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• Wednesday, April 2, 2008 02:02 PM

  I agree Al Jackson

  Al,

  just read your posts and I completely agree with you. With a 4.5% unemployment rate, how is it we are in a recession. The last recession was 24% unemployment and the one before that was 33% unemployment.

  I have seen other posts about how bad the society is, yada, yada, yada, and bottom line is there are ALWAYS issues with the economy, no matter which country or how well it is doing financially. It is a part of life and some people would say the economy was aweful even when we were in our huge economic boom..It's unfortunate, but that happens. However, these articles make people freak out and to not spend there money on fruvalous things. Sorry folks, the petty items that we buy is what makes the economy strong. If we don't buy a new car because we are worried about the economy, car dealers, car makers, and employees are all effected by it. And in turn, there are layoffs due to no money coming in, then those people who were laid off no longer spend money on things like TV's or CD's. So on and so fourth, and that is how you get in to a recession. We as a country may not be booming with new technology or new ideas, but we are stable, money is still being spent, and last time I checked the stock market is still higher then it was in 2000.

  Again, we may not be as strong as we were last year, but the economy is still moving forward and people shouldn't worry as much as they are. The worrying puts us into a recession because we worry about spending money. And for those who think we will be in a depression and to tell us, we told you so, don't count on it. Most of the country is victim to the housing prices and land sky rocketing out of control and banks giving out loans that are extremely unrealistic to ever be paid off. Once this society gets through this, we should be fine. It will be a stinger on somes credit and a stinger to banks, but the society can and will bounce back from that.

  —jbone54 Read jbone54's other letters
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