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Economy- New Poll

Do You think the US Economy is Heading into or in a Recession--or a Depression?

  • No-the Economy is doing Fine

    Votes: 0 0.0%
  • Yes- a mild short Recession

    Votes: 0 0.0%
  • Yes- a prolonged Recession/Depression

    Votes: 0 0.0%
  • Economic Collapse

    Votes: 0 0.0%

  • Total voters
    0

hopalong

Well-known member
backhoeboogie said:
Oldtimer said:
And Just so you don't forget- remember as to what I started saying 3-4 years ago was going to happen

It is going to rain some day OT. When it does, I'm going to say I told you so.

You been whining about these things and these polls hit over and over.

The economy is still expanding in Texas.

The Obama scare has a stifle affect on most investors at the moment.

Gun and ammunition sales have gone through the roof.

Spray paint sales might be good today.

Don't forget that kool aid prices have skyrocketed by mere demand issiues.
 

Texan

Well-known member
Bump. Why has this thread dropped way down on the second page? Don't we want to talk about the stock market anymore? :lol:

Dow down almost 500 yesterday and getting close to 300 down already this morning. The next giant sucking sound - capital leaving this country looking for a more friendly place to invest. :(
 

Texan

Well-known member
CattleArmy said:
You honestly thought it would just bounce back?
Actually, I KNEW that it wouldn't if Obama won. But this type of drop right after electing HOPE doesn't reflect much confidence, does it? HOPE?
 

aplusmnt

Well-known member
CattleArmy said:
You honestly thought it would just bounce back?

Wasn't it up like 300 points the day of the election or day before? The polls were showing McCain closing the gap and there was a little sign of hope that he may win the election.

Then once Obama got elected the Stock Market dropped a record amount for the day after a Presidential election. Normally the solving of uncertainty in the election causes a rally the day after the election.

Obama did not bring any economic hope to the market. It is sad that ignorant people voted him in as President under the hope he would help the economy. But the more educated people that invest in the stock market know better!

I guess people (50%) that do not pay taxes anyway, but want that tax break Obama promised them just don't pay into the Markets.
 

Yanuck

Well-known member
aplusmnt said:
CattleArmy said:
You honestly thought it would just bounce back?

Wasn't it up like 300 points the day of the election or day before? The polls were showing McCain closing the gap and there was a little sign of hope that he may win the election.

Then once Obama got elected the Stock Market dropped a record amount for the day after a Presidential election. Normally the solving of uncertainty in the election causes a rally the day after the election.

Obama did not bring any economic hope to the market. It is sad that ignorant people voted him in as President under the hope he would help the economy. But the more educated people that invest in the stock market know better!

I guess people (50%) that do not pay taxes anyway, but want that tax break Obama promised them just don't pay into the Markets.

NEW YORK, Nov 5 (Reuters) - Wall Street hardly delivered a
rousing welcome to President-elect Barack Obama on Wednesday,
dropping by the largest margin on record for a day following a U.S.
presidential contest. The slide more than wiped out the previous day's advance, the
largest Election Day rally ever for U.S. stocks. The following table shows the percentage rise or decline in the
Dow Jones industrial average .DJI, Standard & Poor's 500 index
.SPX and Nasdaq composite index .IXIC on the day after a U.S
presidential election and who won the Election Day vote.
Year Dow S&P Nasdaq President elect
2008 -5.05 -5.27 -5.53 Barack Obama
2004 +1.01 +1.12 +0.98 George W. Bush
2000 -0.41 -1.58 -5.39 No decision: G.W. Bush v Al Gore*
1996 +1.59 +1.46 +1.34 William Clinton
1992 -0.91 -0.67 +0.16 William Clinton
1988 -0.43 -0.66 -0.29 George H. W. Bush
1984 -0.88 -0.73 -0.32 Ronald Reagan
1980 +1.70 +1.77 +1.49 Ronald Reagan
1976 -0.99 -1.14 -1.12 James Carter
1972 -0.11 -0.55 -0.39 Richard Nixon
1968 +0.34 +0.16 --- Richard Nixon
1964 -0.19 -0.05 --- Lyndon Johnson
1960 +0.77 +0.44 --- John Kennedy
1956 -0.85 -1.03 --- Dwight Eisenhower
1952 +0.40 +0.28 --- Dwight Eisenhower
1948 -3.85 -4.15 --- Harry Truman
1944 -0.27 0.00 --- Franklin Roosevelt
1940 -2.39 -3.14 --- Franklin Roosevelt
1936 +2.26 +1.40 --- Franklin Roosevelt
1932 -4.51 -2.67 --- Franklin Roosevelt
1928 +1.20 +1.77 --- Herbert Hoover
1924 +1.17 --- --- Calvin Coolidge
1920 -0.57 --- --- Warren Harding
1916 -0.35 --- --- Woodrow Wilson
1912 +1.83 --- --- Woodrow Wilson
1908 +2.38 --- --- William Taft
1904 +1.30 --- --- Theodore Roosevelt
1900 +3.33 --- --- William McKinley
1896 +4.54 --- --- William McKinley
* George W. Bush ultimately was determined the winner of the 2000
election.
Source: Reuters EcoWin
 

