Centrist Think Tank Conducts Study, Finds US Default "Could" Push Country Into Recession

Centrist Think Tank Conducts Study, Finds US Default "Could" Push Country Into Recession

www.zerohedge.com

And for today's second most surreal piece of news (the first being that Osama was a fan of RedTube and Adult Friend Finder, whose stock tumbled 25% after its IPO on news that such a loyal customer is now dead), we turn to Reuters which brings us news of a "report" by centrist think tank Third Wave, due out on Monday, which finds that "the United States could plunge back into recession if inaction in Washington forced a debt default, according to a new analysis that arrives as the country reaches the legal limits of its borrowing authority....Some 640,000 U.S. jobs would vanish, the housing

(visit the link for the full news article)

We are sooooooooooooooooo #ed!!!!!!!!! the economy is going to tank, bank on it. I read an article the other day saying that a global collapse could come within this year and it would only take 15 minutes (tops) for everything to come down in flames... scary times...

Stock up on survival gear, god knows we are all going to need it.

www.zerohedge.com
(visit the link for the full news article)

Maybe we shouldnt be spending $750 million on Libya then. And who knows how much more over the whole Mid East.

Broke? Stop spending like drunks with a stolen credit card. Period.

Edit to add, and "could push us into recession?" Where the hell have we been since the market collapsed? Their "economic recovery" is like Big Foot. Plenty of claims that people have seen it, a few fuzzy unverified snapshots that could be evidence, but no real solid evidence at all.

This needs to be flaged! im going to buy the rest of my supplys this weekend. if Monday does not crash the market. June 30th will!

This is retarded. We are already in a recession. If you don't already see it then you don't see what's coming next. It's as simple as that really. You need a "THINK TANK" to tell you that we're in a recession already?

Yes, over at www.gunsgrubandgold.com... (kind of slow at the moment) we have been warning of this for some time. Lots of survival manuals not found anywhere else. Its free and if anyone is interested you can sign up and contact an admin for free access to the manuals.

In any case, collapse is around the corner. We have interviewed numerous individual from countrys that had internal issues and monetary collapse, and they all had the same thing to say - invest in TANGIBLE COMMODS. I know many are bent on gold or silver, etc. but in a real global event (which on group of economists have indicated would take less than 15 minutes for the world to simultanously collapse) people will trade and barter for useable commods. PM's or any other form of currency, ie wealth transfer / accumulation only become viable when the basics of everyday life have become stable and are easily obtainable - thus leading to wealth accrual, etc.

Invest in seeds, water, protection, etc. It does not look good these days, and what concerns me the most is not survival, been there done that, it is how many will respond in this egocentric society - ie looting, pillaging, etc.

Anyone who has been in that type of situation knows what I mean...

Originally posted by Bonified Ween
This is retarded. We are already in a recession. If you don't already see it then you don't see what's coming next. It's as simple as that really. You need a "THINK TANK" to tell you that we're in a recession already?

yea, I actually found that funny. If you look at the charts, numbers, etc. it becomes crystal clear that we have surpassed losses and other economic indicators of the GREAT DEPRESSION of the late 1920's. I think people are afraid to use the "depression" word and go with the lessor of two evils, ie "recession"...

And who is holding the economy hostage --

Republicans were happy to vote to raise the debt ceiling from 5 trillion to 12 trillion - but now they want to commit financial suicide

Originally posted by spyder550
And who is holding the economy hostage --

No one, per se. This is NOT a party issue, but Keynes economic fallacy - THEY DO NOT LAST and require extreme amounts of fiat to keep the engine going. Once it goes exponential, it ALL OVER!!! As of 1970 (when the US went from largest creditor to largest debtor) the US credit line has DOUBLED every 10 years or so. Currently, the US credit market debt is 52 TRILLION dollars, yet the US needs to DOUBLE this to move the economy - to 104 TRILLION dollars. Currently R^2 = .9889 we are going EXPONENTIAL!!!!!!!!!!!!!!!! BerWankes 2-3 TRILLION is not doing anything, in fact we should have doubled the credit market debt in 2008, which means we are already $15 TRILLION behind the curve.

