Here comes the other economic shoe dropping...

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Warren Dew
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Re: Here comes the other economic shoe dropping...

Post by Warren Dew » Thu Jul 07, 2011 9:24 pm

Looks like Obama may finally have figured out that entitlements need cutting:

http://www.salon.com/news/budget_showdo ... l_security
http://www.washingtonpost.com/business/ ... story.html
http://online.wsj.com/article/SB1000142 ... _US_News_3

Whether he'll agree to workable details is another issue.

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Re: Here comes the other economic shoe dropping...

Post by Coito ergo sum » Fri Jul 08, 2011 1:59 pm

Jobs Picture Gets Even Worse as Rate Swells to 9.2%
http://www.cnbc.com/id/43682730

On the way up again.


Dow reacts: http://www.cnbc.com/id/43683574 100 points down in first minute.

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Re: Here comes the other economic shoe dropping...

Post by Nicko » Sun Jul 10, 2011 3:09 am

Coito ergo sum wrote:
The number of Americans filing claims for unemployment benefits barely fell last week, a government report showed on Thursday, suggesting the labor market was struggling to regain momentum.
http://www.cnbc.com/id/43590162

The economy sucks, and what has been done about it hasn't worked.
I certainly agree with that statement, although I suspect we would vehemently disagree as to both the causes and the solutions.

http://www.guardian.co.uk/commentisfree ... al-economy

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Re: Here comes the other economic shoe dropping...

Post by Atheist-Lite » Sun Jul 10, 2011 3:34 am

The US needs to cull military expenditure and invest in commercial industry, internal infrastructure. Space is gonna be big so why cut the space prog when you can bring Rommel and the desert rats home to keep the thing flying? :demon:
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Re: Here comes the other economic shoe dropping...

Post by Coito ergo sum » Wed Jul 13, 2011 7:57 pm

(Reuters) - Americans are deeply pessimistic about the future as economic concerns rise and White House talks on raising the U.S. debt limit sputter, according to a Reuters/Ipsos poll released on Wednesday.
http://www.reuters.com/article/2011/07/ ... ZO20110713

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Re: Here comes the other economic shoe dropping...

Post by Coito ergo sum » Wed Jul 13, 2011 11:25 pm

Moody’s Places U.S. on Review for Downgrade As Debt Talks Stall
http://www.bloomberg.com/news/2011-07-1 ... stall.html

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Re: Here comes the other economic shoe dropping...

Post by Coito ergo sum » Wed Jul 13, 2011 11:26 pm

In a meeting with a small group of reporters in his Capitol Hill office this morning, House Speaker John Boehner, R-Ohio, criticized President Obama and White House officials for their lack of resolve in negotiations.

“Dealing with them the last couple months has been like dealing with Jell-o,” Boehner said. “Some days it’s firmer than others. Sometimes it’s like they’ve left it out over night.”

Boehner explained that talks broke down over the weekend because, he said, the president backed off entitlement reforms so much from Friday to Saturday, “It was Jell-o; it was damn near liquid.”

“By Saturday, they’d spent the previous day and a half just going backwards” on reforming entitlement programs such as Social Security, Medicare and Medicaid.

“The only thing they’ve been firm on is these damn tax increases,” the Speaker said.
http://blogs.abcnews.com/thenote/2011/0 ... ell-o.html

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Re: Here comes the other economic shoe dropping...

Post by Coito ergo sum » Fri Jul 29, 2011 9:16 pm

Major end of week stock market sell off - plunge: http://www.cnbc.com/id/43942652

US Dollar hits record low against Swiss Franc - http://www.reuters.com/article/2011/07/ ... 2L20110729

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Re: Here comes the other economic shoe dropping...

Post by Atheist-Lite » Sat Jul 30, 2011 5:07 am

Coito ergo sum wrote:Major end of week stock market sell off - plunge: http://www.cnbc.com/id/43942652

US Dollar hits record low against Swiss Franc - http://www.reuters.com/article/2011/07/ ... 2L20110729
There'll be blood on the streets now. This ship an'int gonna turn around by tuesday morning when the iceberg hits. :smoke:
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Re: Here comes the other economic shoe dropping...