hopalong

Well-known member
Oldtimer said:
Steve said:
OldTimer
Have you talked to your banker about your operating loan lately-- money is tighter than a cats arse......

well oT you either complain about lax lending or you complain about money being tight..... which bothers you more?..

I just increased my credit line.. the rate was good.. just over 5%,.

and I have 90 days to lock.. so with the fed talking of dropping another half point.. I'll be okey...

BTW we are not at $5 fuel ... it is closer to $3 then five.. $5..

Not complaining- as I don't have to rely on operating notes anymore--but it sure has been tight for many that may go under if they can't get the funding to stock- and produce...Which will just keep the domino fall going.....

Diesel Fuel is right at $4 dollars here the other day- some areas of the country as high as $4.20- with the predictions it will be over $5 by the summer.....Oh thats right-you and your "der Furhrer" don't follow fuel prices... :wink: :lol: :p

Gas, Diesel Rocket to Record Highs
By JOHN WILEN – 2 days ago

NEW YORK (AP) — The rally in energy prices gained momentum Friday, with retail gas prices rising further into record territory and diesel and heating oil futures setting records of their own amid concerns about strong global demand and tight supplies.

Crude oil prices fell modestly as a sharp downturn in the stock market and worries about the economy prompted some profit-taking. But with the Federal Reserve expected to cut interest rates again next week, analysts expect the dollar to weaken further, propelling crude to new records.

At the pump, gas prices set records for the fourth straight day, rising 1.3 cents Friday to a national average price of $3.28 a gallon, according to AAA and the Oil Price Information Service. Average prices are nearing $4 in some parts of Hawaii.

Diesel, meanwhile, rose 2.9 cents to a new record national average of $3.938 a gallon. Heating oil, a fellow distillate and close cousin of diesel, jumped to new records on the New York Mercantile Exchange.

No need for operating notes if all you do is set in front of a tv or computor all day, being on your wifes welfare line suts you to a "t" too lazy to do any real work!!Don't you know that setting around all day is bad for your health, makes you fatter!!!
 

CattleArmy

Well-known member
hopalong said:
Oldtimer said:
Steve said:
OldTimer

well oT you either complain about lax lending or you complain about money being tight..... which bothers you more?..

I just increased my credit line.. the rate was good.. just over 5%,.

and I have 90 days to lock.. so with the fed talking of dropping another half point.. I'll be okey...

BTW we are not at $5 fuel ... it is closer to $3 then five.. $5..

Not complaining- as I don't have to rely on operating notes anymore--but it sure has been tight for many that may go under if they can't get the funding to stock- and produce...Which will just keep the domino fall going.....

Diesel Fuel is right at $4 dollars here the other day- some areas of the country as high as $4.20- with the predictions it will be over $5 by the summer.....Oh thats right-you and your "der Furhrer" don't follow fuel prices... :wink: :lol: :p

Gas, Diesel Rocket to Record Highs
By JOHN WILEN – 2 days ago

NEW YORK (AP) — The rally in energy prices gained momentum Friday, with retail gas prices rising further into record territory and diesel and heating oil futures setting records of their own amid concerns about strong global demand and tight supplies.

