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Old 05-29-10, 01:30 AM   #1
Red Baron
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Is US economy getting Better * Hey Cranky Old Dude*

I posted last year during a US visit that I don't find loose change anymore on side of road or anything of value ex=Tools, etc. I'm here in the philippines and I'm amazed that I find NOTHING of value. EXCEPT early this week I found a 10 peso Coin (worth about a quater US). I know C.O.D. posted several good finds last year.
Anyone find anything of value or is it still too early? Or is the economy still bad. All I read about is arizona and the oil well.

BTW its SUMMER Here, 96 day, low to 88 night. I visit US in July.
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Old 05-29-10, 07:08 AM   #2
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I posted a few weeks back - I found a perfectly good Trek 930 Single track that a guy was pulling out for the garbage man to take away, all I had to do was squirt some wd40 in the shifters and put air in the tires to ride it around the block.
Yes - the economy is getting better, but slowly.
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Old 05-29-10, 07:49 AM   #3
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A temporary improvement. Until there's real job growth and more opportunities for young people to join the workforce, it's not looking too promising, IMO.
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Old 05-29-10, 07:59 AM   #4
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We were in CA a couple of months ago. We went to an outlet mall, and I absolutely could not believe the frenzy of purchasing that was going on at that mall in Carlsbad. I don't know if that has any meaning, but I was sort of blown away. Perhaps it is just CA?
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Old 05-29-10, 08:59 AM   #5
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After tightening the belts for around a year, I think a lot of people are experiencing a collective urge to fulfill their pent up shopping urges.

Jan Feb and March had some good retail numbers for department store chains, but April seemed to slacken off, and "headwinds" are in some predictions for the second half.

http://www.marketwatch.com/story/ret...wth-2010-05-24

There's some good things going on, but I'm not sure the spree folks have been on from Nov to March is going to last, with commodities and inflation pushing prices up, and gasoline now taking a toll.

Some folk are definitely doing OK and feeling better about the job market, but others not so:

"From April 2009 to April 2010, 38 states and the District of Columbia recorded unemployment rate increases, 10 states had decreases, and 2 states had no change."

^
The not so good news, buried amongst the selective charts (mostly showing the areas of good news) from the Editor's Desk at the Bureau of Labor Statistics.
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Old 05-29-10, 09:12 AM   #6
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For me, the job market has improved significantly. I just finished a 9.5-month full-time contract, which started as a 3-monther and kept getting extended until the top corporate brass decided to cut down on consultant expenses. I am now teaching 5 1/2 classes per year, up from 1 or 2, and I am involved in two startups (still pre-funded, unfortunately), plus some consulting for two other local companies. (In contrast, I worked a total of 12 days or so during the first half of 209.)

I anticipate that we will continue to bounce along the bottom for the next 5 years or more, with small cycles of boom and bust, pretty much as we did during the first Great Depression. Both Depressions were caused by excessive debt, and we must gradually grow our way out of it.
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Old 05-29-10, 12:58 PM   #7
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I anticipate that we will continue to bounce along the bottom for the next 5 years or more, with small cycles of boom and bust, pretty much as we did during the first Great Depression. Both Depressions were caused by excessive debt, and we must gradually grow our way out of it.
There are significant differences between the global very interrelated economy now and the more independent economy then. Now many of the production facilities and jobs that brought the US back after the last depression have been moved to other countries mainly to increase corporate profitability. Now the world is suffering from rapid population growth that threatens every aspect of life. Then the recovery was fueled to a significant degree by global war that affected nearly everyone.

It is much more likely that the US and other countries will adjust to new economic realities and the political results.
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Old 05-29-10, 03:03 PM   #8
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Not going to get political- but In the UK- we have founded our Economy on the banking and Money markets as our main source of income. This has been to the detriment of Manufacturing and most items sold in the UK are sourced from abroad. Even if it is a British company doing the selling.

With the decline of the Money markets- and we no longer have a manufacturing policy- The UK is in trouble- and will be for a few years.

This is showing up within households and E-Bay is gettting a lot of use for buying and selling household "Junk". Nothing is thrown away if it has any value. Even less is being lost on the road so roadside finds are rare now. And what makes it worse- What you do find is not worth having.

On the ride last week- The new rider found a pair of cycling gloves. Obviously forgotten by a rider after his rest. Or were they--they were so old and unwashed that they smelt a bit. OK wash them but by the time they got home the smell was so bad- that they had to be thrown. Don't know what the previous owner had done to them- but he had a good reason to "Lose" them.
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Old 05-29-10, 03:48 PM   #9
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Well hello Red Baron!

Good timing with this thread...I spied a nice wood stool on my commute home this very morning. It was painted the same green that we use for an accent color on our back porch. I'm not the only who liked it as it was gone by the time I had returned with my truck to fetch it.

The warm weather we've been having has got me to feeling a bit run down, heat does that to me. I had stopped with my bride for lunch this afternoon and during the meal I mentioned to her that I'm contemplating driving to work tonight. She was so suprised that she almost fell out of the booth!

Well, I rode my bike after all and wouldn't you know it...I came across a 5 spd. Ross ladies bike being offered up for free! I spoke with the home owner and she was sweet enough to move the bike over to the side of her house for me. I can retrieve it tomorrow morning after work. I'll edit in a few days with some pics, assuming the bike is actually still there tomorrow!

Don't you just love it when every thing works out so swell?
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Old 05-29-10, 04:03 PM   #10
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Picked up a quarter this morning. I usually spot these loose change when riding towards the sun, the reflection gives it away. My collection for the year
is $0.55.

The economy is still somewhat unstable. New grads this year will probably have rough time finding employment. I expect improvement over late summer just my opinion.

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Old 05-29-10, 04:19 PM   #11
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Not finding more nor less than usual. I bought tires for the car yesterday. There was no waiting, so I guess that kind of buying is still being deferred. This is an oil and gas economy, though. The recession didn't touch us till the rest of the economy was at the low point. Hasn't come back as fast, either.
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Old 05-29-10, 04:37 PM   #12
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We were in CA a couple of months ago. We went to an outlet mall, and I absolutely could not believe the frenzy of purchasing that was going on at that mall in Carlsbad. I don't know if that has any meaning, but I was sort of blown away. Perhaps it is just CA?
Outlet Malls are tourist traps...people on vacation are still spending. We live next to the Desert Hills outlet mall and it never ceases to amaze me all the people there...and there is NO great values to be had. California is dieing a slow death...
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Old 05-29-10, 08:31 PM   #13
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The new International House of Pancakes that opened down the block is SRO most of the time. That must mean something good.
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Old 05-29-10, 08:33 PM   #14
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I would allow that the economy has stabilized or at least does not appear to be getting worse. I don't think there can be real, lasting improvement until there is a regime change. As in vote everyone--EVERYONE--out of office at all levels--everywhere.
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Old 05-29-10, 08:46 PM   #15
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IBTM to P&R.

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Old 05-29-10, 09:11 PM   #16
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IBTM to P&R.

Yep...say good bye.
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Old 05-30-10, 04:53 AM   #17
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So far, it's not real political yet, so I'll leave it here tentatively, as long as it doesn't get real heated.

By the way, Red Baron, my brother lives in Cebu.
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Old 05-30-10, 04:38 PM   #18
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Wow!

What a nice lady! She put the bike inside overnight and then sometime between 06:30 and 07:15 this morning she brought it back outside and left it for me. (I know this because it wasn't there on my way home at 06:30 but it was when I got back with the truck)

Plus, I found a nice end table for the daughter farther along on my commute home.



All right. The table needs a little TLC.



...but the bike is real sweet....







It will clean up quite nicely, I think
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Old 05-31-10, 10:41 AM   #19
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Back to the OP's original question.

To even attempt to understand the current US, and for that matter the world's, economy one has to spend some time studying history. Otherwise, we get caught up in a lot of emotion and political combat that rapidly becomes counterproductive. Assuming of course the question is a serious one and not just something to drive up post count.

Way back when I was taught a tool that I have found to be very useful. That is to always Follow The Money. For example: When purchasing a share of corporate stock on any of the major stock markets the buyer needs to ask: "Who gets my money?". It is commonly thought that the company that originally issued the stock gets the money. It is more accurate to say that the seller of the stock gets the money. The seller in most cases is just another person or investment fund, not the actual company that issued the stock. So, one rapidly understands that the linkage between corporations and the stock market is at most a very flimsy, loose rubber band.

History is important because it reveals that the major financial firms used to be partnerships, not stock issuing companies. One has to ask some questions: "Why did they change?" "What effect has that change had on US and the World economy?"

To keep this tied to the OP's question and not start political rabble rousing I'll stop here. Also, frankly, if any person doesn't have the gumption in this information age to do the research to understand what is being said by our financial leaders there is no hope they will benefit from a discussion here. So spend more time researching economy and less listening to those who would have you blindly follow them. After all, whether more or less, it is your money.
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