United States Heading towards a Depression?

Same to you. Happy New Year to the "Depression Thread" posters. How is that for a paradox ?

 

In 2009, household wealth in the United States fell 11.1 Trillion dollars.

This is the change the American people voted for; I hope they are happy with it.

 

As you well know Stockman was an original engineer that unwittingly helped create the Reagan economic model and likewise abandoned the endeavor while fundamentalist knew better than to ever have anything to do with Reagonomics.

Someday the fact GDP has been positive for every quarter since June 09 will register even for the never die reactionaries incased in their mile deep bunkers....with (what in the hell) has 10000 day traders in China have to do with anything pertaining to anything much less the DJIA - they will all be bankrupt in two weeks.

"2011 has the following dangers" - Ok, once again - "the Bull Market climbs a wall of wory"..... so far $$$$, the current Administration just like its predecessors are looking at the 4th year out.

Bernanke is quite visible and will be held accountable for QE2, the situation calls for bold action and unlike most Bernanke is willing to accept the responsibility and continue with the legitimate strategy that so far has proven successful.

Only the reactionaries run from the previous Administrations calamities, to try and blame others for their own failures.

 

If you can prove this I will send you money myself. When I say "prove" I also mean see it happen and how it will be done. For now, they are not accountable to anyone. They keep failing and saying "sorry", meanwhile the American people are saddled with not millions, not billions, but TRILLIONS of dollars of debt TODAY and for generations to come.

Who is going to pay that ? ​

 

And at the same time GDP grew

 

The previous Administrations economic policies caused the longest and deepest recession since the Great Depression lasting from Dec. 07 to June 09 requiring the present Administration to implement the most far reaching and dynamic economic policies that in one year curtailed the Republican recession and began the upturn described above and has continued with positive quarterly returns unabated to this date.

Spencer, Mia etc. live in a condition of self-denial and an irrational disregards for their own economic prognostications that if left unchecked will return the nations economy into a secondary recession of negative quarterly growth translating to a general Depression for an extended and unknown period of time this country has no reason to be subjected to.

 

Breeze, you do realize that positive GDP means nothing when you spend an ever increasing larger percentage of that GDP?

For America to survive, we need to go back to post WWII spending of 20% or less of GDP. Right now we're continuing the trend of spending more than we make and when we show modest gains, and we just continue to increase our spending what we really have is a NET LOSS. Once you're old enough to live on your own you'll find that you cannot spend more than you make for very long.

The policies that have contributed to the current economic recession are a direct result of actions taken post Great Depression and accelerated from well intentioned methods of putting people to work to a climate that breeds pure dependence and over indulgence on the backs of those that create wealth.

There's only one person in denial here kiddo, and its you.

 

I think a good parallel in the 1970s. Jimmy Carter and the Democrats let inflation get out of control. But, short term the economy was growing. GDP growth was 3.2% during 1978 & 1979. It took awhile before inflation caught up to the economy. From the 1973-1975 recession, it was 5 years. So, we may have 3-4 years before the whole thing blows up if we are lucky.

Another parallel is that States are cutting back on Police. In NJ, most towns are cutting their police forces by 10%. One of the biggest sources of the 1970s urban decay was the high crime rate.

After the double dip recessions of 1980 and 81-82 GDP grew at 10.6% in the second quarter of 1983.

When you consider that the national debt has grown by $6 trillion since the democrats have taken control of Congress and $3 trillion in the first two years of Obama, 2.6% GDP growth is a joke. In plain English, $1 trillion in TARP, $1 trillion in stimulus and $100 billion+ added to the National deficit each month, and all we got is 2.6%

It's going to be next to impossible to cut spending. Popotalk reaction was a good example from our discussion on the costs of illegal immigration. Nobody wants to give up the freebies.

http://www.msnbc.msn.com/id/40903384/ns/politics-the_new_york_times

 

Haven't been here in awhile so I need to catch up.

No.

It's always enlightening to know one's ancestory. In a strange way, it helps to put the present in perspective.

