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unemployment wise.. what say you? i'm guessing close to 10% nationwide average by mid 2009':upsidedown:
 

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Deo VIndice
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December 05, 2008
Nonfarm payroll employment fell sharply (-533,000) in November, and the unemployment rate rose from 6.5 to 6.7 percent. Job losses were large and widespread across the major industry sectors.... http://www.bls.gov/cps/

I am thinking between 11 and 12 by summer... :(
 

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To secure peace is to...
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I think unemployment will be slowed because of the handouts, I mean bailouts. However, the long-term effects is where the bailouts are really going to screw us. In another year or two the inevitible inflation from the bailouts will cause further problems.
 

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American fearmaker
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Actually, back in the days of the Depression a lot of the unemployed weren't even counted. At best, the amount of unemployed were guessed at and even those guesses were far from right.
 

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Some are predicting the next Great Depression, some are predicting a new Dark Ages.

I expect it will take 5 to 15 years of decline before Dark Ages are achieved. That's my secular expectation although I truly expect something else to ultimately occur.
 

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I think unemployment will be slowed because of the handouts, I mean bailouts. However, the long-term effects is where the bailouts are really going to screw us. In another year or two the inevitible inflation from the bailouts will cause further problems.

I don't see how the bailouts are going to slow down unemployment when the financial institutions aren't loaning out the money, but are instead buying other companies and assets with the money.

I sure hope that you're right, though. :)
 

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To secure peace is to...
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The bailout will slow down unemployment because the fed has also dropped the interest rate. This will spur some spending, thus slowing down unemployment. I didn't say stopping it though.

This is an unfortunate situation.
 

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RockOut w/ your GlockOut
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Tens of millions of people unemployed

Financial manager sees far tougher times ahead, including a depression.

Excerpts:

CHICAGO - People aren't laughing any more at the way-out-there predictions of Peter Schiff, whose long-standing pessimism about the economy and stock market has been largely borne out.

further on,

How bad do you think things will get?

Tens of millions of people unemployed, inflation spiraling out of control, the government instituting price controls that result in shortages and blackouts and long lines for things. I think things are going to get very bad.
further on,

From an investment point of view, investors need to stay clear, because they need to realize that it's not just U.S. stocks and real estate that are going to lose value, but U.S. bonds. This is the last bubble yet to burst. I think we're going to see a collapse of the bond market sometime during Obama's first term, and interest rates are going to spiral out of control, and the dollar is going to just be destroyed.



Read more here: http://www.poughkeepsiejournal.com/a...312/1003/RSS02
 

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This site Sucks
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If you follow most of the plans to get bail out money they include job cuts. GM proposed CEO pay cut to $1 for 2009, cut 31,000 jobs and close 1,750 dealerships, amongst other cuts. so either way people will lose their jobs and it will roll downhill from there. The trickle down effect will wipe out tons of small businesses that support the big ones. So total job losses will be staggering in my opinion and that's just one company. banks won't loan money if they don't have it or you don't have a job, therefore you won't buy big ticket items or small ones for that matter. The govt will lose the tax money you were paying in, including unemployment. Money for unemployment will cease and the riots/protests/and theiving will begin.
 

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The unemployment numbers have been "adjusted" over the years, like the CPI to make the economy look better that it really is. Some say the numbers are already something like 15-16 percent if you figure it the old way. Over time the numbers have been fudged a lot.

Now, you are no longer considered unemployed after your unemployment benefits run out, they only count people receiving unemployment checks.

Consider, If everyone in the USA was fired tomorrow, the statistics would show ZERO unemployment, as soon as those benefits ran out.

They adjusted the CPI over time by substituting the basket contents. There used to be steaks in the basket, now they count Spam.

It could get pretty bad.
 
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