Business

A Double Dip Recession In 2011?

A Gallup poll taken last month showed that confidence in the economy has fallen to its lowest level since March 2009, which was near the low point of The Great Recession.

A Double Dip Recession In 2011?According to 24/7 Wall St., a growing and vocal minority of economists believe that there will be a double-dip recession primarily because of stubbornly high unemployment numbers and the rapidly faltering housing market. The notion of a “jobless recovery” has been around since the recessions of the 1950s and 1960s. It is a concept built on a relatively simple idea: Employment lags during a recession but it is always part of a recovery cycle. Production rises as businesses see the end of a downturn and anticipate improving sales. They are reluctant to hire new workers until the recovery is confirmed, but once it has been, hiring picks up.

The 2008-2009 recession was–if it is indeed over–different from any other because of its depth and its causes. The first trigger was the drop in housing prices, which robbed many people of their primary access to capital. As that access disappeared, so did the availability of credit. Consumer buying power evaporated and businesses cut inventory and production. Joblessness rose. Finally, consumer confidence plunged.

The last downturn was so great that in some months more than 500,000 people lost jobs. The unemployment rolls are now more than 14 million and, perhaps more gravely, over 6 million people have been out of work for over 27 weeks – which means they may no longer be eligible to receive unemployment insurance benefits in early 2012. This segment of the population has already begun to add to the number of indigent Americans and will continue to do so unless they can find homes with friends and family.

The second dip of the recession, according to economists and the federal government, is likely to begin within the next two quarters.

Unemployment claims are running well above expectations, recently passing 400,000 almost every week, writes Douglas McIntyre of 24/7 Wall St. The four-week average of initial claims rose 3,750 to 414,750 this week. August unemployment figures showed the economy added no jobs last month. There is nearly no job creation in the private sector, and public sector employment continues to drop. Real estate prices are still falling, particularly in the hardest hit regions such as California, Nevada, Florida, and Michigan.

The federal, state and local governments are in no position to lend assistance to businesses, most of which lack access to capital. President Obama recently proposed spending $447 billion on job creation, but the Republican drive for austerity may well keep the President’s proposal or any like it from becoming law. Similarly, banks are not prepared to lend to small businesses, especially those with modest balance sheets and relatively low sales.  This presents a problem for employment since companies with less than one hundred workers have traditionally been the largest creators of jobs.

This is what 24/7 Wall St. thinks the double-dip recession will look like:

1. Housing
The cost of homes in the areas where prices have already dropped by 50 percent or more will continue to fall. These regions typically have the highest unemployment rates, local governments are hard pressed to offer basic services, and potential buyers are aware that home prices could drop further. Real estate values in these areas could drop another 20 percent. In the rest of the country, protracted unemployment and the unwillingness of banks to lend would make otherwise attractive all-time low mortgage rates unappealing.

A Double Dip Recession In 2011?2. Unemployment
Unemployment would move back above 10 percent quickly. In the 1982 recession, the jobless rate was over 10 percent for ten consecutive months and reached 10.8 percent for two months. During this period, the manufacturing base had not been destroyed. The economy is now arguably worse than it was in 1982. Many Americans who worked in manufacturing before the recession cannot be retrained, and the factories where they worked will not be reopened. Many compan­­ies have recently adopted a policy of keeping as much of their workforce temporary for as long as possible. This keeps the cost of benefits low and allows firms to fire people quickly and without severance. A hiring freeze by American businesses would contribute to keeping 200,000 to 300,000 people out of work per month. Unemployment remained flat from July 2011 to August 2011. At the peak of the recession that just ended, there were nearly six job seekers for every open job, according to the Labor Department. The job market could return to that point.

