Summer of Recovery huh? Economy Caught in Depression, Not Recession

[MaggieMae]

Since your incapable of interpreting the data. What we have here is a double dip recession that will be a depression if we try the smae solution again. It is happening because the stimulus could not, BY DESIGN, reverse the problem. It was nothing but a delay in the cycle. The causes may have been from the prior decade, but the solution is what will make this longer and deeper. 0bama owns ALL of that.

By design? Au contraire. The DESIGN was meant to jump start the private sector, which thus far has failed in its own responsibilities, as they sit on a pile of cash waiting to see what a new "conservative" leadership will do. In the meantime, people who are being shut out of the job market because businesses refuse to hire not only won't be buying the products those businesses offer, but they will lose their housing and voila! More and more will become dependent on government social umbrella programs.

Uh oh, be careful what you wish for, cons. BY DESIGN, you may actually be creating that monster that brings you your greatest dread: True Socialism.

BWAHAHAHAHAA!

Get this! She's taking the Jimmy Carter tact. IT'S OUR FAULT THE ECONOMY IS TANKING.

It's the Jimmy Carter "malaise" blame game!

If ONLY we appreciated how brilliant Obama is, we'd start hiring and making this economy work!!!!!!

Yeah that one really helped Jimmah during his reelection huh?

Keep that one up until November!

So you don't think that consumer debt had anything to do with it? Gee, how did I know that. Get educated, fool. You're really starting to bore me with your little smileys as though your fact-free contributions and giggles actually bear any substance.

 

[saveliberty]

By design? Au contraire. The DESIGN was meant to jump start the private sector, which thus far has failed in its own responsibilities, as they sit on a pile of cash waiting to see what a new "conservative" leadership will do. In the meantime, people who are being shut out of the job market because businesses refuse to hire not only won't be buying the products those businesses offer, but they will lose their housing and voila! More and more will become dependent on government social umbrella programs.

Uh oh, be careful what you wish for, cons. BY DESIGN, you may actually be creating that monster that brings you your greatest dread: True Socialism.

BWAHAHAHAHAA!

Get this! She's taking the Jimmy Carter tact. IT'S OUR FAULT THE ECONOMY IS TANKING.

It's the Jimmy Carter "malaise" blame game!

If ONLY we appreciated how brilliant Obama is, we'd start hiring and making this economy work!!!!!!

Yeah that one really helped Jimmah during his reelection huh?

Keep that one up until November!

So you don't think that consumer debt had anything to do with it? Gee, how did I know that. Get educated, fool. You're really starting to bore me with your little smileys as though your fact-free contributions and giggles actually bear any substance.

Your consumer debt needs to be defined. I would not include home loans in that. The government has bent over backwards to promote that. It is due in part to increased housing values that we are in this problem. A house was a giant piggy bank you could go to in support of consumer spending.

Consumer debt is high, but have we been setting records on bankruptcies from consumer debt? I don't think so.

 

[8537]

0bama denies we still have a seriously deepeing recession. You do the math.

That's because despite Conservatarian dreams, we DON'T still have a seriously deepening recession. We have an economy that is about 9% larger than it was a year ago, we are no longer shedding 800K jobs and the financial system is seriously impaired but stable.

 

[MaggieMae]

Being fiscally conservative but a social liberal was a traditional conservative viewpoint prior to the social con invasion from the Democratic Party. All it is, is a government "hands off" attitude, stay out of my wallet but stay out of my bedroom and living room too mindset.

No, it's I want to make money, but I want to make it impossible for others to make money.

Thus they are all for the welfare state, blah blah blah.

They are utter hypocrites.

And who's responsible for doing that? Businesses that refuse to hire while they await sweet deals from the Republicans. Unfortunately, in the meantime, it's inyourface unAmerican, in my opinion. The Federal Reserve reported recently that nonfinancial companies had socked away $1.84 trillion in cash and other liquid assets as of the end of March, up 26% from a year earlier and the largest-ever increase in records going back to 1952. Cash made up about 7% of all company assets, including factories and financial investments, the highest level since 1963.

