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Any light in that tunnel?

December 3, 2008

Private employers are slashing jobs and the services sector, which powers most of the economy, is in its worst slump ever. “It’s impossible to find any ray of light here,” Joel Prakken, chairman of Macroeconomic Advisers in St. Louis, Missouri, said of the job losses last month.

With the government working to bail out banks, and possibly automakers, and with a top adviser to President-elect Barack Obama underscoring the need for an economic stimulus package, do you think things will get better and when?


I think the economy will turn around as soon as the media finds something else to dwell on.

Posted by cynan | Report as abusive

With Interest rates nosediving into the dirt, it is time the big banks and credit card companies did their bit. Cut the rates or face the real cost. Personal bankruptcy is increasing and employment falling. It would be better to stave off defaults by the millions by cutting the rates than ask high interest rates and see high defaults. The choice is yours and the economy awaits your reply. .

Posted by Janet | Report as abusive

benefit of Reagan,Bush & Republican trickle down economy & war because of them we are in such a misery.

Posted by solomon | Report as abusive

First, we need to forget about power and greed and learn to be humble again. If we are smart, everybody on this planet can actually benefit and learn a lesson from this economic crisis. The people who really run our country (who ever they are) should be less concerned about controlling the World and more concerned about real people and humanity.
Without us, it will be a very lonely world.
Use all the Government Bailout money on the American manufacturing industry. The manufacturing industry is America’s Catch 22. It is all a cycle necessary to keep the economy going. Put caps on CEO salaries and give the money and benefits back to the workers and the unions.
Life is too short to worry about controlling the World, who is the richest or who has the most “stuff”.
Why bail out banks? The banks foolish enough to loan money to people with no jobs who could not pay them back deserve to go broke.
Greed :(
All the construction workers and home builders need to go to work on bridges and other structures in need of repair. Structures that have not been touched since the first Depression in the 1930′s.
Greed is a deadly sin and until we have the ability to see our flaws, change our ways, and take care of our planet and the life living here, we are doomed.
Are we really stupid enough to kill each other and nuke countries and destroy our beautiful Earth and then stand alone in a nuclear winter and wonder what happened. Wake Up People!

Posted by Kim | Report as abusive

Things will get better when we have a new vision of what “better” is. Right now, we seem to be defining “better” as something that we used to have but cannot seem to access any more. Individually and collectively, we need to let go of nostalgia of what was and embrace the challenges of what will be.

Posted by Beekeeper | Report as abusive

The economy will begin stabilize once a substantially larger stimulus than the one under consideration by Congress moves forward. This stimulus should be much larger in terms of GDP than the Manhattan Project of World War II. Conservation of resources should be the central focus regardless of plan specifics. In order for it’s success to be enduring, the investment must be directed heavily into green energy infrastructure and energy independence.

Posted by Anubis | Report as abusive

Things will stabilize in the 2nd quarter of 2009, and head up in the 4th quarter of ’09 or 1st quarter of ’10.

Posted by Barry | Report as abusive

I think this will be one of the longest recessions America will ever see. Our economy was based on lies and greed. Now it’s time to pay the piper. The problem is that our wealthiest, greediest Americans have and will contiue to count their money while the rest pay for their sins.

Posted by David | Report as abusive

Sorry folks, all the comments so far miss the boat entirely.

This is an orchestrated event, propelling along at a predetermined pace, and coming together quite nicely if you look at the from the perpetrators point.

When will the clouds lift? When America’s people are homeless, hungry and cold, living under Martial Law and begging for a New World Order consolidation offered by the Fed, the IMF and our government – all in order to “save you,” of course.

Wake up – you are being played and unless we come together against the powers that want us dead or submissive, we will lose your country and freedoms along the way. Sound familiar? Our Founding Fathers would think so.

Keep your powder dry.

Posted by Dave | Report as abusive

When will things get better? How good were they to begin with? Yes, people were working but many were working longer hours then ever all the while attached 24/7 to their computers, their mobile phones and their blackberry’s. We are working to pay for all the stuff that we were told to buy in order to be happier…our homes with the bigger mortgages, all the stuff inside, our vacations, new cars, etc.

Our lives were brought to us by the credit explosion. The amount of credit is astounding at every level. Personal debt, government debt at every level. Just a half century ago or less no one would ever advise people to take on the credit we have. We used to be told to pay off our mortgages and pay for things we can afford. The banks went out and pushed their mortgages, home lines of credit and credit cards. People have no quality of life. Parents are too busy working to spend adequate time with their children. So how good is that?

I think this is an opportunity to reprioritize. It’s back to basics. Government needs to get smarter. Money needs to go to infrasrtucture, new age manufacturing of things that the world really needs…alternative energy for example.

Ok so when will things get better? Looking into my crytal ball the financial markets will have hit their bottom by latest September of 2009. Things will start to improve in 2011 after a great deal of work done in 2010!


You can bet on your bingle berry rates are going down(not) I got a letter yesterday in the mail wanting me to borrow money at 7.5% the way times are and how tight money is, do they think I would.Thats to high at todays standards.


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