I am so sick of the stupid crap about the economy showing up on the rec list.
Yeah so the fuck what if we show piss-ant growth for one quarter? There were quarters of growth in the 80's recession and then we sank back into recession. Then more growth quarters, then more recession...
Japan is reporting record deflation. China's stock market has crashed in the past few weeks. Bank failures are increasing, see below. Unemployment benefits are about to run out on tens of thousands (hello soup lines). The jobs market isn't expected to recovery until 2011 and that is if the rosy prognosticators are right. And even if they are right, his will NOT be a goddamned V recovery.
I am sick of this stupid shit. When we're trying to hold the bankers accountable, we get these econ diarists trying SO HARD to convince us that the status quo is returning. No. It's. Not.
Despite signs of an improving economy, the nation's banks are still struggling — in fact, the pace of bank failures has accelerated.
What would it take to turn the banking sector around? And what can people do to protect their savings in the meantime?
With unemployment peaking in late 2010 or 2011, do you crack smokers on the rec list really think we're going to see a V recession? What the fuck is your motive? I mean seriously. These are just straight up lies.
Some analysts believe another 100 to 300 banks could fail before the crisis runs its course, largely because of souring loans for commercial real estate. The number of institutions on the FDIC's internal "problem list" — those rated by examiners as having very low capital cushions against risk and other deficiencies — jumped to 416 at the end of June from 305 in the first quarter, the agency reported Thursday.
http://news.yahoo.com/...
My bold. What is causing the commercial real estate failures? Because the economy is still melting down?
Everyone that has a brain knows... KNOWS... that all those nice upticks in the charts ARE BECAUSE OF UNPRECEDENTED STIMULUS.
Once the stimulus runs out, and it will, we will be right back in the same shitty economy.
I wish it was otherwise. I wish that there would be lending to businesses in two, three, four years.
Japanese core consumer prices fell at the fastest annual pace on record in July, potentially putting pressure on a reluctant Bank of Japan to rein in deepening deflation.
http://www.rte.ie/...
Why isn't that in NDD's flowery diary?
I wish to God that the cheerleaders were right.
So when the benchmark Shanghai Composite Index tumbled as much as 20 percent over the last three weeks, investors took notice, driving down the price of commodities such as copper and soybeans and stock markets around the world.
The worry was that if investors in China — the strongest major economy through the slowdown — were dumping shares and losing confidence, then prospects for other markets and economies were dim.
Among investors in the U.S. and Europe, "there's a growing belief that the Chinese stock market is a barometer of global growth," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.
http://www.google.com/...
Why isn't that mentioned?
So much for Daily Kos being the "reality based community."