Is the economy better?

One year has passed. Is the economy better? How long will we walk out of the recession? Any opinion is appreciated.

SOme "experts" are saying that we are "officially" out of the recession based on technical data, but we I think another cliff is around the corner that we will fall off of, before a real recovery is seen, and more importantly FELT by most people.

A classic jobless recovery (http://www.google.com/hostednews/afp/article/ALeqM5jyWjjnWpGHcWf9ZD0HduitpRX21g). Just hoping not a double dip in a few quarters.

When I start showing an increase in my sales numbers then the recession will be over for me. ;)

No, its not getting any better. Citities, states, citizens, etc are getting into more debt. The economy is more global than it has ever been. Thus we might be forced to get used to high unemployment as many of the loss jobs won't come back.

It has to be better, our new President said it would "change".

No, its not getting any better. Citities, states, citizens, etc are getting into more debt. The economy is more global than it has ever been. Thus we might be forced to get used to high unemployment as many of the loss jobs won't come back.

It has gotten a lot better for some (http://www.ft.com/cms/s/0/f012c4b2-b8f6-11de-98ee-00144feab49a.html).

It has gotten a lot better for some (http://www.ft.com/cms/s/0/f012c4b2-b8f6-11de-98ee-00144feab49a.html).

If me read the article correctly,those wages were paid before they joined Obama's group of "advisors". Most certainly they took a pay cut as a government employee.

Well the people without job's would say no and with the dollar continuing to lose ground inflation can't be far behind.:(

If me read the article correctly,those wages were paid before they joined Obama's group of "advisors". Most certainly they took a pay cut as a government employee.

That is true. They may have taken a pay cut but total compensation will greatly increase. You are astute enough that I'm sure I don't have to tell you how things work in the DC political class.

It has also gotten better for walls treet and many in the finance/banking industry...thx to the bail outs. Meanwhile, foreclosures are up for main street: worse three months ever (http://money.cnn.com/2009/10/15/real_estate/foreclosure_crisis_deepens/index.htm?postversion=2009101507)

It has gotten a lot better for some (http://www.ft.com/cms/s/0/f012c4b2-b8f6-11de-98ee-00144feab49a.html).

It has also gotten better for walls treet and many in the finance/banking industry...thx to the bail outs. Meanwhile, foreclosures are up for main street: worse three months ever (http://money.cnn.com/2009/10/15/real_estate/foreclosure_crisis_deepens/index.htm?postversion=2009101507)

The housing market is very troubling. Thank goodness we have elected geniuses to fix the easy credit bubble with more easy credit.

So are you saying that mccain/palin would have done a better job?

The housing market is very troubling. Thank goodness we have elected geniuses to fix the easy credit bubble with more easy credit.

So are you saying that mccain/palin would have done a better job?

Of course they would of. We would have tax cuts which is proven to create jobs. And they aren't socialists! Good enough for you?

Hey guys, just be glad we passed the Stimulus bill otherwise unemployment might have gone higher than 8%.

http://otrans.3cdn.net/ee40602f9a7d8172b8_ozm6bt5oi.pdf
See page 4.

Thank goodness that didn't happen....

Of course they would of. We would have tax cuts which is proven to create jobs. And they aren't socialists! Good enough for you?

Some people tend to disagree - http://www.cbpp.org/cms/index.cfm?fa=view&id=1811

Hey guys, just be glad we passed the Stimulus bill otherwise unemployment might have gone higher than 8%.

http://otrans.3cdn.net/ee40602f9a7d8172b8_ozm6bt5oi.pdf
See page 4.

Thank goodness that didn't happen....

MOB,,,you forgot the fine print -

"It should be understood that all of the estimates presented in this memo are subject to significant
margins of error. There is the obvious uncertainty that comes from modeling a hypothetical
package rather than the final legislation passed by the Congress. But, there is the more fundamental
uncertainty that comes with any estimate of the effects of a program. Our estimates of economic
relationships and rules of thumb are derived from historical experience and so will not apply exactly
in any given episode. Furthermore, the uncertainty is surely higher than normal now because the
current recession is unusual both in its fundamental causes and its severity."

