We have had 2 quarters of negligible growth which meets the definition of recession.
The next and greatest Depression ever.
- Thread starter singist
- Start date
We have had 2 quarters of negligible growth which meets the definition of recession.
Indeed there is, which is why the changes to the community reinvestment act were such a bad idea...
Unfortunately the US government has been consistently encouraging bad lending practices, and reducing the safeguards possible through regulation and implicit government backing for companies like credit rating agencies that should have remained fully independant.
I've been doing ok, 2 houses paid $110,00 each with the mortgage payments being $700 a month, getting $1150 for rent so it's working out well.
Associate
- Joined
- 24 May 2004
- Posts
- 439
The solution to this is for etailers to start giving away their high end graphics cards for free...
Seriously though, each day when I watch the news I think can it get any worse? Each day it appears worse. I never expected the Icelandic story to have as big an impact as it has.
Seriously though, each day when I watch the news I think can it get any worse? Each day it appears worse. I never expected the Icelandic story to have as big an impact as it has.
Have you got a source on that?
I've been doing ok, 2 houses paid $110,00 each with the mortgage payments being $700 a month, getting $1150 for rent so it's working out well.
that works out to about £600 a month - not great really
(looks at the exchange rate and takes it back) 
only jokin, thats bloody excellent mate, you must be sitting back right now with a big cuban in between your lips and waving a two finger salute to the rest of us!
that works out to about £600 a month - not great really
only jokin, thats bloody excellent mate, you must be sitting back right now with a big cuban in between your lips and waving a two finger salute to the rest of us!
Aye, was very easy too, just needed a good real estate broker and a head for a bit of risk. Im set for 18 months as both tennants have got 18 month contracts
Now that a couple of our brothers across the pond have joined us maybe they'd like to explain why they pay income tax and what it is spent on? ...... I'll save you the trouble.
There is NO statute in the USA that requires any ordinary working man to pay income tax.
Not one cent of all the income tax collected is spent on what the people expect it to be spent on ........ it ALL goes in interest payments.
Corporate tax just happens to be the same as is spent on defense.
Have the new ID cards been issued over there yet?
There is NO statute in the USA that requires any ordinary working man to pay income tax.
Not one cent of all the income tax collected is spent on what the people expect it to be spent on ........ it ALL goes in interest payments.
Corporate tax just happens to be the same as is spent on defense.
Have the new ID cards been issued over there yet?
That 0% - is that after GDP being corrected for inflation? I guess it is as it would be pretty meaningless if it wasn't, but which value for inflation?
Many people suggest inflation is actually higher than the official figure - if the real value of inflation is an iota higher than the official figure - and correcting with the official figures show 0% growth, then in reality growth must be negative already.
I suspect this is probably true. Dolph's interpretation of events is... novel, to say the least.
Already posted in this thread:
UK economic growth ground to a halt between April and June, according to the latest official figures. The Office for National Statistics said the economy stalled, showing no growth from the first quarter of 2008.
It ends a run of more than 15 years of consecutive growth in the UK and will raise expectations of a rate cut.
The 0% growth figure was down from an earlier estimate of 0.2% and lower than the 0.3% growth recorded in the first three months of 2008.
Beeb.
Given that I've expressed little opinion on the current state of our economy, and that my wording earlier on was very specific, it seems to me that this is more of an appeal to ridicule than a valid argument.
What I said, specifically, was this.
Now given that traditionally, a recession is defined as two quarters of negative growth (that is, a contraction) of GDP as reported, we are not there yet. This definition was implied by the use of the word 'technical' to refer to the common economic definition.
At no point have I actually passed an opinion on what is likely to happen in the future, nor what I believe is currently happening in the markets. It's clear that we're heading into a recession, irrespective of whether the technical definition has been met (the minor recession in 2001 in the US didn't meet the criteria either, yet it's still counted). How bad it will get, how deep it will go, and how long it will last is still up in the air, and anyone who claims to have any insight on that is either simply making things up as they go along or expressing their opinion as something more. largely, it depends on whether the measures being taken over the next couple of months as the various bailouts start to kick in properly do what they need to.
Soldato
- Joined
- 8 Mar 2006
- Posts
- 13,300
- Location
- Near Winchester
Yes, it's not by definition a recession yet. So all is well in the world.
Erm no, I don't care what you want to call it, and whether you want to call it it yet. It's happening.
Erm no, I don't care what you want to call it, and whether you want to call it it yet. It's happening.