Another Recession????
 

Sunday morning news show reports we may be facing ANOTHER recession????? I could have sworn we were already smack dab in the middle of one????? Ahhhhh.....the media!!!:smash:

The lost years, 2007 - 2027

we are in a depression. Dont believe what anyone else says. Our politicians sold our backbone to China at the expense of the middle class American Manufacturer and to the gain of Corporate profits. With out our backbone, we are nothing more than a jellyfish laying on the beach at 4 AM.. it can still sting you, but it isnt going anywhere.. The only question is will the tide come in to save it before the rising sun cooks it.

nope we gave away our last bullet last week

Nebe, now if you would dare step outside your left leaning carapace and join me in the middle (yes, I think I'm in the middle :devil2: ) you can safely blame everyone from atop the high soapbox.

Corporate Greed
Politicians
Lobbyists
Congress
Welfare
Bureaucrats
Tax & Spend
Over Regulation
Nanny-State
The Switch from Question Authority to Reject Authority
Congress
Obama
China
Wall Street
Pelosi
Frank
Obama
Boehner
Bu#^&#^&#^&#^&ler
Congress
Jimmy Carter

Actually, the biggest culprit is the american consumer. They chose to buy foreign products.

yep, everyone supposedly who speaks for us,

I agree totally Eben! They won't use the "D" wprd but we have been in it for at least 4 years! I do not see it getting better anytime soon....though the Govt. and the media try on a daily basis to paint a rosey picture!!

You can't help but buy foreign anything.......all big ticket items...cars, electronics....if not made totally foreign all the parts used in them were!!! Its time to start taking back what we have lost!!!

How about the globalists that made it all possible?

The simple truth is we can always argue and counter argue from each side and rearrange the deck chairs while Rome burns (love mixing metaphors). Or we can recognize all of the problems and attack them.

But Politicians are so deep fellatiating their base (sounds worse than I meant :rotf2: ) that we miss what we really need to do:

Cut costs
Create Jobs
Raise Revenue

We're screwed because we CANNOT afford to spend like we've been spending, yet slashing the economy so much will possibly contract it further. On the other hand, if you took every last dime of every "Corporate Jet Owner" , you couldn't FIX the problem. If you took every last dime of those making over 1 million, you couldn't FIX the problem.

The last forty years' prosperity has been based on Technology, a lot of it a by product of the Apollo Project. Have faith in your children. They'll come up with something for sure. This is America for Pete's sake.:smash:

I don't think you can blame globalism, it's a mega trend that isn't stoppable. You can either fight it or make it work for you.

Politicians don't create jobs :fury::smash::rotf2:

But it sounds like you advocate a balanced approach, like most pragmatic people.

That's why Alan Simpson said you have to hit every cow. Entitlements, pork, international aid, corporations, wealthy etc... make everyone feel a little pain and you can solve the problem.

Real issue is that corporate America runs Washington. Lord, now I sound like Ralph Nader :devil2:

-spence

We are headed Down Down Down,,,,,,

How is this a surprise to anyone? This country's credit rating should have been decreased years ago. Our debt situation is pathetic.

We are entering the double-dip that was discussed during the initial recovery.

anyone wanna buy a fishin lure? Better yet take the whole effin business

I'm moving to fiji

But we sure handled it wrong, both from Politics and Corporate. We've also tied one hand behind our backs for most of the time.

NO SHEET!!!! But they can create conditions for them or they can create conditions that scare them away which they have been VERY successful as of late. Job creation takes a product and/or service .... DAmn - must go to work

.... DAmn - must go to work
.... DAmn - must go to work

.... DAmn - must go to work




Substance Teddy-poo, substance. Don't jab behine the near anarchist left :devil2: - give me solutions, show me your smartabilityfactor instead of a drive by :tooth: prettypleeze

Here is my account

Every single person I see, regardless of income, has a a smartphone. Dirt poor looking moms with 5 kids at there feet, are texting. How do they afford the monthly bill????

Every person I see has an ipod, ipad or i phone - who is it that apple is selling millions of products to? Rich people???????

90% of women I see have coach, lv, kate spade ,etc bags - sure, some are fake, but MOST are real. Why is it everyday people are carrying luxury bags for STATUS????

Malls are packed, outlets packed, restaurants packed....spend, spend, spend.

People are continuing to spend, period. They dont have the money to spend, right? We cant get out of the mess unless people spend, right?

I thought I read somewhere / heard on radio in the past week that some program will be giving cell phones out to some welfare recipients for free with up to 200 min / month. I'll need to verify accuracy but later, after work.

that's true John...cell phones are now a human right...