The most popular occupation for a single mother is waitress/hostess. Here in Boston, we have scads of Brazilians that are here illegally. They can be easily paid under-the-table - for you non-Americans, that means they can be paid cheaper than a US citizen and no taxes are taken out (both of which are illegal). These illegal Brazilians are taking jobs away from single mothers and college students.

Last year (2010) I sat on a jury for the first time. The case was a Brazilian mother & daughter that were here illegally. They were not the ones on trial... see, for years they had been gaming the system to stay here. The law says that if you are here illegally and you report a sexual offense committed against yourself, you get a temporary green card. So, over the past 10 years, this woman had been reporting rapes, sexual assaults, etc. against neighbors, police officers - and in the trial I sat on she had charged the good undercover Immigration Officer that tried to deport her for sexual assault. The charges were laughable and it took us 45 minutes to find him Not Guilty. But the pain and anguish that this good man had to go through for being charged with a sexual offense that he obviously did not do was obvious on his face. The relief he felt as we pronounced him Not Guilty was one of the most emotionally powerful experiences of my life - I could actually feel it from across the court room.

Your bigotry and prejudice against Americans is obvious in your statement. Would you be offended if I prayed for you, I wonder?

This is one of the most spot-on analyses I've seen.

But, from my perspective, it's all about waste. For example, I remember seeing a study saying that the USA spends enough on poverty programs to give everyone under the poverty line in the USA $100,000 per year. However, the average person in poverty only receives something like $8,000 in yearly aid. That's a staggering amount of government waste.

It used to be that the government was set up to support the people. Now, it's more like the people exist to support the existence of government.

Happy New Year, Everybody!

 

It was just pointed out to me that, for one of my companies, I am paying $47k/yr for unemployment insurance. That's half an FTE!

That expense raises the cost of doing business, which undoubtedly means that some businesses will have to lay employees off to pay for unemployment insurance.

 

To add to that. Remember when Obama and company said they were going to reduce the unemployment compensation contribution by 2% to help employees make a little more money by having less taken out of their check? Guess who gets to pay for it? That's right, the employer.

 

If layoffs are needed, just have the manager go to the parking lot, see who has the Obama stickers on their cars, and give them the pink slip in an envelope along with a note that says "The change you voted for just arrived... good luck".

 

Love it. I mentioned on another thread that 80% of the cars in Berkley still have Obama/Biden 2008 stickers on them. I had the evil thought to make up a few Palin 2012 stickers, put them on the nicest cars in the lot, sit back and have a cup of coffee, and watch compassionate liberalism at it's finest.

 

Which only serves to push unemployment even higher. I can hire a person outside of the U.S. for less than the cost of the FICA, FUTA, SUTA, WkComp, and insurance that I pay for an equivalent U.S.-based person. This is without even considering the salary of the U.S.-based person. This is why I now have more than twice as many non-U.S. employees as U.S. employees. The U.S. government has made doing in business in the United States uneconomic.

I'm lucky. My team does a pretty good job of weeding out liberals during the interview process. This may be why we haven't had to do any layoffs.

 

Interesting how the above are responsible for the deepest and longest recession since the Great Depression and have nothing in remorse than to blame others for their own mismanagement.

The reason unemployment insurance goes up is when the dismissed employee files a claim for compensation - your people have chosen poorly Spencer, fire their asses and start hiring a quality person for a change.

 

It's not my people who are collecting unemployment you idiot.

 

Ah... that is classic, but as I thought about it, it is also tragic, since it is probably going to happen anyway.

 

There is no other reason than your previously employed personnel are choosing to petition for unemployment compensation rather than finding other work for your rates in just one company to be increasing.

Try finding people of distention to employ who find other work than choosing unemployment compensation when dismissed which in your case means people who are not fellow right wing zealots.

My rate by the way is .0021%, all good people - the rate for some is 5.4% which indeed is a reason not to be thin skinned in hiring.

 

Breeze, are you off your meds again?

 

Unlike you Corwin, facts speak for themselves. Running from the previous Administration will not solve your problems.