Skip to comments.HUSSMAN: THE RECESSION IS HERE “NOW”
Posted on 06/11/2012 6:11:21 AM PDT by blam
HUSSMAN: THE RECESSION IS HERE NOW
11 June 2012
John Hussman of Hussman Funds hasnt backed away from his recession call (see here for more). In fact, he says its here right here and right now. Mostly because the problems from the previous recession were never properly dealt with. I agree with him on the fact that were still deeply troubled because the problems of the last recession were never dealt with, but I still dont see real-time signs of recession in the USA. Heres more from Hussman:
By our analysis, the U.S. economy is presently entering a recession. Not next year; not later this year; but now. We expect this to become increasingly evident in the coming months, but through a constant process of denial in which every deterioration is dismissed as transitory, and every positive outlier is celebrated as a resumption of growth. To a large extent, this downturn is a boomerang from the credit crisis we experienced several years ago. The chain of events is as follows:
Financial deregulation and monetary negligence -> Housing bubble -> Credit crisis marked by failure to restructure bad debt -> Global recession -> Government deficits in U.S. and globally -> Conflict between single currency and disparate fiscal policies in Europe -> Austerity -> European recession and credit strains -> Global recession.
In effect, were going into another recession because we never effectively addressed the problems that produced the first one, leaving us unusually vulnerable to aftershocks. Our economic malaise is the result of a whole chain of bad decisions that have distorted the financial markets in ways that make recurring crisis inevitable.
AND DON'T DRINK THE GOP'S KOOLAIDE EITHER. romney may be the lesser of 2 evils, but he is still an evil socialist.
this guy is just figuring this out?????
The last several years have reminded me of that old joke about a guy that jumps off a ten story building. As he approaches the third floor level, a guy yells out, “how’s it going?” The guy yells back, “So far, so good.”
In the mall, the kitchen shop, Merle Norman cosmetics, the two gift shops, eight more stores.....all gone. JCPenney devoid of customers and clerks, too. The clerks are complaining they're down to mandatory 4 hours a day work. No floor clerks at Kohl's to help you out, either. Try to find a floor clerk at KMart.
No service, no customers....or is it no customers, no service?
Almost all the private, family-owned-type restaurants are shuttered, only the impersonal chains remain. The small jewelry shops, the fruit shippers facility, our Outback closed, our Target closed.....need I go on?
Yes, we are in a Recession out here across the fruited plain.....but those governing from booming, government-sponsored DC evidently don't know it....or don't care to know it....or won't admit it.
It has been in force since 2008.
The Mineral Family Investment Portfolio is doing well, but the Mineral Family Employment Situation has become spotty.
Yes, Romney is a member of the ruling elite, but he has demonstrated that he will respond to outside pressure and change his positions. 0bama will not. So if you want to have any chance at all to do this peacefully, you have to vote for Romney.
——Yes, Romney is a member of the ruling elite, but he has demonstrated that he will respond to outside pressure and change his positions.——
Demonstrated here in MA.
Romney can be useful, unlike Odumbo, who only responds to the voices in his head.
Main street is adjusting to the lower income or multi part time job life style. They are still spending but at a reduced level. The only people with raises are Wash DC suburbs of MD and northern VA. Stores, shops, restuarants are bustling in those areas and housing is booming. The other group making money is hi tech industries and Wall Street. Wall Street is the most perverted. They took bailout money to retire their bad financial bets in the derivative market. Instead of loaning money to Main Street to restart the economy per TARP and stimulus, they used it to buy US T Bills and make more derivative plays. If they profit they keep the money, if they lose money they will approach the US gov for a bailout because they are too big to fail. Obama was suppose to be the most anti Wall Street POTUS and under him per exec order he placed the US taxpayers on the hook for future derivative losses.
I still dont see real-time signs of recession in the USA.
Shut the computer off, walk up the cellar stairs, stick your head out the window and look around.
If only it were just a recession.
And educators nationwide. The local college (USA) just raised tuition 8.4%.