Wall Street Is Stealing Another 20% From You

Discussion in 'Economy' started by chanel, Mar 2, 2010.

  1. chanel
    Offline

    chanel Silver Member

    Joined:
    Jun 8, 2009
    Messages:
    12,130
    Thanks Received:
    2,746
    Trophy Points:
    98
    Location:
    People's Republic of NJ
    Ratings:
    +2,749
    Wall Street Is Stealing Another 20% From You - FOXBusiness.com)

    Scary article.

    Does anyone give any credence to this? What's this Paul Farrell's reputation?
     
    • Thank You! Thank You! x 1
  2. Neubarth
    Offline

    Neubarth At the Ballpark July 30th

    Joined:
    Nov 8, 2008
    Messages:
    3,751
    Thanks Received:
    199
    Trophy Points:
    48
    Location:
    South Pacific
    Ratings:
    +199
    You can tell people the obvious that the Service Sector collapse that is 70 percent of the economy is the greatest factor in our collapsing country. Manufacturing is ten percent of the economy.

    The recent three percent rise in the manufacturing indexes (Suspect) is equivalent to a 0.3% boost to the economy, but it is not enough to offset the ten percent fall in the service sector in the same period.

    To get a feel for how the Service Sector segment of the economy is doing, all you have to do is look at the weekly UI claims numbers. If we have more than 350,000 people filing for UI each week, we have a collapsing Service Sector.
     
  3. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    An economy that is 70% based on consumer spending cannot long last.
     
  4. Neubarth
    Offline

    Neubarth At the Ballpark July 30th

    Joined:
    Nov 8, 2008
    Messages:
    3,751
    Thanks Received:
    199
    Trophy Points:
    48
    Location:
    South Pacific
    Ratings:
    +199
    Here are the untampered UI weekly claims numbers from the states since September. As you and everybody else can see we are in a serious Depression with all of these Millions and Millions of people losing their jobs. This is not a normal condition even if Obama wants you to believe that it is.

    The idiots on this board will tell you that these numbers do not matter, as most of these people find jobs right away. If you believe the government lies, you will believe that. I don't believe the government lies about unemployment. We are in a world of hurt.

    UNADJUSTED DATA
    452,468 in the week ending Feb. 20
    476,730 in the week ending Feb. 13
    504,661 in the week ending Feb 6
    530,405 in the week ending Jan. 30
    500,392 in the week ending Jan. 23
    650,728 in the week ending Jan. 16
    801,086 in the week ending Jan. 9
    645,571 in the week ending Jan. 2
    557,155 in the week ending Dec. 26
    561,902 in the week ending Dec. 19
    555,344 in the week ending Dec. 12
    664,865 in the week ending Dec. 5
    460,989 in the week ending Nov. 28
    543,926 in the week ending Nov. 21
    479,295 in the week ending Nov. 14
    529,446 in the week ending Nov. 7
    480,178 in the week ending Oct. 31
    492,456 in the week ending Oct. 24
    460,449 in the week ending Oct. 17
    503,973 in the week ending Oct. 10
    449,375 in the week ending Oct. 3
    443,694 in the week ending Sept. 26
    434,358 in the week ending Sept. 19
    407,869 in the week ending Sept. 12


    U.S. Department of Labor: Employment & Training Administration (ETA) News Releases
     
  5. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    No it is not a normal condition, not even when it was happening under Boosh.

    It is however inevitable.
     
  6. Vanquish
    Offline

    Vanquish Vanquisher of shills

    Joined:
    Aug 14, 2009
    Messages:
    2,659
    Thanks Received:
    354
    Trophy Points:
    98
    Ratings:
    +358
    Fixed.
     
  7. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Nope all economies are based on spending by someone somewhere.
    .
     
  8. mayya555
    Offline

    mayya555 Member

    Joined:
    Feb 16, 2010
    Messages:
    50
    Thanks Received:
    7
    Trophy Points:
    6
    Location:
    Alabama
    Ratings:
    +7
    Oh are they?
     
  9. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Yep.
     
  10. boedicca
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    41,775
    Thanks Received:
    12,767
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +22,725
    This isn't good news:

    Even as many Americans still struggle to recover from the country's worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.
    new report predicting more financial troubles ahead for the US economy.

    In the report, the panel, that includes Rob Johnson of the United Nations Commission of Experts on Finance and bailout watchdog Elizabeth Warren, warns that financial regulatory reform measures proposed by the Obama administration and Congress must be beefed up to prevent banks from continuing to engage in high risk investing that precipitated the near collapse of the U.S. economy in 2008.

    The report warns that the country is now immersed in a "doomsday cycle" wherein banks use borrowed money to take massive risks in an attempt to pay big dividends to shareholders and big bonuses to management – and when the risks go wrong, the banks receive taxpayer bailouts from the government.

    "Risk-taking at banks," the report cautions, "will soon be larger than ever." ...


    Economists Warn Another Financial on Way to U.S. Economy - ABC News


    The only reform we really need is to get rid of Too Big Too Fail. As long as banks know that cowardly & venal politicians will bail them out with taxpayer money, the moral hazard will result in abusive risk-taking.

    LET THEM FAIL.
     

Share This Page