You read it here first.
Unless the government gets involved and tries to “fix” the economy with more bailouts, inflation and public debt.
Unfortunately, the messiah is determined to follow the example of FDR and parlay a recession into a depression in order to grow government.
Well, two others beat me to it but just to throw my voice into the chorus, it would not be bad but for massive government intervention and the Fed. Nationalization of entire industries and depreciating currency are greater problems than a recession.
>>”9) The nearing end. Not the end of the world - the end of the recession. We’re in the middle of it now, and the economy will get worse before it gets better. But in a downturn the economy starts to improve, little by little, before a lot of people realize it. ... But those determined to make their life better will get their chance. We still do that in America.”<<
Actually, I don’t think we’re fully out of the second inning. It’s not 1929. It’s 1930. Anybody want to take a stab at what the stock market did between 1930 and July of 1932?
hint: it makes the October 1929 crash look like a bull market.
ping
The gov’t will screw up any good news.
Wonder why they left that one out.
There is no such thing as a good recession. The author is an idiot.
The best thing that will arise out of the recession is the demise of incompetents and crooks like Bernard Madoff.
One benefit. The Enemy has had a major economic prop kicked out from under. This downturn is not (yet, at least) actually all that painful for us. It seems to be a real blow to the Moslem world and to Russia. China is not in very good shape now, either.
BFL.
I have been able to save hundreds of dollars a month by paying off a vehicle, letting our cleaning lady go, and eliminating all cable channels. The only thing I miss is the weekly housecleaning. I’ve been surprised at how little we miss all those hundreds of TV channels that never seemed to have anything interesting to watch. Now we’re buying guns, ammo, and extra food, so the money we’re saving isn’t going into a savings account, unfortunately.
FDR realized he could use the financial crisis to impose a wartime immediacy on the populace and get away with just about anything.
Outsourcing jobs and increasing the price of goods due to skyrocketing fuel costs killed the economy. When 70 percent of your GDP is people buying crap and you cut into their discretionary income to reduce labor cost, you’re going to see people spending less.