Unchained Preppers
General Category => General Discussion => Topic started by: tominphx on November 22, 2011, 01:15:07 AM
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We exceeded 100% of our debt to GDP ratio today.
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i always love to hear good news ::)
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http://youtu.be/55MGBXOTm2I (http://youtu.be/55MGBXOTm2I)
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that's funny, I just heard on NPR this evening that "according to top economists, the recession is officially over".... LOLOLOLOLOL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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This is insanity. It is far beyond bizarre. How can legislators who seem to have the ability to reason let the spending binge continue. I just can't comprehend this kind of stupidity and self destruction. Trying to comprehend it makes my brain freeze up.
IDK what to say. I'm going to go find something to pound my head against.
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This is insanity. It is far beyond bizarre. How can legislators who seem to have the ability to reason let the spending binge continue.
Keynesian economics.
Also, have you ever heard half these people actually speak? I doubt most of them really do have any ability to reason. It's all about staying in office by promising more of other people's money.
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In theory we are not in a ressession. I believe that you have to have negative GDP for 2 or more consecutive quarters. Q3 was +2.0% down graded from +2.5%.
Now with that said, the only thing keeping the GDP from slipping into negative growth is the spending being done by:
1) The remaining employed,
2) Unemployed folks hitting up their savings and retirement (My wife and I), and
3) Folks living off the 99 weeks of unemployment.
Once more folks get laid off, run out of savings & retirement $$$ and exhaust their 99 weeks the shit will really hit the fan. [img]http://www.arrse.co.uk/at
IMO, once Israel drops the big one on Iran and oil stops flowing to China & Russia things will get REALLY bad. Russia will retaliate against Europe for not dropping or allowing Russia to drop the big one on Israel. They will cut off natural gas, oil and coal to the EU- Then they will crumble. Of course we have been supporting the EU behind the scenes with $$$$ so then we will then crumble. Nobody will have a job, the last of your money in savings & retirement along with your unemployment $$$ will be worthless.
Bottom-line, there has to be a reason for "their" madness- If it is global melt down we are way along down that road.
Last, please talk to friends and family over this Thanksgiving holiday. It might be the last one anybody has in awhile.
Love and kisses from old JohnyMac at his BOL enjoying the smell of roasting turkey. :))
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2.0 GDP
Inflation (Fed's number) 2.1%
= -.1% growth.
By definition, two consecutive quarters of negative growth is a recession. We've been in a recession for quite some time.
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Great point Veritas. And if we roll food and gas back into the inflation equation inflation is about 10% so GDP is -8% OUCH!