Should I, after tea and cakes and ices, Have the strength to force the moment to its crisis? But though I have wept and fasted, wept and prayed, Though I have seen my head [grown slightly bald] brought in upon a platter, I am no prophet—and here’s no great matter; I have seen the moment of my greatness flicker, And I have seen the eternal Footman hold my coat, and snicker, And in short, I was afraid.
--T.S. Eliot
Õ¿Õ
· 1 year ago
There's going to be alot of elderly people freezing to death this winter in the northeast. Buy electric space heaters now. But I'm afraid that the electrical grid wont be able to take it as many try to switch over from home heating oil to electricity. May be black outs.
Õ¿Õ
· 1 year ago
And it's bush's fault. But mostly, it's the wingnut's fault. And soon they'll be coming for you...
naschkatzehussein
· 1 year ago
Once in a while you can get something good off of Drudge. He has a post with inflation in the title, but it is really Barclay's Bank in England predicting a profound three year recession and advising investors not to invest in the stock market here. The article says that out of control inflation has already hit Asia big time and that Bernanke will have to raise the interests about six times in the near future. That is good news for very conservative retired investors like us because we have been receiving returns under 2% for a long time now, but that will be offset by inflation and gas and food shortages. We are in for a rough ride.
Õ¿Õ
· 1 year ago
We'll be in full depression by this winter. And bush and darth will be bombing Iran.
Õ¿Õ
· 1 year ago
Meanwhile, the christianists are fighting Playboy magazines being sold on military bases, which they've been doing for 40 years and here we have creationism being taught in schools again.
Hangtown Danile
· 1 year ago
banning soft porn at military bases? The HELL you say!
Õ¿Õ
· 1 year ago
I was listening to Coast last night and a guy with a family called in really panicked and terrified about his situation. Hey, we tried to warn you about republicans. Beginning to hit home, huh?
Õ¿Õ
· 1 year ago
la la la and all I can do is laughs to myself...
Indigo
· 1 year ago
Anyone who hasn't made a profit yet, isn't going to. That's a little bit sad but it's the short run future. I'd say recovery could happen in 2010-2011 but not before.
Here's a thought we rarely think: An early recession in a new administration can be blamed on the old administration. That opens the field for a fresh recovery and good times as the end of the next administration approaches. Cynical of course, but after all . . . let's not kid ourselves, it isn't about social justice or humane decency, it's about politics and power.
Õ¿Õ
· 1 year ago
What sort of new idea and technology will bring that about? Do you see anything on the horizon. The entire world now is descending into a depression. Sort of wishful thinking on your part.
Hangtown Danile
· 1 year ago
let's not kid ourselves, it isn't about social justice or humane decency, it's about politics and power. Power is the ability to make another man suffer. Who is going to be suffering in your world?
Õ¿Õ
· 1 year ago
Busboy lives off a private retirement account and collects social security. Dude, first they're going to come after you social security and then, one way or another, they will come after your private account. And they will do it "legally." There's simply no money. Where is the money going to come from? They're already doing it by printing all this money that makes it worthless.
Õ¿Õ
· 1 year ago
And as much as it should be a learning experience for the Amurkan people, expect the very worst from them. You think they're going to "finally wake up"? Yeah, they will but they'll do the absolutely worst things possible.
Õ¿Õ
· 1 year ago
Tell me how I'm wrong. I so wish someone would.
kingmans_performance
· 1 year ago
You are wrong because you provide nothing but empty salvos backed with nothing other than regurgitating Art Bell's claptrap. Its made insomniacs paranoid for years, and apparently its worked on you too. Try sticking your feet on the ground.
Õ¿Õ
· 1 year ago
Well, well, well. Show me yours, first. But one thing's for certain, we're certainly going to find out...
Andrew
· 1 year ago
It's amazing how dumbed down society has become and how gullable they still seem to be when it comes to the financial status of the US. Since last August, the DOW as well as other world financial markets have been signaling a continued spiral downward. As Inflation has been eating away at the dollars purchasing power, the great minds in D.C. just keep printing more and more of them including the make believe dollars that are arriving in the rebate checks. Has anything changed? Yes! The markets are nose diving and as we don't live in a bubble, the rest of the world is giving up on the greenback. Really you say?!?! Yes again. The answer is more than blowing in the wind as evidenced by the relentless rise of both gold and silver. Still the only real money that the rest of the world believes in sans the US. Does it really comes as any surprise to the economic writer that penned the piece we're talking about, that gold in just the last two days has risen by over $50? Gold is telling the world market place that the system is broken. Out of whack. That the more worthless dollars you print, the worst it's going to get and that is why the price of oil as stated by Goldman Sachs just a couple of weeks ago is heading towards $200 a barrel by the end of the year. The insiders know exactly how bad things are, but the little guy has to rely on the MSM and their corporate fed B.S. to sell you a con job. Actually, we're getting up the ass financially and it is going to get a whole lot worse before the light of day is seen. Good luck trying to keep warm this winter as the price of fuel oil and natual gas will continue to climb. Maybe the thought of freezing to death this winter for many, might actually get people to cut their politicians a new ass hole. If not, you might start to think about heading south to warmer climes.
kingmans_performance
· 1 year ago
ummmm.....those warmer climes generally depend on nearly as much energy to run their A/C in the summer as those people who will freeze to death do during the winter. heading south may not be the panacea you believe it to be.
