Economy Caught in Depression, Not Recession: Rosenberg

cnbc.com ^ | Tuesday, 24 Aug 2010 | 11:23 AM ET | Jeff Cox CNBC.com Staff Writer

[Dubya-M-DeesWent2SyriaStupid!]

Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.

[MNJohnnie]

So now, after fraudulently claiming to have “saved” the Economy with their “stimulus” the Obambot media is going to go full court press to sell the notion, “we never recovered in the 1st place.

Sorry DNC Political/Media machine, you own this economy now. No amount of spin is going to convince the American people that this is all so how “Bush's Fault”.

[Dubya-M-DeesWent2SyriaStupid!]

http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html

[Lucky9teen]

We need another Coolidge right about now!!

[Dubya-M-DeesWent2SyriaStupid!]

There was WH spin last week about how the economy is doomed.
THEY ADMIYYED IT OUTRIGHT GO FIGURE!

I believe they blamed Bush I am not sure.

[unkus]

2011 will not be pretty.

[ex-snook]

To paraphrase ‘It’s the exported jobs, stupid’. [Hey not you, Washington]

[Dubya-M-DeesWent2SyriaStupid!]

This reminder goes with the link in post 3

We started suffering in the economy when this happened.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/07/AR2006110700473.html

I am sick of them blaming Bush. They spend trillions like it is nothing and had the audacity to bash Bush for overseas war spending. THEY ARE DOING THE SAME THING AND THEN SOME!

[Soul Seeker]

Call it whatever they want. I am not spending my money.

[Dubya-M-DeesWent2SyriaStupid!]

I think the job percentages are worse than reported.

[Mad_Tom_Rackham]

Yep. The REALLY bad news is that it will take YEARS for any sensible approach (i.e., drastically lower marginal tax rates) to bear fruit, assuming the lunatics currently in charge finally acquiesce or are thrown out.

[Freedom_Is_Not_Free]

Duh.

[Darth Reardon]

That would only really be a problem if the average American voter either had a really short attention span, or just didn’t pay any attention at all.

We’re screwed.

[Dubya-M-DeesWent2SyriaStupid!]

There are several things to do to promote immediate relief.

I USED TO think dippy doo wad traitor in chief would have done some of these things by now to gain back popularity but he won’t he hates this country-—obviously.

[Chode]

[RKBA Democrat]

Be sure to call it by it’s proper name: the Obama Depression.

[Chode]

the Opression???

[RKBA Democrat]

I like it. The O-pression

[reader25]

I believe it is time to bring back the “MISERY INDEX” for the election. Obama and his Administration should have to look at what they are doing to the country and its citizens each day. If I could figure out how to accurately generate this index I would add it to the National Debt web page and plaster it on each web page I could. Does anyone know how to generate this index based on today’s economic conditions?