Economists: Pre-Recession U.S. Economy Is ‘Not Coming Back’
- Posted on February 13, 2012 at 9:01pm by
Becket Adams
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“The economy that we had before the recession is gone,” said Kenneth Goldstein, an economist for the Conference Board, a group that provides economic and business advice and research to its member companies.
“It’s not coming back.”
The U.S. economy is being transformed into something new; something where businesses invest less and consumers spend fewer dollars, Goldstein told The Huffington Post in an interview.
What would be necessary to return the country to its pre-recession growth?
According to Goldstein, “businesses, consumers and the government would need to spend at least $1 trillion more than they are likely to spend in order for the economy to return to its pre-recession growth rate.”
Of course, no one is going to invest that kind of money to jumpstart the economy, since consumers are nervous about spending and businesses expect a lower return on their investments.
“Where’s the money?” Goldstein asked.
The main problem is that consumer expectations for the future have all but deteriorated, Goldstein said.
“They suffered from such a large economic shock in 2008 and 2009 that many older people now do not expect to return to work, and many younger people no longer expect to make that much money,” he continued.
Naturally, Americans have cut back on spending.
“Consumers are indeed saving more than they did before the recession,” writes the HuffPo’s Bonnie Kavoussi, “They saved 3.7 percent of their incomes at the end of 2011, in contrast to less than 2 percent of their incomes during all of 2005, according to government statistics. Their wages, when accounting for inflation, actually fell in 2011”
Consumer confidence has been stuck at recession levels for the past four years, according to the Conference Board’s Consumer Confidence Index.
“Like consumers, businesses are spending less because they have lowered their expectations of future income,” Goldstein said. “While businesses could expect returns of 8 to 12 percent on their investments before the recession, they are now expecting returns of about half that amount. If they raise prices too much, consumers will choose cheaper alternatives.”
However, despite these bleak areas, Goldstein believes there is one tiny, sliver of hope: U.S. exports. Exports have actually helped the U.S. deal with its sluggish economy.
But even that small sliver of hope is short-lived when one takes into account the eurzone’s current financial debacle.
As reported earlier on The Blaze:
Consider the $240 billion that the U.S. made from exports to the EU and compare that to the $91.1 billion that the U.S. made from China. It would stand to reason that a total collapse of the eurozone could have disastrous economic repercussions in the U.S.
So, although U.S. exports are contributing to an otherwise staggering economy, it is all contingent on whether or not the eurzone is plunged into total and complete ruin. That’s not very reassuring.
“Now that people’s homes are often worth less and credit is expensive, people are relying on their wages to be able to spend money — and their wages have barely been growing,” said Lynn Franco, director of the Conference Board’s Consumer Research Center.
Economic growth will be slower than it was before the recession for the near future, since consumer spending comprises two-thirds of the U.S. economy, according to Franco.
“If you just take a look at the fundamentals alone,” she said, “you cannot get back to the levels of consumer spending that we had prior to the crisis.”
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Comments (155)
TSUNAMI-22
Posted on February 13, 2012 at 10:39pmEconomists: Pre-Recession U.S. Economy Is ‘Not Coming Back’
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Really? Nahhhhh. Everything is lollipops and unicorns, just ask heir Obama.
Billions of Rubles ….er, I mean dollars are being created through new small businesses……..like lemonade stands.
Report Post »TheCoffinMaker
Posted on February 13, 2012 at 11:25pmHere in Raleigh, most of the businesses utilize illegal alien labor to stock shelves and flip burgers.
The City also hires American contractors who utilize illegal alien labor to fix our streets.
Most of the households utilize illegal alien labor to have their lawns mowed and toilets scrubbed.
When the average Joe pays his taxes or buys an item at a store, the owner profits and the rest gets wired to Mexico.
Hasta la vista,baby!
Report Post »nelbert
Posted on February 13, 2012 at 11:38pmWell, I can’t imagine the Obama economic plan bringing back a pre-recession economy, but I’m not as gloomy as Goldstein. Economists are as accurate as weathermen. They missed predicting this recession (some claimed knowledge after the fact), and I see no reason to think their prognostication powers have improved.
Report Post »TSUNAMI-22
Posted on February 13, 2012 at 11:50pm@ nelbert
Peter Schiff predicted this current state of affairs and is predicting even worse coming shortly. Schiff turned me on to becoming a prepper well before Glenn ever aired on FOX.
http://www.youtube.com/user/schiffreport?ob=4
Report Post »West Coast Patriot
Posted on February 14, 2012 at 12:17amTsunami-22, Peter Schiff is who we should be listening to along with Ron Paul. Paul and Schiff are friends and I am positive that Schiff would be Pauls economic advisor if he were to win. Watch this video: http://www.youtube.com/watch?v=MnekzRuu8wo
Then watch this: http://www.youtube.com/watch?v=INvKPYdTs3E&feature=related
Paul predicted all of this along with Peter Schiff and now the prediction is the dollar will fall.
