On a scale of 1-10 how bad is our current situation?

[HedgefundTrader2]

Quote from MrDODGE:

1 would be a great booming economy
10 would be absolute disaster


I rate our current situation a 5.

\


Stop this doom and gloom. There is no need to feel miserable. You donot need this. Here are some facts and figures, empirical data that you can cooly intake and take a deep breathe:

"At 0.6% growth, the report on fourth-quarter gross domestic product was not revised higher from a preliminary estimate, as some economists were expecting. Bear Stearns chief U.S. economist John Ryding noted that only strong trade numbers prevented the economy from shrinking, as domestic demand fell 0.3%.

U.S. initial jobless claims rose 19,000 last week to 373,000, and the prior week's claims were revised 6,000 higher. The increase in claims raises "some red flags on the economy, though the levels still aren't in the 400,000 recessionary area," Action Economics says."

 

[omegapoint]

Look at a chart of the S&P back in 2002 2003 and compare it to where we're at today ...no comparison -- if we reach those lows then feel that pain.

 

[btowntrader54]

either way there's plenty of profit to be made.

we're blessed the market is moving one way, the other, and both instead of sitting still.

 

[G-Boa]

Quote from day7793:

Why don't you just drive off a cliff this weekend?

I know there is some nice back country out there. Just find a nice sharp cliff, race your motor and you will be flying.... everything will be alright.

Although this dude's attitude closely resembles that of a twat, he is the funniest guy on ET!!

 

[jeffalvinson]

About 7 or 8.

Look at the attached 10 year chart of the S&P500 with monthly candles and the 20ma.
When the S&P had its first monthly candle close below its rising
20 month moving average in January 2008, it was potentially the beginning of the end for stocks.
Notice that when this occurred in Nov 2000, a bear market ensued for 31 months.

 

[Businessman]

The USD currency situation.

On a scale of

1= Gold

10= Toilet paper


I think we are at 7. The end game has started.

 

[drsteph]

Quote from 1Reason:

I would give us a 3 as for the most part things are good overall. employment is high and soup kitchens are not running dry.

What worries me is the heros in DC have already put us on a path that we currently spend over 11% of our budget on interest payments for debt.

This number is going up and there is no talk about lowering the deficit in any meanful way. All I hear is 'free' health care or hanging out in those death sand boxes on the other side of the rock.

Baby boomers are about to massively collect SS and the income from the to the governemtn will lower at the same time.

Medicare costs are going to explode beyond anyones imagination (unless of course you buy into the government numbers and that it will be containable)

I dont feel anyone in DC has real answers to the real problems and that the three card monty will not be able to continue

Beg to differ:

1. Soup kitchens going begging for food at these prices. (on a side note, if you need to donate money/food somewhere, please consider your neighborhood food bank.)

2. Medicare reimbursement will be cut proportionate to the number eligible. Zero sum tagged to CPI or money supply. No change. Physicians stop taking new medicare patients.

3. SS collections, alas, we can't get out of. But that's not really a problem until 2030.

Sorry to ask this but what the heck is a 'death sand box'?

 

[turkeyneck]

Why there's no 11?

 

[bat1]

1

5

10:eek:

i say 6 and 3/10

 

[Anekdoten]

Probably close to a 10 but market only thinks it's a 7.

Anek