Great Depression on the way?

[Exengineer]

Peter Yastrow, market strategist for Yastrow Origer has told CNBC that we are "on the verge of a great, great depression." Certainly seems possible, given the economic signs. With interest rates so low for so long now, we should be experiencing the greatest economic expansion since the end of World War II. Construction, manufacturing and hiring should be at all-time highs. None of that is happening anywhere in North America. Unemployment should be below 3% by now. This is the greatest threat to national security, not some bearded Taliban warriors in the mountains of Waziristan. If the economic system fails catastrophically, we can say good-bye to the political system that supports it and welcome the New World Order (tyranny and dictatorship).

http://www.cnbc.com/id/43236764

 

[Capt Worley PE]

There are alot of folks who can't move because they can't sell the house and make enough to pay off the note. these people are basically anchored to a location and can't move to take a job. I wonder how much of an effect this is having.

The economy doesn't look good at all...

 

[Slugger926]

It doesn't matter how low the interest rates are if we are regulating ourselves to death.

Eliminating regulation, and only looking at salary difference, a company can make twice as much by off-shoring to SE Asia. Throwing our regulations into the mix, and that multiplier jumps to 11 to 1.

There is more to the economy than salary, interest rate, and taxes.

It is government's fault we are in this bind.

 

[Flyer_PE]

^You mean it costs money to both enforce and comply with all those well meaning regulations we inflict upon ourselves? Dammit!

Next you're going to tell me that having the world's highest corporate income tax rate is causing us problems too.

 

[MA_PE]

I hope not.

I hope the Great Depression occurs in Vancouver on Wednesday night when the Bruins win Game 7.

 

[snickerd3]

^ still can't get the games, even on NBC or whatever broadcast channel it was supposed to be

 

[Dark Knight]

I hope not.
I hope the Great Depression occurs in Vancouver on Wednesday night when the Bruins win Game 7.

There is one going on at Miami right now.

 

[Capt Worley PE]

Unemployment rate back up to 9.2%...

The unemployment rate climbed to a six-month high of 9.2 percent, even as jobseekers left the labor force in droves, from 9.1 percent in May.
"The message on the economy is ongoing stagnation," said Pierre Ellis, senior economist at Decision economics in New York. "Income growth is marginal so there's no indication of momentum.

http://www.cnbc.com/id/43682730

 

[willsee]

GE is doing massive hiring in Louisville

Unfortunately they can't find qualified people (so I've been told) or people willing to work there

 

[maryannette]

I think it is worse now than in the 70's and 80's.

 

[Capt Worley PE]

I think it is worse now than in the 70's and 80's.

I'm thinking the same thing...the only thing missing is the crushing interest rates.

 

[momech]

I have a new hero!

http://www.mediaite.com/tv/cnbcs-rick-sant...r-debt-ceiling/

 

[Guest]

There is more to the economy than salary, interest rate, and taxes.
It is government's fault we are in this bind.

I agree there is a lot more to the economy than salary, interest rate, and taxes - how about taxing wealth rather than income because there is a clear difference.

Also, I will agree that (lack of) government leadership has contributed to this problem. However, I believe you will agree that with any failure that it doesn't consist of a singular failure mode - typically there are numerous branches acting in concert that brought about the failure. In this case I do believe that the government is complicit with keeping fear at an all-time high - fear allows you to advance your agenda when sweet-talking doesn't.

GE is doing massive hiring in Louisville
Unfortunately they can't find qualified people (so I've been told) or people willing to work there

Isn't Louisville like the new wild west? Would you really want to move to Louisville?

I think it is worse now than in the 70's and 80's.

Mary, I believe that things are worse today than they were decades ago despite how critical those crises were - at least national leaders pulled together to avert crisis and form solutions. It seems today that statemanship and working towards the common good have given way to acrimony and fear. I shudder to think what the next decade will bring.

JR

 

[Master slacker]

I shudder to think what the next decade will bring.
JR

Hopefully a paid-off house. The government can't take that from me. At least not yet...

 

[Capt Worley PE]

I shudder to think what the next decade will bring.
JR

Hopefully a paid-off house. The government can't take that from me. At least not yet...

Don't pay your property tax and see how well that works.

 

[wilheldp_PE]

I shudder to think what the next decade will bring.
JR

Hopefully a paid-off house. The government can't take that from me. At least not yet...

Two words...imminent domain.

 

[Master slacker]

If that were to happen, I'd be posting from jail and at least one less politician would show up for work forever.

 

[Capt Worley PE]

I shudder to think what the next decade will bring.
JR

Hopefully a paid-off house. The government can't take that from me. At least not yet...

Two words...imminent domain.

Good point. They could take his house and give it to a developer to build something that would generate more property tax income.

 

[picusld]

Or they could claim that the stormwater running off your property is polluting the water, force you to install a stormwater basin or seepage pit, and then force you into a permanent access agreement so that they can come on your property whenever they want.

But that would never happen...

wait a minute...