Report Post »nelbert
Posted on February 14, 2012 at 12:19am@Tsunami-22: Schiff is one of the brighter financial folk out there, and I certainly admit things look pretty spooky right now. But my point is that often when experts speak in absolutes, they end up eating a healthy plate of crow.
Report Post »OurFoundingFather
Posted on February 14, 2012 at 12:24am* just like those money making lemonade stands – only those with permits of course!
Report Post »cuinsong
Posted on February 14, 2012 at 2:59amWhy do they always think the answer is to throw money at the problem!
Report Post »It makes no cense at all. Get the government out of the way stupid!!!!
Song for you called “Don’t Get Him Started”
http://www.reverbnation.com/play_now/song_11916731
louise
Posted on February 14, 2012 at 4:07amI wonder how a 0% income tax sounds to businesses? Would that cause an economic explosion? Ron Paul thinks that this would be the best way to put America back to work. A WSJ economist wholeheartedly agrees with him.
http://www.youtube.com/watch?feature=player_embedded&v=BjCq6woC_hg#!
Report Post »drst4scss
Posted on February 14, 2012 at 5:33amHope you are wrong… The police and the IRS have cracked down on lemonade stands!!!
Report Post »drst4scss
Posted on February 14, 2012 at 5:37amNope, you are wrong… The Police and the IRS have cracked down on lemonade stands!!!
Report Post »Detroit paperboy
Posted on February 14, 2012 at 6:58amThe new reality in Obamaville…..everybody is broke unless your a lazy government union slug, then your safe….
Report Post »B_Will_Derd
Posted on February 14, 2012 at 9:08amThe economy pre-bust can only come back if there is another bubble….so isn‘t that a good thing if it doesn’t come back? Haven’t most realized that the boom economies over the last century were the result of artificial stimulus usually due to governmental interference? We do the rah rah, America is the greatest economic engine in the history of the world as we ignore the piling on of debt to pay for it. Someone has to make the case that the high standard of living isn’t realistic and we must start living within our means. That means a lower quality of healthcare, retirement, military, among other things. If we can‘t or won’t pay for it, we have no right to expect it as some sort of entitlement because we were born in America.
Report Post »michael48
Posted on February 14, 2012 at 9:19amoutlook not real good at my buss. for useless IDIOTS “dems need not apply”..need working folks not fat , big mouth know it alls…
Report Post »mikem1969
Posted on February 14, 2012 at 9:29amThis is by liberal progressive design. They do not want the economy strong again, they want to control the masses in every single aspect of their lives. Until we root out every single liberal and progressive from any government position from local, state, federal, and even civil service, we can’t hope to see a thriving economy again. We must rid the country of them once and for all.
Report Post »Freedomluver
Posted on February 14, 2012 at 10:19amWhen are all of you going to figure out that it is our BANKING system that is at the heart of the problem?
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
Thomas Jefferson
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people’s minds.”
Samuel Adams
Return to the founders wisdom, or we will fail.
Ron Paul 2012
Report Post »Freedomluver
Posted on February 14, 2012 at 10:35am@nelbert
The founders pointed the way and it worked while their words were adhered to. The abuse of the “commerce clause” and the so called “general welfare” have gone a long way to drive the nails into our coffin.
It is beyond obvious that Obama, Romney, Santorum, and Gingrich don’t comprehend this fact based on their voting records.
How some folks here on the Blaze can now fall for their empty rhetoric is beyond belief. If one considers FDR to be a conservative, I suppose they are as well, but this is not the nation our founders envisioned.
There is only one candidate who has been clear and consistent, while trying to uphold the founders vision… and that is Ron Paul.
Santorum, Gingrich, and Romney all talk a good game, but they are shape shifters who will say anything at any time to tickle the ears of those with short memories, and there is no way they can fix this mess.
Perhaps no one can, but at we do have one choice that at least gets it and has been fighting this corruption for his entire career.
Ron Paul 2012….or bust.
