Majority of public believes U.S. is in a recession.
By on Dec 11th, 2007 at 5:30 pm
Majority of public believes U.S. is in a recession.
According to a new CNN poll, 57 percent of the public believes the United States “is in a recession. … That number is up significantly from the October survey, when only 46 percent believed the U.S. economy was in recession.”
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Economically and politically.
December 11th, 2007 at 5:32 pmWell, strictly speaking, the majority is wrong. The economy is still expanding but at a very sluggish pace. What this poll really illustrates is how difficult most Americans are finding it to make ends meet. In other words, it’s a good illustration of how BushCo policies benefit the very wealthy and hurt the middle class and working poor.
December 11th, 2007 at 5:37 pmCNN taught me that. And if we are really in a recession, why is everyone so fat?
Comment by Southern Man
Great! it seems you are capable of learning. who would’ve thunk it given your posts here.
December 11th, 2007 at 5:46 pmTomatoes 1.65 each…it’s gonna get worse, much worse, unbelievably worse. Millions without jobs, housing or food. The price of oil and other countries dropping the dollar are going to come home to roost pretty soon, keep you camping gear and gardening tools, you are gonna need it.
Bush/Cheney/Southern man
Hague Trials ‘09
Buck Fush
December 11th, 2007 at 5:47 pm3 - thanks for the “Larry the Cable Guy” assessment. Seriously.
The majority of us think we’re on the wrong track, and have the wrong kind of leadership and priorities.
You don’t have to agree, or like it, but it is what it is, and voters are going to show the GOP how grateful they are for it next fall.
December 11th, 2007 at 5:48 pm“And if we are really in a recession, why is everyone so fat?
Comment by Southern Man”
I know you don’t really want an honest answer to this query, but one of the reasons is that people who live in poor areas of our urban centers don’t easy access to healthy food choices, but they do have access to fast food, and to processed, over priced food in the small grocery stores of the ghetto.
December 11th, 2007 at 5:49 pmPolling people that believe the earth is flat doesn’t make it so. The only way to tell of recession is by the numbers and the numbers suggest we are doing very well this Christmas season.
December 11th, 2007 at 5:52 pmSure, we may think we’re in a recession but Bush knows we’re not. All his friends are doing great! Much, much better than they did under Clinton.
By the way, does anyone remember Bush campaigning in 2000, telling us the economy was in shambles? This at a time of budget surpluses and strong growth. That’s actually when Bush began to destroy our economy - by undermining public confidence in it. Everything he’s done since has just been more nails in the coffin.
December 11th, 2007 at 5:53 pmLocal store here..’Do not pay until 2010! (99% down?)…..what’s next..’Never pay,just come and get the junk.’
December 11th, 2007 at 5:55 pmre 8 yes.
I believe in market place of new ideas. we can come up with alternative fuels that will drive new industries. Yes, that may sound scary to those who are intrenched and invested in the existing power structure and market, and to those with no imagination, but suck it up whinyboy. you’re not a man, you’re not a captain and you’re a mast. You are a tick however.
December 11th, 2007 at 5:55 pmWhat’s a Recession? Is it something that cannot be cured by another war and/or a few judicious tax cuts and/or a prayer meeting held on the steps of the Capitol?
December 11th, 2007 at 5:57 pm“Apparently, you can’t have it both ways. Are you on the side of strengthen the economy or saving the planet?
Comment by CaptainMantastic ”
I don’t buy the premise. you can have it both ways. you’re just too afraid, or too stoopid to look for the third, or fourth, or even the tenth way.
December 11th, 2007 at 5:57 pmwait, wait - I need my rose-tinted glasses so I can “see the light” of the conservative take on this”
Capt - you going to be content in a future where Canadians treat the US like we do Mexico - nice place to pick up a leather jacket for cheap?
Anyone catch the 300 pt. drop in the Dow today? Which was the result of a rate cut by the Fed. Rate cuts are usually associated with major upticks on the markets, not big drops. The economy is malfunctioning.
December 11th, 2007 at 5:58 pmcaptaintick must have run off to check with the whitehouse regugitation talkingpoints.
December 11th, 2007 at 5:59 pmAre you on the side of strengthen the economy or saving the planet?
Comment by CaptainMantastic — December 11, 2007 @ 5:53 pm
Actually, the planet will survive just fine. Without us.
This might be a surprise to you, but money isn’t everything.
December 11th, 2007 at 6:00 pmralph the wonder llama -The Media is making this a self-fulfilling prophecy.
CaptainMantastic- Efforts and innovation toward Saving the planet will strengthen the economy. Wordsmithing done.
