The Economy - Democratic Underground

JMMendez1989

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Thu Sep-24-09 09:43 PM
Original message

The Economy

Anyone here thinks this Deep Recession is over yet? I think its is. I went out this past weekend and I had trouble finding parking and getting my way around some places. Spending seems to have gone way up. I think we won't see it for a while though. I do believe we will have a "boom" under President Obama but it might not happen til 2011-2012. This recession is bad enough. I can only imagine how people felt in the Great Depression. At least we have Obama, they had... Hoover. :(

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BeatleBoot

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Thu Sep-24-09 09:47 PM
Response to Original message

1. Actually, they had FDR

Bush is to Hoover

as

Obama is to FDR

They had FDR to pull them out of the Great Depression.

The Republicans buried the country into the Great Depression.

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JMMendez1989

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Thu Sep-24-09 09:49 PM
Response to Reply #1

2. yeah i know, i meant b4 FDR

I mean before FDR, yeah you're right, I kind of messed my message up. But they went through 4 long years of economic drought. We instantly got Obama after it began. We were luckier.

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BeatleBoot

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Thu Sep-24-09 10:04 PM
Response to Reply #2

4. Except, we got Obama

about 8 years after this economic drought.

Manufacturing volumes took a deep nosedive in May of 2000 and they have never recovered.

The recession officially started in January of 2007, but the Mortgage Industry started to collapse in June of 2006.

Manufacturing 6 years earlier.

The Mortgage Securities that Bear Stearns and Lehman Brothers were selling throughout the Bush Administration all were exposed as "a pile of shit called gold with an insurance policy" last September.

Then the Bush Administration demanded from Congress $ 750 Billion (and oh, by the way, "we need it by this coming Monday").

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unkachuck

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Thu Sep-24-09 10:02 PM
Response to Original message

3. I don't know....

....the mortgage situation is still out there....wall street and big banking haven't changed....the country is still dominated by corporations and their interests....many people are heavily in debt or about to go bankrupt, here and around the world....and I don't see what's going to be the next great economic 'boom' activity that's going to inspire business to invest/expand and put everyone back to work....

....then again, I could be wrong....

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Speck Tater

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Thu Sep-24-09 10:06 PM
Response to Original message

5. The worst is yet to come. By far. Look for 2010-2012 to be BLEAK! nt

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