“Very serious recession.” Keep those words in mind.

[Entendance]

Can you say, ah, double-dip?

http://tinyurl.com/2w2g8cz



viewtopic.php?f=8&t=765&p=11833#p11833

[Entendance]

NO MEANINGFUL IMPROVEMENT IN THE LABOUR FRONT, MR.PRESIDENT
Revision to 500K + next week, I assume...


Here Comes the Rain Again
http://tinyurl.com/33kqusc




How do we distinguish PROPAGANDA viewtopic.php?f=17&t=735&p=11797#p11797

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[dlry]

U. S. Stock Market
The Fed And The Administration Should Be Panicking

From: Frank Veneroso
August 12, 2010

Executive Summary

1. In the moral hazard dance between the Fed and the markets the Fed on Tuesday made a move it thought its partner would pick up on.

2. That has not happened.

3. Worse yet the economic data at home (still higher IUCs, huge June trade deterioration, a likely downward revision to Q2 GDP growth to almost 1%) remains relentlessly disappointing.

4. In my estimation the Fed is far more panicked than it lets on.

5. In what follows I cite a CNBC interview with former Fed governor Larry Meyer as a sign the Fed now fears a vortex of Fisherian debt deflation.

6. The administration and above all Larry Summers surely now fears the same.

7. Worse the administration may now go into the mid-term elections with the opposition able to point to a 1% GDP growth number for Q2 as proof of the failure of Obama’s economic policies.

8. Out of panic brought about by the surprising and relentless stream of economic disappointments and the prospects of ebbing confidence in the Bernanke put by market participants we should see unexpected efforts to shore up market confidence by both the Treasury and Fed.

9. I have taken the cynical view that 1) the Fed and the administration will move heaven and earth to keep risk asset markets aloft and 2) most of the hopeful moral hazard bitten market participants will play along even though there is a real risk of a double dip.

10. Since the FOMC meeting on Tuesday I look wrong. I continue to believe the stakes appear so high to the Fed and the administration that there will be ways in which they will continue to move heaven and earth, and in an impressive way and over the near term.

-END-


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[Entendance]

Oh, There Are Still Bodies to Cut Loose

...keep in mind that the services sector employs the majority of people in this country. I’m not saying we’re going back to a point where we’re losing a half million jobs a month. I’m just saying this idea that companies can’t find any more bodies to let go is plain wrong. They can and will depending upon what the economy tells them to do.
http://tinyurl.com/2dk7pwn

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[defio70]

NO WAY OUT

http://tinyurl.com/2e3hqog

viewtopic.php?f=17&t=506&p=11924#p11924

[Entendance]

THEY keep on pretending and extending even after data went out, but I tell you...THERE WILL BLOOD






ECONOMIC AMNESIA BY BANKSTER'S PROPAGANDA: REWARDS for FAILURE
viewtopic.php?f=7&t=643&p=11918#p11918




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[dlry]

The administration has a new economic policy mission statement...failure to comply is violation of the law: http://tinyurl.com/2fm83so


Fidelity: 401(k) hardship withdrawals, loans up
Fidelity: Struggling workers increasingly tapping 401(k) accounts for needed cash

In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: A record number of workers made hardship withdrawals from their retirement accounts in the second quarter.

What's more, the number of workers borrowing from their accounts reached a 10-year high, according to a report issued Friday by Fidelity Investments.

The trends reflect the financial stress many workers find themselves in as the economy struggles to find sure footing, said Beth McHugh, Fidelity's vice president of marketing insight.

http://tinyurl.com/2eea8z4


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[sowhat]

Analysts at 2.5%-3.5% while Rosenberg is at -1.5%.
http://tinyurl.com/326f56y



Texas July Home Sales Collapse - Lowest Total Since 1997 http://tinyurl.com/2wekejy

[Entendance]

The problem here is that apparently there are no solutions in sight, neither easy nor good.


...The quarterly data show that Q2 stands at a +1.1% annual rate (so look for a steep downward revision for last quarter) and the “build in” for Q3 is -1.5% at an annual rate. Depending on the data flow through the July-September period, it looks like we could see a -0.5% to -1% annualized pace for the current quarter. Most economists have cut their forecasts but are still in a +2.5% to +3.5% range. What is truly amazing is that despite all the fiscal, monetary, and bailout stimulus, the level of real economy activity, as per the M.A. monthly data, is still 2.5% below the prior peak. To put this fact into context, the entire peak to trough contraction in the 2001 recession was 1.3%! That is incredible...
http://tinyurl.com/35fn8vh

Bernanke Must Raise Benchmark Rate 2 Points, Rajan Says
http://tinyurl.com/2vmnbyc


ONE SIZE FITS ALL viewtopic.php?f=17&t=733&start=180#p11766



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[defio70]

Latest data suggest we are already in double-dip recession

Blowing in the wind
http://tinyurl.com/335xxrx