New recession begins next year, Shilling says

MarketWatch ^ | June 24, 2011 | Howard Gold

[Oatka]

German soldiers described this sh!t in the last year of WWII; as they were being pushed back to Berlin itself

The bit I cracked up over was when one vet reported that as Germans prisoners headed for the rear in 1945 while hundreds of planes flew overhead, one German soldier pointed to them and sneered "Propaganda!".

[TwelveOfTwenty]

Most would say we're already in a recession.

If a recession ends when the GDP turns positive for two quarters, then strictly speaking we are out of the last recession.

But the GDP didn't grow because of an economic recovery. We paid for the growth by borrowing foreign $$$ to pay for what little we got. IMHO, we're not out of the recession until the GDP grows without borrowed foreign dollars.

[MikeSteelBe]

It’s really Smoke and Chains.

[the invisib1e hand]

German soldiers described this sh!t in the last year of WWII; as they were being pushed back to Berlin itself, they were fed a diet of nonsense about victories elsewhere that weren’t real (but couldn’t be verified at the time), and had to listen to their “Obama” babble about superweapons that would turn the tide. By the end of the war he was giving orders to armies that didn’t even exist anymore; the army was smart enough to know that he was an incompetent nut, and they tried to stop him with the bomb plot.

Spin-doctoring is the world's oldest profession, and as I undertstand it, propaganda is well-known tool of war. Napolean said, "A dozen newspapers are more to be feared than all the bayonets in France" or something like that. I found reference to this in McLuhan's "Understanding Media" but lo, not a trace of it on Google.

Who you gonna believe....?

[Freedom_Is_Not_Free]

I found several references on Google right off searching on “Napeleon quote newspapers”.

What came up was: “Four hostile newspapers are more to be feared than a thousand bayonets.”

[Orange1998]

Think of all the people who know more about Reality shows than who is President of the Federal Reserve. You are right in saying people are feeling the pains of economics than ever before. When the Houston oil bust came about neighborhoods became vacant. People moved up north where the economy was thriving. It was easily notice since the Houston Freeways were wide open for the drive to and from work.

Today Houston is thriving, freeways are congested (notice many out of state license plates). Restaurants have wait times and jobs are plentiful. If you can relocate consider San Antonio or Houston. Come visit sometime you will see Houston and San Antonio is very open to newcomers.

[EVO X]

People who still have their jobs are watching their buying power shrink as well; the “non-existent” inflation gets them, too

That sums it up for me. I haven't had to change my lifestyle drastically, but have tweaked it downward. Hopefully, I won't need any more downward tweaks..

[Riodacat]

As concerned as I was for the value of my son's home, the prices in his area have held up better than most places in the U.S.
That could all go south if the next recession hits the hi-tech industry more than it did in the last/current one.
After putting in approx $150K (plus a lot of sweat equity)for renovations and updates, it's probably worth approx the $850 he originally paid (according to zillow.com). He was lucky insofar as his fiance had a Condo which she sold at market high for $450K, so they had over $300K between them as a down payment.

[kearnyirish2]

I thought most of them knew they were being lied to; they were short on supplies and food, and word had gotten out about the bombing of Germany.

[kearnyirish2]

That’s good that they’ve turned it around; my former boss retired and moved to the outskirts of Houston, and he likes it there.

[FreedomPoster]

Yeah, Bay Area real estate is just crazy. Combine difficult to overcome geographic limits with government-induced land shortages, and you’ve got quite the double whammy.

[nascarnation]

phrases not seen in the MSM since 2008:

homeless problem
recovery for Wall $treet but not Main Street
McJobs

[kearnyirish2]

Same here, but even so it’s just treading water while slowly paying down debt. The problem is that things need maintenance (cars, home), and that’s being deferred.

[EVO X]

The problem is that things need maintenance (cars, home), and that’s being deferred

I know of someone that owns an auto repair shop that is having a tough go of it. You would think with people holding onto older cars longer, business would be better.

[Oatka]

[Propaganda!] I thought most of them knew they were being lied to; they were short on supplies and food, and word had gotten out about the bombing of Germany.

I believe most of them realized that by 1945, but you always had the die-hards. I have seen videos of German officers giving the Nazi salute to truckloads of prisoners AFTER the war ended.

A guy I worked with back in the 50s was stationed in Germany in '46 and was dating a local girl. While waiting for her and talking with her old man, the son comes down the stairs, and not seeing the soldier there, gave the old man the Nazi salute and said "Good evening, father." The old man nearly had a stroke and the kid almost wet his pants. Stupidity takes a long time to die out.

[GlockThe Vote]

More like depression.

[kearnyirish2]

I think mechanics are being asked just to keep cars running; anything not necessary isn’t getting done.

[Fresh Wind]

We’re just getting into Summer Of Recovery II, nothing to worry about. The Sepia Savior will fix everything between golf outings.

[kearnyirish2]

I think each branch saw the writing on the wall in their own way; for the army it was Stalingrad, for the air force it was seeing fighters escort bombers all the way to the target, and for the navy it was when the U-boats attacked convoys which in turn launched their own planes.

These developments probably convinced the generals to kill Hitler.