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Signs Point To Deep Recession
Madistan.com ^ | November 20, 2008 | Neil Irwin

Posted on 11/22/2008 5:25:47 PM PST by Diana in Wisconsin

Edited on 11/22/2008 6:58:54 PM PST by Admin Moderator. [history]

Businesses cut prices at a record rate, and builders started fewer new homes last month than anytime on record, according to new government data, as the outlook for the economy continues to dim.

The data helped spur another terrible day for the stock market Wednesday, as did a projection of more hard times ahead by leaders of the Federal Reserve. A serious recession now appears all but assured.


(Excerpt) Read more at madison.com ...


TOPICS: Business/Economy; Government
KEYWORDS: 111th; bho2008; economy
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(Sandwich Board says. "Almost Homeless.")
1 posted on 11/22/2008 5:25:48 PM PST by Diana in Wisconsin
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To: Diana in Wisconsin
"Signs point to deep recession"

Boy do they!


2 posted on 11/22/2008 5:27:12 PM PST by BenLurkin
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To: Diana in Wisconsin

Hate to say it, but we might be needing something like the Civilian Conservation Corps soon.

Way better to have something like that going than have a young mom or whatever getting murdered when she leaves the store with her two bags of groceries.

And the country could use alot of infrastructure improvements.


3 posted on 11/22/2008 5:30:07 PM PST by djf (The harsh reality of life is that reality is harsh.)
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To: Diana in Wisconsin

Obama and his Obamacorns are going to make it “deeper” than it needs to be.


4 posted on 11/22/2008 5:30:28 PM PST by FlingWingFlyer (I voted for McCain/Palin so I can look my grandchildren in the eyes when I tell them I'm sorry.)
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To: djf

Back in the day those CCC camps were commanded by an Army captain and one or two NCO’s. The CCC workers pretty much ran things with minimal supervision. Do you think today’s 18-19-20 year olds could do that?


5 posted on 11/22/2008 5:33:50 PM PST by kms61
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To: djf

Yeah....Obies “home boys” are really going to LOOOOVVEEE working for the CCC....uh huh....


6 posted on 11/22/2008 5:34:51 PM PST by goodnesswins (CONSERVATIVES....saving America's A** whether you like it or not!)
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To: djf

Don’t be thinking like a Dem. That’s what Obama proposed this AM on that radio address.


7 posted on 11/22/2008 5:34:57 PM PST by worst-case scenario (Striving to reach the light)
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To: djf

You are nuttier than a fruitcake.


8 posted on 11/22/2008 5:39:24 PM PST by bill1952 (McCain and the GOP were worthless)
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To: FlingWingFlyer

“Obama and his Obamacorns are going to make it “deeper” than it needs to be.”

I agree.


9 posted on 11/22/2008 5:39:28 PM PST by Diana in Wisconsin ('Taking the moderate path of appeasement leads to abysmal defeat.' - Rush on 11/05/08)
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To: djf
Hate to say it, but we might be needing something like the Civilian Conservation Corps soon. Way better to have something like that going than have a young mom or whatever getting murdered when she leaves the store with her two bags of groceries. And the country could use alot of infrastructure improvements.


10 posted on 11/22/2008 5:39:30 PM PST by DCPatriot ("It aint what you don't know that kills you. It's what you know that aint so" Theodore Sturgeon))
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To: kms61

I think the motivated ones could. And when the SHTF, it wouldn’t surprise me that some of the I-Pod crowd will wake up and smell the coffee.

There is always a sort of generational dynamic going on where the yutes think the elders are washed up and the elders thing the younguns are worthless.

But in fact it’s probably percentage wise about the same for each generation.


11 posted on 11/22/2008 5:39:57 PM PST by djf (The harsh reality of life is that reality is harsh.)
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To: djf

Nope, not a chance the CCC will do anything long term. We need private investments.

The problem with all these “New Deal II” things is they all end in the same place, when done, it’s back to the unemployment line. Ask FDR how.

You want housing fixed, zero out cap gains, especially for houses and add deductions for rental. You want factory jobs, reduce the corporate tax rate.

You want long term misery, then the CCC is for you.


12 posted on 11/22/2008 5:40:08 PM PST by Tarpon (America's first principles, freedom, liberty, market economy and self-reliance will never fail.)
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To: Diana in Wisconsin
And lets have a big hand for Mssrs Dodd, Frank, and Raines.

.


13 posted on 11/22/2008 5:41:19 PM PST by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: BenLurkin

>The most pessimistic of 17 Fed officials expects joblessness to rise to 8 percent at the end of 2009, which would be the highest in a quarter-century.<

Unless Paulsen and Bernie get off their asses, unemployment is going over 10% and that’s guaranteed! We need to steady the base of the financials. Rock solid steady, not this California quivering type of steady which is what we have now. Industry doesn’t know which way to think.

The market is going to keep falling week by week until we get a solid base.


14 posted on 11/22/2008 5:43:42 PM PST by B4Ranch (("In politics, nothing happens by accident. If it happens, you can bet it was planned that way." FDR)
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To: Diana in Wisconsin
New-home starts in October were the lowest since at least 1959...

Similarly, weak construction numbers -- housing starts fell 4.5 percent...

This says that we were less than 4.5% above the number of new home srarts in 1959! Even though the population of the country is much greater and much wealthier? I call BS!

15 posted on 11/22/2008 5:44:02 PM PST by Onelifetogive (I'm gonna drop talk radio in favor of some audio books. Gotta lower my blood pressure.)
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To: Diana in Wisconsin
Signs Point To Deep Recession

Sounds like an answer from a Magic 8 Ball
16 posted on 11/22/2008 5:44:11 PM PST by Krankor (Are you claiming you eat toucans or)
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To: Tarpon

Well, realistically, now we have the government bailing out the banks and the various industries.

That basically means the government owns them.

The book definition of socialism is “government ownership of the means of production”

We already have that.


17 posted on 11/22/2008 5:44:35 PM PST by djf (The harsh reality of life is that reality is harsh.)
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To: Diana in Wisconsin

Now when the bums walk the center medians with sign stating “Will Work For Food” during rush hour they will mean it with reason.


18 posted on 11/22/2008 5:45:21 PM PST by EGPWS (Trust in God, question everyone else)
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To: BenLurkin

The liberal wicked, satanic mediaWHORES created this fiasco for the sole purpose of electing the BLACK messiah...now WE our country and grandkids are going to have to pay terribly for their evil hellish deed.


19 posted on 11/22/2008 5:45:36 PM PST by RoseofTexas (God sees all and none will escape His judgment!)
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To: Diana in Wisconsin
The consumer price index plummeted by the most since that series of monthly data was started in 1947, as the economy slowed so abruptly that companies had to slash prices to sell products.

The consumer price index, a broad measure of inflation facing U.S. households, fell 1 percent in October, driven by an 8.6 percent decline in the price of energy. But the falling prices were considerably broader than that; excluding food and energy, which are volatile, prices fell 0.1 percent, the first monthly decline in that "core" price index since 1982.

90% of the decline in prices is food and energy. So, Oil Companies are slashing prices to sell product, but no one else really is...

20 posted on 11/22/2008 5:46:33 PM PST by Onelifetogive (I'm gonna drop talk radio in favor of some audio books. Gotta lower my blood pressure.)
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