SWP's back
Well-Known Member
- Joined
- 29 Jun 2009
- Messages
- 88,910
Look fella, this is now my area of expertise and you don't know what you are talking about. The US has lost it's AAA with 1 of the 3 credit ratings agencies. This was not due to their inability to pay and everything to do with petty squabbling in the senate. In fact since the downgrade, yields on US bonds has fallen (a default risk would see them increase) as investors have ploughed into US gilts due to market volatility.bluetoo said:SWP's back said:Hmmm, still doesn't make it a recession and unemployment is falling.bluetoo said:I would say theres about 5 million home owners whose house prices have crashed through the floor and hundreds of thousands of small businesses who have gone to the wall might disagree with you. I would also suggest the ever increasing length of the dole queues are an indicating factor that something is amiss also. Usually its a good indicator that the economy isnt doing too well when people latch onto the flimsiest of excuses to take to the streets for a bit of good old fashioned looting....oh wait..
Just admit, you used the word without knowing what it meant. We are not in a recession and haven't been for 20 months.
I didnt say the UK was in a recession...you assumed I did. What we are seeing though is the ramifications of a global recession that has affected us all. I maintain it has been brought about by greed. The USA has lost its triple A credit rating for the first time. That bears huge significance to all of us. China are now holding their hand out expecting to be paid and the consequences of that will be felt far and wide.
Do not try and bluff your way around a very complex issue that you are not qualified to lecture on. If you would a very good 7 page Market commentary on the current situation, pm me your email address and I shall send you the one my company produced on Monday that looks into the sort of things you are talking about. I've already done so for a few of the posters on here that needed some advice during volatile times.
As for me thinking you were talking about the UK, you mentioned the UK housing and employment markets so it is only reasonable that I should think you we're talking about the UK especially when I said we werent in recession and you said "tell that to the..." The fact you changed the goal posts when you looked into it and saw we are NOT in a recession is not my fault.