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Fed Warns Unemployment May Double Great Depression
Big Government ^ | 11-25-11 | Chriss W. Street

Posted on 11/27/2011 5:29:36 AM PST by radioone

I warned last week that a recession and higher unemployment were about to hit the U.S. economy. On Tuesday, the Bureau of Economic Analysis cut their estimate of growth in the third quarter ending September from 2.5% to 2%. Then on Wednesday, the Federal Reserve rocked financial markets by forcing America’s 31 largest U.S. banks to “stress test” balance sheets to determine their capability to withstand an 8% drop in the economy; which would cause home prices to plunge by 21%, and unemployment rate to jump to 13%.

(Excerpt) Read more at biggovernment.com ...


TOPICS: Politics
KEYWORDS: depression; greatdepression; obama; unemployment
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1 posted on 11/27/2011 5:29:40 AM PST by radioone
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To: radioone

Citizen warns: Eliminate the FED.


2 posted on 11/27/2011 5:31:57 AM PST by PGalt
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To: radioone

Obama’s Fault.


3 posted on 11/27/2011 5:36:02 AM PST by Old Sarge (RIP FReeper Skyraider (1930-2011) - You Are Missed)
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To: radioone

The solution of course, is to ask Katie Courva what she’d do.


4 posted on 11/27/2011 5:37:54 AM PST by Track9
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To: Old Sarge

Yep.


5 posted on 11/27/2011 5:38:47 AM PST by comps4spice (Liberalism is a threat to life and liberty in the USA.)
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To: radioone

Buy American.

Before it’s too late.

Really. Stop screwing around.


6 posted on 11/27/2011 5:40:17 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: PGalt

Furlough Congress without pay. Eliminate benefits for this coddled class of human debris.

Who is the candidate that says he’ll slash 1 trillion in the first year? Who has dared say he’ll eliminate at least five government agencies during that first year?

Sounds like what America needs.

How many can remember when imported goods were few? Who remembers when there were no foreign countries that didn’t have many American automobiles on their streets?

Why do we need 143 different outposts spread throughout the world for our troops when there is war that goes unchecked on our southern border?

Why do we continue to put up with the evil that is Cuba located just 90 miles off our coast? Is it because the brothers Kennedy made a deal to save their cowardly faces with Kruschev that we have to forever live with?

Why is the Monroe Doctrine not used in relation to Venezuela, for example, that practices communism and gets along only with nations that hate America?

What is the Monroe Doctrine?


7 posted on 11/27/2011 5:41:07 AM PST by IbJensen (What this country needs are more unemployed politicians.)
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To: radioone

“Fed Warns Unemployment May Double Great Depression “
****************************

Amazing!
Like saying loss of a leg may affect your walking...

What next among little gems of wisdom from the online wizards....

;)

Semper Absurd!
*****


8 posted on 11/27/2011 5:45:18 AM PST by gunnyg ("A Constitution changed from Freedom, can never be restored; Liberty, once lost, is lost forever...)
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Comment #9 Removed by Moderator

To: F15Eagle

We all had a hand in this.

We destroyed our own industry.


10 posted on 11/27/2011 5:46:25 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: radioone
With the lies becoming unsustainable, by the media, and the true depths of the media lies bubbling to the surface. One should wonder, how will the media explain itself, once their lies can no longer be covered? Best guess .... media implodes fully or perhaps a few EMPs to make one final last ditch effort to cover. Would not put it past the media to have made a contract with weapons manufacturers to secure the EMPs. This is America, it cannot happen here. The media will be telling all which is worthy to hear. The media always does look out for the people and would never hold EMPs over our heads. This is America, it cannot happen here. Should a sarcasm tag be added?
11 posted on 11/27/2011 5:47:23 AM PST by no-to-illegals (Please God, Protect and Bless Our Men and Women in Uniform with Victory. Amen. --> AmeriCain)
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To: Cringing Negativism Network
Buy American. Before it’s too late. Really. Stop screwing around.

Since 70% of the economy is consumer spending, but 47% of all Americans are receiving some sort of Government check that is paid for with 40% debt (just this year), and a $15 Trillion dollar debt with $100 Trillion of unfunded liabilities - I'd say buying American won't help at this point.

12 posted on 11/27/2011 5:47:33 AM PST by SkyPilot
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To: radioone

Well, they should know ... they’re the parents of the baby.


13 posted on 11/27/2011 5:48:10 AM PST by knarf (I say things that are true ... I have no proof ... but they're true)
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To: SkyPilot

Well one thing IS certain.

Buying Chinese won’t help.


14 posted on 11/27/2011 5:48:38 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: SkyPilot

I’d say buying American won’t help at this point

But stocking up on food, water and the means to protect your family, like many have been doing WILL HELP.

The crap will hit the fan. It’s coming. Be prepared.


15 posted on 11/27/2011 5:51:05 AM PST by tennmountainman
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To: tennmountainman

We could turn this around immediately.

