The US economy grew at a “red-hot” 3.5 percent clip in the third quarter according to the US Commerce Department.The growth was the best boost in two years.The growing economy has been aided by government-supported spending on cars and on homes.
Although the US economy is still fragile with unemployment being at a very high level and the national debt being at record high , the Commerce Department's report on Thursday sent a sharp message that the economy is getting out of its “funk” of being in the worse recession since the Great Depression
The increase reversed the direction of four straight quarters of shrinking economic activity not seen since 1947
The economist expected a 3.3 percent growth rate.
Consumer spending went through the roof.Big-ticket manufactured goods climbed at an annualized rate of 22.3 percent in the third quarter.Economist are suggesting that the jump is due Cash for Clunkers program and that the housing market growth due to housing purchase incentives of $8000 tax credit for first-time home buyers and unfrozen markets.Spending on housing projects jumped at an annualized pace of 23.4 percent
The positive GDP report is another sign that the economy is pulling out of the deep recession that started in December 2007.
Yeah that 3.5% IS FRICKEN GREAT!!!!! I went to taco bell to buy a burrito only to find out the price of them had risen 10% and the amount of food in them dropped 14%!!!! WE ARE DOING (AS KJ MIGHT SAY) FUGHIN GREAT!!!!!!!!!!!!!!!!!!!!!!!! Written by
on 11/2/2009
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They deserve a Nobel for propaganda or for developing a new flavor of Kool Aid. Written by CN
on 10/31/2009
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Breaking news, based on Obama's jobs created by stimulus effort, he is now expected to win a Nobel prize in theoretical mathematics. Written by
on 10/31/2009
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We were talking about how the stimulus has - while devaling the dollar by 14% - enabled the economy to grow by 3.5%. If we keep up this pace of "progress" we will soon have an economy that rivals Zimbabwe. Written by kpf
on 10/31/2009
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I have enjoyed this personal banter and love fest...what were we talking about? Written by Cn
on 10/31/2009
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Oh KJ, you must have liked it... Are you a Stephen King fan by any chance? Now drop it, you got called on the topic and that's all there is to it. And the whole time you failed to tell us how there was a 3.5% gain with regards to the 100% loss someone else suffered... Now quit snorting the powdered sugar on your binyays or wutever it iz u calz them..... Kp, I enjoy bouncing ideas or considerations off the wall with you... I too do not want to see the standard of living lowered for Americans... It is possible to lower many abstract costs though, and there are a great deal of tools out there already in place that can help this... You should see a neat little program the Department of Agriculture has, it helps farmers build houses for migrant workers to stay in... A lot of money goes out to this.. Take the bums off welfare, get them a bus ticket and instant job with temporary housing! We could talk forever on this topic KP, but we have the bullsh^t spin doctors on CNN, and blah-blah-blah that keep things from happening along with our crappy politicians... It is comforting to know we can spend $500,000.00 per soldier to be deployed overseas... I know of several mercenaries that can be had for 60K... And if you go shopping, you can even get them for $5,000.00... Just a little more than the cost of an M-16 with a grenade launcher attachment...... When dealing with Guerrilla warfare, it is always best to get guerrillas, and not some circus chimpanzee to do the job. Written by
on 10/31/2009
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"Love your little '(and, I have a weapon)' appendage"... Smitty, you wrote a lengthy sick scenario about my walking through the Quarter with my husband, and how I would stand by idly as my mate was attacked (you went into bloody detail)--- I replied that I had a weapon (I wanted to say a lot more-- like-- You sick fugh!)... Am I concerned for you personally?... uh-- no... Am I concerned that you will crash this whole web site again-- YES. Written by KJ
on 10/31/2009
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I hear you Smitty. Although I am "mostly" for complete free market capitalism - and realize there are many ways to "do" tariffs incorrectly - we should protect our American industries. I do not think we should have a lower standard of living to allow the rest of the world to have an increased standard of living. BTW, if that means we pollute more than the rest of the world - tough s#it. America first, America last. We do more than enough to help out the rest of the world - including spilling our blood - too much IMHO. Written by kpf
on 10/31/2009
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And of course there are scores of other reasons, but I don't want to be the priest, or the congressman, or any of that, I just want to do what I am good at in my little area of understanding, y'all come up with your solutions.... You know something, It appears to me that Bobby Jindal is one helluvacheapskate sonuvabich... And the rest of our legislative body is too.... What a bunch of festering useless pussing boils on sphincter they appear to be..... Enjoy your new reality folks, you worked hard for it, you deserve it...... Oh, and believe the recession is over and happy days are right around the corner while you are at it... what a bunch of clueless morons. Written by STRONGCONCRETE
on 10/30/2009
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Speak the truth you sound sort of like one of those CNN groupie gals that look pretty for the camera and are clueless gossipers… “…………….everyone needs to understand well that consumption by the broad mass of middle class consumers is what pulls the economy.””””?!?!?????? Consumption does not pull the economy, consumption burns money…… And when you have no more money to throw on the bonfire, guess what? You don’t get to have a BBQ… Sort of like those clueless gals, you start off with a brief flicker of cogneti ve reasoning and then, well, the train done left the station and you are still standing on the platform with your ticket in hand….. For example, you go on to say…. . - - - what's happened is that with this country going well into the post-industrial phase ……………….- - - - NO FOLLOW THROUGH THERE STT………………….. You were about to hit the nail on the head and then whoops!!!! You took your eye off the mark and banged your thumb!!!! It has nothing to do with rich folks getting richer, what it has to do with is middle class folks, wanting to get the lowest price, bought foreign goods instead of homegrown goods, and guess what, they were cutting their hands off to satisfy their pocket books.. Manufacturing shifted overseas, and then our politicians and foreign policy makers started favoritising flavor flav style other countries as the premier foreign trade partner status…. Jobs disappeared, folks couldn’t afford homes, had to rent, moving didn’t help because wherever they moved to, they took the jobs that locals could fill and on and on and on it went…. We need rich people in America so that those rich people can create industry and jobs.. We have insurance hobbling us, DEQ, EPA, DOT, HUD, Dept of Agriculture, the State Department, and on and on and on…. We got rid of the jobs!!!!!!!! We got rid of the industry!!!! We quit manufacturing!!!! Everyone thought they were going to sit in front of a computer, punch some buttons and earn 100K a year!!! Surprise – Surprise – Surprise!!!!!!! And some folks figured they would sit at a desk so people could look at them while they make 300K a year, you know, like the CNN groupie gals…… It is crazy……… Want to know something even crazier? The dumbing down of America has been going on for over 3 decades now….. Right now, across the nation anywhere from 100,000 to 200,000 books in our public libraries are being removed and for all practical matters, burned on a daily basis….. Day in, Day out.. Unbelievable… But then of course I suppose if you are in the teaching class, and you don’t want nothing taught or give anyone the opportunity to discover anything but your view points this makes perfect sense… I think the 3rd Reich had that tactic down pat…. Just yesterday I watched a hardback edition of Gray’s Anatomy get discarded… Mint condition… Probably a 2 or 300 dollar book.. Oh no, we wouldn’t want the common person to be able to reference anything like that, they might get too smart….. This is happening in just about every library in America… This is insanity… We not only dismantle our industry, but we throw away the books that showed us what we had and how to do it….. You all are screwed… Enjoy your new reality, you worked hard for it, you deserve it……………………… Your insipid attitudes are quite trying….. God Bless America, God Bless Louisiana, we are going to need it…. Written by
on 10/30/2009
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The private sector has to pay for government. The cost of government can be expressed as a percentage of the private sector economy. How can the private sector expand when it has a downward trend while paying for ever-expanding government? Instead of government "tightening its belt" as those in the private sector must do it instead resorts to inflation (expands the money supply). This is supposedly done to "increase liquidity" but it also allows government to fund any and all programs without having to resort to being responsible and cut unnecessary waste. This devalues ALL of the people's money: payroll, savings, etc. and hits hardest those on fixed incomes. Thinking of "wasteful spending" in this way (devaluing the people's money) what federal outlays are so sacrosanct that they cannot be cut? Would this include subsidies for businesses that cause prices to be artificially high (straining consumer's wallets even more)? Money sent overseas in direct payments or loans? Money spent on overseas troop deployments and military action? The private sector can handle a short-term deflationary period, it is government that cannot; and so they resort to inflation to fund themselves at the people's expense. Deficit spending is not only done to provide Keynesian liquidity for the benefit of the private sector economy, it is also a means to allow government to grow unchecked by any responsible restraint by eliminating unnecessary expendatures. Written by kpf
on 10/30/2009
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Consumers are clearly still very uneasy and everyone needs to understand well that consumption by the broad mass of middle class consumers is what pulls the economy. Without that, businesses will not be spurred to invest in property, plant and equipment and in people. Without that there will be low or no economic growth. The basic problem is that over the past two or three decades or so what's happened is that with this country going well into the post-industrial phase the working class is seeing more and more of a squeeze on their pocketbooks as their earnings have stagnated. Phenomena such as the dot-com bubble and the real estate bubble helped to mask that effect but those have run their course. To truly get the economy healed we've got to find some way to ease the strain on the working classes and also let them get to receive their "piece of the pie" of economic growth that they have not been receiving as data unquestionably indicate that such benefits of what economic growth that there has been have gone disproportionately over the past few decades to the few at the top of the income pyramid. What's troublesome is how economic reactionary conservatives would want to do just the opposite, i.e. increase the strain on the pocketbooks of the working classes, an action that would probably plunge the country into long-term economic depression. Written by speak the truth
on 10/30/2009
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But most interesting of all where your glass could be concerned KJ, it all depends on where it is.... Were it to be situated in a kiln I suppose it would be safe to say that it is neither half empty nor half full but rather it is subject to being in a state of flux, or fluctuation.... Written by
on 10/30/2009
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Often? What constitutes 'often'? It appears you have a deep seated neurosis of some kind there KJ.... And excuse me for being politically correct when implying you had some kind of "concern" when actually It was merely an attempt to calm any hysteria or paranoid tendencies you may or may not have.... Love your little "(and, I have a weapon)" appendage... I mean after all, you did bring up the paradigms of phsycology when you went along the old glass half empty, or glass half full routine.... Actually the glass is never 'half empty, nor is it ever 'half full' it is merely 'available'..... On a two dimensional plane..... Now if a person wants escape two dimensional thinking and take it to the third dimension, there in inspiration, creativity, and faith can start to be realized.... That is one of the ways in which man discovered the stars even though they were already in existence......
Written by
on 10/30/2009
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"I don't gamble, no visits to the 'casina' for me. "...........Kill-joy:) Written by KJ
on 10/30/2009
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WB says, "I hope this answers your concerns".... Actually, Smitty, I just wanted you to verify that the earlier comment was truly "You"- (and not Mortimer, the other "Written-by").... I'm not concerned for your well-being, Smitty-- I know you're smart and witty and "weird".... but, as internet-blogs go--- This is all in a day's fun............... My "husband," since you choose to bring him up often, does not have an interest in such foolishness, (I show him the hi-lights)….but- he applauds my hobby and is glad I'm not out spending his money.. So.. la di da. Written by KJ
on 10/30/2009
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KJ, I would hope that you sent an email out of concern and not as some kind of brick in the wall.... I am fine... Many people have opinions that are not generally valid.... It would appear I may be a text book case, unfortunately the facts are my I.Q. probably runs circles around even some of the supposed 'brightest and best'.. So much for profiling and case studies I would suppose. My one fatal flaw is I perhaps really want to believe in the good of my fellow man, so therefore I am perhaps gullible or naive to a certain extent at times. Remember KJ, life is full of metaphors, and all the world is a stage and many of those actors you encounter use props and scripts of their choosing so that the audience will enjoy the show and tell their friends about it so that more tickets can be sold to the event... Remember, a one in 450,000 chance is a long shot and considered to be for all practical reasoning’s next to the incredibly improbable and a highly unlikely wager to stake a bet on, so enjoy your strolls on Bourbon Street, you are just as secure there, if not more than the rest of the folks walking up and down the boulevard. I hope this answers your concerns... Should you have anything else you would like to write me about I am always happy to receive email from friends... God Bless you, and God Bless your husband.... Smitty Written by