MOB,,,you forgot the fine print -

"It should be understood that all of the estimates presented in this memo are subject to significant
margins of error. There is the obvious uncertainty that comes from modeling a hypothetical
package rather than the final legislation passed by the Congress. But, there is the more fundamental
uncertainty that comes with any estimate of the effects of a program. Our estimates of economic
relationships and rules of thumb are derived from historical experience and so will not apply exactly
in any given episode. Furthermore, the uncertainty is surely higher than normal now because the
current recession is unusual both in its fundamental causes and its severity."


How many times did they bring up the fine print in news broadcasts when we were told we had to pass the bill that very instant or face higher than 8% unemployment? My point was that 8% was used as a scare tactic to pass a bill that did nothing. In fact, many critics of the bill complained that the vast majority of the actual spending of the bill was delayed until mid 2010. Which it is. This was not a stimulus, it was a pork bill that had a little stimulus added to make the media happy.

Second, the cbpp is a left wing think tank. Why would they write anything that would make tax cuts look good? Critics point out that they tend to shade their reports.

So are you saying that mccain/palin would have done a better job?

Possible not. But couldn't do any worse.

How many times did they bring up the fine print in news broadcasts when we were told we had to pass the bill that very instant or face higher than 8% unemployment? My point was that 8% was used as a scare tactic to pass a bill that did nothing. In fact, many critics of the bill complained that the vast majority of the actual spending of the bill was delayed until mid 2010. Which it is. This was not a stimulus, it was a pork bill that had a little stimulus added to make the media happy.

Second, the cbpp is a left wing think tank. Why would they write anything that would make tax cuts look good? Critics point out that they tend to shade their reports.

As for the first part, me was merely pointing out that nothing was set in stone. Nobody can predict the future. They certainly underestimated the depth of the recession (depression).

On the second part about the cbpp, even if their predictions about the bush tax cuts were wrong,,,or shaded as you put it,,,the Bush tax cuts of 2001 had 7 years to work their magic. And the rest is history,,,called recession (depression).

How many times did they bring up the fine print in news broadcasts when we were told we had to pass the bill that very instant or face higher than 8% unemployment? My point was that 8% was used as a scare tactic to pass a bill that did nothing. In fact, many critics of the bill complained that the vast majority of the actual spending of the bill was delayed until mid 2010. Which it is. This was not a stimulus, it was a pork bill that had a little stimulus added to make the media happy.



Here is a good graph of what we were told and reality. And these clowns expect us to believe what they tell us about a government takeover of healthcare.

http://i823.photobucket.com/albums/zz160/platypusface/stimulusemployment.gif

Yeah, tax cuts for the super rich certainly worked when dubya was prez.. :rolleyes: What the economy is facing is bigger than what the typical supply side economics thinker understands... If taxes were cut, companies would have taken the $$ and run while still slashing jobs...

Of course they would of. We would have tax cuts which is proven to create jobs. And they aren't socialists! Good enough for you?

I dunno.. I still think the current admin is the lesser evil than mccain/palin. With all the stress of the job, mccain prob would have had a heart attack by now and prez palin would be in power... Look at how obama has aged since he has been in office..

Possible not. But couldn't do any worse.

Here is a good graph of what we were told and reality. And these clowns expect us to believe what they tell us about a government takeover of healthcare.

http://i823.photobucket.com/albums/zz160/platypusface/stimulusemployment.gif

A very good chart showing the depth of the Bush generated recession (depression).

Yeah, tax cuts for the super rich certainly worked when dubya was prez.. :rolleyes: What the economy is facing is bigger than what the typical supply side economics thinker understands... If taxes were cut, companies would have taken the $$ and run while still slashing jobs...

Nice try! Stop with the MSLSD & CNN talking points. How about the top 50% pay 96.54% of all income taxes & the top 1% pay 34.27%. Here's the CBO's effective federal tax rates for 2001-2014. You see the "poor" have no money. Therefore they don't pay anything.
http://www.cbo.gov/ftpdocs/57xx/doc5746/08-13-EffectiveFedTaxRates.pdf :haha:

A very good chart showing the depth of the Bush generated recession (depression).

Rangel/Dodd recession is more accurate. Since they have controlled the banking system for the last 3 years and are members of the party that has controlled the legislative branch as well, I think we should give credit were credit is due.

