Money – A U.S. recession has already started and the downturn is likely to last longer than in the recent past, with the economy recovering only late next year, according to a quarterly survey of corporate finance chiefs released on Wednesday.
Some have an agenda, political probably, for wanting it to seem like we are in a recession. Just read another article on the fact that we wont be going into a recession at all.
Recession is a significant decline in economic activity. Or put another way, people aren't spending. If you don't have money, you can't spend. This country has stayed out of a recession by the use of credit. By relaxing the standards to obtain credit, millions of Americans have gone into debt and given an artificial appearance of a strong economy, (spending). Now they have no more credit, so the government is giving a rebate to get them to spend more, so the economy looks good again, (spending). Problem is, the money they're being given is borrowed money, with interest to pay. Meanwhile, job losses and declining wages are making it hard to pay back that debt. Eventually, we'll crash.
jordan-
Wait a minute, we are spending like crazy. It just happens we are spending it in Iraq pounding the sand with lead. Using million dollar smart bombs to kill a single sniper. What could be more fiscally and fiduciary sound than that.
The President has a MS in Business Administration he should know a great deal more about the economy than a few "liberal conspiracy theory economists".
Got WMD, we do not torture, if someone leaked they will no longer be part of my administration, etc, lie, etc, lie, etc, lie, .... And the dittoheads listen to him like a messiah.
Recession first, and unless living waged jobs are provided to working Americans, we'll be lucky that a recession is only level we reach!
Thanks STONERS!
Get ready for worse. I hate saying that but the truth is if the fed doesn't stop printing money this recession is going to be a depression that will be worse than the one in the 30's. Trouble is I don't see anyone trying to stop the cycle of boom, or bust on the horizon. Just more of the fuzzy math and fancy words.
Recession first, and unless living waged jobs are provided to working Americans, we'll be lucky that a recession is only level we reach!>>>>
The only way we can forestall a depression is jobs, and investing in new technology that the world will purchase. Investing in our infrastructure that desperately needs fixing is the only way well paying jobs can be created in a hurry; however, that will have to be done on borrowed money. To pay back that debt, we need to compete in the world's technology & create new and better options. That will bring the world's money to our doorstep. Stem cell research, new sources of power for our homes/factories/vehicles, and so on. And we MUST get out of Iraq! And we MUST stop using the majority of our money on weapons! And we MUST stop giving special treatment to off shore manufacturers! Or we're going to fall. Just my not so humble opinion.
Jordan I think you are in the proverbial rock and a hard place, I don't see calling elected officials helping any as the system is on automatic pilot or as they say stay the course. Any public revolt with violence will only get innocent people killed and destroy any faith in the US dollar and it will take years of massive protests which will also devalue the US dollar. It looks like a long and bumpy ride as they say in the movie.
Just for fun, how about you tell me where the hell you got 'public revolt with violence' out of my comments, or calling officials either. Are you in la la land, or what?
All the things you mentioned are good ideas but not in line with what the government has been doing are they? I like many believe the biggest problem is with your government and how can you change that? I just listed the broadest three and how they can still make the economy worse so that's why I said you between a rock and a hard place. Now where does lala land come into play?
It's already been a long ride, Jaydee, and it's coming to an abrupt end, right about now. Recent foreign financial reports are predicting that by this time next year at the latest there might well be nothing left of our current US economy. NOTHING.
I listened to the LaRouche webcast earlier, and, flake that he is, he is also an economist with a sound record of analysis. He was saying that if we didn't put the Fed into bankruptcy and take over oversight and stop Ben "Helicopter Money" Bernanke from continuing to print, that by the end of the year "hundred dollar bills will have more value as wallpaper than as currency".
I don't like to be a doomsayer, but it is only fair to warn, and it is obvious that we are being spoon-fed pap right now to prevent the BIG PANIC. Analysts outside the US are referring to what is coming to us this fall as a "SUPER GREAT DEPRESSION".
If we stay the course, that is.
Nothing like a "Super Great Depression" to squeeze the last penny out of the working stiff and put it in the hands of the super-rich 1% elite who know how to use it.
The 1% cleaned up on the last great depression. The got all the farms, all the property, and they were smart enough to get out of the market and put their cash in gold or Swiss Francs before any market or currency crash.
They have already salted away their money in Euros or Swiss accounts or other offshore accounts. They're making another killing by having the Fed mess with the money supply and causing 300 to 500 point per day or week swings in the stock market. They sell at the peaks, and buy in the valleys that THEY create. The 401K suckers are getting their cash flushed out just like the plan calls for. More foreclosures? Great! Buy that property cheap! Rent it back out to the suckers who got fleeced.
Folks, there's big money to be made here, but get it offshore soon.
Hey buddy, wanna buy an apple?
WE are in serious trouble then. Stem cell research is behind the rest of the world, we are outsourcing tech jobs at a rapid rate. Computer technology is now centered in China and India and we put it there all to save a buck. Tech support for our phone infrastructure is shifting to China (that one should be raising eyebrows all over the place) With COns running the show we've sold the future to make a buck today.
If we do not reestablish some of our industrial-manufacturing base we are destined to be a third world nation.
