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2008-10-31 Home Front Economy

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Posted by Fred 2008-10-31 00:00|| || Front Page|| [11128 views ] Top

#1 Suck it up, Hugo and Dinnerjacket. Better put your dreams of revolutionary conquest on hold till oil prices rise again. Meantime, watch your six and keep the subsidies flowing. The peasants get pi$$ed when they don't get their cheap gas. Don't get them angry. You won't like them when they are angry.

Posted by Alaska Paul in Juneau, AK 2008-10-31 01:26|| 2008-10-31 01:26|| Front Page Top

#2 they say it like it is a bad thing.

Posted by Betty 2008-10-31 01:27|| 2008-10-31 01:27|| Front Page Top

#3 Actually, the economic news isn't bad. Think about what the news was today. If we had twelve consecutive months like this month, the economy wouldn't contract even by 1%. Not even by 1/2 of 1%. Not even 1/3 of 1%. If we had twelve consecutive months like this one, the economy would contract by a little over a quarter of a percent.

Basically it was flat. When it is flat, it can be a little on the plus side, or a little on the down side. It was a little on the down side but damned little.

Also, unemployment held steady. What that means is that you hear about companies laying off in the news but what you didn't hear about was an equal number of people being hired by other companies.

With the price of oil going down, transportation and shipping will do much better. In fact, lower energy costs help the entire economy. Things really aren't that bad. They aren't growing, but we aren't in any kind of a depression either.

Remember 12% unemployment and 18% interest rates when Carter was President? No, apparently not.

Posted by crosspatch 2008-10-31 02:16|| 2008-10-31 02:16|| Front Page Top

#4 Oil and other commodity prices are signalling things are going to get much worse. Commodity prices reflect future (planned) economic activity. The situation in Europe looks particularly dire. Volvo truck orders fell 98% Q on Q which is an astonishing number.

Posted by phil_b 2008-10-31 02:49|| 2008-10-31 02:49|| Front Page Top

#5 The futures price of refined gasoline is now LESS than the price of crude oil!

Posted by Minister of funny walks 2008-10-31 03:32|| 2008-10-31 03:32|| Front Page Top

#6 Hey let's not bad mouth Jimmuh!!!! His presidency was the best for me personally and I refute any thing bad about him!!!

If he hadn't ruined the economy for construction I wouldn't have been fired which forced me into a new career. I borrowed from a friend and went to CDI to learn programming!

He forced up interest rates so high that house prices tanked. When Reagan was elected I quick bought a house cheap and refinanced twice in 3 years dropping my interest rate from 17 to 8 percent. Then sold the house for 3 times what I paid for it.

Jimmy did me good, hear? 8^)

Posted by AlanC 2008-10-31 09:25|| 2008-10-31 09:25|| Front Page Top

#7 Yes, yes, yes.

Posted by g(r)omgoru 2008-10-31 09:47|| 2008-10-31 09:47|| Front Page Top

#8 i think the liberal media is making it sound worse than what it is. YEAH PPL ARE LOSING THEIR HOMES LEFT AND RIGHT BUT I SUSPECT MOST OF THEM BOUGHT HOMES THEY COULDN'T AFFORD IN THE FIRST PLACE. aSLSO I KNOW THIS IS GOING TOO BANKRUPT THE OIL RICH NATIONS BUT IT SURE AS HELL FEELS GOOD SQUEEZING THOSE BILLFOLDS

Posted by chris 2008-10-31 10:16|| 2008-10-31 10:16|| Front Page Top

#9 sorry about the caps

Posted by chris 2008-10-31 10:17|| 2008-10-31 10:17|| Front Page Top

#10 I think saying people are losing their homes left and right is a bit of hyperbole, no? Isn't the real foreclosure rate still only a couple percent? According to this 1 in 1685 households was in some state of foreclosure during September. That's a 9.2% decline from the previous month. Once we get pass this credit crunch and the subprime mortgage stuff shakes out, I think we'll be in pretty decent shape. Until Obama increases government spending by a trillion dollars and adds a ton of new taxes. Then we're screwed.

Posted by AllahHateMe 2008-10-31 11:01|| 2008-10-31 11:01|| Front Page Top

#11 If he hadn't ruined the economy for construction I wouldn't have been fired which forced me into a new career. I borrowed from a friend and went to CDI to learn programming!

Yeah, Jimmy got me out of the car business and into the IT world. Thanks Jimmy. But the Democrats can stop now.

Posted by Formerly Dan 2008-10-31 11:50|| 2008-10-31 11:50|| Front Page Top

#12 FDan, they not only can stop but they can pack up and leave!! I think they should all move to Zimbobby and demonstrate their true powers of reconstruction.

Posted by AlanC 2008-10-31 13:08|| 2008-10-31 13:08|| Front Page Top

#13 The price of oil going down from $145 to $65/barrel keeps $350 billion/year (or 2.5% of GDP) from leaving the US as was the case earlier this year. I believe that money and the domestic productivity it will buy will cushion or reverse the recession.

The administration needs to jawbone the price of oil even lower and make moves, even symbolic, to eliminate oil dependency from hostile regimes.

Posted by ed 2008-10-31 13:28|| 2008-10-31 13:28|| Front Page Top

#14 "Remember 12% unemployment and 18% interest rates when Carter was President?"

And the gas lines and the odd-even days for filling up....

I remember that slime-ball and his attempt to destroy our economy and our nation. There's a nice warm spot waiting in his future.

Posted by Barbara Skolaut">Barbara Skolaut 2008-10-31 13:31|| http://ariellestjohndesigns.com/]">[http://ariellestjohndesigns.com/] 2008-10-31 13:31|| Front Page Top

#15 And the fuel siphoning from one car to the other.

(A moment of silence for Dad's 1957 Corvette which was replaced with a 1974 Vega.)

Posted by Grenter,protector of the Geats 2008-10-31 13:49|| 2008-10-31 13:49|| Front Page Top

#16 a 1974 Vega

Aluminum block? What a hideous vehicle. Had to get rid of 69 4-4-2 for a damn Vega. That's why I hate Carter.

Posted by Beavis 2008-10-31 13:56|| 2008-10-31 13:56|| Front Page Top

#17 If memory serves (and I try to block that period... and I am VERY happy that car was hauled away before I ever drove it) it had the Iron Duke, which may have been a V-4 (as opposed to an inline 4).

Posted by Grenter, Protector of the Geats 2008-10-31 17:23|| 2008-10-31 17:23|| Front Page Top

#18 Sorry G,PotG, the Iron Duke was an inline 4. no aluminum, but cheap-ass plastic timing gears that when they failed made you yank the damn motor from a GM FWD car to change.

Posted by USN, Ret. 2008-10-31 17:26|| 2008-10-31 17:26|| Front Page Top

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