Legit fear of a double whammy recession crash

[calfoxwc]

http://www.ft.com/cms/s/0/90227fdc-900d-11...144feabdc0.html

 

Then, add in the possibility of Congress to pass a Cap n Tax/trade bill ?

 

We are in for some very, very serious trouble in our country.

[Westside Steve]

Not to mention that the next chunk of stimulus is slated for just before the congressional election!

 

What a coincidence.

 

WSS

[calfoxwc]

Not to mention that the next chunk of stimulus is slated for just before the congressional election!

 

What a coincidence.

 

WSS

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ooch. didn't know that ! I suppose it's the Dems who pretty much have that stimulus money

 

going to THEIR districts?

 

So much of what the Obama admin and leftists in Congress do, is for continued voting support,

 

with counterproductive policy and spending being not an issue for them.

 

Not good. But I figure a major backfire is coming. Americans don't like losing their freedoms.

[Mr. T]

"President Obama clearly believes

Big Government is the antidote

to this and perhaps all recessions."

 

“‘So it seems that we aren’t going to have a second Great Depression after all,’” wrote New York Times columnist Paul Krugman last week. ‘What saved us? The answer, basically, is Big Government … [W]e appear to have averted the worst: utter catastrophe no longer seems likely.

 

And Big Government, run by people who understand its virtues, is the reason why.’ This is certainly a novel theory of the business cycle. To be taken seriously, however, any such explanation of recessions and recoveries must be tested against the facts.

 

It is not enough to assert the U.S. economy would have experienced a ’second Great Depression’ were it not for the Obama stimulus plan. Even those who think government borrowing is a free lunch can’t possibly believe the government has already done enough ’stimulus spending’ to explain the difference between depression and recovery.”

 

Visit the Website

 

And who pays for BIg Government?

 

The Obama Machine will need the Cap & trade TAX to pay for all of his socialist programs.

 

Expect higher costs of living abroad no matter who you are or how much you earn. Cap & Trade Tax effects everybody.

 

Some say the recession is over, I say it has flatlined, we have not gone any further down the rabbit hole as of yet. But if America dosn't start the building process.

 

Upcoming US data:

This week's US economic calendar includes the August 25th release of June Case-Shiller home price index expected at -16.8 compared to -17.1 last month. Also on August 25th August consumer confidence will be released expected at 48 compared to 46.6 last month. On August 26th durable goods and new home sales for July will be released. Durable goods are expected to rise 1.7% compared to -2.2% last month and new home sales are expected to rise to 390k from 384k last month. On August 27th jobless claims for week ending August 22nd will be released expected at 550k compared to 576k last week. Q2 GDP will also be released on August 27th expected at -1.4% compared to -1% last quarter. On August 28th July personal income and personal consumption will be released with both reports expected to rise by 0.2%. Final University of Michigan consumer confidence will also be released on the 28th expected 64.5 compared to 63.2 last month.

 

“It’s hard to see consumer spending driving the economy forward given the losses of wealth that have occurred,” said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts. “The consumer isn’t going to play a leading role in this recovery,” he said, in part because “employment is going to keep falling.”

 

“Consumers are still under tremendous pressure, given the continued decline in housing prices and that we’re still losing jobs,” Robert Niblock, chairman and chief executive officer of the Mooresville, North Carolina-based company, said in an Aug. 17 telephone interview.

 

Bloomberg Here

[calfoxwc]

Fear is all the right has, sad but it is what it is.

Keep rooting for the President to step on his dick so you can point your fingers and say I told you so.

We as a country are screwing up big time with this constant power grab horseshit.

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Well, this is hard to work in a serious conversation into, but let me try.

 

 

1. It isn't "all the right has" as far as fear goes. Fear is a reaction to the combined background of OBama,

 

 

Obama and the left's statements, and their ACTIONs to date, plus the skyrocketing debt, and Obama's

 

 

glaring contradictions and broken promises.

 

 

2. He hasn't just stepped on it, he's got it stuck in favoritism to the left, that supported his rise to fame in his career.

 

 

3. See #2, as his approval ratings plummet.

 

 

4. We SAID before the election, that it was impossible to pay for a national health care system, and that

 

 

system could alienate Americans from their private insurance. And now, the CBO is saying the same thing,

 

 

and there has not been found a way to pay for it. We were right. Not using fear, just reality.

 

 

5. Constant power grab hs? You Democrats have control of both houses of Congress, and the Presidency.

 

 

They were successful at grabbing.

 

 

6. The problem is, Dan, seriously, that #5 means there are NO checks and balances to one sides'

 

 

power to enforce their agenda.

 

 

7. I don't know anybody who is rooting for Obama to be a bad pres, we just want him to stop

 

 

being a bad one in terms of his socialist, power sustaining idealogy that is more clearly being shown

 

to millions and millions and millions of Americans everywhere. And a lot of them are really unnerved.