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

[unregistered]

 

[eyer]

and to complete the perfect storm, we just need Iran/Egypt to fire a missile at US or Israel.

That'd be bad enough...

...but worse is that neither of those two would even strike such a calamitous spark without at least the winking approval of both Russia and Communist China.

Many, including many in power in both Russia and Communist China, see America's establishment of military footholds in the mid east which now surround Iran and Syria, and front both Russia and Communist China, as America's strategy to ensure that the dollars' reign as the planet's prime currency does not end soon (an occurrence that many economists predict is inevitable).

Given America's statist history in that economic-dominant regard, and the fact that we're militarily fortifying the countries of the Pacific and southwest Asia like we never have before...

...I can definitely understand their beliefs.

But I also understand that both Russia and Communist China are now united in strategically knocking the dollar clearly off its prime pedestal in order for themselves to take its place...

...so them false-flag starting a military confrontation with America is about even odds, imwo, as America starting a false-flag military confrontation with them - in the guise of establishing an offensive no-fly zone over Syria to free those people (which both Russia and Communist China have clearly stated they will not allow), or in "response" to some Gulf of Tonkin-like aggression from Iran.

WW3 just may be lurking around the corner...

 

[jeninflorida]

That'd be bad enough...

...but worse is that neither of those two would even strike such a calamitous spark without at least the winking approval of both Russia and Communist China.

Many, including many in power in both Russia and Communist China, see America's establishment of military footholds in the mid east which now surround Iran and Syria, and front both Russia and Communist China, as America's strategy to ensure that the dollars' reign as the planet's prime currency does not end soon (an occurrence that many economists predict is inevitable).

Given America's statist history in that economic-dominant regard, and the fact that we're militarily fortifying the countries of the Pacific and southwest Asia like we never have before...

...I can definitely understand their beliefs.

But I also understand that both Russia and Communist China are now united in strategically knocking the dollar clearly off its prime pedestal in order for themselves to take its place...

...so them false-flag starting a military confrontation with America is about even odds, imwo, as America starting a false-flag military confrontation with them - in the guise of establishing an offensive no-fly zone over Syria to free those people (which both Russia and Communist China have clearly stated they will not allow), or in "response" to some Gulf of Tonkin-like aggression from Iran.

WW3 just may be lurking around the corner...

So, who will start the war? Iran or Egypt? One missile is all it takes to start WWIII. One missile into Israel from Iran or Egypt and we are off!

 

[eyer]

So, who will start the war? Iran or Egypt? One missile is all it takes to start WWIII. One missile into Israel from Iran or Egypt and we are off!

You left out...

....the USSA.

 

[unregistered]

 

[bra_man69]

San Bernardino, California, to file for bankruptcy

(Reuters) - The city council of San Bernardino, California, voted on Tuesday night to seek Chapter 9 bankruptcy protection from creditors to help restructure its battered finances.

The city of about 210,000 residents approximately 65 miles (104 km) east of Los Angeles is the third in the most populous U.S. state to opt to file for bankruptcy in recent weeks.

http://www.reuters.com/article/2012/07/11/sanbernardino-bankruptcy-idUSL2E8IB0MZ20120711

So how long before the state of California does

 

[4est_4est_Gump]

One-by-one...

 

[4est_4est_Gump]

I think the entire global economy is in recession and said so on July 6, 2012 in Plunging New Orders Suggest Global Recession Has Arrived

However, we need to define the term "recession"

Contrary to popular myth, recession does not mean two consecutive quarters of economic contraction. Rather, two consecutive quarters of economic contraction is a sufficient, but not necessary condition.

In the US, the NBER is the official designator of recession start and end points. Many recessions have started with GDP still growing.

The "Conditions for Global Recession" are even looser. "The International Monetary Fund (IMF) considers a global recession as a period where gross domestic product (GDP) growth is at 3% or less. In addition to that, the IMF looks at declines in real per-capita world GDP along with several global macroeconomic factors before confirming a global recession."

Given current conditions are what one would expect from outright stagnation (if not worse), I am confident a global recession has begun.

What About a US Recession?

On June 21, I gave 12 Reasons US Recession Has Arrived (Or Will Shortly).

http://globaleconomicanalysis.blogspot.com/

Hussman has been labeled a "permabear". So have I. So has Dave Rosenberg. So have many others. It only seems that way. The reality is Hussman, I, and Rosenberg were bullish at the March 2009 bottom.

However, the market shot up so far, so fast, that valuations became quickly stretched.

