We have avoided Armageddon, at least for now. The cost to the US taxpayer has been a few trillion. Some in the media are loudly announcing the end of the recession. But we are not out of the woods yet. There are a few more bumps in the road. Actually, some of them are quite steep hills. As big as the subprime problem? Maybe.
When asked a few weeks ago what was my biggest short-term concern, I quickly replied, "European banks have the potential to create significant risk for the entire worldwide system." This week we will glance "over the pond" to see what gives me cause for concern. Then we briefly look at a few of the bumps I mentioned, which are likely to stretch out any recovery, and maybe even dip us back into recession.
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bring it on
ReplyDeleteAuthor of that Article says: We have avoided Armageddon, at least for now. The cost to the US taxpayer has been a few trillion. Some in the media are loudly announcing the end of the recession. But we are not out of the woods yet. There are a few more bumps in the road. Actually, some of them are quite steep hills. As big as the subprime problem? Maybe.
ReplyDeleteWhen asked a few weeks ago what was my biggest short-term concern, I quickly replied, "European banks have the potential to create significant risk for the entire worldwide system." This week we will glance "over the pond" to see what gives me cause for concern. Then we briefly look at a few of the bumps I mentioned, which are likely to stretch out any recovery, and maybe even dip us back into recession.
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I SAY, this guy is yet another DIPSHIT ECONOMIST who thinks were going "back into a recession" wow! I pity the fools(parents) who waste tens of thousands of dollars to get their spoiled brats(future liberal morons) brainwashed in Universities across the globe,(not just America)nuff said! Actually, the more I see the impending doom, the more I realize what a GOOD THING it will be for all the idiotic masses to come back down to reality. BRING IT ON YES! Anonymous #1...
"WE HAVE AVOIDED ARMAGEDDON"...Even this most pessimist blog is changing its Tone..... Don't wate your time here, recovery is on the way Obama saved us
ReplyDeleteI hope that is a joke LOL. Funny if so. The Goldman Sach's puppet saved us? Not likely.
ReplyDeleteIn order for there to be an economic recovery there has to be an engine to drive it. I don't see an engine; Anon #2, what engine has Barry Hussein Obama provided to drive an economic recovery?
ReplyDeleteAn engine? Like a manufacturing base?
ReplyDeleteRemember Fred Flintstones car?
Barry Soeto, Singer of showtunes.
Born in the 51st state, KENYA.
:)
back into recession
ReplyDelete?????????????
firstly its not a recession its a depression ansdsecondly when did we come out of it?
only people who listen to that dipshit kneale on cnbc could think we are out of it
Yep. Europe is in far worse trouble than commonly publicised.
ReplyDeleteThe just announced the Bank of England has just allocated 50 BILLION to *try* and prevent the inevitable tip into depression..
The true rate of unemployment in the USA isn't 9.5%, but closer to 18% - ie that of the 1930's great depression.
Foreign investment and interest in the USA, most notably from China, has all but stopped.
Combine that with Peak Oil, global warming, a lack of viable alternative energies capable of global deployment (before the energy crunch comes), increasing global weather instability and more, the ride ahead is going to be worse than you can imagine.
You'd better have a nice remote property somewhere where you can be self sufficient until you die or God help you in the next few years.
Have fun.