IT IS 100% UNSUSTAINABLE, NO MATTER HOW YOU SLICE IT!!!! We are NOT going to emerge from this smelling like peaches and cream...

"Could" push us into a recession? These people don't get out much. We are ALREADY in a recession. Our country has borrowed and spent itself to the brink of collapse. People need to stand up and retake this nation because our current government is going to destroy it. Our forefathers are probably spinning in their graves seeing what has been done to this country.
[rant]
We would have much more money if good ol' Uncle Sam would quit using our military as the worlds police force, quit paying off other countries to be our friends, and bring our jobs back from overseas. I would gladly accept a call center job if I needed one. Unemployment is at record numbers. While the unemployment rate drops, most people don't understand that the unemployment rate counts only those receiving benefits, Those who have exhausted their benefits are not even counted. We are way worse off than most think. [/rant]

Originally posted by ShAuNmAn-X
"Could" push us into a recession? These people don't get out much. We are ALREADY in a recession. Our country has borrowed and spent itself to the brink of collapse. People need to stand up and retake this nation because our current government is going to destroy it. Our forefathers are probably spinning in their graves seeing what has been done to this country.
[rant]
We would have much more money if good ol' Uncle Sam would quit using our military as the worlds police force, quit paying off other countries to be our friends, and bring our jobs back from overseas. I would gladly accept a call center job if I needed one. Unemployment is at record numbers. While the unemployment rate drops, most people don't understand that the unemployment rate counts only those receiving benefits, Those who have exhausted their benefits are not even counted. We are way worse off than most think. [/rant]

Yep, you are correct. I see where McDonalds hired 62K workers and the business channels were mentally masturbating over the "good" news. How pathetic... I also find in comical that housing sales are up, yet the NAR and the government fail to divulge that, by law, REO's and foreclosures are considered "sales" once the bank takes repossession.

Personally, I believe that the problem today originates with free and lax borrowing standards, welfare, and other social programs that we simply cannot pay for. That and poor judgement, ie NAFTA, CAFTA, etc. wherein hundreds of thousands, if not millions of manufacturing jobs simply vanished overseas... Ross Periot was right all along...

reply to post by pityocamptes


What bank it their right mind would mortgage a house to a McDonalds employee save for management...

I tell ya.. If it does happen.. it's not often

Originally posted by DaMod
reply to post by pityocamptes

 

What bank it their right mind would mortgage a house to a McDonalds employee save for management...

I tell ya.. If it does happen.. it's not often

edit on 13-5-2011 by DaMod because: (no reason given)

Hahahaha, currently? Probably none, though I expect some "policy" coming out soon by the Admin to "stimulate" the housing slump. A few years ago, anyone who could "fog" a mirror got a loan...

SCORECARD OF TRUTH:

Actual Unemployment Rate = 22% (see John Williams SGS *Shadow Government Statistics* alternative unemployment rate reflecting methodology that includes "long-term discouraged workers" that the Bureau of Labor Statistics in 1994 under the Clinton Administration redefined away from those considered "unemployed."
www.shadowstats.com...)

Real Inflation Rate = 8.8% Annualized (with a head of steam baked into the cake to possibly accelerate this significantly by Q3)

Government Net Transfer Payments = 51% of U.S. Population

1 out of 7 Americans on SNAP (aka Food Stamps)

U.S. Deficit (Annual Revenues - Expenditures) = -1.9 Trillion

U.S. Debt = Officially stated as 15 Trillion as of 2011 (actual is 56 Trillion to 202 Trillion; reference David M. Walker & Laurence Kotlikoff) - U.S. Is Bankrupt

U.S. Government Spending as % Component of U.S. GDP at Present = Approx. 1.6% (so if GDP is stated as 3.2%, U.S. 'Organic' GDP is only rising at 1.6%)