Crude oil prices fell modestly as a sharp downturn in the stock market and worries about the economy prompted some profit-taking. But with the Federal Reserve expected to cut interest rates again next week, analysts expect the dollar to weaken further, propelling crude to new records.

At the pump, gas prices set records for the fourth straight day, rising 1.3 cents Friday to a national average price of $3.28 a gallon, according to AAA and the Oil Price Information Service. Average prices are nearing $4 in some parts of Hawaii.

Diesel, meanwhile, rose 2.9 cents to a new record national average of $3.938 a gallon. Heating oil, a fellow distillate and close cousin of diesel, jumped to new records on the New York Mercantile Exchange.

No need for operating notes if all you do is set in front of a tv or computor all day, being on your wifes welfare line suts you to a "t" too lazy to do any real work!!Don't you know that setting around all day is bad for your health, makes you fatter!!!

Advice from someone who knows???
 
A

Anonymous

Guest
Its just like I've said for 3 years- Bush has led us into a Depression- just like Hoover did- and it doesn't matter who is President to be, its too late to stop the Domino theory which has been and currently is in effect and will continue for years to come...
Its only hopeful the right person is in office to keep those unemployed- and the elderly that have lost all their investments from having to hit the breadlines- and can put out a plan to rebuild the US infrastructure and US industry and put US products and US workers first to rebuild the country.....

REMEMBER- 3 Years ago:

I TOLD YOU SO :(

Trump: It’s 1929 All Over Again

Thursday, November 6, 2008 10:26 AM

By: Greg Brown

Billionaire developer Donald Trump says that the banks are a total disaster and warns that the United States could relive 1929 and the resulting economic collapse of the Depression if something isn’t done soon to restore normal lending.


But, Trump told Fox News, he believes President-elect Barack Obama will do “no worse than Bush” in handling the aftermath of the credit crisis.


The $700 billion bailout should be helping the banking system to recover, but there’s really no playbook for this kind of crisis, so the result is chaos, Trump says.


“It's a very scary time. And people are doing things that they've never done before. They're experimenting. It's all one big experiment that nobody knows how the experiment is going to end,” Trump says.


The banks have the money now, Trump complains, but they are not loaning it out.


“No matter how strong you are, you can't borrow 10 cents,” Trump says. “And, I will tell you, this could lead to something very, very bad for the country and for the world.”


“It's a very serious problem, the likes of which we have not seen since 1929.”



As for Obama, Trump is hopeful, despite the nearly 500-point drop in stocks the day after Obama’s win on Tuesday.


“Hopefully, he's going to do a great job. But the way I look at it, he cannot do worse than Bush.”


Obama’s transition team is already at work, and pundits expect key posts to be named quickly in order to give investors a sense that the transition will go smoothly.


One top post will be Treasury Secretary. Current Secretary Henry Paulson warned months ago he would not stay on, despite the gravity of the bank crisis.


"This is one of the first times that I can remember that the Secretary of the Treasury is going to be almost as important as the Secretary of State," David Gergen, who served in the Reagan and Clinton administrations, told CNN.

http://money.newsmax.com/streettalk/trump_banks_obama/2008/11/06/148418.html?s=al&promo_code=707B-1
 

Mike

Well-known member
Trump? :lol: :lol: :lol:

I guess Bush caused his last 3 bankruptcies too? :lol: :lol:

Go back to being a Father figure to those grandbabies. They need you. :roll:
 

hopalong

Well-known member
Oldtimer said:
Its just like I've said for 3 years- Bush has led us into a Depression- just like Hoover did- and it doesn't matter who is President to be, its too late to stop the Domino theory which has been and currently is in effect and will continue for years to come...
Its only hopeful the right person is in office to keep those unemployed- and the elderly that have lost all their investments from having to hit the breadlines- and can put out a plan to rebuild the US infrastructure and US industry and put US products and US workers first to rebuild the country.....