I cannot speak for the others, but I surely underestimated the effect of global coordinated liquidity move by central bankers virtually everywhere (US, EU, UK, China, Australia, Canada, etc.).

The result was we had a 10-year stock market rally in three years. Those patting themselves on the back for their "no recession" call were correct only because of a massive coordinated liquidity pump by central bankers worldwide.

Unless the "no recession" callers specifically counted on that, then they were lucky with their forecast.

...

The problem is not only recognizing the limits of "unprincipled madness" but also recognizing the market's willingness to play along. It always lasts longer than one thinks possible.

At the end of the line, every possible person is sucked into belief current conditions can go on forever. We saw that in the 2000 dot-com bubble, the housing bubble, the commercial real estate bubble that followed the housing bubble, and we see it now in the "Fed is omnipotent belief bubble".

...

In this case, the data speaks for itself. We are at the end of the line. The recession is not coming, it is not down the road, it is not likely, it is not at even at-hand.

Rather, the recession has begun. Fiscal stimulus from Congress is not coming and no amount of QE is going to stop it.

 

[mercury14]

One-by-one...

Tell us again how the stock market is a lagging indicator of the market.

 

[4est_4est_Gump]

Look up dummy...

 

[BotanyBoy]

San Bernardino, California, to file for bankruptcy

(Reuters) - The city council of San Bernardino, California, voted on Tuesday night to seek Chapter 9 bankruptcy protection from creditors to help restructure its battered finances.

The city of about 210,000 residents approximately 65 miles (104 km) east of Los Angeles is the third in the most populous U.S. state to opt to file for bankruptcy in recent weeks.

http://www.reuters.com/article/2012/07/11/sanbernardino-bankruptcy-idUSL2E8IB0MZ20120711

So how long before the state of California does

That's bullshit man, CA has the largest economy!!! Big blue has their economic shit squared away tighter then SEAL team 6 homie, and you can't prove otherwise..... all lies!!! CA is doing just fine.

 

[unregistered]

 

[4est_4est_Gump]

Like dominoes...

The markets will find it all so, so...,
http://cdn.pjmedia.com/eddriscoll/wp-content/blogs.dir/24/files/2012/07/obama_unexpectedly_thumbnail_6-30-11-3.jpg

 

[4est_4est_Gump]

That's bullshit man, CA has the largest economy!!! Big blue has their economic shit squared away tighter then SEAL team 6 homie, and you can't prove otherwise..... all lies!!! CA is doing just fine.

The markets prove it!

If California, Greece or even Spain were in trouble, they would reflect it!

:nods:

 

[4est_4est_Gump]

In the grand scheme of the ongoing economic disaster being wrought by Sacramento, it’s perhaps not a big thing, but it’s very symbolic. On the same day that the California legislature passed a law authorizing an unaffordable low-speed, “high-speed” train along the heavily traveled corridor connecting the San Joaquin Valley metroplexes of Bakersfield and Madera (where only three percent of the projected riders live), a promising young California company [XCOR Aerospace], like so many in recent years, announced that it was pulling up at least some of its Golden State stakes and heading to the Lone Star State.

But, of course, we don't believe for a second that Capital "takes flight" over taxes...



http://pjmedia.com/blog/california-prefers-trains-to-nowhere-over-rocket-ships/?singlepage=true

And burdensome regulation is a fucking myth...

:nods:

What Texas offers, though, beyond the direct financial incentives, is a much more business-friendly and employee-friendly environment. Even people with modest salaries pay almost ten percent of their salaries in California income tax. In Texas, that rate will go to zero. In California, Proposition 65 requires warning signage for every fluid on site, with fines for failure to post — just one more burden on a company that builds and operates rocket-powered vehicles. When California’s idiotic new carbon trading law comes into effect this year, the company is going to have to start tracking every gallon of fuel it burns and report it to the state. No one in Texas will care.

 

[BotanyBoy]

The markets prove it!

If California, Greece or even Spain were in trouble, they would reflect it!

:nods:

Air tight bro....air tight....if you come across any nay sayers out there just tell them if they can't provide an official government document stating that "it's all fucked up and we did it" then it's all good, and there are no problems.

 

[4est_4est_Gump]

California Demon
By JOHN H. FUND from the JULY - AUG 2012 issue

A state fast becoming America's version of Greece.

THE LATEST UNEMPLOYMENT NUMBERS show the economic recovery stalling. But as weak as the national economy is, it’s nothing compared to the condition of some states whose policies are guaranteed to scare away jobs and investment.