3. Consumer Spending
One of the primary reasons that consumer buying activity did not grind to a halt at the beginning of the last recession was that many people still had access to home equity loans taken out at the peak of the real estate market in 2005 and 2006. The New York Times recently reported that “lenders wrote off as uncollectible $11.1 billion in home equity loans and $19.9 billion in home equity lines of credit in 2009, more than they wrote off on primary mortgages, government data shows.” The situation has not improved in 2011. By the first quarter of the year, falling home prices had reduced the equity Americans had in their homes to nearly the lowest percentage since World War II, according to the Federal Reserve. Retail activity was helped somewhat by the capital available on these lines of credit in 2007, so store closings were probably deferred to the latter part of 2008, but then accelerated in 2010. With more than 11 million mortgages underwater, 24 percent of the national total, and several million more almost there, the consumer will have no cushion as the economy deteriorates over the next six months.

4. Consumer Confidence
Consumer confidence, the critical gauge of the activity that represents two-thirds of US GDP, will plummet again. The Conference Board’s Consumer Confidence Index would certainly move back toward the all-time low it hit in February 2009 when it reached 25. Currently, the measure is 44.5.

5. Auto Industry
Auto sales, one of the primary barometers of consumer economic activity and manufacturing output, would probably drop back to recession levels.  People concerned about employment will defer car purchases. Annual car sales in the US were over 16 million in 2005 but dropped to just above 10 million in 2009. The car companies hope that domestic sales will rise to 13 million this year. In a double-dip recession, at least one million of those annual sales would be lost.

6. Trade
The nominal balance of trade would almost certainly drop, probably to a deficit of $25 billion a month, as the US takes in fewer imports due to low demand for consumer goods and business inventory. Exports would also drop because an economic crisis in the US would spread quickly worldwide. This is because of the tremendous size of the US GDP in relation to that of any other country. The drop in imports would be a signal that business activity had slowed in China, the rest of Asia, and Europe. Demand for consumer and business goods would drop in most regions, forcing a nearly universal cut in jobs outside the US. The most recent nominal balance of trade showed a deficit of $44.8 billion.

7. Budget
The budget deficit would grow beyond the $1.5 trillion expected this year. Treasury receipts fell to $2.1 trillion in the federal fiscal year 2009 and are down to $1.7 trillion so far in the 2010 period. If history is any guide, receipts in a second recession could drop by as much as $200 billion a year as tax receipts from both business and individuals falter. Aid for the unemployed could total $50 billion to annual federal government outlays. Unemployment insurance will cost Washington $44 billion this year. As states run out of money to cover benefits, more of the burden could fall to the federal government.

8. National Debt
The rise in the deficit and a rapid increase in the American national debt has caused S&P to downgrade the country’s credit rating from AAA to AA+. The total outstanding public debt is currently $14.7 trillion – the highest it has ever been. This continues to cause concern among investors who purchase U.S. treasuries. The inability of the Treasury to rein in spending will cause borrowing to increase.  This in turn could bring the government’s debt rating down even further, causing US borrowing costs to rise. Increasing costs will then raise the amount needed to run the government by increasing the amount needed to service debt.

9. Stock Market
If the performance of the equity markets in 2008 and early 2009 is any indication, the S&P 500 could drop from its current level of about 1,200 to a low of 676, which it hit in March 2009. This would take trillions of dollars off business balance sheets and from consumer retirement and brokerage accounts. Businesses would become less likely to invest in new plants, equipment, and services. Many individuals would see a large part of their retirement disappear. That would cause a huge drop in consumer spending as people attempt to preserve cash, perpetuating further drops in the stock market.

10. Banking
The effect on most of the financial services industry would be catastrophic, particularly at the regional and community bank level where a number of home and commercial real estate loans are held. The FDIC would be forced to borrow money from the Treasury to cover bank closings. The number of failed banks could reach the level of the Savings & Loan crisis, during which over 700 banks and mortgage lenders were shuttered. There is already fear that defaults on EU debt could sink some of the large banks in Europe. Bank of America’s stock price and widespread branch closures are a sign of stress on the U.S. bank system.