Report Post »JRook
Posted on February 14, 2012 at 11:06amFor those of you who can follow this here is what has happened since 1980′s. In the 1980′s Reaganomics and his recovery was driven by the growth in 2 wage earners and the consumption resulting from excess discretionary income. In the 1990′s the economy was driven by consumption derived from capital gains from the surge in stock markets. In 2000s the economy was supported by consumption based on leveraging of real estate and other assets. Real wages have fallen since the 1980s due to outsourcing by companies who don’t care about the US. So the collective P&L is depressed. The collective balance sheet is depressed due to the asset and leverage based consumption. The result manifests itself as the concentration of wealth and lower consumption by the larger middle class. This is what is the economic landscape. Without adequate and growing purchasing power in the hands of the largest consumer group possible decline is inevitable and will accelerate.
Report Post »Freedomluver
Posted on February 14, 2012 at 11:56am@JRook
If we would abandon Keynesian economics and all of it’s artificial manipulation and adopt something more in the line of the Austrian School of economics we could finally start to fix this disaster.
The invisable hand is the only system that works, and the only one who gets this is Ron Paul.
The whole FED failure and our mainstream candidates unwillingness to admit it is not helping, and if they end up being elected…stick a fork in us.
Report Post »rtist542010
Posted on February 14, 2012 at 12:23pm. . and remember to move stuff around too.
Report Post »GroundZero is Nuclear Demolition x3
Posted on February 14, 2012 at 2:20pm@TheCoffinMaker As a Wake Co. resident, I concur your statement to be fact. I see it everyday especially in Cary.
Report Post »whatthecrazy
Posted on February 13, 2012 at 10:27pmDear God i hope you people are happy that you placed your vote for a black man becauce he was black and you didn’t even hear all that he said he was going to do to us because it just felt good to vote for the first black President.Well i hope you realize your kids and grandchildrens lives are just as screwed as ours. Oh and we all appreciate your good judgement.How does being poor sound to ya now? Oh and do us all a favor and stay home November unless you finally educated yourselves, as you have done enough already!!Spank you little helpie helpers……………………. .
Report Post »ModerationIsBest
Posted on February 13, 2012 at 11:11pmOur economy has been based on confidence and consumption for decades.
If some event happens that forces to lower the amount we consume, our economy will start to falter, which in turn hurts our confidence, which causes people to consume less, which hurts our economy, which hurts our confidence, etc, etc, etc.
An economy based around 70% consumption will eventually collapse in on itself.
Report Post »mastice
Posted on February 14, 2012 at 12:41am@ModerationIsBest
Very well said!
Report Post »readytostand
Posted on February 14, 2012 at 1:05am@ MODERATIONIS BEST — You are incorrect !! Our economy did not start to falter by event only ! What put the nail in the coffin was absolutely lack of confidence ,coming from the knowledge of certain impending doom of new, and higher taxation, and regulation on private business !! There is your lack of confidence ! Your economy will not improve, nor will unemployment # improve, until this over bearing ,Socialistic administration is long gone!! This country has lost a huge amount of it’s wealth in the last 4 years , along with massive debt ! WE are gonna be hurtin for a while ,the way i’m seeing it !! PRAY – WORK HARD – and TAKE CARE of YOUR FAMILY !!
Report Post »fixer
Posted on February 14, 2012 at 7:47amIf you voted for obama in 2008 to prove you weren’t a racist,Vote for anybody else in 2012 to prove you aren’t an IDIOT!
Report Post »TAXEVERYONE
Posted on February 14, 2012 at 8:19amWhite Catholics elected this Antichrist.
Report Post »philipzhao
Posted on February 13, 2012 at 10:22pmUS economy will come back once the made-in-Kenya President steps down !
Report Post »readytostand
Posted on February 14, 2012 at 1:14amOur pre- recession economy isn’t coming back ?? NO SH-T SHERLOCK !! Wow who’s the EINSTEIN economist that figured that out ! How many millions in research did it take to come up with this Bright eyed analysis ???
Report Post »freedom for sale
Posted on February 14, 2012 at 2:22amSorry, its never coming back.
Report Post »Mil Mom
Posted on February 14, 2012 at 2:23am@philipzhao
Posted on February 13, 2012 at 10:22pm
US economy will come back once the made-in-Kenya President steps down !
Report Post »***
With his czars, advisers, judicial interference, AND WE REPEAL obamacare, and 99.9 percent of the regulations which have gone into place in the last 30 yrs. Then if we really want to see the economy take off, go Flat Tax, and do away with EVERY AGENCY OR BUREAU WHICH CAN‘T PROVE IT’S CONSTITUTIONAL AUTHORITY TO EXIST! Oh, and let’s bring back funding for National Defense, IT IS CONSTITUTIONALLY MANDATED!
Gonzo
Posted on February 14, 2012 at 8:32amI agree. They were saying the same kind of stuff when Carter was POTUS. It took one good man to turn the whole thing around. Now, if God will still bless us with a man like that is another question.
