Posted on 03/03/2010 1:25:47 PM PST by Nachum
I guess they couldn’t blame Bush this time so they went for SNOW DAYS instead! /s
We’re good.
How long do you see it taking for housing to turn around and begin its sluggish recovery? We have a huge shadow inventory of foreclosures to get through before we can even begin to speak of new inventory from new housing starts. Mortgage interest rates are historically low and are doomed to rise significantly. We have a lot of ARM resets to get through this year and next, maybe 2012 as well.
When do you expect the carnage in RE to end and a weak recovery begin? Before 2015?
But the trick is to manipulate the numbers so that the official unemployment rate goes down anyway.
I maintain that we are in a depression. A depression takes a long time to unwind as the deleveraging process creeps along. You can’t tell a depression when you are in it, only in hindsight, but the signs indicated to me that we are in a depression.
My only question is if the MASSIVE new Federal debt spending enough to create some new bubble that puts the heart of the depression off until some years from now, rather than continuing through it now. I know the government is trying to put the depression off, I just have no clue if they will succeed, so I will give them credit for the possibility of putting it off, and of course making it far worse with the new added MASSIVE debt.
I’m convinced we are in a depression and unemployment will only go up from here, and drag out longer while the economy stagnates.
The Socialist in Chief who is implementing Soros’s vision from the Clinton years hasn’t won yet.
There is going to be a massive backlash in this year’s election with likely another big backlash in Nov. 2012.
Obama will be blamed for this economy, even though it is 30 or more years worth of built up debt in the making. Obama is certainly making things MUCH worse with his MASSIVE deficit spending, and misallocated stimulus spending he is shovelling to SEIU, ACORN and their members and supporters. Wealth distribution on a MASSIVE SCALE.
But he will be blamed for this economy 100% and the voters will punish the Democrats soundly both this year and in 2012.
No, the Commie in Chief hasn’t beat the USA yet. It is up to a fired-up freedom-loving electorate to sweep his party from power. Now if the smaller freedom-loving portion of the electorate doesn’t get fired-up enough to overturn the larger portion of entitlement-minded voters, then yes he will eventually win.
But he hasn’t beaten us yet. We’ve still got a chance to slow down the race toward communism.
Many RE markets are recovering and values have stabilized
Not only does Obama know exactly what he is doing, but he isn’t even in the driver’s seat. He is just a front man for the forces who tried to get this stuff done under Clinton’s reign of terror and lost when Clinton backed off after too any failures.
Now either Obama or his handlers have decided to go for it all on one massive throw of the dice, and let the chips fall where they may after the damage is done. They seem to be perfectly willing to accept an electoral bloodbath this year and in 2012, as long as they make a solid leap toward communism.
The caveat is that, when they swept from power in the backlash, they must be assuming the Republicans will do nothing to overturn the structural changes and laws they implement toward communism. I have to admit, they have a good chance using that assumption. The Republican track record is pretty dismal, of overturning the socialist laws and policies implemented by the Democrats when they are in power.
I have no confidence that the Pubbies will reverse health care, cap and tax, other global warming laws and restriction, lower taxes as needed, elminate the NEA (National Education Administration), reduce our involvement and $ contribution to the UN, clean house at BATFE, reverse the police state mentality evolving from the failed “war on drugs”. I expect them to drop the ball — again.
Where?
The economy won't recover for real until it is self sustaining. I know that unemployment is a "trailing indicator", but growth resulting from borrowing and printing to pay for unemployment benefits and temporary jobs won't hold up indefinitely. At some point we have to switch from borrowing money to pay for jobs to having jobs to pay back what we've borrowed, or we're only delaying an inevitable collapse.
“Snow may be the official reason, but I don’t buy it.”
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It’s global warming, see, climate warming causes more moisture in the air which results in more snow which keeps people at home so they can’t go out and apply for jobs that don’t exist, see. I think it’s called “snow jobs” or something like that or maybe it was no jobs, anyway it is all because of global warming. We all need to stop driving SUVS and eating beans or something like that.
I sympathize with your neighbor but I don’t understand. If he can’t pay his power bill how can he afford to run a gasoline powered generator?
Even in bad times there is turnover, some people are always leaving jobs so if the weather causes a delay in hiring replacements I suppose it could result in more unemployment.
agreed...
Unemployment numbers are always released on the first Friday of every month.
Usually early in the morning.
What is most absurd is the notion that snowstorms contributed to it.
Imagine. Snowstorms. In winter. Unprecedented and unexpected!
Oh yes, they are called RIFs.
That is exactly what I was trying to say. A severe economic contraction has to occur. We can take a bad one now or a worse one later. In their ignorance, the Obama policies seem to be pushing for “a worse one later.”
Released every Friday.
Blaming the numbers on storms strikes me as very strange. "On account of the storm, you're fired" (or layed-off) is not credible. Well, maybe for storms that cause lots of damage, for example Katrina.
If any other professional, or group of professionals, hired by you or me, neglected to deal with the urgency of an acute matter (jobs) their attention requires, and indeed spent all of their time trying to advise us about issues of minimal concern and urgency(healthcare) ..at the very least the would be fired, and their fees with-held. Possible malpractice claims might be made.
Just sayin’
I suspect he can afford his mortgage (just barely). I also suspect that the mortgage payment (roof over head) is more important.
Also, it is probably a bit cheaper to fill a generator once a day than it is to pay the electric company.
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