This is the worst labor market since the Great Depression

Discussion in 'Economy' started by KissMy, Jul 22, 2010.

  1. KissMy
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    KissMy Free Breast Exam

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    For those of you cheering on the Obamacrats great recovery.

    Breaking news: Bernanke slams U.S. economy! What to do...
    7/21 Bernanke said Wednesday in the United States in 2012 will be at 7.5%" (their 7.5 is more like 15% or more)

    The Existing Home Sales drops and reverses previous reading
    AISE SteelNews: World Crude Steel Production Dips 4.4% in June

    Dollar extend its loss after bigger than expected rise in jobless claims filling
    Wow gold has been on a 3 week losing streak due to rising confidence in the euro. Now the US monetary easing & unemployment are killing the dollar. Time to buy more gold as it just snapped its losing streak. Bernanke just gave gold a $12 pop! This economy is failing so government is getting ready to throw serious money at it for a long time.

    Bernanke: Fed ready to ease if economy weakens
    We have declining Employment, Baltic Dry Index, Dollar, Steel, Oil, Copper, PMI, Stocks, Housing & Business. How about doing a few more back-flips for Obama & blame Bush some more.
     
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  2. topspin
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    topspin BANNED

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    awh since when did wingnuts care so much about poor uneducated people.
    Oh since Obama took office. LOFL
     
  3. william the wie
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    william the wie Gold Member

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    You do realize you have just accused your opponents of being smarter and richer than your side, was that your intent?
     
  4. Charles_Main
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    Charles_Main AR15 Owner

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    You stupid fuck tard if this keeps up we will all be poor and uneducated.

    OMG such a moron.
     
  5. Truthmatters
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    Truthmatters BANNED

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    Thanks for creating this mess with your failed ideas.

    This mess all hit a couple of months before Obama took office.

    You dont turn the world economy arround in a year and a half
     
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  6. sparky
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    sparky VIP Member

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    good point Truth, malignacies need time to grow

    and many where seeded in this system we have long ago

    funny thing about Ben B, i hear he's an acedemic re; the 'Great Depression'

    I mean, the more i think about it, the more outrageous it is to think an insider , who's primary job is to not let the public see the man behind the curtain might have a level of historic clarity knawing at him to do just that.....

    ~S~
     
    Last edited: Jul 22, 2010
  7. Freedomfan1776
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    Freedomfan1776 Rookie

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    The title of this thread is misleading. To compare our economic straits today to those of The Great Depression is way off base in my estimation. If you talk to anyone who lived through that time, they will tell you that the problems of today are no place even close to where they are today. People back then literally did go hungry. That is simply not what is happening right now.
     
  8. KissMy
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    KissMy Free Breast Exam

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    Oh, Oh, Wait! I have a great idea! Lets enact affirmative action based lending standards instead of credit ratings based lending standards just like Bill Clinton did.

    New York Times September 1999 The danger was known.

    [ame="http://www.youtube.com/watch?v=ivmL-lXNy64"]"BANK AFFIRMATIVE ACTION"[/ame]

    What a great idea! Those damn credit scores are evil & racist. A study by Freddie Mac, confirming earlier Federal Reserve and FDIC studies, contradicts race discrimination arguments for Fannie, Freddie & CRA. The study found that African-Americans with annual incomes of $65,000-$75,000 have on average worse credit records than whites making under $25,000. This showed that the difficulty in qualifying was not because of race but bad credit records. Accordingly, the Federal Reserve Bank of Dallas entitled a paper "Red Lining or Red Herring?"

    Who needs credit scores? When those evil republicans start screaming we must raise credit standards & reserve ratios at Fannie/Freddie we can just stick our fingers in our ears, call them evil racist & yell la-la-de-da-la-la I cant hear you.


    [ame="http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=related"]No Crisis at Fannie Freddie.[/ame]
     
    Last edited: Jul 22, 2010
  9. KissMy
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    KissMy Free Breast Exam

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    This is a direct quote from Ben Bernanke Chairman of the Federal Reserve when he went before Congress today. See story at link below.

    Bernanke slams U.S. economy!
     
  10. Freedomfan1776
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    Freedomfan1776 Rookie

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    I apologize for that. I did not see his remarks. The fact that Chairman Ben makes that assertion is even more frightening. Particularly because one of two things is going on:

    1. Chairman Ben simply does not understand what went on during The Great Depression or
    2. Chairman Ben knows exactly what he is doing and is banking on the fact that people will take him at his word. The goal being: more power given to The Federal Reserve to prevent any more 'damage to the economy.'

    I am inclined to believe that Chairman Ben is operating under choice 2. It amazes me how many people seem to just jump right over the economic downturns of the 1970's and early 1980's. I firmly believe that is because we got out of the situation due to tightening of the money supply under Paul Volcker, lower taxes, and less regulation under President Reagan. Since Obama and Chairman Ben are intent on doing exactly the opposite, we shall see what happens...
     

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