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Fed sez we're okay from here on out; recovery gaining traction. . .
Topic Started: Dec 2 2009, 01:44 PM (225 Views)
Big John
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Senior Carp
http://news.yahoo.com/s/ap/20091202/ap_on_bi_go_ec_fi/us_economy

Good to see that consumer confidence has ticked up enough that people used their unemployment to make Black Friday okay.





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Kincaid
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HOLY CARP!!!
Fingers crossed for my 401k and kid's 529 College Savings Plan.
Kincaid - disgusted Republican Partisan since 2006.
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jon-nyc
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Cheers
The market will most likely end the year in positive territory. That was far from obvious last March.
In my defense, I was left unsupervised.
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Axtremus
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HOLY CARP!!!
Vanguard says 60% of 401(k) accounts recovered (i.e., have more money now than in September 2007):

http://www.google.com/hostednews/ap/article/ALeqM5ii19ELvLkDUOSnXzdjKQyQSRnEZwD9CBAH782
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1hp
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Fulla-Carp

Another month, another almost half million new people (ie voters) signing on for unemployment. We're not OK no matter what the Fed says.

There are 10 kinds of people in this world, those that understand binary and................
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Larry
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Mmmmmmm, pie!
Get your money out of the market, buy gold, pay off your mortgage, and hide what you can. It's about to get a lot, lot worse.



Of the Pokatwat Tribe

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Jolly
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Geaux Tigers!
Big John
Dec 2 2009, 01:44 PM
http://news.yahoo.com/s/ap/20091202/ap_on_bi_go_ec_fi/us_economy

Good to see that consumer confidence has ticked up enough that people used their unemployment to make Black Friday okay.
It's amazing what Chrsitmas spirit, bottom-feeder pricing and unemployment checks can do to spur the economy...
The main obstacle to a stable and just world order is the United States.- George Soros
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Big John
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Senior Carp
The "buy gold" people are the ones selling gold. I look for gold to peak and crash next year.

The original thread title was a little tongue-in-cheek. The US job market is in shambles. Stocks are ticking up but I'd guess 30% of the workforce is out of work or severely underemployed. That's why stocks are ticking up. People are getting used to unemployment extensions.

My friends in shipping say that some areas linked to domestic production but not to the stimulus are increasing slightly. I look at certain shipping and brokerage websites as a different kind of barometer of where things are heading. I've decided that the WSJ is more or less a vanity fair for Wall Street and don't pay much attention to it these days.





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jon-nyc
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Cheers
I think gold has quite a bit of play left, despite the froth. Inflation hasn't even gotten started yet.

I could be wrong though.


But we could see some short term pull backs even in a continued secular uptrend. Maybe one of those pullbacks happens next year.
In my defense, I was left unsupervised.
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1hp
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Fulla-Carp

Quote:
 
I could be wrong though.


See, I can agree with jon-nyc sometimes. :sombrero:

I hear a report today that states that the stock market is doing well because companies are reporting fairly good earnings. The problem is that they are producing more with less employees (less costs gives you more profit) - at some point you can't flog them anymore and things fall apart (and then you go into hiring mode).

There are 10 kinds of people in this world, those that understand binary and................
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JBryan
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I am the grey one
I agree with jon on gold. It can still go a lot higher with inflation looming.
"Any man who would make an X rated movie should be forced to take his daughter to see it". - John Wayne


There is a line we cross when we go from "I will believe it when I see it" to "I will see it when I believe it".


Henry II: I marvel at you after all these years. Still like a democratic drawbridge: going down for everybody.

Eleanor: At my age there's not much traffic anymore.

From The Lion in Winter.
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