Economy has yet to hit bottom.
By on Apr 11th, 2008 at 9:53 am
Economy has yet to hit bottom.
According to a new Wall Street Journal forecasting survey, by a 3-to-1 ratio, economists say “the economy is in a recession, and almost three-quarters [say] the economy hasn’t yet hit bottom.” In the poll, Fed Chairman Ben Bernanke received a grade of 78 out of 100, down from “the 92 he scored in September.” Treasury Secretary Henry Paulson’s “grade dropped slightly — to 73 from 74 in February.”
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Neither has the Nazi Chimp.
still sipping the sauce.
April 11th, 2008 at 9:58 amThe only good thing about hitting bottom is that the only way to go from there is up (unless we just park ourselves there).
Unfortunately, the road to the bottom is going to get more and more painful, and will probably do a lot of long-term (if not permanent) damage.
April 11th, 2008 at 10:05 amEconomy has yet to hit bottom.
Chimpy once again proves his anti-Midas touch …………..
April 11th, 2008 at 10:06 amEver the reason for Bernanke to take action: to protect the value of his own property, or cut his own losses.
April 11th, 2008 at 10:07 amThis is just a “correction”.
April 11th, 2008 at 10:09 amTorture is just “enhanced interrogation techniques”.
George Boosh is a “compassionate conservative.”
The Constitution is “quaint” or “just a G-damn piece of paper.”
Another great example of Republicans being the “fiscal responsible” party.
April 11th, 2008 at 10:12 amReputation and reality clash.
At this point, a President Obama SHOULD NOT renominate Bernanke for board chairman once his term is up.
April 11th, 2008 at 10:12 amNicky Barnes Says:
April 11th, 2008 at 10:23 am
Hi, Trajan
Bye, Trajan.
April 11th, 2008 at 10:29 amYet, the repugs continue to be viewed as the money managers, the fiscally responsible ones, while Dems are labeled as “tax and spend” — in reality the repugs have historically been bad for the middle class, and under Bush they have followed a “spend and charge” philosophy.
April 11th, 2008 at 10:34 amThe repugs have learned to walk and talk in lockstep, repeating the same lies until the people think it is true; joe sixpack votes for repugs who work for their own interests and against his.
McWars, I agree — President Obama should sweep the government entirely clean and start anew. The repugs will criticize and cry foul, they will say the sky will fall — and maybe Obama’s government will stumble at times, but they will remain on track to set us back on the right path for the future. It is our only hope.
April 11th, 2008 at 10:37 amTrajan is an off brand prophylactic,also a troll who likes to pretend he’s a Progressive, but is really regressive. You sound way too much like said troll.
April 11th, 2008 at 10:37 amSpeaking of Trajan and Avideditor, I thought this exchange was priceless:
liberal traitor // April 11, 2008 at 10:20 am
avideditor // April 10, 2008 at 11:21 pm
watch the movie Islam what the west needs to know. It sites the koranic verses. http://avideditor.wordpress.com/2008/04/06/islam-what-the-west-needs-to-know/
The word is CITES, you f—ing idiot. Learn to speak and write properly.
liberal traitor // April 11, 2008 at 10:23 am
avideditor // April 10, 2008 at 4:12 pm
trajan you are your part to fight off the greatest evil to liberty in our generation, just like our countries brave soldiers by exposing the lefty Islamo-Fascist Islamist alliance. Good work. I salute you.
You’re actually comparing the sophomoric, misspelled, poorly written, patheticly argued, mentally disturbed bloviating that you and Trajan75 engage in to what an American soldier goes through on the battlefield and when he/she returns home, sometimes with PTSD, missing limbs, disfigured faces, and horrible images of people blasted apart, dead children, dead friends? You DISGUST me.
April 11th, 2008 at 10:39 amYou
Disgust
Me
Nicky Barnes Says:
April 11th, 2008 at 10:23 am
This is good news in a way. If the economy continues to go down it heps us Progressives in the Fall. People will turn to Progressive solutions in a down economy. I say let it fall so we can win big in November.
I don’t give a crap what you say ; the “average” American has suffered enough these last 7+ years.
No further pain needs to be inflicted upon fellow Americans to prove the GOP is useless , dishonest and incompetent…
April 11th, 2008 at 10:41 amMarie, I couldn’t have said it better!
