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Originally posted by onetime2
Oh so now there's a "real world" economy. I'd better let the Fed know. Here they thought they were capturing the economy by measuring GDP, foolish them.
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Thanks for the flame.
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It's certainly not the President's fault that you chose the wrong profession.
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What?? Way to bring the conversation to a personal level. Yeah, that's really convincing. Nice flame there.
When did I even bring up the President in this thread?
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That's why they're spending their money. That's why they're buying new houses and new cars and investing in the stock market.
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It's possible that they're doing that because interest rates are low. See this article; personal debt is on the rise; according to the article
http://www.ohio.com/mld/ohio/business/6959927.htm
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U.S. consumer debt expanded in August as Americans took out loans for cars and tapped credit cards for more cash while mortgage refinancing slowed, Federal Reserve statistics showed.
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If you've read the Bloomberg article on the same subject, you'd know that they're blaming the growth in the economy on an increase in consumer credit, among other things. It has to be paid back sometime... perhaps we
the vast unwashed can now get jobs as loan managers -since that's where the economy is picking up.