Looks bad.
Shipments of durable goods increased last month, but new orders showed their steepest drop since January 2009; the trade balance improved but job growth weakened and new unemployment claims have risen.
When will this house of cards collapse? In the long run we will see that the UK/EU response to this problem was better.
From what i learned here yesterday, the only possible way for us to go back into recession is the exact moment when some stupid idiot politician says something idiotic along the lines of "hey, why don't we spend less than a trillion dollars more than we take in in any given year?"
But but but tcb said the stimulus was a success and it proved we need to spend our way into prosperity. This can't be true.
Suck my balls statists, just like TARP saved the world. Just kicked the can down the road you useless morons.
We won't lapse again in the near term, although the GOP is rooting for another recession so they can win the presidency. It's no problem for rich people like Mitt Romney because they don't miss millions of dollars on paper in any real sense. Only poor and middle class people really suffer from recessions.
Recessions happen in cycles and they are inevitable.
But maybe slow growth actually means that a recession is further away.
If we grew too quickly we would hasten ourselves to the next recession as a correction.
Why do people talk about how long it will take to return to pre-crash levels. Maybe we will never get back there because those were inflated levels.
This is obviously George W. Bush's fault.
How many trillions of dollars did that 2.2% cost? How many trillion more to keep it afloat? How big can the debt bubble grow? Beware, the end is near.
Aghast wrote:
Why do people talk about how long it will take to return to pre-crash levels. Maybe we will never get back there because those were inflated levels.
It's a simply way to relay information on how steep the crash was and how gradual the recovery is.
If we were never to reach pre-crash levels, that would mean that at some point the economy will stop growing all together. That would not be good.
I <3 Tacos wrote:
But but but tcb said the stimulus was a success and it proved we need to spend our way into prosperity. This can't be true.
Suck my balls statists, just like TARP saved the world. Just kicked the can down the road you useless morons.
I'm not trying to start a fight, I'm just curious: what solution would you have preferred to TARP? In other words, how could we have prevented the economy grinding to an absolute standstill (as opposed to a slow crawl) without some sort of government spending program?
It may have kicked the can down the road, but the threat of immediate and devastating financial crisis is the time when it's, arguably, most prudent for the government to spend money. It's the same reason why you have a credit card for emergencies - you can pay for the emergency now and buy yourself some time to repay the money when you're better able to.
well wrote:
We won't lapse again in the near term, although the GOP is rooting for another recession so they can win the presidency. It's no problem for rich people like Mitt Romney because they don't miss millions of dollars on paper in any real sense. Only poor and middle class people really suffer from recessions.
What one political side roots for does not make it happen. If so, Obama would have resigned by now.
And you have to take into consideration what great weather we had all over the nation. Seriously, what would GDP have been if the weather were normal. Had to have had an impact.
Recession.
We are watching the collapse of both capitalism and the US empire
You wish
when the initial recovery was occurring conservatives decried the numbers as falsely inflated by government programs. Now that the private sector is almost entirely behind the growth (3.5%) the numbers are ominously predicting the failure of the recovery. which is it, republicans?
^ wrote:
Recessions happen in cycles and they are inevitable.
But maybe slow growth actually means that a recession is further away.
If we grew too quickly we would hasten ourselves to the next recession as a correction.
This is a good answer. Since WWII, there has been a recession every five or six years, on average. So if we make it until 2014, I'll consider it a small victory. And if it's a shallow recession, I'll consider it an astounding success story in light of the condition we were in a few short years ago.
TCBmath wrote:
How many trillions of dollars did that 2.2% cost? How many trillion more to keep it afloat? How big can the debt bubble grow? Beware, the end is near.
One way of looking at it is that it cost us about five trillion dollars in deficit spending over the past four years.
For the record, that's very close to the cost of the two wars and the Bush/Obama tax cuts. We've also added a trillion to the GDP in the past three years. So a few years of peace and healthier tax receipts could make 2.2% feel like 5%.
2.2% is slightly below average. What's the big deal?
TCBmath wrote:
How many trillions of dollars did that 2.2% cost? How many trillion more to keep it afloat? How big can the debt bubble grow? Beware, the end is near.
That would be a valid challenge. However, Spain and the UK have added an equal or greater amount of (relative) government debt over the same period and have nothing to show for it. The best you can say is that the debt we've added will threaten our sovereignty many decades from now. Spain's austerity plan has threatened its sovereignty TODAY. America has the economic growth numbers to allow it to breathe and buy time to reorganize. America has a real shot at reforming entitlements and the tax code to brighten the mid-term budget outlook, without the stress of cyclical and structural problems that would otherwise make that impossible.
Unless congress acts, taxes will be quite a bit higher starting Jan 1st.
FICA will go back up and the Bush tax cuts will end. And if healthcare is constitutional, there will be higher taxes on some. All of this will be a drag on the economy.
Don't know what to do about it since we need the money.