02-13-2009, 03:52 PM
<!--quoteo(post=17818:date=Feb 13 2009, 01:23 PM:name=HemisFear)-->QUOTE (HemisFear @ Feb 13 2009, 01:23 PM) <{POST_SNAPBACK}><!--quotec-->[http]http://www.cnbc.com/id/29163654[/http]
Great article with full references to support my case that things aren't nearly as bad as the government has been spinning it.
-Pay particular attention to the section titled Growth, where reference to GDP comparisons are made about the current state of affairs vs the 70's. A fact that I illustrated earlier at the start.
My thinking is that the source shouldn't be shunned considering CNBC is owned by GE, Immelt being on Obama's advisory board, and isn't "spinning" things in my side of the fence.
One disclaimer however, I am a GE shareholder.
"unlike anything we've seen since the Great Depression!"...... [img]style_emoticons/<#EMO_DIR#>/jerkit.gif[/img]<!--QuoteEnd--><!--QuoteEEnd-->
Tell that to my 401(k). I've lost $25,000 in less than three months. Also, I walked through 300 North Michigan last weekend -- the shopping center across the street from Water Tower Place. It's sort of a "high-end" mall. 8 floors of shopping. Every single storefront is shut down except for Saks-Fifth and maybe one or two other places. I've never seen anything like it.
How many people do you know who have been laid off? My company has gone through several rounds of layoffs and we could be looking at more. Two people from my group were just canned -- including my supervisor.
Is your problem with the Great Depression quote that we aren't yet eating our leather belts? Are you not willing to admit that we're in a crisis? What is it going to take? Just how bad does it need to get? It seems like your political persuasion is clouding your judgment a little.
Granted, I wasn't around for the Great Depression, but this is *far* worse than anything I've lived through.
Great article with full references to support my case that things aren't nearly as bad as the government has been spinning it.
-Pay particular attention to the section titled Growth, where reference to GDP comparisons are made about the current state of affairs vs the 70's. A fact that I illustrated earlier at the start.
My thinking is that the source shouldn't be shunned considering CNBC is owned by GE, Immelt being on Obama's advisory board, and isn't "spinning" things in my side of the fence.
One disclaimer however, I am a GE shareholder.
"unlike anything we've seen since the Great Depression!"...... [img]style_emoticons/<#EMO_DIR#>/jerkit.gif[/img]<!--QuoteEnd--><!--QuoteEEnd-->
Tell that to my 401(k). I've lost $25,000 in less than three months. Also, I walked through 300 North Michigan last weekend -- the shopping center across the street from Water Tower Place. It's sort of a "high-end" mall. 8 floors of shopping. Every single storefront is shut down except for Saks-Fifth and maybe one or two other places. I've never seen anything like it.
How many people do you know who have been laid off? My company has gone through several rounds of layoffs and we could be looking at more. Two people from my group were just canned -- including my supervisor.
Is your problem with the Great Depression quote that we aren't yet eating our leather belts? Are you not willing to admit that we're in a crisis? What is it going to take? Just how bad does it need to get? It seems like your political persuasion is clouding your judgment a little.
Granted, I wasn't around for the Great Depression, but this is *far* worse than anything I've lived through.