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Old 10-08-2002, 07:28 PM   #21
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Here's the thing. The United States government's only real responsibility to the nation's economy is that it pretty much stays stable. Recessions and periods of growth are natural and to be expected. All anyone can really pin on any governmental figure or agency is a bigass depression, like the Great Depression (which doesn't count, since it was the Great Depression that resulted in the government's having a say in the economy). This means a few things:

1. Don't panic. Every time there's a recession, people panic and blame it on whoever's in charge of the country (and that person really has very very little to do with it).

2. There's a natural order to things, including economics. The ecomomy goes up and down, and it generally corrects itself.

3. It's not tanking. It'll all be ok.
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Old 10-08-2002, 07:38 PM   #22
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Melon,

Thank you for taking the time to write an excellent post.

I am afraid you are probably right, and with the current SEC chair nothing will be done. The White House just appointed a communications director for the FEC. The FEC is supposed to be independent? This smells bad, and so it goes.
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Old 10-08-2002, 11:20 PM   #23
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Thanks to all. I really wanted some analysis, and that's what we've got here. Keep it coming.



deep, who the hell is that in your avatar?
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Old 10-08-2002, 11:53 PM   #24
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he was having a bad day

Quote:
Originally posted by martha



deep, who the hell is that in your avatar?
Francis Albert Sinatra in 1938
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Old 10-09-2002, 10:21 AM   #25
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Ok, I'm going to disagree with some of you. Yes, the economy is not well. Yes, the dot com bubble burst and the STOCK MARKET [please note] is now correcting itself after the huge tech inflation.

BUT economic data is starting to show a slow, steady increase in teh economy for the most part. The uneployment rate is starting to decline again, the gross domestic product rate is increasing again and retail sales have increased. And new and existing home sales continue to be level -- if not increasing.

Also, a large weight on the STOCK MARKET [please note again] are the number of corrupt corporate executives that have been found out. In recent weeks though, several executives have been arrested and charged with crimes including the former CEO of Tyco and the CFO of Enron. As this continues, the STOCK MARKET should start to come back.

But please don't confuse the economy with the stock market. The market is on the negative side but the economy has been in a recession since March 2001 and indications from the Federal Reserve and data from several government and private organizations show that it is beginning to recover.

Unforunately, the last things to recover in a recession are jobs and the stock market and since most Americans own stocks and have jobs but can't define "GDP", they don't understand.
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Old 10-10-2002, 10:57 AM   #26
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I think ppl are finnally realizing that you shoudl prolly make sure a company is making money before you buy stock in it.

the corporate scandals and 9/11 gave ppl a real reason to feel insecure about their money int eh markets. I think that it was a natural contraction combined with these unfortunate events that caused this. Also...I have a feeling that ppl do not have faith in the free leader of the world cuurently as they had in the previous free leader of the world ...leading to part of this problem. However...it is in no way the free leader of the world's fault as this is mainly a natural contraction.
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