December 11th, 2007 at 6:00 pmApparently, you can’t have it both ways. Are you on the side of strengthen the economy or saving the planet?
(I know I won’t get a straight answer, I’m just interested to see the wordsmithing)
Comment by CaptainMantastic — December 11, 2007 @ 5:53 pm
In other words, your mind is already made up and you just come to the blog to play stupid games? Correct me if I’ve misunderstood.
It’s interesting that the economic state of this country, and the sense of financial security of its citizens is a big joke to you. Ha ha.
Ha.
December 11th, 2007 at 6:00 pmAgain with the false choices.
It’s always, conservatives propose, some stark choice between only 2 alternatives (theirs, and certain doom).
It’s just more kooky, incoherent, irrational BS. Doesn’t matter what the topic is, we end up back at old False Choice junction, where we can either support the Cheerleader Prince or die by decapitation; or we can either “work to preserve the environment” or “destroy the economy”, and on and on and on.
Tedious, and the major contributor to the foul moods and attitudes that can develop around here.
December 11th, 2007 at 6:01 pmIt’s the gayliberalIslamocommunistmedia talking us into a recession!
-GSD
December 11th, 2007 at 6:01 pmfox ticker:
“How much has Barbara Steisand damaged the World Economy?”
December 11th, 2007 at 6:03 pmHere’s a heart-warming Christmas Carol to take our minds away from the economic problems which many of us face.
THE LITTLE TAPPER BOY
Hey you in the neighboring stall, a tap-a-tap-tap
I’m reaching under the wall, a tap-a-tap-tap
I’ve got a gift for you, a tap-a-tap-tap
Do you have a wide stance too? a tap-a-tap-tap
Tap-a-tap-tap, tap-a-tap-tap
A tap-a-tap-tap
December 11th, 2007 at 6:05 pmLarry can’t beat the rap.
Are you on the side of strengthen the economy or saving the planet?
False choice is right.
December 11th, 2007 at 6:05 pmComment by CaptainMantastic: If you believe the economy is performing poorly, do you still support signing Kyoto, even though many economists perdict it would hurt the economy?
You’ll find economists coming down on both sides of this question. It all depends on which statistical models they’re looking at. This is all mostly theoretical at this point, just sorta perdickshuns.
Rudd in Australian has begun to backtrack for that very reason.
http://au.news.yahoo.com/071203/2/p/155bi.html
You know, more than anything else what I get from this article is the strong sense that Rudd’s been gotten to. Somebody seems to have explained to him upon which side his bread is buttered. :-)
December 11th, 2007 at 6:06 pmI don’t even need to “phone a friend”. I am going with save the planet. Still this is a stupid construct as these are not mutually exclusive options
December 11th, 2007 at 6:06 pmIf you believe the economy is performing poorly, do you still support signing Kyoto, even though many economists perdict it would hurt the economy?
Comment by CaptainMantastic — December 11, 2007 @ 5:51 pm
Oh, good point, Captain! All of a sudden, the catstrophic alteration of our natural world doesn’t seem so important, when gas is gonna cost me $5 a gallon! Thanks for the perspective shift!
December 11th, 2007 at 6:07 pmPeople see what is going on with the subprime mess and have no confidence at all in the leadership in Washington. This is a huge reason for the pessimism.
December 11th, 2007 at 6:08 pmPeople see what is going on with the subprime mess and have no confidence at all in the leadership in Washington. This is a huge reason for the pessimism.
Comment by lefty
December 11th, 2007 at 6:11 pmSame thing happened when Bush’s father was VP. Later we learned that info about the savings and loan industry was withheld from the press until after the election of daddy.
Comment by CaptainMantastic: Apparently, you can’t have it both ways. Are you on the side of strengthen the economy or saving the planet?
Saving the planet. If we don’t save the place where our economy is rooted from destruction how can we expect to maintain economic strength and growth?
You know, it does matter what you leave behind. Wringing the last bit of wealth out of a dying planet before you yourself peg out isn’t what the game should be about.
December 11th, 2007 at 6:12 pmThe Economy is just fine.
-The Coalition of Oil Barons
December 11th, 2007 at 6:25 pmSouthern guy: “And if we are really in a recession, why is everyone so fat?”
Because carbs are cheap and easy to get, but protein and produce is more expensive and harder to get.
And, why this phony argument about fixing the environment vs. economic strength? I don’t get it. Are photovoltaic cells and other renewable energy technology built by factories owned by capitalists or not?
December 11th, 2007 at 6:36 pmThe only people who think saving the planet and economic growth are incompatible are tools of the fossil fuel industries.
