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DonGlock26
07-27-2012, 10:32
U.S. Economy: 17 Reasons Why A Recession In 2012 Is Underway


http://etfdailynews.com/2012/07/27/u-s-economy-17-reasons-why-a-recession-in-2012-is-underway-indexsp-inx-spy-tza-faz-gld/



http://i279.photobucket.com/albums/kk157/AccioRecto/Obamafail.jpg


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wjv
07-27-2012, 11:30
In fact, we appear to be on the verge of yet another major downturn

Seriously, I believe this. Just looking around I see:

- higher food prices

- higher energy/gas prices

- home prices still in the gutter

- more people I know who are looking to cut spending by:
- - - dropping cable/dish
- - - dropping home phones
- - - not eating out
- - - not taking vacations or just taking "weekend vacations"

- Even maintenance on peoples homes appears to be cut back.

- more people expressing negative views about jobs/economy

I work in a professional environment (~150 engineers and scientist) and honestly I cannot remember when anyone here last bought a new car. Every year right after bonuses were paid, you would see 5-10 new cars in the parking lot. This year and last. . Zero new cars.

Wife and I went to Vegas last week for our 30th anniversary. Walking through some of the malls in the casinos we noticed that the stores were basically empty. A few people here and there stopping to look at something, but nobody was carrying shopping bags. Seemed like most people were doing what we were. . Just looking. .

Even the "main stream" media is starting to do articles about "unsustainable debt", "underwater homeowners", "reduced manufacturing". This week Yahoo had an article that asked if we should just let the economy "go over the cliff" and then pick up all the pieces.

If the "MSM" is willing to print these article during an election year where they want the incumbent to get re-elected, that is sort of scary!

brickboy240
07-27-2012, 11:33
Look at the unemployment and GDP numbers that just came out.

Pretty soon, big media will not be able to hide the bad economy or even utter the word "recovery."

-brickboy240

pugman
07-27-2012, 12:13
"underway"

Has this guy been in a coma the past 18 months?

The Machinist
07-27-2012, 12:22
manufacturing activity is dropping like a rock,
and a depressingly small percentage of businesses anticipate hiring more workers in the coming months.
As someone whose livelihood is intertwined in manufacturing, I can verify these statements. I'm an economics dummy, but I could see the writing on the wall several months ago.

rj1939
07-27-2012, 13:47
I suspect that in hindsight, this will be looked on as one continuous event (recession/depression) Historians like to oversimplify things.
The GD was not a continuous static event, there were minor recoveries that didn't last.

cowboy1964
07-27-2012, 14:45
It's not technically a recession until two quarters of negative growth. But regardless, you can tell which was this is going.

New car sales aren't terrible yet though. Compared to the last few years.

Breadman03
07-27-2012, 15:31
It's not technically a recession until two quarters of negative growth. But regardless, you can tell which was this is going.

New car sales aren't terrible yet though. Compared to the last few years.

So you could fudge the numbers to avoid meeting the definition. Say Jan goes down 5%, Feb up .1%, Mar down 5%.....

:supergrin:

I just wish I could hear one coherent, logical argument refuting the oncoming recession, and whether history will judge this a depression.

aircarver
07-27-2012, 16:28
Communism doesn't work.

.

callihan_44
07-27-2012, 18:55
my company has had a surge recently of customers buying from us like crazy, so the work is nice however during a converstation with some purchasing agents I was told that certain companies are re-stocking inventories now due to future cuts they might have to make because of obamacare costs.... I have a feeling we aint seen nothin yet