April 11th, 2008 at 10:43 amNicky Barnes
flagged
April 11th, 2008 at 10:44 amOnce in a rare while, a single image tells you everything to know about the American economy. On Wednesday, the New York Times featured a simple chart showing that President Bush has presided over the first post-World War II economic expansion in which Americans’ median family income declined. If the American Dream is defined in part as each generation doing better than the one before, then the Bush League Economy can officially be declared a nightmare.
For the details, see:
April 11th, 2008 at 10:45 am“The Bush League Economy in a Picture.”
Agreed Marie. I will go further and say that they have always been that way. There is always a recession associated with the fact that we have a republican president.
It was predicted and is predictable. Look at Nixon and Reagan and Bush I.
You can also always count on a financial scandal where they push beyond what is legal because they have some protection. Obviously this has worked out great for them. See S&L and Sub-Prime.
They always borrow us into huge debt. Why do Americans keep buying their lies……they also claim to be God’s party…..wonder what God has to say about that.
April 11th, 2008 at 10:50 amAngryOne
I think everyone is feeling it. Median incomes are always flat under republicans…just worse under bush I & II. Notice how much it went up under democrats in the 60’s and 90’s.
More evidence that wedge issues can make people vote against their own best interests.
I think they have pushed us all too far this time though. The consequenses for the GOP are going to be big. Back to the minority where you belong GOP for another 40 years.
April 11th, 2008 at 10:58 amI’m a “fall before I rise” kind of person, Marie, so I understand that when you bring in someone with potential they must be given some room for error in the beginning. A good leader/learner recognizes that the best learning comes through mistakes. That, coupled with our patience, could lead to a wonderful Obama presidency.
Bush, on the other hand, has none of those good qualities, so he’s been a consistent screw up his entire life — most notably in office — because he’s been using his time to think he knows it all, rather than using it improve his learning curve.
April 11th, 2008 at 11:01 amNicky Barnes
Funny watching a winger try to be a reasonable person and a real team player.
This just shows how little the wingers really know about us. They think we are malicious and evil like they are and so they project what they think we must be thinking onto us……it is incorrect though because it reflects their own warped values so is easy to detect.
flagged
April 11th, 2008 at 11:01 amIt is predicted that 1.4 million homeowners will go into foreclosure this year. (Many are already there now) They need to get an agressive housing bill put together so that this doesn’t occur. That would help slow the descent greatly.
The second plan they need to implement is to extend unemployment to a year. I can not fathom why this has not been done. Not only would it boost the economy; it would help people who are in dire straits looking for a new job.
The third plan is too create jobs. (What a concept) Repair our roads and bridges is absolutely necessary. That would stop the downward spiral of losing jobs every month. This would create many jobs across the entire country.
This is not that difficult to figure out. I do not understand the resistance this Congress has on implementating these simple things that would kick start our economy. All three of these plans would put money back into the economy and people would be spending money again.
April 11th, 2008 at 11:04 am$300 TRILLION in derivatives globally. If that doesn’t scare the sh– out of you, it should. Hunker down folks, the ride is going to be really bad if the system collapses. My hope is that they will realize that people starving, angry mobs, utter chaos is worth it, and will reset the loans, and everyone will just owe less (affordable with income), and the speculators will have to bit it just like us, only a little bigger piece (only fair, since they hogged alot of it initially).
April 11th, 2008 at 11:08 amis worth it, should read IS NOT WORTH IT – big mistake sorry. Bb
April 11th, 2008 at 11:09 amQuick someone tell me who`s rating has not slipped? These re-pukes are all at the bottom feeding off of this Iraq mess making millions of $$$$ while America goes down the $hitter. We are at their mercy until John Conyers throws Impeachment on the table and that will at least slow these right wing neocon nut jobs down a notch.
Reagan’s trickle down economics only works for the right and wealthy of this country, we have had 28 years if this and it does nothing for the real taxpayer of this country.These so called tax cutters( for the rich) have only sought out how they can screw Americans over in this take it all attitude of theirs.We need BIG GOV`T back so America can function as our founding fathers would have us do.We need a 21st century New Deal that will have a positive affect on every one of us in this country.