Report Post »NC1
Posted on February 14, 2012 at 8:45amRight on Gonzo.
Report Post »lukerw
Posted on February 14, 2012 at 1:19pmGovernment Regulation (including ObamaCare) is suppressing the Economy… along with Taxation… where Growth will produce more Revenue!
Report Post »riverdog1
Posted on February 14, 2012 at 4:56pmwell the last 30 years have been run by the “tricle down let the corporations do what they want and send jobs overseas”. you all love the massive corporations and banks that led to this economy, deal with it.
Report Post »candcantiques
Posted on February 13, 2012 at 10:21pmAnyone want a REAL plan?
Report Post »Many companies have moved overseas because of cheaper labor. Good for them. Get out stay out. The owners of the companies can get out too. We will start over. END ALL IMPORTS. Sure it’s gonna be he!! but it’s the only way to restart real business in this country. Building business in the USA when we can import cheaper wont work. Solindra showed us that. We the common man knew that, so did Obama.
Next problem. I agree with unions. What I don’t agree with is the union bosses and the lazy union workers. Prior to unions men worked as slaves in this country. Unions brought men out of that slavery and gave them a real chance of prosperity. Then came the greed of the union bosses. The union bosses got the workers paid no matter what they did and the workers got lazy. I was raised to give a days pay for a days work. I then joined a union and was told I was working to fast that I needed to go to sleep somewhere for a week. Did I want the job to be done on time? We would all miss out on the overtime then. All corruption and no pride in the work done. Just go collect a paycheck with the union power behind them so they couldnt possibly be laid off. I worked at Bethlehem Steel Shipyard Sparrows Point Maryland. Guess what. That attitude led them into bankruptcy. Where are the morals, the pride. As a friend of mine from maryland wrote in a song, ” It’s all about the money, it’s all about the fame, it’s all about the what have you done for me lately”
KAdams
Posted on February 13, 2012 at 11:14pmThe NAFTA/GAT agreements. What wonderful pieces of sh!… legislation.
Report Post »Boycott the Media Let the People Decide
Posted on February 13, 2012 at 10:17pmWe would come back to it if more people studied Austrian Economics and demanded only elected politicians who are fluent in it.
Report Post »TSUNAMI-22
Posted on February 13, 2012 at 10:40pm“brianless”?
Report Post »smalldog
Posted on February 13, 2012 at 10:49pmWhat do you call crony capitalism? Nepotism? Favoritism? Excessive government regulation?
Why not end the income and estate taxes and return to funding government on alcohol/drug taxes and tariffs?
End the Fed?
Progressive economics are failing. Why shouldn’t every American have the freedom to rise?
Report Post »Freedomluver
Posted on February 14, 2012 at 11:16amExactly!
Keynesian economics is a proven failure, and Romney, Santorum, and Gingrich simply won’t admit it.
There’s a good reason why the bankers who bought Obama have now bought Romney.
Only Ron Paul gets it.
Report Post »sb36695
Posted on February 13, 2012 at 10:17pmYou mean the FAKE economy is not coming back?!?! I wonder how long it took the “experts” to figure that out! hahahaha
Report Post »Gypsy123
Posted on February 13, 2012 at 11:30pmYou are right on
Report Post »Snowleopard {gallery of cat folks}
Posted on February 13, 2012 at 10:10pmThese people who are shocked and want the old economy to come back are right – it will not be the way it was; once we can get Obama out of office and the government off the back of Americans then our abilities to recreate our nation will take off like wildfire and we will make a new economy.
Report Post »banjarmon
Posted on February 13, 2012 at 10:54pm“Get Obama out of office and the government off the back of Americans then our abilities to recreate our nation will take off like wildfire”
ABSOLUTE RIGHT ON…“Snow” Well Said!!
Report Post »candcantiques
Posted on February 13, 2012 at 10:06pmI am not a rich man, far from it. I do have a backer though. If I find good merchandise that can be resold for a profit he pays for it and we split the profit. He’s a good guy that I have been working with for about 7 years. Guess what my biggest problem is. THERE IS NO MERCHANDISE IN FLORIDA. Heck I am looking in Alabama and Georgia but everyone wants 100% retail. Why? Cause it’s all gone folks. What little people have left is the last of it. I’m not kidding folks. If your from Florida you know what I am talking about. Acording to Huff Po though we have been saving more of our paychecks! Get out of the office into the real world and look around.
