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Bad news for Miller
Topic Started: Oct 29 2011, 01:54 AM (390 Views)
Thumper
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Fire & Ice Senior Diplomat
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Economy surpasses pre recession level.
http://money.msn.com/business-news/article.aspx?feed=BLOOM&date=20111028&id=14449745&
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Deleted User
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woohoo great news!
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BUCK
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http://www.fxstreet.com/technical/forex-signals/indices-and-oil-strategies/2011/10/28/
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tomdrobin
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If the GDP is back to pre recession levels, and the unemployment is still high. Doesn't that make the case that OWS is trying to make? The rich are getting rich and the poor getting poorer? Bananna Republic here we come.
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Chris
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Economy in U.S. Surpasses Pre-Recession Level:
Quote:
 
The value of goods and services produced in the U.S. surpassed its pre-recession level after 15 quarters, taking three times longer than the average for 10 previous recoveries since World War II....

...“The American economy finally has accomplished the recovery and has now entered the expansion,” said Neal Soss, chief economist with Credit Suisse in New York, who was an aide to former Federal Reserve Chairman Paul Volcker. “But the growth is clearly too slow to solve the most significant problems the economy faces: jobs and getting the public budgets under control.”...

...Consumers reduced savings to boost purchases and companies stepped up investment in equipment and software, even as the biggest drop in incomes in two years raises concerns about whether the spending increase will continue....

... Government spending stagnated, continuing to restrain growth. A 2 percent gain in federal outlays was offset by a 1.3 percent drop in spending by state and local agencies.

America can survive its government.
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Deleted User
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The only trouble is this is not an American problem. For the first time the entire world is affected in a large way. The world economies are a lot more interdependent than they were even in the last recession. If not for the European crisis, the US would be well into recovery by now.

One also has to wonder what the effect of all those troops returning form Iraq will have on the job market. That is why Congress needs to pass the infrastructure bill and go way beyond it. It's Eisenhower time.
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Chris
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"The world economies are a lot more interdependent"

Read some history, the world economies have always been interdependent. Despite the rise and fall of monarchies and theocracies and democracies and their attempts to manage trade, free trade carries on.

Seems to irritate some it can't be designed and engineered.
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Deleted User
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Sure, but not to the extent they are today. Not by long shot.
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Chris
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Right, because in ancient times governments couldn't control markets the way they manage them and empower corporations today.
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Deleted User
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Yes & look at the mess corporations have made of the economy over the last few decades. The show American Greed, for eg, has enough material to produce shows for a century.
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