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  1. #1 Recent data show economy slowing -- sharply 
    Destroyer of Worlds Apocalypse's Avatar
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    PORT WASHINGTON, N.Y. (MarketWatch) -- The fledgling economic recovery appears to be running out of gas.

    The fuel for this or any other recovery has to come from the consumer. Purchases of goods and services by people like you and me account for about 70% of gross domestic product, so without our help a recovery could not last too long.

    Guess what? This is exactly what seems to be happening. Retailers report that, for the most part, shoppers are few and far between.

    The recent run of economic data is most compelling. Just about all of the reports paint a picture of an economy slowing -- and sharply, at that.

    Here are just a few:

    *

    Both consumer confidence and sentiment have fallen unexpectedly.
    *

    After-tax personal incomes adjusted for inflation have flattened.
    *

    Sales of both new and existing homes took a surprising stumble.
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    Orders for most durable goods are down.
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    Manufacturing has slowed.
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    Jobless claims are up.
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    Fourth-quarter GDP growth came largely from a slower pace of inventory liquidation, not from an increase in consumer spending.
    *

    And, as a matter of fact, consumer spending weakened last quarter.

    Understand that the changes in the data above were not insignificant:

    *

    Consumer confidence fell to a 27-year low.
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    New-home sales fell to record lows, and they are likely to fall even further, since mortgage applications are down to 13-year lows.

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    Existing-home sales are down two months in a row to a seven-month low.
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    First-time claims for unemployment benefits have risen in six of this year's first eight weeks.
    *

    And new orders excluding transportation fell 0.6%; orders for capital goods fell 2.5%, and capital spending itself was down a thumping 3.5%.

    http://www.marketwatch.com/story/eco...2?pagenumber=1

    If the Econ. tanks again, Dems are done come Nov.
    Rest In Peace America
    July 4, 1776 - January 20, 2009
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  2. #2  
    Senior Member Constitutionally Speaking's Avatar
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    I could have told you this (and did) a year ago. :D



    The recovery we had was simply the reaction to the price of oil plummeting - just like the recession we had was set off by the price of oil skyrocketing.

    Now the Mortgage crisis, made it much worse - but the match that lit the fuse was oil prices.

    Now that the Obama administration is sucking up every penny of capital that SHOULD be used by private business to expand (and create jobs), the chances of a real and lasting recovery are slim.

    The current administrations actions are also setting us up for near (if not actual) hyper-inflation.


    We are in for some rough times folks.
    Last edited by Constitutionally Speaking; 03-07-2010 at 10:21 AM.
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  3. #3  
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    I'm a 60 - something year old dude, and I tell ya the truth, I am terrified about this economy. I can see where things can get real, real bad. Maybe even real, real, real bad.

    And it won't be just the Dems that pay the price; it'll be everyone who had a political position when the doo-doo gets in the fan.

    Problem is, there are lots of people who SAY they are conservative, but when the time comes to vote they vote liberal. That's how FDR managed to stay in power and why the depression lasted so long.

    Case in point?:
    Jim Bunning, who voted against (it was one vote, fer Pete's sake) extending unemployment payments without funding it gets hardballs tossed at him! Tomatoes, too!

    We're lucky. Things went our way for a few years, so we got the house and rental properties paid for and I'll probably retire the end of 2010, but if I'm as skeered then as I am now I may keep right on truckin' (Literally).
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  4. #4  
    PORCUS MAXIMUS Rockntractor's Avatar
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    We never got out of the last recession no matter what they say. I'm still working but I have no guarantees that it will last. politics aside things could get really bad and devastate a lot of people. I always prepare for the worst and the last few years that is what we are given.
    Hope and change, hope for what? We are seeing the change and it's not good
    what will it take for us to fully realize this is no normal downturn and we are losing our country?
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  5. #5  
    Super Moderator BadCat's Avatar
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    With companies like mine essentially shutting down their Research & Development divisions, it is not a good omen for the future.

    rm -rf obama*
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    Administrator SaintLouieWoman's Avatar
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    Quote Originally Posted by TruckerMe View Post
    I'm a 60 - something year old dude, and I tell ya the truth, I am terrified about this economy. I can see where things can get real, real bad. Maybe even real, real, real bad.

    And it won't be just the Dems that pay the price; it'll be everyone who had a political position when the doo-doo gets in the fan.

    Problem is, there are lots of people who SAY they are conservative, but when the time comes to vote they vote liberal. That's how FDR managed to stay in power and why the depression lasted so long.

