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06-02-2011 11:01 PM  9 years ago
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Dennis (RIP)

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Liberals Panic Over the Economy
Liberals Panic Over the Economy

June 2, 2011

The AP: "The economy is tiring again." The press, they're so depressed because Obama had a week of "no negatives." There were no negatives, and then all this rotten economic news hit. This rotten economic news never went away! This rotten economic news has been what has defined this administration since the stimulus bill. There hasn't been any good economic news since this bunch assumed power. One of the biggest lies, one of the biggest myths in the last two-and-a-half years is that there has ever been a recovery. There has not been, statistically or otherwise. In terms of real people and their lives, there has not been an economic recovery. The AP says today, "The economy is tiring again.

"Reports Wednesday on manufacturing and company hiring were so weak that many economists immediately downgraded their forecasts for Friday's jobs report for May. Some analysts also slashed their estimates for growth in the April-June quarter." Now you got people out there talking about another recession. You've got some Democrats talking about perhaps a Great Depression. So now the doom and gloom is surfacing -- and believe me, this is not what the regime wanted. This is not part and parcel of the giant plan here. You don't have miracle economic recoveries from this baseline, but they're trying to set something like that up.

Here are three examples, for instance, of the bad economic news over the last few days just from CNBC. "Horror for US Economy as Data Falls Off Cliff." "Wall Street Baffled by Slowing Economy, Low Yields." Trader: Prepare for More Money Printing: Analysts." This last article reported that QE3 is about to start. That's Quantitative Easing 3. This is like a heroin addiction to people on Wall Street. It is the printing of money. Quantitative Easing 2 that kept stock prices up. You saw what happened. Stock prices were down demonstrably lower yesterday; this creating a panic. They're down again today. And so now the Wall Street people say, "Hey, give us more money, Ben! Pump some more money in! Start printing some more money." All of these official fixes have done nothing to revitalize the economy. Let's go to the audio sound bites and give a listen to this. A panic is beginning to set in out there and the media spin is that we're in recovery and they couldn't sustain it. The numbers don't lie. We have never been in a recovery. This is CNBC's Squawk on the Street today.

YASTROW: What we've got right now is almost near panic going on with money managers and people who are responsible for money. Ben Bernanke's not a magician. We're on the verge of a Great, Great Depression. The Fed knows it. We have many, many homeowners who are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown, and the economy's gonna suffer -- and all the Fed tweaking and all the interest rate tweaking and all of the tax adjustments are actually not going to be able to save us if we cannot get a cost of labor that's in line with the rest of the planet and we can't get our productivity levels high enough to justify the wages we're already being paid. It's not that complicated.

That is Peter Yastrow, by the way, Peter Yastrow, he's a market, DT trading market strategerist just, you know, one of the analyst talking heads from the Street. Got a panic out there, nothing's working, the recovery is gone. There never was one. Who are these people to miss real life right in front of them. Here's former labor secretary Robert B. Reichhhh last night on MSNBC during a discussion about the debt ceiling. The host said, "Explain what uncertainty is over the debt limit deadline and what it could do ultimately to the economy if we drag this out until August 2nd?"

REICH: This debate is becoming increasingly disconnected from where most people in this economy are. I mean, the reason that the stock market plunged today is because, uh, ADP -- which is a payroll...employee payroll firm, -- uh, projected that in this month -- that is, last month of May -- ehhh, there were only 38,000 jobs created. We're in an economic crisis right now. We're heading back toward a double-dip recession, the whole recovery is stalling, and Washington is debating budget deficits five or ten years from now. This is ridiculous!

It's not what Washington is debating, Secretary Reich. We are in this mess precisely because of economists like you. We're in this mess precisely because people with your beliefs have been running the economy and running the show for two-and-a-half years now -- actually longer in the House of Representatives starting in 2007. It's an abject mess because your ideas are flawed and do not work. We can't continue to raise the debt ceiling, we cannot continue to spend money we don't have and borrow money we don't have. We just cannot continue on this path. We can't kick this can down the road. It's what everybody seems to want to do.

