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Recession

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Recession

Postby Luv2sled » January 7th, 2003, 4:07 am

Ya let me explain it......it's called global economics and it's been happening since the 1940's. Workers have been layed off and displaced all around the country for many many years. Manufacturing jobs especialy have been shiped north and south of the boarder and overseas in favor of cheap labor and no labor unions. Those workers get absorbed by other areas of the economy....even though they may have to relocate. I know areas of the country are hurting and I feel sorry for them but that's the price we pay to live in a free market economy. The overall US economy (as measured by GDP) is pretty strong right now and the national unemployment rate of 6% is historicaly low relatively speaking.
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Recession

Postby Luv2sled » January 7th, 2003, 4:11 am

maxi.....I hear ya, but what are people supposed to do when our goverment rewards us for going in debt and penalizes us for saving? Ass backwards if you ask me.
Life is like a crap sandwich, the more bread you have the less crap you have to eat.
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Recession

Postby maxiracer » January 7th, 2003, 4:22 am

Amen there buddy, it is really kinda fubared!
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Recession

Postby straycat » January 7th, 2003, 5:03 am

We are and we arn't in a recession right now and I can tell you a few resons. There were alot of people employed by the E-bizz in the mid 90's. When the government first steped in to break up Microsoft alot of the E-bizz started to pull out leaving people who were making 50-60K a year for doing minimal work unemployed. The majority of these people took unemployment till it ran out and then nobody wanted to hire them for the 50k a year they were making before. They had to find lower paying jobs so they couldn't spend money on luxturys, They had to support there expensive homes and cars they had purchased.
Alot of these E-bizz were giving out shares of stock to investers. When they all of a sudden folded up it left there investors screwd holding worthless paper. This is when the bottom droped out.
Another reson is because of companys using the recesson as an excuse to cut the fat out. If you have noticed alot of the US manufactures are still producing the same volume with fewer employees (lower over-head). While the econ was bomming, getting rid of "fat" was impossible for them because of unfair termination laws. a company can get around this by saying that they have to make cuts to stay alive.
The third is all of the illiegal bizz practices that have been going on that companys had been getting away with under the clinton administration. When the CEO's of these companys were caught and charged with fraud and unfair bizz practices it caused them to file bankrupcy. (Enron, Worldcom, to name a few) leaveing thousands out of work and share holders with there pants down once again.
But the money is still out there. People are just not spending it for fear of the bottom breaking out and going into a major recession. I think it is just leveling out and becoming stable. You cant have 10 years of groth and not expect it to level off at some point. The media is realy making it seem worse that it realy is. But that is my opinion.
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Recession

Postby RotaxGuy » January 7th, 2003, 5:46 am

Call up 10 economic instructors at your local university and you'll probably get 10 different definitions of a "recession." It's generally accepted that a recession is a decline in GDP for two or more consecutive quarters. And, yes, I did stay in a Holiday Inn Express last night.
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Recession

Postby Mikeybac » January 7th, 2003, 6:19 am

True my buddy was an econ major and he always says we were and are in a recessio...I myself dont think we were in one and arent in one now...All the companies ive worked for the past year....Coca-Cola, Pepsi and Frito-Lay are always hiring....
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Recession

Postby Basic Bob » January 7th, 2003, 7:49 am

straycat came pretty close to what has happened. Clinton's roaring 90's was nothing but a bunch of political BS. The bottom had to drop out eventually. Everyone is still b***hing, but the 90's made a lot of spoiled, grown-up brats. The 90's also made a whole lot of people wealthier than they ever would have been without the crazy stock market. As straycat said, things are only stabilizing. So we have to tighten our belts a little bit and struggle through a year or 2 of lay-offs and the such. BIG DEAL. Suck it up and quit your d**n whining. We are not born with the right to a $50-60K a year job, and we are not born with the right to that job being exactly where we would prefer to live. I have relocated twice in my life and both times I have come out better after. So, like I said suck it up and drive your 2 year extended cap truck for a few more years, and keep your '02 or '03 sled or ATV for 5 years, instead lowering the value of used RVs buy thinking you need a new one every year. If things are so tough where you live, MOVE.
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