Recession Ending

[Nadda]

I really don't think they believe it any more than we do.

If they dont, why are they still pushing the "spending spree" agenda? If i understand correctly it was Obama encouraging G20 countries to continue borrowing to sustain economic growth. It seems to me that they believe it will carry us into recovery...

Do you think they may be too conceited to admit that they think it has failed or to actually reverse their policies?

[rickoff]

If they dont, why are they still pushing the "spending spree" agenda? If i understand correctly it was Obama encouraging G20 countries to continue borrowing to sustain economic growth. It seems to me that they believe it will carry us into recovery...

Do you think they may be too conceited to admit that they think it has failed or to actually reverse their policies?

Actually their plan hasn't failed. It is doing exactly what they wanted all along, which is to promote socialism, attack freedom and liberty, shred the Constitution and Bill Of Rights, and bury this nation in unrepayable debt. Of course they want the rest of the world's countries to do the same so that the Ruling Class agenda can be realized more quickly, and we can then get on to a one-world government, one-world monetary system, and a well controlled, microchipped population (albeit a greatly reduced population).

[Mad Scientist]

Isn’t it ironic we just celebrated our independence day which proclaims how lucky we are to have the right to freedom of speech and freedom of the press, etc. etc. Meanwhile our government has just pass a law prohibiting journalists, reporters, bloggers or photographers getting close up reports and pictures of the Gulf cleanup operation. Anyone caught trying to exercise their right to free speech is subject to arrest, a $40,000 fine and prosecution for a federal felony crime. Obviously we don’t what people running around that might question the competence of our fearless leaders.

Also just recently Obama was given the power to be able to shut down the internet in the event of a national emergency. Like say in the worst cast scenario of a mass evacuation of millions of people from the golf area.

Also the Transportation Security Administration is blocking certain websites from the federal agency's computers, including halting access by staffers to any Internet pages that contain a "controversial opinion."

To me it sure looks like a strange way to show support for our rights and freedoms. Yet how many people can see this going on right in front of their face and still not recognize what is happening?

[rickoff]

how many people can see this going on right in front of their face and still not recognize what is happening?

My guess would be a lot less than in 2008, although still a large number that haven't removed their blinders and think that all is well.

[rickoff]

Recession ending?

Those who believe that things are getting better in the USA should take a moment to view this eye opening month-by-month visual comparison of unemployment rates across the US as shown by county tallies. The lighter colorations on the US map show counties where unemployment was relatively low, while high unemployment is shown by increasingly darker areas. The comparison begins in January, 2007, when the average unemployment rate was 4.6%. As you watch, ask yourself if things are now looking brighter, or if the outlook is dark and gloomy.

multimediafinal

[rickoff]

Recession Ending?

Home Sales Plunge 27 Percent to 15-Year Low as Economy Weakens

[Mad Scientist]

It’s not too surprising about the drop in home sales. With the government tax credits expiring those that could afford it rushed out and bought a home, even thought they might not have been really ready to do so. This produced a nice spike in home sales. But seeing as how those people, who would have been buying now, already have their home this caused current sales to tank. This wouldn’t have been done to weaken an already weak economy, would it?

And if that is not enough we have a whole new round of taxes coming up the first of next year as many old exemptions are eliminated.
It should be an interesting new year.

Three Devastating Tax Waves Will Destroy Many

[rickoff]

Recession Ending?

Unemployment is still sky high. Americans are hurting. Taxes on those people who actually hire people are set to go up. The debt is higher than ever. As noted in a story on CNSNews.com, "In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan."

[Nadda]

Taxes on those people who actually hire people are set to go up.."

Obama is a socialist. He expects the rich to pay for everything while he creates more government programs to help the poor. He doesnt care weather or not it runs the economy into the ground. Nothing could stop ObamaCare not even when the majority of citizens opposed it. He has his agenda and nothing will stop it.

I qualify for so much free stuff its insane, and no one should owe me anything...Why should the rich pay for me? I didnt earn their money, they earned their money.

If obama really wants to help the poor he should try and get them jobs.

[Ecoman11]

There isn't much to debate on this topic because an economic collapse is inevitable by deflation or hyper-inflation. Yesterday at 4pm (after the markets closed) the government announced they will be bailing out three major credit unions for 50 billion. The benchmark has risen so high that 50 billion dollars sounds like peanuts! Get use to it cause there is many more to come.

If you still believe it's not possible then you'll be one of many left without a chair when the music stops.

Buy gold/silver and have plenty of food stored.

Ecoman

[carbideTip]

I think he deserves a lot of credit for saving the economy. The question now becomes how the heck he plans to get the country out of debt.

Please explain what economy "He" saved?

I want you to save me from my mortgage. Give me your paycheck so I can get the credit then my family can praise me.

