Economy on the upswing?

[Keithh1632]

I was just reading the Daily Record a legal newspaper published on a daily basis and all I see are columns of new bankruptcies, new law suits from creditors and judgements. They say the economy is on the upswing but I wonder. Just an observation to think about.

[feelingnutsy]

What I see are very small pockets of recover---but mainly either
flat or downturns most everywhere else---and you can't convince
me that the economy is recovering---not with the lists you mean-
and the double-digit unemployment rate---which seems the tip of the iceberg.

[bkinparadise]

Started taking one day a month furloughs couple weeks ago. Going to do this for the next 12 months. With pay going down and life essentials going up I can't see how the economy is on the upswing in my world...

[Toby629]

Not in Northeast Ohio! Every week we hear from relatives, and friends of people they know that just got their pink slip. No jobs, people are still losing jobs at numbers we have never seen in our lifetime. Nothing but empty buildings in our area from all the businesses that have closed down or moved out of the area. This is way worse than the recession during the Carter years, which we thought was the worst we would have to experience. There seem to be pockets around the country that may be in better shape, but on the whole this economy is BAD!!!!!!!

[ryan]

There are parts of this country that are actually worse than they were 6 months or a year ago.
The small improvements in a few areas have to be weighed against the large areas where things continue to get worse and worse.

[angles]

A lot of this is smoke and mirrors or an optimistic viewpoint to get the economy spending again. We are 70% of the GPD and when we don’t feel comfortable about spending money then that is not good for the economy. The idea is to get us feeling comfortable about spending money and then the GDP goes up, companies start to hire, we go back to work, and the upward spiral continues.

A friend of mine who is heavily into economics believes we will see a depreciation and then huge inflation. For a long time I did not really believe the deflation will happen but for sure the inflation. Now I can start to see some deflation happening so he may be correct. When this economic mess started there were periods that I thought that we were at a bottom but then 12 months latter we were at a new bottom. I want to think we are there now, but I am starting to question that. I expect foreclosures to skyrocket as the ARM loans mature and this will continue to keep employment low for everyone. We have AIG, Goldman Sachs, and the banks to thank for guiding us into this situation.

[feelingnutsy]

Hey---angles---I totally agree---and the fact that there are such conflicting
headlines and news stories---like stock market is up on new house sales--and
then I turn right around and read that said sales are still slow---and an even
further downward spiral may like hit even recovering areas next year--sheesh.