    Case in point?:
    Jim Bunning, who voted against (it was one vote, fer Pete's sake) extending unemployment payments without funding it gets hardballs tossed at him! Tomatoes, too!

    We're lucky. Things went our way for a few years, so we got the house and rental properties paid for and I'll probably retire the end of 2010, but if I'm as skeered then as I am now I may keep right on truckin' (Literally).
    Things are really scary for retirement age folks. A 60 year old wrote a letter to the editor of the lib rag, the St Louis Post-Disptach the other day. He was objecting to the latest idea of our pols. The Fair Tax being proposed here (they're trying to put it on the ballot in November) will eliminate the state 6% income tax.

    The problem is that the government never gives anyone an even break. They're proposing additional sales taxes on everything, including the purchase of homes, which have never been taxed before. :eek:

    The gentleman objected to paying state income tax (6%) during his entire career, now being taxed when he wants to buy a different house, plus a myriad of other things. It's a nightmare for the regular folks.

    Gotta love those pols!
    Last edited by SaintLouieWoman; 03-07-2010 at 11:46 AM.
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  7. #7  
    Senior Member Constitutionally Speaking's Avatar
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    Quote Originally Posted by BadCat View Post
    With companies like mine essentially shutting down their Research & Development divisions, it is not a good omen for the future.
    There is absolutely no reason for R&D if you are not allowed to profit from that R&D. With the tax code set to once again punish success, this will be the norm.

    What is worse is the long term implications for competitiveness - without the R&D, other countries that actually allow profit and encourage entrepreneurship, will eat our lunch economically. They will drive our companies out of business (or as has been the case - our companies will simply leave for better places).


    The long term benefits of investment tax credits, capital gains tax cuts and other tax policies that are constantly derided as "for the rich" are huge.

    If you look at the jobs created since the 1980's - a very large percentage of them were as a result of the Reagan tax cuts. Either major companies started new divisions to take advantage of them, or start up companies got capital from investors that allowed them to develop a marketable product.
    Last edited by Constitutionally Speaking; 03-07-2010 at 12:09 PM.
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  8. #8  
    Best Bounty Hunter in the Forums fettpett's Avatar
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    Quote Originally Posted by SaintLouieWoman View Post
    Things are really scary for retirement age folks. A 60 year old wrote a letter to the editor of the lib rag, the St Louis Post-Disptach the other day. He was objecting to the latest idea of our pols. The Fair Tax being proposed here (they're trying to put it on the ballot in November) will eliminate the state 6% income tax.

    The problem is that the government never gives anyone an even break. They're proposing additional sales taxes on everything, including the purchase of homes, which have never been taxed before. :eek:

    The gentleman objected to paying state income tax (6%) during his entire career, now being taxed when he wants to buy a different house, plus a myriad of other things. It's a nightmare for the regular folks.

    Gotta love those pols!
    um...must be a bastardized form of the Fair Tax that they are purposing. In the Fair Tax system only NEW constructions are suppose to be taxed at sale, but even then the cost will/should be lower due to the construction being cheaper since the company wont have to pay income taxes (albeit in this case still have to pay Fed taxes, just not state).

    Or this is a case of someone with a lot of Misinformation spewing it to the rag of a newspaper
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  9. #9  
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    Obama is making things worse. He does not have a clue of how to spur economic growth. Business's will not expand with the uncertainty of increased health care costs, energy taxes (cap and trade), payroll taxes, etc. Nov. 2 can not come quick enough to turn this freight train around.
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  10. #10  
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    Quote Originally Posted by fettpett View Post
    um...must be a bastardized form of the Fair Tax that they are purposing. In the Fair Tax system only NEW constructions are suppose to be taxed at sale, but even then the cost will/should be lower due to the construction being cheaper since the company wont have to pay income taxes (albeit in this case still have to pay Fed taxes, just not state).

    Or this is a case of someone with a lot of Misinformation spewing it to the rag of a newspaper
    Yeah, I was a little confused by SLW's post, too. I thought I understood the Fair Tax..........I'm kinda new here - No, I'm actually REAL new - and haven't noticed a Fair Tax discussion going on. Can you guide me?

    Also. They're trying to get it on a November ballot??!! Man, I just don't see this good, fair, tax law being passed by this congress. And I sure as hell don't want it defeated and then stained with past defeat. Better, I say, to wait until victory is within sight, and for right now I don't think it is.
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