Õ¿Õ
· 1 year ago
Moron, we don't use fuel oil here. It's coal which is relatively stable right now.
kingmans_performance
· 1 year ago
You uhh might want to check your own postings, asshat. Below it was you afterall who said this: "There's going to be alot of elderly people freezing to death this winter in the northeast. Buy electric space heaters now. But I'm afraid that the electrical grid wont be able to take it as many try to switch over from home heating oil to electricity. May be black outs."
Õ¿Õ
· 1 year ago
There's nothing that comes after the housing bubble.
Õ¿Õ
· 1 year ago
That's pretty clear. What's next for people?
Õ¿Õ
· 1 year ago
Happy talk? The tape worm economy of the last 15 years has ended.
Hangtown Danile
· 1 year ago
There will always be people who are first time buyers looking for a good deal. We got one. A good deal and a good loan. Lots of us are doing it. It i all about knowing the right time to buy. And not buying into a loan you can't pay for and expecting the fed to bail you out...
Andrew
· 1 year ago
I'll take warm at an equal or higher price than freezing to death. But until the American people make enough of a stink about it, it's going to be the same old same old in D.C. as these people don't budge unless their jobs and life styles are on the line.
kingmans_performance
· 1 year ago
Try living through an Arizona or Las Vegas summer without A/C...trust me, you will beg for that freezing weather.
Õ¿Õ
· 1 year ago
You voted for chimpy twice.
kingmans_performance
· 1 year ago
Actually no. Only cowards like you did, and then started posting nonsense here because you regret doing so.
Õ¿Õ
· 1 year ago
Uh huh.
kingmans_performance
· 1 year ago
Wow. Thats a strong comeback. "Uh huh". Got any thing else? I mean clearly you draw a logical connection between me pointing out your inconsistencies and voting republican...wow. You're a real intellectual titan.
Õ¿Õ
· 1 year ago
Funny, how you deny voting for the giggling murderer now.
Andrew
· 1 year ago
What's next for people? If we the people ever got as worked up over our financial state as we did over the FISA bullshit, we just might get somewhere. At leaast we bought some time to July 8th before they act on it. Will you be talking to your senator when he comes home for the July 4th recess?
Õ¿Õ
· 1 year ago
My electric bill this summer will be much the same as last year until the speculators, bailing out Wall Street and the banking industr, target it.
Õ¿Õ
· 1 year ago
Hey, pompus moniker, (don't they all have those?) I'm going to so enjoy watching you recieve you just desserts. LOL
kingmans_performance
· 1 year ago
LIke i said, cowards like you speak boldly, but rarely have a backbone. I'm surprised your mother allows you to use her computer for that long. How is it living in her basement?
Õ¿Õ
· 1 year ago
Uh huh. You still voted for chimpy, twice, and lie about it now. LOL.
Õ¿Õ
· 1 year ago
By the way, pompus moniker, how did you know I was refering to you? LOL
OlderAndWiser
· 1 year ago
This area has been in a recession for at least 3 years. No jobs, no new industry moving in...no one buying cars, furniture or anything they don't absolutely need. The local emergency help facility near me is overflowing with people, with utility bills and rent or mortgages they can't pay, and begging for food boxes and buying items of clothing for 25 and 50 cents. Sometimes they'll have bread, rolls, etc. donated by grocery stores and just put them out for anyone to take free.
You can smell the despair. I feel sorry for the kids especially because they don't understand when there's nothing for dinner or when they grow out of their clothes, and esp when the sheriff comes with an eviction notice. And crime is up in this neighborhood, too, esp. property crimes. Yet, we are surrounded by luxury lake homes bought by Charlotte refugees who work in the banking industry there, although some of those are being foreclosed on as well (the wannabees, not the truly rich).
jr
· 1 year ago
the Nasdaq reached 5,000 under Clinton. We've been in a recession since Bush started but it's unpatriotic to call republican policies failure
KerrynowCampau
· 1 year ago
I see more people being brought to Court because they can't pay debts. Food bank use here keeps going up. More homeless people seen wandering around and sleeping on benches.
The recession has been here for awhile.
Quasarerazar
· 1 year ago
Someone else posted this in comments at Washington Monthly about the opposite suggestion: that the recession would be over by the end of the year:
"For the economy to turn up by the end of the year, consumers (70% of the economy) are going to have to start getting more money to spend. Where will it come from?
Wages are not rising. Employment is not increasing, and is in fact decreasing. Credit standards are being tightened and credit is being withdrawn because the Banks do not have the capital required to lend more money. That includes credit card credit, also. Limits on credit cards are being generally lowered, to include those for customers with good payment records.
