Roller coaster economics: 2007 redux?
POSTED BY: SIGNYM
UPDATED: Friday, December 6, 2024 00:49
VIEWED: 2691
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Has the next major economic downturn already started? The way that you would answer that question would probably depend on where you live. If you live in New York City, or the suburbs of Washington D.C., or you work for one of the big tech firms in the San Francisco area, you would probably respond to such a question by saying of course not. In those areas, the economy is doing great and prices for high end homes are still booming. But in most of the rest of the nation, evidence continues to mount that the next recession has already begun for the poor and the middle class. As you will read about below, major retailers had an absolutely dreadful start to 2014 and home sales are declining just as they did back in 2007 before the last financial crisis. Meanwhile, the U.S. economy continues to lose more good jobs and 20 percent of all U.S. families do not have a single member that is employed at this point. 2014 is turning out to be eerily similar to 2007 in so many ways, but most people are not paying attention.
During the first quarter of 2014, earnings by major U.S. retailers missed estimates by the biggest margin in 13 years. The "retail apocalypse" continues to escalate, and the biggest reason for this is the fact that middle class consumers in the U.S. are tapped out. And this is not just happening to a few retailers - this is something that is happening across the board. The following is a summary of how major U.S. retailers performed in the first quarter of 2014 that was put together by Jim Quinn...
http://www.zerohedge.com/news/2014-05-30/has-next-recession-already-be
gun-americas-middle-class
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Quote:
Originally posted by SIGNYM:Quote:
Has the next major economic downturn already started? The way that you would answer that question would probably depend on where you live. If you live in New York City, or the suburbs of Washington D.C., or you work for one of the big tech firms in the San Francisco area, you would probably respond to such a question by saying of course not. In those areas, the economy is doing great and prices for high end homes are still booming. But in most of the rest of the nation, evidence continues to mount that the next recession has already begun for the poor and the middle class. As you will read about below, major retailers had an absolutely dreadful start to 2014 and home sales are declining just as they did back in 2007 before the last financial crisis. Meanwhile, the U.S. economy continues to lose more good jobs and 20 percent of all U.S. families do not have a single member that is employed at this point. 2014 is turning out to be eerily similar to 2007 in so many ways, but most people are not paying attention.
During the first quarter of 2014, earnings by major U.S. retailers missed estimates by the biggest margin in 13 years. The "retail apocalypse" continues to escalate, and the biggest reason for this is the fact that middle class consumers in the U.S. are tapped out. And this is not just happening to a few retailers - this is something that is happening across the board. The following is a summary of how major U.S. retailers performed in the first quarter of 2014 that was put together by Jim Quinn...
http://www.zerohedge.com/news/2014-05-30/has-next-recession-already-be
gun-americas-middle-class
"Has the down turn already started?" When was there up turn? Did I miss it? The economy is shrinking but the big story is the VA scandel, (which is a big deal) but the MSM is either under reporting it or ignoring it. Barry inherited a bad economy, but he's made it worse. All the MSM is interested in reporting is crap for the 18-49 crowd.
There's been no roller coaster, it's been going down since 08, over 90 million able body unempolyed but the powers that be are telling us that unemployment is going down. If Barry and his pals hadn't gone into politics they'd be selling used cars.
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What the hell are you talking about ? Obama's economy is on FIRE!!!
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Quote:Republicans were quick to seize on Thursday’s report as more evidence that President Obama’s policies are not working. The downward revision in gross domestic product for the first quarter was driven by businesses’ adding less to their inventories — suggesting that another inventory adjustment won’t weigh on growth in the second quarter. Businesses aggressively added to their inventories in the second half of 2013, one major reason they didn’t need to restock their warehouses and back rooms as quickly in the first three months of 2014.
Originally posted by AURaptor:
What the hell are you talking about ? Obama's economy is on FIRE!!!
Experts are now predicting that the annual pace of growth will rise to between 3 percent and 4 percent in the current quarter, and data so far for April and May appears to be much more robust. www.nytimes.com/2014/05/30/business/economy/First-quarter-GDP-data-is-
released.html
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Originally posted by second:Quote:Republicans were quick to seize on Thursday’s report as more evidence that President Obama’s policies are not working. The downward revision in gross domestic product for the first quarter was driven by businesses’ adding less to their inventories — suggesting that another inventory adjustment won’t weigh on growth in the second quarter. Businesses aggressively added to their inventories in the second half of 2013, one major reason they didn’t need to restock their warehouses and back rooms as quickly in the first three months of 2014.
Originally posted by AURaptor:
What the hell are you talking about ? Obama's economy is on FIRE!!!
Experts are now predicting that the annual pace of growth will rise to between 3 percent and 4 percent in the current quarter, and data so far for April and May appears to be much more robust. www.nytimes.com/2014/05/30/business/economy/First-quarter-GDP-data-is-
released.html
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
The "experts" have been predicting growth every year since Barry was elected. Unemploment hasn't gone down because there are more jobs out there, it's because there are fewer. Even they whores in the MSM can't cover for them anymore.
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Quote:Only you would be stupid enough to use THAT line to try to make fun of someone ELSE. Hahah, I could not MAKE funnier stuff up. Thanks for the LOL of the day, dude (intentional or not).
Originally posted by AURaptor:
What the hell are you talking about ? Obama's economy is on FIRE!!!
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Quote:
Originally posted by AURaptor:
What the hell are you talking about ? Obama's economy is on FIRE!!!
It is if you're invested in stocks and mutual funds. All told we made back all the paper losses from 2008-2010, and we're up about 65% since then. So ....
Why should I give a fuck about unemployment and labor participation rates? I don't.
Why should I give a fuck about the national economy's quarterly growth? I don't.
Why should I give a fuck about any Govt. financial metric? I don't.
My stock profits are locked in with stop sell markers on everything. I don't pretend to understand why Wall Street has done so well in the last few years, but I know that it's the easiest money I've made since the '90s.
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Quote:
Originally posted by chrisisall:Quote:Only you would be stupid enough to use THAT line to try to make fun of someone ELSE. Hahah, I could not MAKE funnier stuff up. Thanks for the LOL of the day, dude (intentional or not).
Originally posted by AURaptor:
What the hell are you talking about ? Obama's economy is on FIRE!!!
Focus like a laser on employment, Summer of recovery, shovel ready jobs...
Barry's got this, folks.
Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen
I'm just a red pill guy in a room full of blue pill addicts.
" AU, that was great, LOL!! " - Chrisisall
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So I ask myself, does rappy not know that if you want to quote someone to make fun of how wrong they were, they actually have to have SAID IT?
Of course he does. Even rappy's not that stupid. So, more trolling from the troll. How expected. And how very very obvious.
Quote:
Originally posted by AURaptor:
What the hell are you talking about ? Obama's economy is on FIRE!!!
OONJERAH - We are too dumb to live and smart enough to wipe ourselves out.
"You, who live in any kind of comfort or convenience, do not know how these people can survive these things, do you? They will endure because there is no immediate escape from endurance. Some will die, the rest must live."
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