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Monday, June 13, 2011

Is a double-dip recession coming?

Prospect of a Double-Dip Recession - WSJ.com

14 comments:

  1. Au contraire. Anything you blame on Bush I can blame on either the democrat congress or Clinton. It started in Bush's era, but got way worse with Obama.

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  2. What many Americans forget is that the Banking/Finance regulations that allowed alot of the environment to flourish in those sectors that caused so much trouble was signed into law by Clinton.

    Mind you I am an outsider and was not impressed by Bush and I hope the Republicans will possess enough good sense to not try Palin again.

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  3. Au contraire.

    It was actually a joke.

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  4. Carrie was being sarcastic.

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  5. It's still Bush's fault, even if it was a joke.

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  6. It would, of course, be the natural reflex of the Obama administration to blame the recession on Bush. But if the economy heads toward a double-dip, they couldn't easily blame Bush for that one.

    On balance, I liked Bush's economic policies, although I thought it was pretty lame, when the Republicans had the presidency and both houses of Congress, to have had to settle for tax cuts that would "expire".

    There was some good history in this article, too (recent history) -- I don't think the Fed is likely to raise interest rates to 20% in the near future.

    I work in an industry that's affected by the ups and downs of the economy, and so when there's talk of another recession (and I can get laid off in recessions), I try to look closely at what's going on.

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  7. John,

    I had an office in Washington D.C. during Bush 41. I was close to one of his ambassadors at large, "the Dragon Lady".

    With that said, "It would, of course, be the natural reflex ...", I say, for "all" of us, it is our nature to immediately blame others for our sinful actions or thoughts or words said!

    But, for this double-dip recession. It is far worse than that.

    The system that most of the world runs with was started, framed first in 1913 and codified in 1916. As history proves, shortly thereafter the Federal Reserve system moved our currency off the gold standard and finally in 1964 we got off the silver standard.

    What is left?

    Fiat and fractionalized banking.

    Today, it means little in the financial markets whether or not your income comes from growing food, fishing food or killing four legged or two legged food.

    The world's economy, including the economy of the United States, is an out of control train wreck that after the train wrecked, then, and without notice, the train was reassembled and placed back on already ruined tracks. There is no "end" at the end of these tracks. The phantom, fractionalized banking that produces fiat money, will continue to grow and grow and grow until the Lord returns.

    It's like this. I predict we will have this occurrence in the next few years in the United States like what actually did happen in Germany during WW2. A man wheeled his German marks down a sidewalk in a wheel barrow to the local bakery to buy a loaf of bread for his family. Because he couldn't get the wheel barrow through the bakery's door he parked the wheel barrow full of marks just outside the doorway, went in and bought the bread and came out immediately to get the money to pay for the bread. The money was on the sidewalk and the wheel barrow was missing! :)

    The best thing for us to do, "get out of debt", is the worse thing for this economic system!

    The world's economic system only works when we borrow money and spend it!

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  8. "Is a double-dip recession coming?"

    Could be worse on the 2nd dip?

    Should Obama be re-elected to a 2nd term... it'll be FUBAR, totally FUBAR.

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  9. "It's Bush's fault" is a quip originally from Peter Pike (I think).

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  10. PATRICK CHAN SAID:
    "
    'It's Bush's fault' is a quip originally from Peter Pike (I think)."

    Yes, Peter Pike is the Shakespeare of the blogosphere. All our best quips are unattributed rip-offs from Pike.

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  11. John

    as I contemplate our fate as an economic nation, doomed without Christ, secured with Him when we remain in Him, these verses come to mind:::>

    Psa 9:13 Be gracious to me, O LORD! See my affliction from those who hate me, O you who lift me up from the gates of death,
    Psa 9:14 that I may recount all your praises, that in the gates of the daughter of Zion I may rejoice in your salvation.
    Psa 9:15 The nations have sunk in the pit that they made; in the net that they hid, their own foot has been caught.
    Psa 9:16 The LORD has made himself known; he has executed judgment; the wicked are snared in the work of their own hands. Higgaion. Selah
    Psa 9:17 The wicked shall return to Sheol, all the nations that forget God.
    Psa 9:18 For the needy shall not always be forgotten, and the hope of the poor shall not perish forever.
    Psa 9:19 Arise, O LORD! Let not man prevail; let the nations be judged before you!
    Psa 9:20 Put them in fear, O LORD! Let the nations know that they are but men! Selah

    ...

    Psa 10:13 Why does the wicked renounce God and say in his heart, "You will not call to account"?
    Psa 10:14 But you do see, for you note mischief and vexation, that you may take it into your hands; to you the helpless commits himself; you have been the helper of the fatherless.
    Psa 10:15 Break the arm of the wicked and evildoer; call his wickedness to account till you find none.
    Psa 10:16 The LORD is king forever and ever; the nations perish from his land.
    Psa 10:17 O LORD, you hear the desire of the afflicted; you will strengthen their heart; you will incline your ear
    Psa 10:18 to do justice to the fatherless and the oppressed, so that man who is of the earth may strike terror no more.

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  12. The only way we're in a "recovery" is that the weasels in Washington keep moving the goal-posts. Redefine what it means to get out of trouble, and voila! we can be out of trouble, like, yesterday already.

    If our economy shrinks by 10%, but inflation raises prices 20%, hey! guess what, we're in "positive" territory. The economy must be "growing!"

    Ignore the millions of new jobless, the college grads who can't find jobs, the foreclosures, the falling tax revenues.

    Change the measures of inflation by dropping out things like FOOD and FUEL, because these "luxury goods" are too volatile to help with real analysis.

    It's not "Bush's" fault, or Clinton's (our first black President, to listen to his claim), or the fault of O'Bama (our first Irish President). Or, rather it's ALL their faults, and Congress' and the Supremes (or if you prefer, the Nine Nazgul).

    Moscow-on-the-Potomac is the sewer that is backing up its sludge into every town and home in the USA. Every self-serving "solution" those freaks come up with is guaranteed to sink us further into the Dark Ages.

    The irony is: no country ever deserved the government it got more than this one. By any measure--including the biennial elections of its legislators--this people has it the way it wants it.

    We demand the right to postpone our day of reckoning indefinitely. And as long as the jugglers keep the balls in the air, the fantasy continues. But eventually, entropy and gravity have their say.

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  13. Hi Bruce -- I tend to have a bit more hope in that we have the ability to talk about such things, learn from them (at a broad cultural level, thanks to the pervasiveness of communications, and even (yes, it is a hope) elect someone with somewhat Reagan-esque tendencies, at least.

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