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Old 11-07-2002, 12:41 AM   #16
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In my opinion, I'd put some serious brakes on this gloom and doom senerio. There is no way you can compare the 1930s to 2000s. In addition, the amount of money that an average person in this country makes today far exceeds what people made back in the 1920s after adjusting for inflation. Just look the number of gadgets and equipment that the average person buys today, but did not back in the 1920s. Today we have only 5.7% unemployment compared to 25% unemployment in the early 1930s. In fact, unemployment right now is lower than it was in 1995! In addition, the natural rate of unemployment according to most economist is supposed to be 6%. Of course that was the theory before the late 90s boom in the economy. Unemployment rising from 4% to 5.7% in 2 years is nothing to get excited about.

The USA is #6 in standard of living according to the United Nations human development report. Thats out of 183 nations. In addition GDP continues to grow and there was only one quarter of negative GDP growth. For it to be officially a recession, you have to have two consecutive quarters of negative GDP growth. GDP growth for 2002 is already projected to be 3%. While not as healthy as the 5% and 6% figures of the late 90s, it is healthy. Unemployment increases for up to 1 year after a recession or economic down turn has ended.

The economy is starting to grow slowly again and by 2004 could be in good shape. If not, it will continue to muddle through. Aside from the 5 countries that are ahead of the USA in the Human Development report, no one in the history of the planet has ever had it as good as we do in terms of overall standard of living. This just shows that Capitalism, (regulated to prevent monopoly which destroys competition and pushes things towards Soviet Communism), is a shining success and the model to continue to follow.

The Consumers are out there and they have plenty of money to spend. Elevation Tour by U2 was this countries 2nd highest grossing tour in history. Consumers in the USA continue to buy over 1 Trillion dollars of goods and services every year from overseas helping strengthen the economy of many countries overseas, which in turn helps US exports to those countries.

I remember in 1988-1992 where it was forcast that Japan would overtake the USA and we would be poor and suffering by the year 2000. This was based on far worse economic data for the USA back then than we have today.

Democracy and Capitalism will continue to spread through out the planet in the 21st century with the engine for this spread being technology and international trade.
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Old 11-07-2002, 02:17 AM   #17
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if the economy doesnt turn around in the next 2 years, will it be the republican's fault? or is it the fake prosperity of the Clinton era that's to blame?

maybe we need good ole fashioned war bonds to jumpstart the economy
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Old 11-07-2002, 06:41 AM   #18
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Quote:
Originally posted by melon


Invest in Boston real estate. Where else can you buy a crappy house in Roxbury for $700,000?

Melon


Melon, you seem down ........

I did not say in MA.

However, I do know of people who have bought homes here recently and they have found that their property value went up 40-50,000 in less than four months.

Myself....I am looking Maine and Vermont......



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Old 11-07-2002, 07:30 AM   #19
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Quote:
Originally posted by Dreadsox
If you have money.....buy real estate....In this economy it is pretty sound.
If you can, buy real estate in Rio de Janeiro. Still very lowdown prices, will go up a lot in the next years, you can get an apartment at Copacabana very cheap at the moment.
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Old 11-07-2002, 07:57 AM   #20
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Quote:
Originally posted by Dreadsox
I did not say in MA.
I was joking about the Boston real estate.

But you're right. When the stock market is crap, real estate is where you're supposed to invest.

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Old 11-07-2002, 07:58 AM   #21
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Quote:
Originally posted by STING2
There is no way you can compare the 1930s to 2000s.
Yes. We have more credit cards now.

Melon
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Old 11-07-2002, 11:11 AM   #22
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Blue-chip stocks have plenty of standards of measurement to indicate the health of a company. Internet stocks never held a profit, nor did they have any standards to measure their actual worth.

Yes...they should have seen this coming a mile away.

Melon
melon despite the fact that i agree with you 90% of the time, sometimes your arrogance is nothing short of mind-boggling.
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Old 11-07-2002, 11:28 AM   #23
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Originally posted by melon


Right.

This "war on terror" could easily last 50 years. And I challenge you to say that first sentence if you were a member of the unemployed in America.

Melon
Buckle up, its going to be a long ride.

Furturmore, if I were broke/unemployed and not working I would rather live in a safe world..
Whats the point in having money if your world is not safe and secure?

Listen to Screaming F., your arrogance is a little much today Melon..

Peace
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Old 11-07-2002, 12:17 PM   #24
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I apologize if I have been arrogant. Please accept my sincerest apology.

Melon
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Old 11-07-2002, 12:55 PM   #25
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I don't think Melon was arrogant and haven't really seen the world get any safer since the start of this 'War on Terrorism'.
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Old 11-07-2002, 06:17 PM   #26
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Dr. Teeth,

So you think we were safer prior to 9/11 then we are today?
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Old 11-07-2002, 07:10 PM   #27
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Melon,

You have a right to your opinions. I don't find them arrogant.

Maybe others should apologize to you for name calling/ or labeling.




That said, here are some of my thoughts, make of them what you will.

Before 9-11 the US was perceived as safe. Perception is reality.

I think much of the US policy is contributing to making it less safe.

Taking Iraqi oil. Using drone planes to blow up supposed Talaban terrorists can lead to what we call acts of terror.
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Old 11-07-2002, 07:38 PM   #28
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Melon,

You have a right to your opinions. I don't find them arrogant.

Maybe others should apologize to you for name calling/ or labeling.



I agree Melon....when are we hooking up for a pint!!!!!
We may be on opposite sides, but I appreciate how much you make me think.


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Old 11-07-2002, 08:21 PM   #29
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Melon is...

sardonic?
yes!

sarcastic?
sometimes!


thought provoking?
always!

arrogant?
no!
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Old 11-07-2002, 09:48 PM   #30
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Quote:
Originally posted by diamond

Buckle up, its going to be a long ride.

Furturmore, if I were broke/unemployed and not working I would rather live in a safe world..
Whats the point in having money if your world is not safe and secure?

Listen to Screaming F., your arrogance is a little much today Melon..

Peace
diamond


I'm one of those unemployed, one of many that I know. While I'm not married with children, or with any children at all, and living at home with a kickass mother who's helping me out, it has been very tight and shitty this year having no work.

I can only imagine those who have it much worse off than I, and while I'm sure that living in a safe world is a priority for them as well as it is for me, living on the street probably sounds a lot scarier to them at the moment than some terrorist incident that "may" occur at so and so date. Also, unless we're talking about the Stone Ages, when has this world EVER been safe?

Just my thoughts.
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