REMEMBER- 3 Years ago:

I TOLD YOU SO :(

Trump: It’s 1929 All Over Again

Thursday, November 6, 2008 10:26 AM

By: Greg Brown

Billionaire developer Donald Trump says that the banks are a total disaster and warns that the United States could relive 1929 and the resulting economic collapse of the Depression if something isn’t done soon to restore normal lending.


But, Trump told Fox News, he believes President-elect Barack Obama will do “no worse than Bush” in handling the aftermath of the credit crisis.


The $700 billion bailout should be helping the banking system to recover, but there’s really no playbook for this kind of crisis, so the result is chaos, Trump says.


“It's a very scary time. And people are doing things that they've never done before. They're experimenting. It's all one big experiment that nobody knows how the experiment is going to end,” Trump says.


The banks have the money now, Trump complains, but they are not loaning it out.


“No matter how strong you are, you can't borrow 10 cents,” Trump says. “And, I will tell you, this could lead to something very, very bad for the country and for the world.”


“It's a very serious problem, the likes of which we have not seen since 1929.”



As for Obama, Trump is hopeful, despite the nearly 500-point drop in stocks the day after Obama’s win on Tuesday.


“Hopefully, he's going to do a great job. But the way I look at it, he cannot do worse than Bush.”


Obama’s transition team is already at work, and pundits expect key posts to be named quickly in order to give investors a sense that the transition will go smoothly.


One top post will be Treasury Secretary. Current Secretary Henry Paulson warned months ago he would not stay on, despite the gravity of the bank crisis.


"This is one of the first times that I can remember that the Secretary of the Treasury is going to be almost as important as the Secretary of State," David Gergen, who served in the Reagan and Clinton administrations, told CNN.

http://money.newsmax.com/streettalk/trump_banks_obama/2008/11/06/148418.html?s=al&promo_code=707B-1


Yes MISS CLEO with all your far seeing powers YOU CLAIM TO HAVE TOLD US. what you failed to do was capitalize on your predictions, :roll: :roll: :roll: :roll:
You are pathetic in your attempts to convince anyone of anything!!
 

aplusmnt

Well-known member
Oldtimer said:
Its just like I've said for 3 years- Bush has led us into a Depression- just like Hoover did- and it doesn't matter who is President to be, its too late to stop the Domino theory which has been and currently is in effect and will continue for years to come...
Its only hopeful the right person is in office to keep those unemployed- and the elderly that have lost all their investments from having to hit the breadlines- and can put out a plan to rebuild the US infrastructure and US industry and put US products and US workers first to rebuild the country.....

REMEMBER- 3 Years ago:

I TOLD YOU SO :(

Depression?????????? Have we even had an official Recession yet?

You did not tell us crap! There is no Depression, just your lazy butt does not know how to make money so now you think everyone else is like you!

Sounds like you are making excuses for Obama before he ever tries. Kind of like him saying it may not be solved in his first term.

These problems are easy to solve. All they have to do is lower personal taxes, lower corporate taxes, lower government spending and do away with Capital gains taxes, do away with Death Tax. Do all that and We will have a booming economy like even we have never had before.

Wouldn't take even two years to fix!

O yea and quit forcing people to carry lazy and poor people on their backs, if they can not afford to own a home then they need to rent, works for millions in big cities it will work for them!
 
A

Anonymous

Guest
Aplus
Depression?????????? Have we even had an official Recession yet?

They're already admitting to it being a very severe recession- which I still believe is in freefall toward a depression- The BUSH BUST...
Only Bush couldn't get himself to say the "r" word- and his hesitancy and fiddling while Wall Street collapsed around him is one of the reasons it will be so deep....


Greenspan: Clearly in Severe Recession

Friday, November 7, 2008 5:00 PM

Former Federal Reserve Chairman Alan Greenspan said Friday there is no doubt the world economy is in a very severe recession and that U.S. gross domestic product will decline significantly in the last three months of the year.


Speaking at a business lunch in Toronto, Greenspan said the economy is not quite in a free fall but something close to it.


