General Music Chat

Most experts agree that the recession ended several months ago and that the economy is well under way to recovery. Here in Michigan (where the whole thing started) GM has paid off its loan 5 months early and is hiring 400 workers, Ford has announced a 1 billion first quarter, Chrysler's losses were far less than predicted and the housing market continues to heat up. My IRA has recovered by 50% of its losses, my 401K continues to grow, and I'm making strides to pay down debt I accumulated during the downturn.

How about where you are? Are things looking better? If not, who do you blame?

Most experts agree that the recession ended several months ago and that the economy is well under way to recovery. Here in Michigan (where the whole thing started) GM has paid off its loan 5 months early and is hiring 400 workers, Ford has announced a 1 billion first quarter, Chrysler's losses were far less than predicted and the housing market continues to heat up. My IRA has recovered by 50% of its losses, my 401K continues to grow, and I'm making strides to pay down debt I accumulated during the downturn.

How about where you are? Are things looking better? If not, who do you blame?

Recession over? Well...

The problem is, that economists have a very limited "technical" definition of when a recession has ended. It simply means that growth has resumed again. Conditions for the average American and even for most small businesses can be absolutely CRAP, but "technically" a recession can be over, according to the narrow definition that economists use.

The recession was said to be over LAST SUMMER.

Did it "FEEL" like it was over?

Does it "FEEL" like it is over now?

The truth is, that the average American may not see their own situations improve substantially, for YEARS after a recession has technically ended. In poll after poll, most Americans DO NOT believe the recession is over, no matter what economists say. And a distrusting and tight-fisted consumer base, does not create an immediately bright outlook.

The other problem is this...

While ONE RECESSION may have technically ended last summer, there are some economists who believe that we are on the way to a FAR WORSE recession, than the one we have been in for two years or more now.

Recessions historically begin to recover after several years, so, one would hope that this one, is about to turn a corner, and keep driving forward. But with the MASSIVE SPENDING and MASSIVE DEBT required for the Health Care bill, and with the additional burdens Congress is about to put on Wall Street... it is doubtful to me, that we will see any long term growth that continues for 5 years or more.

Many of the big bills being passed, are BACKLOADED, and the full economic HIT won't be felt for months and in some cases, not even for several years to come. We may see an economy that rebounds in the short term, only to blow up worse, 2 to 4 years from now.

No one can PREDICT these things with accuracy... there are too many variables, in business, in nature, in politics, etc... There is no way to fully know, what will happen in our economic futures.

But right now... MOST AMERICANS are still suffering. Many businesses have removed or decreased their bonus programs, and some are only paying straight salaries to managers.

So many jobs have been lost, that there has to be a bottom somewhere. So we would expect to see job growth occurring, after such losses, but this doesn't mean the economy is strong.

It could be many years, before the economy gets back TO WHERE IT WAS, and THEN continues it's growth. That is what "I" consider a REAL RECOVERY.

If I have lost half of my net worth, and have taken a job at 20% less of my former salary, then I have not recovered until I have recouped my savings, and found another job willing to pay me WHAT I USED TO MAKE!

It's like saying...

My bank account of $100,000 went down to $20,000, but gee... it has stopped losing money now, and NOW.... it is actually growing, and I now have $25,000 in there, so... WOOHOO!!! I have RECOVERED!!!!

Uhh... No, yo haven't!

Still out of work and looking, wish I could share you enthusiasm but I can't yet hopefully in the near future.

I blame Wall street and Obama for bailing them out, George Bush for allowing Wall street to destroy the economy during his tenure.

I do not fear Iran nukes nor foreign terrorists, Talibans, Iraqi Suni or shiites, I do fear corporate America, sold out politicians, Washington Lobbyists unchecked greed, Larry Somers and Tim Geithner, the Federal Reserve and IRS.

These are the people and institutions who made an impact for the worst on my financial and emotional life.

Joe Biden made some statements about Jobs recently, which... if true, could be VERY POSITIVE for the economic recovery process.



http://blogs.abcnews.com/politicalpunch/2010/04/vice-president-biden-predicts-massive-job-growth-in-coming-months.html


ABC NEWS
Vice President Biden Predicts Massive Job Growth in Coming Months
April 23, 2010



ABC News’ Matt Jaffe and Karen Travers report:

Usually the Obama administration downplays expectations for job growth, but apparently Vice President Joe Biden didn’t get the memo – or he did, but just blew it off.

“Some time in the next couple of months we’re going to be creating between 250,000 jobs a month and 500,000 jobs a month,” Biden said at a fundraiser today in Pittsburgh.

Next month, Biden predicted, the nation’s employers will add between 100,000 to 200,000 jobs to their payrolls.

If employers were to increase their payrolls by half a million jobs at some point in the next few months, that would mark a massive turnaround for a country that was hemorrhaging hundreds of thousands of jobs a month just one year ago. But with the big boost expected from the government’s 2010 census, on top of an improving employment picture as evidenced by the 162,000 jobs created in March, such future job growth is a distinct possibility, analysts say.