Report Post »Stephen Markovich
Posted on February 13, 2012 at 10:05pmWork hard, stay positive have Faith, and prepare For the worst. No one gonna take away our attitude. We have little possibility of affecting national policy. We have total control over HOW and WHAT we do in life. I beliebr it‘s going to crash part I’d gas hit the 4 dollar mark n consumers cut back..former Shell CEO sees 5 dollar gas this year. 5 sends economy into depression if the price lingers thru simmer inti fall.
Still all conjecture no one knows. look at Baltic dry good index and ceridian pulse of commerce…our government lies so we find facts.
Report Post »Citizen1
Posted on February 13, 2012 at 9:51pmSomebody needs to dig deep and really screen the Obama budget carefully….
My hunch is that there is probably $5 BILLION “Ear Marked” for HIS royal re-election.
I’ve always wondered what living under a King would be like… Now I know.
Report Post »Mil Mom
Posted on February 14, 2012 at 2:30am@CITIZEN1
Report Post »re : I’ve always wondered what living under a King would be like… Now I know
***
How right you are, he wants American citizens “under” as in “Boot on the throat”. Remember that phrase?
2theADDLED
Posted on February 13, 2012 at 9:45pmThe main problem is that consumers’ expectations for the future have all but deteriorated, Goldstein said.
Report Post »Take Michigan for example business’s left and the Governor just shifted the taxation on those companies that remained and the people of the state. That drove the companies and the people that remained to a much faster downfall. We are just shifting the tax base around and not creating anything that will prove to be beneficial to grow the economy. No one will have the wealth to rebuild.
NOBALONEY
Posted on February 13, 2012 at 9:44pmA Trillion here a trillion there. Goldstein, Obama, and Congress are all out of their collective minds! Real budget cuts across the board are needed, except for defense, because they’ve already been hit as planned by the the President and the Progressive leadership of Congress with their set-up ‘committee of 12’.
Report Post »Again, Obama submits an unrealitic budget. Does it on purpose! Fundraising, campaigning are top priorities! ‘Truth Teams’ propaganda must be fed, so he can put the election to bed.
democritusoilder267
Posted on February 13, 2012 at 9:37pmThere are many reasons the economy is a mess here and around the world. It is not a democrat or a republican thing, etc. What I see mostly is that people are used to cheap this or cheap that. I’m barely old enough to remember stores other then Walmart and k-mart. You can do a survey asking people their opinions on what they like to buy and what they would not. Someone will go to Walmart for the cheaper prices; which would make Walmart more popular for both business and consumers. Would you go to a store to buy one expensive pair of clothes compared to the prices at Walmart. Yes, a lot of the items are terrible compared to others. But in the end what matters is that you saved a buck compared to change. Everything is expensive these days. Government and crooked business will not help us. We can take into our hands and shape our economy. It is blessing to get by in life but one were we suffer also.
Report Post »Mil Mom
Posted on February 14, 2012 at 2:42am@Democritusoldier267
Report Post »re : Yes, a lot of the items are terrible compared to others. But in the end what matters is that you saved a buck compared to change. Everything is expensive these days. Government and crooked business will not help us. We can take into our hands and shape our economy. It is blessing to get by in life but one were we suffer also.
****
If you move around the country a little, you see that there are MANY people out there who don’t have the choice of Walmart or buy more expensive, FOR THEM IT’S Walmart, type store, or do without. There are MANY truly hurting people out there who make just over the amount to qualify for government assistance, so instead, they pay a huge amount of their spendable income to various seen and hidden taxes; then they have to find some way to survive on what’s left! They don’t have the choice of quality or change back, because by the time they’ve bought anything at all, the change left is gobbled up by the raises in the electric bill, and gore tax on the phone bill, add the gasoline surcharge on all goods and services, they‘re just trying to hold on till b o ’s gone and they can hope and pray for the ability to earn more!
martinez012577
Posted on February 13, 2012 at 9:34pmThis is shocking!!!
No really it isnt.
This is a perfect example of why voting for a progressive R or D gets you the same results. Obama hasnt changed the polices of Bush. If Romney, Santorum, or Gingrich get in, they wont change the policies of Obama. This is how we are 16 trillion in debt!!!!
Wake up!!!
Ron Paul 2012
Report Post »jb.kibs
Posted on February 13, 2012 at 9:44pm4God, 4Liberty, NonDebt Currency and a Constitutional Republic,
Report Post »Vote Ron Paul.
