Double Dip Recession coming our way? What do you think?

[999969999]

http://247wallst.com/2010/08/13/what-the-double-dip-recession-will-look-like/










I'm trying to get us on to other topics. Let's see if this works.

[bigboab]

How depressing. Who was the cause of all this? You can't blame the Obama admin. They haven't been in power that long. Give them a chance.
Do you ever cheer up in Eager? Little wonder your forest is petrified.:whistling

[Halogen]

Just try to keep the recession to yourselves this time, mkay?

[999969999]

How depressing. Who was the cause of all this? You can't blame the Obama admin. They haven't been in power that long. Give them a chance.
Do you ever cheer up in Eager? Little wonder your forest is petrified.:whistling

That's true. We can't really blame Obama for this (although many Republicans are already trying to blame him for it), although he hasn't done anything to help the situation, either. Part of it can be blamed on Bush and the previous congress. There are really so many factors at work here that there is a lot of blame to go around to a great many people, not just in government but in businesses and in the private sector, including even the American consumer, who in essence, spent more than they could possibly afford to pay back.

If we do end up going into a double dip recession, I think we are seriously in real trouble over here. I think we may very well be at the beginning of another Depression.

Ha! So you've heard of the Petrified Forest? When I was a little kid I was scared of it-- just the name sounded scary-- until my parents took me to see it. It wasn't anything like what I had expected. Just a bunch of rocks, but once I looked closer I could clearly see the ancient tree rings in them. And then it was quite amazing to me.

[999969999]

Just try to keep the recession to yourselves this time, mkay?

I don't think we can do that.

It will probably spread to Europe and Asia as well.

[999969999]

Here is an idea from Donald Trump about taxing imports from China to help our economy...

http://money.cnn.com/video/news/2010/04/06/n_trump_china_sob.cnnmoney/

What do you think about this? Would this cause a trade war?

[bigboab]

Here is an idea from Donald Trump about taxing imports from China to help our economy...

http://money.cnn.com/video/news/2010/04/06/n_trump_china_sob.cnnmoney/

What do you think about this? Would this cause a trade war?


I think it would start a trade war that The U.S. would lose, initially. The U.S. would have to restart their manufacturing base all over again which is something I agree a lot of countries should do. It will not happen because of the greed of big business in trying to get the biggest bucks with the smallest outlay.

Donald Trump? Why has he got a grudge against China? Is it because he can't railroad his own businesses into China, 'bulldozing' his way through planning laws as he did in Scotland in order to build a golf complex, against the wishes of a lot of the locals? Like Scotland needs another golf complex. He is only building it in memory of his mother who came from Scotland.

[999969999]

Here is an idea from Donald Trump about taxing imports from China to help our economy...

http://money.cnn.com/video/news/2010/04/06/n_trump_china_sob.cnnmoney/

What do you think about this? Would this cause a trade war?


I think it would start a trade war that The U.S. would lose, initially. The U.S. would have to restart their manufacturing base all over again which is something I agree a lot of countries should do. It will not happen because of the greed of big business in trying to get the biggest bucks with the smallest outlay.

Donald Trump? Why has he got a grudge against China? Is it because he can't railroad his own businesses into China, 'bulldozing' his way through planning laws as he did in Scotland in order to build a golf complex, against the wishes of a lot of the locals? Like Scotland needs another golf complex. He is only building it in memory of his mother who came from Scotland.

Yeah, it would take a number of years to get our manufacturing base back up and running at full capacity, and the transitional phase would be very difficult for most people because the price of every imported item would go through the roof at first. But in the long run, it would probably be good for us as a nation to build our own stuff and to export more than we import.

I think that's why he is so angry at China. They won't let him bully his way into their country.

What's sad is that we don't have any politicians who as outraged about China, for more legitimate reasons. :(

Ha! I wouldn't think Scotland any more places to play golf! :)

[Skiz]

Double Dip Recession coming our way? What do you think?

I think it's bullshit 'doom and gloom' talk, for the sake of a headline.

[Gorbux]

This double dip recession is going to affect the entire world whether you like it or not. If you haven't noticed, the entire world went into a recession around the same time because we all trade with each other.

[MagicNakor]

Double Dip Recession coming our way? What do you think?

I think it's bullshit 'doom and gloom' talk, for the sake of a headline.

Unfortunately the nature of markets makes that continual sort of talk very dangerous. Of course, invest in the right things...and it can make one very wealthy.

:shuriken:

[999969999]

Some of the points in the article seem to be already at our door...


"The cost of homes in the areas where prices have already dropped by 50% or more will continue to fall. These regions typically have the highest unemployment rates, the local governments are hard pressed to offer basic services, and potential buyers are aware that home prices could drop further. Real estate values in these areas could drop another 20%. In the rest of the country, protracted unemployment and the unwillingness of banks to lend would make otherwise attractive all-time low mortgage rates unappealing."

In Arizona, for instance, home prices are still dropping. Just recently a speculator bought a foreclosed home down the street from me for about half of what it originally sold for, and then he fixed it up and tried to sell it again, and no one has made an offer on it. We talked to him about it and he said he made a huge mistake not waiting for the price to drop further before buying it.


"One of the primary reasons that consumer buying activity did not grind to a halt at the beginning of the last recession was that people still had access to a huge reservoir of home equity loans most of which were taken out at the peak of the real estate market in 2005 and 2006. The New York Times recently reported that “lenders wrote off as uncollectible $11.1 billion in home equity loans and $19.9 billion in home equity lines of credit in 2009, more than they wrote off on primary mortgages, government data shows. So far this year, the trend is the same.” Retail activity was helped somewhat by the capital available on these lines of credit, so store closings were probably deferred to the latter part of 2008. With more than 11 million mortgages underwater, 24% of the national total, and several million more within a few percentage points of being negative, the consumer will have no cushion as the economy deteriorates over the next six months."

This is what is taking a huge bite out of consumer spending and consumer confidence. They don't have any home equity left.

[che]

Ireland has just announced that it has gone into recession again. It has it's own set of unique set of circumstances but is it the pre-cursor for Europe?

[j2k4]

Ireland has just announced that it has gone into recession again. It has it's own set of unique set of circumstances but is it the pre-cursor for Europe?

Well, there sure are a lot of other things that move left-to-right, so...yeah, probably a precursor.

[orcka]

double dip?.As far as most are concerned it's just one long recession.

[999969999]

double dip?.As far as most are concerned it's just one long recession.

Yeah, for the average person, it has been just one long recession with no recovery whatsoever.

It's not easy to build a strong economy by delivering pizzas to each other (in other words, relying on the service side of the economy rather than on manufacturing and exporting more than we import).