Down it Goes!!!

[bballbaby]

So i just heard on CNN that in 2008 Q4 the US economy shrank by 6.2%

6.2% !!!!!!!!

My question is why did they wait for nearly 2 months to tell us the truth? They have been saying all along that it only shrank by 3.8% and now they tell us the truth.

It also makes me wonder why they waited an ENTIRE YEAR to tell us we were in a recession. For weeks back in December they told us that Q$ of 08 was going to start a recession, then at the beginning of the year or so, they tell us it actually started in 2007 Q4.

WTF?!?! Apprantely they think we are idiots. :angeryell

It makes me wonder what the real unemployent numbers are. 6% is probably closer to 12%.

Also makes me wonder what's really going on out at Area 51.


Sorry, just a little rant. Our gov't is screwing us all...one by one...slowly.

Oh, and the DOW...I bet it plumits today.

New unemployment numbers from LAST WEEK ALONE were over 660,000. Yep, you read that right, 660,000. last week. February's totals numbers are gonna be around 2 million lost jobs. So much for the new jobs obama just created.

 

[Soundwave13]

Hear, hear!

 

[cvm4]

For a recession, there has to be 2 negative quarters of GDP. That being said, it can be revised like they did to show we've been in a recession for a year now. You can only estimate these numbers and not really know the total until a month or two later. That 3.8% was an ESTIMATE and not a hard number. And these are LAGGING indicators, meaning the economy could start to turn around before GDP/Unemployment/etc. numbers catch up.

 

[Mitch]

Buyers market on cigars though, seeing all kinds of estate sales right now. It's crazy out there.