Of course they would of. We would have tax cuts which is proven to create jobs. And they aren't socialists! Good enough for you?Maybe they need to be more socialist and increase taxes.. afterall Canada's is pretty much (http://ca.news.yahoo.com/s/capress/091009/business/economy) out of the recession and apparently we're communist according to some people's standards...

Maybe they need to be more socialist and increase taxes..

It's coming. You can't print trillions of dollars and not to expect to see higher taxes.

Rangel/Dodd recession is more accurate. Since they have controlled the banking system for the last 3 years and are members of the party that has controlled the legislative branch as well, I think we should give credit were credit is due.

that accounts for 3 years,,,,what about the prior 5 years? This stuff don't happen over night.

that accounts for 3 years,,,,what about the prior 5 years? This stuff don't happen over night.

Agreed. Plenty of blame to go around. More of a government problem than a single party. Disappointing thing is that there has been no change.

Agreed. Plenty of blame to go around. More of a government problem than a single party. Disappointing thing is that there has been no change.

me 100% agrees. The only change we have seen is more government - and none of us want that.

Some people tend to disagree - http://www.cbpp.org/cms/index.cfm?fa=view&id=1811

Thanks again for posting a partisan left wing article. Notice how I use the CBO, which is non partisan.

me 100% agrees. The only change we have seen is more government - and none of us want that.

You could have fooled me. ;)

You could have fooled me. ;)

Not trying to fool anybody. Some of us "dangerous liberals" just might be your neighbor. Us liberals wish for the same free, healthy, progressive country as the conservatives do. We merely have a difference of opinion on how to maintain this beautiful country we own.

Not trying to fool anybody. Some of us "dangerous liberals" just might be your neighbor. Us liberals wish for the same free, healthy, progressive country as the conservatives do. We merely have a difference of opinion on how to maintain this beautiful country we own.

Progressive?? We conservatives never use that word! That's code for excessive douche baggery!! :lol:

Yeah, tax cuts for the super rich certainly worked when dubya was prez.. :rolleyes: What the economy is facing is bigger than what the typical supply side economics thinker understands... If taxes were cut, companies would have taken the $$ and run while still slashing jobs...

Who in the hell needs companies to do that? Obama & his cronies are taking your money while slashing jobs. Unemployment speeding to 10%. But I forgot, it's a jobless recovery. :eyecrazy

me 100% agrees. The only change we have seen is more government - and none of us want that.

Not trying to fool anybody. Some of us "dangerous liberals" just might be your neighbor. Us liberals wish for the same free, healthy, progressive country as the conservatives do. We merely have a difference of opinion on how to maintain this beautiful country we own.

:what:

So you are a Liberal voting for Liberal candidates who run on expanded government, but you don't want expanded government?:what::what::what::what::what::what::wh at:

$1.42 trillion federal deficit, with more to come, sows seeds of another economic crisis

http://www.sun-sentinel.com/news/nationworld/sns-ap-us-deficit-danger,0,6148183.story

:what:

So you are a Liberal voting for Liberal candidates who run on expanded government, but you don't want expanded government?:what::what::what::what::what::what::wh at:

As of late the only difference between a conservative administration and a liberal administration is - borrow and spend or tax and spend. What choice did we have in the last presidential election? As for bigger government, did not the Bush administration oversee the largest expansion of federal government - ever?

Maybe me thoughts are old school liberal, hell, who knows. If me be wrong thinking that we should take care of our own,,,okay, me be wrong. If me be wrong thinking we should go to war with a solid plan, win, then come home,,,me be wrong. If me be wrong thinking that we should explore and use new technology for energy instead of exploiting natural resources for few to profit,,okay, me be wrong. If me disagrees with spending around 25% of our budget on defense and less than 5% on educating our children,,okay, me be wrong. If me be wrong thinking that we should spend our tax dollars at home on infrastructure and health care,,okay,,wrong again. Bottom line,,,me lass and family would rather be wrong as a liberal, than so-called "right" as a conservative. Maybe we should send this to beck so he can shed another dusty tear.:lol::lol: Now that was hysterical (maybe rush can send some 'cotins his way),,,

As of late the only difference between a conservative administration and a liberal administration is - borrow and spend or tax and spend. What choice did we have in the last presidential election? As for bigger government, did not the Bush administration oversee the largest expansion of federal government - ever?

