Stagflation, anyone? THE SLOWDOWN HAS BEGUN

[LittleApple81]

Stagflation, anyone? The slowdown has begun

All those bits of bad or mediocre economic and corporate news are not a coincidence. This isn't just a hitch in a recovery.
By Bill Fleckenstein

Stock bulls are sanguine and consumers are even more sanguine, at least if we are to believe the latest government-calculated consumer-confidence number. The feel-good mood is based on the belief that the economy is now firmly on the path of a self-sustaining recovery. My belief, however, is that we are starting a post-stimulus slowdown.

What might get folks to readjust their perception? Earnings weakness or economic data that buttress this point. The first few days of July arguably saw the beginning of that trend:

The June employment number was far weaker than expected; only 112,000 jobs were added compared with expectations of 250,000 jobs. (I'll have more to say about this next week.) In addition, results for April and May were revised downward by 35,000 jobs.

General Motors (GM, news, msgs) reported its June sales down about 15%, after Ford (F, news, msgs) stated that its numbers were down about 7%. (Those were the headline figures. When you get done slicing and dicing the numbers, they reported the declines about four different ways.) Suffice to say, those sales were worse than expected and, unequivocally, signs of weakness.
more at link: (MSN calls him a "contrarian")
http://moneycentral.msn.com/content/P85427.asp?GT1=4244

[NC_Nurse]

1. I've been feeling like there was something

fishy about this big "recovery" they keep talking about. I sure haven't seen any of it. I've had to cut my budget considerably, and I know most of my friends are barely making it. They're still laying off folks periodically from the big RTP companies too.

I think it's all Bushit personally. At least the rich are having a good year.:-(

[SEpatriot]

2. Sounds kinda like the Bush recovery of '92

Smoke and mirrors, a lot of window dressing and no real help for anyone who needs it. It's all falling apart for Bushco...so now there's a terror alert!:eyes:

[Name removed]

3. Deleted message

Message removed by moderator. Click here to review the message board rules.

[LittleApple81]

4. Government issued statistics under Bush??? veracity 0. Lies always.n/t

[Kathy in Cambridge]

5. There are many other factors aside from the one you pointed out

you do understand basic economics, don't you? :eyes:

[Veggie Meathead]

6. This is the result of policies that have decimated the middle

and lower income classes whose purchasing power is now down to nothing.What is worse is that as their jobs go to China and India their outlook for the future is poor as well.Tell me how anybody is going to be able to take out a loan for four,five or six years for a car if they are afraid their jobs won't be there?

Our standard of living is on death support and if these crooks get back into power, it will be time to pull the plug.