Debt ceiling? You know, nobody expected the debt ceiling vote to be the way it was. Everybody expected the Republicans to cave, and it was the exact opposite. Here's David "Rodham" Gergen, last night CNN on In the Arena. (chuckles) Democrat and a member of their client culture of erection, Eliot Spitzer asked David "Rodham" Gergen, "Isn't there a problem now, 'cause the president's entire political debate relates to the deficit -- and yet in order to get out of the economic quagmire that we're in right now he may need a second stimulus, a second round of fiscal policies. There's no political argument that he's making or that will carry Congress toward those policies right now. Isn't he sort of in a bind right now?"
GERGEN: It is really this picture darkens, and it is -- was particularly stark today with manufacturing, with housing, auto sales, jobs, all of these issues. We obviously have a -- an economy that's stalling out, and we're in very great danger of a double-dip here now which would be a very big disaster for an awful lot of Americans. As the news comes in there's gonna be a jolt out of this. I mean, all of us are looking at this, "Oh, my goodness, this is terrible. We've got to get this economy up and running again." You have to have a good-running economy, you've got to get some growth in order to deal with the deficits.

Such wizardry! Well, you believe that? You gotta get some growth in order to deal with it? What happened to the increased taxes argument, Mr. Gergen? I guess that's kind of out the window now? Yeah. Growth is a new idea to you guys. All of a sudden now we need growth? Where's that been for the last two-and-a-half years? Oh, we've had growth? Oh, I'm so sorry! Oh, we have been in a recovery, right. Let me tell you something: Obama's stimulus plan has had about as much effect on this economy as the Weiner photo would have on a woman: zilch, zero, nada. In fact it's a turnoff, not a turn-on! What a derelict. So now there's abject panic setting in. Look at the lies these people are willing to tell themselves.

You have to be filled with self-loathing to lie to yourself that these past two-and-a-half years that we have been in a recovery. You talk about a major, major disconnect opinion? Folks, it looks like even Obama's staunchest acolytes in the media are giving up trying to spin these unemployment numbers now. The AP has come out with an article this morning that basically says the unemployment numbers are only as low as 9% 'cause of all the shirkers who aren't even bothering to look for work. They actually have a story about all the people who quit looking. AP can't carry the water anymore. They have run out of "unexpectedly," "surprisingly." They've run their gamut on it. Did you see...? This was funny. I don't know if you saw this, Snerdley.

But earlier this week Michael Barone had a column in which he chronicled all of these instances where the media's experts have expressed shock and surprise over the performance of the economy, as though somebody had just discovered that. We've been having fun with that for how many years here? But they can't even go back to that well. "In surprisingly unexpected news, job creation was unexpectedly lower than expected." They've expired, they have run through every possible credible explanation. Now AP finally says: You know, it's really even worse than this because people have stopped looking for work -- which is something else we've known for a long time. Yep, unemployment is only as low as it is because of all the shirkers who aren't even bothering to look for work.

AP tells us: If everybody who has given up looking for work were counted, the real unemployment number would be 11.5%. This is AP. These are the shock troops from Obama's Praetorian guard, and they can't carry the water anymore. Speaking of unemployment, there were only 422,000 new unemployment claims last week. By the way, remember Biden? He said 500,000 new jobs a months, that's what was gonna happen here? I've got quotes from Biden here. He can't believe how great the stimulus was working, never dreamed it would work this well. I've got it all here, folks. We're gonna run through it. Obama: "We've begun remaking America," April 29th, 2009. "President marks end of a hundred days, says he's pleased with progress but not satisfied."

Newsweek: "The Macho Democrat -- Obama looks unbeatable now, but the GOP sees weak spots." "The Fast Fix: Is Obama Now Unbeatable? This is CNN: "Cancel the Election! CNN Anchor Asks, 'Obama Unbeatable in 2012?'" That's one series of stories. Then we've got Biden and his promise of 500,000 jobs. The AP headline is: "More Job Seekers Give Up," finally admitting what we've been pointing out for a year and a half. They say that there were "only" 422,000 new unemployment claims last week. That means that they're down by, what, a whapping 6,000 claims -- and never mind, folks, that the previous week's number was quietly revised up by 4,000 just like it always is.

