Its official: The US is in recession

grim,

please, the majority of Americans know NOTHING about just getting by. I saw a picture that accurately depicted this statement. Shows a brand new vehicle in some persons driveway, then shows a starving child in a third world country.

We know nothing about struggling to survive, only struggling to upkeep our high-quality way of life.

It was not always so. And it was not so remote in our past that we should be able to recall. This 'America' was an enterprise, not a country. Perhaps that's remediable, perhaps not. We have been 'conditioned' to consume to express ourselves. This is not discouraged. You can no longer separate the citizen from the information stream directed at him or her every day. We ignore this reality at our own peril. I know how to start the fix. Stop the information.

anachryon

Current estimation is that we entered a recession in Dec 07 or Jan 08. The market indicators of the past few weeks didn't cause us to go into one, though it has caused the existing recession to deepen.

And yet we seem to be 'led' to make the inference that we were not in one at all. Direct quotes and official proclamations seemed to indicate that the recession starts "now." Why is that? Could it be the obfuscation of the line between recession and depression? I don't know. Regardless of the technical definition, the economic downturn is staring us in the face.

SEEWHATUDO

The trickle down theory just didn't work for those families that make on or under the average income of $50,000.

I wonder if it was intended to? Clearly the trickle down theory was the 'voodoo economics' that George H. warned us of way back in the day. Go figure, he told the truth!


grim,

Socialism is bad because you take the people you don't trust to make decisions, give them all the power over your life, then give them an army to enforce it.

Socialism just gives more and more power to government. The mistake is letting the hard times make us weak and allow government to turn this country more socialist.

This doesn't sound much different than our current reality. I understand the precept, but when the information stream to the citizen 'steers' them with fluff and un-information, the citizen is not entirely "free" to make an informed consensual decision. How to resolve this?

mybigunit

Ok of there are plenty of people who dont rely on the system then why not let it crash like I have told you? The system is broke why not crash it and start over? There are plenty of people not reliant on it right? This system is set up for thievery and the working man is the victim. It needs to be changed.

I think we can't let it crash because it's not our decision to make. In the end the scenario was played out the maximum benefit of the banking industry. Why? What makes banks the measure of power? Do you think the government would let them crash if we asked? Oh wait!

grim,

Take a look at the amount of people in credit card debt.

THAT, I think is the "Sleeping Giant". If we all start to default on credit card debt, they are going to be jumping out those bolted windows on Wall street high rises.


Thanks for your patience.

MM

honestly, I think we should go help ourselves to $850,000,000,000 worth of bank buildings. I call dibs on the safe.

Seriously the market is about like the black knight in Monty Python and the holy grail. He's missing all his limbs and flopping about screaming
"What!? It's just a flesh wound..."

I think this picture sums it all up...

i476.photobucket.com...

warning: this picture could be construed as vulgar. don't go if you are under 18.

Wow, after a year of wishing and wishing it finally is coming true. Nothing else was working but you've finally gotten it, maybe. All they had to do was collapse the global financial system to get it. Nice job.

Hope they make the best of the little time they have left. Is the recession supposed to help the Democratic or Republican candidate?

The Balloon has ruptured, now with all the bailouts and Billions re-invested in the economy, they are just applying plasters to try to keep the Balloon still inflated.

Just like Ron Paul said : It`s like a crack addict getting his "fix" to keep him high for a little while more".




This will not last long, 19 days until the elections, I think that something, like a side show freak scenario will happen really soon !!!

Doubtless were probably in a recession and Bush\Mccain is in denial

But I wonder if there is a Democrat conspiracy behind the announcement. Announced on the "same day" as the last debate for an extra "bump" for Obama.

Janet Yellen who anounced the recession was a Clinton appointee, a democrat, and a contributer to Kerry's reelection and the DNC.

www.campaignmoney.com...

www.minneapolisfed.org...

I smell a Rat in the democrat.

www.time.com...

That, of course, is bad news for the U.S., but it also means the one-two punch of the financial crisis and possible recession could mete out pain around the globe.

Definately , these are going to be tough times the world over.