Forum Post: 'Double-dip recession inevitable' ('Crappy Birthday to Me!')
Posted 12 years ago on Feb. 24, 2012, 4:49 p.m. EST by economicallydiscardedcitizen
(761)
This content is user submitted and not an official statement
'Crappy Birthday to me! Crappy Birthday to me! The economy is in the Sh&er! 'Crappy Birthday to me! Yes, today is the anniversary of my birthday which, historically has proved to be a disappointing non-event for numerous reasons, ie: it's a few months after Christmas and of course the 'ides of March' taxes are on everyone's mind and whatever is left for gifts has already been spent on Valentine's Day so who the hell wants to remember someone's birthday in February? Here's a lovely example of the anniversary of my birthday letting me know to, as George Carlin the late great comedian would say to those who would tell him to 'Have a nice day!' he'd reply: 'Fu&k you, I'm going to have a Crappy Day!' So, in addition, gas is up to $5 per gallon adding credence to terms such as 'Fu%*k Me!' By the way I like to look at things through a humorous lense so don't get too bummed about today's (Not!) rosy news: http://money.cnn.com/2012/02/24/news/economy/double_dip_recession/index.htm?iid=HP_LN 'Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, said on Friday that his research firm is sticking with the forecast it made in September: A new recession is inevitable, despite improvement in high-profile economic indicators, such as job creation and unemployment, and a stock market rally.' 'ECRI is one of the more widely respected firms on economic recessions, as it has never been wrong when forecasting that a recession would start, or failed to predict a recession well before it was widely accepted.
Achuthan predicts the recession will happen even without a new shock to the economy, such as a spike in oil and gas prices or a Greek sovereign debt default sparking a financial meltdown. If those things occur, he says they will simply make an inevitable recession more painful.
In fact, Achuthan said data gathered since his September forecast only confirms his view that economic growth has slowed to such a degree that a downturn is now unavoidable, likely by late summer.'
Look on the bright side: whatever brings down the price of our country land, is far better for american familes in the long run than to continuously slave away for 30 years to obtain it.
Sure that's until rich landlords, realty trusts, and development companies as well as rich businessmen from China perform land grabs (which they are currently doing) price set, and then rent them out to us at astronomical rates compared to our wages. (will this be us?) http://cnnphotos.blogs.cnn.com/2012/01/08/hong-kongs-poor-living-in-cages/
Double dip? when did we get out of the first recession?? We all more like on the leading edge of a major depression
Why is it so hard for people to understand we are broke? We're 16 trillion in the hole and if Obama's proposed budget for 2013 were adopted there would be no viable way to ever get out of debt again.
In 20 years there will be no SS or Medicare...none. There is no way to remedy this as of this moment. The left has fantasies about taxing the rich or just printing up whatever we need but they can't comprehend the damage we've done. Look at Greece, it's our future but 1000% worse because there will be no one to bail us out.
[Removed]
I really don't think the people care about the enormous debt. It's not real to them. Jersey Shore is real to them. Dope is real to them. Congress doesn't care. Obama doesn't care.
we will all care when our money fails to allow us to buy food and other necessities, truckers strike and grocery and pharmacy shelves are nearly or competely empty along with discontent leading to riots...
True, but all that is a long way off.
I never believed the last recession behind us, only that we were riding a bucking horse: sometimes you're up and sometimes you're down. We may get thrown in the next round.
why does anyone need an economist to tell them this? are people really not smart enough to see for themselves? did anyone actually believe that a couple million jobs eliminated would reappear? well they are not and they wont, until we start charging the equal amount for imports to force companies to produce products here at a lower cost than producing them overseas.
I don't know whether to laugh or cry at this post.
I was saying mid summer, but I am actually expecting it around June. We may not actually hear about it till much later like the last dip. So to know when, you'll have to look at the volume in the markets not the index value. Low volume indicates less investors are propping up the markets.
http://www.gallup.com/poll/152753/unemployment-increases-mid-february.aspx
In 2008 I received a free sample copy of Kiplinger's newsletter that cryptically (and I paraphrase) said that 'American Jobs would not come back' and in April of 2008 my mortgage and real estate company folded effectively laying off a little over 200 of us in the San Francisco Bay Area. I'm going to put a best guesstimate on comments concerning phrases used such as 'markets (no matter which ones, be they real estate or general economy) not returning any time soon' or simply not returning soon' to mean time frame increments of 15 to 20 years. The Failure to quantify statements by assigning a clear amount of time by substituting vague statements such as 'soon' is always suspect and even when they do, as they did in 2008 saying things like the real estate and mortgage markets would return in 2010 having lived through a few recessionary cycles including the S&L Crisis I knew that with indicators in 2008 that the statement of markets returning in 2010 really meant a realistic 2020...