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Two thirds of Americans predict recession!

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Re: Two Thirds of Americans predict Recession !

Pat said:
Sure a recession, but the economy to collapse to a state where there is mass unemployment, hyperinflation?
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Depends on what you define as "mass unemployment".

I'd argue that the high rate of unemployment seen nationally in Australia in the early 1990's was bad enough to be considered a crisis. Worth considering that many regional areas were far worse than the national average too.
:2twocents
 
Re: Two Thirds of Americans predict Recession !

Pommiegranite said:
"50% of American believe Austria is a state of Australia".

Okay..okay...I just made that up...but could be true.:D

Anyways..you guys seen this :D: http://www.youtube.com/watch?v=M1N351vzY-M
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When I first visited "New Joisey" USA in the 70's I was asked how come I spoke english "so good". I explained I took it as a second language.

"World News" on the TV meant they ran stories from California.

Later I was doing my trip report and asked the boss's secretary if I could borrow a rubber. She said in this country guys usually provide their own.

Sheeez!

regards YN. :)
 
Re: Two Thirds of Americans predict Recession !

theasxgorilla said:
Sounds like New Orleans.

Where are you from Pat? Please don't tell me you're in Australia and you see people with no money for food and can't get/afford access to medical services?
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Pat said:
I meant I was told that during the depression it was hard to feed a family, often people went hungry etc.
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Sorry Gorilla got no idea what happened there? Beers fault I guess. :alcohol:
 
American growth rate was above 3% last quarter.

The media in America is the reason people think America is in recession. If we had a Democrat president, and this same economy, the media would be reporting how great the economy is, how low unemployment is, how high the stock market is, etc., etc. With Bush, they push the negative side of everything.

I can guarantee that 20 years from now, people will still be predicting the demise of America and its economy. I'm old enough to have lived through the '70s when people were predicting Japan was going to overtake American. Didn't happen. Now, it is supposedly China and India's turn to overtake America. It won't happen.
 
In an interview on Wednesday afternoon, Starbucks Corp.’s CEO Jim Donald said that the ability of its customers to order Frappuccinos and cappuccinos is being hurt by rising prices for gasoline, milk and other commodities.

“All these things just add up to, maybe people aren’t going four times a week,” he said. “Maybe it’s three times a week.”
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http://http://blogs.reuters.com/2007/08/02/are-we-facing-a-latte-recession/


Cutting back on lattes is a Ominous warning i reckon! When Starbucks see it in there bottom line its not long till others do to ...
 
numbercruncher said:
Cutting back on lattes is a Ominous warning i reckon! When Starbucks see it in there bottom line its not long till others do to ...
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The most unusual economic indicator could be the noodle index. This measure originated in Thailand, but could work here as well. During tough times, consumers will buy more noodles, because they're cheaper than beef.
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Heres an article about some more unusual ways to see the vital signs of an ecconomy.

http://www.pbs.org/nbr/site/onair/transcripts/061030d/
 
theasxgorilla said:
Yep, cutbacks on the horizon...A half-pounder and a litre of cola at Wendys instead of 3/4 pounder and a bucket of fizz...those poor people.
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We find it easy to dish on our yankee cousins, but a recession could be good for Aussie waistlines too ....


MORE than two-thirds of Australians living outside major cities are overweight or obese, and extremely obese corpses are creating a safety hazard at morgues, according to two studies.

Nearly three quarters of men and 64 percent of women were overweight in a study of people in rural areas.

Just 30 percent of those studied recorded a healthy weight, said research published in the Medical Journal of Australia.

"Urgent action is required at the highest level to change unhealthy lifestyle habits by improving diet, increasing physical activity and making our environments supportive of these objectives," wrote the lead researcher, Professor Edward Janus.

The figures were much higher than for the general population, where statistics show about 3.2 million of Australia's 21 million people are obese.
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http://www.news.com.au/heraldsun/story/0,21985,22193138-5005961,00.html


Supersize me !!! :eek:
 
numbercruncher said:
We find it easy to dish on our yankee cousins, but a recession could be good for Aussie waistlines too ....
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:) sadly you are sooooo right...doesn't help that in most parts of Aust you can eat out practically every night of the week, get GREAT food and it doesn't cost that much either.
 
