# \*\*\*Economy thread\*\*\* **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [November 25, 2008, 9:01am UTC](https://forums.speedlife.net/t/economy-thread/58733 "2008-11-25T09:01:10Z")\ **Posts on this page:** 19\ **Page:** 5
**Author:** ![Avatar](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/avatar/32/5076_2.png) [@Avatar](https://forums.speedlife.net/u/Avatar)\ **Post date:** [December 5, 2008, 10:59am UTC](https://forums.speedlife.net/t/economy-thread/58733/81 "2008-12-05T10:59:56Z")
> [@Paulo](#): > > Either way, I’ll be applying for jobs outside of the US/Canada to see what’s out there. > . Dubai? I wouldn’t be that anxious of the US economy. It will persevere. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 5, 2008, 11:00am UTC](https://forums.speedlife.net/t/economy-thread/58733/82 "2008-12-05T11:00:08Z")
lol you should have just given him back his plate. Did he ever get it back? ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [December 5, 2008, 11:12am UTC](https://forums.speedlife.net/t/economy-thread/58733/83 "2008-12-05T11:12:18Z")
> [@Fry](#): > > Unemployment rate since 1948. It almost looks cyclical doesn’t it? > [http://www.bls.gov/data/#unemployment](http://www.bls.gov/data/#unemployment) which unemployment figure us that graph? Does it account for the changes in calculations over the years? When you assume something can never end, that is usually when you risk allowing it to end. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 5, 2008, 11:18am UTC](https://forums.speedlife.net/t/economy-thread/58733/84 "2008-12-05T11:18:16Z")
U3 > Unemployment Defined > The official definition of unemployment used by the BLS includes anyone age 16 or older who is not institutionalized and is not currently employed, but able to work, available for work, and actively seeking work. Unemployment is sometimes thought to include only those individuals who are drawing unemployment insurance benefits. However, many outside this group are considered to be unemployed. Examples include those who have exhausted unemployment benefits but continue to seek work, new labor market entrants – including recent high school and college graduates – and those who are not covered by unemployment insurance, such as the formerly self-employed. > The official definition of unemployment also excludes certain groups who are sometimes thought of as being unemployed or “underemployed.” Those who would like to work, but who have stopped looking for work – so-called discouraged workers – are not counted in the official definition because they are not actively seeking work. People working part time who would prefer full-time work are also not counted as unemployed because they are working – albeit fewer hours than they would like. Finally, those who are not employed (i.e., did work for pay or profit) and do not fit the above definition of unemployed are classified as “not in the labor force.” ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 10, 2008, 9:13am UTC](https://forums.speedlife.net/t/economy-thread/58733/85 "2008-12-10T09:13:32Z")
More bad news… [http://www.wgrz.com/news/local/story.aspx?storyid=62717&catid=37](http://www.wgrz.com/news/local/story.aspx?storyid=62717&catid=37) It seems everyday there are more jobs cut. We have been “OK” so far thanks to some military orders coming in.:snky: ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [December 10, 2008, 12:39pm UTC](https://forums.speedlife.net/t/economy-thread/58733/86 "2008-12-10T12:39:19Z")
I didn’t even realize buffalo had any remnants of the steel industry remaining. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 11, 2008, 6:08am UTC](https://forums.speedlife.net/t/economy-thread/58733/87 "2008-12-11T06:08:22Z")
I think the only thing left now is the 13" bar mill. If that ever closes they can use the facility for something totally new and different. ---
**Author:** ![Dr.Stevil](https://avatars.discourse-cdn.com/v4/letter/d/da6949/32.png) [@Dr.Stevil](https://forums.speedlife.net/u/Dr.Stevil)\ **Post date:** [December 11, 2008, 6:12am UTC](https://forums.speedlife.net/t/economy-thread/58733/88 "2008-12-11T06:12:13Z")
> [@Avatar](#): > > Yes, things will probably get better, but some people don’t have the ability to stick out the long-term. > > See that jump at about 1969-1972? > > Just wait until we bring the troops home to a jobless economy… hopefully they were smart enough to take advantage of their free education ---
