Economy in Recession? More Liberal Lies?

The signs of a recession are all over us but in election year no politician is going to touch the subject.

Corporate Loan Defaults on the Rise

The weak go first, and people take comfort from the very weakness of the fallen. The fact that it is only the weak who are suffering is taken as proof that there is no general problem.

www.iht.com...

Dell Ditching America

Within the next 18 months Dell Inc., the world’s second largest maker of personal computers, is looking to sell off all of its factories. After a disappointing quarterly profit that sent shares down more than 17 percent, Dell is relenting to increasing pressures to improve profitability

www.economyincrisis.org...

Fed's "Beige Book" Report Paints a Darker Picture

According to the Fed's "beige book," released yesterday, business conditions were "weak," "soft," or "subdued" across most of the country. Businesses reported strains brought on by a battered real estate market, tapped-out consumers and stubbornly high prices for staples.

www.washingtonpost.com...

Even the sugar coating of the fed can not hide the trend.

Brazil, WTO Seek Additional Sanctions Against U.S.

Brazil, the world's largest ethanol exporter, may soon challenge the United States at the World Trade Organization over its tariffs on imports of the fuel, Foreign Minister Celso Amorim said on Tuesday.

Already won $4 billion in punitive sanctions against the U.S on June 20, 2008, according to Reuters.

this one the government doesn't tells about it to the American people, we are becoming at the mercy of foreign countries.

www.reuters.com...

Originally posted by marg6043
Brazil, WTO Seek Additional Sanctions Against U.S.

Brazil, the world's largest ethanol exporter, may soon challenge the United States at the World Trade Organization over its tariffs on imports of the fuel, Foreign Minister Celso Amorim said on Tuesday.

Do you realize that Obama is an adamant proponent for tariffs on importing sugar cane for ethanol production? This is keeping price of corn and gas higher. Think that's helping the economy?

As for the signs of a recession, the "experts" have been saying this for a year. Sooner or later they will be right. I would think that's self-evident. Economies go through business cycles and contract at times. Maybe it will start next quarter, maybe not.



[edit on 5-9-2008 by jamie83]

reply to post by jamie83


Jamie I don't care about obama or McCain if you are not getting that message around the board reading my post I guess you are just stubborn because for you is all about politics and political candidates and the ones that you favor.

I do not favor any.

Our economy is in the craper and none of the so call politicians that wants to bring change has show to me how they plan to restore America to its former glory.

None of them get it!!!!!!!!!!!! None of them.

Political parties candidates do not care about you or me or the regular tax payer of this nation Jamie, they care about the big interest theykissing their butts for campaign money.

Get it!!!!!!!!!!!!! America is in trouble big trouble.

reply to post by marg6043


Correct. Instead we are called liberals. We DO get it and here is the kicker we dont like the Democrats OR the Republicans. We feel they are a two party crime family with one agenda. The same people in a different costume. The sooner people realize this the sooner we will see real change. The fact is Obama or McCain will do nothing. I have lost all faith in government. They have lied and cheated the American people for to long now. This economy is their doing. This 10 trillion dollar debt and social security and medicare bankrupting is their doing and while they all sit in the back rooms laughing and extorting our tax dollars to their bank accounts real people are suffering. No more than 2 years ago I had a business with 30 employees now I have 10 left. Ive had to lay them ALL off.

Dude to tell a person with a family to support who did nothing wrong that you have to let them go is hard. This is directly because of this economy. Small businesses in a recession are generally the first ones to feel it. Several places around have gone under in my neighborhood and times are getting really really hard for myself. Ive cut back all that I can at this point. Then to be told that all is well by people like Jamie because its some conspiracy is disgusting. No sir I dont need the government to tell me when things are bad I can see them. I dont need government handouts Ill feed myself. I dont need government bail me out Id rather go bankrupt. I dont need to tell me who the threats are in the world I can see if they are or not myself. Im the complete opposite of what Jamie says we are. He doesnt get it and neither does his cronies.

reply to post by jamie83


Jaime,

Give me your address so I can send you $100 to buy a clue.