December 11th, 2007 at 6:37 pmComment by Ret. Col. Jack Ripper- Agree. Efforts and innovation toward saving the planet will strengthen the economy.
December 11th, 2007 at 6:40 pmBar business always picks-up during a recession. Keep our eyes on the number of DUI’s for recession predictions.
December 11th, 2007 at 6:42 pmNational Review apparently announced their endorsement of Romney today.
December 11th, 2007 at 6:43 pm….and justified it because he is the one (get this) “most like Bush”.
woo-hoo ladies and gentlemen!
December 11th, 2007 at 6:44 pmAmerica is in the mess it finds itself in because of a decade of $10 a barrel oil, following Sadaam’s ouster from Kuwait.
One major survival skill of human beings is the capacity to see things coming, before they hit us. We should use it.
December 11th, 2007 at 6:46 pmThe only way to tell of recession is by the numbers and the numbers suggest we are doing very well this Christmas season.
Comment by Roger_Roger — December 11, 2007 @ 5:52 pm
So why the sub-primes mess? If everything is so rosy why have 196 lending institutions failed? Why are tax receipts down? Why has the dollar lost 50% of its value? Since when is Christmas a determining factor of recession? Why has the M3 been discontinued? Why do people live on credit? Why are people not saving money?
December 11th, 2007 at 6:48 pma 300 point selloff in an hour-and-a-half is “doing very well”??
December 11th, 2007 at 6:51 pmYou guys misunderstand R2. When he says “the numbers suggest we are doing very well this Christmas season”, he means he and his immediate family.
That’s as far as most wingnuts can extend their empathy.
December 11th, 2007 at 6:53 pmSo…..myopic AND incoherent….heady mix!
December 11th, 2007 at 6:56 pmRoger: “the numbers suggest we are doing very well this Christmas season.”
OK, I’ll bite. Which numbers? Can you be more specific?
December 11th, 2007 at 6:56 pm#40 Comment by Xisithrus
December 11th, 2007 at 6:57 pmPeople have not been saving money for two decades. The sub-prime mess as you refer to it, is a that it was sub-prime over-sold without government oversight because of the Bush administration looking the other way.
Tax-receipts lag b/c there is a lagging home buying market and that aftermarket purchase. Not b/c people don’t have money to buy, but they are waiting for the bottom. People live on credit b/c they still want to have it now rather than save for it.
And, Tom, that’s a 300 point sell-off IN SPITE of an interest rate cut. When have you ever seen that?
December 11th, 2007 at 6:57 pma 300 point selloff in an hour-and-a-half is “doing very well�?
Comment by tombaker — December 11, 2007 @ 6:51 pm
That is a reaction to not getting the half-point off of interest rates that investors were thinking might happen. The gains over the last several weeks were that hope. Instead they got a quarter.
December 11th, 2007 at 7:00 pmhe sub-prime mess as you refer to it, is a that it was sub-prime over-sold without government oversight because of the Bush administration looking the other way. -leftcoast
Oh, they knew about it, they simply refused to ‘tinker with a boom’
December 11th, 2007 at 7:01 pmOh, they knew about it, they simply refused to ‘tinker with a boom’
Comment by Xisithrus — December 11, 2007 @ 7:01 pm
Precisely.
December 11th, 2007 at 7:03 pm46 - that struck me too, though leftcoast just offered a sensible explanation why it was a slump and not a jump.
December 11th, 2007 at 7:11 pmtombaker-
December 11th, 2007 at 7:14 pmThere are a lot of new players in the stock market that are causing a huge fluctuation b/c of emotion. Few of these guys take time to read the financials. These swings are going to go on for a couple of years.
i’ve been watching the Dow’s gymnastics act the last couple of years
almost had myself convinced i could make a buck from it, as predictable as these +/- 2-300 point reversals are…
if we see a jump by friday, all the headlines will be about “economy surges ahead, despite grim outlook” or some such nonsense…
from my pov it’s more erratic than ever, and not tranding toward the better.
December 11th, 2007 at 7:20 pmThe economy is about as strong as it has ever been. And the armaggedon global warming scenerio being used to scare people is a fantasy.
Comment by CaptainMantastic — December 11, 2007 @ 7:27 pm
And you’re from planet X. You’re at the very least an ignorant fool, or perhaps just a hateful moron. the econmy sucks, and is getting worse by the day, and global climate change has been accepted as real and dangerous by the majority of REPUBLICAN candidates. It’s not being used to scare people, it’s being shown to people who are getting scared, with good reason. Now, are you an ignorant fool, or a hateful moron? It can only be one or the other, if I use the sick black 7 white scenarios in your empty head.