Approximate % of GDP Growth that is Nominal & Attributable to Inflation = 1.1% (so that 'Organic' 1.6% Growth in GDP is closer to 0.5% - not enough to stop further job losses and close to the point whereby we could start contracting again very soon)



You're Doing A Hell of a Job, BerWanki (crushing consumption and organic economic & job growth while ratcheting inflation higher, all in one fell swoop)

Originally posted by spyder550
And who is holding the economy hostage --

Republicans were happy to vote to raise the debt ceiling from 5 trillion to 12 trillion - but now they want to commit financial suicide

edit on 13-5-2011 by spyder550 because: (no reason given)

There is no one party to blame. you rather raise it and kick the can down the road longer? its going to happen NOW or later. you cant get away from it.

The sonner it happens the less hard its going to be

Originally posted by camaro68ss

Originally posted by spyder550
And who is holding the economy hostage --

Republicans were happy to vote to raise the debt ceiling from 5 trillion to 12 trillion - but now they want to commit financial suicide

edit on 13-5-2011 by spyder550 because: (no reason given)

There is no one party to blame. you rather raise it and kick the can down the road longer? its going to happen NOW or later. you cant get away from it.

The sonner it happens the less hard its going to be

Unfortunately, it is not going to be easy. An energy article the other day indicated that with 2-3% GDP growth worldwide from now (2011) to 2031-2036 we will consume more energy than has been consumed from the dawn of man up to 2011. EVERYTHING is going exponential in a finite world. Ever wonder why Soros, etal advocate bringing the world population down to "sustainable" levels of 500 MILLION? It's because they realize that things will only get worse, not better. The days of cheap oil are gone. Expect energy, food, etc. to increase dramatically - in fact contract longs for oil are at $200+ per barrel settled yesterday for the end of this year (December 2011 contracts). Given this, inflation, crumbling currency, etc. gas will cost at least $8-10 dollars a gallon, if not more, and food will be out of this world. As many of my interviewees have told me, food at some point (acquiring and buying said food) will be the first and foremost thing on your mind... because you won't be able to find it... bad times are here, worse times are coming.

As we like to say on Guns Grub and Gold... "Blessed are the PREPARED, for they shall inherit the Earth"

reply to post by pityocamptes


yeah i got about $600 worth of stuff still to get. Top of the list is seeds for our bug out property off the grid with plenty of rivers with streams and fish in them. I bought all the books about everything im going to need to know on how to live on a homestead. Got all the guns and ammo i could want, well you can never have enough guns lol

O I know its coming. I jut became aware 6 months ago and have been getting ready ever sence.

Originally posted by camaro68ss
reply to post by pityocamptes

 

yeah i got about $600 worth of stuff still to get. Top of the list is seeds for our bug out property off the grid with plenty of rivers with streams and fish in them. I bought all the books about everything im going to need to know on how to live on a homestead. Got all the guns and ammo i could want, well you can never have enough guns lol

O I know its coming. I jut became aware 6 months ago and have been getting ready ever sence.

Make sure your property is not too far. When it hits you will have 3-6 hours max to get to your "location"...

reply to post by pityocamptes


its 4 hours out, i can get there with one tank of gas but also will be bringing a back up 30 gal of gas in the truck bed. Only thing that sucks is i have to pass alot of bridges and choke points. Thats why bugging out is important the first few hours or in the middle of the night after the crash before everyone wakes up and relises there F*****

Originally posted by camaro68ss
reply to post by pityocamptes

 

its 4 hours out, i can get there with one tank of gas but also will be bringing a back up 30 gal of gas in the truck bed. Only thing that sucks is i have to pass alot of bridges and choke points. Thats why bugging out is important the first few hours or in the middle of the night after the crash before everyone wakes up and relises there F*****

Though that is a valid concern, that is not the main reason why you should really focus on getting to a point no more than 3 hours away...