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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (91125)	12/3/2008 1:32:49 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 116555

With unemployment in California of 8.6%, even with jiggered measures, a 10% unemployment rate is too easy a target. The traditional definition for an economic depression is a decline in GDP of 10% or greater from peak levels. .

To: mishedlo who wrote (91125)	12/3/2008 1:51:25 PM
From: Sr K	2 Recommendations Respond to of 116555

10% is not deep enough, IMO. "Depression" has to refer to the depth and length of the recession. Oil dropping from $147 to $46 rather than staying at $147/bbl has to be factored in. Just imagine if it had gone from $147 to $248. That reminds me. Wagoner, Mullaly, and Nardelli should be asked if their companies hedge their business risk with oil or other energy futures or options. Imagine them hesitating to answer and then revealing that they bought futures above today's spot market. The $34 billion would never pass unless they pass that test.

To: mishedlo who wrote (91125)	12/3/2008 7:30:16 PM
From: roguedolphin	Read Replies (1) \| Respond to of 116555

Government....what a racket!!! I just received a notice from the Assessor of Cook County Illinois that my house property is being assessed for taxation purpose at 10% higher valuation than last year!!! What a crock of $$$hit!!! I've noticed that homes that are quite "cookie cutter" and nearly identical to mine in my neighborhood are listed at asking prices about 33% less in price than they were just 1 or 2 years ago!!! Who knows what they are actually selling for(???). This is WAR.....government is COMPLETELY out of control and out of touch of reality!! I'm certainly appealing this!! Has anyone else appealed their property taxes and had any luck?? This is completely ridiculous! But should I be surprised considering the way things are going??

To: mishedlo who wrote (91125)	12/3/2008 7:34:13 PM
From: dave9	1 Recommendation Respond to of 116555

A depression is any economic downturn where real GDP declines by more than 10 percent. a great depression to be a period of diminished economic output with at least one year where output is 20% below the trend The only problem we have is who's figures we use. I recommend shadow stats. shadowstats.com While jobs have nothing to do with the definition, during the 1929 depression unemployment was 25% and wages fell 42%. You should see what shadow stats says is going on.