F*(k off, jerk.
December 11th, 2007 at 7:30 pmAnd evolution was a Socialist-homosexual plot to destroy Christianity.
December 11th, 2007 at 7:32 pmtombaker- the dow is hardly a complete indicator; 30 stocks. An indicator is monitoring your 401K and 403B’s and shifting when necessary. People take more time grocery shopping for two items than they take reviewing their banking.
December 11th, 2007 at 7:34 pmI think maybe the Captain hit “the happy hour” this afternoon - sounding a little weird there, friend….it’s ok Cappy - this gets to us all after a while
December 11th, 2007 at 7:51 pmI think the Captain is playing a funny on us, and being sarcastic in post #53. No?
Seriously. Read it aloud in a funny voice: The economy is about as strong as it has ever been It’s GOT to be a joke, right? Or, at least, a right-wing version of a joke, which sometimes looks similar but doesn’t have the funny ingredient.
December 11th, 2007 at 7:55 pmActually most Republican candidates appear to believe in shooting themselves in the foot before the conventions, thus rendering their campaigns moot.
December 11th, 2007 at 7:56 pmCaptainmanhadler lost any cred he might have imagined he had with the ridiculous question about the economy vs. planetary survival. He’s a full-fledged koolaid chugger, when he can get Bush’s teeny little cock out of his mouth.
December 11th, 2007 at 7:57 pmHave you noticed how the Dems haven’t been talking about Iraq? Oh, we’re winning and the surge is working. On to the next topic…
Hey, foreclosures are up. Trash talk the economy!
But we’re not in a recession. We’d have to have 2 consecutive quarters of negative GDP, and we don’t even have 1 yet. Last GDP was zooming. Most economists are predicting a 1.5-2.5% GDP for the next quarter or two. Not even close to a recession. So later 2008? Unlikely. 2009? Maybe.
December 11th, 2007 at 10:22 pmAh, the old trick of a lib network brainwashing people into thinking the economy is in the tank (IT ISN’T!) and that we are in a recession (WE AREN’T) and then, after days or weeks of this drilling into people’s brains, taking a poll which is almost guaranteed to give the results the libs want!!
December 11th, 2007 at 10:39 pmthanks John Gibson, or whoever this clown is here to repeat.
December 11th, 2007 at 10:40 pmPeople feel the economy is bad, because they are having to spend more for basic needs like food, and utilities. As long as average americans feel their paychecks will adequately cover their expenses, with a little left over for fun, they will be happy. However the trillions on Iraq, coupled with the collapse of the sub-prime market, and the recent roller coaster ride of the stock market, aren’t helping. Are we in a recession? No I don’t think so, could we be in a recession? Yes, the instability caused by Bush and his cronies, has filtered down onto the American public. Ever ask yourself why the Canadian dollar is worth more then US currency?
December 11th, 2007 at 10:58 pmAh, the old trick of a lib network brainwashing people into thinking the economy is in the tank (IT ISN’T!) and that we are in a recession (WE AREN’T) and then, after days or weeks of this drilling into people’s brains, taking a poll which is almost guaranteed to give the results the libs want!!
Comment by John Kerry — December 11, 2007 @ 10:39 pm
but jk you aren’t fooled, are you?
December 11th, 2007 at 11:13 pmThis means our party, the Democrats will win!
Comment by Megatron — December 11, 2007 @ 10:47 pm
yes it does.
December 11th, 2007 at 11:13 pmIt always cracks me up when conservatives talk up the GDP as if they know what they’re talking about. The GDP, largely a function of corporate profit, is about as relevant to the economic state of affairs for the average citizen as the weather on Mars is to climate change on Earth. Here’s a thought you stupid corporate tools: if poverty is on the rise, if consumer spending is down, if consumer confidence is down, if capital expenditure projections are down, AND the GDP DOESN’T show us in a recession, maybe we’re measuring the issue incorrectly. Maybe, just maybe, we’re measuring it in a way which is helpful to large corporations and their message, but not helpful to the average citizen.
December 11th, 2007 at 11:16 pmRudd in Australian has begun to backtrack for that very reason.
http://au.news.yahoo.com/071203/2/p/155bi.html
Comment by CaptainMantastic — December 11, 2007 @ 5:51 pm
rudd, who’d he beat in the recent election? he was a good friend of bush’s (didn’t help though)… what was his name again?… good strong conservative, really loved bush (it just didn’t help him, wonder why?)… just can’t remember his name. oh well he was a conservative, so what difference does it make?
eh?