That has ALWAYS been the plan.
America's Democracy is the thorn in their side, the one thing that prevents them from a complete corporate take-over of our government.
So TRASHING our American government and then moving on to other countries is a perfect strategy...
(By the way, we are just ANIMALS to most of them. To be fleeced, used for unpaid labor, and eliminated.)
They could have asked common folks a year ago and figured this one out.
But I'll say one thing. If a depression hits us the rest of the world will go down with us.They know it and that's why they're scarfing up our dollars.
Out here in "the rest of the world" it's true that it will affect the world, but the world will not go down with you. We've seen this coming for a very long time now. Many regions have pursued decoupling from the US economy and your currency - Europe, Asia, Latin America. The world has never, since the end of World War II, been less dependent on the US economy than it is today. Other nations are now emerging economically.
I don't know what you mean by "scarfing up our dollars." If you mean buying up nothing could be further from the truth. If it were true, your dollar would be going up not down. Foreign banks and investors are diversifying their reserves away from the US dollar. Why do you think it's been doing nothing but depreciate for the past 6 years?
Other countries and companies can invest into America and they're doing it. A US economic meltdown is in nobody's interests, but this means some of what you think as your own will soon be in foreign hands.
You make good points and did not mean to demean the rest of the world or to elevate us.The point is that the US is still the consumer nation(and call it greed, I do) and the economic powers that be can not afford to let us collapse, thus can't let our dollar fall too far.
The fact is that for over 2 presidencies at least the US has consumed based on consumer debt and now the price must be paid.
So until the foreign emerging markets grow more, The US is still a vital force for the economic health of the World and the Chinese are buying up a heck of a lot of our dollars to prop us up.
No recession in California. The state has 30% more money than they did last year and the California state assembly wants a huge tax increase.
I guess they will tax us into prosperity.
Let's see now. People are just getting by now, so let's take more from them so they can have a higher standard of living? No, no, no, that's not it. The government has 30% more than last year so let's take more money from the people so the government doesn't have to work very hard.
One of the politicians was whining how many of the state employees would have to give up their state automobiles. Waaaah!
Well they will also have higher expenditures this year than last so 30% might cover it if they are lucky.
Why will there be higher expenditures?
Increase in oil prices makes everything go up from cement and asphalt to paper clips. How much has oil gone up a barrel over the last year, percentage wise? You see where I'm going.
Maybe they should look at cutting their inflated budgets. Over the last ten years, the number of six figure state employees has gone up about 500%.
How about eliminating free college tuition for illegal aliens? Yes, the People's Republic of California provides free tuition for illegal aliens. I know. To the layman, this sounds insane.
Why should anyone tighten their belts if everyone is tightening their belts?
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71)
"Fifty-four percent of the CFOs said the United States is in recession, and another 24 percent said there is a high likelihood of one starting later this year, according to a Duke University/CFO Magazine survey completed on March 7."
Anyone who doesn't know we're in a recession doesn't do the shopping, & has too much money to care what things cost. Honestly, I don't know how families afford to feed themselves. Prices are ridiculous.
Food prices will continue to escalate for a variety of reasons
First - increased fuel prices increases the cost to deliver food to the market
Second - the policies of the Feds
Congress giving subsidies to corn growers for ethanol has wrecked havoc on food prices - higher prices for corn based prices and meat. Now wheat farmers are beginning to plant corn so there will be a shortage of wheat with increased prices
This editorial in the NYT is instructive on why fruits and vegetables are increasing in price:
My Forbidden Fruits (and Vegetables)
The federal government works deliberately and forcefully to prevent the local food movement from expanding. And the barriers that the United States Department of Agriculture has put in place will be extended when the farm bill that House and Senate negotiators are working on now goes into effect
The commodity farm program effectively forbids farmers who usually grow corn or the other four federally subsidized commodity crops (soybeans, rice, wheat and cotton) from trying fruit and vegetables.
http://www.nytimes.com/2008/03/01/opinion/01hed...
Like all centralized planning, the consumers are hurt
But the prices still aren't high enough for California
California Ag Secretary visits Cuba
America's top food-producing state has sent its first official agricultural trade mission to Havana to show its powdered milk and dairy products, as well a wide array of fruits, vegetables, nuts, dates, rice and cotton to the communist government.
http://www.freshplaza.com/news_detail.asp?id=14963
What do you think this will do to prices in the US
Stick around.
What do a bunch of CFO's know about anything? What do a bunch of stupid scientists know about anything.
Our President, The All Wise One, The Great Decider, The Bringer of Democracy and Freedom to Iraq, The Bane of All Terrorists, The Torturer of All Suspects, The Great War Hero, Mr. Mission Accomplished, The Great Pilot of our Economy, the wonderful, most popular president in history George W. Bush says we are NOT in a recession and that global warming is bad science.
That's all there is to it. Believe it. End of argument. No further stupid comments or discussions are necessary.
So shut up and spend your $300. He's already fixed the problem. Do what King George orders...go shopping.
...for ammunition and a big stew pot.
Perhaps you would like to pay my fuel bill for this month. "it's never REALLY that bad"