 

[MaggieMae]

Government didn't do crap in 1921 and a depression that started out bad was over within a year to 18 months, ever since then, government gets involved, creates massive bubbles, creates an environment where people want to borrow and spend and then turns to the same government for solutions to the very problems it caused in the first place.

So all those people standing in bread lines suddenly found a way to put their own food on their own tables in their own homes? Amazing. Another revisionist historian.

 

[saveliberty]

0bama denies we still have a seriously deepeing recession. You do the math.

That's because despite Conservatarian dreams, we DON'T still have a seriously deepening recession. We have an economy that is about 9% larger than it was a year ago, we are no longer shedding 800K jobs and the financial system is seriously impaired but stable.

I thought you couldn't partially quote a post. Tell your little fantasy to the newly unemployed at a rate of 400,000+ per month. Conservatarian, is that someone who always cleans his plate?

 

[Jack Fate]

Being fiscally conservative but a social liberal was a traditional conservative viewpoint prior to the social con invasion from the Democratic Party. All it is, is a government "hands off" attitude, stay out of my wallet but stay out of my bedroom and living room too mindset.

No, it's I want to make money, but I want to make it impossible for others to make money.

Thus they are all for the welfare state, blah blah blah.

They are utter hypocrites.

And who's responsible for doing that? Businesses that refuse to hire while they await sweet deals from the Republicans. Unfortunately, in the meantime, it's inyourface unAmerican, in my opinion. The Federal Reserve reported recently that nonfinancial companies had socked away $1.84 trillion in cash and other liquid assets as of the end of March, up 26% from a year earlier and the largest-ever increase in records going back to 1952. Cash made up about 7% of all company assets, including factories and financial investments, the highest level since 1963.

That is pure bullshit without any shred of evidence to back it up. The businesses would hire all they could if they had the jobs. Jobs are created out of necessity, not for political reasons. Get off your partisan hack horse and walk around reality.

 

[MaggieMae]

Government is the problem, recessions are needed to burn off malinvestments, government intervention got us into the mess, it's prolonging the mess and when we do come out of it, it will be IN SPITE OF government, not due to government intervention.

Ohhh, lovely projection. Now tell us how the middle class, which is suffering the most, is supposed to pull itself out of this prolonged mess when there are no private sector jobs to begin filling the gap, more and more people are losing their homes and being forced into bankruptcy or becoming homeless. Project that.

That's the paradox government has created, now, we need to deal with the pain, the best thing Carter did was get Paul Volker as the Chair of the Federal Reserve;raising interest rates above the inflation rate; it was political suicide but it starved inflation, Greenspan came along and took interest rates so far down that bubbles were created, now, there is little wiggle room in the monetary sector, we need to allow things to crash and rebuild the foundation stronger than it now is;imho.

That's true, but in the meantime, you can't let people starve and build more shelters as they continue to become homeless at record rates. Therein lies the conundrum. There's plenty of time for the blame game, which will eventually reach the history books, but there are immediate problems that only government has the ability to resolve at least temporarily (since the private sector refuses to join the fight). And THAT'S what the right wing ideologues don't seem to get.

 

[saveliberty]

Being fiscally conservative but a social liberal was a traditional conservative viewpoint prior to the social con invasion from the Democratic Party. All it is, is a government "hands off" attitude, stay out of my wallet but stay out of my bedroom and living room too mindset.

No, it's I want to make money, but I want to make it impossible for others to make money.

Thus they are all for the welfare state, blah blah blah.

They are utter hypocrites.

And who's responsible for doing that? Businesses that refuse to hire while they await sweet deals from the Republicans. Unfortunately, in the meantime, it's inyourface unAmerican, in my opinion. The Federal Reserve reported recently that nonfinancial companies had socked away $1.84 trillion in cash and other liquid assets as of the end of March, up 26% from a year earlier and the largest-ever increase in records going back to 1952. Cash made up about 7% of all company assets, including factories and financial investments, the highest level since 1963.

