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Economy
Apr 2, 2010 18:08:31 GMT -5
Post by big_electron on Apr 2, 2010 18:08:31 GMT -5
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Economy
Apr 2, 2010 18:31:45 GMT -5
Post by Old Viking on Apr 2, 2010 18:31:45 GMT -5
It's not over yet. Look for commercial real estate to go down the toilet within the next 12 months.
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Economy
Apr 2, 2010 20:36:48 GMT -5
Post by skyfire on Apr 2, 2010 20:36:48 GMT -5
More people might have found jobs, but the overall rate is still 9.7% ; furthermore, at least 30,000 of those jobs are (IIRC) tied in some fashion to the Census and as such are only temporary at best.
So at best, we broke even.
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Economy
Apr 2, 2010 21:30:07 GMT -5
Post by m52nickerson on Apr 2, 2010 21:30:07 GMT -5
Remember that job growth is a lagging factor. So the fact that even broke even is a good sign.
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Economy
Apr 2, 2010 23:11:02 GMT -5
Post by Vene on Apr 2, 2010 23:11:02 GMT -5
Even if a lot of them are temporary, it's positive growth and a positive cycle feeds upon itself. Let's hope we see more of this.
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Post by caseagainstfaith on Apr 3, 2010 0:08:26 GMT -5
Here is my question for you all. Oil/Gas is starting to rise again, will this cause the recovery to reverse and possibly fall again if gas and oil don't stay steadily cheap during the recovery? I am curious since the last time oil and gas rose and got expensive...well...it definitely didn't help the economy by any means.
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Post by dantesvirgil on Apr 3, 2010 8:47:02 GMT -5
^^ Probably. All those things like a bump in prices causes a temporary dip in other places because we're so incredibly dependent on oil and gas. Plus, although the economy has slowed down in terms its freefall, people are not spending as much as they used to. Now, they shouldn't be spending as much as they used to. So, if they get a little common sense, we're likely to see much less growth than we're accustomed to. But that's because we should be trying to reach some level of sustainable growth, and frankly, there was next to nothing about the US economy that was anything resembling a sustainable model. Some Nordic countries only see 1% growth in GDP but they measure their progress in other ways, much like Bhutan's "Gross National Happiness" calculation. We need to start doing the same.
And Old Viking is right about commercial real estate. That's the next bubble to pop, and unless I'm misremembering, it's for the same reason that residential housing went down the toilet -- adjustable rate mortgages. Those mortgages reset their payments every 5 years (or whatever number is on the contract, could be three, could be 10) based on current economic conditions, so when they readjust, those payments will go way up and some business owners won't be able to hold onto their properties. Now, this may or many not make much of a dent. Personally, I think the banks are going to be far more willing to redo a mortgage for a business than they ever were for a home owner. They just don't give two shits about homeowners.
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Economy
Apr 3, 2010 11:32:49 GMT -5
Post by Vene on Apr 3, 2010 11:32:49 GMT -5
It's times like this I'm glad I don't own a house.
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Economy
Apr 3, 2010 13:34:14 GMT -5
Post by skyfire on Apr 3, 2010 13:34:14 GMT -5
In other news, the Army just sent my dad a letter stating that they're cutting his retiree pay for the second time in a row; we're now going to lose an additional $200 / month. ...never mind the fact that last year Obama & co. declared that no military retirees would see their pay cut or otherwise diminished due to the decision not to assign a COLA increase... *wonders what other promises are going to get broken now*
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Economy
Apr 3, 2010 13:46:11 GMT -5
Post by Old Viking on Apr 3, 2010 13:46:11 GMT -5
I'm glad Obama won. Some good may come of it, and it's unlikely he'll start any wars even if God tells him to. But political promises are political promises, regardless of what direction they come from. They were never intended to be taken seriously.
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Economy
Apr 3, 2010 14:04:36 GMT -5
Post by skyfire on Apr 3, 2010 14:04:36 GMT -5
I'm glad Obama won. Some good may come of it, and it's unlikely he'll start any wars even if God tells him to. But political promises are political promises, regardless of what direction they come from. They were never intended to be taken seriously. ...except, in this case my family is literally losing money because of Obama & co. not keeping their word. We're actually looking at cutting back on the utilities now simply because that $200 / month has to come from somewhere. So for me, at least, this isn't a trivial matter; it's day-to-day living that's being impacted.
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Economy
Apr 3, 2010 16:33:09 GMT -5
Post by RavynousHunter on Apr 3, 2010 16:33:09 GMT -5
Well, if you bought into every word he said...damn. Here's a tip for ya: Assume everything a politician says is a lie. It makes life a LOT easier.
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Economy
Apr 3, 2010 16:47:50 GMT -5
Post by m52nickerson on Apr 3, 2010 16:47:50 GMT -5
In other news, the Army just sent my dad a letter stating that they're cutting his retiree pay for the second time in a row; we're now going to lose an additional $200 / month. ...never mind the fact that last year Obama & co. declared that no military retirees would see their pay cut or otherwise diminished due to the decision not to assign a COLA increase... *wonders what other promises are going to get broken now* Sorry to hear about your dad taking a retirement cut. The thing you should know is that it has nothing to do with having no COLA (Cost of Living Increase) this year. The reason why there is no COLA is because last year was so bad that the way COLA is calculated it would have lowered rates.
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Post by skyfire on Apr 4, 2010 8:54:48 GMT -5
Sorry to hear about your dad taking a retirement cut. The thing you should know is that it has nothing to do with having no COLA (Cost of Living Increase) this year. The reason why there is no COLA is because last year was so bad that the way COLA is calculated it would have lowered rates. ...except, Obama promised that nobody, civilian or military, would see their retiree pay, Social Security, Medicare, or anything else go down because there wouldn't be a COLA increase. And so in that sense, the promise was indeed broken and so for two years running my dad has seen his pay get cut by the government. ** As an aside, if you've gotten your hands on last week's Army Times, take a good look at it. Turns out that the Army is going to get screwed again by Congress. Remember how the omnibus is supposed to mandate that employers cover the dependents of their employees until the age of 26? The military wasn't included in that; Congress forgot to institute the language needed to do so. As such, military dependents only see coverage until 21 (23 if they're in college) instead of 26 like the dependents of civilians. That's right: people are already having to push to amend the omnibus because it fucked up.
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Post by ironbite on Apr 4, 2010 9:10:52 GMT -5
Funny you're blaming Obama when he's only been in office 1 year.
Ironbite-think about it for once.
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