US staring at double-dip recession

US staring at double-dip recession as calls for higher interest rates grow

because quite a few of us told them they were taking the prime in exactly the wrong direction while tightening up liquidity, the opposite of what they should have done.

GOPs can't run an economy, period. Oh, they get away with it for a bit as a very few people who are in the right place at the right time with access to the right information get obscenely wealthy, but it always catches up to them---and us.

And as you say, some people made an OBSCENE amount of money on it. One of Greenspan's friends made in the neighborhood of $4 Billion on a "hunch" that the housing market was going to crash...and in return He offered Greenspan a job.

I can't make this stuff up...

And in the end, the people who engineered it will walk away unscathed- look at the California "Energy Crisis"- Cheney's still walking around going "So?"

would make doing business easier and ensure prosperity for all. I think they failed to foresee the fact that thieves rush in as soon as finance is deregulated. I think they failed to foresee what was happening during the S&L debacle, that it would be repeated until the industry got re regulated.

My own prejudice over the whole situation falls on the side of wildly incorrect dogma and absolutely stunning incompetence.

Face it, the thieves didn't do the deregulation that caused this, it was learned men who bought into the rehashed Hooverism from the Chicago School of Economics.

We said they were a bunch of deluded dumbfucks who would collapse the economy eventually, and so they have.

That's the excuse they like to use. They used it for 9/11, Katrina, Iraq and every place else...but when you follow the money, you find out that no "incompetence" was involved.

You don't see any of their people losing money, do you?

"With rare exception, any given Republican politician is simply practicing the world’s oldest profession under separate cover. Which means they’re no more attached to their professed ideology than a hooker is likely to fall in love with the fifteenth sweaty john of the night. They just want to win."

Love the hooker falling in love with the 15th sweaty john of the night description. If the condemn fits :shrug:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3442472

for skulduggery for those that have the dollars and inside info to screw up our economy, Again. Reaganomics comes to mind - only worse. It appeared to be a false economy with rates that low for so long.

Edit: poor typing

And still get away with it.

They said. Finally, for the first time in 50 years, we have republicans controlling the white house, senate and house. Government will become nice and very small. There will be no deficit and economy will soar.

Boy, were they dreaming ...

A generation ago, 3.9% inflation was considered beautifully low. Nowadays, 2% is considered the "nominal anchor" and anything over 3% is considered "high."

As an econ student I understand why the central banks keep a close eye on inflation, but since this price surge is mostly caused by a supply shock, it may not be any cause for alarm.

That 3.9% inflation is only accurate if you think having a delay timer on your washer is worth an extra $150 when you buy it. Yeah inflation is really low, (if you don't bother with real math) now lets get those cost of living adjustments out to social security recipients and federal retirees.

And as John Williams says:

"Inflation, as reported by the Consumer Price Index (CPI) is understated by roughly 7% per year. This is due to recent redefinitions of the series as well as to flawed methodologies, particularly adjustments to price measures for quality changes."

"The Pollyannas on Wall Street like to play games with the CPI, too. The concept of looking at the "core" rate of inflation-net of food and energy-was developed as a way of removing short-term (as in a month or two) volatility from inflation when energy and/or food prices turned volatile. Since food and energy account for about 23% of consumer spending (as weighted in the CPI), however, related inflation cannot be ignored for long. Nonetheless, it is common to hear financial pundits cite annual "core" inflation as a way of showing how contained inflation is. Such comments are moronic and such commentators are due the appropriate respect."

http://www.shadowstats.com/article/56