US Economy Is Finally Showing Signs of a Recovery

Originally posted by LibertyOrDeath008
Any thread with CNBC as a source cannot even be taken seriously. Jon Stewart proved that they cannot be taken seriously just in case there was any doubt. Like someone else posted a little before me, they have been drinking the kool-aid since day one.

It is actually a Reuters article that cnbc posted.

As much as I would like to believe in this being a turnaround point I tend to believe in internet memes more than political glad-handing and tripe. So why not just combine them.

[atsimg]http://files.abovetopsecret.com/images/member/6fb6bb860713.jpg[/atsimg]

reply to post by tide88


This is far from over, actually now the corruption behind the bail outs is coming to the front burner as more Americans are finding out how deep in caca our government is with the financial in the US.

The last AIG bombshell is just one of the many corruption scandals that will be sweeping the nation in the coming days.

Is not over yet.

We're probably seeing the temporary fix that the "stimulus" plan created. Its just like sweeping dust under the rug. Its clean now, but it'll come bursting at the seams again whether it be a couple months or a couple years.

Or... the economic meltdown is just a setup, for our leaders to "save" us from depression (one they created). Then everybody will trust Obama and he will trick us straight into the NWO.

And currently now there seems to be hope that we're getting saved since the market is not dipping 200 points a day. Be very careful and observant if we see an upswing over the next year or two...could be a setup to get us to believe whatever they want us to believe(not like they haven't already though)

reply to post by tide88


My my.

So Obama has been called out on his doom and gloom about the economy, and suddenly, unicorns, rainbows, sunshine, and leprechauns all have sprung from our economy overnight! Everything is going to be ok!

Bull.

Tell me again, what was fixed? If you answered "What is the The Nothing" which these zombie institutions have become, you've nailed the correct answer.

What legislation has passed to prevent this from happening in the future again? How transparent has our banking model become now that we've dealt with this crisis? Where again have we addressed confidence?

How about layoffs? I still see news about it, including today CAT laying off ~ 2500 more people. Rumors of the biggest bankruptcy in business history this week flying all over the place, and GM being a top contender. Tent cities springing up, news stories of people using Hotels for homes, etc etc.

It all is fixed now just cause the market goes up for a few days in a row? Talk about a suckers rally. Be ready to short hard and long if the rally stops at the 50 DMA (S&P 806 because there is nothing but darkness below.

Nothings changed. The economy didn't recover, confidence is still at historical lows, and all indicators are still showing we're heading into a depression. Remember you still have the $11 trillion dollar deficit sitting in the room that you get to pay for now, $50 trillion Social Security nuclear bomb ticking away, and the $750 trillion derivatives elephant that NO one wants to talk about.

I'll ignore that for now though, because the unicorn bouncing around in this thread has captivated my attention.

Don't believe it, this is a fake recovery. Gerald Celente was predicting this. He is a deadly accurate trend's forecaster for those of you who don't know. 95% of his predictions have been said to come true.

Some notable predictions he made were:

The "Panic of '08" ............................................................................ 2007
Economic 9/11................................................................. 2007
Dollar Down, Gold to Soar ......................................................... 2005
Cyberworld TV ......................................................................... 2005
Real Estate Fizz ....................................................................... Jan '05
Alternative Energy Biz to Boom ..................................................... 2005
Recession 2007 ......................................................................... 2004
US to Lose Iraq War (one month before war began) ................... 2003
Go for Gold - Beginning of gold bull market .................................. 2002
2001 Recession............................................................................ 2000
A Dot-Com correction by the second quarter of 2000.................. Sept' 99
October 1997 Pacific Rim currency crisis..................................... 1995
August 1998 Russian economic collapse..................................... 1996
On-line shopping revolution............................................................. 1995
October 1987 world stock market crash........................................ 1986
Demise of the Soviet Union............................................................. 1990
Spirituality/new age trends............................................................... 1988
Increased international and domestic terrorism............................ 1993
Home-office trends........................................................................... 1986
1990 Recession: length and depth................................................. 1988
Interactive education/distance learning.......................................... 1993
Downsizing, outsourcing and temporary work force..................... 1990
Gourmet coffees and micro-brews................................................. 1988
Clean water market opportunities................................................... 1988
The clean foods/organic trend......................................................... 1989
Anti-Globalization trend.................................................................... 1996
The great outdoors/back-to-basics trend....................................... 1988
Casual dress trends.......................................................................... 1986
Voluntary Simplicity..........................................................................1990
"Previewing" - trend driving health/fitness/nutrition........................ 1987
Home-health care market growth.................................................... 1988
The "Millennium Generation" -- the trendsetters............................ 1997
Alternative-complementary medicine............................................. 1988
Rise of deep discount and warehouse shopping.......................... 1988
Green marketing............................................................................. 1988
Increase in Halloween retailing........................................................ 1989
Baby boomers to buy second homes............................................. 1992
Big move to small towns................................................................... 1992






[edit on 17-3-2009 by sliceNodice]

[edit on 17-3-2009 by sliceNodice]

It's not over yet in my opinion.

I see this problem in the economy like the one in Peru.

I go with what history shows us. Money with no Gold standard always collapses.

I also go with what some economists say, especially the ones that saw this economy going down years ago. They are the same ones that are giving "doom and gloom" predictions.

You shouldn't be calling them "doom and gloomers" right now.

They are are not negative people, right now they are realistic people because the future seems to be going their way.

Originally posted by tide88
reply to post by Amaterasu

 

I believe the worst is over. Sure credit card defaults will go up but those same companies are also raising interest rates and fees to cover those loses. As for the commercial market, if retail sales start to improve like this article claims and banks lets those customers refinance those loans or keep lower interest rates, which I gurantee they will, we should be able to advert those two crisis'. They arent going to let the same thing happen with the commercial market as they did with the housing market. Obviously I believe any good news is good. So although I am not rubbing the story all over myself to feel good, I am seeing some positive out of it. And if it get consumer confidence up, we very well may be seeing the end of this mess. However I will still take a wait and see approach to the whole thing. ONe of us is right, for the sake of the world you better hope it is me. Time will tell.


[edit on 17-3-2009 by tide88]

surely you are joking with your comments.........
its all part of there plan to fool the people, of course the dollar is steady and looks so fakely hopeful.....
do you think the rise in the dollar is a possibility of the supposed fake gold being supplied through the markets by china and i wonder whos behind that, could it be to scaremonger the people from buying it,so they see the US market pick up and invest there instead........
Then CRASH goes the market and people loose all there money again, and the gold is bought up by the greedy elite of this world.......
Buy gold is what i say if not a diamond my friend............

[edit on 17'3/2009 by surrealist1978]

//pondering/// hmmmm.. listen to Greenspan warning of a "Greatest Depression"?


...or tide88


(tough choice, I know..)


-

But read the source article and it is double-speak. The title says the recovery is here but then in the text the guy says, "I don't think this is the beginning of a recovery. It is the beginning of a much slower pace of decline."

It is just a massive shell game and they are trying to convince everyone that it is all okay. The Fed does not think things are getting better or else they would have never started the process of buying 30-year Treasury bonds (possibly $1 trillion of them).

You see, they realize that optimism is critical. And they are trying their best to convince people the worst is over - only their actions belie their words.

Just please be careful about throwing your hard-earned money back into the stock market. I still believe it is going to around 5,000 and nothing at all has really changed. The economy is getting much worse.

I get the feeling that if the economy does turn around, that this was an error turned to scheme to get many people rich, while making them look like heroes

Once the economy starts going at the rate it was, everyone will forget about all the people who ran out with millions of dollars.

While I really do think that the recession was not planned, I do think that our government and many other corporations are abusing this crisis and making money from it.

This happens in the smallest examples. One person creates a problem, and then they solve it and become a hero. So, not only are these corporations responsible for the crap we are in, they will also be recognized (and awarded) for fixing their mistakes that they should have never made in the first place.

The only cure to that syndrome is honesty, and there is not much of that left in the world.

Impossible... we are at the edge of the cliff not the beginning of recovery

Since the fed has inflated the money supply almost 300% over the last three months the only possible outcomes are hideous deflation or rampant hyperinflation.

Pump...

I hope it doesn't but:

Friday, March 20th, 2009... dump.

what the article doesn't mention about consumer spending is its just temporary!

Look at what time of year it is, its tax season and people are getting tax refunds. they are spending their tax refunds on the needless crap they really don't need and down payments on cheap houses because some moron suckered them into buying a house which is still loosing value and will continue to do so.

I'd wait to see how the markets and consumer spending is doing in may-June before I'd start dancing and singing I see the light the worst is over.

At best this is a temp rise before the final free fall. And I'm sorry even if the banks and credit card companies continued to raises interest rates and fees that is not going to protect them from defaults. Think about it the higher interest and larger fees will actually force more Defaults!

And NO nothing has been done for the commercial real estate market collapse that is coming don't kid yourself in thinking something has.

Right now the Economy wouldn't be completely killed if the credit card defaults hit it. But if the commercial real estate market goes you might as well put your head between your legs and kiss your butt goodbye!

I get the impression that the OP is trying to convince himself,things haven't even started yet,wait a few months and watch the US unravel like opening up an old golf ball,we haven't even got to top of cliff yet

Originally posted by tide88
Sure credit card defaults will go up but those same companies are also raising interest rates and fees to cover those loses.

Let's discuss what happens when a credit card company raises interest rates, annual fees, and adds additional fees on all those customers who have lost their jobs. Or who've had their hours cut. Or who've taken a pay cut. Or whose ARM is about to reset. Or who are otherwise on the financial edge in this economy.

CC default rates are at near-historic highs already. Conservative estimates of unemployment numbers, as stated in the linked article, are at least 10% - and those are U3 numbers, not the broad (and more accurate) U6 - which means MORE people will be losing their jobs, getting hours cut, and taking pay cuts.

If the default rate is so high already, how high will it go with more people out of work, and on top of it having higher interest rates and extra fees?

You seem to not have thought this through. Sure, AmEx and other CC companies can raise interest rates, but where's the guarantee that people will be able to pay as the employment situation continues to deteriorate? To the contrary - by raising rates and fees, the CC companies are ensuring even more default. This is basic middle school math here.

Deutsche Bank AG Chief Executive Officer Josef Ackermann said Germany’s biggest bank had a “good start” to the year and expects to return to profitability after scaling back risky businesses and shedding toxic assets. “We are very disappointed at our loss in 2008, but absolutely determined to take all necessary measures to restore Deutsche Bank to the path of profitability,” Ackermann, 61, wrote in a letter to shareholders published in the annual report today. “At the time of writing, I am pleased to report that we have made a good start to 2009.” Bank of America Corp., the biggest U.S. bank, JPMorgan Chase & Co. and Citigroup Inc. have said they were profitable in the first two months of the year, bolstering banking shares. Credit Suisse Group AG said today it had a “good start” to the year. Deutsche Bank generated increased revenue of 2.8 billion euros ($3.8 billion) in January, the bank said last month.

www.bloomberg.com...


Interesting, how banks are making a profit both in the states and aboard

This is how I see this economic trouble.
Money= crack(in this scenerio)
America has an addiction to crack...
we consume so much crack...that there is no more crack left to consume...
so what happens?
America gets withdraws...so what does America do...we produce more crack to get over this vicious withdraw we have....
so we blanket America with all this crack...now everyone is happy, cause they got their crack back...but little do they know, the crack that they just got, has been stepped on so many times, thatits not really crack anymore... so now they need more of it to keep up with their previous habbits until the whole thing just blows up in their face...
then after wehave no more crack left...we borrow more crack from our neighbors..but they run out of crack too....so now the whole entire world , has no more crack left. What do we do then?(you can finish the story if ya want) =)

Wait until the Chinese sell off more bonds
Then it will go down down to funky town.
But even if the markets get back to normal.
The damage to economies has already been done.