Economic Outlook for 2010 NOT Good

[boxcar]

This is going to be a bitter pill for 'cap to swallow:

[i]Roughly two-thirds of last quarter's GDP growth came from a burst of manufacturing — but not because consumer demand was especially strong. In fact, consumer spending weakened at the end of the year, even more than the government first thought.

Instead, factories were churning out goods for businesses that had let their stockpiles dwindle to save cash. If consumer spending remains lackluster as expected, that burst of manufacturing — and its contribution to economic activity — will fade.[/]

The economic outlook ain't pretty. Even Bernanke tells Americans to not expect a drop in unemployment. (Interesting way of phrasing, except a rise?)

http://abcnews.go.com/Business/wireStory?id=9950823

Boxcar

[ArlJim78]

I don't think there will be any chance of a real turnaround until after this election and the verdict is handed down on Obama's ruinous and job killing agenda. everything remains locked up because nobody knows what the future will bring. nobody is likely to borrow, invest or expand in this climate of hatred of the wealthy, redistribution, new taxation, debt and stimulus spending, unionization fastracking, etc. once Republicans take charge in 2011 and start putting the brakes on this craziness, there will be hope. that is unless it's too late. the entire economy is built on a house of cards at this point.

[RaceBookJoe]

Something that has me worried about the economic outlook is this. This past earnings season, a lot of companies "beat" the " number", which sounds good and all and much better than not beating the number. Unfortunately most of this was not due to increased sales/production etc, a lot of it had to do with cost-cutting measures. On top of that, a lot of these companies get a lot of sales from China. With China cutting back a bit, where are the next set of numbers going to come from. Couple China's cut backs and no more cost-cutting measures coming since they have already cut costs...i think a lot of companies are going to be hurt soon.
Something else that kind of ties in is this...lets say "Good!! these companies beat the numbers, things are looking up " I have to say then why arent they hiring. It isnt a rosy picture.
Last thing is the coming inflation...it is coming, its just when. Here are the 3 things i am looking for a warning sign :
1. World Banks not buying up all the debt we need to sell
2. The US credit rating getting lowered
3. China finally deciding to call their own shots as our largest debtor.

China has to be careful with how the deal with this whole situation...i feel they have the most to gain and lose overall. rbj

[46zilzal]

You guys don't get it: there is ONE party with two branches BOTH whores to whatever the $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ wants.

[boxcar]

You guys don't get it: there is ONE party with two branches BOTH whores to whatever the $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ wants.

Yes...but the difference between you libs and us conservatives is that we have to hold our noses at the stench of "our whore" when go vote, whereas as you libs willingly and eagerly crawl into the sack with yours and care not a whit about the foul smell!

Boxcar

[JustRalph]

Tax cuts will turn it around..............none of those in sight..........

I have said for two years now that Obama would be the worse thing that could happen to "his own" those who foisted him upon us.

32% unemployment in the Black Community in Charlotte nowadays........

Keep on electing those Dems............ :ThmbUp:

Tax cuts and major incentives will be the only remedy

[Leonard]

Tax cuts will turn it around..............none of those in sight..........

I have said for two years now that Obama would be the worse thing that could happen to "his own" those who foisted him upon us.

32% unemployment in the Black Community in Charlotte nowadays........

Keep on electing those Dems............ :ThmbUp:

Tax cuts and major incentives will be the only remedy


With deficits as high as they are and with the economy teetering on the brink of disaster under Obama (not a downturn -- we've already done that) I don't think tax cuts alone would do much. And forget about "incentives." There would need to be a massive tax overhaul creating a very low flat tax and the elimination of capital gains taxes to shock the economy into growth. Then government spending would have to simultaneously be slashed (not frozen, not scaled back -- slashed) and major reforms would have to take place in nondiscretionary programs such as medicare and social security.

Otherwise, without the massive cuts in spending the US will have no choice but to default and the world economy would simply shut down. Or we could pay off the debt by printing our own currency but then a loaf of bread would cost $10,000,000,000.00.

[boxcar]

Tax cuts will turn it around..............none of those in sight..........

I have said for two years now that Obama would be the worse thing that could happen to "his own" those who foisted him upon us.

32% unemployment in the Black Community in Charlotte nowadays........

Keep on electing those Dems............ :ThmbUp:

Tax cuts and major incentives will be the only remedy

And this is just common sense. It doesn't take a rocket scientist to figure the solution out. When there's more money in the people's pockets -- then guess where the bulk of that money goes? It goes back into the marketplace. People spend when they have it to spend.

I said last year, when this recession hit, that the best thing BO could do is to suspend the income tax for a year. That strategy would have turned this economy around almost on a dime. A very simple solution that would have been very effective.

But this is why I have a tough time believing anyone (even BO) is that stupid to not realize this. Therefore, I have to conclude from all the evidence, thus far, that he's deliberately and with all malice trying to tank the economy. This could be his way of trying to fulfill his former pastor's wish for God to damn America.

Boxcar

[boxcar]

Or we could pay off the debt by printing our own currency but then a loaf of bread would cost $10,000,000,000.00.

...thereby fulfilling the prophecy in Revelations.

Boxcar

[jonnielu]

I don't think there will be any chance of a real turnaround until after this election and the verdict is handed down on Obama's ruinous and job killing agenda. everything remains locked up because nobody knows what the future will bring. nobody is likely to borrow, invest or expand in this climate of hatred of the wealthy, redistribution, new taxation, debt and stimulus spending, unionization fastracking, etc. once Republicans take charge in 2011 and start putting the brakes on this craziness, there will be hope. that is unless it's too late. the entire economy is built on a house of cards at this point.

