On Mon, 4 Aug 2008 11:59:53 -0400, T >
wrote:


>Wow, you're pretty optimistic.
Yes I am. I have been thru rough times before and it always improves.
Think Carter years.
>
>The economy as a whole is screwed. If you hadn't noticed the
>unemployment rate is being reported as 5.7% or so which in reality
>translates to 2 to 3 times that number since that particular statistic
>only records NEW filings.
Full employment definition from the Dems is 6%. Illegal's make up
about 5% of the work force, and the bad economy is forcing them to
leave.
>
>Then of course there are the energy prices. Unless you've been hiding
>under a rock, you can't have missed that your electric rates probably
>went up by about 20% and gasoline and oil have gone stratospheric.
Yes your right, but as you can see, the restriction on off shore
drilling, will be lifted, and more oil will flow.

>Energy costs impact food costs.

Wheat supply's are at record high levels, corn prices are high because
of govt. mandated etoh.

>
>Communities are crumbling because of the mortgage crisis.>
Less the 1% of home are in default.

>And people still believe we're just heading into a recession. I have
>news for you, we're heading into a depression but nobody wants to say it
>because of the panic it would cause. We've now seen 8 bank failures in
>the last two weeks which is interesting in itself. I predict that BofA
>will be the first big bank to fail.

No sign of recession much less a depression. The growth rate is at a
low rate of 2% , but it is growth.