News Flash: Economy NOT Headed for Recession

[UrbScotty]

With political melodramas and tragic ironies taking to new heights this week with the Secessionist Mr. Rick Perry accusing the chairman of the Federal Reserve of committing treason, and just as President Obama is in the middle of this three day rural jobs tour, news comes to show that in fact, despite a Wall Street, Right Wing, and Professional Left freakout last week, the economy is actually recovering, not headed for another recession.

As the crisis in Japan began to ease, American industrial output surged in July, driven by motor vehicle productions, gaining at nearly double the rate expected. Along with that, the decline in building new housing actually eased last month:

Read the entire article here.

My family and I have borne the brunt of the Bush Recession. We trust Obama to do the right thing and hope things will get better soon.

[mdmc]

1. lol

.. doing the right thing! lol

[ixion]

2. You're right. We're not headed for...

We're IN a depression.

[OhioChick]

20. We sure as hell are. n/t

[peace frog]

3. Newsflash: We never left the last economic recession of 2008

so you are correct that the economy is not headed for recession.

[JoePhilly]

16. You should learn the definition of that term.

I don't think it means what you think it means.

[peace frog]

19. Thanks for the edifying lecture

I don't think it means what you think it means.

[Pholus]

4. Well I guess we'll see. Hope you're right.

[leveymg]

5. Some still haven't gotten past that first stage in the steps toward dealing with disaster: denial

Kübler-Ross:

1. Denial — "I feel fine."; "This can't be happening, not to me."
Denial is usually only a temporary defense for the individual. This feeling is generally replaced with heightened awareness of possessions and individuals that will be left behind after death.
2. Anger — "Why me? It's not fair!"; "How can this happen to me?"; '"Who is to blame?"
Once in the second stage, the individual recognizes that denial cannot continue. Because of anger, the person is very difficult to care for due to misplaced feelings of rage and envy.
3. Bargaining (Compromise) — "I'll do anything for a few more years."; "I will give my life savings if..."
The third stage involves the hope that the individual can somehow postpone or delay death. Usually, the negotiation for an extended life is made with a higher power in exchange for a reformed lifestyle. Psychologically, the individual is saying, "I understand I will die, but if I could just do something to buy more time..."
4. Depression — "I'm so sad, why bother with anything?"; "I'm going to die... What's the point?"; "I miss my loved one, why go on?"
During the fourth stage, the dying person begins to understand the certainty of death. Because of this, the individual may become silent, refuse visitors and spend much of the time crying and grieving. This process allows the dying person to disconnect from things of love and affection. It is not recommended to attempt to cheer up an individual who is in this stage. It is an important time for grieving that must be processed.
5. Acceptance — "It's going to be okay."; "I can't fight it, I may as well prepare for it."
In this last stage, the individual begins to come to terms with her/his mortality or that of a loved one.

[MessiahRp]

24. This is the MO for this poster.

This poster argued in the Michigan forum that the Michigan Democratic Party shouldn't be helping with or fighting for Rick Snyder's recall. They also argued that Obama was the best President of our lifetime.

These apologists don't want to fight for anything and are content with letting Obama (because he has dedicated himself so fully to him) roll over every single Democratic ideal we spent seven decades defending.

Rp

[AnneD]

6. Thanks ....

For giving me the best laugh I've had in a while. Obama is no FDR.

If you are pouring all your hope in him, he is a leaky vessel.

[xchrom]

7. hi anne! leaky indeed.

:hi:

[AnneD]

9. Hi xchrom....

When you pay attention to the numbers and follow the money, the truth comes out......

Have a good day, I have to head for work. Will post if I can. :hug:

[JoePhilly]

14. Obama would need to set up some internment camps to be more like FDR.

[GillesDeleuze]

23. and have a federal jobs program. or care about infrastructure.

or take a stand.

or grow a spine.

