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View Full Version : U.S. Economic Outlook - Time to panic?



David G
07-31-2010, 01:14 AM
This Newsweek article expresses fairly well my take on the current situation. We're still a bit fragile. I'm not willing to don my cheerleaders outfit and shake my pom-poms in celebration of our being out of the woods. However, every month that goes by without us slipping backwards toward the dreaded DoubleDip makes it that much less likely that we'll do so.

My gut says we're slowing climbing out. It'll be a slog, and we may never reach the same level economic strength and dominance that we had 40 years ago... but we'll be ok.

http://www.newsweek.com/2010/07/30/don-t-panic-about-the-economy.html

His first point is something I wasn't tracking, but is unsurprising. His second point I agree with strongly. His third? I'd have to do more research before I could agree or disagree. I'm a little skeptical.

My biggest fear, however, is that this downturn, and the the general rapid restructuring that world economics us experiencing, will be used as a means to shift the U.S. even further toward the Banana Republic model. That is - more haves, more have-nots, and a smaller middle class. That would not be good for the world economy. It'd be worse for us as a nation. It'd be even worse for my children.

paul oman
07-31-2010, 07:12 AM
nothing to fear! Isn't Obama calling it the "summer of recovery"? Certainly no one here thinks the Great One is pulling something over on us. Didn't he promise change? Who cares about the polls, right? Just right wing brainwashing and Fox News bias. Things always improve in the fall when summer jobs end, kids go back to school and their parents stop looking for a new house to buy, AZ case hits the next layer of courts, more folks die in Afgan., Ragel trial hits, bush tax cut fight heats up, probably Iran/nuclear comes to a head. Happy times ahead!

skuthorp
07-31-2010, 07:20 AM
".............I'm not willing to don my cheerleaders outfit and shake my pom-poms ................"
Aw David!................
There really is no reason that the US shouldn't recover in time unless it is an internal political issue, but I think you are right about not to the same level. China already owns the debt and has the cash and the consumers. A Macquarie Bank head said last week that doing business with China was difficult because they didn't need the (loan) money.

Pugwash
07-31-2010, 07:24 AM
nothing to fear! Isn't Obama calling it the "summer of recovery"? Certainly no one here thinks the Great One is pulling something over on us........

http://t1.gstatic.com/images?q=tbn:84lRZ7lUA5oZIM:http://i3.photobucket.com/albums/y82/CiscoKiDD/ultra_maroon_sm.jpg&t=1

RonW
07-31-2010, 08:02 AM
Bugs bunny...great...when my boys where little they use to love watching bugs bunny...

I see puggy still does...

So why discuss the economy or politics....hell, bugs bunny is on...

Pugwash
07-31-2010, 08:26 AM
Bugs bunny...great...when my boys where little they use to love watching bugs bunny...

I see puggy still does...

So why discuss the economy or politics....hell, bugs bunny is on...

Actually, I've moved on to Hentai (rule #37). But either way, yes I do still like animation.


However, I am still able to read an OpEd about the economy without having a minor epileptic fit & spluttering about how Obama is to blame for everything, ever.

You should try it sometime.

;)

Black-Jack
07-31-2010, 08:37 AM
However, I am still able to read an OpEd about the economy without having a minor epileptic fit & spluttering about how Obama is to blame for everything, ever.



;)


Thats right, everyone knows its bushes fault anyway, ( and cheney of course ). They ruined the economy because they hate black peoples.

Black-Jack
07-31-2010, 08:42 AM
from the article


Investments in equipment and software rose nearly 22 percent in the second quarter, after a 20.4 percent gain in the first quarter.


sounds to me like companies are buying anything but more labor. In fact a point could be made that a new equiptment and software buying spree may be precedent to more layoffs.

Wheres the jobs?

skuthorp
07-31-2010, 01:04 PM
from the article



sounds to me like companies are buying anything but more labor. In fact a point could be made that a new equiptment and software buying spree may be precedent to more layoffs.

Wheres the jobs?
The jobs are gone to countries like India and China, even Sth America. The 'workers' are surplus to requirements. A war was the usual answer, kill 'em off, but even this solution may not be an option now.