Cut in Household Spending Points to Recession

'Recession signals in the world’s largest economy are flashing red again.

Growth in the second quarter slowed to a pace that has typically been followed by a contraction within a year. Household spending fell in June for the third straight month; never in the past five decades has this happened outside of a slump. The Standard & Poor’s 500 Index plunged 16.8 percent in 11 days, performance that’s occurred only twice since at least 1970 without indicating a downturn....'

http://www.bloomberg.com/news/2011-...ousehold-spending-s-consecutive-declines.html

 

Cut in Household Spending Points to Recession


Duh...printing money to cover the massive flaws in the economy is doing nothing but putting off the inevitable recession and making it FAR worse then it would have been had the government minded it's own economically-pathetically ignorant business.

Any American adult who votes and actually believes that the government OR the Ben Bernanke-led Fed knows how to properly look after an economy simply do not know what they are talking about and are INCREDIBLY naive.

 

We're in a depression.

 

Recession may be causing women to have fewer or no children, suggests demographer...

Economic turmoil taking its toll on childbearing
8/12/2011 - Women starting families today might not think they have a lot in common with women during the Great Depression, but a new government analysis of birth data suggests otherwise.

 

Recession affecting the children...

National child welfare survey examines recession
Aug 17,`11 -- Karla Washington worries how she will afford new school uniforms for her five-year-old daughter.

 

Economy Not Double-Dipping Yet as Production-to-Consumer Spending Increase

Industrial output climbed in July by the most this year, according to figures from the Federal Reserve yesterday. Reports last week showed retail sales rose by the most in four months and claims for jobless benefits dropped to the lowest level since early April.

http://www.bloomberg.com/news/2011-08-17/u-s-spending-increase-holds-off-double-dipping.html

You were saying?

More signs the economy was recovering in July from the slow patch earlier in the year.

We'll have to see whether the shattered confidence caused by the Republican Tea Party debt ceiling extortion stunt results in a significant reversal of this trend, which not uncoincidentally would help the Tea Party Republicans chances in the next election.

 

LOL...good one Iriemon.

OK T-Baggers...next lie please?

 

You think we'll hear Sean and Rush talking about this data?

 

So what...big deal.

'Treasury Yield Curve Flattest in Week on Concern U.S. Recovery Faltering'

'The extra yield Treasury investors get to hold 30-year bonds instead of two-year notes shrank to the narrowest in a week on speculation the U.S. economic recovery is stalling.'

http://www.bloomberg.com/news/2011-...from-record-low-before-inflation-reports.html


We will see...and I will probably profit as the economy continues to falter and the gov't./Fed continues to make things worse all the way to the bank with my gold and silver.

Silver is up about 1% today and gold is up to $1788 and maybe close at a new record high.


If you bet on the government/Fed...you will lose.

Guaranteed.

Don't say I didn't warn you.

 

LOL -- there is? I don't remember much temporary good new back in Jan 2009.

But I wouldn't be surprised at all to see the economy turn back downward after the confidence busting Republican Tea Party debt ceiling extortion fiasco.

 

We shall see.

And why you keep mentioning the Tea Party is beyond me...bit of an obsession there I think.

 

They were the motivators behind it.

 

U.S., EU ‘dangerously close' to recession: Morgan Stanley

'Morgan Stanley slashed its global growth forecast for 2011 and 2012, saying the U.S. and the euro zone were “dangerously close to a recession”, and criticized policymakers in Washington and Europe for not acting more decisively to contain the sovereign debt crisis.'

http://www.theglobeandmail.com/repo...e-to-recession-morgan-stanley/article2133314/

 

U.S. jobless claims rise, unnerving investors

'U.S. initial jobless claims took a small step backward, rising for the period ended last week. But the setback seems lost amid a widespread retreat from stocks on Thursday.'

http://www.theglobeandmail.com/glob...aims-rise-unnerving-investors/article2133426/

 

U.S. Stocks Tumble on Global Growth Concerns, Economic Reports

'U.S. stocks slumped after Morgan Stanley cut its forecast for global growth and government data showed that jobless claims rose and consumer inflation accelerated more than forecast.'

http://www.bloomberg.com/news/2011-...e-jpmorgan-morgan-stanley-netapp-decline.html

 

Consumers Most Negative on U.S. Economy Outlook Since Recession

'Consumer confidence in the U.S. economic outlook slumped in August to the lowest level since the recession, raising the risk that spending will dry up.'

http://www.bloomberg.com/news/2011-...e-on-u-s-economy-outlook-since-recession.html

 

After the economy was trending positively in July, we are seeing the effect of the huge hit to confidence that came with the Republican Tea Party debt ceiling extortion fiasco, couple with concerns about Europe.

 

Existing Home Sales in U.S. Fell in July

'Sales of U.S. previously owned homes unexpectedly dropped in July, reflecting an increase in contract cancellations due to strict lending rules and low appraisals.
Purchases decreased 3.5 percent to a 4.67 million annual rate, the weakest since November, figures from the National Association of Realtors showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for an increase in sales. The median price dropped 4.4 percent from a year earlier, and 16 percent of real estate agents polled said they had at least one pending contract canceled last month.'

http://www.bloomberg.com/news/2011-08-18/existing-home-sales-in-u-s-fell-in-july.html

 

Just to reiterate...

'printing money to cover the massive flaws in the economy is doing nothing but putting off the inevitable recession and making it FAR worse then it would have been had the government minded it's own economically-pathetically ignorant business.

Any American adult who votes and actually believes that the government OR the Ben Bernanke-led Fed knows how to properly look after an economy simply does not know what they are talking about and are INCREDIBLY naive.'

 

After the economy was trending positively in July, all these are expected consequences to the huge hit in confidence we saw with the Republican Tea Party debt ceiling fiasco.

 

There are other indicators as well.

The Transports have taken a bleep-kicking. Dow Theory states that there can be no recovery without the transports.

This makes sense of course ; If trains, trucks, and air freight are not moving .. the economy is not moving.

The transports are a leading indicator.

2) Where are the Jobs .. I am reading about Bank of A laying off loads of workers and other corps as well .. Just wait until they start laying off military and other administrative personnel

3) Gold .. the canary in the coal mine .. is up from 1200 to 1800 WTF .. the marjority of the parabolic move over the last month.

These things are scary.

 

Yes, that's right, all of the problems with the economy are due to the bad mojo created by a few obstructionists. Maybe if your High Priests in Washington would cast the right magic spells and appease the animal spirits, everything would be back to normal. Voodoo economics, that's what you seem to believe in.

 

Where are the jobs?

Housing Foreclosure Crisis Five More Years

http://www.housingpredictor.com/2011/foreclosure-crisis-forecast.html

But it's all Obama's fault.

 

I'm sure that the fact that the Dow was up over 90% a month ago before it tanked 2000 point just as the Republican Tea Party was pulling its debt ceiling extortion stunt was just one giant coincidence.

 

Housing’s Drag on Economy May Worsen

'...As the U.S. economy shows signs of sputtering, instability on Wall Street is sapping the confidence of would-be property buyers, said Karl Case, co-founder of the S&P/Case-Shiller home- price index. That means housing, which aided every recovery except one before the most recent recession, may deepen its five-year drag on growth.

“There’s a dramatic effect on an economy when a major sector is flat out,” said Case, professor emeritus of economics at Wellesley College in Massachusetts. “If housing takes another leg down, it’s an accelerator. It’s going to make a recession happen faster and deeper.”

Home sales in July fell to the lowest point this year, the National Association of Realtors said in a report last week.'

http://www.bloomberg.com/news/2011-...-as-housing-s-drag-on-economy-may-worsen.html