Where is the US economy headed?

@cicerone imposter,

Quote:

The market is now reacting to the reality that the GOP-tea party is not ready to compromise, and the economic future is already predicted to be dismal. What little hope existed a few days ago is now becoming our reality; no hope.

Partisan Americans of a liberal ilk may well take that view, but I think the majority concern is that Washington no longer functions. This is more " NLF football sucks" than it is "the Redskins suck".

1 Reply

@kickycan,

You do have a good reason to be mad but this is not the answers to our problem but instead it is our problem! It will require educating the masses to get a majority to make the changes in society that we need!

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@reasoning logic,

rl, How idiotic are you? Educate the masses? You're crazy, but mostly not of this world.

Your prissy attitude goes beyond the pale.

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@cicerone imposter,

Please help me to understand your point! Can you go into more depth? Are you certain you understood my point?

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@cicerone imposter,

Quote:

Your prissy attitude goes beyond the pale.

Wasn't it you who claimed to be a gentleman just recently?

I am confused!

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Young Tea Party Girl easily Kicks the Cans Ass - film at 11.

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@cicerone imposter,

Do you believe that this would be a bad thing to question? Is our president deceiving us?

Is there a possibility that we need to get other people to listen to messages like this and to ask of themselves too consider, "what would be most beneficial for us all?

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@hawkeye10,

hawk, I'm not a 'liberal.' How often do I have to mention this?

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@cicerone imposter,

When you say you are not liberal do you mean that you are not in favor of progress or reform, as in political or religious affairs, or do you mean something different?

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@cicerone imposter,

cicerone imposter wrote:

hawk, I'm not a 'liberal.' How often do I have to mention this?

I did not say that you are, but you are displaying liberal bias as well as american bias. Much of our debt and equity market instruments are owned by non Americans, and I dont think they care about which party is getting most of the blame for Washington not working, they only care that the political system does not work which threatens the economic system which make investing in America anywhere by any means more risky. They are not looking in saying "repubs will not deal" they are looking in saying "Washington can not get a deal done"

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@hawkeye10,

I show bias depending on the issue. Show me where I have displayed "liberal bias?"

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@hawkeye10,

Your conclusions are wrong. What affects the US affects the world economy. It's not about "Washington can't get a deal done." It's about the effects of the debt ceiling that has already impacted all economies. That's not a liberal bias; it's a world economy bias.

If you have been reading this thread, you would have seen that I have criticized both parties.

1 Reply

@cicerone imposter,

Australia's stock market also lost - following the 200 point drop in the US market.

Quote:

Australian stocks down sharply after U.S. losses

LOS ANGELES (MarketWatch) -- Australian stocks fell in early Thursday trading, tracking U.S. losses overnight, as the Washington debt impasse raised concerns about global growth. The benchmark S&P/ASX 200 lost 1.2% to 4,482.70, with BHP Billiton Ltd. and Rio Tinto Ltd. were each down 1.5%, BlueScope Steel Ltd. behind by 2.3%. Supermarket group Wesfarmers Ltd. fell 2.3% after sales at its Kmart and Target units saw sales decline in the last quarter. Among financials, Macquarie Group Ltd. lost 3% after saying its first-quarter performance declined compared to its fiscal fourth quarter.

As I've stated, it's devastating to the world economy.

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Let the finger pointing begin...

Quote:

The U.S. economy ground to a crawl in the second quarter as consumers spending slowed, hiring stalled, and gasoline prices rose.

The Commerce Department's first estimate of second quarter growth, released Friday, came in at a 1.3 percent rate, much lower than the consensus estimate of around 1.8 percent.

What's more, first-quarter output was sharply revised down to a 0.4 percent pace from 1.9 percent. More

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@JPB,

US markets down about 1% at the open.

1 Reply

@JPB,

That's only the opening action; without any agreement in Washington DC, the stock market - of the whole world - will trend downward. That's a given.

The tea party must be proud; they're affecting the world economy. Who else except bin Laden was capable?

They have become the number one terrorists of this planet.

1 Reply

@JPB,

Quote:

Let the finger pointing begin..

I would like to point my finger at the US Government for getting its information so consistently wrong, always to the optimism side. They are either lying with new numbers trying to drum up support or this economy and this government or they are incompetent.....either way

4Q 2010 was 3.1% now 2.3%
1Q 2011 was 1.9% now .4%
2Q 2011 claimed 1.3% but you just know it will be refigured to a lower number in a few months. Hell, we are still marking down numbers from years ago

Quote:

WASHINGTON (AP) — The 2007-2009 recession, already in the record books as the worst in the 66 years since the end of World War II, was even worse than previously thought.
From the start of the recession at the end of 2007 to the end in June of 2009, the U.S. economy shrank 5.1 percent. That is 1 percentage point worse than the previous estimate that the recession reduced total output during that period by 4.1 percent.

http://news.yahoo.com/revisions-show-deeper-2007-2009-recession-123340982.html

We are already at the place where the citizens do not trust the numbers and the pronouncements coming out of Washington, as they are almost always wrong, often massively so.

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@cicerone imposter,

Quote:

The tea party must be proud; they're affecting the world economy. Who else except bin Laden was capable?

They have become the number one terrorists of this planet.

What ignorant, fatuous drivel that is. It's like a bloke telling his wife and daughters to cut their spending to stave off bankruptcy and them replying that it will affect their lifestyle and he's a terrorist so there!!

I presume the Tea Party believe they are seeking to strengthen the economy and if anybody wants to disagree with them they should make an economic refutation instead of blurting out insults and lip-pulling invective which only serves to prove that they are completely stupid right round the compass.

1 Reply

@spendius,

spendi, Any fool can see the damage the tea party has already affected the world's markets; that in no way strengthens any economy.

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Indications are that we are already in a second recession and that Obama
is driving the US into it's second depression as fast as he possibly can.

1 Reply

Where is the US economy headed?

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