• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Horror for US Economy as Data Falls off Cliff

zimmer

zimmer

Educating the Ignorant
Banned
DP Veteran
Joined
Dec 19, 2008
Messages
24,380
Reaction score
7,805
Location
Worldwide
Gender
Undisclosed
Political Leaning
Conservative
News Headlines

"It seems that almost every bit of data about the health of the US economy has disappointed expectations recently," said Riddell, in a note sent to CNBC on Wednesday.

Pointing to the dramatic turnaround in the Citigroup "Economic Surprise Index" for the United States, Riddell said the tumble in a matter of months to negative from positive is almost as bad as the situation before the collapse of Lehman Brothers in 2008.
Click to expand...
Let's spend even more. Raise taxes. Create more regulations and burdens!

Yes We Can!

Back towards a US double-dip

By Robert Reich (Clinton Economist)

Published: June 1 2011 12:51 | Last updated: June 1 2011 12:51

The US economy was supposed to be in bloom by late spring, but it is hardly growing at all. Expectations for second-quarter growth are not much better than the measly 1.8 per cent annualised rate of the first quarter. That is not nearly fast enough to reduce America’s ferociously high level of unemployment. ...there has been no sign of a surge in hiring. Nor in wages. Average hourly earnings of production and non-supervisory employees – who make up 80 per cent of non-government workers – dropped to $8.76 in April. Adjusted for inflation, that’s lower than they were in the depths of the recession.

Meanwhile, housing prices continue to fall. They are now 33 per cent below their 2006 peak. That is a bigger drop than recorded in the Great Depression. Homes are the largest single asset of the American middle class, so as housing prices drop many Americans feel poorer. All of this is contributing to a general gloominess. Not surprisingly, consumer confidence is also down.

The recovery has stalled. It is unlikely that America will find itself back in recession but the possibility of a double dip cannot be dismissed.

http://www.ft.com/cms/s/0/aa81cf92-8c3f-11e0-b1c8-00144feab49a.html#axzz1O4Npu4kR
Click to expand...


Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything," Yastrow said. "We’re on the verge of a great, great depression. The [Federal Reserve] knows it.

"We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer."
http://www.cnbc.com/id/43236764
Click to expand...

zimmer-albums-conservitoons-picture67113169-reagan-gorby-obama-sam.jpg


.
 
Last edited:
Yeah, I mean man, look at all those extra taxes I've been made to pay since Obama took off-

Oh wait.
 
Deuce said:
Yeah, I mean man, look at all those extra taxes I've been made to pay since Obama took off-

Oh wait.
Click to expand...

That's not what the photo implies...

And the housing prices still continue to fall in many places...
 
Last edited:
Many figures dropping is actually a good thing, because if they didn't consumption would be raising the debt even more. It's cheaper to put people on government checks vs. keeping them in full time jobs or letting them fall into a criminal dilemma with no benefits. The effect is a reduction if consumption and a lowered debt. Welfare is our friend right now. If you get too stingy, and both refuse welfare and full time work, you will create a criminal which is far more expensive than either.

We must face that all these figures must drop until things get balanced. The only other alternative is to increase our international exports (not inter-state) to a level that keeps up with our debt and that is not going to happen any time soon. Things have gotten too far behind at this point and we are left with the only solution: downsizing everything while maintaining sustainability for everyone so they can get back to work once called.
 
Last edited:
Μολὼν λαβέ;1059532556 said:
That's not what the photo implies...

And the housing prices still continue to fall in many places...
Click to expand...

And there is a whole lot of uncertainty because people see an administration hostile to business and illiterate on the subject.

And if we speak about taxes... what was their jawboning about taxing Cap Gains though it would reduce government revenue, and taxing at the 250,000 level?

Their meddling in the housing market has been an outright disaster; compounding a problem they created.

A 62% Top Tax Rate?
Democrats have said they only intend to restore the tax rates that existed during the Clinton years. In reality they're proposing rates like those under President Carter.
Stephen Moore: A 62% Top Tax Rate? - WSJ.com
Click to expand...

EOR: Reich is a Clinton economist who fits into the Keynesian School and he's got warning flags up. No matter which way you cut it... it ain't good.
"If [small businesses] can get the bank loans to boost their payroll... they will do so."
Barack Hussein Obama
Click to expand...
Businesses do not take loans to meet payroll.

