I really don't know if it is much of a surprise anymore but the economy is still a slump.  CNN reported earlier that the housing market, while better in larger cities, is still falling with fourclosures up for January.  There has been no really move in the unemployment market, with early reporting figures in still at around 10% unemployment, but trends on highering are up, just not much.  The state of the union address over with big stresses on jobs, we will see where the first quarter of 2010 takes us, either up or down.

Quote from: Azorus on January 28, 2010, 10:46:16 AM
I really don't know if it is much of a surprise anymore but the economy is still a slump.  CNN reported earlier that the housing market, while better in larger cities, is still falling with fourclosures up for January. ...

You're right, Azorus.  The housing stimulus for new homeowners is winding down, and as a result, sales of existing homes has fallen for two straight months.  Not a good sign, to say the least.

Quote
... There has been no really move in the unemployment market, with early reporting figures in still at around 10% unemployment, but trends on highering are up, just not much. ...

Correct again.  I saw that on the TV news.  Times will be rough for a long period.  No end in sight, really.

Quote
... The state of the union address over with big stresses on jobs, we will see where the first quarter of 2010 takes us, either up or down.

Obama could have done that earlier, instead of concentrating on health care.  Whether he did or not probably won't make much difference.  It's going to get really bad everywhere, eventually.

--Lee

Hi all,

Here is an good article I found:

An Analysis of the IMF's World Economic Outlook for 2010
http://seekingalpha.com/article/184723-an-analysis-of-the-imf-s-world-economic-outlook-for-2010

4Tesla

Quote from: 4Tesla on January 29, 2010, 01:43:33 AM
Hi all,
Here is an good article I found:
An Analysis of the IMF's World Economic Outlook for 2010
http://seekingalpha.com/article/184723-an-analysis-of-the-imf-s-world-economic-outlook-for-2010
4Tesla

@4Tesla
Good article.  Things haven't changed, though.  Monetary problems haven't been addressed.  The bubble Obama re-inflated will burst like the first one.

The article didn't say that, though.

--Lee

Quote from: the_big_m_in_ok on January 29, 2010, 01:33:07 PM
@4Tesla
Good article.  Things haven't changed, though.  Monetary problems haven't been addressed.  The bubble Obama re-inflated will burst like the first one.
The article didn't say that, though.
--Lee

There's more information available:

Has everyone heard of Glenn Beck, the conservative cable TV economist/commentator?
On 2 Feb., this year, he alluded to why the economy hasn't been fixed by Obama and Congress:

1) The American debt/asset worth ratio in 1929 was 16%.  Now it's a lot worse at 96%, and a lot of that debt is owed to China.

2) Unsecured debt(credit cards, etc,) is something like $10-15 trillion.  For SSI and SSDI, it's $107 trillion.  Not including medical expense/debt.  Trillions more on top of that.  This wasn't nearly as big a problem in 1929.  Beck said this was too big to be paid off by anyone.  Impossible.

3) In 1929, people mostly owned their residential houses and were capable of growing a garden; not today.  My mom's mother was a lot more self-reliant then than most people are now.  She had a small farm and grew a garden.  People today depend on store-bought food.
I admit, I do, too.  I realize I'm in the same boat as most people, but I'll have to deal with that like everyone else, too.

All this adds up, even if I'm reading from hastily written notes.  Another set of 'nails in the coffin', so to speak.

--Lee