The Never Ending Recession (We could see a negative GDP print this quarter.)

Business Insider ^ | 08/21/2010 | Business Insider

[The Magical Mischief Tour]

I have long believed that the rally in stocks was largely based on a mean reverting move that was based almost entirely on government intervention and stimulus (see here & here). But few people have remained more steadfast in their bearishness than David Rosenberg. And unfortunately for the market David Rosenberg has been redeemed. His macro outlook is becoming confirmed with every day – deflation, stimulus based recovery, continuing recession. If his outlook continues to be right then Mr. Rosenberg believes we could see a negative GDP print THIS quarter. And if he’s right that means analysts are far too optimistic about the upcoming quarter:

[central_va]

[Parley Baer]

Thank you Obama and the dimoKKKRATS. I hope you clowns get creamed this November.

[CommieCutter]

..and just think. There will be plenty of stupid yellow dog Democrats standing in line just waiting to vote for these idiots again.

Makes me sick. The only enjoyment I’m getting out of these times is knowing that a lot of the idiots that voted for this are suffering too. Serves them right.

[Josa]

Today outside a local Wal-Mart an African American family was standing with a sign asking for help because they were being evicted from their house.

Of course making an assumption here, but statistically speaking they probably voted for obama. If so, I was wondering what they thought about “hope and change” now.

[RayChuang88]

Despite what the Democratic National Committee and their lackeys in the MSM say, everyone knows that the Democrats ARE going to get clobbered this November. And for one reason: they have done NOTHING really effective for economic recovery, and in fact may have made it potentially worse with the ending of the 2003 tax cuts starting in 2011.

[Captain Peter Blood]

The GDP for all intents and purposes has been negative for awhile. The massive government manipulation made it look like there was economic activity.

[PugetSoundSoldier]

This is GREAT news. Since the “Bush Recession” ended - per the Government stats - last year, and we’ve had positive GDP growth, then any negative GDP from here on out means it’s OFFICIALLY the Obama Recession. No more dodging it!

[CommieCutter]

Still yet, hearing something like that, makes me feel guilty to gloat.

[Munz]

Atleast it is not Bush's fault anymore ....

Obama now blames poor job numbers on congressional inaction. Wait! His party runs Congress