Summer of recovery 2010
Vice President Biden says this is the summer of recovery while Obama says we need to extend un-employment benefits for the 8th time. If this is the summer of recovery,why extend benefits? Things are looking up and who needs more unemployment payments with all these new jobs? Which is it?
In full effect
Side Score: 1
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stalled and falling back
Side Score: 9
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1
point
I suppose this is a matter of perspectives. On the one hand, many companies are making record profits (even GM is in the green). S&P;'s index was up 7% for July. The problem is that many companies have grown comfortable with the current state of affairs--by squeezing labor costs, they're boosting profits and arming themselves with leverage to bully existing employees. I was reading an article about Harley Davidson, where employers threatened to leave the country if the unions didn't concede ground on certain working issues. Right now is a good time for shareholders and a bad time for laborers. So, my bottom line: full effect? No, hardly. Stalled? Eh. I mean, it took Reagan 3 years to get out of a much smaller recession, and during that period unemployment hovered over 10%. I think we'll have to wait and see. Side: In full effect
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2
points
2
points
For the recovery to take place in 2010,unemployment will have to drop, consumer confidence will have to increase, and housing sales will have to pick up. I do not see all three of these things happening, therefore, I predict that the recession will last through 2011. Side: stalled and falling back
1
point
Unless you are a goverment worker,this is a summer of no recovery. Side: stalled and falling back
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