Does the Double Dip begin on Friday?

Discussion in 'Economy' started by Mini 14, Jun 30, 2010.

  1. Mini 14
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    Mini 14 Senior Member

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    Labor data due out Friday, and unemployment is expected to rise again. Friday and Monday could be disastrous days for the market.

    How low do you think it will fall? Will it get to 9000? Even lower?
     
  2. topspin
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    topspin BANNED

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    I'd call it another recession not a double dip.
    Consensus is for 150,000 non gov jobs with the total being neg 100,000 due to census workers being done.
    If we get less than 100,000 market falls 150 pts
    less than 50,000 market falls 350 pts
    negative 50,000 or more market falls 550 pts
     
  3. editec
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    editec Mr. Forgot-it-All

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    For most Americans the depression we're in really hasn't abated.

    It might be a double dip for the economy since its the wealthy whose activity is so important to what consitutes the national ecomony.

    But for about 90% of us?

    Hell! ~ the depression start long before the GDP started offically crapping out.
     
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  4. topspin
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    topspin BANNED

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    Depression LOFL, 90% are working and the economy is growing.
    There are absolutely no drama queens on this board.
     
  5. Barb
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    Barb Carpe Scrotum

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    You must spread some Reputation around before giving it to editec again.
     
  6. editec
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    editec Mr. Forgot-it-All

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    Would you more comfortable calling it a recession?

    Okay, call it that if that suits you.

    Depression was the euphemism they invented (in the 30s) so that it wasn't called A PANIC like it had been in the last time the economy melted down (in the late 19th century, FYI)

    Then recession was the euphemism we invented because the name DEPRESSION scared people.

    Call it what you will, sport, it is what it is.

    And if we counted unemployment NOW, like we did in the 1930s?

    It'd be about the same number NOW as it was THEN.

    The difference, and the reason we aren't seeing HOOVERVILLES is the UNEMPOYMENT INSURANCE and welfare system we put in place because of the 1930s DEPRESSION/PANIC/RECESSIONA/ECONOMIC DOWNTURN (call it whatever the fuck you want)
     
    Last edited: Jun 30, 2010
  7. B. Kidd
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    B. Kidd Gold Member

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    A new report coming out of the CBO reaches the conclusion that our current debt levels are unsustainable.
    This also isn't going to help the market.
     
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  8. KissMy
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    KissMy Free Breast Exam

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    It's a DEPRESSION. I am depressed because I had to fire people & I feel depressed about it & they do to. My other workers are depressed because they had to take on more responsibilities. I am also depressed that my unemployment insurance payments keep climbing & my state is to broke to pay me my tax refund they owe me. I only got an IOU. I have many clients that have not paid me in a long time. I am also very depressed about the massive new pile of 1099 tax forms that the healthcare will force me to file.
     
    Last edited: Jun 30, 2010
  9. Mini 14
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    Mini 14 Senior Member

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    Biden will spend us out of this, I just know he will!
     
  10. Old Rocks
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    Old Rocks Diamond Member

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    I am one of the lucky ones, and am riding this out well, other than not being able to sell my property at the moment.

    But the unemployment is far above 10%. And there are all too many employed part time, and not able to pay their bills.

    The worse part of the whole matter is that there is no longer any security for any wage earner.

    Add the amount of debt taken on by many, unwisely, but with the encouragement of our whole financial structure, and you have a real downer for all.

    What should we be doing? Well, the buildings, roads, and projects done in the '30s by the CCC, WPA, and other projects are mostly still here and serving us well. They created jobs then, and have paid us all back in service since then.

    Right now, we have a need of a 21st century grid, and the people neccessary to service that grid. It would be an investment that would serve us for generations. At present, wind, geo-thermal, and even the new solar, are all cheaper than clean coal, wind and geo-thermal, cheaper than dirty coal.

    We could be hiring and training people right now for the installation and maintance of the grid and energy sources right now. Do it similiar to the way we built the Interstates.

    Or we can just sit on our asses and moan about the current problems.
     

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