Here comes the other economic shoe dropping...

[egbert]

Now, when there isn't any money, there isn't any money.

If only that were true, then Banks wouldn't exist! They make their livelihood by, among other scams, lending out and charging interest on money they don't really have!

[Coito ergo sum]

You really should wank more.

LOL -- and, I haven't even gotten to Europe and China yet. The world is teetering....

We'll all be out of money and options soon, so wanking will be the only thing we'll have left to do.

you silly

us marxists have always been pro sex, alone and together

cos it's about the only thing the masses can do for free

( and it's fun and feels good )

What are you babbling about?

[laklak]

Raise taxes, cut spending.

I'll repeat that, in case it didn't sink in.

Raise taxes, cut spending.

[Coito ergo sum]

http://www.cnbc.com/id/42796520

U.S. economic growth slowed more than expected in the first quarter as higher food and gasoline prices dampened consumer spending, and sent a broad measure of inflation rising at its fastest pace in 2-1/2 years.



But the pull back in output, which was also the result of harsh winter weather, a widening trade gap as well as weak government spending, will probably be fleeting given a firming labor market.

Growth in U.S. gross domestic product—a measure of all goods and services produced within U.S. borders—braked to a 1.8 percent annual rate after a 3.1 percent fourth quarter pace, the Commerce Department said on Thursday. Economists had expected a 2 percent growth pace.

"We hit a bit of a soft patch in the first quarter, but that should prove temporary because weather was a drag and we got blindsided a bit by a jump in gasoline prices late in the quarter," said Ryan Sweet, a senior economist at Moody's Analytics before the report was released.

[egbert]

That's a pile of bullshit if I ever heard one.

Nothing bad has happened? Talk about the record numbers of people in mortgage default. Talk about the record number of people who have lost their homes to foreclosure. Talk about the 9.9% unemployment rate in the US and the 10.6% in Ireland and the 17% in Spain....the 8.8% in France...and the 8.3% (and rising) unemployment rate in the European Union overall.

Talk about the record losses in people's U.S. 401k Plans and IRA's (or equivalent retirement savings accounts in other countries). People lost 30%, 40% and 50% - and more - of their savings due to the stock plunges. Talk about the people who have had to take record numbers of loans and early withdrawals from those plans, and suffer penalties.

Nothing real has happened? It's all just paper bets between big bankers? What a load of ignorant shit that was.

He is a comedian. Its a comedy show.

[maiforpeace]

It's all twue!!!

[JimC]

More sex and less money!

[Coito ergo sum]

The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.

"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.

"When the problems arise next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around."

The well-known investor believes the government won't shut down in August if agreement isn't reached on raising the debt ceiling, but he did say "draconian cuts" are needed in taxes and spending, especially military spending.

"We’ve got troops in 150 countries around the world. They’re not doing us any good, they’re making enemies. They’re costing us a fortune," he said.

Rogers said he is "not long anything in the U.S." and short on American tech stocks. He owns Chinese stocks as well as commodities and would love the world price of silver and gold to come down so he could "pick up the phone and buy more."

http://www.cnbc.com/id/43328325

[Atheist-Lite]

The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.

"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.

"When the problems arise next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around."

The well-known investor believes the government won't shut down in August if agreement isn't reached on raising the debt ceiling, but he did say "draconian cuts" are needed in taxes and spending, especially military spending.

"We’ve got troops in 150 countries around the world. They’re not doing us any good, they’re making enemies. They’re costing us a fortune," he said.

Rogers said he is "not long anything in the U.S." and short on American tech stocks. He owns Chinese stocks as well as commodities and would love the world price of silver and gold to come down so he could "pick up the phone and buy more."

http://www.cnbc.com/id/43328325

The path of all empires only America rose higher than most and blew a bigger smoke ring before it's rapid demise.

[Coito ergo sum]

US Is in Even Worse Shape Financially Than Greece: Gross
Published: Monday, 13 Jun 2011 | 10:33 AM ET Text Size
By: Jeff Cox
CNBC.com Staff Writer

When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco's Bill Gross told CNBC Monday.

http://www.cnbc.com/id/43378973

[Coito ergo sum]

President Obama's Council on Jobs and Competitiveness met today in Durham, NC at Cree Inc., a company that manufactures energy-efficient LED lighting. One of the Council's recommendations to President Obama was to streamline the federal permit process for construction and infrastructure projects. It was explained to Obama that the permitting process can delay projects for "months to years ... and in many cases even cause projects to be abandoned ... I'm sure that when you implemented the Recovery Act your staff briefed you on many of these challenges." At this point, Obama smiled and interjected, "Shovel-ready was not as ... uh .. shovel-ready as we expected." The Council, led by GE's Jeffrey Immelt, erupted in laughter.

The Obama administration promised the Recovery Act ("the stimulus") would prevent the jobless rate from going over 8%. It now stands at 9.1%.

(after reaching as high as 10% -- http://nation.foxnews.com/president-oba ... e-expected

Laugh it up, fuckwad...

[Coito ergo sum]

1.9 Million Fewer Americans Have Jobs Today Than When Obama Signed Stimulus

http://cnsnews.com/news/article/after-2 ... ing-19-mil

[Coito ergo sum]

Fed Chief Bernanke "puzzled" as to why the economy isn't responding to their measures... http://apnews.myway.com/article/20110622/D9O16AK02.html

Really? You thought "quantitative easing" (printing money and jacking up inflation), together with massive WASTEFUL government spending on mainly bullshit "shovel un-ready" projects and boondoggles, didn't serve to bootstrap the economy back to normal? Jeez...I wonder why that didn't work?

[Atheist-Lite]

Fed Chief Bernanke "puzzled" as to why the economy isn't responding to their measures... http://apnews.myway.com/article/20110622/D9O16AK02.html

Really? You thought "quantitative easing" (printing money and jacking up inflation), together with massive WASTEFUL government spending on mainly bullshit "shovel un-ready" projects and boondoggles, didn't serve to bootstrap the economy back to normal? Jeez...I wonder why that didn't work?

They need to print more money and distribute it to the masses quickly for maximum effect. They need to do it now, right away. Money needs to be thrown out of helicopters. Lots of money. This will work.

[Coito ergo sum]

DOW plummets 200 points. http://www.cnbc.com/id/43508046

Jobless picture grows worse: http://www.cnbc.com/id/43507567 [of course, that's Bush's fault...the alleged 2.1 million jobs created are Obama's doing, but the unemployment increases are Bush's fault...]