Never-Ending Recession:Have Americans lost all hope for the future?

Discussion in 'Economics' started by Grandluxe, Nov 15, 2011.

  1. Humpy

    Humpy

    My tax return

    List all dependents?”
    How about -
    “12 million illegal immigrants;
    “3 million crack heads;
    “42 million unemployable people on food stamps,
    “2 million people in over 243 prisons;
    and
    “535 fools in the U.S. House and Senate.?
    Apparently, this was NOT an acceptable answer.


    The above started in the joke section but many a true word is spoken in jest.
     
    #21     Nov 19, 2011
  2. BSAM

    BSAM

    Perhaps some other country will come in one day and liberate us from the evil thugs in D.C.
    How else we going to rid ourselves of them, since they refuse to amend our constitution and put in a balanced budget amendment and a term limits amendment?
    Oh, you think voting works in this country? LOL
     
    #22     Nov 19, 2011
  3. was the genie avoidable?
     
    #23     Nov 19, 2011
  4. bettles

    bettles

    Depends on the type of drug. Heroin, meth, coke, they are likely to die off, possibly in large enough numbers to significantly decrease public assistance costs. On the other hand, if large numbers of people started using some of the classic "psychedelic" drugs of the 60's (LSD, mescaline, psilocybin, DMT) today, it could lead to "the masses" re-evaluating their materialistic attitudes. That could well be very bad for the current economy, which relies on ever-increasing consumption.

    Bettles
     
    #25     Nov 26, 2011
  5. Not that most here are old enough to remember, but this is sounding a lot like the late 1970s.

    The "solution" chosen by voters then was to buy into Reagan's don't-tax-but-keep-spending deficit plan and declare it "Morning in America".
     
    #26     Nov 26, 2011
  6. Instead of the towering 70 percent level of the United States, consumption was only 38 percent of the Chinese economy. Conversely, net exports, which produced a negative 3 percent drag on the U.S. economy, actually added 3.6 percent to the Chinese total. China’s growth was heavily driven by investment, which totaled 48 percent of GDP versus only 12 percent for the United States.

    Rickards, James (2011-11-10). Currency Wars: The Making of the Next Global Crisis (Kindle Locations 2100-2103). Penguin Group. Kindle Edition.
     
    #27     Nov 26, 2011
  7. retail sales up 1.1% for SEP vs .3% previous month
    auto sales up 3.6% most since MAR 2010

    year over year retail up 8%

    restaurant sales up most since AUG 2007
    industrial production up .2% for SEP
    factory output up .4% SEP vs .3% previous
    motor vehicles and parts up .7%
    business equipment up 1%
    computer equipment up 1.9%
    mining, oil and drilling up .8%
     
    #28     Nov 26, 2011
  8. if you're into contrary indicators, bearish sentiment on this thread if not most of ET is pretty high.
     
    #29     Nov 26, 2011
  9. maxpi

    maxpi

    Lost all hope? Yes and No...

    Wealthier Americans are in an expansion [their portfolios have recovered, their businesses might be a little healthier, real estate is cheap and falling and theirs is paid for, they can expand their RE holdings further if they get in an expansive enough of a mood to buy, prices are depressed all around them, so for them, yeah, cash is king and they are hopeful for the future.

    Poorer Americans are not part of the economic recovery yet. They won't be until Real Estate heats up and then many of them will have jobs.. but it's yet another jobless recovery, every recovery since 1970 has been "jobless" at least to the extent that all the lost jobs were not recovered due to increases in efficiency from computerization and outsourcing of work... it's still a big question in my thinking as to whether we can go the entire business cycle this time without the working class getting to participate...
     
    #30     Nov 26, 2011