ZzzzDad said:
American growth rate was above 3% last quarter.

The media in America is the reason people think America is in recession. If we had a Democrat president, and this same economy, the media would be reporting how great the economy is, how low unemployment is, how high the stock market is, etc., etc. With Bush, they push the negative side of everything.

I can guarantee that 20 years from now, people will still be predicting the demise of America and its economy. I'm old enough to have lived through the '70s when people were predicting Japan was going to overtake American. Didn't happen. Now, it is supposedly China and India's turn to overtake America. It won't happen.
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lol, no Dynasty lasts forever, they all end sooner or later.
 
nomore4s said:
lol, no Dynasty lasts forever, they all end sooner or later.
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I reckon you are right about that. In about a billion years, the sun will expand and consume the earth. But by then, I think America will have ventured out beyond this solar system.

Optimism for America AND Australia for me.

Pessimists wither and die.
 
The biggest losers over my lifetime have been the constant doom and gloomers, the sky is falling types. Nothing wrong with confidence and optimism. It is self fulfilling.

More people should try it. Look on the bright side.

Doom and glooms breeds failure. Optimism and hard work breeds success.
 
ZzzzDad said:
The biggest losers over my lifetime have been the constant doom and gloomers, the sky is falling types. Nothing wrong with confidence and optimism. It is self fulfilling.

More people should try it. Look on the bright side.

Doom and glooms breeds failure. Optimism and hard work breeds success.
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That's what Cramer was doing two weeks ago.

Eyes open optimism is great. Head in the sand optimism can get folks into a lot of trouble... as we are seeing in the US mortgage sector atm... and Iraq.

:2twocents
 
BTW, many bears are optimists, just in different areas and with different priorities.

:2twocents
 
wayneL said:
That's what Cramer was doing two weeks ago.

Eyes open optimism is great. Head in the sand optimism can get folks into a lot of trouble... as we are seeing in the US mortgage sector atm... and Iraq.

:2twocents
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Let me give you an example Zzzzdad:

I notice in your profile:

Age:
50
Location:
Nashville TN USA
Interests:
Long distance running

You may enter into a marathon for tomorrow and be optimistic in finishing in reasonable time. That optimism would be based upon your having trained for the event and that you are confident in your fitness for the event.

I may enter the same race and be optimistic of finishing... but I would be a fool because I am blind to the fact that I've never run the distance, am not fit and have only just recovered from a cruciate ligament injury.

There is a quantum difference in our "optimism" which is critical for survival.

Cheers
 
wayneL said:
Let me give you an example Zzzzdad:

I notice in your profile:

Age:
50
Location:
Nashville TN USA
Interests:
Long distance running

You may enter into a marathon for tomorrow and be optimistic in finishing in reasonable time. That optimism would be based upon your having trained for the event and that you are confident in your fitness for the event.

I may enter the same race and be optimistic of finishing... but I would be a fool because I am blind to the fact that I've never run the distance, am not fit and have only just recovered from a cruciate ligament injury.

There is a quantum difference in our "optimism" which is critical for survival.

Cheers
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WayneL,
Thanks for the respectful dialogue. That is something that is unfortunately missing on cyberspace message boards. I don't totally disagree with you. Head in the sand optimism is false optimism. I go by what is a long term track record for America (and all the free democracies for that matter). There will be temporary blips in the road, but the long term is up. This is mainly a technology driven economy, and America is the leader in technology improvements and implementation.

A 10 or even 15% correction, which is what we are looking at does not a recession make. On average, there have been two or more 5% or more dips every year for the past decade or so. We are due for this, but it is still in the context of a long term bull market.

I'm more of a Kudlow optimist than a Cramer optimist. Listening to Cramer yell and scream drives me crazy.

Let's hope I'm right. There are many (and I'm not including you) that would love to see the downfall of the U.S., Australia, etc., in order to gain socialism in those countries. I don't believe they will be successful, unless everyone converts to the gloom and doom sky is falling mentality.
 

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