on 10/30/2009
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It seems as though both George W. Bush and Barak H. Obama share the belief that money should be taken from the middle and lower class to be given to Wall Street barons - under the guise of "necessary" bailouts of institutions "too big to fail" - so these tycoons can keep their enterprises afloat and maintain their extravagant lifestyles. In that regard Barak Obama is certainly not a "socialist" as he is moving earnings from the lower classes to the upper class. Just another lackey for big banking and the multinational corporate interests I guess. I don't know much about Hoover (did he invent the vacuum?) or conservatism vs. liberalism, but I would like to see this country 1) bring all the troops home, 2) stop spending the taxpayer's earnings on foreign governments and banks, 3) stop giving the taxpayers' earnings to businesses by either direct payment or subsidies, 4) legalize drugs as the "war on Drugs" is an abject failure and is responsible for the majority of homicides (but I guess "some people" are making a profit on it, and of course kickback some of this profit to politicians), 5) legalize same-sex marriage - generally, what I'd like to see is government be as small as possible, quit propping up those who are already wealthy and basically get the f^&* off our backs. I don't know if that earns me the label of "liberal" or "conservative" - but these labels are meaningless anyway. There are two types of people politically that I see: individuals who form opinions on each separate issue and those who follow the (either) party line. As far as "investor/owner class" - wtf is that comment referring to? "Tycoons" or "Joe and Jane Doe" who choose to own a home instead of renting? People who invest their earnings for retirement instead of pissing it away on gambling or drugs? Just what are you referring to by investor/owner class? Anyone who owns anything or doesn’t spend every dime they earn? Written by kpf
on 10/30/2009
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Oh, yeah, lots of folks still can't get over losing their votes in that election 77 years ago. Lots of 100 year old barons on Wall Street. You babble-speaking loon. Written by
on 10/30/2009
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True, there won't be a real recovery until the benefits of whatever growth that there is accrue to everyone who's been working hard and not so disproportionately to the few and the barons of Wall Street et al., as has been the case for the past couple of decades, but unemployment and job creation and the economic security and well-being of the working classes are and have long been the least of conservatives' concerns as long as business profits remain strong for the owner/investor class. We know that some of these conservatives are still lamenting that Herbert Hoover lost in 1932. Written by speak the truth
on 10/30/2009
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I think the Democrats will lose 20 to 40 seats in the House, and probably keep their majority. I don't gamble, no visits to the "casina" for me. I do think disgust with both parties may work to the Democrats advantage the same way Nader's candidacy worked to the Republicans advantage in 2000. Stocks have rebounded somewhat; however with the dollar losing its value vis-à-vis foreign currencies, many foreign investors are finding our stocks c bargain. With a 14% devaluation vs. several foreign currencies, this means a stock that was worth $1000 before the crash (and deficit spending) that now is "back to" $1000 ("face value") is actually only worth $860. Pensions and savings have also been devalued similarly. Written by kpf ... but, keep that sunny outlook
on 10/30/2009
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Smitty, check your email... and, Mortimer, stfu. Written by KjunLady
on 10/29/2009
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Kp, Dawlin, remember last year when we were all crying, "Our retirement nest egg is gone.... The market has crashed.".. Guess what?... IRA's are almost back to where they were-- without doing a thing..... (That's my ultimate barometer.) Now, about that bet:::: I say Dems will keep a majority in the House and the Senate…. And, you say they won’t? Written by KJ
on 10/29/2009
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KJ, KJ, KJ, I see a glass with filled halfway as either "half full" or "half empty" - as they are one and the same thing. What is significant is why we have "good" economic indicators. Many companies are showing increased profits, not because of a rise in sales but rather due to layoffs. That is not "sustainable" - it is a temporary uptick. Likewise although we ARE seeing "economic growth" due to the "cash for clunkers" and the $8K credit for first time homebuyers, these too are temporary gimmicks that looks good for a short term, but do not actually create more jobs long term and in fact have negative long term consequences (added debt, added annual interest payments on the debt, devaluation of the dollar) - again, not a true sustainable uptick in the economy. Good economic news will be when the government does not have to resort to such inflationary means to prop up the economy, when the Fed can raise interest rates and when unemployment drops down below 7 or 8 percent. None of this is anywhere in sight. Even with a record setting 1.4 trillion dollar deficit we have an unemployment rate that is the highest in 26 years, neither of these economic indicators are anything to be "happy" about. Not "doom and gloom" - just (or so one would think) obvious facts. Written by kpf
