AMERICAblog: Federal Reserve worried about 'prolonged and severe' recession
Dave of the Jungle
· 1 year ago
Prepare for the Landslide Punitive Election of 2008.
KerrynowCampau
· 1 year ago
I hope so Dave. Maybe losing everything will be just the motivation some need to get off their asses and VOTE!!
grandma
· 1 year ago
Bush’s Economic Plan: Give Stimulus Checks ‘A Chance To Kick In’»
Like Bush, Sen. John McCain (R-AZ) also wants to wait out the financial crisis. From his appearance on ABC’s This Week on Feb. 17:
STEPHANOPOULOS: But you’re open to helping homeowners?
McCAIN: I am open to helping homeowners. I would rely to a large degree on the situation of time. But also to people like secretary of the treasury Paulson who the financial markets and a lot us have a great deal of faith in. If more needs to be done, I’m for doing more.
The American public isn’t as optimistic as Bush and McCain. According to a recent Zogby poll, just 28 percent “believe the government’s economic stimulus rebate plan will help.”
The FED is worried?? I suppose they could give away billions more of taxpayers dollars to the financial institutes, cut the interest rate another 1/4 to the financial institutes who borrow money from them.
Then of course the government could continue to hand out more welfare to corporations, cut corporate taxes, cut capital gains taxes, kill the "death" tax and continue the tax cuts for the wealthy.
This should fix everything shouldn't it?? Oh wait none of this helps the average Joe struggling to keep a roof over his familes head, pay for groceries, gas, health insurance, prescription drugs, etc, etc, etc,
Oh wait, silly me! I forgot the stimulis checks are on their way at the end of May. WOOO HOOO HAPPY DAYS ARE HERE AGAIN! *SNARK*
Tom3
· 1 year ago
If they're willing to admit we are headed into a severe recession, I fear that we are headed into a full-blown depression. I am starting to stock up on canned food, bottled water and other necessities. And I am seriously thinking about cashing in my retirement money.
Morpheus
· 1 year ago
Brother can you spare a dime....bag?
Tom3
· 1 year ago
Democrats need to be making a point of this every damned day, ten times a day.
Unfortunately, they are too busy fighting each other to fight the Repukes.
This is weakening the party and I blame Hillary.
HereinDC
· 1 year ago
A friend of mine bought a SUV 3 years ago. He has 2 more years of payments. He doesn't use it for work since he takes the bus/metro for work. He's decided to take it back to the dealer and sell it for what it's worth...he'll break even. $500 a month with insurance is not worth the headache of what is coming down the road with the economy.... Just in the last few months...he sat down and looked at his expenses and realized that in the last year he's not able to keep up with inflation.
( Here is a guy who makes an ok living...and even he knows that things are not getting better for him) .
Tom3
· 1 year ago
"He's decided to take it back to the dealer and sell it for what it's worth...he'll break even." LOL!! That's a good one.
He will take it in the shorts when he brings it back to the dealer.
Serves him right for buying a SUV gas hog in the first place.
HereinDC
· 1 year ago
Yes, he'll break even. Low mileage/garaged & relative is the car dealer.
Tom3
· 1 year ago
Relative is the car dealer...that is the ONLY way he will break even.
My boss had a SUV he was trading in and he says the dealers don't even want them anymore, especially the big ones.
Tom3
· 1 year ago
Cars, especially big SUVs are never an investment. The minute you sign the loan, you are upside down. The depreciation is outrageous and you never "break even"
I look at cars as a necessary tool and something you have to pay for. Pay and pay and pay. You would be extremely lucky to break even on a car these days, especially after a couple years.
Joshau Norton
· 1 year ago
Yes, but that life-saver "stimulus" package is due pretty soon. I'm going to use mine to pay off all my bills, buy a new house and maybe another car. What ever is left over I plan to invest in the stock market.
Problem solved. Thanks George!
/snark
Tom3
· 1 year ago
I'm going to use that Chimpy Check to buy more canned food, bottled water and shotgun shells. I have a feeling I will need all three before this is over.
nicho
· 1 year ago
Bernanke got worried when he learned his house in DC has lost over 20% of its value.
a few months ago, us Ron Paulbots kept talking about Dr Pauls fight against the Federal Reserve, and we were called looneys and Dr Paul is a "nut".
still think that now?
MarxMarvelous
· 1 year ago
How's that Central Economic Planning working out? The real scary part is that under Obama, Hill, or McCain, they won't change a thing. The Fed is not an institution that puts American interest first. They are waging economic war on the American currency. Only one will bring the change we need. He Who Must Not Be Named. I wish some people would wake up and see that the Dems offer absolutely no solutions to this crisis. As for the stimulus, I'm buying a gun, ammo, and silver coins. I sincerely believe riots are on the way if Obama doesn't get the nomination. Hope everybody is watching and enjoying John Adams on HBO. Giamatti is excellent!
Wisconsin Liberal
· 1 year ago
This all the result of REAGANOMICS !!!!!!!! That warm feeling you get is the pee on you of the trickle down!!!
wfeather
· 1 year ago
"How's that Central Economic Planning working out? The real scary part is that under Obama, Hill, or McCain, they won't change a thing."