Mil Mom
Posted on February 14, 2012 at 2:48amIf Secretary of the Treasury were an elected position I’d vote Ron Paul in a heartbeat, but WE LIVE IN TOO DANGEROUS A WORLD TO PULL ALL OUR MILITARY WITHIN OUR BORDERS AND IGNORE WHAT HAPPENS TO EVERYONE ON THE OUTSIDE. It would take only 1 electronic pulse attack, and our entire civilization would be knocked off the power grid. THAT MEANS ALL OUR MILITARY WOULD BE AS DEFENSELESS AS WE WOULD BECAUSE ALL WEAPONRY USES SOME SORT OF ENERGY AND/OR SATELLITE GUIDANCE SYSTEM! We need a military presence outside this country to be able to come to our assistance if this IS what Adman&jab is planning for us!
Report Post »Winkycat
Posted on February 13, 2012 at 9:31pmThe issue of whether the US economy could return to pre DEPRESSION times addressed in this article is too narrow. It only takes the issues of this economy and not addressing that in this global economy where our economy is linked to others the downfall of Europe alone will have a drastic effect on our economy. Many of our commercial banks hold not just American bad commercial debt but also European bad commercial debt. The joint collapse of the EU and the US would be the biggest collapse of a consuming market which then would effect export driven economies like China and India (14 largest exporter) including Japan and all developing and developed economies. It would be a world wide crisis. Ironically the nations that would survive this crisis are those so backward that they are still to be linked to the world economy. Nations deep in Africa and South America just by their backwardness would survive the global crisis.
Report Post »rtlane28
Posted on February 13, 2012 at 9:30pmDon’t be fooled by this crap. The real reason the pre-recession economy is never coming back is because Barack Obama doesn’t want the pre-recession economy to come back. The real reason business‘s will be getting smaller returns on their investments is because Barack hussein Obama wants business’s to get a smaller return on their investments.
Read the following and then ponder the fact that Obama has created hundred upon hundreds of new regulations along with hundreds of new government agencies. All these regulations and agencies will do is make it harder and more costly to do business in this country.
“President Obama sent a letter to House Speaker John Boehner (R-Ohio) Tuesday detailing seven new regulations that would each cost the U.S. economy more than $1 billion annually. With regulatory costs for American businesses of at least $38 billion per year and compliance costs of $100 billion per year, the seven proposed regulations would target transportation and the environment.”
read the rest here…..
Report Post »http://thenewamerican.com/economy/commentary-mainmenu-43/8820-obamas-seven-new-regulations-would-cost-us-economy-billions
Deacon1
Posted on February 13, 2012 at 11:18pmI really don’t think it will ever come back , with the exception of self-made folks that find their own niche to make money. The trouble is, no one trust government anymore and even if government backs off the next election, sooner or later another Obama will come around and rob everyone blind and make so many regulations it will choke us and people whom invest know this.
Report Post »Lets face it, at one time the USA used to be the freest nation on earth and today you can get more freedom in China. and thats just sad.
fixer
Posted on February 14, 2012 at 7:52amThe Tree of Liberty is getting MIGHTY thirsty. It’s about time to water it real good!
Report Post »flyoverbob
Posted on February 13, 2012 at 9:30pmDon’t believe everything these experts save,how many times have they been wrong?As long as people are free to own property and have the will to try to better their lot in life there is hope.
Report Post »I was in the home building business when intrest rates went to 21% and the experts said we would never see single digit intrest rates again.
If the world economy collapses we will all be starting over.What country would you prefer to start over in? I think all the eggheads only rely on what they see on paper,they give no credence to the human spirit.
MCDAVE
Posted on February 13, 2012 at 10:08pmYou have a good point, One thing people may not be seeing is if the economy totally collapses the government is going down with it..The sun will still rise the next day..we can and will start over.
Report Post »CLS
Posted on February 13, 2012 at 9:27pmA frigg’n cheerleader for Obama. Rah, rah, rah! Dolt .. with CAPITAL D.
Report Post »MS-GlenNBC
Posted on February 13, 2012 at 9:26pmThat’s BS
Juan Williams says that most economists say that the Economy is showing signs of improvement.
All economic indicators prove this.
Ha!
Report Post »Sirfoldallot
Posted on February 13, 2012 at 9:55pmJuan W. is running with the wrong crowd. So does he really know ?
Report Post »EndTheFedNOW
Posted on February 13, 2012 at 9:26pmFolks,
Its not coming back. This is what agenda 21 does. This is what a the republicans and dems have givin us. We need to wake up and come together. I beg of you to read up on agenda 21. They are bankrupting our economy on PUPROSE! There is a NWO
Report Post »mr molotov cocktail
Posted on February 13, 2012 at 9:24pmtrue value has been gone since ronald reagan expect- no recovery till the stockmarket goes back to early reagan levels! its been boom bust because of supplyside economics…..