100% across the board import tariffs.

Plenty of jobs would return to American overnight. Wake up people.

We’re doing it wrong.


16 posted on 11/27/2011 5:52:48 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: Cringing Negativism Network

Hammm, less than 2.5% growth. I seem to remember one guy who talked about generating growth by revising the tax system ... who was that fellow? Didn’t he talk about a 999 plan or something?

Hmmm, I guess we took him to the woodshed, though, a while back ... made too much sense for this country of utter morons, I guess.


17 posted on 11/27/2011 5:55:00 AM PST by LibsRJerks
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To: LibsRJerks

We don’t have growth.

We go further into debt by the minute.


18 posted on 11/27/2011 5:55:55 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: radioone
http://www.shadowstats.com/imgs/sgs-emp.gif?hl=ad&t=1321044468

13% unemployment?? We are already there.

19 posted on 11/27/2011 6:00:20 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: radioone

Deregulate...detax...the same minds creating the problem ..are not capable of a solution.

http://www.crainsnewyork.com/article/20110403/SMALLBIZ/304039984

http://www.sba.gov/advocacy/853/2016

The RinoCracy cannot admit to the idiocy their little minds are capable of...


20 posted on 11/27/2011 6:01:10 AM PST by mo
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To: mo

None of that will help, if we continue to fire Americans to outsource.

None of it.


21 posted on 11/27/2011 6:02:32 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: IbJensen
Furlough Congress without pay. Eliminate benefits for this coddled class of human debris.

Who is the candidate that says he’ll slash 1 trillion in the first year? Who has dared say he’ll eliminate at least five government agencies during that first year?

Sounds like what America needs...

Good statements/questions BUMP!

DEFUND socialist collectives, foreign and domestic. DISMANTLE when necessary. DEPOPULATE socialists from the body politic (start with anyone in the progressive caucus...how 'bout Marxine "the tea party can go to hell, and I will help them get there" Waters).

22 posted on 11/27/2011 6:03:35 AM PST by PGalt
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To: Cringing Negativism Network

We all had a hand in this.

We destroyed our own industry.


I agree, in the sense that we as a nation have rationalized and embraced immorality of all kinds. We then make foolish and lazy choices because we are cut off from wisdom. So the obsession with short term has brought us to the long term consequence.


23 posted on 11/27/2011 6:07:17 AM PST by ecomcon
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To: radioone

The Feds fear many will seek work elsewhere like Australia and thus deny them their taxes.


24 posted on 11/27/2011 6:08:58 AM PST by Eye of Unk (E-Cat is the future, unless we want to live in the past.)
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To: radioone
U.S. banks to “stress test” balance sheets to determine their capability to withstand an 8% drop in the economy;

Gee deficit spending is about 10% of the US economy, do the Feds know something?

25 posted on 11/27/2011 6:09:12 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: radioone
Given only 12.8 million were unemployed at the 1933 peak of the Great Depression, when the undercounting and the Fed’s stress test are added the total is 23.2 million unemployed; almost double the Great Depression.

This is the kind of crap for which Chicken Little is famous. The population in 1933 was about 125,500,000 and 1933 was the worst year for unemployment: 25%. So this bozo wants us to take the 12.8 million unemployed in 1933 and compare that apple to the fabricated orange of 23.2 million and not make any adjustment for population change. Someone please go tell his village we found their idiot.

26 posted on 11/27/2011 6:09:23 AM PST by econjack
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To: ecomcon

Our biggest problem right now is not morality.

It is industrial.

We are dismantling our own manufacturing. Are we really that brainwashed we cannot see what that is doing? How can anyone think destroying our own industrial base is a good idea?


27 posted on 11/27/2011 6:10:45 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: Cringing Negativism Network
We could turn this around immediately. 100% across the board import tariffs.

You do realize that would mean destroying every U.S. business that exports (Agriculture, Chemicals, Machining, etc.) right? U.S. exports are not minuscule, we just import a lot of oil and consumer goods. In fact, our strongest industries are the very ones that would be destroyed by an inability to export. Tariffs are never one way.

Your 100% across the board tariff will destroy major U.S. industries in return for low scale production jobs.

Much of the consumer crap that is now sold would simply go away if it weren't so relatively cheap (indeed we don't need it), so there would be no job creation.

Government Motors would lover your tariff though.

28 posted on 11/27/2011 6:13:23 AM PST by SampleMan (Feral Humans are the refuse of socialism.)
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Comment #29 Removed by Moderator

To: SampleMan

Look.

We export farm goods.

That’s pretty much it anymore. We will continue to export farm goods, because people need to eat.