I don't know what you guys are talking about...the bailouts worked, the stimulus worked..the economy is growing and while it is not as fast as Barry would like...it's pretty damn good given the disaster that he inherited...in fact, if it weren't for terrorist organizations like the Tea Party and S&P causing that minor blip yesterday and the dems to lose the house...we'd be sailing along in government funded utopia right now!!!!

It's called safelink wireless. I got one for my son. 250 minutes for anything free everymmonth nyou have to qualify....is be on ma health etc. Must requalify every year. It's pAid for by the govt and all sPences taxes he enjoys paying. ThAnks spence :hee:
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You heard correct. I read about it over the weekend... Just another scam by the government so that people can get something for free. You're welcome Scott.

Free cell phones for the needy drawing both cheers and jeers - Pittsburgh Tribune-Review

Just want to say this in case anyone gets the wrong idea. All my life I've paid my own way. With the economy I'm getting hammered and applied for ma health. Since I was able to qualify and figured it could help get us out of the poo we're in I went for it. This safelink thing is not perfect but it now let's us know where the kid is and everything is ok. I'm not one for handouts but this was a no brainer.
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HUH?


Obama renews call for tax cuts, jobless benefits - Washington Times
Is this guy split personality?
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Relax,calm down now, don't stress, take it easy.
We added 117,000 jobs in July. Of course 82% of them were Big G jobs.

And anyway, Obama still has 6 months to fufill his campaign promise
to cut the defecit in half within 3 years. :hihi:

Im not talking about cell phones, I see bejeweled iphones.

likwid's always good for a chuckle

I want to bejewel my Evo. I think it will make Angry Birds more exciting.

And you aren't? Up your butt with a coconut :hee:

:spam::spam::spam::spam::spam::spam:

From everything I can gauge at this point, and this all could change, we are looking at a 1.5% - 2% ish growth rate for the second half of this year.

What this means is that by these standards, we're not going to be in a recession, but it will feel like one.

-1.5%-2% GDP growth is not enough to reduce unemployment meaningfully. Remember that we need to create 150,000 new jobs every month just to keep up with new labor force participants like high school and college grads. Note that the reported BLS job figures are not "real" job adds, they are estimates subject to a statistical confidence interval (plus or minus a hundred thousand or sojobs). The 117,000 reported job gains could have easily been in reality a net job loss.

-This economy is fragile and vulnerable to shocks. One example of a shock is a sharp drop in stock prices, which can erode consumer confidence and business investing (both consumers and businesses stop spending, thereby driving us into another recession). We have yet to see what the prior week's price action will do to consumer sentiment. The consumer is important ... accounting for 2/3 of our economy.

-Things to keep an eye on in the near term, as we have no control over these: Europe. Some European countries (like Greece) have borrowed too much money and can't pay it back. Why is this a problem for Americans? European banks have made loans to deadbeat countries like Greece. Americans are in turn invested in European banks. A good example of this is US Money Market funds. Because interest rates are so low here, US Money Market funds have to chase higher interest rates overseas, and this includes about $1.7 trillion of money tied up in European bank debt. Imagine your shock if you wake up one day and find out 50% of the money you parked in a money market fund, which you thought was "safe," goes "poof" because Greece goes belly up.

-Things to keep an eye on: oil. Oil prices are down sharply, which is good. Most folks are looking at NYMEX WTI (just under $82/bbl) but in reality our area of the country, heating oil and gasoline prices are tied to Brent Crude (right now $104/bbl). Oil is subject to seasonal swings, economic demand, currency swings, and geopolitical events (Mideast unrest that can affect supply). The good news is that oil has dropped a bit, but how long will it last? When the economy picks up, so does oil demand, and when oil prices go up to a certain level, this chokes off economic growth.

-Why is the economy otherwise so crappy right now? Because collectively we're up to our eyeballs in debt AND we're worried about our jobs. If we're busy paying off credit cards and mortgage bills from the zero percent APR borrow and spending binge of 2001-2006, combined with high fuel and food prices, we have that much less to spend on rubber dog$hit imported from China. We're less inclined to spend if we're uncertain about our future employment prospects. This deleveraging process is going to take years and will be a headwind to economic growth. Remember, you and I spending money on stuff is 2/3 of the economy.