“Given what the census did ten years ago we should get at least 100,000 additional census jobs in April and at least 300,000 census jobs in May,” said Mark Zandi, chief economist at Moody’s.com. “Of course, those temporary jobs go away, so there will be a very significant drag on employment in the summer. June, July, August, September will see much weaker job numbers.”

The administration’s own forecast projects that the labor market will add about 100,000 jobs a month for the rest of the year, then around 200,000 jobs a month next year, and 250,000 jobs a month in 2012.

Biden noted today that in the past he “got in trouble” for making predictions about job creation, but clearly that did not stop him from delivering his bold new projections.

“We caught a lot of bad breaks on the way down,” Biden said. “We’re going to catch a few good breaks because of good planning on the way up.”

The patient is out of intensive care and has his own room with a TV and a phone. He should be released from the hospital soon

I would take issue with your "most Americans" are suffering. Maybe 15-20% tops. Many of those unemployed have no sellable skills. The rest of us are doing the right thing and going to work every day, paying taxes and restoring the American Dream.

The patient is out of intensive care and has his own room with a TV and a phone. He should be released from the hospital soon

I would take issue with your "most Americans" are suffering. Maybe 15-20% tops. Many of those unemployed have no sellable skills. The rest of us are doing the right thing and going to work every day, paying taxes and restoring the American Dream.

Jimmy, you have your head in the clouds brother.

You didn't lose your job.... MILLIONS OF OTHERS DID!


Not to mention those who lost HOMES, and SAVINGS!

And others who put themselves in MORE CREDIT CARD DEBT to make ends meet!

47 percent of Americans pay no taxes.
I agree with the general economic assessment you present but not the numbers.
Taxation should be equal. Everyone pays the same percentage either by income or perhaps a sales tax with no IRS and no loop holes.
Anything less is not justice.

You didn't lose your job.... MILLIONS OF OTHERS DID![/b][/size]


Not to mention those who lost HOMES, and SAVINGS!

And others who put themselves in MORE CREDIT CARD DEBT to make ends meet!

You're misinformed Craig. I was laid off for six months. I had go in debt to keep my house. I will be working for YEARS to pay it off. I lost 50K on my IRA and my houses went down in value by 80-100K each, which will also take years to recover. But I'm not sitting around and complaining or blaming others, I'm working my ass off. We need positive thinkers and doers.

When the going gets tough, the tough get going.

Adapt and overcome or die like the rest.

It's really bad in NJ, but I am not ready to give in to anyone or anything.
Not then, now or ever.

Pick yourself up by the pants and keep walking. It's the only choice you really have.

You're misinformed Craig.

It happens occassionally.

I was laid off for six months. I had go in debt to keep my house. I will be working for YEARS to pay it off. I lost 50K on my IRA and my houses went down in value by 80-100K each, which will also take years to recover.

Well, hallelujah, praise jihad, and pass the mustard!

I can see NOW, why you are so happy with our government!

But I'm not sitting around and complaining or blaming others

The hell you aren't!


You just aren't blaming the CURRENT administration for any of it!

I'm working my ass off.

No sir. You are collecting a fat paycheck for "sitting around the office" playing on the Internet, and "occasionally" working on company business.

THAT "IS" what you told us, just last week!

We need positive thinkers and doers.

I agree with you. But I personally think it is a POSITIVE pursuit, to help remind people, of what makes this country great, and what makes it's citizens strong and productive, and remind them, just how this is slipping away, as young people are not being taught the values of our founding fathers any longer!

I think THE PEOPLE getting "THEIR" government back... IS A VERY POSITIVE PURSUIT!!!

"Of the people, by the people and for the people."

I think that goal is VERY POSITIVE and VERY WORTHY!

Craig I get up everyday at 6:30am and come to work. I am able to converse with you occasionally while programs compile, etc. But it's still work. Yes I have a good job but it's still a job at the end of the day.

Craig I get up everyday at 6:30am and come to work. I am able to converse with you occasionally while programs compile, etc. But it's still work. Yes I have a good job but it's still a job at the end of the day.

I'm just playing with you, using your own statements Jimmy!

I respect you both, as a productive citizen and a great musician!

But my views are far more liberal... than yours are conservative... and that makes me sad. Your politics seem far too party-line to me. Most Americans are common sense people, and they, more often than not, find themselves IN THE MIDDLE, and not in agreement with virtually every line-item issue there is, in their party's platforms!



I still have a great deal of respect for you, and if I don't express that enough, then...














REFER BACK TO THIS POST!

since the creation of the Federal Reserve Bank and the ending of the Gold Standard we now get a recession every 10 years or so... it's the New American Way!

Just found this: IBM will hire hundreds in MI

http://www.clickondetroit.com/community ... etail.html

That settles it, we're all moving to MI..LOL