Report Post »stockmarket 5000…… then it will slowly come back but its never going to come back well enough during our lifetime…if you are 30ish you are fhunked ~
seeker9
Posted on February 13, 2012 at 10:04pmAre you serious? The Dow is near 12,900. The record was 14,146 during the GW Bush admin. Dow 15,000 was on the cover of a recent financial rag. There are to many variables to make firm long term predictuions. My guess for now is a late Feb sell off. Maybe Dow 13,000. Last quarter of this year into 2013 there is a high probability of a sharp pull back and maybe another recession. A boat load of tax increases is the cause. Cheers.
Report Post »rush_is_right
Posted on February 13, 2012 at 10:06pm“levels! its been boom bust because of supplyside economics…..
”
the only reason we ever boomed was because of supply side economics…and we‘re busted thanks to your savior’s fascist policies.
Report Post »West Coast Patriot
Posted on February 14, 2012 at 12:11amMr. Molotov, I read a post of yours where you said we have been on Austrian Economics for thirty years. I went to find a clip to post for you so that you could learn something. When I came back and refreshed, that post was gone. How does that happen? Are you a part of the Blaze staff? I certainly hope not. But anyway, here is a link so you can understand Keynesian Economics vs. Austrian Economics: http://www.youtube.com/watch?v=INvKPYdTs3E&feature=related
Feel free to click on the thumbnail videos so you can learn more. Start researching Peter Schiff and his ideas of what the economy should be doing. We are about to enter a time when our dollar will be as worthless as Confederate money. Oh happy times that will be. Everyone should be, not only preparing themselves, but all of their family members to what is coming. It is coming as Americans, for the most part, refuse to wake up to the dire straights we are really in. We are in imminent danger at this point and time.
Report Post »DD313
Posted on February 14, 2012 at 1:57am@West Coast Patriot: Actually. the U.S. dollar has fallen below the Confederate dollar insofar as the latter routinely brings more than face value at collector auctions. This is a rather recent phenomenon.
Report Post »louise
Posted on February 14, 2012 at 4:40amWest Coast,
Report Post »I agree.
After the dollar was taken off the gold standard, it was Nixon who said, “We are all Keynesians now.”
Lovely.
The Keynesian business model has brought America to her knees.
Now, I see people are getting excited (again) over a 13-15,000 Dow. In this climate, folks, that is not anything to be excited about. It is a warning. It is another bubble.
This is the reason we need Ron Paul as our President. His economic policy to restore America is right. The economic solution to a sound America is also intertwined with sound foreign policy. They go hand in hand. There is no one else running for POTUS who knows how to navigate these waters. If our elected officials refuse to heed the warnings, prepare for horrific times ahead.
bullcrapbuster
Posted on February 13, 2012 at 9:21pmA measley trillion to get the old economy back. That nuttin, Obama has that in his a$$ pocket.
Report Post »nighttrainno9
Posted on February 13, 2012 at 9:19pmYou 100% right, we will never see that kind of prosperity again.
Report Post »First of all, some 117 govt. around the planet are following
AGENDA 21, including ours. Under that only the bankers and polititions
will prosper. There will be an exceedingly rich class and a poor class.
The middle class will be gone and thats not to mention that our
manufacturing base is gone so ther is no place for a better GNP
to come from. Most of us are going to be poor, get used to it.
candcantiques
Posted on February 13, 2012 at 9:11pm“Consumers are indeed saving more than they did before the recession,” writes the HuffPo’s Bonnie Kavoussi, “They saved 3.7 percent of their incomes at the end of 2011″
REALLY? SAVE WHAT? What money are we saving. WE DONT HAVE ANY MONEY. Typical Huff and Puff from the Huff Po. IDIOTS!
Report Post »LibertyGoddess
Posted on February 13, 2012 at 9:18pmAgreed.
You cannot help the poor by destroying the rich.
You cannot strengthen the weak by weakening the strong.
You cannot bring about prosperity by discouraging thrift.
You cannot lift the wage earner up by pulling the wage payer down.
You cannot further the brotherhood of man by inciting class hatred.
You cannot build character and courage by taking away people’s initiative and independence.
You cannot help people permanently by doing for them, what they could and should do for themselves.
……..Abraham Lincoln
Report Post »candcantiques
Posted on February 13, 2012 at 9:25pmI am sure it’s obvious that I am an antique dealer. For the past several years I have been buying lots of gold and silver from other dealers as I pay nearly the highest rate in Daytona Florida. Check your area anyone paying $29.00 per gram for 14kt in your area? Guess what. There isn’t any gold anymore. Silver has almost completely dried up. Know what that means? People have exausted nearly everything they have for a little extra money. What money? Where is the money? Who saved it? I know who saved it. THE BANKERS, AND NOW THEY OWN ALL OF THE PROPERTY TOO AND WE ARE BAILING THEM OUT. Yea we the people saved? What a joke!
