Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

A Quick Primer On Why Everyone Thinks The Economy Is Headed Into The Toilet Again
BusinessInside/YahooFinance ^ | 7/12/10 | Henry Blodget

Posted on 07/12/2010 6:53:16 AM PDT by Kartographer

Three months ago, everyone was jubilant: The economy was headed for a v-shaped recovery, job growth was kicking in, and consumers were about to start spending, spending, spending again.

But now, suddenly, everyone thinks the economy is headed back into the tank.

Aside from noting the obvious--when it comes to economics, the consensus is usually wrong--it's worth reviewing why everyone has suddenly become so pessimistic again.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Culture/Society
KEYWORDS: bhoeconomy; democrats; economy; obama

Another huge problem is the number of folks who have been unemployed for more than half a year--it just keeps going up

Read more: http://www.businessinsider.com/a-quick-primer-on-why-everyone-thinks-the-economy-is-headed-into-the-toilet-again-2010-7#another-huge-problem-is-the-number-of-folks-who-have-been-unemployed-for-more-than-half-a-year-it-just-keeps-going-up-2#ixzz0tTYqUg4V

1 posted on 07/12/2010 6:53:18 AM PDT by Kartographer
[ Post Reply | Private Reply | View Replies]

To: Kartographer

I never thought the economy was headed in the right direction, ever so often you have what is it called demand for durable goods, sometimes you just have to buy a refrigerator, like now, i am going to buy a freezer next week other one broke down
melissa


2 posted on 07/12/2010 6:57:41 AM PDT by mel
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

I don’t recall everyone being jubilant about the economy 3 months ago.

I must have missed a memo.


3 posted on 07/12/2010 7:00:06 AM PDT by ltc8k6
[ Post Reply | Private Reply | To 1 | View Replies]

To: ltc8k6

yes, who is this economically bipolar “everyone”?


4 posted on 07/12/2010 7:01:53 AM PDT by silverleaf (Those who can make you believe absurdities can make you commit atrocities.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Kartographer

The “recovery” was all artificial. Big dollars in stimulus projects that are no longer being given out. The cash for clunkers program ending. The tax rebate for home buyers ending (talk to anyone in real estate-the market has completely died as anyone who was going to buy already did so)...AND NOW HOLD ONTO YOUR HATS-750,000 temp workers for the census begin to get let go in 3 weeks.


5 posted on 07/12/2010 7:01:57 AM PDT by icwhatudo ("laws requiring compulsory abortion could be sustained under the existing Constitution"Obama Adviser)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

ping


6 posted on 07/12/2010 7:03:49 AM PDT by unkus
[ Post Reply | Private Reply | To 1 | View Replies]

To: ltc8k6
I don’t recall everyone being jubilant about the economy 3 months ago.

It was 0bamao's regime. They were jubilant about their progress in destroying this Country. If you're like me, you probably turned it off to save your blood pressure.

7 posted on 07/12/2010 7:04:05 AM PDT by The Sons of Liberty (The usurper 0bama regime is a "Clear and Present Danger" to AMERICA! - Mene, Mene, Tekel, Upharsin)
[ Post Reply | Private Reply | To 3 | View Replies]

To: ltc8k6
I don’t recall everyone being jubilant about the economy 3 months ago. I must have missed a memo.

Gosh, you don't remember the 'recovery'? Where have you been?

8 posted on 07/12/2010 7:04:42 AM PDT by Right Brother
[ Post Reply | Private Reply | To 3 | View Replies]

To: mel

Check craigslist first.


9 posted on 07/12/2010 7:05:36 AM PDT by B4Ranch (Remember, guys, the enemy is to the left and the middle.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Kartographer

Busnisses can’t borrow because lenders are too busy loaning to the government.Every Republican running in November should feature this graph in their ads. Make this election about Pelosi/Reid the way they made the last one about Bush.:
http://www.americanthinker.com/blog/Dow%20roller%20coaster.jpg


10 posted on 07/12/2010 7:05:40 AM PDT by csmusaret (A government that can dictate how much water flows into a toilet is a powerful government indeed.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: silverleaf
yes, who is this economically bipolar “everyone”?

The 0bama media.

11 posted on 07/12/2010 7:07:20 AM PDT by Colonel_Flagg (No apologies.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: ltc8k6
The economy was headed for a v-shaped recovery, job growth was kicking in, and consumers were about to start spending, spending, spending again.

Uh no. None of this is true. All that was happening is that liberals were lying again by talking about "America's Back" (see Newsweak cover) and "Recovery Summer" - None of which are happening because democraps are incompetent and ruining the economy.

12 posted on 07/12/2010 7:07:21 AM PDT by KC_Conspirator
[ Post Reply | Private Reply | To 3 | View Replies]

To: mel
What the professional economists forget is the bulk of consumer buying is a social activity.