Wrong! McCain will try to steal your Social Security and implement a 23% 'flat' consumer tax. I'm actually quite impressed with Obama - see this
nicho
· 1 year ago
rhufnek 28 minutes ago
a few months ago, us Ron Paulbots kept talking about Dr Pauls fight against the Federal Reserve, and we were called looneys and Dr Paul is a "nut".
still think that now?
Sure do.
No one ever said Ru Paul didn't understand some of the problems. It was his solutions that were wackier than shit.
He was like the doctor who correctly diagnoses your appendicitis, but wants to cure it by sacrificing a chicken.
MarxMarvelous
· 1 year ago
"He was like the doctor who correctly diagnoses your appendicitis, but wants to cure it by sacrificing a chicken."
Parrot other people's comments much? His solutions are sound but don't cater to special interests, ie, , the MI complex, the Big Pharma, the gay agenda, the socialized medicine fools, "gun-control" commies, I could go on and on with the un-American programs that the Dems support. The Dem want to take from the "have-some"'s and give to the "have-nots" and let the "have's" and "have-more"'s just continue to rape the middle class. Tax me on Global Poverty Obama? Go back to mentoring under your commie tutor Frank in Hawaii. Garnish my wages for abortions Hillary? How many lies this week? I wonder is people will ever realize that their "choices" aren't really "theirs" and stop dividing the country along party lines. So much educating to do, so little time...
He Who Must Not Be Named has solutions that would cure, not treat, the fiscal disease that America is suffering from. People who support the "Dem" candidates seem to me to be like women/men who are compulsive shoppers, and just can't stop using their credit cards until there's nothing left, then they declare bankruptcy and blame 'the system"
MN USA
· 1 year ago
Bush's tax policies and lack of oversight by the Repubs brought us this far. Where does McCain plan to go? A "depression" rather than a "recession?"
Chris From Maine
· 1 year ago
recession? try depression.
most people wont realize it until food prices skyrocket and u are paying 5+ a gallon though, and by then it will be too late.
Reason0Politics1
· 1 year ago
LMAO
Expecting the party leaders to call out the repubs on the economy? umm..they are brothers and sisters of the repubs folks. The Dems serve the very same masters, the very same, with equal exuberation.
Ron Paul has some of the answers, but offers almost as many problems.
Nothing but bloodshed and revolution will save us now. laugh all ya want. shock! omg! we are at that place folks, whether we admit it, or like it, or not. when the cities start to see mass hunger, there will be violence, and it will spread.
there is less than 3 days of food in any distribution network. it will not take long, once the threshold is passed. sorry, but ron paul, Obama, or hillary can't do jack to stop the unwinding tides, the collapse of this house of cards. it has begun, and no amount of funny money can stop it. none.
Dianne_in_DC
· 1 year ago
I just did my taxes, and for the first time in 20 years I have to pay the Fed. With my DC return and the incentive, its about a wash. I lost my job in February, and have highly marketable skills. But I am being told no hiring until "the summer" . I am seriously thinking of going to work at Cosi, Borders, or Starbucks.
jr
· 1 year ago
these Reaganomicists have no clue what to do when their Randian tax cuts for the wealthy ideas flop
paulbe
· 1 year ago
The destruction of the American economy seems so wanton, and so complete, that its hard to not think that it was planned that way. The Dems indeed serve the same Masters. They have said very little on the causes of this economic disaster, but have done a lot of insincere "I feel your pain" kind of babbling. You do not have a democracy in the US, you have a "managed choice". Last Australian election, and events over the five or so years before it proved to me that this is not a uniquely American phenomenon anymore either. Our Governments all over are slowly being taken from us by shadowy actors behind the curtains.
gonzalez
· 1 year ago
Chris, haven't you figured it out yet. The republicans are still corrupt and the Democrats left the balls some place years ago. This bunch of democrats we currently have do not have the courage to do anything to the republicans, this is why the republicans get away with whatever they want. Just look at Iraq!
benb
· 1 year ago
Don't give it the prestige of calling it an 'experment.' Call it what it is when someone repeats the same problem-causing behavior and expects a different outcome---insanity.
rhufnek
· 1 year ago
"He was like the doctor who correctly diagnoses your appendicitis, but wants to cure it by sacrificing a chicken."
If that describes Dr Paul, then Clinton, Obama and McCain are the doctors that diagnose your appendicitis as a belly-ache and 'cure' it by giving your chicken to someone more needy and making you pay for it.
Allowing the privately owned for-profit tax exempt Feds to control your money supply, there is no cure except to end the Feds control. Anything less is just for show. The Founding Fathers realized this and it took until 1913 for the US to fall.
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence
Ronald Rutherford
· 1 year ago
No, you don't say??? Maybe some one can explain what a rubbish economy is and how to measure it? Along with that what vote by Republicans caused this recession?
All Comments
Like Bush, Sen. John McCain (R-AZ) also wants to wait out the financial crisis. From his appearance on ABC’s This Week on Feb. 17:
STEPHANOPOULOS: But you’re open to helping homeowners?