Call it the European Disease: Run up spending and debt, raise taxes in the name of balancing the budget, and then watch as jobs flee, deficits rise, and credit ratings fall.
Chief Executive magazine has just come out with a survey of 650 corporate CEOs on the business climate in their states. They ranked local conditions on a range of issues, including regulations, tax policies, work force quality, educational resources, quality of living, and infrastructure.

It won’t surprise anyone who has followed the annual survey to learn which state finished in the back of the pack, and which finished first. California was dead last in attractiveness to business for the eighth year in a row, while Texas came in first for the eighth consecutive time.

“CEOs tell us that California seems to be doing everything possible to drive business from the state. Texas, by contrast, has been welcoming companies and entrepreneurs, particularly in the high-tech arena,” J.P. Donlon, editor of Chief Executive, said in May during the survey’s release.

Indeed, with its malfunctioning economy, California is fast becoming an American version of Greece. It has an unemployment rate of 10.9 percent, the highest of all states save Rhode Island and Nevada. (April figures, the most recent available at press time.) Because of its generous benefit structures for the poor, California has a third of all welfare recipients in the country, even though it’s home to less than an eighth of the U.S. population. The Golden State’s environmental extremism results in electricity rates 50 percent higher than the national average.

Then there are taxes. Even middle-class families earning $48,000 a year pay a state tax rate of 9.3 percent, a higher rate than millionaires pay in 47 other states. A ballot measure backed by liberal legislators will ask state voters this fall if they want to raise the top rate on high earners to a staggering 13.3 percent.

Naturally, this economic version of Dante’s circles of hell has driven jobs from the state at an increasing pace. One relocation firm calculates that last year, a total of 254 California companies moved some of their work and jobs out of state—a number that is 26 percent higher than that of 2010 and five times higher than 2009.

http://spectator.org/archives/2012/07/11/california-demon

Obamanomics in action.

High taxes, stagnation and plenty of benefits...

 

[4est_4est_Gump]

Air tight bro....air tight....if you come across any nay sayers out there just tell them if they can't provide an official government document stating that "it's all fucked up and we did it" then it's all good, and there are no problems.

No worries mate!

 

[4est_4est_Gump]

Before there was Solyndra, there was Serious Energy. The company was personally hyped by President Barack Obama, Vice President Joe Biden, and Senator Roland Burris (remember him?) as a “green jobs” company funded by Obama’s 2009 stimulus. Today, Serious Energy is closing factories and laying off workers--and the Federal Trade Commission has found it made false claims about the energy efficiency of its products.

The story of Serious Energy is a metaphor for Obama’s political career, featuring strong-arm union tactics, corrupt Chicago politicians, crony capitalism, and media propaganda. Back in May 2010, it was already clear that Serious Energy was a fiasco, one Breitbart News called the “Weatherization Undergound.” Two years and hundreds of millions of dollars later, the company is near the end of its natural trajectory as an Obama prop.

http://www.breitbart.com/Big-Government/2012/07/10/Failure-of-Serious-Energy-is-a-BFD

Crony CAPITALISM!


☮

✌

 

[4est_4est_Gump]

Here's a man with a plan!

*snicker*

"Everybody knows that in the first half of the year, growth will be nil. So we need to mobilize all our forces, all our imagination, all our capacities to achieve lasting growth for the years ahead," French President Francois Hollande said Monday at a conference with labor and business leaders meant to lay the groundwork for new jobs policies.

"My goal is to make our social model evolve to better guarantee" its future, Hollande said. "The time has come to put France on the move, and there is no time to lose."

Among Hollande's proposals is a special new job contract under which employers would get tax breaks if they hire a young person and keep an older employee at the same time, instead of choosing one or the other.

http://www.breitbart.com/Big-Peace/2012/07/09/French-president--zero-growth-so-far-this-year

The new teleprompter template...

 

[mercury14]

California Demon
By JOHN H. FUND from the JULY - AUG 2012 issue

A state fast becoming America's version of Greece.


http://spectator.org/archives/2012/07/11/california-demon

Obamanomics in action.

High taxes, stagnation and plenty of benefits...

No you're wrong as usual. Look at Cali's spending cuts since Brown was elected. When you're finished, consider the further cuts being voted on. Do they look Greek to you?

You probably shouldn't review what the state's recent Republican governor did with their budget problems for 8 years... because it wrecks the narrative you choose to believe.

 

[4est_4est_Gump]

Prove it.

 

[mercury14]

Prove it.

Prove what?

 

[4est_4est_Gump]

Significant tax-cutting for starters...

Ask Byron. I bashed Ahnold relentlessly.

S'rious. You're a one-trick pony, attack, attack, always attack...

 

[unregistered]