Posted on 04/21/2011 3:16:39 PM PDT by Perdogg
The combination of rising gasoline prices and the steepest increase in the cost of food in a generation is threatening to push the US economy into a recession, according to Craig Johnson, president of Customer Growth Partners.
(Excerpt) Read more at cnbc.com ...
If it was just a matter of everyone spending a buck a day more for gas, and a buck a day more for groceries, then the impact wouldn't be so bad for most. But spiraling energy prices affect everything that needs to be delivered. And a lot of businesses will fold their tents, and a lot of jobs will be lost. Most economists say there will be no "double dip," and that unemployment rates will continue to fall (albeit slowly, and from a very high rate). I'm not so sure about that.
I needed a CNBC talking head to tell me this? WHat’s their next tip, buy Apple? /s/
I can top that. I've had to switch to domestic caviar.
“...combination of rising gasoline prices and the steepest increase in the cost of food in a generation is threatening to push the US economy into a recession...”
What?? why didn’t someone wake me up when we got out of the first one. s/
However...they’ll have to pry my Bali shoes from my cold dead fingers.....
A man has to have standards.....
Yes it has skipped right over DEPRESSION right to collapse.
But the jet setter Obama’s and all of the congress and senate don’t care how much petro is. Obama lives like a king with servants he does not pay the piggly wiggly bill,we do.
Can we get fries with this Killer Combo?
If we do collapse like Argentina, there is one other very important difference (other than obvious differences in culture): when Argentina collapsed, there were still viable economies nearby, and a fully functioning world economy. This meant that products could be gotten, there were other currencies that had value, and industry still had somewhere to sell.
If the US collapses, the world does too. Europe is a zombie, China is the ultimate bubble, with masses of people living in poverty, and Japan is toast. There will be no outside economy of any substance.
IMO, this means that an Argentina-style collapse would be infinitely more disastrous than it was for Argentina.
Well, metaphorically and subjectively, we are at homemade bubble bath in a lukewarm tub for relaxation and entertainment. The only place downhill from here is staying in a Chinese home/work cubicle.
And we are actually doing pretty well for these parts....any questions?
You make some very good points. The world is going to miss the United States.
Well, he certainly contributed to it. There isn’t much difference between the Republicans and the Democrats, because the American people want more spending and big government. We have gotten the government that the majority wanted. Even with the massive debt, people still want more government $ for themselves.
“Government is the great fiction, through which everybody endeavors to live at the expense of everybody else.” Frederic Bastiat
When do we start drinking to forget?
“When do we start drinking to forget?”
You’ve got about 2 year’s worth of catching up to do.
Correct. If the US goes down the way Argentina went down, then most of the world will hit the wall about 100 msec behind us.
The theories on “decoupling” in the last 10 years have proven to be pure twaddle. Especially when the web of interdependencies in the banking system came to light.
Obama is responsible for all of this (although he is still blaming Bush.)
Obama hates America. He’s not one of us. He is trying to break the spirit of the American people.
He’s in for some big surprises.
LMAO, /burp
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