It is really sad to see that anyone who has been alive for even the last 30 years, is still willing to sit and wait for a politician of any kind, to fix something.

jdl

[acorn54]

It is really sad to see that anyone who has been alive for even the last 30 years, is still willing to sit and wait for a politician of any kind, to fix something.

jdl

you got that right. people think the politicians of any ilk are some kind of genuuses endowed with powers greater than the average joe.

[boxcar]

you got that right. people think the politicians of any ilk are some kind of genuuses endowed with powers greater than the average joe.

And liberals particularly excel at projecting their pompous, holier-than-thou, elitist, all-wise, know-it-all attitudes. In their heart of hearts, they truly believe that the masses are asses that require masters to rule over them.

Boxcar

[jonnielu]

And liberals particularly excel at projecting their pompous, holier-than-thou, elitist, all-wise, know-it-all attitudes. In their heart of hearts, they truly believe that the masses are asses that require masters to rule over them.

Boxcar

And, so far they are right. There are far more people waiting for Obama to come fill up the car for them then there are people participating in directing their representatives in the state assembly.

jdl

[LottaKash]

And liberals particularly excel at projecting their pompous, holier-than-thou, elitist, all-wise, know-it-all attitudes. In their heart of hearts, they truly believe that the masses are asses that require masters to rule over them.

Boxcar

Boxcar, perhaps you could say it the right way....Obama is just a shill for the "commie new world order", and he & they are busy at work, trying to devastate this nation, as they did in every other country that embraced communism....We are heading toward "Serfdom" and fast....

Wake up far lefters, it will happen to you and your families as well.....They need people like you to wave their flags of change, until it is too late....If anyone cannot see this plainly, well, I pity you for your unwavering loyalty to the one's who would make themselves masters of you and life...

Me, be a serf, never....

[boxcar]

Boxcar, perhaps you could say it the right way....Obama is just a shill for the "commie new world order", and he & they are busy at work, trying to devastate this nation, as they did in every other country that embraced communism....We are heading toward "Serfdom" and fast....

Wake up far lefters, it will happen to you and your families as well.....They need people like you to wave their flags of change, until it is too late....If anyone cannot see this plainly, well, I pity you for your unwavering loyalty to the one's who would make themselves masters of you and life...

Me, be a serf, never....

And we see this happening already with senior citizens. Liberals for decades have courted seniors and showered them with entitlements in exchange for their votes, haven't they? But now look at what is happening: The libs after all these many years have successfully created a huge Entitlement Monster, which has now become a huge millstone around libs' necks!. The Monster has lost much its political usefulness for more reasons than one. This particular Entitlement Monster is putting too much drain on the economy, we are told. Now, the state wants to implement drastic cuts to their medicare entitlements. The seniors naturally balk at such an idea. You might as well have told them that their SS checks were going to be cut in half! (Don't laugh: That NY Slimes blog thinks seniors already make too much money, so a cut in SS benefits would not necessarily be out of the question!)

I forget who said it, but it goes along these lines: A government big enough to give you everything you want (which was the case with seniors) is also big enough to take it away (which is what the state now would want to do). Seniors have become the state's Frankenstein monster that has gone out of control. So, now the state wants to start destroying the very monster it created! Mega, mega megabytes of irony here.

But here's the really sad part in all this: You'd think that libs would wake up and see what is going on. You'd think that the trashing of seniors would send up numerous warning flares and that people would realize that if the state can do this now after all these years, what is our future going to be like? How is the government going to treat us down the road when times and demographics change? But no! The libs prefer to wallow in their dark ignorance and cuddle up even closer to and embrace more tightly the deceit that lies within them.

Boxcar

[Tom]

So far, the only shovel ready projects Obama has delivered have been snow removal.

[johnhannibalsmith]

You forget about a couple of the piles of shit that have been mucked out of politics in the last six months. All we need are more shovelers.

[Valuist]

2011 will be worse than 2010. That's when the tax cuts expire and we will do the old double dip recession. Wait and see.

[acorn54]

basically what we have in this country is the blind leading the blind off a cliff

[DRIVEWAY]

So far, the only shovel ready projects Obama has delivered have been snow removal.

Unfortunately, the snow plows are ready to roll in Miami.

[boxcar]

Unfortunately, the snow plows are ready to roll in Miami.

You may very well be right for a change. :) This is the coldest winter on the Gold Coast of Florida in memory. In fact, some natives from here have told me the same thing. They cannot recall when it has been so cold for so long.

A typical cold front down here may last two or three days, although they can also be as short as one day. But this year the cold fronts have been numerous and have lasted for several days at a time. I can actually count the times on one hand that I've had to cut the grass since Thanksgiving.

Boxcar

[Leonard]

You may very well be right for a change. :) This is the coldest winter on the Gold Coast of Florida in memory. In fact, some natives from here have told me the same thing. They cannot recall when it has been so cold for so long.

A typical cold front down here may last two or three days, although they can also be as short as one day. But this year the cold fronts have been numerous and have lasted for several days at a time. I can actually count the times on one hand that I've had to cut the grass since Thanksgiving.

Boxcar

Where is that global warming when you need it :confused:

[boxcar]

Where is that global warming when you need it :confused:

You need to get up to speed: Cold weather and even unusually cooler climes are both caused by man-made global warming. :rolleyes:

Boxcar
P.S. Ditto for unmelted ice packs, icebergs, glaciers, etc.