OBAMA+TRICYCLE.jpg

Rolling Blunder!

.
 
Last edited:
Until Obama is gone there will be recovery because he has no damn idea what to do or how to go about it.


For all the talk about how brilliant Obama is, I find it curious that he has been wrong at every turn on the economy and and is still hiding his school records, that many say show that he just got by with very poor grades.


Why else would he go into community organizing in stead of a real business. Hell he didn't even write the books that made most of his money.
 
Councilman said:
Until Obama is gone there will be recovery because he has no damn idea what to do or how to go about it.


For all the talk about how brilliant Obama is, I find it curious that he has been wrong at every turn on the economy and and is still hiding his school records, that many say show that he just got by with very poor grades.


Why else would he go into community organizing in stead of a real business. Hell he didn't even write the books that made most of his money.
Click to expand...

LOL

Lets see...

Bush, who only got into schools because of his name, only avoided going to Vietnam because of his connections and managed to bankrupt several businesses before he turned his eye on politics... and bankrupted the US with his policies.. Yea your problem is clearly Obama.....:roll:
 
PeteEU said:
LOL

Lets see...

Bush, who only got into schools because of his name, only avoided going to Vietnam because of his connections and managed to bankrupt several businesses before he turned his eye on politics... and bankrupted the US with his policies.. Yea your problem is clearly Obama.....:roll:
Click to expand...

Once again a post that has nothing to do with the topic at hand.

This is like a kid who was caught in the cookie jar and jumps up and says will Billy did it too.

Try not to divert attention from the topic.
 
Deuce said:
Yeah, I mean man, look at all those extra taxes I've been made to pay since Obama took off-

Oh wait.
Click to expand...

Oh, wait folks, Deuce didn't have "any extra taxes", so obviously it must be Bush's fault.
 
Rather Obama than an ignorant red neck i tell you that! Even though i hate Democrats and would prefer a Republican presidency.
 
Councilman said:
Until Obama is gone there will be recovery because he has no damn idea what to do or how to go about it.
Click to expand...
Business has lost absolute confidence in this administration, and the only way they can get it back is to do a 180 on their policies and rhetoric. We know that isn't going to happen, so business will suffer, and like always, the little guy will take it in the teeth the hardest.

It reminds me of the disaster the luxury tax placed on the boating industry during the Clinton Years.
Boat Luxury Tax Drives an Industry Aground - Letter - NYTimes.com
Since the luxury tax came into effect last Sept. 30 for newly ordered boats, nobody has bought a new boat on which the tax would apply! The National Marine Manufacturers' Association, the industry association that tracks such things, can't find a single sale in the whole country! Not one! However, the association has been able to document in excess of 100,000 layoffs (blue-collar workers -- not fat cats) and numerous boat manufacturers going out of business. All during which not a single dollar of luxury tax has been collected.
Click to expand...
The tax was quietly repealed after the damage was painfully obvious.

A couple days ago Haymarket asked the following question, and my answer was... "In a word... Yes.
haymarket said:
So you are against government giving tax breaks to one business over others providing them with an advantage enabling them to be a winner?
Click to expand...
He never asked why, perhaps knowing the answers.
1. Government shouldn't be picking winners and losers... favoring one industry over another. WTF do they know about business, ideas and the billions of directions it can go daily?

2. Haymarket revealed low taxation is good for businesses... giving them the advantage to help them become "winners". More important today in a truly global market with instant access to info.

3. Winners hire people, wages rise due to the competition full employment brings, and all boats rise, to steal a phrase from JFK.

4. All businesses should enjoy equally low tax rates... for the good of the nation. The problem is Democrats/Socialists have injected America with a poison... jealousy. Where people believe they are entitled to the fruit of other people's labor.

Economic illiteracy is dangerous, and we have a very dangerous man at the helm. His and his party's perverted ideology is bearing a very poisonous fruit.

.
 
Last edited:
Obama or not.

I simply do not see anything that can jump start the US economy.

You don't make anything, so we're not going to buy anything from you, and there's no new "thing" around the corner for you guys to buy to spur spending and create real growth.

Economies are bigger then their leaders and yours I'm afraid to say, would be in this situation with, or without Obama... for it took a long time to put you in this place.
 
Jetboogieman said:
Obama or not.

