Owen B

No Chance of a 'V' Recovery

You wrote, "ECRI has been wrong before and they were in 2007 about the strength of our economy"

But I've heard ECRI state that GDP growth reached a 4-year high in mid-2007. Is that not true?


On Oct 02 04:16 PM enigmaman wrote:

> Your points of fact are well taken but
>
> 1-ECRI has been wrong before and they were in 2007 about the strength
> of our economy
> 2-We have more houses then qualified buyers and 6 million more foreclosures
> on the horizon, builders are selling at looses just to stay in business,
> so housing is now our ball and chain and not the cavalry
> 3-India and East Asia are doing fine so far, whom will they sell
> their wares to to maintain their GDP, it wont be USA ,then who?<br/>4-
> Like all headlines, they show we are breaking records all over the
> place, but what lies underneath those numbers, todays stats were
> sobering because they indicate economy still needs to be in ICU and
> also needs pacemaker to keep its heart beating
> 5- Foreign demand for what?
>
> I want a V shape recovery, I really do, everyone prospers from a
> good economy, there is no reason to want it to falter because it
> takes all down with it. Then again there is no reason to believe
> everything will come up roses because we want it to, to expect a
> V shaped recovery after all that this economy and its people have
> been through in such a short time and facing a government that insists
> on adding debt upon debt without worry about an 18% tax revenue shortfall
> is insane, OK wishful thinking. The devil is in the details and the
> details are what we are not getting, but they are there is you search
> for them and when you find them they are worse then you expected,
> like today workers are losing hours worked at an unrepresented pace,
> worse then anticipated. Give you an idea about unemployment, at 9.8%,
> the Pres said his stimulus would add 3million jobs in the next two
> year, Ha, but lets say it did, the unemployment numbers would not
> change because the underemployed represent 3 million jobs, so before
> we can add one new job employers have to bring current employtees
> back up to 40 hrs work week. So the uphill battle is steeper then
> the Admin is letting on, peel the onion and make sure you hold your
> nose and shield your eyes otherwise it will make you cry