Signs Point To Deep Recession

Madistan.com ^ | November 20, 2008 | Neil Irwin

[Diana in Wisconsin]

Businesses cut prices at a record rate, and builders started fewer new homes last month than anytime on record, according to new government data, as the outlook for the economy continues to dim.

The data helped spur another terrible day for the stock market Wednesday, as did a projection of more hard times ahead by leaders of the Federal Reserve. A serious recession now appears all but assured.

[TheWasteLand]

[FBD]

Some uncommon, common sense points, from the ranting ghost of Thomas Paine:
“Lay down your misplaced global burden.”

http://www.lawatchdog.com/SecondRevolution071108.html

.

[Thumper1960]

Actually, it might end up something like that.

After all....there is no organized opposition party to the demoncrats. None. And all the bluster of hard core anti-socialists cannot change that.

Face it. We are alone. Utterly and completely alone and without a coherent, cohesive, viable organization to repel whatever the left wants to do.

Disarray is the term for the once conservative Republican party. It'll take an act of God and a score of months for anything recognizable as a "conservative" tendency to gain any power.

[brydic1]

I like an expression I heard this evening. “The conservatives turned their bus over to GWB and the republicans and they drove it into a ditch.”

[Moonman62]

It’s amazing the lengths FReepers will go to avoid placing blame where it belongs, eight long years of horrible economic leadership by the GOP.

[dragnet2]

Good Lord. I can barely find a teen that will sweep the floor at my garden center without feeling that work is “demeaning” to him.

Then you should get the hell out of Wisconsin.

I see a lot of younger people working their asses off here in California...Yeah, some are out of work, but most of those I see working are working hard. Most here have already figured out, if ya got job, ya better keep it, understanding that this leadership has driven this economy into a tank, and they'd better hang on to what they have.

If the teens and young people in your area haven't figured this out by now, they never will.

[Moonman62]

I doubt if anyone can do worse than W did the past eight years. For the sake of the country, I hope Obama does well.

[P.O.E.]

Homes are now more affordable.

[IoCaster]

"The liberal wicked, satanic mediaWHORES created this fiasco for the sole purpose of electing the BLACK messiah...now WE our country and grandkids are going to have to pay terribly for their evil hellish deed.

A bit more hysterical than I would have phrased it, but there's certainly an element of truth buried therein. The media is going to have to bear the cost of much of the economic disruption and we see that happening now. When ideology trumps all, the cost is usually prohibitive.

[Thumper1960]

LMAO!!!!!!!!!!!!!!

Well.....(snicker).....Hillary's a man, and the anti-Christ....0bama's got a taste for scat and he'll take the "easy way out", if ya know whut I mean.

Oh....and according to 8-Ball, G W Bush is a true Marxist mole.

I wonder..........................

[BenLurkin]

Obama will make W look like an economic genius AND a great patriot.

[Reeses]

I know there would be nation-wide enthusiasm for building a wall between The United States and Mexico, and just think of the jobs it would create.

The socialists are in power and you want a Berlin wall? We might need the escape route. The Mexicans and everyone else come here for the jobs, of which there aren't a lot right now. If you put a jobs program on the border the Mexicans will either get the jobs directly or get the lessor jobs of Americans that get the jobs.

[ncalburt]

Your kidding me ?
Your falling for this crap from the Obama media ?
This is a Obama media scam to give Pres Soros and his puppet to socialize this country !
This is not a huge recession .
The stores were packed here today!
Stop drinking the Obama media kool aid .

[ncalburt]

You full of crap.
W did a decent job after 9/11 .
Are you Obama drones still here ?
Is you new agenda to spread the economy phony crisis to let Pres Soros radiclize this country ?

[org.whodat]

Because corporate junk bonds are more risky to own, investors often demand a higher yield to buy them. Wednesday, these yields, which move in the opposite direction of bond prices, rose above 20 percent for the first time since 1990.

How about that, 1/2 of nothing plus 1/2 of nothing still equals 1 whole nothing, and 20% of nothing is still nothing.

[dragnet2]

Obama will make W look like an economic genius

Boy, that says a lot for W huh?

[ncalburt]

Exactly.
Now the Obama drones are back peddling the latest Pres Soros scam . Let talk down the economy to justify socialize everything .
Team Obama is real busy here tonight.

[dragnet2]

W did a decent job after 9/11

Oh sure, things are just peachy!

:o

[org.whodat]

Last figure I saw was that we had approximately 10 million finished and unsold new homes on the market, and they have been on the market for two are more years, and the number is growing from foreclosures. So I would say the number is probably low. As the starts are custom builds, I don't think any speck homes are getting built.

[ga medic]

“I like an expression I heard this evening. “The conservatives turned their bus over to GWB and the republicans and they drove it into a ditch.”

I like that too. Obama will probably bury the bus, but it still doesn’t remove the responsibility from this current administration. No matter how much future damage the Obama administration causes, this meltdown occurred on W’s watch and we shouldn’t make excuses for it.

There were many here at FR that knew early on that there weren’t going to be any conservative principles guiding the Bush administration. Maybe now that they have been proven right, they can begin to recreate the GOP based upon some REAL conservative principles.