Skip to comments.The US could be facing more of a downturn than a recovery
Posted on 04/25/2010 5:13:18 PM PDT by luv2ndamend
All is well. Reuters declared that the US is experiencing a "sturdy recovery". This is the same phony news agency that used to choke on the word recovery when used by the Bush administration. Now some American conservatives are warning that Republicans are being dangerously bearish on the economy, that there are signs, weak as they are, that a recovery is underway. Matthew Continetti of the conservative Weekly Standard states that the "natural tendency of economies is to grow". Nevertheless, he seriously questions whether Obama would now benefit from a recovery.
Unfortunately most conservatives remain as uninformed about economic history and economic theory as the vast majority of Democrats. If Mr Continetti were to enlighten himself even casually on these subjects he would quickly learn that there is nothing natural about economic growth. If such a tendency existed then mans history would not largely consist of abject poverty and one where it was only possible for only a handful to enjoy a very high standard of living.
(Excerpt) Read more at brookesnews.com ...
When the first nuclear weapons go off on US soil. Probably not long now.
Hopefully before the GOP regains control. If goes after, then of course, they will get the blame.
We are in a recovery. Under the current set of rules put in place by the administration, we are recovering to a much lower level of production than we realize. Then we head back to a recession once it becomes apparent we really do have to repay all this debt.
I am Just a Regular guy,I know nothing about Econmics other than a 40 hr. week.
What I see is that ‘No jobs’ means No Money to spend.
With the inFlux of No Talent workers and the Out Source of Good Jobs, the Middle Class is Kaput.
We Are Over as a Free Market .
Then what are we experiencing presently, a bang zoom recovery financially?...
You may be a "regular" guy, but you know more about economics than the average idiot in congress. Further, these knuckleheads think that propsperity can be had by borrowing enough money.
When the dems claimed under GW Bush that it was the worst economy since the depression, it stuck and the GOP paid the price in 2006 and 2008. It was clearly NOT true but it sold and it had serious consequences.
The GOP should be eligibl;e to say the dems incorrect response to a recession has turned it into a depression. This is true, yet I expect most GOPers will be reluctant to get this aggressive.
Surely the dems will be claiming a recovery is well underway.
This issue will determine 2010 midterm results; notwithstanding all the premature seat counting, etc.
Another unexpected downturn. DOPES!
Pelosi: Where Are the Jobs, Mr. President?
August 1, 2003
Washington, D.C. — House Democratic Leader Nancy Pelosi released the following statement today on the Bureau of Labor Statistics’ announcement that 470,000 people abandoned their job searches in July and that 3.2 million private sector jobs have been lost since President Bush took office:
The fact is that President Bushs misguided economic policies have failed to create jobs. Since President Bush took office, the country has lost 3.2 million jobs, the worst record since President Hoover. And today we learned that in July nearly half a million people gave up looking for a job.
Job losses are taking a real toll on the financial security of American families. While Democrats are fighting for opportunity, jobs, and economic security for working families, Republicans continue to focus on helping those who need help the least.
According to todays survey, while the national unemployment rate dropped slightly, it still stands at a near record high. In addition, the unemployment rate for African Americans was still over 11 percent in July, and the unemployment rate for Hispanics was 8.2 percent in July.
It is time for President Bush and the Republicans to get to work for all Americans, not just the elite few.
I can remember in MARCH of 2001 Democrats blaming Bush for the economic downturn and continued to say it was bad during the entire decade.
Sure 2008 was bad; and it’s been bad since, but I was very satisfied during 2001-2007.
It’s hilarious watching these same people tell you the economy is coming back. I want to slap them in the face!! I guess a good economy to them is 10% UE and or 20% reduction in pay for those still working.
135 people were laid off from State Street Bank in Boston on Wed. They had a fantastic year in profits and boners, I mean bonuses.
We’re in the 11th hour. Beware.
The shell game will be over when the government declares that economic information is a state secret.
Kinda like the Federal reserve?
There is no recovery that can be seen by the people yet. When it no longer takes longer than a year to find a job then people will think it is over,until then good luck in November!
The unemployment rate on Aug 1 2003 was 6.2%. I’m sure we can now talk about Obama’s “record high unemployment rate” since it is 10%?
I take the full article to heart. It sounds dead on to me.
I don’t buy this “recovery”, but the media will be shouting “recovery” right through the 2010 elections. We will see how many people fall for it vs who “believes their lying eyes.”
Any upward movement rides on a rising tide of optimism that Obambi will be neutered in November and will not run again in 2012. This truth needs to become widespread to offset any Dim spin that credits the regime.
We are experiencing economic manipulation on massive debt. I have no clue how long the government can prop up the economy on this debt. I am always early in thinking the ponzi schemes will collapse. Maybe they can prop up the economy right through the 2012 elections. I doubt it, but honestly, I just have no clue.
All I know is, the economy will collapse again when all of the new debt is called in or stops moving. The debt will push up the economy, but when the debt adding momentum and the economy stops growing, the economy will collapse again, only worse than the last time.
We can fix that by legalizing more border jumpers. The future for young black men is getting dimmer and dimmer what with Black leaders like Sharpton flaking for the border jumpers.
You’re forgetting all the TARP money being shoveled into the economy to prop up the RATs this November. When that runs out, it’s game over, but not until then.
Well, you and I can talk about it; the media will pay 10% unemployment no mind. Grrrrrrr!