The housing market is currently going through a situation that has never been experienced in history. I got into real estate in 2006(brilliant idea I know :@@. The equity that was "created" in these houses during the real estate boom was a SHAM. The real estate market, especially in California, will never recover.

I have friends that/did own "million dollar" houses, now they owe more than they are worth. What a joke.

There is nothing on the horizon to turn the housing issue around, it's just getting worse. Not only did Fannie and Freddie need bailouts, FDIC needed to borrow money as well.

Originally posted by mybigunit

Correct. Instead we are called liberals.

Who called YOU a liberal?

No more than 2 years ago I had a business with 30 employees now I have 10 left. Ive had to lay them ALL off.

How is the the POTUS fault? What specific policy should the POTUS signed that would have avoided this? Better yet, what law should the Congress have passed that would have allowed you to keep all your employees?

Ive cut back all that I can at this point. Then to be told that all is well by people like Jamie because its some conspiracy is disgusting.

Allow me to correct you. I never said all is well -I just said we are not in a recession. Second, I never said it was a conspiracy. I questioned whether or not liberals are intentionally lying about the economic data, or whether they just don't know the definition of a "recession."

Im the complete opposite of what Jamie says we are. He doesnt get it and neither does his cronies.

I didn't say you were anything. I don't know you. And I don't have cronies.

Originally posted by jamie83

How is the the POTUS fault? What specific policy should the POTUS signed that would have avoided this? Better yet, what law should the Congress have passed that would have allowed you to keep all your employees?

Well if you mean by POTUS the president then I respond like this. The president alone could of done nothing. This is what we are saying. It is something ALL of government needs and needed to do. First balance budgets, I know it sounds far fetched but a strong dollar is important in a thriving economy. Second quit sending all of our jobs over seas and more so quit giving the big tax breaks who do send jobs over seas. Give them to people like me who employ here in the US. Third get a responsible monetary system. Make no mistake this recession is 90 % caused by the banks with a huge credit injection in 2004-2007 then they retracted it big time in mid to late 2007 and still are in retraction mode now. This is what is causing this. The banks have done this in the past and when you look at history it has the same damn effects every time but guess who makes a lot of money off this. The banks. There is no one law its many things that need to change and really it comes down to the roll of our government. If you knew how much I had to pay in taxes last year you would pull your hair out. This money in my pocket would of kept a few employees for sure.

Allow me to correct you. I never said all is well -I just said we are not in a recession. Second, I never said it was a conspiracy. I questioned whether or not liberals are intentionally lying about the economic data, or whether they just don't know the definition of a "recession."

Your header is Economy in recession? More liberal lies? Which says to me you think this is some conspiracy. Its not and because I believe this does not make me a liberal. In fact it makes me quite the opposite because liberals want to rely on government and Im telling you I dont need the government or its fixed data to tell me things are bad. Im smarter than that I can look around and see small businesses closing all over the place. I can see houses for sale all over my neighborhood. A friend who owns a company hired an assistant he he said he had an ad in the paper and had 40 resumes in the first day and the people applying were managers and higher level people. For an assistant? Sign of the times my friend. I wont disagree you make a compelling argument using your data but you have to understand history and how governments including our own works. What good would it do to put out the real information and have people in a panic. It would make things spiral out of control and that would not be good. But on the same note people who could prepare dont because they see this and think oh well the government says its fine so all is well.

The government just announced that it will now officially be taking charge of Fannie and Freddie.


Our economy is strong as an ox!!!!



Damn those Liberal liars!!

Originally posted by BlackOps719
The government just announced that it will now officially be taking charge of Fannie and Freddie.

Our economy is strong as an ox!!!!

Damn those Liberal liars!!

Deny logic not ignorance.
Hey, it works for some folks.

That or keep off-topic and mentioning Obama.

- Lee

Fannie Mae and Freddie Mac are nationalized now. Congrats, You now own a stake in 2 of the worlds largest failed financials. No it will not help. I'll get into that on a later date. www.bloomberg.com...

Another bank went under yesterday, that's 11 for the year. www.bloomberg.com...

Here's your reading assignment.
September 5, 2008

Down the Rabbit Hole


In recent months, investors have been unjustly chastised for their lack of consistency. In truth, they have an unblemished record of drawing the wrong conclusions. Last week’s 2nd quarter GDP report provides the freshest evidence of market cluelessness.

In its report, the Commerce Department stunned economy watchers by showing a 3.3% annualized increase in 2nd Quarter GDP. The robust growth apparently wrong-footed those expecting further recessionary signals, lent further strength to the current dollar rally, and encouraged previously cautious investors to take another look at U.S. stocks. The strong number also bolstered claims by the Bush administration and the McCain campaign that a recession is primarily a psychological phenomenon. These conclusions would be at least quasi-logical if they were not based on a complete misreading of the report.

Without raising an eyebrow on Wall Street or in the press, the GDP deflator, used in the report to downwardly adjust GDP to account for inflation, was shown at just 1.2% annualized.... the lowest deflator in ten years. In other words, to arrive at a 3.3% growth rate, the government assumed that inflation is running at a ten-year low! In contrast, the latest reading on consumer prices (CPI) in the second quarter shows year-on-year inflation running at a 5.6% rate, a seventeen-year high! In fact, for the second quarter, the same time period measured by the GDP deflator, prices actually rose at an even faster pace of 8.0% annualized. How can it be that inflation is simultaneously running at a seventeen-year high and a ten-year low? Welcome to the Alice in Wonderland world of government statistics.

You would think that this statistical bombshell would raise the hackles of the press. Think again. Not only did the hawk-eyed media completely miss the story last week, they have totally ignored our subsequent attempts to show them the light (with the exception of the N.Y. Post’s John Crudele – who has long suspected a ruse). Although none of the reporters we spoke with could explain why inflation could run at a 10 year low and a 17 year high at the same time, they did not deem the anomaly sufficiently noteworthy. Having been ignored by reporters, I then tried the opinion pages. Unfortunately the piece that we prepared on the subject was rejected this week by all the leading national newspapers.

Reporter Michael Mandel did note the head scratcher on a Businessweek blog posting last Friday. As a partial explanation he pointed out the CPI measures the prices of what we buy, and the GDP deflator measures the prices of what we make. Although this certainly sheds some light, it offers no real explanation. Excluding imports and exports, both measures are determined by the same forces, and should move in relative harmony. If anything, the costs of what we make should be outpacing the costs of what we buy. Producer prices are now rising faster than consumer prices (the latest annual reading of the Producer Price Index ‘PPI’ being 13.2% annualized from the 2nd quarter), which helps explain why corporate profits have fallen drastically. In addition, from July 2007 through July 2008 (the latest data available) import and export prices have risen 21.6% and 10.2% respectively. In other words, no matter what numbers you use, the 1.2% GDP deflator simply doesn’t add up.

I have often argued that government statics are dubious, particularly those related to inflation. But here is an example where they are not even consistent! If we simply use second quarter CPI to adjust nominal second quarter GDP for inflation, the number would have registered a 3.5% annualized decline.

Such horrific GDP numbers are much more consistent with the anecdotal recession evidence that Wall Street and Washington want us to ignore (confirmed by today’s weak jobs report which included the unemployment rate spiking to 6.1%, a five-year high). However, with Orwellian propaganda, our government fabricates GDP growth out of thin air without the smoke and mirrors traditionally required for such an elaborate illusion. All that is required is to put out ludicrous statistics and hope no one notices. Given that this strategy appears to be working, expect future government numbers to get even more outrageous. After all, if they can get away with this, they can likely get away with anything.

Investors relying on this data and reacting to the global economic slowdown by buying dollars and other U.S. based assets while selling gold, commodities, and foreign assets, are jumping out of the frying pan right into the fire. My guess is that it will not be much longer before they feel the heat.

For a more in depth analysis of our financial problems and the inherent dangers they pose for the U.S. economy and U.S. dollar denominated investments, read my new book “Crash Proof: How to Profit from the Coming Economic Collapse.”

Link to source Link..europac.net...



[edit on 6-9-2008 by aravoth]

reply to post by aravoth


God I love Peter Schiff. You talk about a breath of fresh air. This guy who has called all this for years now even though he was called every name in the book would of been the one handling the financial issues if RP was elected. Our nations finances would be so much more sound but the same sheeple who continue to buy these numbers every month are the same ones who believe that RP is just some fringe element and not the real deal. Great post star for you and star for peter schiff.

Originally posted by BlackOps719



The government just announced that it will now officially be taking charge of Fannie and Freddie.


Our economy is strong as an ox!!!!

Damn those Liberal liars!!

So the Federal Government essentially all but owns those two corporations that also just happen to own the majority of mortgages in the US ..

So when we buy a house from a bank and the bank sells the mortgage to Fannie/Freddie it essentially goes to the Gov which we then pay our outrageous interest rates to, and of course our house is owned by the Federal Government until you can pay it off....

Uhh....

Sounds like Corporate Fascism to me... anyone else?

I am just glad no ones going to jail, and everyone keeps their jobs.. And certainly I am very happy our government had the generosity to bail out the men who raped and sodomized this once great country. Just think if we where just as kind about giving money to education and medical research as we are bailing out criminals, crooks, treasonous bastards and various other scum bags that litter the streets of Wall Street and DC.

But it's all Liberal propaganda, nothing to see here, nothing at all...

reply to post by aravoth


Everyone has missed the fact that:

John McCain's SON was on the Board of Silver State Bank and left recently for "Personal Reasons" just as the bank collapsed.

[edit on 9/6/2008 by Rockpuck]

[edit on 9/6/2008 by Rockpuck]

Originally posted by Rockpuck
reply to post by aravoth

 

Everyone has missed the fact that:

John McCain's SON was on the Board of Silver State Bank and left recently for "Personal Reasons" just as the bank collapsed.

[edit on 9/6/2008 by Rockpuck]

[edit on 9/6/2008 by Rockpuck]

Wow where did u hear this? I havent seen this in the news anywhere.

Originally posted by Rockpuck

So the Federal Government essentially all but owns those two corporations that also just happen to own the majority of mortgages in the US ..

So when we buy a house from a bank and the bank sells the mortgage to Fannie/Freddie it essentially goes to the Gov which we then pay our outrageous interest rates to, and of course our house is owned by the Federal Government until you can pay it off....

Uhh....

Sounds like Corporate Fascism to me... anyone else?

I am just glad no ones going to jail, and everyone keeps their jobs.. And certainly I am very happy our government had the generosity to bail out the men who raped and sodomized this once great country. Just think if we where just as kind about giving money to education and medical research as we are bailing out criminals, crooks, treasonous bastards and various other scum bags that litter the streets of Wall Street and DC.

But it's all Liberal propaganda, nothing to see here, nothing at all...

Yup it disgusts me to no end. And people just dont realize what is going on. They are so consumed in themselves they arent realizing our wealth is being robbed. These United States of America is no more. It should be the Corporate States of America.

reply to post by lee anoma


Actually is tax payer money the one that will be use to bail out the two companies that will add more to the already outrageous national deficit and our unborn children's debt.

Perhaps they should have allowed China or the Emirates to buy them out.

reply to post by Rockpuck


This deserves a thread all in its own, thanks for the information

You can tell Corruption runs in the families, look at biden and His brother and son.

Incredible.

reply to post by mybigunit


www.abovetopsecret.com...

Already has a thread, Relentless doesn't like my thread though. lol.

To me it's admitting of a conspiracy, and even more so that only CNN has so far reported on it. It was immediately put into the back pages of the Business Section. Bastards.

As unemployment spikes, companies weigh options

Since the economy started to weaken last year we are losing jobs at record braking.

U.S. companies have cut more than 550,000 jobs so far in 2008 as they try to preserve their profits in a slumping economy, but analysts say such downsizing must be done carefully for corporations to have any long-term benefits.

fitzgerald.mediacomtoday.com...




[edit on 6-9-2008 by marg6043]

reply to post by marg6043


Fire to many people to fast, people begin to worry.. if people are laid off, spending power drops. If people feel threatened that their job is next, spending drops. Result? More job cuts ..