Report Post »mr molotov cocktail
Posted on February 13, 2012 at 9:26pmdestroying the rich — rich people do not create anything -they inflate and deflate true values-
rich people do not buy products or services people do~
the rich are going to find out- without recycling money that they will lose all their wealth and be hated to boot~!
when people cant afford goods or services what is the point of corporations or being rich~
Report Post »mr molotov cocktail
Posted on February 13, 2012 at 9:29pmLibertyGoddess you are a fricking idiot abe said none of those things take your ayn rand-foriegn economics and get bent
Report Post »MrButcher
Posted on February 13, 2012 at 9:30pm@liberygoddess
Nice quote.
But Lincoln never said it.
William J. H. Boetcker, a Presbyterian minister, said it in 1942.
Doesn’t carry the same gravitas, I know.
But don’t try to rewrite history to suit your ideals…
its unseemly.
cheers
Report Post »candcantiques
Posted on February 13, 2012 at 9:34pmLibertyGoddess
Posted on February 13, 2012 at 9:18pm
Agreed.
You cannot help the poor by destroying the rich.
You cannot strengthen the weak by weakening the strong.
You cannot bring about prosperity by discouraging thrift.
You cannot lift the wage earner up by pulling the wage payer down.
You cannot further the brotherhood of man by inciting class hatred.
You cannot build character and courage by taking away people’s initiative and independence.
You cannot help people permanently by doing for them, what they could and should do for themselves.
……..Abraham Lincoln
The rich cannot help themselves by making the poor to poor to spend.
The rich cannot become stronger by making the weak to weak to care.
You cannot bring about prosperity for all by hoarding all of the money.
You cannot lift the wage earner up by stripping them of everything they have.
The bankers dont care about brotherhood. They care about money.
Character and courage WILL be built if we the middle and lower classes continue to be decimated by the corruption of the upper classes.
You cannot help people permanently by doing for them, what they could and should do for themselves. I agree with this however the people MUST have the opportunity to have a job so that they have the opportunity to build character PROPERLY.
I DO NOT hold with those that believe in sharing the wealth. I hold with those that would fight the corruption of government and the big bankers. I hold with those
Report Post »candcantiques
Posted on February 13, 2012 at 9:38pmI didnt know who said it. I was quoting her. Thank you for the correction.
Report Post »candcantiques
Posted on February 13, 2012 at 9:45pmThe rich cannot help themselves by making the poor to poor to spend.
The rich cannot become stronger by making the weak to weak to care.
You cannot bring about prosperity for all by hoarding all of the money.
You cannot lift the wage earner up by stripping them of everything they have.
The bankers dont care about brotherhood. They care about money.
Character and courage WILL be built if we the middle and lower classes continue to be decimated by the corruption of the upper classes.
You cannot help people permanently by doing for them, what they could and should do for themselves. I agree with this however the people MUST have the opportunity to have a job so that they have the opportunity to build character PROPERLY.
I DO NOT hold with those that believe in sharing the wealth. I hold with those that would fight the corruption of government and the big bankers. I hold with those who WANT a job and NOT those that feel that the rich should support them. There is however a point at which the rich take SO much that it destroys entire economies. That is what has been done to this country. The bankers CLAIM they lost money but WHO IS BAILING THEM OUT? Furthermore who owns all of the property now? Taxes are getting ready to go up and now the Obama administration wants us all to pay a WORLD TAX. WITH WHAT? Sure I could have been a greedy antique dealer and become rich but I never was greedy, still not, never will be. Greed is a sin, no thanks.
Report Post »mr molotov cocktail
Posted on February 13, 2012 at 9:53pmAbraham Lincoln
Report Post »“The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government’s greatest creative opportunity. The financing of all public enterprise, and the conduct of the treasury will become matters of practical administration. Money will cease to be master and will then become servant of humanity.”
SychinLegacy
Posted on February 13, 2012 at 9:09pmIt‘s a good thing it’s not coming back. That economy was a false one created through artificial manipulation of the markters. When you play with fire eventually you get burned and now we’re paying for it. If we tried to do it again we’d only end up in the same place again.
Report Post »mr molotov cocktail
Posted on February 14, 2012 at 12:05amMissouri is full of red-state losers who have – take the most welfare since reagan dollar into the fed dollar out~! lets see how long these missourians last
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