"That we are in a recession, very severe, there's no question," Greenspan said. "Gross domestic product in the United States in the fourth quarter is going to be down significantly."
==============
In his testimony before the U.S. House Oversight Committee last month, Greenspan acknowledged that the crisis has exposed flaws in his thinking and in the workings of the free-market system.


He said then that his belief that banks would be more prudent in their lending practices because of the need to protect their stockholders had been proven wrong by the current crisis. He called this a "mistake" in his views and said he had been shocked by that.


http://moneynews.newsmax.com/streettalk/canada_greenspan/2008/11/07/148998.html


Fed Official: We Need Serious Action

Friday, November 7, 2008 2:33 PM

Forceful Federal Reserve policy measures will not quickly prevent a U.S. recession from getting worse, a top central banker said on Friday, hinting that further bold action may be needed.


"Now is not a time to be tentative," Atlanta Fed President Dennis Lockhart told a business luncheon in prepared remarks.


"The U.S. economy in September and October appeared to weaken dramatically ... Problems are now broad-based," said Lockhart, who will be a voting member of the Fed's interest rate-setting committee next year.


The U.S. economy was already in recession, he said, adding growth in the fourth quarter may notch a steeper decline than the 0.3 percent annualized fall of the previous three months.

http://moneynews.newsmax.com/streettalk/lockhart_recession/2008/11/07/148938.html

Retail Sales Collapse, Grim Holiday Ahead

Thursday, November 6, 2008 9:09 AM

Retail sales results darkened prospects for what was already expected to be one of the worst holiday sales seasons in up to 20 years.
U.S. retail chains posted the worst monthly sales data in this decade
as consumers stunned by a financial crisis that has derailed the U.S. economy cut spending sharply in October.


The results darkened prospects for what was already expected to be one of the worst holiday sales seasons in up to 20 years.

http://moneynews.newsmax.com/streettalk/retail_sales/2008/11/06/148384.html
 
A

Anonymous

Guest
And the Bush Bust march's on as the dominoes continue to fall...And they are still trying to teach GW the "r" word.... :roll: :wink: :lol:

With calves being sold for $150- 200 per head less than last year, the rural areas of the country will start feeling it now with Christmas shopping time- and the end of the year when folks won't have the money to, or have to buy a new feed pickup or farm equipment for tax deductions...

Thanks GW :roll: :wink:

I TOLD YOU SO!!!! :wink: :lol: :lol: :lol: :lol:

Retail Sales Fall Record 2.8 Percent in October

Friday, November 14, 2008 9:00 AM

WASHINGTON -- Retail sales plunged by the largest amount on record in October as the financial crisis and the slumping economy caused consumers to sharply cut back on their spending.


The Commerce Department said Friday that retail sales fell by 2.8 percent last month, surpassing the old mark of a 2.65 percent drop in November 2001 in the wake of the terrorist attacks that year.


The decline in sales was led by a huge drop in auto purchases, but sales of all types of products from furniture to clothing fell as consumers retrenched.


The 2.8 percent drop marked the fourth consecutive monthly decline in retail sales and was much bigger than the 2 percent fall economists expected.

http://moneynews.newsmax.com/economy/retail_sales_plunge/2008/11/14/151243.html
 

Mike

Well-known member
You are definitely one short-sided individual.............

The USA has been operating on a "Buy Now - Pay Later" system put in place after WWII. (Massive home buying)

This same system has escalated through several administrations.

The proliferation of credit card usage has been a ongoing phenomenon for the past 20-30 years, and has propped up the retail market almost single-handedly.

But one day the piper has to be paid, and in the same instant that world demand for oil moved prices for that commodity past what the consumer could afford on a cash basis..... That, with the unsubstanciated price growth in the housing market............It literally broke the bank.

Low interest rates.... that have been more conducive to borrowing than for saving hasn't helped either.

George Bush had about as much to do with it as I did. One day there has to be a reckoning and just happened while Bush was there.

The 1998 credit market problem and the "Dot-Com" bust back in 2000 should have been a warning shot over the bow, but no one in Washigton is working for "Long-Term" goals....Only those until the next election cycle.

That goes for both sides of the aisle.

