Mr. T Posted July 16, 2012 Report Share Posted July 16, 2012 America slides back into recession The Economic Cycle Research Institute in America has doubled down on its recession call. A fresh US slump is not just a risk any longer. It has already begun. Output slowed to stall speed over the winter. The US economy tipped into outright contraction in the second quarter, even before facing the "fiscal cliff" later this year – tightening of $600bn or 4pc of GDP unless action is taken to stop it. Nothing serious is yet being done to head off the downward slide. If ECRI is right, the implications for the global system are ugly. It is never easy to read the signals at inflexion points. Washington is always caught off guard. As ECRI’s Lakshman Achuthan says, it took the Lehman collapse ten months into recession in September 2008 to "wake people up". What we know is that retail sales rolled over in February and broader trade sales peaked in December. Industrial output peaked in April. The nationwide ISM index of manufacturing crashed through the break-even line of 50 in June, just as it did at the onset of the Great Recession in late 2007, but this time at a faster pace. Job growth has slumped to 75,000 a month over the last three months, too low to stop unemployment rising again to 8.2pc, or 14.9pc on the wider U6 measure. Albert Edwards from Societe Generale expects the US economy to shrink 2pc this year, leading to a 40pc fall in profits. He says the S&P 500 index of stocks will ultimately plumb fresh secular depths, below the 666 bottom of March 2009. The Federal Reserve has drifted into fatalism, seeming to lose confidence in its own ability to shape events, displaying the same lack of "Rooseveltian resolve" as the Fed in the early 1930s -- to borrow an expression written years ago by a young Princeton professor, and Fed scourge, called Ben Bernanke. More HERE Link to comment Share on other sites More sharing options...
FairHooker11 Posted July 17, 2012 Report Share Posted July 17, 2012 yes and Obama s "doubling down" on that too.. Link to comment Share on other sites More sharing options...
Mr. T Posted July 17, 2012 Author Report Share Posted July 17, 2012 The good news is that they announced that we dont have any increases in inflatiom. cough! Link to comment Share on other sites More sharing options...
The Cysko Kid Posted July 17, 2012 Report Share Posted July 17, 2012 Double dip recession sounds delicious, like ice cream. Link to comment Share on other sites More sharing options...
MLD Woody Posted July 17, 2012 Report Share Posted July 17, 2012 With unemployment swirls Link to comment Share on other sites More sharing options...
calfoxwc Posted July 17, 2012 Report Share Posted July 17, 2012 Now, with Obamao playing fast and furious...@@ with a new socialist America.... we have droughts in the midwest that will hammer shortages into an economy already struggling. And, Obamao is desperate by most legit accounts - he's all in with any slur, any exec order, any "occupier" rape, intimidation of Republcans by inferring danger to their families with videos of their homes, lies, vicious lies, and soviet style slurs. All that is missing is Obamao having his own KGB. Oh, wait, he has plans for that too. He needs "his own civilian security force, as well funded and well armed as our military"... put all the pieces together. It's a scary picture. Look at world history where the exact same scenarios ...scenarioes? have taken place. Dangerous, serious trouble on the horizon. We have to quit heading toward it. Meanwhile, a new outstanding book is out by a famous investigative journalist. "The Communist". About Frank Davis - Obamao's mentor and ...? Link to comment Share on other sites More sharing options...
MLD Woody Posted July 18, 2012 Report Share Posted July 18, 2012 With unemployment swirls Get it cuz there is cyclical unemployment cyclical --> cycle --> swirl lol Link to comment Share on other sites More sharing options...
Mr. T Posted July 21, 2012 Author Report Share Posted July 21, 2012 The Conference Board's consumer confidence index dropped for a fourth ... Consumers are getting gloomier by the day. People turned more pessimistic on the economy in June for the fourth month in a row, as anxiety about the outlook picked up. The Conference Board, a private research group, said its preliminary consumer confidence index for the current month dropped to 62.0, from 64.4 in May. This month’s figure fell below economists’ expectations. “Consumers still feel very, very unenthusiastic about the labor market,” wrote Dan Greenhaus, chief global strategist at BTIG. “We see no reason to think that the monthly employment report is set to improve in any meaningful way any time soon.” Also contributing to the downbeat mood was Read it HERE. WSJ Link to comment Share on other sites More sharing options...
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