"Great Recession" seen lasting 3 years, experts say

"Great Recession" seen lasting 3 years, experts say

www.reuters.com

By Walden Siew

NEW YORK (Reuters) - The current recession will last at least three years and possibly longer absent a revival in credit markets, according to investors who specialize in distressed debt and bankruptcy.

"This is going to be a three- to four-year disaster," said Michael Psaros, managing partner at KPS Capital Partners, at a restructuring conference in New York.

The United States is going through a "Great Recession," which will provide investors in distressed assets with unprecedented opportunities, he said.

"We are going to invest an awful lot of money this year," Psaros said on Thursday. "There is an inexhaustible supply of bad management out there."

KPS Capital, which manages special situations funds and private equity funds with capital exceeding $1.8 billion, largely sat on the sidelines last year. The firm is ramping up its investments this year, he said.

(visit the link for the full news article)

In three years, a recession that is causing the bleeding of jobs faster than we can keep up with, will eventually cause a depression if market force are not allowed to work. Congress is about to pass the stimulus bill that will "Preserve or Create" 3 million jobs. But those jobs will average $25,000 a year and with inflation it will probably have the buying power of $15,000 a year, and that is essentially not a living wage...So while we're working our buts off the value of our labor will just keep decreasing...So back to square one. This bill does NOT address the facts. And those facts are this:

We don't produce anything here and therefore we do not have competitive wages. Production and wages in a true freemarket economy go hand in hand. If wages fall behind the level of production then we see the buying power of the labor force dwindle. If production falls behind wages then we get massive lay-offs. So if we allow the government to "Create jobs" knowing their lack of footwork on the minimum wage, then what can we expect from this stimulus bill barring all other economic indicators?

More joblessness. That's what.

God help us.

www.reuters.com
(visit the link for the full news article)

No thoughts? This is a pretty grim prediction considering the circumstances.

Yes... I have thoughts, but I guess they're rather off-topic. They have to do with how much better things could be if we worked to bring about the abundance this Universe has to offer.

In abundance, money has no funtion, and we all could live as richly as the Elite do today. So rather than fret about how to "fix" the system, predicated on money (the love of which is the root of all evil), let's work to eliminate the need for this tempter and progenitor of love which causes evil.

How? you might ask... I present the ideas for this in my book. It is linked (for FREE) in my sig, as well as my discussion thread.

Thanks to any who read what I offer, and especially to those who post their impressions in my discussion thread.

The government says it is passing a stimulus bill.

But in reality, the "stimulus" is really just another means to shore up the failed financial and monetary system that we have right now.

I believe what you are alluding to is a resource based economy without the use of money. And I advocate that. But we have to work within the system to make changes to it.

reply to post by wutone



There's "Shoring up" and running aground. I'll leave it to you to decide which one we're actually doing.

Originally posted by projectvxn
I believe what you are alluding to is a resource based economy without the use of money. And I advocate that. But we have to work within the system to make changes to it.

I presume this was directed to me...? I have an excellent method of such working in my book...

And yes, a resource based economy is another way of looking at abundance. [smile]

Indeed, I wish people would take a look at these ideas, but alas the whole point of economies is to control, control, control. And those who are in control do not give it up so easily..Even when they are screwing it up.

Originally posted by projectvxn
Indeed, I wish people would take a look at these ideas, but alas the whole point of economies is to control, control, control. And those who are in control do not give it up so easily..Even when they are screwing it up.

Well, the way I have it figured, there are very few who do not answer to a "boss." There are very few that don't "toadie" if they have information that would help things on the way. And who would choose staying a toadie over having full say in what they would do in their lives, living as their bosses do, not having to answer to a higher-up.

If we can spread the word - and that is the point of my book - we might see a grass-roots movement, coordinated over the internet, as the toadies of the world toadie no more.

Free energy, antigrav, and other tech is likely to be released to facilitate the human race's freedom from wage-slavery and toadiehood. The many cures that are suppressed will be released as it is seen that making debilitating but patentable chemicals for profit makes no sense when there is no money.

Things can change and very rapidly - IF we get the word out and the ideas spread. Again, that is the point to my effort in writing my book.

[edit on 2/12/2009 by Amaterasu]

And your efforts are applauded. At least by me.

And I will read your book, but don't expect me to agree with everything. I tend to be solutions oriented and if I find things in there that can be done better I will certainly speak up, if for no other reason than for you to release a second edition.


[edit on 12-2-2009 by projectvxn]

reply to post by projectvxn


It is control.

The Fed prints money, loans it to us at interest, and we have to pay it all back. Off course since all money is a loan, there is no way to pay it all back because of the interest, so the Fed has to print more money and loan it at interest and see where this all heads to?

Of course the Fed can print the money, loan it to the banks, who in turn loan it to us which we have to repay with interest but we the people have to EARN that money with the sweat off our backs and pay back a chunk of it in taxes.

Now everything is all screwed up, most of Congress doesn't know how the money system in this country works or are owned by the money system, the political system is flailing around, they are trying to preserve the banker owned financial system yet at the same time they are dealing with growing anger and confidence loss in the public.

Originally posted by projectvxn
And your efforts are applauded. At least by me.

And I will read your book, but don't expect me to agree with everything. I tend to be solutions oriented and if I find things in there that can be done better I will certainly speak up, if for no other reason than for you to release a second edition.

AWESOME! May I expect your review and your thoughts on my discussion thread (also linked in my sig)?

I surely look forward.

Just know that there are elements that may seem "out there," but they do not detract from what we could be doing NOW to solve our problems. I personally believe all elements are true, but others will feel uncomfortable accepting these things I call truth.

Still, they make for a weaving of a tale that points the way.

I keep up with modern science more than most people. There are very few ideas, as a result, that seem "out there" to me. The more out there it seems the better, because the path to these things lead us to better things along the way.

Originally posted by projectvxn
I keep up with modern science more than most people. There are very few ideas, as a result, that seem "out there" to me. The more out there it seems the better, because the path to these things lead us to better things along the way.

I can hope so. [smile] The one thing I have in there that most have issues with is NOT the free energy, NOT the antigrav, NOT whether we can create abundance... It is that I use The Terra Papers (which I, personally, believe to be the closest to the truth we have) as a framework.

This does not mean the steps are predicated on the Papers holding truth. Far from it. Whether they are or are not true, we can still use my approach to bring forth the abundance. But it does make the story sound scifi-ish.

The IPOD Touch was science fiction 15 years ago and the only place you could see that kind of technology was on Star Trek..So who know right?

reply to post by projectvxn




well, if these investor-analysts see 3-4 more years
we'll be up the creek...


because the Obama bailout for the serfs (which number in the 100+ million)
ammounts to a $250 one-time payment to SSI checks this year,
another couple bucks of additional food-stamps for the current recipients,
theres a $25 dollar increase in UnEmployment checks for 1 year,
a $13 wk reduction in payroll taxes this year.....

bottom line, the nickle-dime programs for the bread-&-circus crowd
are going to expire 12 months from inception...


i guess the Obama regime of economists figures that since the
downturn-turned-into- recession... began in fall 2008,
and 18 months later we are supposed to miraculously come-out-of-It
so thats what the 12 month series of 'help' is supposed to address....



the scales of justice are sure UNbalanced
$750 billion for the riff-raff (as the elites & polished politicians see us)
VS
$1.5Trillion for the bankers, CEOs, financial houses...on top of the $2Trillion already given out to these entities since Sept. 2008



the $3.5 trillion is real enough:

...An alarming report by Mark Pittman and Bob Ivry of Bloomberg News emphasizes the point.
"The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged to provide up to $5.7 trillion more if needed," the Bloomberg duo revealed..
.

[edit on 12-2-2009 by St Udio]

reply to post by projectvxn


Well... The Terra Papers are less technology and more history. They're linked in my sig too.

The Papers are a thesis paper that was written in the late 1960's by a Hopi who was taking a class in Origins of Religion. Because his grandfather was amonst the group of Hopi that arrived first at a UFO crash on their land in 1947 and recued an ET (and hid the ET from the military, who came poking along shortly after), Robert Morning Sky was given the information the ET had given the Elders in thanks and trust.

The information was not for general distribution, but when Robert saw a very similar conclusion in what Von Daniken published in Chariots of the Gods?, and because he had to write a paper for this class, he petitioned the Elders to release the information as it pertained to Von D's work.

The Elders gave their permission, and thus The Terra Papers was written.

There is an element in the Papers that will remind you of Star Wars, but it is important to realize that the Papers were written well BEFORE Star Wars, and that Joseph Campbell (close friend and mentor to George Lucas) spent a long while with the Hopi, learning their "myths" and such. The connection could be made through this link.

Anyway... I hope you enjoy my book. Thanks again!!!

[edit on 2/12/2009 by Amaterasu]