US Economy Faces Double Dip Recession

THe American Economy is headed for a double dip recession after poor consumer spending over the last 1/4. People need to be in jobs to consume and with increasing unemployment, you have to wonder how the economy will begin to grow.

Slower growth across the US, where almost one in 10 are out of work, was expected by economists. But many expressed surprise at the extent of the slowdown and the continued anxiety among consumers. While business investment grew strongly, consumers sat on their hands. Spending on services was especially weak with figures showing a meagre 0.8% annual rise.

www.guardian.co.uk...

Looks like the downfall of the great country is at hand. Americans need to unite instead of dividing over childish issues. We're the ones to get out of this depression.

I was watching cnn this morning, it almost sounded like some were blaming the consumer for not spending their money. They actually called it hoarding their money. What money? There aren't enough jobs down there anymore. They need to be able to manufacture their own stuff, that has mostly been moved out of the country. Their retirement funds aren't even a sure thing, they need all their money just to live.

At least in Canada, they acknowledge that we don't have money, and they tell us to save, and pay down debt first if possible.

Down there they are being accused of hoarding money. By the media of course, making everything worse.

I know the UK economy grew a little more than expected recently, but I still believe a double dip is likely in the UK and as always when America is in recession it effects the rest of the world. Not a positive out look for anyone I'm afraid.

Originally posted by snowspirit
I was watching cnn this morning, it almost sounded like some were blaming the consumer for not spending their money. They actually called it hoarding their money. What money? There aren't enough jobs down there anymore. They need to be able to manufacture their own stuff, that has mostly been moved out of the country. Their retirement funds aren't even a sure thing, they need all their money just to live.

At least in Canada, they acknowledge that we don't have money, and they tell us to save, and pay down debt first if possible.

Down there they are being accused of hoarding money. By the media of course, making everything worse.

You do know how that saying goes right? Those pointing the finger are the actual horders, wtf are we supposed to spend when they have horded the jobs and money from us??? Are we to pull it out of our A#@$%^??? I agree with you. I just wanted to make that clear! I have heard them call us this, it makes me boiling mad!!!!

reply to post by ldyserenity


So what they are saying is

If you can't consume anymore, what good are you to the system? Even if you don't need something, consume it anyway. You are a consumer, your purpose, your reason to be, is to consume.

Haha it's pretty much inevitable that another downturn is on the way, besides, the gain in stock values coincides with the decline of the dollar, so basically there was no real gain! The truth is that the plunge protection team can likely keep the jig going for as long as they like, but seeing as MSM is now saying we're in a depression, collapse may occur, and another dip is up ahead, yeah .. the elite have given the green-light to pull the plug.

I expect to see the economy tank even harder, another false flag operation to bring us into another war, just enough social chaos to provide reason for some sort of "temporary" dictatorship, and a whole lot of other problems down the line.

Welcome to the decade of hell!

Originally posted by woodwardjnr
reply to post by ldyserenity

 

So what they are saying is

If you can't consume anymore, what good are you to the system? Even if you don't need something, consume it anyway. You are a consumer, your purpose, your reason to be, is to consume.

And that is what makes me boiling mad!!!! I'll show them a hoarder wait till I can find me some land a self substain myself and my family and produce my own electricity if I even decide to go that way, I might jsut go without electric, and my hubby can dig a well and I aint to weak to hand pump that stuff out!!!! Yeah this is what everyone should do and show them what we really are!!!! SURVIVORS!!!!

Originally posted by woodwardjnr
reply to post by ldyserenity

 

So what they are saying is

If you can't consume anymore, what good are you to the system? Even if you don't need something, consume it anyway. You are a consumer, your purpose, your reason to be, is to consume.

This is exactly how my mom reasons, and it's pretty much sycophantic. She's high up the corporate ladder, and it's entirely corrupted her moral reasoning skills. Quite sad, actually.

Well, with a monetary system based entirely on debt this was inevitabley going to happen

And if you don't know what I mean by "monetary system based entirely on debt" please watch:

They knew this too:

We also detailed the broader, accelerating macroeconomic sweep of cycles last summer in columns like "20 reasons new megabubble pops in 2011." We summarized a long list of major warnings from financial periodicals -- Forbes, Fortune, the Wall Street Journal, Economist -- and from the voices of Warren Buffett, Bill Gross, a sitting Fed governor and a former Commerce secretary. Multiple warnings "hiding in plain sight," beginning with a Fed governor warning Greenspan in 2000 about subprime risk.

But the big shocker came from the new Treasury secretary two years before the meltdown: Bloomberg News reports that shortly after leaving Wall Street as Goldman Sachs' CEO, Henry Paulson was at Camp David warning the president and his staff of "over-the-counter derivatives as an example of financial innovation that could, under certain circumstances, blow up in Wall Street's face and affect the whole economy."

Yes, they knew. And still both Paulson, a Wall Street insider, and Greenspan's successor, Ben Bernanke, a Princeton scholar of the Great Depression, stayed trapped in denial and kept happy-talking the public for months after the meltdown began in mid-2007. Get it? While they could have put the brakes on this meltdown years ago, our leaders were prisoners of their distorted, inflexible views of conservative Reaganomics ideology.

As a result, once again the "best and the brightest" failed America and now they and their buddies in Washington and Corporate America are setting up the Crash of 2011.

Now it's time for my 2008 update, a look into the future where things will get far worse during the next presidential term. And given human behavior, especially in the deep recesses of Wall Street's "greed is good" DNA, it seems inevitable that no matter how well-intentioned the new president may be Wall Street and Washington's 41,000 special-interest lobbyists will drive America into the Great Depression 2.

Source

The government and the media talking people into consuming is part of the problem too. Some people were talked into mortgages they couldn't afford, with no regulations or checking to make sure the mortgage could even be afforded, or if the people even had jobs in some cases, and then some people were given 2nd and 3rd mortgages, and then the bank sells the mortgages which now aren't worth the paper their written on.

Now the government doesn't seem to understand economics at all, they keep spending money they don't have, putting the country even further in debt, expecting people to consume the country's way out of debt. Doesn't work. Not enough jobs to go around anymore. Or money to build up infrastructure, it's all going to wars or to the czars (overblown government). They can't even account for the billions of dollars they lost to the middle east. So they say.

Haaaa let the cash die.
It is our only rebellion against the elite.
At least we have skills and can barter.
All they have to barter is some worthless paper.
Bring on this...double dip, depression
Why do we say double dip? does that mean it is worse than a single dip?
like is a double dip that lasts 5 minutes worse than a single dip that lasts 10 years?
words are neat to use.

We are the consumers and we are the people who affect the stock markets directly.

With this in mind, if we all stuck together through this bad time we could have the final say in the outcome!

If we, as consumers, for example stopped spending full stop (bearing in mind that us, as consumers are made up of the people who make food, clean water, electricity) we could surely overthrow TPTB

Unfortunately though, we live in a society where we all see ourselves as the 'little man' and not enough people have the balls to stand up for what we believe in.

This attitude makes what is happening now in global warming, economic downturn, war, corruption acceptable??????

Wow.

PFFFFFFFFT!!! "Facing a double-dip recession"... WE'RE IN ONE!!!

Man these talking heads are as dumb as the politicians - simply reading anything that comes across the teleprompter without engaging their brains! This is akin to when they spent the bulk of 2008 debating whether or not we would go into a recession when we already in one.

Turn off your televisions and engage your brains.

reply to post by woodwardjnr



This article sounds more like the first drum before another US invasion. It's a diversion for the common people from the current situation of Allied forces in Afghanistan and Iraq. Or a diversion from something else.