We. Are. Screwed.
Duncan Black (i think) is an economist by training although his blog has wide ranging interests.
Just scroll down his front page today, skim some of the posts, and let me know if you agree that we are so f’ing screwed.
My friends – it is not hyperbole, or mere Bush bashing to say that Bush fucked us over but good.
on a micro level. I’m screwed so…you know what that means? you are screwed
so yes, I think we all are screwed.
the credit mess still has not resolved itself. we are a service economy now, so the rest of the world has to stop making the shit we buy…that is happening now…we have a long way to go.
where is not brian on this issue!
Trading stocks every day like I have keeps me knee deep in this data everyday, and I sincerly recommened to my friends to get the hell out of this country as soon as you are able, it is that bad, I spend most of the time on Dow jones market watch and if you go over there and spend a little time reading the threads written by economists investors and day traders you will get a better idea of the train wreak we are headed for.
By the way, the most worrisome item is the 10% drop in retail sales, that is accelerating, and no matter what you do for a living or where you work I guarentee I can connect the dots and show you how that`s going to cost you your job and put you in a government workcamp.
Super!
Just a quick suggestion for anyone interested. It`s a great time to study the cause and effect of the last great depression, It`s far deeper and more complex than just the 1929 stock market crash , that was only a sympton not the whole story. The factors at work then are in play now, somethings like lower consumer spending and joblosses are interdependent and are headed for critical mass, where they cause each other to rise and fall. the research will help you prepare for the worst.
“…I guarentee I can connect the dots and show you how that`s going to cost you your job and put you in a government workcamp.’
Fuck that, Mr. Doom & Gloom. I have HOPE, so I’m holding out for a high ranking position in Obama’s “Civilian National Security Force”. I already have my application in. I’m thinking *Gen. Miscreant*, at least. I like the sound of that.
Miscreant; you think I`m doom and gloom cruise some economic blogs, like clusterfuck nation, the big picture, Paul Krugman`s blog and so on .
Can I put in a request to be the general`s valet Sir? That`s usually a pretty good job.
The wingnuts love their Mad Maxx fantasies.
RAY K –
Where are you putting your money?
Still hanging on, making stuff, paying my employees, so far.
I weathered going out of business (two at once), divorce, foreclosure and a lot of crap that is unmentionable in the mid-80s during the S&L debacle in OKLA, where all the banks but one failed in our 3rd biggest city in the state. That era was not hardly felt here, unlike there.
This may be worse, but I am keeping husband #2, no matter what. And the basset hound.
Sigh.
What about the idea that the Bushies are the Manchurian regime? The used up ALL the gov’t, economy, treasury, national parks, air & water and are going to shoot the beast to put it out of its misery on the way out the door??
F***ers.
Jason; The markets been bouncing so I`ve been both short and long. A couple of long plays I`m letting run areDLTR, dollar tree, In some states they sell wine for a dollar, good fit for hard times, and DBA which is an ETF that tracks grain prices, they look about ready to end their deflationary slide and start back up. Shorts I have szk, shorts consumer goods, RRZ, shorts the russell 200, EEV, shorts emerging markets. What I`ve been doing is watching for a big selloff, then I sell my longs and let the shorts run up, and vis-versa on rally days, commissions are cheap so this stratage works well, but I literally watch the market all day every day.
The bulk of my savings is on the sidelines, some in kuggerands, and some under the mattress, not letting much sit in the bank, 24th bank failure this year was just annonced a few minutes ago.
Jason; p. s. I trade put and call options but don`t go there unless you have done it before.
Jason; p. s. I trade put and call options but don`t go there unless you have done it before.
I guess in my job that I have the opportunity to observe what’s happening in the economy because we supply raw materials. From what I’m seeing – things are bad, really bad. Most of our plants are idle and the ones that are running are running at highly reduced rates. It’s very, very scary right now and none of us feel very secure. We already have a layoff coming and no one feels confident that this is the end of it.
So, I guess it’s an appropriate time to revisit this interesting Depression-era recipe: chemical apple pie. There are absolutely no apples in it.
Be a good time if your reading this to jump over to clusterfuck nation and read his current post, you will have to google it my lap top is not letting me do links tonight.
Bottom line what`s happening is the average worker is being asked to accept service sector low wages while still paying manufacturing high wage basic expences, and it`s not going to work.
Hoover = Buussh! Forget the stats on unemployment the guvmint is putting out. Its not 6.9% its 16,9% right now. RayK. what is that site you go on…marketwatch.blog? I went there last night and was shocked at what I read, but of course emails coming from Europe are basically saying the same thing. England appears to be even worse than we are right now. Prime Minister Gordon Brown actually stated , “he believes we are ready for the New World Order”? Brits are going wild. The unemployment is sky high, banks not loaning any money. Graham Jukes says that Brits are furious because London bought up that toxic mortgage crap which is causing their economy to go down even faster than the US. We are going to be hated even more for this crap. Republicans are the Hoover Party, we can not listen to any of their advice. Neo Hooverism is what Shelby, Kantor , Gingrich and the last of the neo cons are being called.
Stabenow says our only chance is with Prez Bush! Can you believe that. Bush must be worried his already dastardly record will also be attributed to the 3million walking the streets, hence, the worst depression ever, if he doesn’t act.
Liz, watching Rachel now, too. (Stabenow appeared on TRMS, catch it at the repeat at 11 or download video podcast off iTunes or MSNBC)
I have been a huge fan of Rachel since April 1, 2004 on her first show on Air America, Unfiltered. She still has an hour of radio unique from the TVmachine, at 6 pm on http://airamerica.com/ .