11. Interest Rates
As the great majority of economists have pointed out, the Fed has already dropped interest rates to zero.  This means the central bank is out of ammunition and QE3 won’t help.

(Douglas A. McIntyre/Becket Adams – 24/7 Wall St./The Blaze)

Comments (81)

1 2
  • dealer@678
    Posted on September 13, 2011 at 9:48pm

    This time its gonna be a depression like no one has ever seen before

    Report Post »  
  • cknapp
    Posted on September 13, 2011 at 9:32pm

    Look up the definition of Recession, 2 consecutive quarters of zero or negative GDP growth…what happens when GDP stays down and does not change, thus no measurable “delta”…guess what?…no Recession! However, my definition of Recession would of course include “not moving up after having moved down and stayed down”…but I digress.

    Craig Knapp

    Report Post »  
    • sbleve
      Posted on September 14, 2011 at 10:04am

      Or, the tide out and staying out. Here in califnoya the tide is controlled by Moon Beam Too.

      Report Post » sbleve  
  • godhead
    Posted on September 13, 2011 at 9:01pm

    Here’s the really sick part. You’d all like a double dip recession to happen. You’d like that very much, In fact, you’re doing as much as you can to assure it. That’s the really pathetic part of this patriot game you play, this charade of self reliance and principled living.

    Report Post »  
    • lobster
      Posted on September 14, 2011 at 8:40am

      All the stupid folks that run this place would have to do is stop killing the housing market by allowing freddie and fannie to cut the legs out from under the housing industry. After all just at half of the GDP comes from the housing sector.

      Report Post »  
    • Turin
      Posted on September 14, 2011 at 8:59am

      Hey Einstein,
      What exactly are we doing to ensure a double dip recession? Last time I checked, I didn’t have the authority to appoint czars and strangle business with an overbearing regulatory burden. I haven’t completely road blocked the development of our own energy resources, and I most certainly don‘t go around and take money out of people’s pockets by force like the government.
      I do have a question for you though: Are you an economic illiterate, a useful idiot, or both? Stick your head back in the sand and return to dreaming about a country run by Obama that’s full of rainbows and lollipops. Those of us who recognize the reality of the world we live in have to prepare. After all, we’re the ones who are going to have to fix things after the left has trashed the country.

      Report Post » Turin  
    • shirtsbyeric
      Posted on September 14, 2011 at 8:22pm

      Just like in 2008 when Chuck U Schummer caused a run on Indy Mac bank?

      Report Post »  
  • SageInWaiting
    Posted on September 13, 2011 at 8:50pm

    Ya THINK???

    It takes an economics degree to deny it.

    Report Post » SageInWaiting  
  • Turin
    Posted on September 13, 2011 at 8:49pm

    Double dip recession? Yeah, that’s a tough one to predict. Here’s the really difficult one:
    2nd quarter 2012 things are going to get very ugly and there will be rioting in the streets. I hope I’m wrong, but that’s my read on things, and I’m planning accordingly.

    Report Post » Turin  
    • sbleve
      Posted on September 14, 2011 at 10:07am

      In 1937 the U.S. media should have labelled the economic policy as Depression inside of the Depression.

      Report Post » sbleve  
  • sillyfreshness
    Posted on September 13, 2011 at 8:36pm

    There is no such thing as a double dip recession just like there is no such thing as a Muslim terrorist, so no need to worry about it. That’s what Obuma said. As far as housing prices, they need to go down at least another 20% to maybe even 50% yet. They were so over inflated that people were using housing as investments just like the stock market. Buy a house today and flip it next month when the price goes up $10k or wait 2 months and it will go up $20K. So ridiculous to turn the housing market into a quasi-casino. Instead of housing prices going up 2 to 3% a year like it used to, it was going up 50% a year in cities like Las Vegas and Phoenix. Anyway, there will NOT be a recovery in unemployment as long as these American companies keep their workforces in China. Sure the stock market might go up as these companies increase profits through outsourced labor, but Americans will still be unemployed at 9 to 10%. Tariffs on Chinese goods are about the only way to put a stop to American companies shipping jobs to China. We will stay in a recession/depression for the next 10 years just like the 1930s. There really is no end in sight, but the only constant I see if high unemployment until jobs are moved back to this country.