Maybe me thoughts are old school liberal, hell, who knows. If me be wrong thinking that we should take care of our own,,,okay, me be wrong. If me be wrong thinking we should go to war with a solid plan, win, then come home,,,me be wrong. If me be wrong thinking that we should explore and use new technology for energy instead of exploiting natural resources for few to profit,,okay, me be wrong. If me disagrees with spending around 25% of our budget on defense and less than 5% on educating our children,,okay, me be wrong. If me be wrong thinking that we should spend our tax dollars at home on infrastructure and health care,,okay,,wrong again. Bottom line,,,me lass and family would rather be wrong as a liberal, than so-called "right" as a conservative. Maybe we should send this to beck so he can shed another dusty tear.:lol::lol: Now that was hysterical (maybe rush can send some 'cotins his way),,,

Maybe we should use the sensible technologies we already have like nuclear and diesel instead of chasing special interest's pipe dreams that are decades away or just plain stupid in the first place like dumb ass ethanol from corn. Maybe we should fix the education system instead of throwing more money at a failed system. Maybe we'd have plenty of money to work on infrastructure if so much didn't get wasted on bullshit.

Nuclear for sure. We should take advantage of the best nuclear source we have on an everyday basis - the sun. Failed education,,yup. Don't know about your locale, but around here most schools were off for a week due to flu, then they turned around and went into fall break for another week off. Lil Johnny needs to stay in school o be educated.

Nuclear for sure. We should take advantage of the best nuclear source we have on an everyday basis - the sun. Failed education,,yup. Don't know about your locale, but around here most schools were off for a week due to flu, then they turned around and went into fall break for another week off. Lil Johnny needs to stay in school o be educated.

I'm sure we'll be using the Sun for a lot of energy in the next few decades. Solar shingles will probably be cheaper than regular shingles. It's just not here yet in any form that makes economical sense. You are welcome to get off the grid and go solar right now, it's available, I'm awaiting a report. It's only money, right?

Nuclear for sure. We should take advantage of the best nuclear source we have on an everyday basis - the sun. Failed education,,yup. Don't know about your locale, but around here most schools were off for a week due to flu, then they turned around and went into fall break for another week off. Lil Johnny needs to stay in school o be educated.

Trust me. Solar is STILL not ready for prime time yet. It ain't even close and i know this because one of my clients built two solar plants for property he has in Vermont and after all was said and done the person in one of the houses using it couldn't even use a HDTV or hardly any electric appliances even though the solar company swore the power provided would be about 130% of what was needed and the balance could be gotten as a credit back to the grid. It never happened and cell panels failed and in the end he had to spend $10s of thousands to run new power lines into the property. It is 10 years away from being good enough to provide power to a low use household I would say based on first hand experience.

I do agree we MUST work harder on better tech and alternate resources ASAP, but solar ain't ready for most of the country yet.

Right, solar is not ready. It is OK for powering small devices but not for anything on a grand scale. The costs are still too high for such small output.

I would love to have a solar powered bike.

Is the economy better?

Sure! The Dow is above 10,000. That's all that counts right?

:rolleyes: :helpme

I was listening to the news today. They mentioned that mid-sized banks are struggling with nearly weekly closes. Meanwhile large banks are getting bigger…will these become “too large to fail” in the future? There was recent news about the huge bonuses being paid to the execs of bailed out banks. Yes, the economy is doing great…

I think the "too big to fail" term will eventually be replaced the with new term "too big to save" at some point in the future.

We have yet to feel the fallout of all the new money being printed and what we will have is inflation along with higher unemployment we have now and still expected to grow.

What a look into the future? Just look at how the USD has fallen over the last couple of years against the Euro & other currencies.

"Too big to fail" means that those companies campaign contributions were too big to lose. This is pretty clear. The companies could have failed just fine and we would have been much better off since solid companies would take up the slack.

We have seen that in the last few weeks with the rising price of gas. I was out the other day and noticed some stations sold regular unleaded for $3 per gallon. Gas is supposed to be cheaper this time of the year.

"Too big to fail" means that those companies campaign contributions were too big to lose. This is pretty clear. The companies could have failed just fine and we would have been much better off since solid companies would take up the slack.

