Poor Obama. He can't catch a break. He had this shit dumped in his lap on day one and has been fighting an uphill battle ever since. Between the Republicans and the Europeans, we could really slow down, and Obama will get the blame. I don't want it to be like that in the fall.

rut roh may equal romney noooooooooooooo

I'm worried it is only the beginning.

and how long will it go on?

Terrible if it reaches a fever pitch right before the elections.

if this thing gets up a head of steam as Greece drops out and others may soon follow, things could get really shitty regardless of who is in the white house or congress...

sP

and I believe an Obama win IS CRITICAL to recovering from whatever mainly repuke inspired disaster is happening

and I am hoping this will not be it. I read this here earlier.
http://www.therepublic.com/view/story/bc23b08be720499db96e60bfa2323228/US--Global-Economy-Vital-Signs
It looks like a global mess. It seems to me they are like the kid with his finger in the dike while leaks open up everywhere. I don't know how it can be fixed. It just seems to me that it is a matter of time before it all goes belly up unless someone can get a grip on it. I have just been pessimistic the past year watching Europe.

But instead kept the same assholes who orchestrated it in positions of power....

Yeah, it's gonna happen again, and this time it will be MUCH worse.

Still, unless Congress and the White House reach an agreement by year's end, federal taxes will jump and deep spending cuts will kick in. Should that happen, the Congressional Budget Office says, the economy would likely fall into another recession.

Given the size of the U.S. economy, further weaknesses could worsen the slowdowns in European and Asian countries that depend on sales to American consumers.

— EUROPE

Unemployment in the 17 countries that use the euro is already at 11 percent, the European Union's Eurostat office reported Friday. It's the highest rate since the euro was introduced in 1999.

European countries have been struggling with their debt crisis for three years. Three nations — Greece, Ireland and Portugal — have already required bailouts because of unsustainable levels of debt.

Austerity has been the main prescription for the crisis. But spending cuts and tax hikes are causing economies to shrink across the eurozone.

In a blunt warning, European Central Bank chief Mario Draghi last week called the euro currency union "unsustainable" without stronger political and financial ties among eurozone countries.

The fear is that Greece will drop the euro, and other weak countries, such as Spain and Portugal, will be forced to follow. Financial chaos could rage across Europe.

Spain is facing punishing borrowing costs on bond markets because investors fear it won't be able to pay its debts. Prime Minister Mariano Rajoy declared Saturday that his government will stick with harsh austerity measures as long as necessary.

But Spain's unemployment is already 24.4 percent. For those under age 25, unemployment is 51.5 percent. Businesses are being crushed.

are all getting murdered this morning...down almost 3% each. the only silver lining in this (if you can find one) is the oil and gasoline prices will continue to drop. RBOB is down to $2.62 per gallon...

sP

They failed to realize oil prices are acting as a early indicator of global economic activity. Just like in 2008-2009, a sharply lower price on oil is an indication we're entering a recession/depression.

Of course, since oil production and export globally has flatlined, sustained economic recovery spikes oil prices until they drag the economy back into recession as well.

We're in a no-win situation, and it's unclear how we break the cycle short of a multi-trillion dollar build-out of renewables in the midst of a global depression.

The sort of thing that gets you stocking the bombshelter.

and strangely, being a repuke/libertarian vibe, they did some good reporting on Fukushima

I knew a few in the comparatively stable (it's all relative) 80s and 90s. They were all nervous wrecks. One of my B-i-L's colleagues shot himself after a deal gone bad. My B-i-L read the writing on the wall and moved to another area of banking.

I can't imagine what money dealers go through every day. It's like being in the Tower of Terror on Groundhog Day.