[rickoff]

Recession Ending?

Record 40.8 Million People On Food Stamps
The ongoing economic recession and under-employment in the United States has resulted in a big increase in middle class people relying on food stamps. The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported.

Recession ending? I don't think so.

[UncleFester]

If you cant stop, just smile as you go under....

The thing about housing is the need for it in the US is a continually increasing thing.

(And what a time to be a homebuyer, huh? Low rates, low prices, tax credits, flexible loans)

How does one purchase a home with no money and no job?

Sure when the unstable bubbles of certain areas burst it caused problems, but that was inevitable and I dare say the situation is actually healthier now than when those bubbles were at their peaks.

Then why are foreclosure rates still rising?

Right now there is an $8,000 tax credit for first time home buyers. Related to that is the fact that right now not only has the number of home sales nationwide been on the rise for several months, but the prices of homes nationwide have been rising now for the past 2 months as well.

This is great, but it just means that people who still have money, typically the millionaires and people with very high paying and stable jobs are swallowing up the houses that are selling for less than fair market value (foreclosures).

These people though are also starting to run out of money, even my multi-millionaire friends are feeling the pain now, and some have lost everything (2 of 10 I know have had to sell their own homes after their businesses went bankrupt).

Besides the federal tax credit (there are state ones in addition in many cases) another thing that is helping people buy right now are loans that are structured differently than the traditional way but are also different than the ones that got people into so much trouble.

They are interest only loans for 10 years. That will surely give the home values time enough to increase a lot. At that point people can go back to what they were doing before, which is sell that house for a definite profit if they can't make the payments when they reach the interest + premium rate. (In the past people could do that in a short time in because housing prices were rising so quickly in so many areas.)

In addition, for those who have loans now who are threatened to go into foreclosure: Obama passed a law several months ago that says the banks have to work with people by restructuring loans for those who either A) can not keep up with their payments or B) have been able to keep up with their payments so far but are not able to refinance for current lower rates because of the recent economic conditions.

These loan "modifications" still require money (typically 2/3's of the previous mortgage) while most still do not even have enough money to keep up with car payments, let alone a mortgage. 3 people I know have had to move in with their parents after they lost their homes and their cars, and were on the street with no other options.

-Options to receive tax refunds in savings bonds. This will help make it easier for people to have savings and more stability.

How does a person take advantage of these programs with no savings, no bonds, and no money. Over 85 percent of the U.S. population has no money in a savings account.

How does a small business which is going out of business get a loan when there are no small business loans to be had? These businesses hire 90 percent of the workforce in America. And they are failing at higher rates each month.

I'm sorry. I had high hopes for this administration, and still do. But they are failing in a big way. The news releases you are seeing are released by the administration and the federal reserve etc to put at least a little "spin" on the situation. It's damage control. They know there will be a decade long recovery after all of this, and they don't want you to know it. They want you to think they will fix everything and it is all under control, but in reality they don't currently have any clue how to pull us out of this mess quickly.

It's great to think positive when there are positive things happening statistically speaking. Unfortunately that statistics don't follow what is really happening. I suppose we can try and think positive enough to get us out of the situation, but it would have to be a nation wide process, which is why some reports put a rosey picture on things, and that is fine, but it certainly does not have any basis in fact.

Tad

[noises]

There's an awful lot of fear, distress, paranoia and negative energy surrounding money. I'm not going to buy into it. People pay me what they think I'm worth, if they want to, and if they don't want to it doesn't matter because I'm only doing things I love doing anyway. The money isn't why I do what I do, it's a by product. Sure, I don't make billions. Not even millions. I'd have to put in some serious time just to scrape together $1,000 in a month. But you know what? I have a roof over my head, food in my belly and a smile on my face. The recession and all the stress that goes along with it can bite me. I've never even had a "job" where I have an employer, let alone been in a position to get a loan for anything, so I find I can watch global financial chaos from the wings with about as much personal interest as I had when things were going well. Frankly, not my problem. If you had a big pile of money and it's all gone now, if you had a nice house you were paying you bank for and they took it off you, if someone repossessed your mercedes, if your multi million dollar business failed, if you can't find a minimum wage job to put someone elses kids through private school and pay off their nice house and their mercedes, that's bad luck, but since it involves a system I was never welcomed to be a part of, I could care less, like most of the poor people in the world who had nothing to lose when the GFC hit.

It's so liberating having nothing when everyone else is stressing over losing everything. There's never been a better time to have always been "poor". Then again, I live in a paradise where people save for months to come on holidays for a week. My riches are measured in smiles, my value isn't preceded by a dollar sign.

[carbideTip]

Frankly, not my problem.

It will when a loaf of bread costs $100.00. You see its not only going to affect the snobby rich.