December 11th, 2007 at 11:20 pmmuckdog: “Have you noticed how the Dems haven’t been talking about Iraq? Oh, we’re winning and the surge is working. On to the next topic…”
Sure, a-hole, let’s talk about Iraq. The “surge” is not working because the effectiveness of the “surge” was supposed to have been measured by political progress in Iraq. That was the reason Bush gave us for the surge. Just because he’s pulled another bait and switch, don’t expect thinking people to fall for it. Of course, you’re sitting there in your sociopathic trance congratulating yourself over all of this while over 850 of our soldiers have been killed this year and thousands have been wounded - FOR WHAT? So that the Iraqis could reach political compromise and a functioning government. That hasn’t happened yet, so despite what the corporate media tells you, the “surge” hasn’t worked you ignorant tool.
December 11th, 2007 at 11:21 pmCaptain Mantastic: “Rudd in Australian has begun to backtrack for that very reason.”
Hey stupid: Rudd is pulling out of Iraq and signing the Kyoto Treaty. Dream on dummy. He’s there because Howard was Bush’s best friend and the Australians just can’t stand Bush. If you knew anybody in Austrailia, you’d know that 9 out of 10 people you talk to there hate Bush’s guts.
December 11th, 2007 at 11:24 pmComment by muckdog — December 11, 2007 @ 10:22 pm
it all changes in 2008.
(please don’t blow up any daycare centers, ok? just learn to be good losers.)
December 11th, 2007 at 11:28 pm“When people who are honestly mistaken learn the truth, they will either cease being mistaken, or cease being honest” - Anonymous
December 12th, 2007 at 12:12 am“When people who are honestly mistaken learn the truth, they will either cease being mistaken, or cease being honest†- Anonymous
Comment by tombaker — December 12, 2007 @ 12:12 am
a riddle the trolls will never solve…
December 12th, 2007 at 12:20 amThe GDP, largely a function of corporate profit, is about as relevant to the economic state of affairs for the average citizen as the weather on Mars is to climate change on Earth.
Comment by Ret. Col. Jack Ripper
This whole post is priceless.
December 12th, 2007 at 2:14 am90% of the US public believes in God, as well, so what’s your point here, Think Progress? That a majority of Americans are not quite brilliant?
Comment by DreamCrusher — December 12, 2007 @ 3:31 am
dc, according to bill o’reilly you are a devil worshipper.
“If you read these far-left websites, you’re a devil worshipper. You are.â€
- bill o’reilly, fox news “the o’reilly factorâ€, 12/07/07
eh?
December 12th, 2007 at 4:28 amComment by DreamCrusher — December 12, 2007 @ 3:31 am
“huck” huckabee:
“don’t mormons believe that jesus and the devil are brothers?”
dc, as a satan worshipper, can you tell us what your thoughts on this are? yes, no… maybe?
December 12th, 2007 at 4:34 amIf you all remember the last Bush recession, they never fessed up that we were even in one until they announced that “well, yes, we were in a recession after all, but now we’ve emerged from it. Look for the same thing here–they put out the rosy “estimated” numbers on the front page of the Biz section and all over CNBC and CNN and then quietly revise them later downward on the lower corner of page 8 of the WSJ business section. Watch for it–it is happening again. Whether we are actually in one yet is semantics–there have to be consecutive quarters of negative growth–but we will not escape one this time. Our last recovery was fueled by the housing boom and people’s rising sense of personal wealth as house prices went through the roof. There is nothing to fuel the next recovery–unless (are you listening Capt. Mantastic?) there is a next big boom fueled by the need to switch to a green economy. We need that boom to originate in America, since we are in debt up to our gills. People have taken all the equity out of their homes to buy shit. They have run up their credit cards to buy more. We could be in for some protracted pain if our hidebound leaders think they can keep our country going on smoke and mirrors.
December 12th, 2007 at 8:23 am“That a majority of Americans are not quite brilliant?”
If we can cite you as a representative, there’d be a whale of a lot more to say on that subject.
December 12th, 2007 at 10:07 amClearly there is no recession, as there would need to be nine months of economic decline to qualify as a recession.
Regardless of the silly naysayers, the economy is doing very well. The tax cuts had a nice lasting effect and unemployment is at historic lows. Essentially if you don’t have a job its because you don’t want one.
December 12th, 2007 at 1:24 pm*to ClintonWasImpeachedAndDisbrred*
Ahem, would you like fries with that? :p
*yawn* Not going to bother with the 3270834209732th time of saying ‘jobs available today are shit jobs that don’t pay enough to live on’. They didn’t get it the other 3270834209731 times….
December 12th, 2007 at 11:23 pm