At least things aren't getting worse

http://www.ft.com/cms/s/0/03083d64-7c7e-11de-a7bf-00144feabdc0.html

No the recession isn't over.

No things aren't getting better.

But they aren't getting worse.


arty:arty:

 

yes they are.

 

No, most signs do in fact point to the fact that globally the recession is easing

 

economically things aren't getting worse.

 

Sure it is.

 

Someone ought to tell this to the folks who are still losing their jobs.

Or the stores who's sales are dropping.

Or the family that is losing their house.

I'm sure it will make them feel better to know that they are just imagining that things are getting worse.

 

We can't see the economic green shoots, but that doesn't mean there aren't any

Like everyone else, I've grown weary of the search for green shoots in the official data, the survey evidence, and the utterances of economists and statisticians. These seemed to point to the very early stages of a recovery, but now they are coming over all wintry again.

http://www.telegraph.co.uk/finance/...ots-but-that-doesnt-mean-there-arent-any.html

Gotta look on the bright side of life.

 

Yup.

 

times seem better to me. got my work hours back, prices are going back to normal, life is continuing (somewhat) peacefully.

 

People lose their jobs because they aren't valuable enough, or because they're being dumbasses for the most part. Sure, there are unfair layoffs, but a lot of these "victims" are just idiots who got fired, period.
The family who "lost their house" bought waaay over their budget and got homes with no fixed interest rate.

 

We are going through a temporary stabilization period. It won't last.

CNBC leads people to think that everything is great and that we're out of the woods. Haven't they heard of a sucker's rally?

The American economy is already gone. I don't know what it is going to take for people to understand that. The country's manufacturing base has all but completely been outsourced to China. The US is now largely a service-based economy. So anytime I hear this bullshit about economic recovery, I have to ask myself what economy there is to recover.

Then add to it everything Obama and Bush have done over the past year. This stuff is going to come back to bite the American sheeple in the ass. We haven't even begun to see the full extent of hyperinflation kick in. That is coming next.

 

In this country I think unemployment is at its worst right now, and it aintgoing to get better for a while

 

Of course it's not, and they're not even giving you the real numbers. The true unemployment rate is closer to 20% nationally. The percentage they give you does not factor in the people who have fallen off the unemployment payroll, the people working part-time that are looking for full-time work, people who are self-employed and unable to find clients, etc.

EDIT:

I just noticed you live in Australia. Anyway, it's the same situation in the US.

 

Common myth, so I'm not surprised you fell for it.

More ignorance. Most rich countries have service based economies. In fact its a normal process for services to rise as a % of GDP as the economy develops. It is a sign of development, not a sign of decay.

Even rich economies which are considered to have a solid manufacturing base, like Germany, get 70% of GDP from services. China, where apparently all this manufacturing has gone, only gets a third of GDP from manufacturing.

I agree, unemployment is always slow to recover.

 

No, around here many people have lost their jobs due to companies closing, or moving business to another country. People are still losing their jobs because the state, city, and county govts are laying off. Businesses are still closing, some retail stores have tentatively started picking up their hiring, but they pay minimum wage. Not enough to support a family. And some of them are still not hiring.

And while many of the first wave of foreclosures was often due to people buying way over budget, its coming down to people who have had their houses for 10+ years, who had good jobs and good loans, who can't pay their bills when they loose jobs. And can't find another good paying job.

Another trend around here is lowering of wages. Jobs that used to pay decently are starting to cut what they offer people, because they know that people will take it. My own company has told managers that all new hires are to make minimum wage. Because they can, because so many people have lost their jobs, and are looking for any work at all, they will take it.

I know what I see. I don't see recovery in my area of the country. Things here are bad, and still getting worse. And the state raising taxes isn't helping at all. Raising taxes and cutting services, that is what we are getting.

Of course the politicians aren't cutting their own jobs or pay, or perks.

 

qft

 

http://globaleconomicanalysis.blogspot.com/2009/07/jobs-contract-18th-straight-month.html

 

green shoots..

Of $1.8B in CMBS loans due in July, only 52% got refinancing

CMBS Defaults, Delinquencies May Top 7% By Year-End, Reis Says

S&P slashes Ambac, warns on policyholder surplus

US construction jobs drop in June-trade group

A Comprehensive View on Bank Profits


Home Sales Fail Inspection

Truck Tonnage Drops in June

Commercial mortgage delinquency up 585%

Benchmarks as Bendable as Gumby

128,000 ARMs yet to 'reset' in Arizona housing market

Smoke, Mirrors, Distortion, Hope and Change - The Earnings Pump Myth Part 1- Transportation


FDIC Poised to Split Banks to Lure Buyers

keep believing what bubble vision is feeding you..

 

Apparently everyone missed the point that things are not yet getting better, they've finally just slowed down in getting worse.

 

:seeya:

:leaving: