US economy recovers but...

“The big picture perspective is that things have improved,” said Jan Hatzius, chief United States economist at Goldman Sachs. “The question is, how sustainable is this growth going forward?”

Much of the growth in Thursday’s report can be attributed to the billions in federal aid devoted to economic renewal, economists say.

“That alters the dynamic of a recession and a recovery, and what you’re left with, to some degree, is an artificial recovery,” said Dan Greenhaus, chief economic strategist at Miller Tabak, an investment research firm.

www.nytimes.com...

reply to post by eldard


Big banks (like Goldman Sachs who just told us everything was just peachy) represented 41% of all profits.

It's a terrible, terrible sign when the institutions that collapsed the economy are responsible for propping it up.. you don't use fire to put out a fire..

So I gotta say.. what recovery? I'll wait till Christmas before I say "Recovery here at last!"

This recovery is not real and will not last.

We are going to see that the bailout "band aid", the stimulus "bubble" is exactly that, a band aid or more correctly a bubble. A money bubble. The printing of the trillions of dollars that flooded into the economy with the bailout are strictly a patch to keep a sinking ship afloat. As the money is spent, money that WE still have to pay back. We will see the economy begin to continue slipping into the dumper.

Not to mention that I personally have not yet seen any sort of recovery in my daily life. My parents had a large chunk of their retirement plan in GM. Those hundreds of thousands of dollars dissapeared when the government "saved" that company, they neglegted to also save the millions of shareholders such as my parents, who will now have to continue working indefinately along with so many other Americans.

Back in March I posted this thread which quoted Greenspan saying that an additional 700 billion would be needed!

Fast foreward to now and there are currently several bills on the floor that provide additional bailouts, as well as rumblings from a relatively small but growing group that a second entire "stimulus" may be needed. Don't forget that WE are the ones who will be paying this back through myrads of new taxes on everything.

My local news several days ago reported that new home sales had increased for the first time in however long. Not surprisingly just two nights ago, that same station reported a surprising drop in almost all areas that are looked at when the calculate the so called "recovery.

All this is keeping in line with Gerald Celentes' predictions that we are in a cycle of a long and cataclysmic decline, and that when the money bubble bursts it will end the cycle of the boom/bust economy, which was created when Greenspan brought us the bubble system of inflation/deflation. That system is absolutley flawed in it's design and is not sustainable indefinately.

The money bubble will be the final bubble because once the money can no longer hold value due to continuos printing and the inflation caused by falsely propping up the economy, there will be nothing left to continue the cycle.

Watch for the economy to bob up and down like the Titanic before it heads for bottom.

If you haven't followed any of Gerald Celente, have a look.
This video is the one posted on his official website TrendsResearch.com



Edit: fixed video


[edit on 10/29/2009 by AlienChaser]