War On Recession Has Failed

[Kevin_Kennedy]

How about a bit of reality? Not the ridiculous promises from Washington, the absurd talk of "green shoots" while unemployment soars and investment falls, the silly guarantees that GM has a bright future even as its stock price falls to less than the price of a Snickers bar, the nonsense about how if we spend more and inflate more. Recovery will come tomorrow morning.

The war on recession is a flop. Fail, fail, fail.

The full-scale war on recession began in January 2008. Unemployment was climbing and house prices were falling, and George Bush, whose entire persona was the war mode since 2001, decided he wouldn't tolerate declining economic conditions.

Fail, Fail, Fail, Fail by Llewellyn H. Rockwell, Jr.

 

[brewerboy]

Personally, I'm VERY pessimistic about a recovery anytime soon.

 

[Neubarth]

 

[Neubarth]

US retailers report May sales declines
Early May retail sales results show shoppers remain cautious; many chains report declines
On Thursday June 4, 2009, 9:00 am EDT


NEW YORK (AP) -- Many U.S. retailers are reporting sales declines in May as shoppers continue to shop cautiously.


Costco Wholesale, Hot Topic and Stage Stores are all reporting drops more than analysts expected. Limited Brands, the Columbus, Ohio-based operator of Victoria's Secret and Bath & Body Works stores, says its decline matched forecasts.

Two factors might weigh on May results. A year ago, sales benefited from fiscal stimulus checks. And Wal-Mart Stores Inc., which has recently reported positive results, stopped issuing monthly sales data as of this month. That is likely to hurt overall results.

Same-store sales, or sales at stores open at least a year, are a key indicator of retailer performance because they measure growth at existing stores rather than newly opened ones.

 

[jillian]

stock market is up...

job loss is slowing

ADP Employment Report Shows Job Losses Slowing - US News and World Report

Hopeful Sign in Labor Market as Pace of Job Losses Slows - WSJ.com

economy on the upturn

VOA News - Bernanke Sees Economic Upturn Later This Year

can't you at least be honest about that? messes like the last eight years left do not get fixed overnight.

or should we have continued to do the same things that caused the economic failure in the first place?

and half the people who thought the country was going in the wrong direction now think so...

http://www.realclearpolitics.com/epolls/other/direction_of_country-902.html

you seem very, very young.

 

[Neubarth]

The simple fact of the matter is that the economy is in free fall. All the lies in the headlines do not hide the facts. 600,000 newly unemployed each week is a frightening reality. Sales are plummeting. Service sector economies lack the capacity to "bounce back" from economic collapse. Even if we reached a plateau in economic decline, we will stay close to that plateau for a long time to come. Right now there is no indication of a plateau.

Remember in 1929 all the so called experts kept on saying, things are improving, yet they continued to get worse. The lesson to learn from that is "Do not believe governmental lies."

Bernanke is a twit. All he has managed to do is manipulate the micro economic figures by creating false profits for banks. That is a good thing in that the Banks were able to post false profits and then float massive stock issuances to bring in more money for the upcoming hard times. Hopefully some of them will make it through.

 

[jillian]

that's untrue and not bourne out by any of the current numbers.

why do you wish for that? because it would prove your failed ideology right?

 

[Oddball]

stock market is up...

job loss is slowing

ADP Employment Report Shows Job Losses Slowing - US News and World Report

Hopeful Sign in Labor Market as Pace of Job Losses Slows - WSJ.com

economy on the upturn

VOA News - Bernanke Sees Economic Upturn Later This Year

can't you at least be honest about that? messes like the last eight years left do not get fixed overnight.

or should we have continued to do the same things that caused the economic failure in the first place?

and half the people who thought the country was going in the wrong direction now think so...

RealClearPolitics - Election Other - Direction of Country

you seem very, very young.

Riiiiight.

And throwing vestal virgins into the volcano makes the copra crop grow.

 

[Neubarth]

Jillian, are you insane? Post the numbers and look at reality. Damn!

Damn, again! You are a sheeple who is following all the lies in the headlines.

Don't believe a thing you are reading that comes out of Washington. It is all lies intended to deceive.

In March they started an extensive campaign to mislead the public so the banks could sell stocks. Most of the stocks have been sold to the fools, and now the reality will set in.

 

[Coloradomtnman]

I think its a little early to declare failure. But its probably going to fail. We should've never bailed out those banks, wallstreet firms, and automakers. Damn Bush and Obama for ever thinking this was a good idea. How many billions of dollars have been bamboozled now? We all got screwed!

 

[Neubarth]

“The Government’s business is in sound condition.”
Andrew W. Mellon, Secretary of the Treasury
-December 5, 1929

RESERVE BANK AREAS FORECAST NEW YEAR
Despite the obvious slackening of the pace of business at the close of the year, leaders in banking and industry throughout the country maintain an optimistic attitude toward the prospects for 1930.
-January 1, 1930

“The worst is over without a doubt.”
James J. Davis, Secretary of Labor.
- June 1930

‘BUSINESS CYCLE’ SEEN AT NEW PHASE; Bankers Hold Downward Trend in Markets Indicates Recovery Is Near. DENY ANALOGY TO 1920-21 Economists Point to Superior Credit Conditions Now, Holding Easy Money Points to Revival.
-July 6, 1930

BIG BANKERS PUT UP $100,000 SAFEGUARD; House of Morgan Among Those Required to Provide Protection for Investors. -August 3, 1930
“We have hit bottom and are on the upswing.”
James J. Davis, Secretary of Labor.
-September 12, 1930

“30% OF STOCKS SELL UNDER BOOK VALUES; Capital Is Above Market Price.”
-December 14, 1930

“The depression has ended.”
Dr. Julius Klein, Assistant Secretary of Commerce.
- June 9, 1931

 

[neurosport]

that this depression won't look much better than the one from the 30s is basically a given

the only real quetion is whether we will end up living under socialism once its over

people as stupid as they are alredy perceive this as a failure of capitalism and they ain't seen nothing yet. when unemployment hits 25% with inflation at something like 50% then they will know what failure is. at this point it will have been years since "good times" and people will have lost hope so they might very well say FUCK IT let's have Fuhrer Obama create jobs for EVERYBODY.

then we gonna have something like 50 years of socialism until we have only 10% the standard of living of China. then China will buy up all of our politicians and turn us into one of their colonies. At this point our population will be majority Latino and the official language will be Mandarin Chinese.