How Bad Is It???

[spence]

Originally Posted by wheresmy50

The US economy IS diverse and fundamentally sound. This is an over-correction and will pass.

Nothing to see here, move along...

Ok Senator McCain

We've gone from a nation that primarily produces to one that primarily consumes and borrows to keep consuming. This isn't fundamentally sound.

-spence

[striperman36]

http://www.boston.com/business/ticke...loyment_1.html

Ouch.

[BigFish]

I agree RIJimmy! Wheresmy50 things must be nice in the world you live in! Can I get a pair of those rose colored glasses? Recession has to be the stupidest word/term I have ever heard! I think it was made up by politicians so they can put a pair of those rose colored glasses on everyone when there is a brown pile of crap staring them in the face! Recession as it is known has come and passed in my eyes and we are staring depression in the eyes as we speak!! Not a depression as they knew the one in 1929 but a modern day depression! The mortgage companies get a bailout of 700 billion dollars from the government so they do not go tits up, the "Big Three" are seeking same as they are on the verge of collapse and unemployment is an out of control freight train that is gaining steam and headed for 10% nationally so you better get out of the way because if you do not think that train is coming down the tracks as sure as we speak here it is going to crush you! Might want to pick up a paper, watch the news or better still.......just talk to your neighbors on either side of you.....they may have a different story to tell about how bad it is!

[mekcotuit]

I work for a medium size financial mgmt company. From 2002 to 2008 our assets under management went from 250 million to just about 8 billion dollars this past August. From August to yesterday? we are down to 4.4 billion. I know when I say billions you are thinking huge amounts, but the drop from August is truly frightening in such a short time. Just walking through South Station and on the train you can sense the mood and see the anxiety in people's faces. Obama has his work cut out for him but I think we all need to drop the crap about who's fault it is, he's a socialist, etc and pull together. After all, that spirit of community got the country through the 30's (and 25% unemployment - 1 out 4 workers!!!) even though there are still dip%$%$%$%$s to this day who poo poo Roosevelt and his programs as "socialist"..

[fishbones]

Originally Posted by striperman36

http://www.boston.com/business/ticke...loyment_1.html

Ouch.

Last night they showed a chart on the news that put RI at 10.3%. MA & CT were a little better, but overall, New England is taking a pretty big hit.

[HESH2]

thinking about all the places my dad and his generation worked at all mfg jobs gone.drive along 95 in ct and see all the old factory brick buildings closed for years.the gun that won the west winchesters and colt gone for years.wow free trade,all mfg jobs to china,usa a consumer nation in the toilet.thank our politicans and keep on thanking them.