Be realistic. :roll:
 

TexasBred

Well-known member
Oldtimer said:
And the Bush Bust march's on as the dominoes continue to fall...And they are still trying to teach GW the "r" word.... :roll: :wink: :lol:

With calves being sold for $150- 200 per head less than last year, the rural areas of the country will start feeling it now with Christmas shopping time- and the end of the year when folks won't have the money to, or have to buy a new feed pickup or farm equipment for tax deductions...

Thanks GW :roll: :wink:

I TOLD YOU SO!!!! :wink: :lol: :lol: :lol: :lol:

Retail Sales Fall Record 2.8 Percent in October

Friday, November 14, 2008 9:00 AM

WASHINGTON -- Retail sales plunged by the largest amount on record in October as the financial crisis and the slumping economy caused consumers to sharply cut back on their spending.


The Commerce Department said Friday that retail sales fell by 2.8 percent last month, surpassing the old mark of a 2.65 percent drop in November 2001 in the wake of the terrorist attacks that year.


The decline in sales was led by a huge drop in auto purchases, but sales of all types of products from furniture to clothing fell as consumers retrenched.


The 2.8 percent drop marked the fourth consecutive monthly decline in retail sales and was much bigger than the 2 percent fall economists expected.

http://moneynews.newsmax.com/economy/retail_sales_plunge/2008/11/14/151243.html

Enjoy your fun with Bush, OT. Using your thought process, come 1/20 it is not only immediately Obama's problem but also HIS fault.
 
A

Anonymous

Guest
OOPS sorry guys- I forgot people with an (R) by their name can do no wrong- and the fact they ran the countries direction for the last 8 years in the White House- and 12 of the last 14 years in Congress should not be used against them :roll: :wink: :lol: :lol: :p

Yep- must be George Washingtons fault according to the cult folks... :lol: :wink:

Anyway I like to remind you I TOLD YOU SO- when it became clear what Bush was doing....Now the only question is how bad does it get.... :???:
 

Mike

Well-known member
Oldtimer said:
OOPS sorry guys- I forgot people with an (R) by their name can do no wrong- and the fact they ran the countries direction for the last 8 years in the White House- and 12 of the last 14 years in Congress should not be used against them :roll: :wink: :lol: :lol: :p

Yep- must be George Washingtons fault according to the cult folks... :lol: :wink:

Anyway I like to remind you I TOLD YOU SO- when it became clear what Bush was doing....Now the only question is how bad does it get.... :???:
Can't argue the facts, huh? Just as I figured.............. :roll: :mad: :mad:
 

TSR

Well-known member
Oldtimer said:
OOPS sorry guys- I forgot people with an (R) by their name can do no wrong- and the fact they ran the countries direction for the last 8 years in the White House- and 12 of the last 14 years in Congress should not be used against them :roll: :wink: :lol: :lol: :p

Yep- must be George Washingtons fault according to the cult folks... :lol: :wink:

Anyway I like to remind you I TOLD YOU SO- when it became clear what Bush was doing....Now the only question is how bad does it get.... :???:

Yep that 's the question I am wrestling with as I hope to retire next yr. and start another short career.
 

hopalong

Well-known member
Oldtimer said:
OOPS sorry guys- I forgot people with an (R) by their name can do no wrong- and the fact they ran the countries direction for the last 8 years in the White House- and 12 of the last 14 years in Congress should not be used against them :roll: :wink: :lol: :lol: :p

Yep- must be George Washingtons fault according to the cult folks... :lol: :wink:

Anyway I like to remind you I TOLD YOU SO- when it became clear what Bush was doing....Now the only question is how bad does it get.... :???:

Yes Miss Cleo, you have nothinhg to worry about right? You made all the right investments right? You sold all your cattle when the market was high right?You bought up all the property that was for sale so you would have enough acreage to keep all your cattle uuntuil the market gets better right?
If you are so freaking smart why arn't you running the country?
OPPPS could it be you couldn't get relected in your own county as sheriff??
Come on oldtimer tell us all just how smart you are.
:roll: :roll: :roll: :roll:
 

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