Not a good day for economic news...

[whell]

"Stocks suffered their worst day of the year, with the Dow tumbling into negative territory for 2012, after a disappointing jobs report in addition to dismal data from China and Europe fueled fears over the health of the global economy."

"The U.S. added just 69,000 new jobs in May while the unemployment rate grew to 8.2 percent..."

"It's painfully obvious the economic recovery in the U.S. isn't just slowing down, it's pulling up the emergency brake," said Todd Schoenberger, managing principal The BlackBay Group."

"We think it is increasingly likely the Fed will announce another round of QE at the Aug. 1 or Sept. 13 meeting," Michelle Meyer, senior economist at Bank of America Merrill Lynch, told clients in a note. "The Fed will not sit idle as the economy slows."

http://www.cnbc.com/id/47645265

Evidence that the "dreaded double-dip" is under way?

[BlueStreak]

I've heard the GOP is fighting hard to tank the economy before election day.

Don't know how true it is, but it wouldn't surprise me at all.

[Dondilion]

Originally Posted by BlueStreak

I've heard the GOP is fighting hard to tank the economy before election day.

Don't know how true it is, but it wouldn't surprise me at all.

Expected a better, more mature response from you.

I believe there is too much that is bad with Europe and that puts a huge brake on the world.

[BlueStreak]

Originally Posted by Dondilion

Expected a better, more mature response from you.

I believe there is too much that is bad with Europe and that puts a huge brake on the world.

I'm just relaying what I heard from some talking heads recently. But, it still wouldn't surprise me to find some truth in it.

(You did make any comment about Whells counter-allegation......)

You haven't notice the angry way they've been reacting to any suggestion of economic improvement, the last couple of years? Or the way they reacted to Obamas election, even long before he had any chance to put forth legislation or policy? I would call that immature and reactionary, to say the least.

Yes, there is the European situation, of course.

[whell]

Originally Posted by BlueStreak

I'm just relaying what I heard from some talking heads recently. But, it still wouldn't surprise me to find some truth in it.

(You did make any comment about Whells counter-allegation......)

You haven't notice the angry way they've been reacting to any suggestion of economic improvement, the last couple of years? Or the way they reacted to Obamas election, even long before he had any chance to put forth legislation or policy? I would call that immature and reactionary, to say the least.

Yes, there is the European situation, of course.

That's because there's not been much real, sustainable economic improvement. This month's data is just another example. The US banks are still too tight, businesses are still too uncertain and not making significant investments, and unemployment is still too high.

Add to that what appears to be a building economic slow down in China and buckling European financial markets, and you've got what some refer to as "echos of 2008" on the horizon, with Eurozone countries considering their own version of TARP:

http://www.cnbc.com/id/47639849

[BlueStreak]

Originally Posted by whell

That's because there's not been much real, sustainable economic improvement. This month's data is just another example. The US banks are still too tight, businesses are still too uncertain and not making significant investments, and unemployment is still too high.

Add to that what appears to be a building economic slow down in China and buckling European financial markets, and you've got what some refer to as "echos of 2008" on the horizon, with Eurozone countries considering their own version of TARP:

http://www.cnbc.com/id/47639849

And, there won't be either. Until we start putting money back in the pockets of consumers. And, who are "the consumers", Mike? Being unemployed is no help, being under-employed (compensated) is not much better.

Here, I'll tell ya what. Why don't we address this issue by encouraging business to get even leaner and meaner....lay off more people....give their boss a tax cut and then encourage him to rehire at lower wages let him crack the whip all he wants....And if the little people give him any shit...."Hey, screw'em, just take the work elsewhere, I don't blame ya. Maybe Brazil, Uraguay or wherever.....Who cares? F**k the American worker, they're just machinery anyways, you can get a better deal elsewhere............."

Yeah, that'll make for a wonderful, prosperous and peaceful future.

What do you do when you've given them everything.....tax cuts, bailouts, deregulation, union free environments...and it STILL isn't enough?

That's what I want to know.

Although, I hope I don't live long enough to find out. 'Cuz I have a strong suspicion it's going to suck pretty bad for most people.

[noonereal]

Originally Posted by Dondilion

Expected a better, more mature response from you.

I believe there is too much that is bad with Europe and that puts a huge brake on the world.

Come on dude, you know damned well that the GOP no longer puts the country first and is fighting hard to tank the economy before election day.

Posting sanctimonious crap here does not change fact.

[Dondilion]

Originally Posted by noonereal

Come on dude, you know damned well that the GOP no longer puts the country first and is fighting hard to tank the economy before election day.

Posting sanctimonious crap here does not change fact.

GOP noise makers yes, but in general capitalists want to make money, to get richer! I do not believe American capitalists have any great fear of O to the point where they would collectively tank the economy.

Europe has been sick for too long. This has created great caution world wide.
Hence the economic sputter.

[noonereal]

Originally Posted by Dondilion

GOP noise makers yes, but in general capitalists want to make money, to get richer! I do not believe American capitalists have any great fear of O to the point where they would collectively tank the economy.

Europe has been sick for too long. This has created great caution world wide.
Hence the economic sputter.

Dave's answer stated that the GOP not capitalists would keep the economy down. This opinion refers to capitalists, business folks.

What is your opinion on the GOP, the politicians?

[bobabode]

[QUOTE=Dondilion;105273]GOP noise makers yes, but in general capitalists want to make money, to get richer! I do not believe American capitalists have any great fear of O to the point where they would collectively tank the economy.
QUOTE]

Respectfully, I think you might be off the mark. The capitalist true believer's are extremely afraid of the President gaining a second term. The handwriting is on the wall. No more laissez fair regulation of these dyed in the wool buccanners come a second term. The biggest sign of their fear was pulling the Citizens United escapade. That will go down in the history books like the Teapot Dome, Tamanny and Jay Gould. It is such a bald faced power grab that I am friggin' amazed that there aren't people of all political stripes marching on the Capitol and demanding an amendment. Not to mention an impeachment of the five justices who voted it in. Malfeasance in office really isn't too strong term for Robert's actions.

The point is that they are actively dragging down the numbers while campaigning hot and heavy to bounce the President out of office. Tank is a misused word in reality. They are sitting fat and pretty and to them after all it's just paper. If they achieve buying the election you will be seeing something that has not been visited on this country since the Gilded Age. The Gilded Age was as bad as it sounds good.....Shiney it was not for the majority of citizens.