U.S. recession to be longer than usual, according to University of Michigan consumer sentiment survey - Reuters The U.S. economy has entered a recession that will be more painful and drawn out than the usual downturn, the director of the Reuters/University of Michigan consumer sentiment survey said on Friday. Inflation pressures will linger despite the retrenchment in consumer spending, complicating the task of policy-makers, the University's Richard Curtin said in a report, citing data from industry group The Conference Board. "This is no ordinary recession," he said. "The aftereffects will last much longer than the typical downturn." this just hit the wires.
I watch alot of CNBC. You cant even get a staright answer on whwther we are even definitely in a recession from the 20 or so "financial experts" debating on there everyday. Housing is screwed up and the markets taken a bit of a hit recently, thats obvious. Whats not so obvious is whether that really implies we are in a recession.
Whether or not "we're in recession" is mostly a semantic distinction. The economy is tied to "marginal spending by the consumer", and marginal consumer spending is closely tied to real estate and the jobs market. (Not just the "number of jobs", but the quality and level of pay.... you know, they good jobs we're giving away to China in exchange for the promise of continuing to buy cheap shit from Wal-Mart) The potential for a long and strong economic contraction is palpable.
one will never recieve a straight answer especially from the media..........they want you behind the curve at all times.....think for yourself as the only way the gov`t/media may admit to a recession is when we are entering a depression.......always keeping the sheeple behind the curve & uninformed....that is their goal.
CNBS is "the media arm of The Powers"... they are going to exaggerate, obfuscate, even LIE at every opportunity. Their goals are (1) support advertising revenue, (2) influence the sheeple to "don't worry, be happy".
If you had to play devil's advocate what arguements can you make for there not being a long and protracted economic contraction?
Listen I take CNBC for what it is... entertainment. I definitely dont trade off what I hear on CNBC, but theres some usefull discussion on there. Yeah, I can think for myself, but do me a favor and save the consipracy theories for Oliver Stone.
Only one, and it's VERY thin. In fact, it's the same one we've had for the last 25 years. And that is, "money-pump inflation + lies from The Powers about our true economic and financial condition". Even then, it's not a remedy, but rather a postponement. The longer we go and the more "energy" is spent by the Fed to try to prevent the contraction, the worse it will be.
I don't think the fact that the corporate media disseminates propoganda to the masses to suit the agenda of the wealthy getting more from the middle-lower classes is really a conspiracy, more like a common sense conclusion based on fundamental principles of human social structures. People operate out of the assumption that claiming that the government, the media, the markets, the legal system, the political system, etc are rigged and pervasively criminally manipulated requires proof. Without proof, we should assume all is well. It's actually the other way around - we should assume the above mentioned entities are completely corrupt, with the burden of proof being on them to prove that they are clean. The fact that most people don't think this way and are so naive shows how effectively the masses have been brainwashed. I'm not a conspiracy theorist, just a pragmatic independent thinker.