[JoePhilly]

28. What do you think the stimulus was?

Again ... FDR is just as dead as Reagan. The GOP can't have the mythical Reagan, and you aren't going to clone us the mythical FDR.

[AnneD]

30. While I know FDR ....

Is just as dead as Ronnie, I am talking about bold actions and tough negotiations. FDR once state that he welcomed WS hatred of him, none of this kumbaya crap. He even had Senators openly wanting him assassinated and was frequently called a traitor to his class among the wealthy. Democratic leadership is lacking.

[GillesDeleuze]

34. a bunch of tax cuts and a half-assed attempt something

rather than nothing.

its not about cloning, its about leadership. as it always has been.

[AnneD]

29. If they detain......

Banksters pending trial instead of Japanese...I'm ok with that:evilgrin:

Besides, I don't see Obama closing Guantanamo, and that was a campaign promise I do believe.

[fasttense]

8. I think people should wait until the historically high numbers of bankruptcies and foreclosures

are down to normal US levels before declaring the country is not in a recession or has recovered.

[Sedona]

10. Foreclosures have leveled off in Arizona

still a little higher than normal, but level now for 6-8 months.

[GillesDeleuze]

25. wasn't moody's predicting another 16-25% price drop?

[coalition_unwilling]

11. Unemployment rate when Obama took office: 7.6%. Unemployment rate

as of July, 2011: 9.1%.

IOW, the unemployment rate has INCREASED 1.5% (from 7.6 to 9.1%) since Obama took office.

Good luck sustaining the argument that we're not headed for a (double-dip) recession heading into 2012.

[JoePhilly]

17. Same prediction gets made each summer on DU ... wrong each time.

The unemployment rate also hit 10.2%, and has come down as low as 8.8%

It was 8.4% in Feb 2009, and 8.7% in March 2009, when the stimulus passed.

Seems Obama has turned things around in 2 years.

Sadly, we let the GOP retake the house in Jan 2011 ... and then the unemployment rate ticked up again ... big surprise.

[Odin2005]

12. Bullshit.

[Javaman]

13. clapping harder only makes your hands hurt. nt

[AnneD]

33. LOL....

:spray:

Good one!

[JoePhilly]

15. DU common wisdom has predicted a double dip each summer since

Obama became President.

And it drives those failed DU prognosticators crazy that it hasn't happened.

Thus most of the responses to your post.

[GillesDeleuze]

22. Um really? The market disagrees.

Negative yield curves, securities sell-offs. S&P down 19% since april.

Um really? Employment numbers disagree. Unemployment UP to 9.1% (official).

Um really? Global shipping indices disagree: http://www.investmenttools.com/futures/bdi_baltic_dry_index.htm

Um really? Where are the jobs.

whether or not economist declare a recession is pretty much irrelevant for anybody trying to find a job. 0 growth still isn't growth.

whether or not wall street rallies again is pretty much irrelevant to for anybody trying to find a job. Secondary market share prices dont translate into wages.

[JoePhilly]

27. How much is the DOW up since last summer?

Or the summer before?

What was unemployment, by month, since Obama took office. What was the high?

What are the job loss / gain figures for the same period?

What's the GDP been by quarter since Obama took office?

Look, you should feel free to pray for a double dip. But it isn't happening.

[AnneD]

31. The Dow is not the economy.....

Go sell crazy elsewhere, we are full up here. Besides even the Dow is not doing so great on average. :eyes:

[GillesDeleuze]

35. down another 500 today.

volatility aint a good thing either.

[Creideiki]

32. Don't forget CRE

I'm not 100% sure it will go into double-dip. Oddly, while "inflation" is still low, prices for basic goods are still going up. There's a reason why the Arab Spring happened. If food costs weren't the trigger, they're at least an exacerbating factor.

[Greybnk48]

18. Good news. Thank you.

[GillesDeleuze]

21. trust is foolishly placed.

[TK421]

26. whew, thanks! I was really beginning to worry..