What sort of idiot decreases their cash reserves and increases expenditures in a down economy and uncertain environment? Oh, I see, never mind.

 

[MaggieMae]

I'll repeat the question:

what should the administration be doing that they are not doing, or have not done?

To use the old adage: That's the $64,000 question. Funny that the ones who complain the most can't answer it.

The question is a defection.

You don't have to know what the answer is to know what it's not.

I don't know what the square root of 2,453,123,834,947,174,443,876 is...but I know it's not -3.

Obama's plan isn't working...history told us it wouldn't work, economists told us it wouldn't work, and lo and behold...it didn't work.

stimulus won't work - Google Search

My personal opinion is that it didn't "work" because there was (and is) so much anti-Obama sentiment period. Damned if he does, damned if he doesn't. If he had done NOTHING and the economy continued to sour (which it would have), guess who would have been to blame? Obama.

And I beg to differ that "economists" predicted stimulus wouldn't work. Most still agree that it has, or at least would have made things worse absent any stimulus program, except of course, those hired by the hard right.

 

[johnrocks]

To use the old adage: That's the $64,000 question. Funny that the ones who complain the most can't answer it.

The question is a defection.

You don't have to know what the answer is to know what it's not.

I don't know what the square root of 2,453,123,834,947,174,443,876 is...but I know it's not -3.

Obama's plan isn't working...history told us it wouldn't work, economists told us it wouldn't work, and lo and behold...it didn't work.

stimulus won't work - Google Search

My personal opinion is that it didn't "work" because there was (and is) so much anti-Obama sentiment period. Damned if he does, damned if he doesn't. If he had done NOTHING and the economy continued to sour (which it would have), guess who would have been to blame? Obama.

And I beg to differ that "economists" predicted stimulus wouldn't work. Most still agree that it has, or at least would have made things worse absent any stimulus program, except of course, those hired by the hard right.

That is the rub now that government has gotten so far involved with the economy, to blame Obama OR Bush is simply wrong;imho; I blame government intervention and "We the People" for getting so beholden to the concept of government involvement, now, all I see is two parties and blaming each other, someone is indeed fiddling while America is burning; figuratively speaking of course.

 

[MaggieMae]

Here's a good bumper sticker.

"The Summer of Recovery" is turning into "The numbers are worse than expected".

My all time favorite is still:

VOTE REPUBLICAN
[We're Not as Bad as You Think]​

 

[johnrocks]

How is a whore and the GOP/Democratic Party the same....they both suck.

How are they different.....One is the screwer and one is the screweeeee.

 

[MaggieMae]

Hey Maggie, do you think owning a home is a "right"?

No. But I also don't think loan sharking to fool people into thinking it's a "right" is "right" either. Before the mortgage industry was given carte blanche to write loans with no down payments and minimal payment schedules based on some carnival barker's assurance that the value of the property would allow it to be refinanced, people who bought homes they couldn't afford soon lost those homes anyway. But nowhere near on the scale that they have due to the greed of private sector investors.

 

[MaggieMae]

The longer you deny the problem exists, the bigger the wait before things can start to be fixed. If your not part of the solution, your the problem. 0bama denies we still have a seriously deepeing recession. You do the math.

He has said over and over again that things are not improving at the speed required. What's he supposed to do? Come out and shrug his shoulders and just announce that he's giving up? Yeah, that's the ticket. As President, part of his JOB is to remain optimistic.

 

[MaggieMae]

BWAHAHAHAHAA!

Get this! She's taking the Jimmy Carter tact. IT'S OUR FAULT THE ECONOMY IS TANKING.

It's the Jimmy Carter "malaise" blame game!

If ONLY we appreciated how brilliant Obama is, we'd start hiring and making this economy work!!!!!!

Yeah that one really helped Jimmah during his reelection huh?

Keep that one up until November!

