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Gamakatsu

The Great Recession of 2001

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2001-2002 was extremely rough on my industry and to be honest anybody in almost any type of manufacturing was hurting big time during that period. I know the place i work at was pushed to the brink. We had vendors walking in offering machines that 6-12 months prior were 100K and offer them up for 25K.

 

It was a bad time IMO and so far IMO it was worse than what we currently are in. I do however think things this time around will eventually get much worse than the 2001 recession but we're not there yet. We got a ways to go down.icon13.gif

 

John

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Stocks were crumbling for many `like air' Internet companies but I made some good money that year selling Acuras.... lots of buyers in the Boston area then.

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View Post2001-2002 was extremely rough on my industry and to be honest anybody in almost any type of manufacturing was hurting big time during that period. I know the place i work at was pushed to the brink. We had vendors walking in offering machines that 6-12 months prior were 100K and offer them up for 25K.

 

It was a bad time IMO and so far IMO it was worse than what we currently are in. I do however think things this time around will eventually get much worse than the 2001 recession but we're not there yet. We got a ways to go down.icon13.gif

 

John

 

2001-2002 was a different time than I'm referring to. Everybody got hurt after 9/11. However, this is far worse than then and will probably last much longer, no matter where you look just about every indicator would say so.

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Did you forget the computer/internet bubble bursting after 9/11 and prior to it?

 

I didn't. I was in the middle of it. The company I worked for went from booming to bust.

 

Glad your business was OK and you happened to gloss over it.

 

Some folks should kiss Bush's arse for holding it together as well as he did after 9/11. At least he did something that turned the worst of times into something palatible. And he didn't WHINE about it.

 

This blame game is getting tiresome and old. Obama crying about his inheritance, which he knew of going into the election and was an active participant in the vote, or not by voting present. He got elected because of it. Crying and lying that its the worst since the depression, left for him in a bow, what a wanker, when the Carter admin left a worse economy than we are in right now. He's an embarrassment and a liar. Stop the excuses already and trying to shift attention from what is obviously a flawed President whiner. He was hired to do a job so he should do it or get the heck out of the way. Instead he is pushing an agenda that will prolong it.

 

You didn't hear Reagan cry did you. He was can do. Grow some balls already.

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This blame game is getting tiresome and old.

 

You're relatively new, but it was 8 years of but, but, but Clinton on this forum and when politics was in the Tavern. Everything was Clinton's fault until about a year ago when it subsided a bit.

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No comparison to 2001 and now, now effects everyone, now effects the entire web of consumers, bankers, investors, our retirement. Now is not defined by an industry-like high tech, Now is not regionally like the silicon valley, northwest, new england in 2001. Now has depreciated our homes.

 

and worse Now is global, china's economy is also receding. keep in mind china has been growing every month of every qtr of year, for the past 15 years.

 

Our economy right now is an inflated balloon and only a pin prick away from disaster- long term recession.

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View PostDid you forget the computer/internet bubble bursting after 9/11 and prior to it?

 

I didn't. I was in the middle of it. The company I worked for went from booming to bust.

 

Glad your business was OK and you happened to gloss over it.

 

Some folks should kiss Bush's arse for holding it together as well as he did after 9/11. At least he did something that turned the worst of times into something palatible. And he didn't WHINE about it.

 

This blame game is getting tiresome and old. Obama crying about his inheritance, which he knew of going into the election and was an active participant in the vote, or not by voting present. He got elected because of it. Crying and lying that its the worst since the depression, left for him in a bow, what a wanker, when the Carter admin left a worse economy than we are in right now. He's an embarrassment and a liar. Stop the excuses already and trying to shift attention from what is obviously a flawed President whiner. He was hired to do a job so he should do it or get the heck out of the way. Instead he is pushing an agenda that will prolong it.

 

You didn't hear Reagan cry did you. He was can do. Grow some balls already.

 

 

 

I say its all you anti Obama`s who are the wanking whiners. The guy has been in office for what, 4 weeks, and all the haters here complain about everything he does. Thats just unAmerican imo.

 

waaah.gif

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View PostYou're relatively new, but it was 8 years of but, but, but Clinton on this forum and when politics was in the Tavern. Everything was Clinton's fault until about a year ago when it subsided a bit.

 

Thing is, I remember Republicans and talk radio about inheritance of a recession, not the President himself. If the forum was saying it, that is in the same vein.

 

For the President to say it, is another thing entirely. Its a completely different level. You can't run for President talking on how you can fix the debt and economy, win, and then complain that you had this deficit dropped in your lap. And then to simply add to that campaigned deficit in a wild, unregulated, partisan, agenda driven manner?

How stupid does he take the US citizen for? As it looks like he's getting away with it, pretty stupid I suppose.

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