United States Heading towards a Depression?

I read that Las Vegas has its highest unemployment ever.

 

Check out Wisconsin. Interesting Jump. We lost two auto manufacturers. Unions and our States Taxes bled them to death.

 

The books are being cooked...

I have been watching CSPAN2 this morning (really!) and an economist stated that if we calculated U.S. debt in the same way that corporations calculate debt, we'd see that Obama has mushroomed the United States' total debt to a staggering $63 TRILLION. Economists and foreign investors know this.

 

One thing people need to realize about the numbers they see coming out of places like the CBO for instance. The CBO only works with what they are given.

Reality is a hard thing for Democrats to deal with.

 

102,134 American homes were foreclosed in September. This is the largest number of foreclosures ever recorded in a single month and also the first time more than one hundred thousand homes have been foreclosed in a single month. These foreclosures are largely the result of six million Americans being out of work for more than six months. This long-term unemployment number is far more critical to the foreclosure rate than the overall unemployment rate of 9.6%. Most of these six million Americans have exhausted their savings and cannot pay the mortgages they signed during the good economic times of the Bush administration.

Source: Causes of Homelessness

 

Headed towards? Nonsense, we're already there!!!
Google's definition of economic depression pretty much says it all:

Long term? 3 years of massive unemployment , low levels of trade, low levels of investment seems to fit here. The only thing that DOESN't fit is 'low prices'. Then again, that aint ever going to happen since corporations have long since forgotten what the consumer needs or wants!

 

Apparently, Maxine Waters words hit home with some of the foreign investment money that was buying up foreclosure homes en-masse. She called into question the legitimacy of property title in the US, in an effort to prolong the foreclosure process. Who wants to pour money into something you may not legitimately own when all is said and done. Since the foreclosures are now proceeding as planned, I think we may see the housing market plummet new depths. We will also see many of the jobless residents of those homes, who have been living in them without paying for them for more than a year, turned out into the streets.

 

Living in a car sounds fun, everyone should experience it atleast once

 

Guess who said this :


“The only way to fight poverty is with employment,” Slim said at a conference in Sydney today. “Trillions of dollars have been given to charity in the last 50 years, and they don’t solve anything.”


Find out : LINK


Hint : He is the richest man in the world.

 

Just a reminder, the economy is on the mend from the deepest Republican initiated recession since the Great Depression.

Of course the comments about the previous recession are correct, that is why the liberals are now in the majority and have curtailed the downward spiral as exemplified by the national exchanges.

Reverting to the past will only rekindle the recession to become the Depression that has been avoided.

 

Foreclosures over 125,000 September
Unemployment in double digits
Homeless population increasing
National Debt at all time high.
Deficit 8 times what it was just 2 years ago
Dollar at an all time low.

Do you really want me to go on?

 

Firstly, you can't blame just one party. Sorry, but the dems have had control for years now, so they're just as responsible as the repubs are. Just because the figurehead (Bush) was republican doesn't mean they're responsible for the issues. In fact, if you get down to it, the major problems DIDN'T start until the dems took control, blocking each and every thing the repubs tried to do!

I'm not saying one side is good, the other is not, because they're both scum of the earth as far as I'm concerned (any U.S. politician is), but you can't blame one side when both sides were equally involved.

Secondly, REALLY? Drink from the kool-aid much? You think that the economy is on the 'mend'? REALLY ? How many foreclosures were there last month alone? How about the joblessness? Improving? Nope, it's still MUCH worse than it was when Bush left office. The dems WANT you to think that the economy is improving, simply because then you think they've done their job. Sadly, this is not true!

 

Very very true.

 

Breeze Wood, meditate, repeat these words over and over until you get it... "More Debt Does Not Equal Lesser Debt...More Debt Does Not Equal Lesser Debt...More Debt Does Not Equal Lesser Debt..."

 

Compare the economy that was balanced and paying down the national deficit with the Clinton Liberal Administration as what the Republican Bush Administration started with and completely abandoned for their self serving tax redistribution to the middle class, unfunded and meaningless Iraqi war, and the principals and philosophies precipitating the largest recession since the Great Depression.

tw75, why were the Democrats being given the reins of gov't if not for the maleficent results of the Republican Administration and for those purposes the economy is on the mend per the legislative accomplishments of the past two years. The results are appreciating daily as indicated by the national exchanges.

The Irony is in the depth of the recession not in its remediation.

 

Breeze, the deficit was around $290 billion when Clinton took office.

Let's forget for a moment about the fact that the Republican Congress of 1994 lowered that and created a surplus.

Breeze, the deficit was actually at its lowest in four years in 2006 (post 9/11/2001) with complete Republican control ($247.7 billion).

Breeze in 2004 Bush made a campaign pledge to halve the deficit by 2009.

He did that in 2006.

Breeze the deficit grew as the result of a tragedy and later events because of it that unfolded after 9/11/2001.

Two wars, which you constantly remind all of us about. New agencies at home to deal with terror, and the costs for rebuild a collapsed financial center that lost nearly 1/4 of its value in about 45 minutes.

The deficit was on a downward trend post 2004 and kept going downward until democrats took over again.

Bush did all this while cutting taxes. Go figure... Revenue to the fed also rose over that same period. The Bush admin cut spending in the Executive branch by nearly 11% each of those years.

The democrats took a deficit that was less than what Clinton walked into and took it from $240 Billion to over 1.3 TRILLION.

You are making a complete ass of yourself every time you post here. Many of us were alive over these many years, and have very good memories slated in reality.

 

They were given the reigns because people were tired of Bush and his agenda and war. Just like the repubs will be given control here in, oh about 2 weeks for the same reason.

Wow, so 'legislative accomplishments' = economic growth? Nice to know that. Think again junior.
Economy has nothing to do with 'legislative accomplishments' and everything to do with fiscal growth. Google puts it best:

Nothing's being produced or distributed right now, or, let's just say LESS than when Bush was in office. Consumption? Well, of course the same answer.
The economy is not 'recovering', no matter what your party may tell you. If it were, you wouldn't see foreclosures on the rise, unemployment on the rise, and consumer spending on the decline. That's the OPPOSITE of economic growth

 

tw75, What is being discussed above is the depth of the recession and the time for recovery that you are correct about in taking an inordinate amount of time.

The recession ended a year ago which means the GNP has been improving for + 12 months which is - the system of production and distribution and consumption.

The markets are the heart of the American economy and at present have clearly been in an upward bias since July and all indications to date are for a full recovery over time.

It is not that the economy is not improving as it is but how deeply the Republicans damaged its structure to placate those who have most been put at disadvantage by it that ironically the Republicans are now using to their undeserved advantage in the present elections.
.........

Mia, The Bush Administration and both Chambers of congress were Republican that came after the Clinton Democratic Administration balanced the budget and were paying down the deficit - at the end of the Bush Administration not one year had a balanced budget and with each successive year there was an increase in the deficit - no time in American History has a gov't lowered tax during a war or time of need - The Republicans placed their needs over the needs of the nation and fiscally drove the economy into a near Depression.

 

You keep on drinking that kool-aid.
The recession did NOT end a year ago, you've just got your head so far up the party line you can't actually see anything you're not told.
Employment, is it down or up from a year ago? Sorry, it's down (note: I didn't say unemployment, I said employment)
Foreclosures? up or down from a year ago. Considering that last month was record foreclosure month, you guessed it, up.
Spending? Up or down. Once again, you guessed it, down.... waaaaay down.
The system of 'production and distribution' , up or down? Sorry kids, once again, down... So far down in fact that institutions that have been alive and well in towns for 30+ years and can take a bit of a hit have filed for bankruptcy. Why? Because there is no 'distribution. WHY is there no distribution? Because nobody's got money. WHY does nobody have money? Because there's no production (ie: no jobs).

Even worse is the fact that you people keep believing this same lie over and over again. Obama has continued the tax increases, which are killing our country and our jobs, yet you fools keep believing this man and his party's rhetoric. ENOUGH already. There has YET to be one SINGLE sign of improvement. Stop saying this is over, because it's NOT. Stop saying it's improving, because it's NOT. The only way it WILL improve is if the idiots in charge stop making business pay out the tail end for everything. Of course, that's not going to happen any time soon!

 

As much as I despise the Obama administration and his short bus teleprompter politics, I must say that the economy is not as bad as it once was. I am seeing a nice shift in new business these last few months. My clients include dentists, chiropractors, plumbers, attorneys, metal workers, contractors of all sorts, cosmetic surgeons, and lawn mowers. I am seeing more business being done by the majority right now and the upward spiral is not just local to me. I have clients all over the US and a few in Canada. I am not saying the recession is over, but.. it may be getting to the point of starting to be over.