United States Heading towards a Depression?

Woah, steady now. We have Americans in here. The forbidden is to them as garlic is to a vampire!

 

Not everyone speaks Swedish Chef.

 

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http://users.snowcrest.net/donnelly/piglatin.html

 

Classic...

 

Global Slowdown to Hit by Summer, Even for U.S., Says Achuthan

http://finance.yahoo.com/blogs/dail...GUERhaWx5VGlja2VyQmxvZwRzbGsDZ2xvYmFsc2xvd2Rv

Jim Rogers predicts a new recession in 2012

Jim Rogers: "since the beginning of time" there has been a recession every four-to-six years, and that's mean another one is due around 2012.

With reference to Ben Bernanke, chairman of the US Federal Reserve, Jim Rodgers said: "Is Mr Bernanke going to print more money than he already has? No, the world would run out of trees."

http://www.telegraph.co.uk/finance/...-Rogers-predicts-a-new-recession-in-2012.html

 

Well, at least they recognize the recovery and the renewed spirit of Growth and Sound Management being administered by the present Administration.

A post, the world will come to an end, every six months will eventually come true as well.

Any clues to what specifically will derail the Recovery.....just as a curiosity for understanding?????

 

An economic recovery general consists of double digit GDP percentage gains, not printing more money.

Breeze, you're such a goof.

 

Goof isn't the word for it. He's screaming at us while he buries his fingers deep into his ears.

 

Sheeit, at least dey recognize da damn recovery and da damn renewed spirit uh Growd and Sound Management bein' administered by de present Administrashun.

A post, de wo'ld gots'ta come t'an end, every six monds gots'ta eventually mosey on down true as sheeit, beeatch.

Any clues t'whut da homies gots'ta do to derail de Recovery. Slap mah fro!....plum as some curiosity fo' dig itin'?????

 

Utah starts using gold and silver for currency....

LINK

History repeats itself...

 

Great news. I heard about this earlier today. I hope other states follow.

 

Carter/Obama doesn't work.

Housing is still a mess. Fannie/Freddie are bleeding money and more loses to come.

Home sales fall, despite uptick in 1st-time buyers
Fewer people purchased previously occupied homes in April, a troubling sign that the weak housing market remains a drag on the economy.
http://finance.yahoo.com/news/Home-sales-fall-despite-apf-1672163469.html?x=0

If inflation were calcualted using the same methods as the 1970s, the inflation rate would be 10%+

@ Breeze

You need to understand that the US in repeating Carter of the 1970s. Carter had a couple of average years in 1978/79. Unemployment actually went down to 5.6% during 1979. Then the inflation fueled double-dip recession hit and people didn't know what hit them.

How can you say the US is in recovery?

The 1970s style Decline in action

1973-1975 Recession - 2007-2009 Recession - Democratic Majority Senate/House "Out of Control Spending"
1976-1979 - 2010-2012 "Inflation Fueled Recovery" Jimmy Carter/Barry Obama
1980 Recession Jim Rogers predicts a new recession in 2012
1981-1982 Recession 11% uemployment & 20%+ interest rates

Jim Rogers predicts a new recession in 2012
Jim Rogers, the market sage, has warned the global economy is just two years away from another recession, but remains ill-prepared to cope with the after-effects.

http://www.telegraph.co.uk/finance/...-Rogers-predicts-a-new-recession-in-2012.html

Our Debt Binge Is Ending — And The Middle Class Will Get Clobbered
The US's $1.6 trillion-a-year deficit, Mauldin believes, must quickly be cut to about $300 billion a year, or the US will face a debt crisis.
http://finance.yahoo.com/blogs/dail...ddle-class-clobbered-20110405-094510-405.html


$2M Michigan lottery winner defends use of food stamps

Leroy Fick, 59, of Auburn won $2 million in the state lottery TV show "Make Me Rich!" last June. But the state's Department of Human Services determined he was still eligible for food stamps, Fick's attorney, John Wilson of Midland, said Tuesday.

