Washington (CNN) -- Economic experts may believe the recession is over, but try telling that to the public. Seventy-four percent of Americans believe the economy is still in a recession, according to a new CNN/Opinion Research Corporation poll. Only 25 percent think the downturn is over. One-third of Americans say the recession is serious, while another 29 percent characterize it as moderate. http://edition.cnn.com/2010/POLITICS/09/26/economy.poll/index.html?hpt=Sbin
They should survey traders. For 99% of traders, they are in a depression and have contributed to the newly unemployed.
Seventy-four percent of Americans : -------------------------------------- Interesting. 74% have yet to drink the coolaid. Small sample...but.....this could be great news for cleaning out the Socialist on the Hill in NOV. Propaganda machine is hard at work to make the Public believe the recession/depression is dead. Will be interesting how they spin the 400k plus for unemployment numbers on Friday.
The recession in manufacturing has gone on for 3 decades. Nobody gave a shit when it was a couple hundred thousand steel workers. Now that it's spread to other sectors, including white collar workers, and effects millions of people, it's a big deal. Welcome to what the blue collar worker has been dealing with for 30 years. Here's a survival tip for those entering the "new reality". Be loyal to no one but yourself. Stay nimble, always keeping an eye open and your ear to the ground for a better opportunity. Screw your employer before they screw you. Be self employed if at all possible. And most of all, if you see the lips moving on a political hack or corporate executive, they're lieing. Trust no one!!!!
unemployment 10% could last ten years. housing and financial sector won't come back for 10 years. too much money lost in that sector. 5% unemployment is normal unemployment or you have worker shortages. 90% are still employed. the trend is an aging population which means people are not retiring so fewer job openings before the average age of death was 75 so people retire at aage 60 or 65..and with medical advances people live as long as 89....ie and many old people would be dead by now if it wasn't for medical advances..the average age of death was 50 in the middle ages as before and older population don't spend as much and old people don't buy homes. or new cars as frequently or buy new clothes drop in demand for goods and services.
I think this is a pointless exercise. Ask the 'public' to define what a 'recession' is before you their opinion of whether or not we are in a recession. And...who care whether a bunch of economists determined whether we're in a recession or not? Obviously the economy blows. No one is going to be fooled into thinking everything is great because some economists told us we're no longer in a recession anyway. I don't think you can live in the US and help but notice that the economy sucks.
Agreed. Most people don't have a clue what a recession actually is. Most assume it means "shitty economy", which it doesn't. Everyone knows the economy is shit, so who cares if some economist technically declares it over or not?
Capt. SPOT ON! You'r correct as PENN felt the blow in the Steel industry in the early 60s. Your observation is obvious to very few however, in Congress. Before I decided to tap into the Global Market, rasing capital for Global Projects, I delt with only US private manufacture Owners. The stories they told me would turn your stomach. We are at about 30% of what we use to be in Manufacturing alone. The few that are left, more than half are building manufacturing plants overseas. Currently, Indonesia is a hot spot. Most the guys, when they spoke about China, Indonesia, they had a crackle in their voice. Many told me it turned their stomach to have to resort to off shore. Many fought in wars to defend this country, took their money and started with one machine. Grew their business and created american jobs. They took risk and the believed in America. Many are trying to hold on to the "Old" America, where Pro-business friends in DC would not try and squeez them to death, where Unions were somewhat decent to deal with, if needed. The Freeloaders, the Socialist, but most of all,...the AMERICAN PEOPLE have allowed one of the biggest and profitable assets to dwendel away...our Manufacturing base. The dream of making millions pushing paper for the last decade has now been discovered as a dream. Empire of "Dirt" is worth more than an Empire of "Paper". As an "Investment Banker" gone Rogue....dealing in Private Equity across the world now, I feel for those who can not tap into the Global Market. A manufacture, an employee, a business that wants to expand and not fall victom to the US Politcal body, the Freeloaders, the Socialist have no choice but to tap into the world market. And once they do and they see the revenue that comes from the WHOLE WORLD and not just a part, many will take the leap of faith and leave the US...all be it for business or for living. The only way to reverse the destruction caused by the Freeloaders, scumbags on WallStreet, Progressives, and CONGRESS is to hault business tax's on Manufactures, to fund a new error of manufacturing base instead of the bullshit Social programs, to retool for the future. However, my chips are all in for the Global Market Place and not on the US. I do not see us reversing the current policy even with the REPs in control of congress. They will only slow the process down.