Post by Coito ergo sum » Wed Aug 03, 2011 7:34 pm

Wasserman Schultz: "We've Really Begun To Turn The Economy Around"
http://realclearpolitics.com/video/2011 ... round.html
:spray:

Europe is a "train wreck" and on the "brink of a major financial crisis," Scott Minerd, CIO of the fixed-income firm Guggenheim Partners, told CNBC Tuesday
http://www.cnbc.com/id/43988195

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Re: Here comes the other economic shoe dropping...

Post by Atheist-Lite » Wed Aug 03, 2011 7:55 pm

Coito ergo sum wrote:
Wasserman Schultz: "We've Really Begun To Turn The Economy Around"
http://realclearpolitics.com/video/2011 ... round.html
:spray:

Europe is a "train wreck" and on the "brink of a major financial crisis," Scott Minerd, CIO of the fixed-income firm Guggenheim Partners, told CNBC Tuesday
http://www.cnbc.com/id/43988195
:smoke:
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Re: Here comes the other economic shoe dropping...

Post by Atheist-Lite » Wed Aug 03, 2011 7:59 pm

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Re: Here comes the other economic shoe dropping...

Post by Coito ergo sum » Wed Aug 03, 2011 9:36 pm

Going down the shitter.
WASHINGTON (AP) -- Shoppers won't shop. Companies won't hire. The government won't spend on economic stimulus - it's cutting instead. And the Federal Reserve is reluctant to do anything more.

Without much to invigorate growth, the economy may be in danger of slipping into a stupor like the one Japan has failed to shake off for more than a decade. And Wall Street is spooked.

The Dow Jones industrial average Wednesday barely broke an eight-day losing streak, finishing up about 30 points. A nine-day losing streak would have been the Dow's first since February 1978.
http://hosted.ap.org/dynamic/stories/U/ ... 3-17-35-16

Scary Chart Pattern Suggests More Selling on the Way
http://www.cnbc.com/id/44005971

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Re: Here comes the other economic shoe dropping...

Post by Coito ergo sum » Thu Aug 04, 2011 5:24 pm

Jobless claims last week weren't under 400,000 for first time in 16 weeks...

Revised to 401K...
Unemployment benefit applications have been at or above 400,000 for 17 weeks. They fell in February to 375,000, a level that signals healthy job growth. They stayed below 400,000 for two months. But applications then surged to an eight-month high of 478,000 in April and have declined slowly since then.
Now, 17 weeks in a row...http://sg.news.yahoo.com/unemployment-a ... 57430.html



DOW PLUMMETS http://www.cnbc.com/id/44017828
The Dow Jones Industrial Average plunged over 2 percent, led by Caterpillar [CAT 91.87 -4.41 (-4.58%) ] and Alcoa [AA 13.53 -0.73 (-5.12%) ], after rebounding from a deep selloff in the previous session to snap an eight-day losing streak. The blue-chip index is down for the 9th day in 10.

The S&P 500 and the tech-heavy Nasdaq also tumbled. The S&P entered its "correction territory," defined by a drop of 10 percent from its peak from its intraday high in May. Both the S&P and Nasdaq are currently trading in negative territory for the year.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, surged almost 15 percent to trade above 26.

All 10 S&P sectors were trading lower, led by energy, materials and industrials.
BORROWING TOPS 100% OF GDP... http://news.yahoo.com/us-aaa-rating-sti ... 40123.html

U.S. debt shoots up $239 billion -- in one day! http://www.washingtontimes.com/news/201 ... t-one-day/


Obama, Bernanke out of ammo to boost jobs, growth... http://www.reuters.com/article/2011/08/ ... O920110803


OBAMA: 'we have made some incredible strides together.' --- 'I didn't say change we can believe in tomorrow'... http://www.realclearpolitics.com/video/ ... e_yet.html :spray: :funny: :roflol:

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Re: Here comes the other economic shoe dropping...

Post by Ian » Thu Aug 04, 2011 5:44 pm

Macro question: is there a specific bubble bursting? The housing bubble seems pretty much re-adjusted; looking at the 10+ yr trends, overall housing prices can't go TOO much lower than they are now. And I'm not aware of any other glaringly inflated sectors. So, if there isn't one bursting to drive everything else down with it, are we really talking about going into a double-dip, or are we just dealing with a temporary stall?
:ask:

A point of fact, since CES is so keen to dump everything on Obama's doorstep: On election night, Obama said (after listing the wealth of difficulties the US was facing) "I cannot promise you that all these things will be solved in one year, or in one term."

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