Fed: Economy darkens before holidays

I don't think that we will ever recover from this recession. As it stands, all our businesses will be gone is six months. We will all be out of work. Our houses will all be in foreclosure. Food will be scarce. We're essentially heading back to pre-historic times.

Hmm, I wonder if I could get a job as a news reporter with just a gloomy outlook? It sure is the best of times to be a news reporter.

Each time a bubble bursts there is a necessary contraction. Usually during the contraction the rich actually get richer. I'm wondering if this time is different and if during this contraction it will be necessary for it to hit the very rich hardest and longest before there can be a actual recovery.

No matter what the government does, the middle class and lower class by withholding their spending during this bubble burst are showing that enough is enough and the powers that be can't merely pass this all down to us while the rich are bailed out.

No matter what the government does; the rich must pay for their greed this time or we will be in for more than just an economic crisis. The stage has been set nicely by the political call for CHANGE! This time the stage has been set fora very angry electorate, a very angry working class, a very angry society, very tired of being taken advantage of by a system that actively and purposefully sets and establishes priorities and laws that favor the few at the expense of the many, often through very powerful lobbyists and campign contributions.

I share the economic concerns of the nation. However, I am perplexed that each time I have visited an airport or theme park this year it has been crowded. And shopping in New York City on Black Friday?!- no sign of economic downturn there, it was elbow to elbow! Not to mention my local mall, the parking lot is always full when I pass by. I'm beginning to wonder if the media is brainwashing us to believe it is worse than it is.

Sales traffic was up a little bit but retailers had to discount so much, that the bottom line will still be a dismal figure.

Example:

If I owe someone $500.00 and I have 100 trinketsfor sale at $5.00 a piece (total projected sale $500.00) but nobody buys them and so I must reduce the price by half to $2.50 and then sale them all...I will still be $250.00 short.

Lots of traffic but it is misleading.

That is essentially what is happening this holiday sales season.

So what if they cut the Fed interest rate?  How about cutting home mortgage rates?  They're still not where they were 5 years ago. 

So what is up with the over-exuberant Dow the past few days in spite of job numbers, deep discounts at retailers, all US governors asking for bailout money, etc.?  People just buying up $1. auto stocks betting on the auto industry bail out???

Waiting for reality to merge with economic indicators.

The Federal Reserve's new snapshot of business conditions nationwide, released Wednesday, suggested the economy was sinking deeper into recession.

Can't tell it by the way the market is going.

There is got to be some serious market manipulation going on. Surely that many investors can't be blind to the economic conditions.

What can we believe?  The stock market goes up and down, people are still out shopping, stores and malls are crowded.  People are still dining out.  Is there a way we can truly tell how bad it will get?

I would say something worth posting, but I have been drinking. Quite a bit actually. So there you have it.

I can't believe that most of the above comments relate directly to what I am thinking and believing.... the riverboat casinos are jam packed, I can't find a parking spot many of the times I have gone shopping and the market seems to be manipulated in the last half hour or each trading day (up all day only to crash in the last half hour of the day?). 

I think too many people have bought into the panic of our economic times and have sold their stock at unrealistically low prices.  This locked in their loss and made it even easier for the "rich" to buy these stocks which they will hold until the economy recovers and sell at two or three times (or more) than what they bought them for.

My pen name says it all --- "Tired of Sensationalism" that the media justifies it's existance with.