on 10/29/2009
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And President Obama does have a couple of things in the wings that have great potential, but they lack one thing, they really do not harness the abilities of All of America and all Americans in the mix.... Written by
on 10/29/2009
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DQ, you are another disillusioned person.... As long as there is the great 'American Giveaway' that illusion might continue to be propped up in isolated living rooms across the nation as folks stare blank eyed at the T.V. screen while eating their microwave popcorn and drinking their diet Cokes.... Mmmm,,,,, finger lickin' good!!!!! Now I hope President Obama and the Congress is going to be able to accomplish some really good and meaningful things... But so far? Well DQ, let me give you a metaphor, We are going down faster than a barrel full of monkeys at Niagara falls....... You will see in less than a year... And the GOP? Yes, I have the same concerns as you DQ, I wonder what or who in the GOP is fit to lead also..... But I guess probably I have come to the understanding that there has to be a better balance of power.... This one fulcrum pivotal act we are on see-saw style is obsolete..... We truly need reasonable recourse to the law....... We need true justice.... We don't need more laws, just more opportunity....... We need to re enable America.... I am tired of the little poster boy programs and circus spectacles being presented to distract us all the time.. Written by
on 10/29/2009
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Sick Puppy???? KJ, it is called 'tough love'.... Can't talk nice to folks, can't just let the case be known because then you get a bunch of double talk and bovine scatology that accomplishes nothing... And the only thing that needed to be accomplished was the education of your ignorant arse where the 3.5% is concerned..... Facts are you just learned what the facts are. They were graphic, the metaphores were in your face, and you clearly understand them and what the message was.... And as far as your weapon goes, unless it is nuclear, you haven't a snowball's chance in hell... And that is what our opponents have, and what other opponents want to possess.... So quit snorting the powedered sugar on your bengiets and get real.... Or are you just going to be a miserable haggerdly individual that argues a thing to death until it is just too late to get anything done? Oh, and KJ, I does luv's ya, I just has ta be a gentlemens and keeps yas at ahms distance.... You sure you aren't employed in the Jindal administration? Oh wait, you are a Landreyewwwwwwww supporter..... That's another disillusioned idiot that appears to be dumber than a box of rocks.... And I luv's her too...... It is time for Americans to get into the rebound and not be complacent with rah-rah public relations propoganda aired by dizzy broads on CNN.... Written by
on 10/29/2009
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The stimulus is working despite GOP claims to the contrary. Written by David Quidd
on 10/29/2009
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Smitty, you are one sick puppy. (and, I have a weapon) Written by KjunLady
on 10/29/2009
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Kp, I understand the money printing pyramid problem…. But we have no choice… And the facts of the matters are that higher taxes in lieu of increased production and export is the reality not considering the already tremendous amount of hard dollar currency that is currently sitting in foreign coffers… But instead of throwing good money after bad, perhaps we can throw bad money after good….. Yes, we do need to print more money here in the United States, but its circulation must be constricted…. Without cash circulation it is the poor, and the middle class that suffer….. And yes taxes need to be raised, that way this ‘excess’ paper that is floating in the domestic sector can be hauled in and shredded at some point in time… preferably on a percentage basis with regards to short term and long term schedules…. Preemptive health care starts with a preemptive strike or plan… I remember when Snickers finally won the argument that it was a “Snack Food” instead of a candy bar so that folks with food stamps could buy them….. O.K. reel that stupid type of scenario in…. And I hate to say it, but I don’t give a sh^t because a pack of smokes is costing me almost 5 bucks now (I only smoke my preferred brand, and if it gives me cancer or whatever, oh well, that’s my business, and a 6 pak costs me almost 7 bucks, again I only drink my preferred brand and I like to get a beer buzz to break the boredom of the day to day bullsh^t all the conscientious rooty pooties that aren’t really doing anything except screwing