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Thread: US unemployment rate reaches 7.6%

  1. #11
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Edify_Always_In_All_Ways View Post
    The latest unemployment data isn't breaking news? This doesn't seem like trolling to me at all.
    The statement of the US unemployment rate is not trolling.

    Its also not news to anyone that's paid attention to the news for the last year. Everyone knew there was a slowdown coming, and everyone knows when that happens, the unemployment rate goes up.

    What a surprise.

    The rest of the post? Trolling.

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    Re: US unemployment rate reaches 7.6%

    Its also interesting that it takes a recession like this to drop the US unemployment rate to that which is normal for Europe.

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    Re: US unemployment rate reaches 7.6%

    Take a look at the U6 unemployment statistics, which is more accurate because it includes those who have run out of unemployment benefits, but still don't have a job.
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Ikari View Post
    I wouldn't be so smug in your assessment of the UK economy. The US is gonna suffer pretty badly here for a bit, but we are the precursor to Europe. We're all intertwined with our economies. Europe and the US are dependent upon each other and a huge market failure in one will induce large market failures in the other. The UK banking system in fact had already started to feel affects of the US collapse.
    Unrealistic assessment.. The UK economy is imploding and much worse of than the US. Europe's recession is due to the depression in the US and some irresponsible banking. But not due to irresponsible banking, irresponsible financial gambling, irresponsible governance and so on, at the same level as the US and especially the UK.. In the long term, the US can carry the burden they have put on themselves, most likely, while the UK cannot.
    My prediction for the UK economy is that Poland have caught up to them within 5 years as a bigger economy. The UK is a symbol of what we did wrong in the 20th century.

    Quote Originally Posted by Ikari View Post
    As for our unemployment, I'm not going to be surprised to see it breach 10%. Which is another reason why you're all gonna feel the pinch too. US consumerism was driving global economies. You relied on us to buy crap, but we're not going to be buying crap right now; not for awhile. All markets, including the EU, are going to go through a bit of a rough period. Nothing to the extend of the Great Depression, but still it's not gonna be the best times ever.
    Crap is what China produces, Europe produce high quality stuff that will always be in demand. But yes, the downturn has affected us, and other economies collapses is the main reason we are seeing a setback. Industrial new orders in Europe is already down to 2003 levels, and within a year will be at the same level as they were in 2001, if the situation do not turn around.
    Spain and the UK is by far worst hit, followed by Ireland. Best of are less speculative, more stable and solid economies like France who arent even in recession officially yet.
    Germany is faring pretty well considering its an export driven economy. Their unemployment rate at 7.1% up from 7.0% a month ago is still 0.9% lower than it was 1 year ago, but the economy will shrink in 2009.
    Ireland is a small economy which will recover, Spain will recover when all the rest recover, because its dependent on good times elsewhere, but the UK is unlikely to recover any time soon, if they do not start paying down their external 10 trillion $ debt, which is just 2 trillion behind the US. Its not a comfort either than average savings in the UK is 1% of GDP, while its above 12% on average in Europe. So they have nothing to spend to make things better, and with credit drying in, implosion is inevitable, especially considering cheap unrealistic credit times are over.. Which the UK is also a master at, private credit card and home loans which are the highest in Europe, making housing prices in the UK unrealistic compared to quality.

    As I see it, the economic setback, is actually nothing but economic corrections on a global scale. In any such scenario, the UK is actually a very poor economy.
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Maximus Zeebra View Post
    Unrealistic assessment.. The UK economy is imploding and much worse of than the US. Europe's recession is due to the depression in the US....
    Wait? What did someone say? Oh yeah....

    The US sneezes, the rest of the world gets pneumonia.

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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Goobieman View Post
    The statement of the US unemployment rate is not trolling.

    Its also not news to anyone that's paid attention to the news for the last year. Everyone knew there was a slowdown coming, and everyone knows when that happens, the unemployment rate goes up.

    What a surprise.

    The rest of the post? Trolling.

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    No, I am just reporting on the news.. An analyzes compared with Europe which is a similar economy should be interesting to you people, at least the people who can handle reality, and doesnt call it anti American.

    You are a perfect example of why people call me anti-American.. I never said the EU rocks..
    Then again, I never complain when people like you go around saying stupid stuff about everyone else and good stuff about America.. I never call that anti-world or whatever.
    Last edited by Maximus Zeebra; 02-09-09 at 05:04 PM.
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by danarhea View Post
    Take a look at the U6 unemployment statistics, which is more accurate because it includes those who have run out of unemployment benefits, but still don't have a job.
    Where is that to be found?
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Maximus Zeebra View Post
    No, I am just reporting on the news..
    If that were the case, your OP would have ended with the link to the story.

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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Goobieman View Post
    If that were the case, your OP would have ended with the link to the story.

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    I did link in the OP.. Your blind US bias just blinds you on this issue.. No wonder no one reports bad news about the US anymore, just get unrealistic criticism from people like you.
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Maximus Zeebra View Post
    I did link in the OP.
    Please -- at least TRY to read what I said.

    If you were "just reporting the news" your OP would have ended with the link to the story. That you contined on with your blather -after- posting the link to the story indicates quite clearly that you were NOT "just reporting the news".

    Now, continue to tell us how badly the US sucks and how much better the EU is -- we KNOW you want to.

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