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The Coming Economic Collapse
Commodities Forex News ^ | 7/24/12 | Peter Morici

Posted on 07/24/2012 9:07:25 PM PDT by Kartographer

The U.S. economy is teetering on the brink of another recession. The bad news is that if it goes down again, there won’t be much we can do to save ourselves. Like a weary heavyweight, if the economy hits the mat again, it’s down for good.

The expansion has been terribly disappointing-growth is hardly 2 percent and jobs creation barely keeps unemployment steady at 8.2.

Manufacturing and exports powered the recovery but are now weakening. Consumer spending and existing home sales are flagging, because policymakers failed to aid underwater homeowners as generously as the banks.

President Obama is doubling down on slow growth policies-new restrictions on offshore oil and CO2 emissions, and pushing forward with financial regulations that haven’t stopped Wall Street banks from trading recklessly and rigging markets as indicated by the Libor scandal.

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


TOPICS: Business/Economy; Government
KEYWORDS: economy; shtf
It's not the fall that kills you, its the sudden stop.
1 posted on 07/24/2012 9:07:31 PM PDT by Kartographer
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To: Kartographer
Consumer spending and existing home sales are flagging, because policymakers failed to aid underwater homeowners as generously as the banks.

Anybody who makes a statement like that has little credibility as an economist. Policymakers shouldn't have bailed anyone out. They shouldn't have created the housing bubble in the first place.

2 posted on 07/24/2012 9:17:12 PM PDT by LouAvul
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To: LouAvul

When “Conservatives” say such things, it appears that we might win this battle, but will lose the war.


3 posted on 07/24/2012 9:23:46 PM PDT by jobim (.)
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To: Kartographer
I agree with what Rush said today.....American resiliency will overcome all obstacles.

As bad as things are now, we could be worse off. American resiliency is keeping this country from fully sinking despite 0bama’s being hell bent to destroy us.

American resiliency will also kick 0bama ass out of the White House come November.

4 posted on 07/24/2012 9:30:00 PM PDT by GR_Jr. (Vote Obama out now.....deal with Romney later.)
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To: LouAvul

That’s what popped out at me too. What an asinine idea it is to bail out an industry or a group of individuals.

This is supposed to be a capitalist country after all!


5 posted on 07/24/2012 9:32:03 PM PDT by Bobalu (It is not obama we are fighting, it is the media.)
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To: Kartographer

Just A Random Musing On China — And A Hindenburg
http://www.market-ticker.org/akcs-www?post=209119

How come nobody talks about this?

A straight up bubble-style rise, a dramatic fall, and on the retrace the market fails to regain the 61.8% level despite repeated attempts, putting in lower lows on each try.

What comes next?

A move all the way back down to the low, and the presumption is that it will fail and price will go to the -23.6% target.

Which would be 72.44.

Oh, the -61.8% target, which is next up if 72.44 doesn’t hold?

It’s below zero.

That’s the “wonder of the world” that is going to save us all, according to some....

No it’s not.

PS: There are those who called a Hindenburg yesterday. They’re correct. Worse, we had the requisite new highs and new lows (105/99) and the McClellan today (7/24) was negative.

This means the Hindenburg is now confirmed and presages a potential market crash some time in the next four months — and potentially as soon as tomorrow.


6 posted on 07/24/2012 9:32:59 PM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: Jack Hydrazine

Not sure what all those numbers mean? Can it be given line-by-line explanation?


7 posted on 07/24/2012 10:05:23 PM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: Kartographer

>>>The U.S. economy is teetering on the brink of another recession.

We didn’t do that... Obama did.


8 posted on 07/24/2012 10:12:07 PM PDT by Hop A Long Cassidy
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To: LouAvul

I agree.


9 posted on 07/24/2012 11:04:54 PM PDT by arrogantsob (Obama must Go. Sarah herself supports Romney.)
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The “Bush Recession” will transform in the news media to the “Romney Recession” on 1/21/2013. And for at least the next 4 years after good economic news will be referred to as “unexpected”.


10 posted on 07/24/2012 11:17:57 PM PDT by dsrtsage (One half of all people have below average IQ. In the US the number is 54%)
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To: GR_Jr.

I’d like to believe that American resiliency will win the day.
unfortunately history is littered with societies that rose and fell for various reasons.

I will change my mind if Obama is defeated, the economy starts growing and the debt disappears in a cloud of smoke.


11 posted on 07/25/2012 2:17:01 AM PDT by vanilla swirl (searching for something meaningfull to say)
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To: dsrtsage
And for at least the next 4 years after good economic news will be referred to as “unexpected”.

I predict they will credit Obama's policies instead.

12 posted on 07/25/2012 3:09:13 AM PDT by raybbr (People who still support Obama are either a Marxist or a moron.)
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To: GR_Jr.

I believe in American resiliency as well. But a question needs to be asked.

How many of us are Americans and how many of us are merely citizens?

All the resiliency in the world won’t help if we continue on this demographic path.


13 posted on 07/25/2012 3:10:45 AM PDT by Anvilhead (In my lifetime we've gone from citizens to subjects.)
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To: vanilla swirl

Even if Obama is defeated, I fear that our changing demographics make unlikely that we will completely regain the resiliency of earlier generations.


14 posted on 07/25/2012 3:56:47 AM PDT by monocle
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To: monocle
I fear that our changing demographics make unlikely that we will completely regain the resiliency of earlier generations.

Indeed. One only need look at CA to see our future.

15 posted on 07/25/2012 4:13:04 AM PDT by Altura Ct.
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To: Anvilhead

What happens to the 50 million “Americans” whose only means of survival is a subsistence check from the government?

Things have the potential to get really ugly before they get better.


16 posted on 07/25/2012 4:14:55 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: Kartographer

“Consumer spending and existing home sales are flagging, because policymakers failed to aid underwater homeowners as generously as the banks.”

Seriously....what editor could even allow such nonsense printed....and what so-called “mind” come up with this nonsense!? The fact a statement such as this makes into the national discourse is a sign of how unsolvable the nations problems are with the current media-political elite. They are too stupid to figure out the basis of the problem


17 posted on 07/25/2012 4:21:47 AM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: Kartographer
The bad news is that if it goes down again, there won’t be much we can do to save ourselves. Like a weary heavyweight, if the economy hits the mat again, it’s down for good.

I don't believe that for a minute. It may take a few months, but get someone who's not an insane commie clown into the occupied office and grind out some sound policy including taking a flamethrower to obamacare, and this nation's transformation will be astounding.

That being said, we're going to have to route out the commies at every level.

18 posted on 07/25/2012 5:29:52 AM PDT by Caipirabob (I say we take off and Newt the site from orbit. It's the only way to be sure...)
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To: F15Eagle

I don’t know.


19 posted on 07/25/2012 6:49:45 AM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: F15Eagle

Peter Schiff agrees with him.
http://www.youtube.com/watch?v=z_wBGlR1tVU


20 posted on 07/25/2012 6:51:46 AM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: Caipirabob
Yeah a Great Depression couldn't possible happen.



21 posted on 07/25/2012 8:02:56 AM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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