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70% of GDP Linked to Comsumer Spending.......
Old 02-06-2009, 08:06 AM   #1
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70% of GDP Linked to Comsumer Spending.......

On PBS last night, they had a panel of local investment folks, including an economics professor from Marquette and a few others. They were talking about the economy of course. The professor presented a few interesting facts:

1)70% of the US GDP can be tied directly to consumer spending.

2)The retail sector as a whole was only down 3 PERCENT in 2008 versus 2007, yet many in that industry are filing bankruptcy.

3) He predicted an unemployment rate bottoming out at 9 percent.......

4)He thought "recovery" would be in 2010, and that 2009 will have further erosion in the economy........

What a cheery guy........

Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)

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Old 02-06-2009, 08:09 AM   #2
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Retail is often a very low-margin operation. It doesn't take too much of a drop in sales to put some in dire straits.

I hate feeding the "hoard-the-cash" beast that leads to this economic death spiral, but with the single point of failure that is my paycheck, I have to be a lot more careful than I'd otherwise be. At least my megacorp just reported a very strong quarter; that helps a bit...

"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 02-06-2009, 08:15 AM   #3
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Hey, I'm just glad the doomster's do see a recovery at some point. You still see a few that say we are at the beginning of a depression.

Enough of this........time to get ready for golf.
Full time wuss............
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Old 02-06-2009, 08:15 AM   #4
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Originally Posted by FinanceDude View Post
3) He predicted an unemployment rate bottoming out at 9 percent.......
As in maximum or minimum?
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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