Posted on 08/02/2010 2:43:41 PM PDT by blam
Small Business Optimism PLUNGES: Firms See Lower Spending And More Layoffs Ahead
Joe Weisenthal
Aug. 2, 2010, 5:28 PM
Image: Gallup
The latest Wells Fargo/Gallup small business survey is out and it's UGLY.
In keeping with other indications that the state of small business is very bad, the survey indicates a level of pessimism about future results that's worse even that during the worst of the crisis.
What's more, small firms seem lower spending, lower cash flows, and lower headcount in the future.
As you click through the service, think of the contrast with the upbeat earnings and outlooks you've seen from the S&P 500 this quarter.
Click here to see the charts >
[snip]
(Excerpt) Read more at businessinsider.com ...
Too late. Got Obamacare?
Obama’s fault. 100%
Good Question!
The answer is, not until after November elections when the Republicans have the majority.
Then of coarse the media will begin beating that drum.
Democrat ‘tinkle’ down economics.
No, he’s planning to eliminate the middle class.
Without cutting social programs and minimizing the cost of government, we're screwed. There's no way out. Deflation is on the horizon.
We'll see a little "comfort" for a few months, but government money is the only thing keeping things alive right now - and they've wasted most of it. Because of that, the private sector doesn't have any, either. They've leeched the country dry.
It's about to turn really, really ugly. When those freebies aren't available for the freeloaders - watch out.
Well, Bernanke said that ‘technically’ the recession is over. So much for the ‘Bush Recession’, I guess.
Although we’d like to see more conservatives elected in November, I think the ‘change’ would be dangerous. The ‘dumb masses’ will be convinced when TSHTF that those recently elected are responsible. (especially since Bernanke said the recession is technically over)
“Well, Bernanke said that ‘technically’ the recession is over. So much for the ‘Bush Recession’, I guess.”
The BushRecession is over.
The ObamaDebt remains.
Apparently, the vast majority of small businesses have forgotten that this is the “summer of recovery”....../s =.=
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The idea of a depression, certainly of a double dip recession, is emerging in the minds of a wider number of people in the middle class. The disconnect between the media’s cheer-leading and the job market reality is growing wider.
There is another economic threat looming that gets little attention outside of a few focused websites, however, and that is the cost of energy. Just 12 years ago, crude oil hovered just above $10 a barrel, and the talk was about a world of cheap, plentiful energy just over the horizon. Never mind the $147 a barrel spike; the real news is that crude oil is hanging around the $75 a barrel range, not enough to crash the economy but more than enough to maintain an intense and prolonged recession.
Moreover, the deep ocean drilling, tar sand exploration, and talk of shale gas make plain the reality that the age of cheap fossil fuel energy is coming to a close. Our fixed rate gas tax buys only a third of the asphalt it did ten years ago. Expanding the highway system is no longer an option for most states, as road departments struggle to maintain what they have. In several states county road departments are taking up asphalt and replacing it with gravel.
A forty thousand dollar electric car is not going to change our energy problems, in part because few people can get a car loan. Even if they could, it would take 20 years to change over a significant part of our vehicle fleet. Electricity still needs oil, coal, or nuclear power sources in most parts of the country. All those unconventional oil sources (tar sands, polar oil, oil shales) and alternative energy sources like wind or solar remain very small parts of our energy reserves, and each has significant impediments to growth.
We have some serious problems, folks.
From that link: “The only big loser of the day was the US Dollar, but then, that’s to be expected, when literally everything else is going up.”
But...but...but...I thought our savior Obama brought everyone back from the “brink”....?
Not if they stick to strict conservative values. Every working person in America will be on their side. If they take the side of the people against Oboma loud and clear, it'll be America vs. Oboma. They MUST stick to conservative ideas. Major conservative ideas. If not, they hang themselves and take the whole country down with them.
I sincerely hope the dumba$$ republicans realize how serious this really is.
“We have some serious problems, folks.”
Yes, we do, and thanks for a succinct and factual outline of some of the major factors that will contribute to our problems.
I have an idea!
Why don’t all you GOP establishment sycophants go to work for me for free and help me pay my bills?
It’s perfect!
At least you will see clearly who is out to shackle your dumb *ss, right?
If you don’t work for me, then the RINO’s will put you to work for them. It’s your choice, but I’m a lot more kind and gentle than RINO’s, trust me.
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The losses will continue until morale improves.