Thread: The strongest economy in the world
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Old 08-03-2008, 04:54 PM   #569 (permalink)
Milkman
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The article lists specific actions taken to buffer the economy. Especially the "Helicopter" moves. How many times has the Fed and US gov done this? I've lost count.

Important to note, is that although there has bee economic expansion and increased worker productivity, wages have not only stagnated since 1999, but have actually declined in the long run.

Quote:
If history is a guide, the recession of 2008 is now unavoidable.
The dismal jobs report released Friday showed overall employment to be lower than it was three months ago. Every time such a slump has occurred since the early 1970s, a recession has followed — or was already under way.
And if the good times have really ended, they were never that good to begin with. Most American households are still not earning as much annually as they did in 1999, once inflation is taken into account. Since the Census Bureau began keeping records in the 1960s, a prolonged expansion has never ended without household income having set a record.
Link: Business & Technology | Bad news piles up, points to recession | Seattle Times Newspaper
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