    Report Post » sillyfreshness  
    • sunnydaze
      Posted on September 15, 2011 at 6:18am

      Yes that is so right! Our so called American corps.are over there Making money with the products and companies that we created and developed in this country… They took advantage of the American work force. Shame on them! We cannot compete with slave labor. Most people don’t realize that US slavery was ended in part because We the People needed paying jobs and the slaves were forced to do our work for free, just like poor people (slaves)in other parts of the world. Americans cannot compete with Slave labor.

      Report Post »  
  • Redistributor
    Posted on September 13, 2011 at 8:30pm

    Wrongo. Incorrect. With 15 million plus out of work I don’t care what the GDP numbers suggest…we never got out of the first recession.

    Report Post »  
    • jhaydeng
      Posted on September 13, 2011 at 8:41pm

      How about double dip depression!

      Report Post »  
    • neidermeyer
      Posted on September 14, 2011 at 4:06pm

      I see it like an aircraft stalling and falling a bit ,, picks up some speed and just enough lift to fly level sor a few seconds and then stalls again … the administration is pulling suckers in and then burning them .. leaving us with nobody capable of bootstrapping the economy.

      Report Post » neidermeyer  
  • 2smart
    Posted on September 13, 2011 at 8:13pm

    Ya’ll are all wrong! The “Great Leader” assured us recently that this would NOT happen. It’s really just an illussion. I don‘t know where ya’ll got your information but we all know that the “Great Leader” would not LIE to us. I mean, he has our own best interest at heart. Right?

    Report Post » 2smart  
  • BQI
    Posted on September 13, 2011 at 7:56pm

    Get ready for the perfect storm. Europe is about to collapse. Greece will be the trigger with Germany not bailing them out. Merkle will ask Obama for money but he won’t do it because his interest is to see chaos. Greece defaults, ripple effect through Europe and then America. America, mean while is dealing with socialist and Marxist trying to bring the government down. The Fed will be forced to QE3, inflation mounts, hyperinflation seeps in. The rest of the world riots for food…..all hell is breaking loose.

    See BQI stories tomorrow (Wednesday) for articles that chronicle all of this http://www.blackquillandink.com

    Report Post » BQI  
  • SavingtheRepublic.com
    Posted on September 13, 2011 at 7:39pm

    ~^~v~~^~~v~^~
    Wish they would just call it the way many of us see it: Its not a double dip we are still in a “recession” which is really a depression. Do some research and you will see the facts and figures of today are WORSE than they were in the 30′s. For example the unemployment number being thrown around is 9.1% This article says we’ll see 10%, well I have news for you all, that number is a “cooked” number, the real UE is close 24% (check out shadowstats.com). The calculations used to to get the UE are not factoring in living expenses or those nolonger receiving UE benefits that are still unemployed! They say there are 14million unemployed that number more than likely is double! ….

    Report Post » SavingtheRepublic.com  
    • SavingtheRepublic.com
      Posted on September 13, 2011 at 7:40pm