Once you get beyond buying the basics (food, clothing, gasoline, etc) what is the reason to buy?

Replacement activity is a once in a decade activity. That isn't going to move the market. See Circuit City's collapse when Wal-Mart stays open.

Once “the consensus” decides something, true or false, things aren't going to change until the consensus changes.

The economic pace driven by “Keeping up with the Jones'"; has been replaced with fear of government activity and no amount of happy noise is going to change that in the near term and mid term future.

13 posted on 07/12/2010 7:09:05 AM PDT by Nip (Islam - a religion of piece (your head and life). Truth depends on the spelling)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Kartographer
>> A Quick Primer On Why Everyone Thinks The Economy Is Headed Into The Toilet Again << Into the toilet again? Since when did it come out?
14 posted on 07/12/2010 7:10:33 AM PDT by DeoVindiceSicSemperTyrannis
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

The agenda of the obastard people is that they know their days are numbered, they aren’t going to have another chance like this for ages to come and they are wrecking as much as they can while they can to make the mess impossible to clean-up.

I looked at the 9/12 rally pictures last night...what a crowd! Didn’t have a shred of impact on the agenda. It may have shown some that they are not alone but that is about all.


15 posted on 07/12/2010 7:12:32 AM PDT by Sequoyah101 (Half of the population is below average)
[ Post Reply | Private Reply | To 1 | View Replies]

To: silverleaf; Colonel_Flagg

Yeah, who is this economically bipolar “everyone”?


16 posted on 07/12/2010 7:14:15 AM PDT by BipolarBob (Even the earth is bipolar.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Kartographer

Employment has been heading for the tank since Clinton made trade deals with China and Bush made them a permanent trading partner. Clinton boosted the economy with the dotcom era and Bush goosed it up with a war economy.

Perot heard the trade job sucking sound in 1992 and both parties are still deaf.

The answer is obvious. PRODUCE MORE - IMPORT LESS


17 posted on 07/12/2010 7:24:54 AM PDT by ex-snook ("Above all things, truth beareth away the victory")
[ Post Reply | Private Reply | To 1 | View Replies]

To: mel

The “economy” is straining at the bit to grow like gangbusters , but it’ll continue to be held back by businesspeople terrified of this administration and it’s “make the rules and punishment up as you go along” approach to private sector.


18 posted on 07/12/2010 7:25:30 AM PDT by gura (If Allah is so great, why does he need fat sexually confused fanboys to do his dirty work? -iowahawk)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Kartographer
Keynesian economics fails every time it is tried.

19 posted on 07/12/2010 7:27:59 AM PDT by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your law is my delight.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ltc8k6

Who were all these jubilant people???????? I never met any.


20 posted on 07/12/2010 7:29:47 AM PDT by Mtn Pass (Buy beans and bullets!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: KC_Conspirator

No one that I know thought any of that was true...


21 posted on 07/12/2010 7:31:39 AM PDT by ltc8k6
[ Post Reply | Private Reply | To 12 | View Replies]

To: Kartographer

Cue the demand side economist like Krugman who will say: “I toild you we should have kept spending.”


22 posted on 07/12/2010 7:33:58 AM PDT by IamConservative (I don't tweet, I toot...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mel

I feel like we have a 7-year-old driving a bus that we are all forced to ride in. It’s absolutely maddening.


23 posted on 07/12/2010 7:37:43 AM PDT by fwdude
[ Post Reply | Private Reply | To 2 | View Replies]

To: Sequoyah101

>I looked at the 9/12 rally pictures last night...what a crowd! Didn’t have a shred of impact on the agenda. It may have shown some that they are not alone but that is about all.

The message is clear:
Until that crowd is both armed and angry Washington DC doesn’t give a shit.


24 posted on 07/12/2010 7:38:18 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: ex-snook

economic isolationism is an utter sham....


25 posted on 07/12/2010 7:40:45 AM PDT by misterrob (Thug Life....now showing at a White House near you....)
[ Post Reply | Private Reply | To 17 | View Replies]

To: UriĀ’el-2012
Keynesian economics fails every time it is tried.

And Kenyan economics fails every time it is tried.

26 posted on 07/12/2010 7:44:13 AM PDT by Mojave (Ignorant and stoned - Obama's natural constituency.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: misterrob

Employment has been heading for the tank since Clinton made trade deals with China and Bush made them a permanent trading partner. Clinton boosted the economy with the dotcom era and Bush goosed it up with a war economy.

Perot heard the trade job sucking sound in 1992 and both parties are still deaf.

The answer is obvious. PRODUCE MORE - IMPORT LESS


27 posted on 07/12/2010 7:56:48 AM PDT by ex-snook ("Above all things, truth beareth away the victory")
[ Post Reply | Private Reply | To 25 | View Replies]

To: gura
The “economy” is straining at the bit to grow like gangbusters , but it’ll continue to be held back by businesspeople terrified of this administration and it’s “make the rules and punishment up as you go along” approach to private sector.

