What happened to all of the doom and gloom economic threads?

[Ulaven_Demorte]

That dizzying death spiral was in reaction to an openly hostile business administration clearly stating its intentions...

They turned a garden-variety recession into a full-fledged panic while at once trying to shield the root causes, the Democrat slush fund at Freddie and Fannie which ran on Harvard Brain. Now, we see "too big to fail" needing to be bailed out again since foreclosures are on the rise again (as are bank failures) under the "gradually improving economy" that you are so hopeful of.



BP proves why only the stupid still do business in America.

Haliburton bugged out...

You're forgetting who was in charge when that death spiral began Cap'n. In your haste to lay blame on the newly elected Democratic majority you've forgotten that the only economic related legislation passed before the recession began (which you and yours denied for a year) was the unfinished, and unmodified, budget of the previous congress.

Garden variety recession?
Ok, time to do something productive, trying to talk to you is like bashing yourself in the head with a hammer.. Because it feels so good when you stop.

Make sure you squirrel away some more gold Cap'n Little..

 

[Frisco_Slug_Esq]

Yeah, a weak-kneed lame duck President with Democrat advisors and a Democrat Congress in charge of the people's purse that decided to return to Nixonian price controls and monkey with prevailing market wages in the wager that paying the useless more would create that trickle-up boon that led to the roaring economy of good intentions...



Like Obama, who had a year to "fix" drilling regulations, they Democrats had ample opportunity to "fix" the economy, instead they decided to merely act in favor of their voters and Wall Street (and Big Oil) contributors...

 

[Frisco_Slug_Esq]

PS - I got out of the market as soon as Obama started leading in the betting polls and used it to buy gold.

I sell high and buy low.

Now I'm going to wait for the "Broken Window" Bubble, take my tax hit this year, and put the 401K money back in Roth vehicles.

You might think about doing something similar, so we don't have to hear you cry about your 401K that Bush ruined...
__________________
There is still a sense about Mr. Obama that he needs George W. Bush in order to give his presidency full shape and meaning. In this he is like Jimmy Carter, who needed Richard Nixon, or rather the Watergate scandal, which made him president. ... Mr. Carter needed to be able to point at Nixon and say, "I'm not him. He dirty, me clean. You hate him, like me." Carter's presidency was given coherence and meaning by Nixon, Watergate, and without it that presidency seemed formless. Mr. Obama, in the same way, needs Mr. Bush standing in the corner like Boo Radley, saying "Let's invade something!" But Mr. Bush is wisely back home in Texas finishing a book, and the president never sounds weaker than when he suggests his predicament is all his predecessor's fault.
Peggy "Better Late Than Never" Noonan

 

[Frisco_Slug_Esq]

To everything spend, spend, spend,
This is the season spend, spend, spend,
For every purpose under the sun...

German Chancellor Angela Merkel directly contradicted US President Barack Obama on Saturday, saying spending cutbacks were now needed following the spate of throwing money at the global economic crisis.

Referring to the G20 summit in Canada next weekend, Merkel said in a videotaped message that “we are going to discuss when to quit the phase of short-term measures and go on to lasting budget consolidation.”

Such a move was “urgently necessary, in the view of the Europeans and particularly of Germany,” she said.

Obama urged the world’s leading economies Friday to avoid scaling back government spending too quickly or risk derailing the global recovery.

“We worked exceptionally hard to restore growth; we cannot falter or lose strength now,” Obama said in a letter to G20 leaders ahead of a June 26-27 summit in Toronto.

“Our highest priority in Toronto must be to safeguard and strengthen the recovery,” Obama said in the letter dated June 16, but released Friday amid concerns about the pace of the global recovery.

 

[koalabear]

More borrowers in trouble despite federal help
Result could be a new wave of foreclosures as thousands exit program

http://www.msnbc.msn.com/id/37827936/ns/business-real_estate

 

[Frisco_Slug_Esq]

Yeah, U_D has the Drudge Report on ignore...





He knows what's there and the "reliable" Huffington post has not mentioned it.

We turned the corner six months ago...

HELLO! The DOW hit 11,000! What more do you need?

PLUS as the most essential man on second shift, U_D points out to us that HIS employer is going gangbusters business-wise and his 401K is doing better than EVER under the Bush years...

