Recession has already started, CFOs say-survey »
Posted by: STONERS 5 months, 3 weeks agoA 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.
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nostalgia5 months, 3 weeks ago
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
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Teech5 months, 3 weeks ago
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.
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ADAGUY5 months, 3 weeks ago
Perhaps you would like to pay my fuel bill for this month. "it's never REALLY that bad"
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Debbie5 months, 3 weeks ago
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.
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jordan115 months, 3 weeks ago
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.
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hdthehn5 months, 3 weeks ago
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.
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quackpot5 months, 3 weeks ago
Good for you, Debbie. With a positive attitude like yours, ability to buy stuff will be hardly relevant. Plus, you are lucky enough to have a garden; you can grow your own.
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texangelwings5 months, 3 weeks ago
STONERS,
Just recently, I found out that some of my senior friends are living on $500 a month and no paychecks. They have to watch every penny, they said! The rising prices of everything from food to utilities, is making their lives much worse!
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jumpmaster5 months, 3 weeks ago
This kind of economy really makes a recruiter earn his money.
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dunkirk5 months, 3 weeks ago
Its not even the the ship has hit a reef and is capsizing its teh realization that the ship was sinking as soon as it set sail and Captain Dumya exasperated the situation by ordering full speed in the hopes everyone would enjoy the trip and not notice the ship was sinking.
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texangelwings5 months, 3 weeks ago
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!
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GHOSTWHOWALKS5 months, 3 weeks ago
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.
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texangelwings5 months, 3 weeks ago
Oh, I am ready as I can be! My father warned me about this in 2004, just before he passed away! He grew up during the great depression.
Yes, GHOST, you are so right!
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jordan115 months, 3 weeks ago
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.
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texangelwings5 months, 3 weeks ago
We must write and call our congressional leaders, to point that they are sick of hearing from us!
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Jaydee405 months, 3 weeks ago
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.
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dunkirk5 months, 3 weeks ago
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.
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crespi5 months, 3 weeks ago
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.)
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skeek5 months, 3 weeks ago
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.
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rdy2rck5 months, 3 weeks ago
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.
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jumpmaster5 months, 3 weeks ago
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!
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canadianrancher575 months, 3 weeks ago
I have been waiting for the economy to tank since the market crash way back in 74, no one took notice back then and we just continued on our merry way. We suffered from inflation in the late seventies but those who had some cash were helped by higher interest rates in the early 80's and lower energy prices .Today we are again facing inflation but interest rates are so low that those on fixed incomes are going to get slaughtered. I have lived within my means for much of my life but with the inflation we are facing now I wonder if even those of us who produce something will be safe. I have seen pictures of what happened in Germany when they had hyper-inflation I hope that is not what we are facing, it's sort of sad that we have let greed bring us to this point and I believe that it is more than government who needs to be blamed.
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crespi5 months, 3 weeks ago
Is Carlyle Group stealing hundreds of billions of our dollars and stashing them off shore "living above their means?"
Isn't the malfeasant trillion or so waiting for Cheney and Bush in hidden bank accounts so they CAN LIVE ABOVE THEIR MEANS?
The parents with two jobs and trying to raise their kids are "living above their means?"
Grid, you're still a Neocon.
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chevydog5 months, 3 weeks ago
Of course there's a psychological component to all of this. But I believe that economists have a standard objective definition for the term recession. If it meets that definition, it will be one no matter what the political spin says. In the past there have been times when we've gotten out of a recession before the data has officially determined that we were in one.
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chevydog5 months, 3 weeks ago
Crespi-- I believe that the standard definition is two or more consecutive quarters of falling GNP, as opposed to say a reduced rate of growth. Don't know when the numbers are announced (by the Bureau of Labor Statistics, I think). Corrections then can come in 1 or 2 months later.
If memory serves, the sub-prime mortgage thing hit the fan about mid-summer, then took a couple of months to impact other areas of the economy. So it would seem difficult to accumulate two quarters of falling GNP yet. You may have actual records--I'm just going by memory.
In my lifetime, I've already seen one recession triggered by spiking energy prices. Wouldn't bet against it happening again.
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palamaComment removed: User banned.
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fempatriot5 months, 3 weeks ago
I'm sure that when our government has finally turned us into part of the North American Union, erasing the borders between Mexico, the USA, and Canada, with a common currency like the Euro--everything will be peachy. That's what's been done to most of Europe, and what the corporation-run governments of all 3 countries are trying to do to North America. Of course, our Constitution and Bill of Rights won't be worth 2 cents, and we'll have twice as many poor, uneducated former Mexican citizens living here, but what the heck--maybe we former US citizens can finally migrate to Canada or Mexico where there will be plenty of factory jobs for all. Or something.
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RCair5 months, 3 weeks ago
I don't beleive that this is true. We have not had the 2 quarters of negitive growth, The unemployement rate is down, There are still many jobs not filled due to people not applying for them.
Yes things have slowed. Only the talking heads and the Presidental canidates think there is a ression.
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Will13135 months, 3 weeks ago
Let Bush lead you in your morning exercise.....
http://politicalhumor.about.com/library/images/...
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jordan115 months, 3 weeks ago
You can't just say 'the unemployment rate is down' & announce that things are just dandy! The number of working poor has risen. And even those who make more than would put them at the poverty level must be considered by where they live. Making $36,000 in Tennessee is whole lot different than making $36,000 in CA. In CA, $36,000 is barely sustainable!
And the debt level of Americans is the highest in history. They are running out of the ability to charge their purchases, while at the same time can barely keep up with their payments. The savings of Americans is lower than it was during the great depression. Things have 'slowed' because we've been using deficit spending to boost the economy, & we've run out of credit.
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Will13135 months, 3 weeks ago
GW Bush was intent on breaking every record of the G HW Bush presidency...
Removal of Saddam... accopmlished...
Breaking Daddys record FORECLOSURE RATE.. accomplished...
anyone see a pattern..
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