April 11th, 2008 at 11:13 am#24 Fred
Good Morning. I love when you get indignant.
Keep flagging them…
April 11th, 2008 at 11:13 amMy Troll-dar™ is pinging away like crazy right now.
Li’l Nicky is a TROLL!
Flag ‘im, boys!
Yer busted, Nicky.
April 11th, 2008 at 11:16 amNicky Barnes Says:
April 11th, 2008 at 10:55 am
MCMetal,
Yeah but it’s good also. We will win a big historic victory come November, that’s what counts. We owe Bush for this. From negatives things comes positive things. As Progressives Bush has been the best President for our movement. Why the anger, we will soon have complete power!
No one deserves “complete power” ; it is dangerous and unnecessary (this horseshit administration is the ultimate example of that).
There is also nothing “good” about Americans suffering nationwide ; I would prefer that Chimpy were an even “average” president , to alleviate the calamity of the last 7+ years …..
If you were really a “progressive” , you would feel the same ; not revel in how truly dishonest and incompetent this garbage adminstration has truly been and claim that all that basically matters is attaining power……………..
April 11th, 2008 at 11:19 amI am responding for the same reason as McMetal. To keep you from portraying progressives as power hungry opportunists. We are not like you.
April 11th, 2008 at 11:29 am“Nicky Barnes Says:
April 11th, 2008 at 10:23 am
This is good news in a way. If the economy continues to go down it heps us Progressives…”
Real progressives don’t need the pain and suffering of others to justify our positions. Idiot. We’ll do just fine in the fall without more people losing their jobs, their homes, their families, their relatives in Iraq, etc. If you really are a progressive you need to rethink what it means to be progressive.
April 11th, 2008 at 11:36 am“Nicky Barnes
The Progressive movement is on the verge of complete power. We will be able to change America into our image.”
This is the flip side of bush’s facism and should be repudiated. This is what pat roberston, the rev haggee, and osama bin laden want, why do you think like this?
April 11th, 2008 at 11:38 amIn the words of Eor, thanks for noticing.
Seriously, I came to this site with a lot of anger. I lashed out at the wingers until I was almost ill. I even let my anger spill over onto other like minded people here, a mistatake which I reget….we learn and get better and move forward, hopefully.
The people who post here have earned my respect and admiration and I have learned from them to stay focused and make our points without being consumed by the hatred that the right wants to project upon us. We lose when we fall into that trap.
My personal thanks to the true progressive contributors of this blog, you know who you are.
April 11th, 2008 at 11:38 amFreedom Rebel Says:
April 11th, 2008 at 11:04 am
The third plan is too create jobs. (What a concept) Repair our roads and bridges is absolutely necessary. That would stop the downward spiral of losing jobs every month. This would create many jobs across the entire country.
How much of this could we have done if money was spent here rather than the $600 “economic stimulus package”?
April 11th, 2008 at 11:41 amI know of a lot of roads, bridges and levees that need rebuilding.
Fred, thanks for sticking around.
April 11th, 2008 at 11:45 amArt Says:
April 11th, 2008 at 11:41 am
Freedom Rebel Says:
April 11th, 2008 at 11:04 am
The third plan is too create jobs. (What a concept) Repair our roads and bridges is absolutely necessary. That would stop the downward spiral of losing jobs every month. This would create many jobs across the entire country.
How much of this could we have done if money was spent here rather than the $600 “economic stimulus package”?
I know of a lot of roads, bridges and levees that need rebuilding.
Exactly my point. That is going to do absolutely nothing for the economy but pay bills and go into someones savings account. What a waste. Ohio is the rust belt, it would have helped here alot.
April 11th, 2008 at 11:46 amFixing 72,500 structurally deficient bridges in this country would certain boost economic activity.
Good point, Freedom Rebel.
April 11th, 2008 at 11:47 amMcWars Says:
April 11th, 2008 at 11:47 am
Fixing 72,500 structurally deficient bridges in this country would certain boost economic activity.
Good point, Freedom Rebel.
Thanks, I just want this administration to put people back to work and it is within their power to do so. Plus, I don’t want to see another bridge collapse and more people die. This is something that can be prevented.
April 11th, 2008 at 12:16 pmAmen to Fred #19 and McWars #22 !!
April 11th, 2008 at 1:54 pm