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Originally Posted by gleem
yes, now ask yourself why the hell anyone would be lending us at historical lows, it's all artificial to maintain the status quo, shit is gonna bad when they run out of excuses and smoke and mirror stat manipulation.
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This is the question I asked you to consider.
I don?t buy into smoke and mirror stat manipulation. This is taking the conspiracy route.
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Unemployment is about 20% now, that 9.8% or whatever is only counting those on unemployment benefits, not those who are no longer qualified or never collected in the first place.
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I don?t disagree with this in a general sense and I don?t know of any credible economist who does either.
It is not a secret that there are different definitions, types and theories on
unemployment.
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Our economy is based on sheep spending throwing thousands on credit cards they don't have. When people start doing the right thing, cutting back on spending things they don't need and saving money... the correct behavior under any definition of responsible personal finance, the economy goes into a depression.. does that sound right? Either people spend money they can't afford or we go into a depression. If you save money you will kill the economy. Ridiculous!
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You are confusing public spending (fiscal stimulus) and monetary stimulus with personal spending.
The difference between us here seems to be that you are making value judgements while I?m just trying to speak in economic realities.
IOW, I agree with you that many stupid things are done at both the public and private level. That?s human nature. Luckily, history has shown that we make progress ? even if it comes in 3 steps forward, 2 steps back.
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Remove the vail or smoke and mirrors of debt from all the statistics and the economy is 20% smaller than it really is. Alot of the money appeared out of thin area to be lent to different parties over and over and back and forth.
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This is laced with verbiage found in videos like endofamerica or on CT sites that I think you need to clarify.
If you are implying doctored stats and a conspiracy to deceive the world by the US or other countries, I think that is just crazy.
Contrariwise, if you are speaking about, for example, CDO's / CDS's and the lack of regulatory oversight that allowed the leveraging of the underlying assets, then I agree that it was stupid and contributed to the problems we face. As did the private decisions made by many to
recklessly spend like sheep money they did not have.
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back to the porn, enough ranting lol
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I share your frustration and anxiety about the situation we face, and the work cut out for not just the US, but also the whole world. It?s a serious situation and one that is not likely to end painlessly.
Now, I?m going to take Mark?s advice and go for a run.