Oil prices will continue to rise, and food inflation is costing every household more money, money that is needed for consumption if the economy is to rise. Inflation is rising and will continue to rise, so that the same goods will cost nominally more. Inflation is not an increase in consumption, and inflation is going to get worse.
The "wealth effect" has been used for over a decade to increase consumption. With home prices continuing downward, the wealth effect is working in reverse and will continue to do so until the overpriced housing is cleaned out of the market. That's a big reason why consumer sentiment measurements are testing new lows. The banks are resisting that drop in home prices because they want to get paid back in full for the overpriced mortgages they have no their books, but the drop in home prices won't stop until home prices are back in line with rental rates.
Companies continue to sit on large cash reserves because there are no likely decent markets to invest in. Such markets are created by consumption, and there is no additional money going to consumers to create those markets. That means that giving more cash to companies and investors just sends that money outside the U.S. to where good investments can be found. In other words, Republican supply side economics can't work. The government will not, however, provide more aid to consumers in the amounts required to jump start consumption. The Republicans will stop that in its tracks.
Anyone who thinks the recession will be improving by the end of this year is simply spitting into the wind. That prediction is hope speaking instead of good sense. http://www.washingtonmonthly.com/archives/indiv...
All Comments
Have the strength to force the moment to its crisis?
But though I have wept and fasted, wept and prayed,
Though I have seen my head [grown slightly bald] brought in upon a platter,
I am no prophet—and here’s no great matter;
I have seen the moment of my greatness flicker,
And I have seen the eternal Footman hold my coat, and snicker,
And in short, I was afraid.
--T.S. Eliot
Here's a thought we rarely think: An early recession in a new administration can be blamed on the old administration. That opens the field for a fresh recovery and good times as the end of the next administration approaches. Cynical of course, but after all . . . let's not kid ourselves, it isn't about social justice or humane decency, it's about politics and power.
Power is the ability to make another man suffer.
Who is going to be suffering in your world?
Really you say?!?! Yes again. The answer is more than blowing in the wind as evidenced by the relentless rise of both gold and silver. Still the only real money that the rest of the world believes in sans the US. Does it really comes as any surprise to the economic writer that penned the piece we're talking about, that gold in just the last two days has risen by over $50? Gold is telling the world market place that the system is broken. Out of whack. That the more worthless dollars you print, the worst it's going to get and that is why the price of oil as stated by Goldman Sachs just a couple of weeks ago is heading towards $200 a barrel by the end of the year.
The insiders know exactly how bad things are, but the little guy has to rely on the MSM and their corporate fed B.S. to sell you a con job. Actually, we're getting up the ass financially and it is going to get a whole lot worse before the light of day is seen. Good luck trying to keep warm this winter as the price of fuel oil and natual gas will continue to climb.
Maybe the thought of freezing to death this winter for many, might actually get people to cut their politicians a new ass hole. If not, you might start to think about heading south to warmer climes.
We got one. A good deal and a good loan. Lots of us are doing it. It i all about knowing the right time to buy.
And not buying into a loan you can't pay for and expecting the fed to bail you out...
You can smell the despair. I feel sorry for the kids especially because they don't understand when there's nothing for dinner or when they grow out of their clothes, and esp when the sheriff comes with an eviction notice. And crime is up in this neighborhood, too, esp. property crimes. Yet, we are surrounded by luxury lake homes bought by Charlotte refugees who work in the banking industry there, although some of those are being foreclosed on as well (the wannabees, not the truly rich).
The recession has been here for awhile.
"For the economy to turn up by the end of the year, consumers (70% of the economy) are going to have to start getting more money to spend. Where will it come from?
Wages are not rising. Employment is not increasing, and is in fact decreasing. Credit standards are being tightened and credit is being withdrawn because the Banks do not have the capital required to lend more money. That includes credit card credit, also. Limits on credit cards are being generally lowered, to include those for customers with good payment records.
Oil prices will continue to rise, and food inflation is costing every household more money, money that is needed for consumption if the economy is to rise. Inflation is rising and will continue to rise, so that the same goods will cost nominally more. Inflation is not an increase in consumption, and inflation is going to get worse.
The "wealth effect" has been used for over a decade to increase consumption. With home prices continuing downward, the wealth effect is working in reverse and will continue to do so until the overpriced housing is cleaned out of the market. That's a big reason why consumer sentiment measurements are testing new lows. The banks are resisting that drop in home prices because they want to get paid back in full for the overpriced mortgages they have no their books, but the drop in home prices won't stop until home prices are back in line with rental rates.
Companies continue to sit on large cash reserves because there are no likely decent markets to invest in. Such markets are created by consumption, and there is no additional money going to consumers to create those markets. That means that giving more cash to companies and investors just sends that money outside the U.S. to where good investments can be found. In other words, Republican supply side economics can't work. The government will not, however, provide more aid to consumers in the amounts required to jump start consumption. The Republicans will stop that in its tracks.
Anyone who thinks the recession will be improving by the end of this year is simply spitting into the wind. That prediction is hope speaking instead of good sense.
http://www.washingtonmonthly.com/archives/indiv...