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20 Questions To Ask Anyone Foolish Enough To Believe The Economic Crisis Is Over



May 30, 2011 – Comments (6)

If you listen to Ben Bernanke, Barack Obama and the mainstream media long enough, and if you didn’t know any better, you might be tempted to think that the economic crisis is long gone and that we are in the midst of a burgeoning economic recovery. 

Unfortunately, the truth is that the economic crisis is far from over.  In 2010, more homes were repossessed than ever before, more Americans were on food stamps than ever before and a smaller percentage of American men had jobs than ever before.  The reality is that the United States is an economic basket case and all of these natural disasters certainly are not helping things. 

The Federal Reserve has been printing gigantic piles of money and the U.S. government has been borrowing and spending cash at a dizzying pace in an all-out effort to stabilize things.  They have succeeded for the moment, but our long-term economic problems are worse then ever.  We are still in the middle of a full-blown economic crisis and things are about to get even worse.

If you know someone that is foolish enough to believe that the economic crisis is over and that our economic problems are behind us, just ask that person the following questions...

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[Hope all my neighbours to the south are enjoying the long weekend today as we in Canada did last weekend.]


6 Comments – Post Your Own

#1) On May 30, 2011 at 3:07 PM, MegaEurope (< 20) wrote:

"#9 According to a shocking new survey, 54 percent of Americans believe that a housing recovery is “unlikely” until at least 2014.  So how is the housing industry supposed to improve if so many people are convinced that it will not?"

The point of maximum negative opinion is the best time to buy, by definition.

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#2) On May 30, 2011 at 9:45 PM, Frankydontfailme (29.46) wrote:

54%... slightly bearish (depending on the relative degrees of bearishness versus bullishness). Just saying, just because people are bearish or bullish doesn't affect the price of the asset if the fundamentals are risky. Many more houses will be foreclosed, many more people will be left without jobs and unable to afford a home before it's said and done, and we truly bottom out.


In my opinion.... 

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#3) On May 31, 2011 at 4:54 AM, TMFUltraLong (99.46) wrote:

54%? Great...that means 46 out of 100 people out there are completely blind.... and these people are breeding folks... =)


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#4) On May 31, 2011 at 11:01 AM, sajahmeoli (65.44) wrote:

Just in time for summer--looks like we may well be getting our double-dip. Unfortunately, it won't be ice cream.

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#5) On May 31, 2011 at 11:37 AM, Griffin416 (99.97) wrote:

With interest rates this low, the amount of people refinancing at MUCH lower rates puts tons of money in the pockets of homeowners who are willing to stick it out. People have been using this money to pay down credit card debt. This is part of a consumer driven recovery.

There are two parties to every housing transation, if the cost of housing goes down, how nice is it for people who are buying a home at half the cost, hence reducing their monthly bills.

It is like saying it is bad when stocks go down...that is when you buy. For every loser there is a winner.

Housing cost is the largest portion of peoples budget, if that goes down hooray...if you got a house/ mortgage you couldn't afford in the first place you are an idiot and deserve what is happening.

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#6) On May 31, 2011 at 11:54 AM, miteycasey (29.04) wrote:

I hate articles like this so I'm going to answer all his stupid  questions.

1) The economic crisis is not over, but it's a recovery hence you can't compare numbers today to numbers right before the bust. We are in a net gain of jobs weekly, not losing jobs. That is a positive.

2) The construction jobs will come back when another constrution boom occures. The best this for that, and I hate to say this, is a large Hurrican over Florida. Barring a natural disaster construction will take a long period of time to recover because supply is greater than demand.

3) Skill mismatch. How much education does it take to do construction work? The good no-education jobs (see construction) are gone forever.

4) Because those are just 3 items. I agree with this one. Inflation is a statistic that's manipulated, but other sources show inflation as tame, not just the fedural government.

5) That money will never hit the economy. 

6) Shipments are lower than 2008 for the same reason prices are lower now than in 2008, lower demand.

 7)  Price is cheaper.

8) Since when is the price of one thing a representive of everything? I'm losing weight so America is getting skinner by the day. The supply of houses is greater than the demand ofr houses at current prices.

9) Housing prices will start to grown when demand becomes greater than the supply.

10) Didn't a nuclear disaster occure last quarter? Didn't a record large tsunmai hit? Those numbers are easily explainable in those two sentences.

11) votes. They want to look tough so they win votes in the next election. Then when everyone caves they'll say what they one and if they didn't raise the ceiling the govenment would ahve collapsed.

12) Supply and demand. No one wants to live there, Having lived there about a decand ago it was a hellhole then. The media din't shine a light on it.

13) This is a good question. They'll take care of themsleves. They'll actually have to live within a budget...gasp!

14) Who said 2006 was the norm? That sounds like to beginning of the boom to me, far from a norm.

15) baby boomers retiring? starting their own business? supporting themselves instead of living off the governement t i t?

16) what percentage says it's about the same? It's easy to say people aren't giving the economy a 5, but how many are giving it a 4?

17) how many illegal immigrates have we had that are getting counted?

18) nope. 

19) Easy. They have a printing press. realistically they have housing assests backing them up, for what's that's worth.

20) What do you expect them to say? They want to get re-elected. 




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