 

[unregistered]

 

[Frisco_Slug_Esq]

No, we can't forget when (and where) the death spiral began...




Nancy's clean house.

 

[Beco]

Wall St flat as home sales disappoint
By Masa Serdarevic in New York

Published: June 22 2010 15:36 | Last updated: June 22 2010 15:36

US stocks were mixed in early trade on Tuesday morning as worse-than-expected existing home sales set a bearish tone.

Existing home sales fell 2.2 per cent month over month in May to an annual rate of 5.66m units from an upwardly-revised 5.79m units in April. Economists had expected a rise to a 6.12m annual rate

 

[Ulaven_Demorte]

Hmmm, a Democrat Congress?

Reading comprehension is not your greatest ally.. The revisionist history you and Cap'n Slugforabutt (earthworm Jim reference) try to pass off as reality simply holds no water.

The newly installed Democratic majority had passed no major economic legislation or budgets of it's own that could have triggered the recession since taking over from the previous majority. In fact, they had mostly managed to finish up budgetary work left for them by the outgoing congress who had failed to pass their own and left it for the new session to clean up.

Here you are still trying to pass off the myth that Democratic Congress, who had been in office for a few short months and had passed no major economic legislation (other than the previous congress' unfinished business), caused the economic problem that you and yours spent a year in denial about.

This seems to be a trend with Republicans in office and their apologists at home. Fuck it up, trash it, ignore it and put it off. Then let someone else clean it up.. Then blame them for the mess you caused.

 

[unregistered]

 

[unregistered]

 

[Ulaven_Demorte]

Are you saying they didn't spend during their two years of control of Congress before Bush left office? If they did nothing during those two years while the problem developed, why aren't they to blame...I know, they're Democrats.

What I'm saying (again, reading comprehension doesn't seem to be your closest friend) is that the recession, which started in December of 2007 was not caused by anything the newly elected Democratic majority had done.. Since, and here's the important part, they hadn't passed any budgetary legislation of their own until two months before the recession began.

Now you can either try to make yourself and others believe that their budget was SO unbelievably insane that it caused a recession in an incomprehensibly short mount of time (that you and yours denied for a year) -OR- you can face the fact that it was caused by the previous majority and their rather loose definition of fiscal responsibility and drunken sailor spending which they, and you have developed selective amnesia about.

If you want to blame congress cool, just make sure you're blaming the "right" congress. You know, the ones who spent years in the majority talking the talk about "fiscal responsibility" while spending like drunken sailors (off the books in the case of the previous President and his War on Terror™ of course).

 

[RobDownSouth]

PS - I got out of the market as soon as Obama started leading in the betting polls and used it to buy gold.

I sell high and buy low.

Now I'm going to wait for the "Broken Window" Bubble, take my tax hit this year, and put the 401K money back in Roth vehicles.

You might think about doing something similar, so we don't have to hear you cry about your 401K that Bush ruined...

Simply Amazing, A_J.

This is, by my count, the fourth time in the past ten years you've successfully timed the market. By most estimates, a Wall Street stock picker is considered a success if he or she times ONE market turn, and ascends to near-mythical status if he or she times TWO market turns.

But YOU...you've timed FOUR of them.

Simply incredible.

I'm baffled, given your incredible run of success, why you haven't ditched your low-paying cubicle job in Shitheel, Missouri and headed out for Wall Street. With your investing history, I'm certain that major brokerages would engage in a record bidding war for your services....

...just as soon as they see the paper trail of stock picks backing up your claims.

 

[Ulaven_Demorte]

BTW, the job situation in the Gulf might be picking up soon as a Federal Judge has just ruled to throw out the Obama moratorium on drilling.

We know now that at least one LA judge knows which side his bread is buttered on.

I'm sure all of the out of work fishermen are just going to be lining up for oil rig work.

Not to mention that there hasn't been a "job issue" with oil workers in the gulf due to the moratorium and there wouldn't have (according to the arguments of the plaintiff's own attorney) unless the moratorium went on for 24 to 36 months.

Now the federal government appeals the decision.

 

[koalabear]

We know now that at least one LA judge knows which side his bread is buttered on.

I'm sure all of the out of work fishermen are just going to be lining up for oil rig work.

Not to mention that there hasn't been a "job issue" with oil workers in the gulf due to the moratorium and there wouldn't have (according to the arguments of the plaintiff's own attorney) unless the moratorium went on for 24 to 36 months.

Now the federal government appeals the decision.

Drilling Moratorium Means Hard Times for Gulf Rig Workers (More jobs lost...)

http://www.freerepublic.com/focus/f-news/2537117/posts

 

[unregistered]

 

[Ulaven_Demorte]

Ahahahahahahahahahahahahahahahaha...snort!

*yawn*

As I said..

Martin Feldman, a U.S. District Court Judge for the Eastern District of Louisiana, held energy stocks in Transocean and Halliburton, as well as two of BP's largest U.S. private shareholders -- BlackRock and JP Morgan Chase as per financial disclosure forms from 2008 ( the latest available).

Thirty-seven of the 64 active or senior judges in key Gulf Coast districts in Louisiana, Texas, Alabama, Mississippi and Florida have links to oil, gas and related energy industries, including some who own stocks or bonds in BP PLC, Halliburton or Transocean, according to the Associated Press.

He knows exactly on which side his bread is buttered.

 

[Ulaven_Demorte]

Drilling Moratorium Means Hard Times for Gulf Rig Workers (More jobs lost...)

http://www.freerepublic.com/focus/f-news/2537117/posts

I'm sure the Freepers know more about the job situation than the oil interests own attorney..

 

[koalabear]

I'm sure the Freepers know more about the job situation than the oil interests own attorney..

nice edit.

 

[Ulaven_Demorte]

nice edit.

Poor little bear.. Still grasping desperately at typos.

I suppose a small victory is better than constantly getting your face rubbed in your own ignorance huh?

 

[koalabear]

Poor little bear.. Still grasping desperately at typos.

I suppose a small victory is better than constantly getting your face rubbed in your own ignorance huh?

All I could say, your post was shit as usual. Stick to your sanitary engineering duties.

 

[firespin]

Somebody should shove some sunshine up these guys' asses, stat:

"President Barack Obama said Tuesday that the US economy was "not moving as fast as we want," amid a tepid recovery from the worst economic crisis in a generation."

"In testimony to Congress, Geithner admitted the economy was "still going through an incredibly difficult period," as he warned the impact of the crisis would be "lasting."

"Millions of Americans are still looking for work and are suffering from the damage of a deep recession. The impact of this crisis will be lasting.""

Unless they could just be posturing to set the stage for more handouts erm "stiumulus" in an election year...nah...would these guys do that?

http://www.google.com/hostednews/afp/article/ALeqM5hHKgeNe3wS4vXL-XDZ4yT2yvHmlQ

 

[Ulaven_Demorte]

All I could say, your post was shit as usual. Stick to your sanitary engineering duties.

I get it, reality is dismissed when it conflicts with what you want to believe. I'm sure the attorney that represented oil interests in the gulf didn't say that they were concerned that the moratorium would affect jobs, if it lasted 24 - 36 months.

A favorite tactic of the "right", lay out the "possibles" of a plan that doesn't exist to argue against one that does.

Barring that, pick out typos and sling baseless slander about as if you know what the hell you're talking about.

Poor little bear..

Don't worry, I'm sure you'll get a pat on the head from Firespun for the personal attack. You're stealing his thunder though.

 

[Ulaven_Demorte]

Somebody should shove some sunshine up these guys' asses, stat:

"President Barack Obama said Tuesday that the US economy was "not moving as fast as we want," amid a tepid recovery from the worst economic crisis in a generation."

"In testimony to Congress, Geithner admitted the economy was "still going through an incredibly difficult period," as he warned the impact of the crisis would be "lasting."

"Millions of Americans are still looking for work and are suffering from the damage of a deep recession. The impact of this crisis will be lasting.""

Unless they could just be posturing to set the stage for more handouts erm "stiumulus" in an election year...nah...would these guys do that?

http://www.google.com/hostednews/afp/article/ALeqM5hHKgeNe3wS4vXL-XDZ4yT2yvHmlQ

The only people who expected an "instant recovery" happen to be the same people who have been screaming "Nobama" since November of 2008.