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Originally Posted by xoxoxoBruce
Also a report on the news yesterday that defaults on loans, credit cards, and mortgages is steadily dropping a significant amount.
I know people who weren't hit nearly as bad by this recession as many were. They were working, paying their bills, with no wolves at the door. Sure their house was worth less, but they weren't planning on selling or borrowing against it anyway, so it only made a difference on paper, not lifestyle. Their stocks dropped in value, but most have come back.
But in the constant barrage of 24 hour news, virtually every news story included the tag line, "in this economy". Plus the political campaign is telling us doom & gloom is the order of the day. So even these people that skated fairly well through it all, talk constantly how bad things are.
The recession will be over when the public perceives it to be over, regardless of the unemployment rate.
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Another well spoken post. The recession *is* over, our economy has stopped receding some time ago. We're in a depression, a depressed economy now, but no one wants to call it that either.
Actually, xoB, you understate your point which is self-evident. It's so true that it defies refutation. You sound like you're channeling
FDR:
Quote:
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Men are not prisoners of fate, but only prisoners of their own minds.
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among others
