Who Says There's No Recession

[lizbud]

My point, very simply, is this. Stories like this happen all the time, and are not proof of a recession.

I disagree. It happens in much greater numbers than it ever has before.

I can't remember another time when prices on EVERYTHING has risen in
record numbers & personal income has stagnated or stopped altogether,
by layoffs or plant shutdowns. All these things plus the mortgage mess,
has led to this. Calling it a economic slowdown if it makes you feel better
but it sounds like full fledged recession to me.

[Medusa]

Calling it a economic slowdown if it makes you feel better but it sounds like full fledged recession to me.

I can't speak for others but I'm not disagreeing that we're in a recession. I am, however, agreeing that situations such as the one on the posted video, have existed regardless of the economic conditions.

[Lady's Human]

I can't remember another time when prices on EVERYTHING has risen in
record numbers & personal income has stagnated or stopped altogether,
by layoffs or plant shutdowns.

Try the late '70s to early 80s? That was made worse by a prime interest rate in the teens, combined with unemployment near 10%, as opposed to a prime rate now around 5% and unemployment around 4%.

Here's a graph of unemployment data:

http://www.csus.edu/indiv/j/jensena/sfp/us/US-UR-50.htm

inflation data:

http://en.wikipedia.org/wiki/Image:U..._Inflation.svg

and Prime interest rate data:

http://research.stlouisfed.org/fred2/data/PRIME.txt
(look at the prime rate for 1978-1982 and figure what your prime+10% charge account would be at those rates)

[Catlady711]

Try the late '70s to early 80s? That was made worse by a prime interest rate in the teens, combined with unemployment near 10%, as opposed to a prime rate now around 5% and unemployment around 4%.

Here's a graph of unemployment data:

http://www.csus.edu/indiv/j/jensena/sfp/us/US-UR-50.htm

inflation data:

http://en.wikipedia.org/wiki/Image:U..._Inflation.svg

and Prime interest rate data:

http://research.stlouisfed.org/fred2/data/PRIME.txt
(look at the prime rate for 1978-1982 and figure what your prime+10% charge account would be at those rates)

I was just thinking of the 70's, the lines at the pump, out of gas signs, and heck even lines twice as long for a single ad saying now hiring. Only good side of it was the money I had in a CD earning a whopping 12% interest!! Sheesh I should be grateful for my one earning 5% because the rest are about 2-3% and going down.

[Giselle]

Well, there's always a light at the end of the tunnel.

It's the business cycle. After a recession, there (should/hopefully) will be economic prosperity. Should be... That's humanity, isn't it? Out of our mistakes and folly come knowledge and solutions. Or at least that's how it SHOULD be

[Karen]

Well, there's always a light at the end of the tunnel.

It's the business cycle. After a recession, there (should/hopefully) will be economic prosperity. Should be... That's humanity, isn't it? Out of our mistakes and folly come knowledge and solutions. Or at least that's how it SHOULD be

Yes, but here's hoping it comes sooner, rather than later. This country has been through a Great Depression before, I'd rather not have it happen again.

[RICHARD]

SB is so expensive to live in the cops and firemen cannot afford homes in the area.

The housing market and the crooked people who work in it are the reason that there are so many problems.

I don't know squat about titles, mortgages and such, but I do know that the people in the business are ruthless and thieves.

One story I heard was of a woman who bilked a title company out of 1.5 mil and is in Europe at the moment. When we closed out title/mortgage offices, employees still with the company would come in a take piles of folders home.
They would finish the transactions and pocket the commissions, all under the pretense of working for the company.

I can't even start to tell the stories of people bilking (STEALING) from the company. I had to clear out a desk of one of the officers at a satellite office.

He had the pads that servers used in a restaurant. The 'guest check' part of the tickets were missing on three different books in the drawer.

I thought about it for a minute and came to the conclusion that he would tear the GC off, fill it out and turn it in with an expense report.

-----------------

The reason that people are losing their homes?

THey fell for the loan scam. Down payment and 500 dollar monthly installments....after some time the rates and payments go up- some times double- and people get caught.


One of my brother's friends went from a 600 dollar house payment to over 1300 bucks because he didn't so the homework.
-----------------

Some people want to play the "look at me" game. They climb the ladder and when it becomes unsteady, they forget that they are at the top rung.

Those same people took the extra money, went high hog on cars, furniture and clothes....now they risk losing it all.

----------------

I like the idea that GWB, the oil companies and everyone else it to blame for our stupidity.

Back in the '70s we had a chance to really tune our transportation situation in- better cars, more gas mileage and better emissions.

What did we do? Invent the Armada, Hummer and Yukon.

We have done it to ourselves, get over it and let's work on the problems we have now, instead of blaming one idiot that can't get a law passed to get oil out of the ground in Alaska.


We won't let him.