United States Heading towards a Depression?

Breeze, home come you're not posting any stock market links today?

"Stocks: Worst day in two months"

http://money.cnn.com/2010/10/19/markets/markets_newyork/index.htm?hpt=T2

"The Dow Jones industrial average (INDU) lost 165 points, or 1.5%. All but two of the blue chip index's components were laggards, with Bank of America (BAC, Fortune 500) leading the decline."

 

DJIA 10,978.62

Mia, it is only your crowed hopping for a Depression - too bad you haven't been holding your breaths while doing so.

There was plenty of room for profit taking after the last two months - no one was surprised by todays market. We are in the midst of earnings reports, Apples was a little disappointing today. There will be several more weeks to weed out the strengths and weaknesses and establish new leadership and strength of direction.

My prediction at present is a continued upward bias......
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Many of the polls are tightening, even Finegold in Wisconsin is making a comeback - two weeks is still a long time.

Public disdain is nothing new, what will be new is if they actually vote against those responsible for the Grand Recession and not those who have solved it....maybe to much to ask but the facts speak for themselves.

 

What is this "hopping" stuff ? But to the point > I will give you a question as to who admitted to causing the Great Depression. Who admitted to causing the Great Depression ? I am not going to tell you who it is, but if you are really interested, Breeze Wood, you can go find it on the web, it is not that hard.

 

Can someone here translate this back to a more comprehensible version of Engrish?

Breeze, I don't think "crowed" was the right word. Was it?

Apple's earnings were disappointing? We're you dropped on your head?

 

Mia, if you can assimilate simple No.s try just looking. +150.69 @ 1:00 pm. Not sure what else can be done for your condition - short of commitment to a hospital.

Cheer up their is plenty of time left for a downturn.
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Who cares?

 

Breeze, here's to hoping you'll grow up one day.

 

Those who learn from history, thats who.


I saw this and thought about you : "Pa. Democrat admits helping Tea Party candidate" LINK

 

When the value of the dollar goes down, the DJIA goes up -- because the DJIA is denominated in dollars.

The effect isn't "smooth", it's jittery. Sometimes there is a bit of a lag, but it's a simple cause and effect relationship.

The government is engaging in policies which will cause a weak dollar, therefore the stock market will (appear to) go up.

 

One of many explanations for rising stocks for companies that are not hiring.

 

Happy days are here again. Google hits $615 a share, up from its 52 week low of $433. Such a market giant can practically single handedly spur a recovery in the US economy, creating jobs and wealth throughout the country, Especially when you consider our corporate tax rate is 35% here in the US. Right?

Wrong. Google pays an effective tax rate of 2.4%. Had they paid the proper corporate tax rate, the US govt. would have yielded $60 billion additional dollars. Maybe if our corporate tax rate was something closer to 15%, Google wouldn't have spent the money it takes to shelter its profits offshore. I would say Google's tax practices are more of the rule than the exception for high income earners.

 

Thats a sure bet Spencer? - those two know nothing about the stock market.

 

Breeze, get back to your remedial math class until you can understand the discussion.

 

Keep in mind that the valuation is AIR. Look at their market capitalization or better yet assets. There is no way they are worth $600+ a share. So that $60 billion in additional dollars? What's 2.4% of that?

 

Just out of curiosity . Since the US is already in deep shit and has no foreseeable end to this crisis isn't this thread kind of pointless . I mean are you guys gonna duke it out till Armageddon ? Am I the only one that thinks that this thread has lived it's purpose ?

 

Sorry Spencer, your comment above just seemed so stupid I couldn't help myself. Yes, the gov't that has curtailed the recession using many devises to do so including floating the dollar.....unlike the Republicans the Democrats know what they are doing.
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Just a few topics for todays market.
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Apoc: The crisis has abated and the recovery is well under way.

 

Pot. Kettle. Black.

I think we've already concluded that YES, this is most definitely a depression because of the prolonged period of unemployment. Of course, the government and economists are calling this The Great Recession (Breeze calls it "Thursday" - excuse me, "Thrdsay").

The only reason why there aren't breadlines is that since the 1960's the government can mail those that are desperate food stamps and other help.

 

No. Our GDP is still greater than our debt and current spending/budget. As a percentage of GDP, even with all our useless social programs (that account for 66% of our budget) is still not a greater number.

As an example, we are at 62% of our GDP in terms of our debt.

Compare that to Greece 104%, Italy 117% or Japan 167%.

We're not quite in trouble yet, but we are on track to armageddon or worse if we do not act now.

That's why it is so important to vote for real change and get Democrats out of Washington.

 

Considering their other sources of unreported income destined for the elections the above is conveniently misleading but symptomatic of the actual way the Republicans manage accounts.

No, the Democrats do not practice Voodoo economics or the new Republican manifestation of Aqua-Buddha but they do know how to balance their budgets and pay down the deficit and did so prior to the previous pub administration.

 

Anyone watch 60 Minutes tonight? They reported that total unemployment in the USA is 17%. Some are now homeless & living in their cars. Democrat-run California's total unemployment is 22%.

Also, they mentioned that one-third of the unemployed have been out of work for more than a year. That hasn't happened since the Great Depression.

60 Minutes also reported that, just like the Great Depression, there are now soup kitchens all across the United States to prevent the homeless from starving. Also,
- 4.5 Million Americans have taken hardship withdrawals from their 401Ks.
- More people have had their savings depleted since the Great Depression
- A free food charity in Silicon Valley has reported that by the end of this year they will have sent out 35,000 bags of free food

Soup kitchens, homeless, no savings. How is this NOT an actual depression???