sickboy
Active Member
What do you guys think about this?
http://blogs.wsj.com/economics/2009/...-already-over/
http://blogs.wsj.com/economics/2009/...-already-over/
The recession is over! (???)
- Thread starter sickboy
- Start date
mantisman51
Active Member
The problem is that the banks took our money and are paying back a fraction-they are paying back at the cost of their stock at the lowest value rather than at the true preferred stock rate. Effectively the company I work for (the largest credit card company by sales) will be paying HALF the money obtained from the government. The dirty little secret is that what our company recieved in funds is tied to the value of stock, so we are actually paying early to effectively cut the loan payoff by half and settle the remaining preferred stock at 1/3 the guaranteed value. Yep, the Dems are in the tank for BIG BUSINESS, just like the Reps. To add insult and more injury to injury, they are also refusing to loan any more money to keep a "cushion" of cash to offset the recession-which all the banks are adding to by not lending.
mantisman51
Active Member
The main point is, the banks are looking good now. So WSJ thinks the economy is rebounding.
sickboy
Active Member
Originally Posted by mantisman51
http:///forum/post/3078982
The main point is, the banks are looking good now. So WSJ thinks the economy is rebounding.
I see what you are saying, and don't disagree, but stock price is not what the article is about, its about unemployment.
http:///forum/post/3078982
The main point is, the banks are looking good now. So WSJ thinks the economy is rebounding.
I see what you are saying, and don't disagree, but stock price is not what the article is about, its about unemployment.
mantisman51
Active Member
Yes, that is the main thrust of this article. But, if you dovetail this story with the other WSJ articles the last two weeks, you'd see the trend. WSJ at one point said unemployment will lag behing corporate profits but would be turning around after the banks return to profit, which they are. Sorry, I am still not thinking and speaking clearly since the wreck on Saturday. Sometimes my thoughts seem random.
stdreb27
Active Member
So lets get this straight, while we still have growth, we have a recession. When we experience 5.5% annualized contraction last quarter, and a still declining 9.5% unemployment, the recession has probably aready ended.
This is simply another article arguing that white is really black.
It is kind of insulting actually.
This is simply another article arguing that white is really black.
It is kind of insulting actually.
deejeff442
Active Member
i have been in business for over 15 yrs.
my homeowner work has all but stopped.
nobody is spending right now.
luckilly my builders i work for are kinda keeping me busy now.
one good thing about this is it will get rid of the hackers out there.same thing happened after 9/11 then a year later it was the best year i had.
this economy will straighten itself out but it will take longer if the govt. keep sticking thier nose in it.
my homeowner work has all but stopped.
nobody is spending right now.
luckilly my builders i work for are kinda keeping me busy now.
one good thing about this is it will get rid of the hackers out there.same thing happened after 9/11 then a year later it was the best year i had.
this economy will straighten itself out but it will take longer if the govt. keep sticking thier nose in it.
lovethesea
Active Member
it also seems some companies are just going with the "flow" of laying of. Just "doing it to be doing it". Yes, I think a lot of companies are just using this as an excuse.
Also before we pass another stimulus.......the govnt needs to state that you can't take a hand out and fire/layoff Americans and THEN take your business to Canada/Mexico/India/where ever the heck............!!!!! GM/Chrylser closing plants in the U.S and doubling up in Canada and Mexico. Something not right there.
Also before we pass another stimulus.......the govnt needs to state that you can't take a hand out and fire/layoff Americans and THEN take your business to Canada/Mexico/India/where ever the heck............!!!!! GM/Chrylser closing plants in the U.S and doubling up in Canada and Mexico. Something not right there.
aquaknight
Active Member
Originally Posted by lovethesea
http:///forum/post/3080064
Also before we pass another stimulus.......the govnt needs to state that you can't take a hand out and fire/layoff Americans and THEN take your business to Canada/Mexico/India/where ever the heck............!!!!! GM/Chrylser closing plants in the U.S and doubling up in Canada and Mexico. Something not right there.
How many plants has GM and/or Chrysler opened up in Mexico/Canada since taking money?
http:///forum/post/3080064
Also before we pass another stimulus.......the govnt needs to state that you can't take a hand out and fire/layoff Americans and THEN take your business to Canada/Mexico/India/where ever the heck............!!!!! GM/Chrylser closing plants in the U.S and doubling up in Canada and Mexico. Something not right there.
How many plants has GM and/or Chrysler opened up in Mexico/Canada since taking money?
mantisman51
Active Member
Add to that the fact that with this cap and trade law they're passing; companies will just close manufacturing here and move it to India and China who are excluded from the carbon emissions standards.
lovethesea
Active Member
Originally Posted by AquaKnight
http:///forum/post/3080111
How many plants has GM and/or Chrysler opened up in Mexico/Canada since taking money?
I didn't say OPEN up, I said continue running operations and even increasing to make up for closure here.
http:///forum/post/3080111
How many plants has GM and/or Chrysler opened up in Mexico/Canada since taking money?
I didn't say OPEN up, I said continue running operations and even increasing to make up for closure here.