      ….. Now others will argue its not a depression b/c “we dont have all those infamous food and UE lines”. Well thats true b/c FDR, and other Pres’ that followed, went ahead and “padded the system” after The Great Depression forming all those now well used social programs that take the place of the food and UE lines! You know the same ones that today are called “unsustainable”! If the plug is pulled on all these programs funded with loans from the Chinese we would have all those images of the 30′s today. So we are in a depression is just hidden in plain view with all types of window dressings. Why? Simple answer, if that word, “depression”, is used there will first be a Wall St panic, financial markets will completely collapse since we are already on a shoestring. It will then be followed by panic of the people. Panic the govt is not prepared to handle…. thats why so many odd restrictive regs are quietly popping up. Its why some cities are slowly making moves to curb unrest like in Philly following the flash riots a curfew was imposed. More systems of control are being instituted slowly “beneath the radar”. If you are looking for a shock an awe moment it wont happen b/c the info will be suppressed renamed repacked and actions are taken to immediately suppress it when the SHTF. Wake up take the red pill and get out of the Matrix…. http://SavingtheRepublic.com

      Report Post » SavingtheRepublic.com  
    • American Soldier (Separated)
      Posted on September 14, 2011 at 1:18am

      And I bet you think one of your beloved RINOs will be able to fix this?

      I laugh at the notion…

      Report Post » American Soldier (Separated)  
  • noah2854
    Posted on September 13, 2011 at 7:09pm

    while American people struggles illegal aliens have all the bennefits ,no wonder they love America the land of thefree .

    Report Post »  
  • sb36695
    Posted on September 13, 2011 at 6:56pm

    My business has not improved since the recession started. If there was a recovery, I missed it! What we will experience next is the OBAMA DEPRESSION. My only “HOPE” is those that voted for Obama suffer the most.

    Report Post »  
    • sb36695
      Posted on September 13, 2011 at 9:07pm

      To Platitude:
      I started my business from scratch. Try it & you might learn something. Daddy did the same type of work when he wasn’t drunk.

      Report Post »  
    • loriann12
      Posted on September 14, 2011 at 7:28am

      Actually those who voted for Obama will probably make the rest of us suffer. When they can no longer take from the US Government, who do you think they’ll turn to to take from?

      Report Post »  
  • progressiveslayer
    Posted on September 13, 2011 at 6:47pm

    The collapse is inevitable,this is the result of the government making everyone equal we all know the drill,government forces banks to make bad loans and surprise the houses go into foreclosure. Government then says we‘ll keep people in their homes even though they can’t maintain the mortgage making the problem worse,Maybe some progressive can explain how the evil banks make money off of people who can’t pay their loan,that one escapes me.I know the banks were bailed out but if the government wouldn‘t have started the idiotic community reinvestment act the banks wouldn’t need to be bailed out in the first place.
    And we will have a depression and soon,someone said it’ll never happen, I say why not because it happened once before,history has a way of repeating itself and we’re seeing it now.

    So for all the progressives don‘t worry you’ll be fine the government has an endless money supply and China will never call the loan,it’s all good spend spend spend !

    Report Post » progressiveslayer  
    • spurjimmy
      Posted on September 13, 2011 at 6:53pm

      China payback: A high tariff on all Chinese goods entering the U.S. Use that tariff as the China debt repayment. Pay them back with their own money. Don’t offset the additional cost of Chinese goods in the U.S. and make their products too expensive to sell in the U.S. Start the rebuilding of U.S. jobs by eliminating the cheap, job killing products from China.

      Report Post »  
    • spurjimmy
      Posted on September 13, 2011 at 7:06pm

      China is just as dependent on us as we are of them. If they don’t have the U.S. market to sell their cheap garbage, they suffer and we level the playing field. But, the politicians won’t ever do that because they are beholding to the communist Chinese government and would sell out the citizens of America before hurting their Chinese benefactors.

      Report Post »  
    • American Soldier (Separated)
      Posted on September 14, 2011 at 1:22am

      Losing or reduced income from America would hurt their bottom line but they sell plenty to the rest of the western world.

      Raising a tariff will only make our cost of living go up. Unless we’re willing to take on a bit of deflation, we’ll never truly be able to become productive anymore. Our standard of living is too high to be a producer and the only way to become a major producer is to reduce our standard of living. Good luck trying to get the American public to accept that plan. It’ll be beyond difficult to bring manufacturing back to America. You can raise all the tariffs you want, all it’ll do is make the things we want more expensive. Then there will be a demand for higher wages. Higher wages will just make what we DO produce in this country more expensive. This game will continue until the house of cards collapses.

