Try following the conversation holly... Frank used both terms to describe what is happening in the U.S.
On Sep 16, 3:58 pm, Hollywood <[EMAIL PROTECTED]> wrote: > gaar, > > Two conseqetive quarters showing negative growth is the classic > definition. > So, i wonder why you used the term? I quote you, "Recession is not > Depression." > > On Sep 16, 3:20 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > No. > > > We had GROWTH last Qtr, as well as the QTR before that. > > > You understand that Recession has a definition, right? > > > On Sep 16, 6:54 am, Hollywood <[EMAIL PROTECTED]> wrote: > > > > gaar, > > > > So, you now agree that we are in a recession? > > > > On Sep 16, 8:45 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > Recession is not Depression... > > > > > Many said the same thing of the Policies Reagan put in place during > > > > the early '80's. > > > > > On Sep 16, 6:42 am, Frank <[EMAIL PROTECTED]> wrote: > > > > > > No it doesn't, it means another family is thrown on the street, which > > > > > becomes a drain on government services. How many job losses so far > > > > > this year 700,000, with thousands more acknowledged to be lost just in > > > > > the finance industry because of today's crash. Every job lost means > > > > > another job lost in an affiliated industry meaning less money to > > > > > spend, leading to further business down turn, leading to more layoff > > > > > leading to more defaults. With "at least" another 5 million home > > > > > default expected by 2012 how many more families will end up on the > > > > > street or relying on welfare? Debt doesn't disappear, someone must pay > > > > > and it is ALWAYS the worker that get stuck with the bill.. > > > > > > Go to this site > > > > > Gaarhttp://mwhodges.home.att.net/nat-debt/debt-nat.htm. > > > > > It will give you all the info you need, it is very comprehensive. He > > > > > is a believer in the free market, Milton Freidman and Ludwig Von > > > > > Mises, who I think are imbeciles. Nevertheless, this guy is very > > > > > worried about the US debt situation and has gone to a great deal of > > > > > trouble compiling data from the Fed Bureau of stats to warn Americans > > > > > of the gravity of this problem. > > > > > > Its no good telling me to keep a perspective on things when capitalist > > > > > economists are predicting as Greenspan said "a once in a hundred year > > > > > recession". He said that, not me. You need to come to grips with what > > > > > is really occuring. Go to bloombergs now, see for yourself. > > > > > > On Sep 16, 11:12 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > Frank, > > > > > > > What you fail to realize is that with each Foreclosure, that number > > > > > > changes, for the better. > > > > > > > The reason it got so bad was because of these bad Loans, and once > > > > > > they > > > > > > work their way out of the System, we are heading back up. > > > > > > > Yes, there may be as many as 5% - 7% of Total Mortgages that may end > > > > > > up being affected, overall and those are going to take a bit to work > > > > > > through.. > > > > > > > But may I remind you that means that at LEAST 93% will in FACT > > > > > > continue to pay their Mortgages on time without problems. > > > > > > > During the Great Depression, that number went up to well over 50%. > > > > > > > So let's try to keep a bit of perspective on this, shall we? > > > > > > > On Sep 16, 6:07 am, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > > Gaar, > > > > > > > > The main concern with the debt is not the collateral, it is the > > > > > > > ability to service it. Last year US debt grew 5.5 times that of > > > > > > > GDP, > > > > > > > meaning America can not keep up with current debt repayments and > > > > > > > requires one trillion in loans per annum to finance debt, further > > > > > > > compounding the problem. I can't remember the precise figure (do a > > > > > > > google search), but the average US household debt is over 100% of > > > > > > > income over per annum. Any collateral they have is owned by > > > > > > > finance > > > > > > > companies. > > > > > > > > On Sep 16, 10:47 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > > > Perhaps those who have been railing on about this would be good > > > > > > > > enough > > > > > > > > to also tell us how much "Net Worth" JUST American Households > > > > > > > > have, > > > > > > > > not including the Net Worth of our Governmental Assets?!?!?!?!? > > > > > > > > > Anyone?- Hide quoted text - > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > - Show quoted text -- Hide quoted text - > > > > > - Show quoted text -- Hide quoted text - > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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