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Recession projection

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Posted · Report post

As much as I don't believe the increased spending will do any good in the long term, I don't know how you judge this President and his Treasury secretary as this financial meltdown is unprecedented.

Not really. Late 70s were just as bad. Unemployment was much worse.

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Posted · Report post

Yeah, because increased spending did not help at all to get us out of the great depression.

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Posted · Report post

Fwiw, I think the biggest difference the federal spending made was restoring confidence in some areas. Projects like TVA gave a lot of people jobs and helped to restore confidence. This time, the economy might begin to recover on its on even before the stimulus money comes into play.

As far as federal spending, seems the major thing that got us out of the great depression was spending on World War II. Some of it was US spending, but some was foreign government spending. The depression didn't really end until 1940 or so. The US was spending more, but the British were emptying their gold reserves buying US weapons, and the Russians were spending money as well.

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Posted · Report post

Why?

This one can get a lot worse before it gets better. Also it's much deeper than your run of the mill recession.

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Posted · Report post

This one can get a lot worse before it gets better. Also it's much deeper than your run of the mill recession.

With all of that spending Obama just laid on us, it better not.

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Posted · Report post

With all of that spending Obama just laid on us, it better not.

Watch Eastern Europe. If they start going under, start your bomb shelter.

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Posted · Report post

Watch Eastern Europe. If they start going under, start your bomb shelter.

You might have saw the article on EE the last couple of days. I can't find it off the top of my head.

I'm ambivalent about EE in this crisis. They are not the player they once were. But they are more of a social and cultural conduit or more of a buffer actually between the Old World and the Middle East, which could be a powder keg...hmmm

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Posted · Report post

You might have saw the article on EE the last couple of days. I can't find it off the top of my head.

I'm ambivalent about EE in this crisis. They are not the player they once were. But they are more of a social and cultural conduit or more of a buffer actually between the Old World and the Middle East, which could be a powder keg...hmmm

They also have as much Western European money as shitty mortgages had of Wall St's money.

It could end up bad if their banks and governments go under or if Asia's manufacturers go belly up.

Really bad.

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