McCAIN: I am open to helping homeowners. I would rely to a large degree on the situation of time. But also to people like secretary of the treasury Paulson who the financial markets and a lot us have a great deal of faith in. If more needs to be done, I’m for doing more.
The American public isn’t as optimistic as Bush and McCain. According to a recent Zogby poll, just 28 percent “believe the government’s economic stimulus rebate plan will help.”
http://thinkprogress.org/2008/04/08/bush-stimul...
Then of course the government could continue to hand out more welfare to corporations, cut corporate taxes, cut capital gains taxes, kill the "death" tax and continue the tax cuts for the wealthy.
This should fix everything shouldn't it?? Oh wait none of this helps the average Joe struggling to keep a roof over his familes head, pay for groceries, gas, health insurance, prescription drugs, etc, etc, etc,
Oh wait, silly me! I forgot the stimulis checks are on their way at the end of May. WOOO HOOO HAPPY DAYS ARE HERE AGAIN! *SNARK*
Unfortunately, they are too busy fighting each other to fight the Repukes.
This is weakening the party and I blame Hillary.
He has 2 more years of payments.
He doesn't use it for work since he takes the bus/metro for work.
He's decided to take it back to the dealer and sell it for what it's worth...he'll break even.
$500 a month with insurance is not worth the headache of what is coming down the road with the economy....
Just in the last few months...he sat down and looked at his expenses and realized that in the last year he's not able to keep up with inflation.
( Here is a guy who makes an ok living...and even he knows that things are not getting better for him)
.
He will take it in the shorts when he brings it back to the dealer.
Serves him right for buying a SUV gas hog in the first place.
My boss had a SUV he was trading in and he says the dealers don't even want them anymore, especially the big ones.
I look at cars as a necessary tool and something you have to pay for. Pay and pay and pay. You would be extremely lucky to break even on a car these days, especially after a couple years.
Problem solved. Thanks George!
/snark
http://www.bloomberg.com/apps/news?pid=20601087...
still think that now?
I wish some people would wake up and see that the Dems offer absolutely no solutions to this crisis.
As for the stimulus, I'm buying a gun, ammo, and silver coins. I sincerely believe riots are on the way if Obama doesn't get the nomination.
Hope everybody is watching and enjoying John Adams on HBO. Giamatti is excellent!
Wrong! McCain will try to steal your Social Security and implement a 23% 'flat' consumer tax. I'm actually quite impressed with Obama - see this
a few months ago, us Ron Paulbots kept talking about Dr Pauls fight against the Federal Reserve, and we were called looneys and Dr Paul is a "nut".
still think that now?
Sure do.
No one ever said Ru Paul didn't understand some of the problems. It was his solutions that were wackier than shit.
He was like the doctor who correctly diagnoses your appendicitis, but wants to cure it by sacrificing a chicken.
Parrot other people's comments much? His solutions are sound but don't cater to special interests, ie, , the MI complex, the Big Pharma, the gay agenda, the socialized medicine fools, "gun-control" commies, I could go on and on with the un-American programs that the Dems support.
The Dem want to take from the "have-some"'s and give to the "have-nots" and let the "have's" and "have-more"'s just continue to rape the middle class. Tax me on Global Poverty Obama? Go back to mentoring under your commie tutor Frank in Hawaii. Garnish my wages for abortions Hillary? How many lies this week?
I wonder is people will ever realize that their "choices" aren't really "theirs" and stop dividing the country along party lines.
So much educating to do, so little time...
He Who Must Not Be Named has solutions that would cure, not treat, the fiscal disease that America is suffering from. People who support the "Dem" candidates seem to me to be like women/men who are compulsive shoppers, and just can't stop using their credit cards until there's nothing left, then they declare bankruptcy and blame 'the system"
most people wont realize it until food prices skyrocket and u are paying 5+ a gallon though, and by then it will be too late.
Expecting the party leaders to call out the repubs on the economy? umm..they are brothers and sisters of the repubs folks. The Dems serve the very same masters, the very same, with equal exuberation.
Ron Paul has some of the answers, but offers almost as many problems.
Nothing but bloodshed and revolution will save us now. laugh all ya want. shock! omg! we are at that place folks, whether we admit it, or like it, or not. when the cities start to see mass hunger, there will be violence, and it will spread.
there is less than 3 days of food in any distribution network. it will not take long, once the threshold is passed. sorry, but ron paul, Obama, or hillary can't do jack to stop the unwinding tides, the collapse of this house of cards. it has begun, and no amount of funny money can stop it. none.
If that describes Dr Paul, then Clinton, Obama and McCain are the doctors that diagnose your appendicitis as a belly-ache and 'cure' it by giving your chicken to someone more needy and making you pay for it.
Allowing the privately owned for-profit tax exempt Feds to control your money supply, there is no cure except to end the Feds control. Anything less is just for show. The Founding Fathers realized this and it took until 1913 for the US to fall.
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence
Maybe some one can explain what a rubbish economy is and how to measure it? Along with that what vote by Republicans caused this recession?