The best congress money can buy.

How could this be "unexpected"?

http://www.msnbc.msn.com/id/33490296/ns/business-stocks_and_economy
Americans' confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak, a private research group said Tuesday, fueling speculation that an already gloomy holiday shopping forecast could worsen.

The Consumer Confidence Index, released by The Conference Board, sank unexpectedly to 47.7 in October — its second-lowest reading since May.

the best our money can buy.

fixed.

I like Derfish's sentence better since Congress is bought and paid for by special interest groups. That is WHY ALL people in Congress need to be voted out of office since they will not vote term limits on themselves. I truly believe the longer they are there in office the more corrupt they become so why not remove them by vote BEFORE they get too corrupt?

I like Derfish's sentence better since Congress is bought and paid for by special interest groups. That is WHY ALL people in Congress need to be voted out of office since they will not vote term limits on themselves. I truly believe the longer they are there in office the more corrupt they become so why not remove them by vote BEFORE they get too corrupt?
That is definitely the case. If not "corrupt" maybe "ingrained" in the political culture. The '94 Reps showed this. They were real good for a few years and then slowly got back to the old DC ways.

Is the economy better?

Nope - the Dow is below 10,000 again.

That is definitely the case. If not "corrupt" maybe "ingrained" in the political culture. The '94 Reps showed this. They were real good for a few years and then slowly got back to the old DC ways.

'94,,,,about the same time Rove and Ashcroft started spreading their "wings" on the national scene. What a coincidence. :D

'94,,,,about the same time Rove and Ashcroft started spreading their "wings" on the national scene. What a coincidence. :D
:lol: Yep. Obama was still shaking down city councilmen back then.;)

I suppose it is better for some and worse for others. I think we have settled out some and are not spiraling downward as much, but that does not mean it is going to get a ton better anytime soon.

I like Derfish's sentence better since Congress is bought and paid for by special interest groups. That is WHY ALL people in Congress need to be voted out of office since they will not vote term limits on themselves. I truly believe the longer they are there in office the more corrupt they become so why not remove them by vote BEFORE they get too corrupt?

Bought and paid for by special interest groups...yes, but they spend OUR money.

Bought and paid for by special interest groups...yes, but they spend OUR money.

Sadly that is so true.

I think this answers the question well...

http://money.cnn.com/2009/11/04/news/economy/October_consumer_bankruptcy/index.htm?postversion=2009110412
Personal bankruptcies surge 9%

Number of Americans filing for bankruptcy continues to climb. Total bankruptcies expected to top 1.4 million in 2009, highest in 4 years.

The number of Americans filing personal bankruptcies surged 9% in October and were on target for the highest annual total in four years, according to a report issued Wednesday.

The American Bankruptcy Institute, an industry research firm that relies on data from the National Bankruptcy Research Center, said 135,914 consumers filed for bankruptcy last month. Almost a third of the bankruptcies were filed under Chapter 13, in which consumers are put on a repayment plan of up to five years.

"The nearly 9% increase in consumer bankruptcy filings in October, together with a 7% jump reported in business cases, demonstrates the sustained stress on the U.S. economy," said ABI executive director Samuel Gerdano.

The group forecasts total bankruptcies to exceed 1.4 million in 2009, which would be the highest since 2005. It would also be an increase of at least 30% from last year.

"People are still carrying a lot of debt in terms of credit cards and home equity loans, and unemployment is still rising," said Maureen Thompson, legislative director for the National Association of Consumer Bankruptcy Attorneys in Washington. "All of those factors are hitting consumers at the exact same time."

While some Americans are able to survive by tapping into savings and retirement funds, Thompson said many middle-income families are struggling after becoming unemployed for longer than anticipated. And with their homes values lower, interest rates creeping higher and credit lines reducing, they are being forced to declare bankruptcy.

And now we have one of the largest banks (Citigroup) filing for bankruptcy also. :eek:

I have said it before and will say it again. I think we have another cliff to fall off of with the economy before things REALLY start getting better. I think it will take 5+ years before we get back to pre-2006 financial security unfortunately.

