wellfleation

The Great Depression necessitated government intervention and most economists agree the government did not do enough which prolonged it until after the war, which after we won, instantly propelled us to superpower status which helped our economy get off the ground and start flying as well.

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FIGHTPOWER

wellfleation

Yeah, may want to hold onto that money.

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FIGHTPOWER

Being

The thing that I have noticed (especially after daily show and colber report last night), which more people need to notice and should have known from day 1, is that the stimulus that was passed (reduced by GOP) was not enough to fix everything. It is enough to make things less worse, but not fix it. Its going to take time for things to get on a 'getting fixed' basis. right now we are just putting band-aids on the six inch gashes left over from Bush and massive lack of proper governance.

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R.I.P. Gov

John F. Kerry

the probem basically is that if the us government is gonna keep everyone from being fucked economically than all thats gonna happen is the us government (and all of us collectively) are gonna be fucked economically.


i know so many people drank obamas cool aid last election but if they really think he can pay their mortgages and give them free gas and healthcare without destroying our economy, then i just dont know what theyr thinking

al-Mu'akhkhir

in case anyone is harboring any delusions we're probably going to be recessed for the next 5 or 6 years minimum

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Scion

Cycles of recession and expansion are part of the game. Its all being controlled by the banksters and monopolistic aristocracy. The game is the economic slavery of the lower classes/masses. They sell mortgages and other major assets at high prices/interest, then start taking a lot of it back again thru foreclosures, refinancing, etc. Meanwhile all the while they have you slaving and making payments. all the time the land and assets and resources all belong to the people anyway and the people do all the work, but they are the ones paying the cops and soldiers so they make the rules. Solution: stop using money--collectively.

kamikazi89

i expect the unemployment figures to rebound around first quarter 2010, the equity markets are making a comeback..the important lesson throughout is we can live on less capital, even none(which is probably illegal) as long as we don't squander natural resources and micro manage local economies

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katie west is the best

Maturin

The news report making the rounds this morning is 2nd quarter inflation, mostly due to gas prices. However, inflation is inevitable with the government borrowing as much as it is. I think the Fed will start raising rates again in the fall.

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"Creating something is not a democracy. The people have no say. The artist does. It doesn't matter what the people witter on about: they and their response comes after. They're not there for the moment of creation."

--Russell T Davies

John F. Kerry

or maybe instead of their being a banking conspiracy try - its a free country and people have the right to make their own decisions and people have the right to borrow money but the people who loan then money have the right to get it back ... the fact that one has money and the other wants it doesnt automatically impart the right to have the other persons money for nothing.

Being

While the economy may not reach the massive gains of 90's levels for 5-6 years, we will not be in this recession/depression situation for 5-6 years, we are already on an uphill battle and have (hopefully, most likely) passed the downhill section.

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R.I.P. Gov

The Rev

According to the Index of Leading Economic Indicators, which has been a fairly accurate predictor both of the beginning and ending of recessions, we have turned the corner. It's been on its way up for the last few months. Things are still way down from this time last year, but the trend is toward recovery now. It's what happens after the recovery, however, that will be the most interesting.

From an inflation standpoint, the CPI rose .9% for June, which is alot (x12, that's nearly 11% annual inflation), but it's still down 1.4% from last year, so it could just be an indicator of recovery (increasing demand encountering still decreased supplies), and nothing to worry about. I'm still trying to figure it all out.

One noteworthy thing, tho. I looked at CPI data going back about 100 years, and it's very interesting. Prior to the 1950's or so, consumer price inflation was all over the map. About a year after the Fed was established, the inflation rate jumped to like 25% annualized, then swung down to 10% deflation, then back up, and so on. When you look at the whole graph, it makes the 1970's inflation seem like no big deal. In fact, this crisis marks the first time we've seen deflation in the CPI since the 50's. It's odd, when you consider the vast increase in money supply growth since the 1970's. All that money has to be going somewhere to bid up prices, it just doesn't find itself moving as rapidly into consumer markets.

I have some theories on why this is, but I need to work on them more.



The Rev

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Ego Tripping

Hmm...if this 'downturn' we went through is really the worst since the great depression, it seemed like a blip on the radar to me. In fact, I feel pretty let down, considering how much the media built this up. Throughout this entire "recession", I've been making more money than ever. Perhaps it's more in the hands & minds of the consumers than thought.

Not to say though that there isn't an actual downturn...I personally know friends affected by it. But to call it the worst since the great depression seems a bit too much...perhaps the worst since the 80's?

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John F. Kerry

i think we turned one corner but i gotta admit in the last few weeks ive started to worry that obmas tranformation of our society will actually cause far more problems then it is designed to solve.

the highest tax rate is going to be 59% in some states if nancy pelosi and the liberal pricks in congress (waxman, rengel weiner, etc)
lol they are such a dream team (NOT!)

do u guys realize how fucked up that is? i mean i dont know anybody who will be affected by this as it will affect those with incomes over 1million but just because people are rich doesnt give NANCY PELOSI the right to take 60 percent of their money each year - for christ sake- u work from january to JUNE and dont make a CENT!

WTF?

the GOP will come back to power, as they did last time, not really for their own ideas but because the dems just have that combination of arrogance and upittyness that really rubs moderate people the wrong way....

rengel has the nerve to say ITS the MORAL THING TO DO to REWRITE THE CONSTITUTION SAYING EVERYONE HAS THE RIGHT TO LIFE LIBERTY THE PURSUIT OF HAPPINESS AND HEALTH CARE BENEFITS PAID FOR BY THE MILLIONAIES IN SOCIETY- GUUESS WHAT - WELL WAKE UP TOMOROW AND ALL THE MILLIONAIRES AND THEIR COMPANIES WILL HAVE MOVED TO CHINA ! then who will we tax? hit bill gates and warren buffet with a 99% tax cuz that will fix everything !!! WTF


Thomas Hutchinson deplored mob rule, and this smacks of mob rule more than anything ive seen in my lifetime at least.

HTAM

Regarding Pelosi, are you referring to her position on windfall profits?

John F. Kerry

nope im referring to her position about raising taxes on millionairs to pay for the lowest income peoples health care. im not saying in the abstract sense that more fortunate dont have an obligation help less fortunate, but that at this point it really is going overboard and its not just a question of being unjust or unfair its a question in the global world economy of is this a wise move to destroy our rich population? basically we are doing what black leaders who came to power in africa in the mid 1900s did and what happened when they took all the land whitey had and gave it to poor blacks- well for the most part it resulted in famine war poverty misery and starvation....

so maybe just maybe we shouldnt follow marx's path considering we fought a cold war against it just like 20 years ago.

stateofkane

Our economy is bad because people aren't buying enough pointless things they don't need. Actually, that is the result of it. We rely on overconsumption of goods to be #1 in GDP.

stoneric

Already happened. Now they're billonaires.

plazake

Ok, somebody help me out here...When ever I try the SteamID login thing, it says "Incorrect login", Even though I am positive I'm typing in the right password and stuff. HELP!
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Paranoid Android

The powers that be are slowly, yet surely moving the world and its population into a completely controlled paradigm.

Welcome to the New World Order.

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"We're not scaremongering, this is really happening."