**Author:** ![Bacon](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bacon/32/7230_2.png) [@Bacon](https://forums.speedlife.net/u/Bacon)\ **Post date:** [December 11, 2008, 7:28am UTC](https://forums.speedlife.net/t/economy-thread/58733/89 "2008-12-11T07:28:49Z")
Difference this time is it isn’t a draft. ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [December 11, 2008, 10:58am UTC](https://forums.speedlife.net/t/economy-thread/58733/90 "2008-12-11T10:58:09Z")
God Damn. I’m on a conference call about risk-weighted assets for the upcoming year and they’re making us weight all subprime mortgages as having a 26% CHANCE OF DEFAULT IN THE NEXT YEAR. This is either an overreaction, or we accidentally the economy. THE WHOLE THING. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 11, 2008, 11:05am UTC](https://forums.speedlife.net/t/economy-thread/58733/91 "2008-12-11T11:05:29Z")
What were subprime mortgages weighted at? ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [December 11, 2008, 11:29am UTC](https://forums.speedlife.net/t/economy-thread/58733/92 "2008-12-11T11:29:39Z")
Not entirely sure, I wasn’t here yet when finance set them for '08 and i’m not a bean counter in reg reporting that could look them up. But the call had a mass-gasp. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [December 11, 2008, 1:24pm UTC](https://forums.speedlife.net/t/economy-thread/58733/93 "2008-12-11T13:24:51Z")
FAZ $2,000??? I find it comical the % of default we see. I mean this many people couldn’t setup a decent budget? Really? ---
**Author:** ![Dr.Stevil](https://avatars.discourse-cdn.com/v4/letter/d/da6949/32.png) [@Dr.Stevil](https://forums.speedlife.net/u/Dr.Stevil)\ **Post date:** [December 11, 2008, 1:31pm UTC](https://forums.speedlife.net/t/economy-thread/58733/94 "2008-12-11T13:31:20Z")
> [@cougarspeed](#): > > FAZ $2,000??? I find it comical the % of default we see. I mean this many people couldn’t setup a decent budget? Really? yeah, no shit. then again, too many people live outside of their means. All it takes it a light gust of wind to take down a card house (or lending institution) ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 30, 2009, 11:46am UTC](https://forums.speedlife.net/t/economy-thread/58733/95 "2009-01-30T11:46:27Z")
Just read this… North American raw steel production fell by 5.5% in 2008 versus 2007, with US output totaling 91 million metric tons (-6.8% versus 2007) China produced 38% of the world’s steel last year, and its 502 million metric tons mark the first time any country has produced more than 500 million metric tons of steel in any year. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 30, 2009, 11:48am UTC](https://forums.speedlife.net/t/economy-thread/58733/96 "2009-01-30T11:48:36Z")
This too… 2008 New York - Total private sector jobs down 122,200. Government jobs up 800. Sweet! Manufacturing jobs down 20,300. More than 1 in 5 people in NY work for the government. Super! ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [January 30, 2009, 11:57am UTC](https://forums.speedlife.net/t/economy-thread/58733/97 "2009-01-30T11:57:07Z")
so you’re more upset about the 800 people added to government payrolls that at least do work for their money than the 122,000 people that private industry just added to the government payroll? ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 30, 2009, 12:02pm UTC](https://forums.speedlife.net/t/economy-thread/58733/98 "2009-01-30T12:02:07Z")
> [@Joe](#): > > so you’re more upset about the 800 people added to government payrolls that at least do work for their money than the 122,000 people that private industry just added to the government payroll? I will assume you are smarter than that.🙂 ---
**Author:** ![justa4door](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/justa4door/32/7259_2.png) [@justa4door](https://forums.speedlife.net/u/justa4door)\ **Post date:** [January 30, 2009, 12:03pm UTC](https://forums.speedlife.net/t/economy-thread/58733/99 "2009-01-30T12:03:51Z")
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