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Looks Like We're In a Recession, Not a 'Recovery'
Fox News ^ | August 5, 2011 | John R. Lott Jr.

Posted on 08/05/2011 9:43:18 AM PDT by JohnRLott

There seems no place to hide. Americans have seen the value of their stock portfolios crash this week. The S&P 500 and NASDAQ have both lost about 8 percent of their values, and they are headed down again today.

This week the Japanese NIKKEI stock market also lost over 9 percent of its value. And the UK's FTSE has lost over 11 percent. The German DAX about 13 percent.

So much for promises that if we only passed the debt ceiling increase the stock markets would be calmed.

Everyone was waiting for today's unemployment numbers to be released. The 117,000 new jobs temporarily lifted spirits because the number was better than what many had expected, but it was still not enough new jobs to even absorb more than three-quarters of the growing working-age population. Unemployment fell because 193,000 more people simply gave up looking for work.

Indeed, people giving up looking for work has been the hallmark of the Obama administration.

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


TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: johnlott; obama; recession; stockmarket; unemployment

1 posted on 08/05/2011 9:43:21 AM PDT by JohnRLott
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To: JohnRLott

Apparently those at Fox, much like many here, need to be re-schooled in exactly what constitutes a recession. Google is your friend.


2 posted on 08/05/2011 9:44:55 AM PDT by Peter from Rutland
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To: Peter from Rutland
NYTimes - Time to Say It: Double Dip Recession May Be Happening
3 posted on 08/05/2011 9:47:54 AM PDT by newzjunkey (Next: get behind ONE "Balanced Budget Amendment" (BBA))
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To: JohnRLott

“If we could just get everyone laid off, and then get them to give up looking for work, we’d have 0% unemployment!

That’s what I’m talkin’ about.” (Obama internal musing #721B, 5 Aug 2011)


4 posted on 08/05/2011 9:48:16 AM PDT by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their VICTORY!)
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To: Peter from Rutland
Google is not your friend.
5 posted on 08/05/2011 9:50:57 AM PDT by Hoodat (Yet in all these things we are more than conquerors through Him who loved us. - (Rom 8:37))
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To: JohnRLott

“Recovery” is now the new euphemism for “depression.”


6 posted on 08/05/2011 10:04:52 AM PDT by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: JohnRLott

Obama wants as many people on the dole as possible. He looks at them as votes for sale and he’s buying with our money.


7 posted on 08/05/2011 10:14:59 AM PDT by Scotsman will be Free (11C - Indirect fire, infantry - High angle hell - We will bring you, FIRE)
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To: JohnRLott

“we are heading in the right direction from this mess i inherited”


8 posted on 08/05/2011 10:27:11 AM PDT by Soothesayer9
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To: JohnRLott

Been in one for a long time. More like or worse than 1929.


9 posted on 08/05/2011 10:39:56 AM PDT by mulligan
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To: Mr Ramsbotham

LOL! Seriously though, we very well may be in depression. We basically are there except that prices are not falling. Yes, in a depression there are periods of modest growth and stock market gains. Prior to 1900, depressions were typically over in 8 to 16 months. Now that gov’t tries to “save” the economy, depressions can be prolonged.


10 posted on 08/05/2011 10:55:57 AM PDT by mlocher (Is it time to cash in before I am taxed out?)
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To: JohnRLott

Recession my butt....Depression.


11 posted on 08/05/2011 7:41:04 PM PDT by TennTuxedo
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To: TennTuxedo

And then, after a while, world war III.


12 posted on 08/06/2011 7:42:26 PM PDT by GregoryFul (Obama - Jim Jones redux)
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