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National and Global, United States

Wednesday, August 12, 2009

Recessionary Pressure Observations

Some observations from 1933...all over again.
I think things are looking up! Recessions and depressions actually have a beginning..and therefore an end. There's the bit of time in between that worries me most. What Depression are we talking about anyway? In my mind we have no depression, but I will admit that we are having the worst boom in many years.

Prosperity is when people buy things they can't afford; recession is when they stop doing it.

Surely the ability to get laughter out of trivial things, under miserable conditions, is not an entirely worthless result of the depression.
I have little hope of getting started again in my former business,
so I can have the thrill of planning my future all over again.

When you're in a pit, the first thing to do is to stop digging.

These economic downturns are very difficult to predict,
but sophisticated econometric modeling houses like Data Resources and Chase Econometrics have successfully predicted 14 of the last 3 recessions

When written in Chinese, the word "crisis" is composed of two characters.
One represents danger, and the other represents opportunity. I just don't know 'which is which'.

"Summing up, it is clear the future holds great opportunities. It also holds pitfalls. The trick will be to avoid the pitfalls, seize the opportunities, and get back home by six o'clock." Woody Allen

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