30 posted on 11/27/2011 6:14:29 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: radioone

bookmark


31 posted on 11/27/2011 6:15:37 AM PST by GiovannaNicoletta ("....in the last days, mockers will come with their mocking... (2 Peter 3:3))
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To: Cringing Negativism Network

http://articles.businessinsider.com/2011-11-21/markets/30424589_1_industrial-production-chart-red-line

http://articles.businessinsider.com/2011-11-21/markets/30424589_1_industrial-production-chart-red-line


32 posted on 11/27/2011 6:21:49 AM PST by Prokopton
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To: Prokopton

Define “production”.

I suspect it pretty much means frozen pizza.

We sure aren’t adding jobs.


33 posted on 11/27/2011 6:23:40 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: Cringing Negativism Network

http://financialcontrols.blogspot.com/2011/11/usa-industrial-production-at-post.html


34 posted on 11/27/2011 6:24:25 AM PST by Prokopton
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To: Cringing Negativism Network
Look.We export farm goods. That’s pretty much it anymore. We will continue to export farm goods, because people need to eat.

The facts show otherwise:

http://www.worldsrichestcountries.com/top_us_exports.html

35 posted on 11/27/2011 6:25:57 AM PST by SampleMan (Feral Humans are the refuse of socialism.)
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To: Prokopton

How about you explain what you’re trying to say.

Thanks.


36 posted on 11/27/2011 6:26:21 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: SampleMan

Have you shopped for ANYTHING recently?

We don’t make things anymore.

Go out and look. No tools. No electronics. No computers.

Nothing. We only buy. That will stop soon enough, because we’ll run out of money.


37 posted on 11/27/2011 6:28:09 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: Cringing Negativism Network

Between the Greens and the Free Traitors the USA never had a chance. Like you said once why hasn’t anyone written a book about this? It is amazing.


38 posted on 11/27/2011 6:29:07 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: central_va

We’re not done yet.

But we best get our stuff together, and figure out we need to act.

Now. We don’t have a whole lot of time left. Already our import cost from China is approaching our military budget.

We’re getting poorer, less capable, and forgetting how to make things.

That’s very, very dangerous.


39 posted on 11/27/2011 6:32:08 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: SampleMan

A 5% tariff that escalates every year by 2% against countries that tariff us. Then the tariff is in the hands of the other countries. Just like China ties their currency to ours we tie our tariffs to theirs.


40 posted on 11/27/2011 6:33:49 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: radioone

All because we have an arrogant inexperienced community narcessist who was voted in by American Idol idiots who bought the sh## he was selling in a nice wrapper.


41 posted on 11/27/2011 6:36:44 AM PST by ronnie raygun (V)
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To: Cringing Negativism Network

“We export farm goods.

That’s pretty much it anymore.”

Not even close. Agricultural products are less than 12% of our total exports.

http://www.bls.gov/news.release/pdf/ximpim.pdf


42 posted on 11/27/2011 6:36:48 AM PST by Prokopton
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To: radioone

All because we have an arrogant inexperienced community narcessist who was voted in by American Idol idiots who bought the sh## he was selling in a nice wrapper.


43 posted on 11/27/2011 6:36:55 AM PST by ronnie raygun (V)
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To: Prokopton

Tell us what we still make.

I can name one:

Jetliners. Can’t really think of anything else we’re still selling a lot of.

Maybe Zippo lighters.


44 posted on 11/27/2011 6:38:44 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: Cringing Negativism Network
>>Buy American<< Why, are you an isolationist? Are you against free trade? Do you not agree with capitalism? What a hater!
45 posted on 11/27/2011 6:38:48 AM PST by servantboy777
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To: servantboy777

I am a protectionist.

Straight up. America first.


46 posted on 11/27/2011 6:39:51 AM PST by Cringing Negativism Network ("Galts Gulch" <> Communist China)
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To: servantboy777
We need to "Buy American" because the ChiComs appeared to have have bought American Politicians.

< radical > Walking into WalMart is an un-American act. < /radical >

47 posted on 11/27/2011 6:42:07 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Cringing Negativism Network
How about you explain what you’re trying to say.

I thought it was pretty self evident that, unlike your unsupported claims, the charts I cited to show US Industrial Production is rising and is going up at a rate typical of other post-recession periods.

48 posted on 11/27/2011 6:42:17 AM PST by Prokopton
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To: Cringing Negativism Network
We export farm goods. That’s pretty much it anymore. We will continue to export farm goods, because people need to eat.

Maybe not. With the Democrats continuing obstacles to our developing our own readily available and abundant energy sources while mandating pie-in-the-sky alternative energy sources like ethanol, we are creating shortages and increasing the prices of gasoline, wheat and corn. At some point other countries won't be able to buy our products.

49 posted on 11/27/2011 6:44:36 AM PST by Mind-numbed Robot
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To: Cringing Negativism Network
Tell us what we still make.

Maybe if you did a little research and educated yourself you would know the answer to these questions and not have to be continuously corrected on threads like this with your unsupported and inaccurate postings and your cringing negativism.

50 posted on 11/27/2011 6:46:21 AM PST by Prokopton
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