Merrill Lynch: "We're In A Recession"

[RIROCKHOUND]

good thing you have that side business as a man-whore for elderly women....

I think the economy is unfortunately not front page (like Iraq) b/c of the primary popularity contest that really doesn't cover issues. Ben, I really dont think a lot of people think about all of the aforementioned factors... except the guys who are planning retirement in my department, I know they watch the market daily and decide if they want to work another year or not!!!

Originally Posted by Nebe

If your in the middle class, YOU are in a recession. If your in the lower class making less money and own a house right now, YOU are probably in a depression..

I really dont give too hoots how the stock market is doing when i look at the economy to guage how i feel MY business will do in the upcoming months.. High oil prices, high food prices, paired with many in a mortgage crunch will mean to ME that my business will not thrive anytime soon.

I would like to see the figures of personal debt and personal savings.. how many 'normal average income' people are able to save 1/4 of their income in todays economy?? not as many as a few years ago..

there is Nebe's view on things..

[fishpoopoo]

Originally Posted by RIROCKHOUND

...I really dont think a lot of people think about all of the aforementioned factors... except the guys who are planning retirement in my department, I know they watch the market daily and decide if they want to work another year or not!!!

i guess it goes to financial literacy all around. the stock market is boring, but it is also considered a leading indicator as to how the economy is performing.

the market has been anticipating a recession for some time. housing and financials getting whacked from subprime, industrials getting whacked, sector rotation into consumer staples and utilities (which tend to weather recessions okay). the market provides clues.

[RIROCKHOUND]

Originally Posted by fishpoopoo

i guess it goes to financial literacy all around.

Hey count me in as well among the financial illiterates. what I know about financial/economic voodoo wouldn't fit in a shoe... but I try to usually know what oil is +/- a few bucks a barrel and the stock market +/- 500points or so. One is steadily going up, one is steadily going down... that cant be good....