But there's no hope (you have to keep this in mind) for any real reduction in the unemployment rate as long as that number is above 400,000, and economists are saying it will be for years to come. That 400,000, you have to get sickle below that before you even start talking about replacement level jobs. It's a disaster. The real question is whether or not this is what Obama intends. The real question is: "Is this the objective?" I still maintain that that must be seriously examined, because nobody in their right mind-- with a modicum of experience, economic intelligence, and education -- would ever double down, triple down on failed policies like this, to whom this mess can be directly traceable. Something is really, drastically wrong with all of this, and it's not the United States of America. This is not deserved, this is not called for, this is not just what happens to be up next for us.

There's more going on here than just it is cyclical nature of economics.

http://www.rushlimbaugh.com/home/da...107.member.html
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06-03-2011 02:11 AM  9 years ago
702nitro

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The next dip will be the last and after that 'it' would hit the proverbial fan. With elections around the corner, both parties will be in a pissing match which will end in no resolve to the debt problems facing this country. Expect to see QE3 during the summer, because I just don't see how this rally in the equities market was justified considering all other economic indicators were saying otherwise. The government will artificially stimulate the economy again. Make no mistake! The day the US falls of the ranks is right around the corner.

I recommend everyone here to take a portion of your cash savings and invest in Silver and Gold to protect and preserve your wealth. Get in while it is still cheap.
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06-03-2011 02:17 AM  9 years ago
702nitro

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Peter Schiff: Dollar Collapse

Watch at YouTube

Peter Schiff Right Again

Watch at YouTube

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06-03-2011 02:38 AM  9 years ago
baby uh1

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I recommend everyone here to take a portion of your cash savings and invest in Silver and Gold to protect and preserve your wealth. Get in while it is still cheap.
You'd be better off investing in beans and bullets!
Anything is possible if you don't know what you are talking about!
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06-03-2011 04:29 AM  9 years ago
702nitro

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You'd be better off investing in beans and bullets!
You don't want your entire savings in beans and bullets; A portion but not all of it.

Silver and Gold is money, not some fiat currency that can be manufactured out of thin air.
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06-03-2011 04:41 AM  9 years ago
drdot

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fwiw...

Did some one say the government was going to inseminate the economy again....??

What Happened...?

BC
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06-03-2011 12:28 PM  9 years ago
baby uh1

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They are at the point where they are "shooting blanks" and can't inseminate anything anymore.Anything is possible if you don't know what you are talking about!
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06-03-2011 12:53 PM  9 years ago
nivlek

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Next time , maybe America should vote for change ! Oh yeah , that's what happened last time .Lol .At the end of the day , it gets dark .
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06-03-2011 01:46 PM  9 years ago
baby uh1

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Yeah, the new buisness plan is to fail quick and fail cheap and learn from the experiance. America did neither cheap enough or quick enough with Obama even though he deffinately is failing!
Just hope that we learned from the experiance!
Anything is possible if you don't know what you are talking about!
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06-03-2011 02:27 PM  9 years ago
shawmcky

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Now that is the guy you need as the next President,where are all those other fools now How right can one man beRather than have all this cross party infighting,a coalition of the best and willing from all parties is needed to pull America from a very dire,worsening crisis,just as in time of war.Then you would see the sum of true patriots that can leave self interest behind when the country needs it.A collection of Winston Churchill typesTeam- unbiased opinion.K.I.S.S principle upheld here
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06-03-2011 03:08 PM  9 years ago
shawmcky

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Or maybe the "Rats"think it is too late and it is everyman for his/her self.Perhaps it is a global master plan after all and things are going just fine(If you are one of the elite)Team- unbiased opinion.K.I.S.S principle upheld here
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06-05-2011 05:57 PM  9 years ago
Rogue123

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Phoenix AZ

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Buying gold

Here is link from 2yr ago,

https://rc.runryder.com/t525964p1/?highlight=gold

Been buying the stuff, spot price has gone up. After last week listen to greenspan, Im start to back out of the market.

http://www.cnbc.com/id/43109629

http://www.prisonplanet.com/peter-s...r-disaster.html

This is a sign a huge sign bonds are start turnning into junk. If no one buys our bonds

http://www.prisonplanet.com/china-h...sury-bills.html
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06-05-2011 06:00 PM  9 years ago
rcsoar4fun

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Boise, Idaho

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Gold is past being cheap. Some people are projecting it will hit 3500 an ounce shortly. If it does having gold will be the least of your worries.