things up can kiss my arse if they think I am going to give up beer) and the point I am making is this; A lot of it has to do with taxes… The dollars need to be available for small business entities to utilize, and what is to be taxed should be products that originate in foreign countries… Specifically to start off in the foot ware/textiles section, pots and pans, electric kitchen appliances, video games/electronics, heavy equipment and machinery, rebuilt/refurbished automobile parts, aircraft parts, steel, ……. And produce from foreign countries… These taxes can be calculated on a state by state basis, segregated from the receipts and forwarded to the U.S. Treasury… In other words, empower American consumers to empower theirselves….. You want to buy yen, euros, rupees, yuan, go ahead, and pay a tax on it while you are doing it……. This does not violate interstate commerce laws, this does not violate NAFTA treaties because each state has the sovereign right to levy its own tax base and milage. When the printed money has been collected and shredded it should have had a multi-level effect on domestic production, unemployment, and with continued use of this method, health care problems and social security problems can be self fixing as a result of empowering the American consumer, and American concerns…. Written by
on 10/29/2009
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Ehhh, fruedian slip So “tell my Kp, where was the 3.5% gain in anything there??? (Althought I did see someone get away with 100%)” was supposed to read “So tell me KJ, So tell my Kp, where was the 3.5% gain in anything there??? (Althought I did see someone get away with 100%)…….. I guess my mind was already thinking about a way, that I considered as being a f_ked up thing to have to resort to, but a plan non the less, and I know Kp is going to be pretty dayammmmm pissed when I put it down, I am going to try to figure out how to write it…. Oh, and give your man a kiss their KJ, I am sure the black eyes and missing teeth are still a little painful… 3.50 isn’t enough for a beer on Bourbon Street and I am sure you had to kick in too so he could get some pain relief….. Oh wait a minute, that’s what the health care is supposed to be used to cover, thugs maiming innocent people and clogging up the emergency room with their non-health related issues…… (I mean what the hell, people have two eyes, it doesn’t matter if they lose one, and who needs all 32 teeth, unless of course they only have 28 because they have no wisdom teeth to chew with)……… Written by
on 10/29/2009
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------“your glass is always half-empty??” KJ, you are amusing as usual… Picture this, you are strolling down Bourbon Street one fine Saturday night with your man…. He has a crisp 100 dollar bill in his wallet and he is a lathered up about spending it on you…. All of a sudden someone jumps out from an alley, kicks your man in the balls making him drop to his knees…… The assailant then proceeds to kick your man in the face blackening his eyes and busting his teeth out in process while at the same time looking you in the eye and saying that he is going to rape you if you say a word or scream…. You stand there numbly watching the attack finally end with the assailant reaching into ‘your man’s’ back pocket, ripping the wallet out of place, pluck the 100 dollar bill from the fold, drop the wallet and run…. Dazed ‘your man’ painfully rises to his feet…. A bystander runs up and says “Oh my Gawd!!! That was brutal!!!!, I feel so sorry for you and there was nothing I could do to help you!” And then the onlooker reaches into his pocket and pulls out 3 bucks and 2 quarters and says “This is the best I can do for you, I got 3.50, go get yourself a beer and shake it off”……. So tell my Kp, where was the 3.5% gain in anything there??? (Althought I did see someone get away with 100%) Written by
on 10/29/2009
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LOL... poor Woe-is-Me, KPF. He says, "Look for the market to start dropping soon - along with the dollar's decline"... Uh yeah... and then the market will go back up-- and then down-- and then up a little bit, like a graph. KPF-- your glass is always half-empty. Acknowledge the good, why donchya?.. It's a positive indicator... It's relieving news-- and it's an accumulation of good market reports... Jobs should follow (not fast enough, I know), and as the economy climbs back-- Obama and the Democrats will get credit-- and they'll keep their political seats. (How much did we bet on 2010?... How 'bout admission to R&B for two cpls?) Written by KJ
on 10/29/2009
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May I respectively disagree. If the economy is growing due to sales that is artificially created due to government's inflationary dollar devaluing unsustainable schemes .... well .. you get my drift. Economic growth that is nothing but government spending is not growth at all, it is merely more burden on the private sector economy. Look for the market to start dropping soon - along with the dollar's decline. "Happy Days are <not> here again" - unfortunately. Written by kpf
on 10/29/2009
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