The export of American Manufacturing Know how has given competing countries a 30 year boost ahead as our competitors. Forget about the unskilled labor intensive jobs that would have gone overseas. We sent manufacturing equipment, we sent people to train maintainance and mchining support people. We did all this for quick boosts of companies bottom lines . Yes , certain corps made 10% more for a while.

the problem is it was like playing monopoly. We sold all our holdings in manufacturing know how for a hand full of quick cash. No matter how much cash you have , if you have no property , you eventually lose in Monopoly. Its the same now. We gave away the greatest American Asset , "American Know How". We put countries that would have taken 30 years to develop their own know how into a position where they manned our machines with low paid laborers. Without us handing then turnkey manufacturing know how , those people would still be painting eyes on plastc snow men.

why of course he is.... that's why JohnR listed him twice.

This is all very true, and add to it the fact that these other countries don't have the legal protection for intellectual property that the US does.

On one hand this means the US will always be a more desirable place for some industries to innovate...but on the other...

And perhaps our best export...the American Dream.

-spence

People don't want to work around here. They are too lazy and it's too easy to live off of our system. I have job openings and will train and hire anyone just in case anyone wants to try to bust my balls. People will work for a day or a week. That's even if they show up. Some even say it's not for me and then go about their jobless business. I would send my stuff overseas in a second if it were possible. I'm losing money because I can't hire jobless people that are doing just fine on the plan they are on now.
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you've mentioned "THE AMERICAN DREAM" a couple of times now...base on your rhetoric...this appears to be higher taxes, increased regulation, more dependence on an increasing number of unsustainable government programs, government acting in ways that they determine will "benefit" American citizens, even if the citizens object, "forced modelling":yak5:....and on and on...haven't seen much in your musings that I'd relate to "THE AMERICAN DREAM"

Reader's digest version of article: Bill Gross was right. We are in a "new normal" of slow economic growth, chronically high unemployment, and it sucks and will continue to suck donkey balls.

One big positive I've noticed with the economy being this way is that the strip clubs have been able to hire much better looking dancers than in the past. Girls that otherwise wouldn't consider that type of work now are doing it because they can make decent money.

Of course this doesn't fix the problems with the economy, but it is a silver lining, at least for me.

Laugh or cry - this time I'll laugh :rotf2:

History will show this is a Depression, we call it a recession now because it is more optimistic.......

you've mentioned Simpson a couple of times as though he may have some credability with you....

August 11, 2011 4:00 A.M.

Alan Simpson on Obama’s Leadership
The president needs to put forth a budget plan.

As a former senator who served under four different presidents, Alan Simpson (R., Wyo.) is perplexed at the way the current one has “led” since taking office in 2009. “One thing that’s puzzled me from the beginning of this administration is that, on every major piece of legislation, he’s said, ‘Let Congress decide,’” Simpson tells National Review Online. “With every other administration in the past, whether it was Carter, Reagan, Bush, or Clinton, whenever they wanted to do something big, those of us in Congress would always say, ‘Okay, where’s the White House bill?’ They always had a plan to show us.”

Unfortunately, Simpson argues, President Obama has failed to adopt this approach, opting to let Congress take the lead on legislative matters, even those of paramount importance, such as health care, the federal budget, and — most recently — the debt ceiling. “I’ve never seen that done before,” he says. “Congress is never going to hammer out a sensible bill if they don’t know what the White House is going to do with it.”

Only House Budget Committee chairman Paul Ryan (R., Wis.), he points out, has had the gumption to step forward with a plan to “slay the biggest mastodon in the kitchen” by tackling the biggest driver of the national debt — entitlement spending — and face the inevitable “howling, shrieking, moaning” of the political class. “The president will say that he has a plan,” Simpson says. “He gave a speech and said he wanted to cut $4 trillion, which is a minimal number, but then he’s not going to touch Social Security and Medicare, for crying out loud.” That just won’t cut it.

The same goes for the AARP and others who refuse to acknowledge the need for meaningful entitlement reform. “If you can’t figure out where these programs are going, you’re off your rocker,” he says. And contrary to what most Democrats like to argue, the new health-care law did nothing to improve their long-term outlook. “You can call it Obamacare, or Elvis Presley care, or whatever you want to call it, it can’t work. It can’t sustain itself.”

Simpson says the Tea Party has been “a force” in the deficit debate, but suggests their role is being over-hyped by the media. “There are some very good people in the Tea Party, and there are just as many screwballs, lightweights, and boobs as there are in the Democratic and Republican parties,” he says. “They get all the play because the media is only interested in conflict, confusion, and so on.”



Funny, he didn't mention the Tea Party as an obstacle...he does chastise Grover Nordquist and cite him as an obstacle with regard to tax reform but in terms of calling for the necessary cuts on a scale that he seems to believe are needed...the Tea Party Terrorists is the only group out there that I'm aware of actually demanding these large cuts ...