Recession? We don' need no steenkeen recession!
- Thread starter jimpeel
- Start date
2minkey
bootlicker
well, there has been a gradual dumbing down accompanied by a gradual racheting up of debt spending. it's another case of people not paying attention and buying what they can't afford. fuck 'em. idiots.
(and hey, our government is setting a great example!)
sorry spike, but i ain't gonna join you in sympathizing with dipshits, even if their stark dipshititude is more culturally acceptable these days to those that have lost their way.
(and hey, our government is setting a great example!)
sorry spike, but i ain't gonna join you in sympathizing with dipshits, even if their stark dipshititude is more culturally acceptable these days to those that have lost their way.
jimpeel
Well-Known Member
GDP is a monetary figure...of course it's based on price of goods. They're not measuring how many gallons of gas/barrels of oil/bags of rice are sold and giving it an arbitrary and static figure, they're using market-value totals. That's what inflation is all about.
Inflation is driven by printing more money than the value of the goods that money represents.
Take gold for instance. The value of gold has not changed; only the number of dollars needed to purchase it. The same amount of gold which would buy a fine suit of clothes in 1920 will buy that same fine suit of clothes today. That gold will buy the same amount of goods and services today that it would buy in 1920.
jimpeel
Well-Known Member
*So if I err I am supposed to leave it posted in its errant state? That is what the edit function is for.
jimpeel
Well-Known Member
The "official" government numbers on inflation are simply fabrications. As oil was going from $100 to $130/bbl, and gasoline in the US was marching up to $4/gal - the US government reported a *FALL* in the price of petroleum products.
Similarly, they said food prices were *only* up 4%, but most independent sources cited rises of 10% year over year.
Unemployment, according to the same Bureau of Labor Statistics, rose from 4.5% a year ago to 5% this year (that's a 10% rise in unemployment), and since they don't count people who've given up looking for work, that figure is probably understated as well.
Again, according to the BLS, the US economy has lost 260,000 jobs since the beginning of the year. When originally announced, it's often higher than the forecasts to help boost the stock market.
(For example, the flash estimate for Jan08 was 130,000 NEW jobs added; the revised number now posted on the BLS site is 76,000 JOBS LOST.) That's a turnaround of over 200,000 jobs.
Here's another example: the BLS reported Feb08 job losses of 63,000 (http://www.nytimes.com/2008/03/07/business/07cnd-econ.html?hp) but this was later revised to 83,000 jobs lost. http://www.bls.gov/eag/eag.us.htm Yep, that sure sounds like a booming economy to me!
12-Dec 28-May %Change
DJ Ind 13264 12594 -5.05%
SP500 1468 1390 -5.31%
US$DX 76.65 72.61 -5.27%
OIL 95.98 131.03 36.52%
CRB 476 544.66 14.42%
Gold 838 902 7.64%
For those who don't know, US$DX is the US dollar index, a trade-weighted measure of the US dollar's performance against its trading partners. The CRB is the Commodity Research Bureau's overall measure of commodity prices (foods, fibres, metals, etc.).
So, let's add it up, shall we?
Falling stock prices, falling employment, falling dollar, with rising food prices, rising energy prices, and rising house defaults - even among the multi-millionaires in the Hamptons, as was reported this week. Yes, that sounds like a glowing economic picture, doesn't it?
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/01/17/BU5UUGFPN.DTL
catocom
Well-Known Member
well jim, if you want to think my not having any pocket money, when I've
been as frugal as always, maybe more so of late, and that the prices are
just fine with me because I've gotta eat, and go places so I keep making ends meet.....
is not recession, then go right ahead, but you'll never convince me.
I saw what could be done with the numbers in the Clinton admin, and I couldn't
believe it, but this admin has cooked some of them books even worse it seems.
You can put whatever numbers up you want, but people are hurting Now.
been as frugal as always, maybe more so of late, and that the prices are
just fine with me because I've gotta eat, and go places so I keep making ends meet.....
is not recession, then go right ahead, but you'll never convince me.
I saw what could be done with the numbers in the Clinton admin, and I couldn't
believe it, but this admin has cooked some of them books even worse it seems.
You can put whatever numbers up you want, but people are hurting Now.
SouthernN'Proud
Southern Discomfort
somebody Gonz quoted said:
Typical short term thinking. Perfect example of precisely why the market is where it is.
RECIPE FOR CHAOS
One part greedy banking industry
One part shallow consumer
One part spoiled rotten buyer
One part overextended "put it on the MasterCard" credit philosophy
One part Gimme Gimme brand immaturity
Mix all ingredients well. Remove any trace of financial planning, discipline, and self control that may arise. Stir in healthy dose of Keep Up With Joneses mentality and garnish with Misplaced Priority brand status seeking behavior. Serve with "My Identity Is Tied To What I Own and Where I Live Instead Of Who I Am" (recipe on page 4) and watch collapse.
Tastes like shit but people will line up around the block to get their serving of it. Early reports indicate that the preferred side dishes include Starbucks coffee, Williams & Sonoma cookie dough, Panera bread, and anything with the word "organic" on the package.
Me? I prefer homemade biscuits n' gravy. But I'm weird...I don't "fit in".
Boo friggin hoo. Then again, I ain't got my bankruptcy attorney on speed dial or in my Blackberry either.
chcr
Too cute for words
You forgot "one part mindlessly believing that nothing ever changes."
(AKA "Hope for the best, prepare for the worst.")
Just out of curiosity though, can you make biscuits and gravy cheaper than you can buy them out right now? I've figured it out, and most of what I like to eat (and that's nothing special and includes biscuits and gravy) can be had at a moderately priced restaurant for little if any more than I can make it at home. Plus I don't have to do the dishes.
Freudian slip: I typed "grave" instead of "gravy" first. Trying to tell myself something, you suppose?
(AKA "Hope for the best, prepare for the worst.")
Just out of curiosity though, can you make biscuits and gravy cheaper than you can buy them out right now? I've figured it out, and most of what I like to eat (and that's nothing special and includes biscuits and gravy) can be had at a moderately priced restaurant for little if any more than I can make it at home. Plus I don't have to do the dishes.
Freudian slip: I typed "grave" instead of "gravy" first. Trying to tell myself something, you suppose?
catocom
Well-Known Member
yep
It depends on how big of a batch you make at a time.
Good biscuits and gravy warm over well in the microwave for ...oh up to 4-5 days
after.
Recession is two quarters of negative movement in the GDP (negative growth is such horseshit).
Inflation is needing more dollars for the same goods.
Hey now...I'd kill for their Sourdough Baguette
Gato_Solo
Out-freaking-standing OTC member
Hear, hear. You should hear the howls of anger and disdain when I use that same line of reasoning on other sites.
Quality is the missing ingredient from store bought. Usually missing from the restaurant bought too.
chcr
Too cute for words
Depends on what you buy. You can actually buy most stuff a lot cheaper than you can make it. It will taste like (one can only assume) shit...
Typically.
If I'm gonna harden my arteries & risk a debilitating disease, it had damned well better taste good.
catocom
Well-Known Member
yep and from the history I've seen/hear, the 2 go hand in hand. (at least eventually)
SouthernN'Proud
Southern Discomfort
If you're willing to eat gravy out of a bag mixed by some acne-infested 11th grader who washed his hands sometime last month, go right ahead. A little flour, some shortening (if needed, depends on y'sausage) and some milk ain't that expensive. Magically, biscuits is flour, shortening and milk too.
Grammaw raised eight younguns on it. Good enough for me and mine.
Could be. What a way to go though./me imagining Hayseed Dixie doing a remake of Black Sabbath called Children Of The Gravy...
