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Thread: Stocks pile on losses amid worries on economy

  1. #151
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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by AdamT View Post
    Yes, there is a reason. They didn't qualify for Chapter 11 without government assistance.
    I would have had far less of a problem with the government stating that they were "encouraging" this reorganization without turning accepted law on it's head.

  2. #152
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    Re: Stocks pile on losses amid worries on economy

    the monthly unemployment number is out: 9.1%

    117000 jobs created, 154k in the private sector, govt shedding (9th straight month) 37k

    but it's far, far worse

    CNBC: Beneath Surface Lie Ugly Truths

    1. the 117k doesn't keep up with population, we'd need at least twice that to get outta here anytime in our grandparents' lifetimes

    2. the labor pool is 63.9%, lowest in 27 years

    3. if the participation rate today were what it was in january of 2009, unemployment this morning would be 11.7

    4. there are actually 38000 net FEWER americans working in july than in june

    5. the fastest growth (14%) is in the "discouraged" group, those who've dropped out

    6. the average seeker has been looking 40.4 months, a new record, double the figure for january, 09

    7. there are 6.2 million americans out of work at least 6 months, 130% more than inauguration day

    8. underemployment is 16.1

    9. african american joblessness is 15.9, hispanic 11.3

    10. only 58% of working age americans today are employed

    fyi

  3. #153
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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by 1Perry View Post
    My response was concerning how we measure inflation. It wasn't a comment on one single item. How does the fact that we measure inflation in a different way today than we did in 1978 skew my understanding of inflation?
    If you had any understanding at all, you would not have made such a ridiculous statement. The goods basket of '78 is in no way comparable to the one today and has no business being mentioned given the context of the discussion.
    Last edited by Kushinator; 08-05-11 at 02:27 PM.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  4. #154
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    Re: Stocks pile on losses amid worries on economy

    today: Food stamp use rises to record 45.8 million - CNN

    Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture.

    The number of Americans using the government's Supplemental Nutrition Assistance Program (SNAP) -- more commonly referred to as food stamps -- shot to an all-time high of 45.8 million in May, the USDA reported. That's up 12% from a year ago, and 34% higher than two years ago.

    To qualify for food stamps, an individual's income can't exceed $1,174 a month or $14,088 a year -- an amount that is 130% of the national poverty level.

    The average food stamp benefit was $133.80 per person and $283.65 per household in May.

  5. #155
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    Re: Stocks pile on losses amid worries on economy

    The ugly truths aren't quite as ugly as they may seem. A lot of people who have technically left the work force are people who have returned to school to seek training in areas with better employment prospects. Others have taken early retirement. Which is not to say that the situation isn't bad....

  6. #156
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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by Goldenboy219 View Post
    If you had any understanding at all, you would not have made such a ridiculous statement. The goods basket of '78 is in no way comparable to the one today and has no business being mentioned given the context of the discussion.
    Please then, educate me.

  7. #157
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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by AdamT View Post
    The ugly truths aren't quite as ugly as they may seem.
    link?

    LOL!

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    Re: Stocks pile on losses amid worries on economy

    today: American incomes plummet by 15 percent in 2009 | The Lookout - Yahoo! News

    average income fell 3500 dollars per year, according to "tax data analyzed by reuters"

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  10. #160
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    Re: Stocks pile on losses amid worries on economy

    Well, Arianna Huffington says so it must be true.....pfft!


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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