Posted on 03/28/2010 5:43:31 PM PDT by arthurus
One of the most interesting terms to come out of the past two years is the ‘double dip recession’. This is Newspeak for depression as far as I am concerned, but it fits with the new nomenclature we have used in an attempt to paint a crisis as not really being one. After all, what fun is it to admit that we’re in a morass that we have no hope of getting out of, or even a cogent, sensible plan for exiting? It is much easier to conjure up new terms in an attempt to move the boundaries into more palatable territory. This week, in the wake of the biggest nation-killing bill to pass out of the halls of Congress to date, I’m going to tell you exactly why we are now guaranteed a second dip (to use the nomenclature du jour), and how this is going to hit small businesses, which are the backbone of the real economy.
(Excerpt) Read more at seekingalpha.com ...
I think this “recession” has to end before we can see another one. Unfortunately for the “double dip” crowd, this one is going to be around for a while. A long while.
I don’t think the CBO counted all these second-order costs. We’re in deep doo-doo.
Well I’m calling it what it is, a depression and it’s going to be around for a long time with the clown we have in office...
Congress has just increased the cost of employing someone. Like Europe, business will do now its best to keep their workforce very low. Also like Europe, we will be creating a permanent class of unemployed, probably 10-15% at all times. This means also the US will have a larger, more permanent welfare class as well. Furthermore, NO ONE will hire young people. It will just make no economic sense to do so
When are we going to start calling it by its right name: the Obama Recession/Depression.
The bond market will determine whether or not any of this is going to work. We no longer have a $14T+ economy. The government spending is keeping us afloat for now. The government’s ability to borrow is the key factor. It is not sustainable.
Pretty soon we will be calling it the Obama hyperinflation. (Unless you’re aligned with the MSM. Then it will be the Bush hyperinflation.)
bookmark
I read that Berkshire Hathaway was able to sell bonds more cheaply than the government last week, which was the first time a private entity had a better credit rating on the market than the government.
That is probably the first indication that the cheap loans to the fed are coming to a close.
That’s why I had “recession” in quotes. Looks like the beginning of a depression to me also.
Few are hiring young people already.
The unemployment rate for high school kids is more than 70%.
New healthcare requirements just make it worse, if it wasn’t bad enough with the recent increases in minimum wage.
The “solution” that will be proposed, “jobs programs” for teenagers is very bad. When I was a kid in the 70s in the inner city, I was in a jobs program for a couple of months. Nothing was accomplished, no useful work was done, little was expected and the only benefit was a paycheck and employment for the facilitators. The facilitator- a high school teacher- was petulent when I quit to do useful work in a kitchen of a greasy spoon.
This kind of jobs program really doesn’t help the kids get good work habits, I think I was lucky to leave.
God how I wish it wasn’t so..With no talent in the White House it’s going to be bad.
CETA
I remember it well.
Bam just signed off on a depression IMHO. They will scramble for the next 6 months to keep the economy afloat until the elections. The Demos believe if they can do this when Jan, 2011 rolls around the MSM will help them blame the electorate for the lousy economy.
Things will get a whole lot worse before they get much better ....
schu
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