Eligibility for food stamps is based on gross income and follows federal guidelines; lottery winnings are considered liquid assets and don't count as income. As long as Fick's gross income stays below the eligibility requirement for food stamps, he can receive them, even if he has a million dollars in the bank.

http://news.yahoo.com/s/yblog_local...gan-lottery-winner-defends-use-of-food-stamps

 

Jim Rogers (the market sage) predicts a new recession in 2012 - Really bogart, at least Rogers clarifies it will be a new one....and that far out - does the sage give a DJIA the day before, that might be interesting.


"there will have to be a deal" - McConnell seems less certain about his immediate future as well or is it the Congress he is worried about.


Pendulous clouds abound but until double digit interest rates, there will be no need for a Recession. Stagflation per the political atmosphere is a little more predictable.

 

I just couldn't resist doing this :

 

said it was time for "an adult conversation"


Something the Administrator of this Forum seems incapable of maintaining.

Retirement and health are subjects Americans are interested in - Recession begging, deficit spending Republicans (Iraqi) needing cover may have a soft spot in the New York Con 26 election tomorrow, good luck for their policies and principals the outcome will bring for them.

 

Carter was, unfortunately, also a failure to manage perceptions. For example, this was the public dialog:

Carter: There is no gas shortage!
People: What?
Carter: There is no gas shortage.
People: Who said anything about a gas shortage?
Carter: There isn't one.
People: There's a gas shortage?
Carter: No, there isn't a gas shortage. Don't panic!
People: PANIC! GAS SHORTAGE!

After Iran took hostages, public confidence in Washington nose-dived and so did the economy.

 

1. Reagan was a serial tax raiser. As governor of California, Reagan “signed into law the largest tax increase in the history of any state up till then.” Meanwhile, state spending nearly doubled. As president, Reagan “raised taxes in seven of his eight years in office,” including four times in just two years. As former GOP Senator Alan Simpson, who called Reagan “a dear friend,” told NPR, “Ronald Reagan raised taxes 11 times in his administration — I was there.” “Reagan was never afraid to raise taxes,” said historian Douglas Brinkley, who edited Reagan’s memoir. Reagan the anti-tax zealot is “false mythology,” Brinkley said.

2. Reagan nearly tripled the federal budget deficit. During the Reagan years, the debt increased to nearly $3 trillion, “roughly three times as much as the first 80 years of the century had done altogether.” Reagan enacted a major tax cut his first year in office and government revenue dropped off precipitously. Despite the conservative myth that tax cuts somehow increase revenue, the government went deeper into debt and Reagan had to raise taxes just a year after he enacted his tax cut. Despite ten more tax hikes on everything from gasoline to corporate income, Reagan was never able to get the deficit under control.

3. Unemployment soared after Reagan’s 1981 tax cuts. Unemployment jumped to 10.8 percent after Reagan enacted his much-touted tax cut, and it took years for the rate to get back down to its previous level. Meanwhile, income inequality exploded. Despite the myth that Reagan presided over an era of unmatched economic boom for all Americans, Reagan disproportionately taxed the poor and middle class, but the economic growth of the 1980′s did little help them. “Since 1980, median household income has risen only 30 percent, adjusted for inflation, while average incomes at the top have tripled or quadrupled,” the New York Times’ David Leonhardt noted.

4. Reagan grew the size of the federal government tremendously. Reagan promised “to move boldly, decisively, and quickly to control the runaway growth of federal spending,” but federal spending “ballooned” under Reagan. He bailed out Social Security in 1983 after attempting to privatize it, and set up a progressive taxation system to keep it funded into the future. He promised to cut government agencies like the Department of Energy and Education but ended up adding one of the largest — the Department of Veterans’ Affairs, which today has a budget of nearly $90 billion and close to 300,000 employees. He also hiked defense spending by over $100 billion a year to a level not seen since the height of the Vietnam war.

5. Reagan did little to fight a woman’s right to choose. As governor of California in 1967, Reagan signed a bill to liberalize the state’s abortion laws that “resulted in more than a million abortions.” When Reagan ran for president, he advocated a constitutional amendment that would have prohibited all abortions except when necessary to save the life of the mother, but once in office, he “never seriously pursued” curbing choice.

6. Reagan was a “bellicose peacenik.” He wrote in his memoirs that “[m]y dream…became a world free of nuclear weapons.” “This vision stemmed from the president’s belief that the biblical account of Armageddon prophesied nuclear war — and that apocalypse could be averted if everyone, especially the Soviets, eliminated nuclear weapons,” the Washington Monthly noted. And Reagan’s military buildup was meant to crush the Soviet Union, but “also to put the United States in a stronger position from which to establish effective arms control” for the the entire world — a vision acted out by Regean’s vice president, George H.W. Bush, when he became president.

7. Reagan gave amnesty to 3 million undocumented immigrants. Reagan signed into law a bill that made any immigrant who had entered the country before 1982 eligible for amnesty. The bill was sold as a crackdown, but its tough sanctions on employers who hired undocumented immigrants were removed before final passage. The bill helped 3 million people and millions more family members gain American residency. It has since become a source of major embarrassment for conservatives.

8. Reagan illegally funneled weapons to Iran. Reagan and other senior U.S. officials secretly sold arms to officials in Iran, which was subject to a an arms embargo at the time, in exchange for American hostages. Some funds from the illegal arms sales also went to fund anti-Communist rebels in Nicaragua — something Congress had already prohibited the administration from doing. When the deals went public, the Iran-Contra Affair, as it came to be know, was an enormous political scandal that forced several senior administration officials to resign.

9. Reagan vetoed a comprehensive anti-Apartheid act. which placed sanctions on South Africa and cut off all American trade with the country. Reagan’s veto was overridden by the Republican-controlled Senate. Reagan responded by saying “I deeply regret that Congress has seen fit to override my veto,” saying that the law “will not solve the serious problems that plague that country.”

10. Reagan helped create the Taliban and Osama Bin Laden. Reagan fought a proxy war with the Soviet Union by training, arming, equipping, and funding Islamist mujahidin fighters in Afghanistan. Reagan funneled billions of dollars, along with top-secret intelligence and sophisticated weaponry to these fighters through the Pakistani intelligence service. The Talbian and Osama Bin Laden — a prominent mujahidin commander — emerged from these mujahidin groups Reagan helped create, and U.S. policy towards Pakistan remains strained because of the intelligence services’ close relations to these fighters. In fact, Reagan’s decision to continue the proxy war after the Soviets were willing to retreat played a direct role in Bin Laden’s ascendancy.

Conservatives seem to be in such denial about the less flattering aspects of Reagan; it sometimes appears as if they genuinely don’t know the truth of his legacy.


source

 

My real worry is if they raise the debt ceiling again the only people who would buy our debt is our federal reserve through qe3.

 

It's possible. I mean not only has it happened before in America's history, but it's a pretty common thing at some point or another in the evolution of a country.

 

popotalk, let me answer your questions point-by-point.
1. The President doesn't raise taxes, Congress does (in at last two bills, the Democratic Congress overrode Reagan's veto and raised taxes)
2. The President doesn't increase the deficit, Congress does
3. The President can't affect the unemployment rate, Congress does
4. The President doesn't increase the size of government, Congress does
5. A candidate's campaign promise is as substantial as air.
6. "Peace through superior firepower"
7. What else was he to do, deport them? At least he didn't ignore the illegal immigration problem like other Presidents
8. Legal or not (and I'm not sure Reagan was involved) it was the right thing to do.
9. (anti-Apartheid?) Had Reagan sanctioned South Africa, it would have driven blacks there into poverty
10. Reagan didn't fund Afghanistan, the Democrats in Congress did. Watch "Charlie Wilson's War". They saved the lives of Afghan children.

Re-read the U.S. Constitution. The President does not run the country, Congress does. The President is directly responsible for foreign policy and commanding the military. He can't spend a dime without Congress' authorization.

Liberals seem to be in such denial about the US Constitution; it sometimes appears as if they genuinely don’t know how the government works.

In other news, US unemployment is at 8.7%. That means unemployment has dropped 1.5% in 2½ years. At that rate, the economy will recover in 2018.