Bullets and beans, but don't forget the guns to go with it.
I give up on Loctite, nothing lasts long enough to vibrate loose anymore.
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06-05-2011 06:05 PM  9 years ago
Rogue123

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06-05-2011 06:07 PM  9 years ago
Rogue123

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Past being cheap when its 3500 and it @ 1500 now, NOW is cheap.
Gold is past being cheap. Some people are projecting it will hit 3500 an ounce shortly. If it does having gold will be the least of your worries
You got to remember gold is a hedge, not an investment. Lets say you buy a gold bar worth $1.00 and goes up $2.00 that that means what you could buy @ 1 now it will cost you 2.

Look at food and oil, food prices have doubled, same tomato, but the price went up. Look at oil we have plenty, but the price also has doubled. our debt has doubled since Mr. Obama.

Ask yourself for every dollar you spend, 0.41 is borrowed. Then you add intrest. Your almost taking in a loss. Living beyond you means. 50% goes to borrowing and 50% goes to living. Then ask yourself, what happens if an emergency arises?? You would have to borrow. That is what the US gov is doing Remember its your money.
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06-06-2011 05:14 AM  9 years ago
702nitro

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Gold is past being cheap. Some people are projecting it will hit 3500 an ounce shortly.
Projections start at 5000 up to $15,000 for an ounce of gold. Look at how fast an ounce of gold shot up since the year 2000. As the Fed went to the printing press, gold has shot up exponentially! I am getting worried. If gold reaches those prices, that means the dollar is basically worth the paper it is printed on.

Has gold peaked??? I don't think so. The price of gold could go as high as the sky! QE2 are the last leg, the only leg of the economy. On June 3rd, ADP reported 54,000 jobs were created during the month of May. Analyst were expected approximately 170,000+ jobs to be created. Unemployment rate went to 9.1% from 8.9%. This is an indication that QE2(which expires on June 30th) is losing it's juice.

My friends, what we are seeing here is the complete lost of purchasing power of the consumer. Years of binging on credit and debt has finally caught up. Here is when the situation gets sticky. 60%+ of US GDP is derived from consumer spending. As people lose their jobs, their confidence, consumer spending will continue to decline.

When Aug 2 comes around and the govt raises their debt ceiling by $2.4 Trillion dollars, I believe QE3 is priced in their somewhere. But again this is a Red Bull, or Energy drink for someone that needs sleep and will eventually crash. You can only go so long on artifical stimulants. When the US economy finally goes to sleep, that is when people will learn. They will learn to save, invest, and live within their means. It will take years to repair the damage.

PREPARE!
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06-06-2011 05:31 AM  9 years ago
702nitro

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Las Vegas, NV

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@Rogue

Your prediction two years ago are very close! Gold will defintely hit $1800 for sure.
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06-06-2011 01:18 PM  9 years ago
SSN Pru

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Taxachusetts

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If you cant see that gold is an expanding bubble right now then you deserve whats comingStupidity can be cured. Ignorance is for life!
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06-09-2011 07:37 PM  8 years ago
Rogue123

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Phoenix AZ

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@SSN PRU

If you look over the past 11yr and compair GOLD and the US debt. You will see why gold is going up.

Start looking at Silver, All the clowns on CNBC thought it was where to put ur money right before it dropped then good old George S sold all of his paper silver ETF, and silver dropped back down to supporting levels. Then the clowns on CNBC said sell, what every you do not put your money in Silver. Then good old Geoge S goes in and buys physical. Makes you think, why would one of the wealthiest men in the world do this. Bubble no.

I was watching Peter S He said gas is cheap, if you have an 1964 dime u could buy a gallon of gas think about it.

Here is a little on how and when on silver

http://www.youtube.com/watch?v=UE7QcVN5tC8

http://www.youtube.com/watch?v=Lniu...feature=related

Here is a currency chart

http://data.cnbc.com/quotes/.DXY/tab/2
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