No...The economy is not better. Here in California the unemployment rate is 12.2%. Just because the DJI is above 10,000 points doesn't necessarily mean that the economy is better. The GDP(Gross Domestic Product) and consumer spending is supposed to account for 70% of the American economy. Over 11,000,000 in the U.S. as a hole have lost their jobs to various sector. God bless those that can say they have an occupation that will contine to give them a paycheck. When I go in the retail stores I just see people getting their basic essentials. I see some big ticketed items being purchased, but for the most part people are trying to hang on to their pennies. I still see that the rich continue to get the rich and the poor continue to get poor. I'm a big NPR and Public Radio fan. Marketplace.org did a story on Marketplace Money in which they stated that the banks that the Feds bailed out and took over are doing superb. Of coure they are. The Feds bailed them out and CFO and CEO's continue to take billion dollar bonuses at the end of the year after almost coming to the brink of being bankrupt. What a country we have? It has it's pluses and it sure has it's minuses. You bet you the economy is horrible. 1 in 5 household are on the brink foreclosure. Most of those are updside down on their mortgage because the dumb as lenders and banks wrote a blank check. I fault the lender and the buyer. The lender should have disclosed what would happen when that huge double or tripple up payment would go into effect after a certain time. The consumer should have read the contract before signing on the dotted line. There are many people to blame for this economy. Man, I could go on forever. However, I will just stop wrting my book from and economic standpoint. Peace....

Read my post above. Citigroup (Citibank parent) just filed for bankruptcy and they receiver several Billion (yes with a "B") in bailout money and they still filed.

http://finance.yahoo.com/news/Unemployment-rate-hits-102-cnnm-1234085882.html?x=0&sec=topStories&pos=main&asset=6f120fab6ce087f6b223d01683f02b7e&ccode=1
Unemployment rate hits 10.2%, worst since 1983

The nation's unemployment rate rose above 10% for the first time since 1983 in October, a much worse jump than expected as employers continued to trim jobs from payrolls.

The reading, reported by the government Friday, is a sign of the continued weakness in the labor market even though the economy grew in the third quarter following the longest and deepest downturn since the Great Depression.

The government reported that the unemployment rate spiked to 10.2%, up from 9.8% in September. It is the highest that this rate has been since April 1983. Economists had forecast an increase to 9.9%.

There was also a net loss of 190,000 jobs in October, according to the Labor Department, an improvement from a revised estimate of 219,000 job losses in September. However, economists surveyed by Briefing.com had forecast a loss of only 175,000 jobs in October. This was the 22nd straight month of job losses.

"The only good news is the number of layoffs are dropping off, but those who are laid off still aren't finding jobs," said David Wyss, chief economist with Standard & Poor's.

The jump in the unemployment rate was driven up by a large drop in the number of people who describe themselves as self-employed, as well as the number of teenagers who have jobs. The unemployment rate for teenagers in the labor force soared to 27.6%, up 1.8 percentage points and hitting a third straight record high.

Both teen workers and the self-employed are not captured very well in the government's separate survey of employers that is used to calculate the number of people on U.S. payrolls. That explains much of the disconnect between fewer job losses overall and the much worse unemployment rate.

Read my post above. Citigroup (Citibank parent) just filed for bankruptcy and they receiver several Billion (yes with a "B") in bailout money and they still filed.

CIT Group filed for Chapter 11 - Did Citigroup also file or did you get the two mixed up? CIT Group received about $2.3 Billion in TARP funds while Citigroup got closer to $50 Billion if I remember correctly.

Your right. I read the headline quickly and thought it was Citigroup. :o

Thanks for correcting it.

Your right. I read the headline quickly and thought it was Citigroup. :o

Thanks for correcting it.

Ah, OK - still, $2.3 billion of taxpayer money down the tubes is nothing to scoff at.

Ah, OK - still, $2.3 billion of taxpayer money down the tubes is nothing to scoff at.

Like that Senator (can't remember his name) stated a few years ago about how ridiculous the staggering budget numbers are said; "A billion dollars here, a billion dollars there. Pretty soon we are talking about real money". :lol::helpme

Like that Senator (can't remember his name) stated a few years ago about how ridiculous the staggering budget numbers are said; "A billion dollars here, a billion dollars there. Pretty soon we are talking about real money". :lol::helpme

just noticed "the Cable Game" in your sig. Great article,thanks for the link.

