A coming recession?

[Ian]

Uh-huh.

[Coito ergo sum]

Uh-huh.

What's he been held responsible, accountable or even answerable for? Seriously dude, I'd like to know what you think.

[Jason]

Need another stimulus! Let's borrow.

No!

Declare war on Madagascar!

Are the lemurs sheltering Al Qaida?

Yes! Bomb them!!!

Clearly that guy on the right is a terrorist. Look at his beard! We should probably form a coalition to avoid international backlash and say we're 'liberating' them though.

[Gerald McGrew]

We are in the midst of a disaster.

Oh right...Obama was reelected.

Who cares what some conservatives think?

Whaddya know? We agree!

It probably create a single job, yes. It was a giant boondoggle, that much is certain, and an incredible waste of money.

Except that part where I showed you 6 different independent studies that used different methods and all concluded that it created or saved millions of jobs. But I understand...it's just like showing transitional fossils to a creationist. Ignore it, leave the thread, and return to your previous position.

Plenty of evidence for that. The European countries that made the hard decisions early are doing the best.

Right, right...that must be why the IMF recently backed off calls for austerity...

http://www.theglobeandmail.com/globe-in ... le4604370/

...and why the EU is doing so damned well (the powerhouse of Estonia aside )

http://www.theglobeandmail.com/report-o ... le4607683/

"The Greek economy has shrivelled to three quarters of what it was three years ago, before embarking on its successive turnaround-cum-bailout plans. Euro zone governments keep contributing religiously to their own recession by forcing ever higher degrees of pain on their sick economies. Spain is slashing public spending and wonders why its gross domestic product is shrinking as well. Britain is slowly sinking under the mindless policies of austerity without perspective. "

Let's follow the Democrats' path -- more excessive spending -- unrestrained quantitative easing -- artificially low interest rates -- stifling regulation -- and if they get the chance, increased burdensome taxation...

Ah, I see. In a recession (which is a retraction in the flow of money through an economy) the best thing a gov't can do is pull additional money out of the economy. And those poor Wall St. firms...so over-regulated!! And thanks for repeating the conservative nonsense about "taxes are too high", even as you try and distance yourself from it above.

[Kristie]

Need another stimulus! Let's borrow.

No!

Declare war on Madagascar!

Are the lemurs sheltering Al Qaida?

Yes! Bomb them!!!

Clearly that guy on the right is a terrorist. Look at his beard! We should probably form a coalition to avoid international backlash and say we're 'liberating' them though.

Highly suspicious.

[Jason]

Extra! Extra! Read all about it: Angry, butthurt, Republicans threaten to run economy into a Wall st. recession!

[JimC]

Coito - That was a good post... except for the whine about how the media is in the tank for Obama and nothing seems to stick to him. Besides it being a really tired line, let's wait until no deal happens on the fiscal cliff and a major recession starts up, and then we'll see if the "mainstream" media lets Obama off blameless.

It would be the first time anything was deemed his responsibility yet. Nobody even asks him why he and his Party can't pass a budget, and there is almost no noise whatsoever about the fact that he's about to have his first full press conference in going on 9 months. All the green energy debacles? Solyndra? Where are the investigations by journalists as to this nonsense and cronyism? I mean -- dude -- journalists seem to just give him a pass.

Our Labour Government has produced many debacles in the area of energy policy, by incompetent decision making rather than flawed ideology, IMO, and have been flayed by our media. In fact, flayed to the point that a deeply unpopular conservative, Tony Abbot, will probably win next year's election because so many people have reacted against the incompetence.

Moral for politicians of whatever stripe - do your homework, and get the job done right.

[pErvinalia]

He's not going to win. I'm on record saying that Labor didn't have to start worrying about the poor polls, about 6 months ago. Abbott was always going to be on the nose of the electorate. And it's just going to get worse for him the longer he is leader. Two-party preferred it is too close to tell now. On the other hand, if they put Turnball in, Labor might have something to worry about.

[JimC]

He's not going to win. I'm on record saying that Labor didn't have to start worrying about the poor polls, about 6 months ago. Abbott was always going to be on the nose of the electorate. And it's just going to get worse for him the longer he is leader. Two-party preferred it is too close to tell now. On the other hand, if they put Turnball in, Labor might have something to worry about.

He is an utter arseshole, but I still think that Labour has shot itself in the foot so comprehensively that he could actually win...

[Coito ergo sum]

This is from October 3 --

David Zeiler: Don’t worry about scanning headlines every day to determine the U.S. economy’s chances of entering a recession in 2013. We already know the answer.

Such indicators as gross domestic product (GDP), consumer spending, durable goods and exports all point to an economy not in a slow recovery, but on the verge of a 2013 recession.

That’s because the trend lines, rather than showing gradual improvement, are moving in the opposite direction. The economy, after spending months with its head just barely above water, is about to go under.

http://etfdailynews.com/2012/10/03/this ... r-pg-intc/

Since then the advance estimate of the 3rd Q GDP came out at 2%. A key indicator will be what the final number is on November 30.

[Coito ergo sum]

From back in May --

Election-year spending and manipulation of economic indicators will keep the economy appearing healthy in 2012, but that's where it ends, especially due to the enormous debt overhang threatening to exacerbate the coming downturn.

"Be very worried about 2013 and be very worried about 2014, because that's when the next slowdown comes. In 2002 we had a recession and in 2008, it was worse because the debt was so much higher," Rogers says.

"The next time is going to be even worse because the debt is so staggeringly high now. So if you are not worried about 2013, please — get worried."

What will the coming downturn look like?

Stocks will fall and currency markets will roil.

Read more: Jim Rogers: ‘If You Are Not Worried About 2013, Please — Get Worried’
Important: Can you afford to Retire?

http://www.moneynews.com/Headline/Roger ... /id/440789

From everything I'm hearing, it's a good idea to pull money out of the stock market now.

[amused]

Deficits don't matter.

[Coito ergo sum]

Deficits don't matter.

They don't?

[amused]

You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due.

Dick Cheney to Paul O'Neill, then Treasury Secretary

http://en.wikiquote.org/wiki/Dick_Cheney

He's kinda known for that quote.

[Coito ergo sum]

You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due.

Dick Cheney to Paul O'Neill, then Treasury Secretary

http://en.wikiquote.org/wiki/Dick_Cheney

He's kinda known for that quote.

So?

Was he right?