I simply do not see anything that can jump start the US economy.

You don't make anything, so we're not going to buy anything from you, and there's no new "thing" around the corner for you guys to buy to spur spending and create real growth.

Economies are bigger then their leaders and yours I'm afraid to say, would be in this situation with, or without Obama... for it took a long time to put you in this place.
Click to expand...

We could be out of this recession and booming again in two years. But that path lacks political "power" and would "tax the poor". So we'll have to wait till things get worse to go there.
 
MrVicchio said:
We could be out of this recession and booming again in two years. But that path lacks political "power" and would "tax the poor". So we'll have to wait till things get worse to go there.
Click to expand...

And how are you going to be out of a recession and booming? What force do you think would drive such a boom?

(these are the questions no one can answer, there's more to an economy then Republicans and Democrats)
 
Jetboogieman said:
And how are you going to be out of a recession and booming? What force do you think would drive such a boom?

(these are the questions no one can answer, there's more to an economy then Republicans and Democrats)
Click to expand...


Three Simple Steps to Economic Recovery:

1. Repeal Obamacare. It's a boondoggle that's going ot costs jobs and retard growth for YEARS.

2. Greatly curb the EPA's over reaching (think the CO2 regulation attempts)

3. Americans For Fair Taxation: Americans For Fair Taxation
 
Jetboogieman said:
Obama or not.

I simply do not see anything that can jump start the US economy.

You don't make anything, so we're not going to buy anything from you, and there's no new "thing" around the corner for you guys to buy to spur spending and create real growth.
Click to expand...
ROTFLOL... Obama or not... Oi vey.
You obviously weren't around when Carter was president.

WE DON'T MAKE ANYTHING? That's flat out retarded.
From 2007:
Total employment figures only tell part of the story, though. The percentage of U.S. workers employed in manufacturing has dropped from 16.5% in 1987 to 10.8% today. Even so, as the National Association of Manufacturers (NAM) points out, when you consider that manufacturing accounts for $1.5 trillion in gross domestic product (GDP), if U.S. manufacturing was a country, it would be the eighth largest economy in the world.
IndustryWeek : The Face Of American Manufacturing
Click to expand...
What we need is policy that is business friendly.

Economies are bigger then their leaders and yours I'm afraid to say, would be in this situation with, or without Obama... for it took a long time to put you in this place.
Click to expand...
Go back and study Carter and then Reagan, and how a country that was "written off" back in the late 70's came back with a vengeance in the early 80's and fueled growth for almost 3 decades.

I don't see bubbles as bad either, so long as they are funded by the private sector. The tech bubble Clinton enjoyed brought a lot of good... but there was irrational exuberance... and people that thought they could make easy money learned hard lessons. Lessons they really should have learned in school about markets and how they function. The housing bubble was largely government induced due to idiotic legislation forcing banks to make bad loans.

Too bad the politicians were irresponsible with the revenues.

You're as illiterate economically as Obama.

.
Click to expand...
 
Last edited:
Councilman said:
Once again a post that has nothing to do with the topic at hand.

This is like a kid who was caught in the cookie jar and jumps up and says will Billy did it too.

Try not to divert attention from the topic.
Click to expand...

It has everything to do with the topic. It was his highness GW soup for brains that created this depression.
 
"Change is coming to America"! Has anyone seen "good" change yet?
 
Growth is slowing in all area's of the globe as stimulus (economic life support) continues to vanish. Now, it becomes a matter of, "is the private sector capable of growing without stimulus?"
 
zimmer said:
Let's spend even more. Raise taxes. Create more regulations and burdens!

Yes We Can!
Click to expand...

Yeah, Boehner's out there spanking the President pretty good.

What happened to the historic, decisive victory the Republicans won in 2010? Why haven't they fixed everything yet?

They control half the government, so how come they get to lay all the blame at Obama's feet?
 
Last edited:
TacticalEvilDan said:
Yeah, Boehner's out there spanking the President pretty good.

What happened to the historic, decisive victory the Republicans won in 2010? Why haven't they fixed everything yet?

They control half the government, so how come they get to lay all the blame at Obama's feet?
Click to expand...

:blink: I can't tell if you are being sarcastic or really are wondering why the GOP hasn't done more...
 
You must log in or register to reply here.
Back
Top Bottom