Citi-Grope.... I don't know why I said that..somehow or somewhere it just seems to apply.

just noticed "the Cable Game" in your sig. Great article,thanks for the link.

Thanks.

I thought it was a great article and I was always looking for the link to show people they get nothing extra by paying $150.00 for Monster HDMI cables, so I figured by putting it in my sig it would easy to refer to. It has been there for about 2 years now and I actually forgot I had it there. :lol:

No...The economy is not better. Here in California the unemployment rate is 12.2%. Just because the DJI is above 10,000 points doesn't necessarily mean that the economy is better. The GDP(Gross Domestic Product) and consumer spending is supposed to account for 70% of the American economy. Over 11,000,000 in the U.S. as a hole have lost their jobs to various sector. God bless those that can say they have an occupation that will contine to give them a paycheck. When I go in the retail stores I just see people getting their basic essentials. I see some big ticketed items being purchased, but for the most part people are trying to hang on to their pennies. I still see that the rich continue to get the rich and the poor continue to get poor. I'm a big NPR and Public Radio fan. Marketplace.org did a story on Marketplace Money in which they stated that the banks that the Feds bailed out and took over are doing superb. Of coure they are. The Feds bailed them out and CFO and CEO's continue to take billion dollar bonuses at the end of the year after almost coming to the brink of being bankrupt. What a country we have? It has it's pluses and it sure has it's minuses. You bet you the economy is horrible. 1 in 5 household are on the brink foreclosure. Most of those are updside down on their mortgage because the dumb as lenders and banks wrote a blank check. I fault the lender and the buyer. The lender should have disclosed what would happen when that huge double or tripple up payment would go into effect after a certain time. The consumer should have read the contract before signing on the dotted line. There are many people to blame for this economy. Man, I could go on forever. However, I will just stop wrting my book from and economic standpoint. Peace....

people have speculated it'll get better with the nation in general before it gets better in california and for the most part, getting someone to replace Schwarzenegger won't make a difference as California is in a backwards spiral downwards. History has always shown that in California, it takes A LOT longer to recover than the rest of the nation!!

One year has passed. Is the economy better? How long will we walk out of the recession? Any opinion is appreciated.

did you say any opinion? the economy is getting better since inflation hasnt increased in 2009, according to the ss info i just got in mail. inflation is the ONLY thing that hasnt increased.food, taxes,gas,drugs,etc HAS.

No...The economy is not better. Here in California the unemployment rate is 12.2%. Just because the DJI is above 10,000 points doesn't necessarily mean that the economy is better. The GDP(Gross Domestic Product) and consumer spending is supposed to account for 70% of the American economy. Over 11,000,000 in the U.S. as a hole have lost their jobs to various sector. God bless those that can say they have an occupation that will contine to give them a paycheck. When I go in the retail stores I just see people getting their basic essentials. I see some big ticketed items being purchased, but for the most part people are trying to hang on to their pennies. I still see that the rich continue to get the rich and the poor continue to get poor. I'm a big NPR and Public Radio fan. Marketplace.org did a story on Marketplace Money in which they stated that the banks that the Feds bailed out and took over are doing superb. Of coure they are. The Feds bailed them out and CFO and CEO's continue to take billion dollar bonuses at the end of the year after almost coming to the brink of being bankrupt. What a country we have? It has it's pluses and it sure has it's minuses. You bet you the economy is horrible. 1 in 5 household are on the brink foreclosure. Most of those are updside down on their mortgage because the dumb as lenders and banks wrote a blank check. I fault the lender and the buyer. The lender should have disclosed what would happen when that huge double or tripple up payment would go into effect after a certain time. The consumer should have read the contract before signing on the dotted line. There are many people to blame for this economy. Man, I could go on forever. However, I will just stop wrting my book from and economic standpoint. Peace....

it always takes california much slower to recover than the rest of the country....and why is it that us californians always get the shaft when it comes to getting critical government aid in helping to reduce our state debt??

AFAIK, no states get federal aid to "reduce debt". Why should Cali be any different?

In the early 80s Cali was one of the first states out of the peanut farmer president's recession. But the liberal politicians in Cali just spent waaaaayyyyy too much this time around so you will likely be the last out this time.

Kalifornia is never going to make it out on its own. They were sinking long before this current financial deal.

the price of market is too high.