So you don't think that consumer debt had anything to do with it? Gee, how did I know that. Get educated, fool. You're really starting to bore me with your little smileys as though your fact-free contributions and giggles actually bear any substance.

Your consumer debt needs to be defined. I would not include home loans in that. The government has bent over backwards to promote that. It is due in part to increased housing values that we are in this problem. A house was a giant piggy bank you could go to in support of consumer spending.

Consumer debt is high, but have we been setting records on bankruptcies from consumer debt? I don't think so.

Go to Page 2:
http://www.nacba.org/files/new_in_debate/Credit_Card_Debt_Bankruptcy.pdf

 

[MaggieMae]

No, it's I want to make money, but I want to make it impossible for others to make money.

Thus they are all for the welfare state, blah blah blah.

They are utter hypocrites.

And who's responsible for doing that? Businesses that refuse to hire while they await sweet deals from the Republicans. Unfortunately, in the meantime, it's inyourface unAmerican, in my opinion. The Federal Reserve reported recently that nonfinancial companies had socked away $1.84 trillion in cash and other liquid assets as of the end of March, up 26% from a year earlier and the largest-ever increase in records going back to 1952. Cash made up about 7% of all company assets, including factories and financial investments, the highest level since 1963.

That is pure bullshit without any shred of evidence to back it up. The businesses would hire all they could if they had the jobs. Jobs are created out of necessity, not for political reasons. Get off your partisan hack horse and walk around reality.

I posted facts, which are found everywhere, yet you post a partisan non-response, and you call ME a hack? Good one!

 

[MaggieMae]

No, it's I want to make money, but I want to make it impossible for others to make money.

Thus they are all for the welfare state, blah blah blah.

They are utter hypocrites.

And who's responsible for doing that? Businesses that refuse to hire while they await sweet deals from the Republicans. Unfortunately, in the meantime, it's inyourface unAmerican, in my opinion. The Federal Reserve reported recently that nonfinancial companies had socked away $1.84 trillion in cash and other liquid assets as of the end of March, up 26% from a year earlier and the largest-ever increase in records going back to 1952. Cash made up about 7% of all company assets, including factories and financial investments, the highest level since 1963.

What sort of idiot decreases their cash reserves and increases expenditures in a down economy and uncertain environment? Oh, I see, never mind.

American business entrepreneurial skills, which suddenly have been lost to greed, that's who. Businesses take risks all the time. There is no excuse for what they are doing now. None, nada, zip. I can understand a small business that is already teetering on the edge not wanting to risk increasing production which might mean increasing its labor force, but I don't understand bigger businesses who have already proven successful just sitting on their cash and/or investing in overseas markets rather than investing in America's future. How else is the economy supposed to turn around? They complain that their tax rate will go up to the rate it was during the Clinton boom years. SO WHAT?! Greed, it's pure greed, and to try to convince me otherwise will be futile.

 

[MaggieMae]

The question is a defection.

You don't have to know what the answer is to know what it's not.

I don't know what the square root of 2,453,123,834,947,174,443,876 is...but I know it's not -3.

Obama's plan isn't working...history told us it wouldn't work, economists told us it wouldn't work, and lo and behold...it didn't work.

stimulus won't work - Google Search

My personal opinion is that it didn't "work" because there was (and is) so much anti-Obama sentiment period. Damned if he does, damned if he doesn't. If he had done NOTHING and the economy continued to sour (which it would have), guess who would have been to blame? Obama.

And I beg to differ that "economists" predicted stimulus wouldn't work. Most still agree that it has, or at least would have made things worse absent any stimulus program, except of course, those hired by the hard right.

That is the rub now that government has gotten so far involved with the economy, to blame Obama OR Bush is simply wrong;imho; I blame government intervention and "We the People" for getting so beholden to the concept of government involvement, now, all I see is two parties and blaming each other, someone is indeed fiddling while America is burning; figuratively speaking of course.

So wouldn't the first step logically be to stop and find some modicum of compromise?

 

[boedicca]

Why should someone invest when there are not enough new customers because real unemployment is over 20%?