Precisely! They're not in business to LOSE money!

28 posted on 07/12/2010 8:06:12 AM PDT by SuziQ
[ Post Reply | Private Reply | To 18 | View Replies]

To: Kartographer

Darned good little “summary” primer. Well done.


29 posted on 07/12/2010 8:10:10 AM PDT by ThePatriotsFlag (http://www.thepatriotsflag.com - The Patriot's Flag)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer
Mark to Market accounting rules are going to wreak their usual havoc as well. In a move that nobody seems to notice nor care about, this simple switch will do extensive damage to any budding recovery.

Regime Change.

30 posted on 07/12/2010 8:28:22 AM PDT by Bon mots
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer
A$$Paper not a viable means of creating a sustainable economy... and now its all locked up? Tsk tsk.



What ~will the suuuuper genius Geckonomists pull out of the South end of their digestive tracts next?

Maybe it's time to look North of the WH, find that moral compass again - and reform Accountability into the Republic...


Oh say can you see
with your own eyes and free mind
2 miles North?

31 posted on 07/12/2010 8:30:35 AM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ltc8k6

“I don’t recall everyone being jubilant about the economy 3 months ago.

I must have missed a memo.”

MSM was but then I think they were all ‘wee weeded up’ at the time.


32 posted on 07/12/2010 8:31:48 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
[ Post Reply | Private Reply | To 3 | View Replies]

To: OneWingedShark
[Until that crowd is both armed and angry Washington DC doesn’t give a shit.]
 
Fire in the Minds of Men?
 
The Marxist "revolutionaries" in control of that city would applaud if an angry mob burned it down.
 
If you want to hit them where it hurts - empty their Golden Sachs.
 
Adolph Hitler would have been powerless except for the pink NyLon clerks who Empower(tm)ed him.
 
Thus:
It is incumbent upon the honorable craftsman to be aware
of whether or not his services are being used
as a means to accomplish evil ends -
and to ACT accordingly.
 
 
Sadly, this is not a task for a population of obese, corn-fed American Idol sheeple, who've been made slaves via the tyranny of their own appetites; who will obediently bleat their way up the ramps of the waiting box cars...  as long as the Bread and Rainbow Circuses hold out.

33 posted on 07/12/2010 8:53:53 AM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Kartographer

The reason everyone is so pessimistic again..?

Look at Obama on the oil spill cleanup.

Look at Obama on Arizona.

Look at Obama’s Donald ‘Death Panel’ Berwick recess appointment.

Look at Obama.


34 posted on 07/12/2010 9:04:49 AM PDT by Freddd (CNN is down to Three Hundred Thousand viewers. But they worked for it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: LomanBill

>The Marxist “revolutionaries” in control of that city would applaud if an angry mob burned it down.

Maybe in principle, but I doubt they’d be applauding if they found themselves hanging from a light-post.

>If you want to hit them where it hurts - empty their Golden Sachs.

This is almost unfeasible, and certainly unreasonable (to those with families), while the government can a) take taxes out of your pay BEFORE you are ever paid, & b) reach into your savings to get monies for failure to pay income taxes. {I foresee ‘b’ being extended to any material good before they REALLY feel the squeeze.}

>It is incumbent upon the honorable craftsman to be aware
>of whether or not his services are being used
>as a means to accomplish evil ends -
>and to ACT accordingly.

Interesting you should mention that. In California the Governor has decreed that, because of the legislature’s failure to pass a budget, all state employees are to be paid the Federal Minimum Wage. Now, the State Controller is refusing to do so because the “antiquated” payroll computers cannot be easily reset to their current wage-values... therefore, being a programmer, I offered my services to the Governor/State.

{IMO, nothing will motivate government reform like lowering everyone’s salaries to the minimum wage. It will “make real” the dire financial straits that California is in — It will make it real on a PERSONAL level.}


35 posted on 07/12/2010 9:31:53 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
[ Post Reply | Private Reply | To 33 | View Replies]

To: OneWingedShark

[IMO, nothing will motivate government reform like lowering everyone’s salaries to the minimum wage]

;-}

Lower the salaries of the Golden Sachs piggys in the Federal Reserve farmhouse to minimum wage....

See how they like ~them Milk and Apples.


36 posted on 07/12/2010 9:42:25 AM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
[ Post Reply | Private Reply | To 35 | View Replies]

To: OneWingedShark
[I foresee ‘b’ being extended to any material good before they REALLY feel the squeeze.}]

Too big to fail? Before Citigroup got a$$paper indigestion it was trading at over 50...

So we shall see who has the motivation to endure.

"...WE PLEDGE OUR LIVES, OUR FORTUNES, AND OUR SACRED HONOR..."


37 posted on 07/12/2010 10:01:27 AM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
[ Post Reply | Private Reply | To 35 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson