OK. The festivities begin. "YOU KNOW" started this new economic thread by stating the following:
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"The controversy regarding the future is my no means confined to apostate Dubs and Jehovah's Witnesses. Many other than "Bible Thumpers" can see big trouble looming just around the next bend. Of course they are ridiculed too by those with opposing views. That's just how it works. Some may enjoy reading the writings of Doug Macintosh. / You Know"
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In a scientific experiment, business or marketing survey, opinion poll or any other serious fact-finding venture, an objective unbiased approach would include, MUST INCLUDE information from more than one solitary source. This is why I posted two additional articles from the same web-site. Now let's begin a brief analysis.
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From the original article in the first post by "YOU KNOW":
"Up here in Oregon the official unemployment rate is 7.5%. In Washington State it's 7.1%. Coming soon to a state near and dear to you. The United States is averaging the loss of 100,000 manufacturing jobs a month. Unemployment claims fluctuate between 350,000 and 500,000 a week-not a month, a week."
Now, examine this information from the US Department of Labor:
“After two months of averaging 400,000 lost jobs, December’s decline was smaller – 124,000 – although still far too many."
This came from the following link:
http://dol.gov/opa/media/press/opa/OPA2002014.htm
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Again, from the first article I quote:
"Eventually, say by May 31st, the system begins to have to deal with all those unemployed people who aren't paying their debt bills. Can they ignore them? Perhaps, for a while, but not for long. The debt crisis is now and will be in full flower this spring and summer."
Notice the author's segway into May 31st, he states "Eventually, say by May 31st". Just like the older publications of the WTBS, he plants the seed of a date in the minds of readers, thus making a picture or image and establishing a concrete date for a future event. This date has not been discussed, publicized, agreed upon by experts or officials, yet it appears magically. No wonder it attracted our friend's attention. Check for yourself and see if all lending institutions around the country are preparing to call all balances due for all loans and credit on May 31. I don't have to comment further.
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Again, more form the first article:
"The decadent left, their media allies and Democratic Party mob bosses are going to keep Enron in the headlines until November 7th. And the result of that constant media barrage will be to create a crisis and thus destroy the Republicans. The above groups are perfectly willing to use Enron for their own goals. Think the economy, consumer confidence or the stock market will do good under those conditions?"
How many scandals can you remember? Let's see, Watergate, Bay of Pigs, Whitewater, etc... The number of economic and political scandals since the Wilson administration is too numerous to mention. While certain scandals may have achieved more dramatic results than others, such as fostering new legislation, public policy changes, the overall affects to the average american have been partially mitigated by the services and support mechanisms in place in municipal, state, and federal government, thanks to the constitution. I could go on with pages of examples, but let's move forward, shall we?
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Finally, he summarizes:
"We have no corporate earnings, rising unemployment, debt defaults and the list goes on and on and on. Yet, the official consensus is magically, mysteriously and instantly on April 1st the American economy will recover. It will not recover. It will not recover by June 1st either. And when the dull, dazed and 401k ravaged hordes finally realize that, oh say by May 31st, I expect a depression to start."
For the first time, AMAZON.com has posted "PRO-FORMA" earnings and showing a profit. If you do not understand, I will explain later.
Also, we have seen unemployment figures have been declining, check the official site for statistics. Now, he predicts a depression by May 31st! On May 31, 2002, the only major global event that is scheduled is the opening ceremonies of the FIFA World Cup Soccer" championship tournament, sponsored for the first time in ASIA. That's right, Korea and Japan have built stadiums, new roads and facilties, despite the forecast from our friends and are preparing for the millions of soccer fanatics from europe, south-america, and elsewhere to arrive and support their national teams. It is the only sporting event larger than the olympics, but shorter duration.
I am tired now, and leaving the rest of this up to everyone else. But you get the gist!