      Report Post » American Soldier (Separated)  
  • bhelmet
    Posted on September 13, 2011 at 6:44pm

    It is not a “double-dip” – we NEVER got out out of the first dip.

    Report Post » bhelmet  
    • chicago76
      Posted on September 13, 2011 at 7:19pm

      Everything has gone way up in price in the last three years, except for homes and Chinese made goods. We are in a double dip recession. Check out how the price of commodities and precious metals have gone up in the last three years. I don’t know about you but my pay check has gone down. So where are we?

      Report Post »  
    • M100Spiral
      Posted on September 14, 2011 at 12:18pm

      I am frustrated with being advised to invest in heavy metals and to stock up on food products that have a long shelf life. It is not that I do not respect the advice. Believe me I DO!!! The truth is that I am at an economic disadvantage! And, not being able to follow this advice also adds anxiety to my already stressed out life.

      Two years ago, I lost my weekly overtime, suffered two pay cuts, and started working a 36-hour workweek. During a three-month period, while the various stages of my economic nightmare were unraveling, I lost $10,649 of my annual income, an income I was accustomed to earning for a four-year-period. And, all this happened while working for the same employer. As a matter of fact, this January will be my seventh anniversary.

      Meanwhile, all my bills stayed the same until they were paid off, and I ate rice, pasta, and oatmeal—all the inexpensive staples. For 15 months, I went without buying fresh produce until I paid off a car and a student loan.

      Heavy metals are not within my grasp. With every paycheck, I spend an extra $10 on food products with a long shelf life. Unfortunately, I only have a month of extra food supplies, and I have been doing this for three or four months.

      Some of us have not fallen through the cracks yet, but it will not take much for some of us to fall through one. Whether it is a double-dip recession or a depression, it will not matter to me, because I am one of the UNDEREMPLOYED!!!

      Report Post » M100Spiral  
  • technoid
    Posted on September 13, 2011 at 6:29pm

    Turn in your paper dollars for silver and gold while you still can. Those who own rare metals will ride out the storm.

    Report Post »  
  • EQUALIZER
    Posted on September 13, 2011 at 6:28pm

    The Obama Doctrne right on schedule. Why has there been no investigation intto the execution of Obama;s 3 GAY Lovers? Obama belonged to a Gay Club in Chicago people,Wake UP!!!!!

    Report Post »  
    • Chuck Stein
      Posted on September 13, 2011 at 6:43pm

      Wow, that’s a bobmshell! Not sure if it really fits with this posting. Personally, I have had some questions regarding Obama’s background in that regard. Specifically, his mentor as a youth was Frank Marshall Davis who wrote pornographic “literature.” In light of the very private access that that perv had with young Barry, I would not be surprised if some really bad stuff went down between them.

      Report Post »  
    • progressiveslayer
      Posted on September 13, 2011 at 6:49pm

      Chuck I bet something went down

      Report Post » progressiveslayer  
  • FlowerBell
    Posted on September 13, 2011 at 6:28pm

    At least people don’t have to stand in a soup line anymore. The government cheese is delivered directly to their homes.

    Report Post » FlowerBell  
    • RA0725
      Posted on September 13, 2011 at 8:24pm

      That’s true!!! Those Schwann trucks that deliver all the frozen ready to zap foods take EBT cards. I’ve never had any of those products (too expensive for me) but I‘ve been told they’re pretty good.

      Report Post »  
  • thenabrd
    Posted on September 13, 2011 at 6:24pm

    not only have we not left the recession in the first place, this is more of a depression than a recession. but that’s right, the gov’t has changed how they calculate these things, time and time again to prevent the truth from coming out. the worse things get, the more they tweek the numbers. the gov’t knows if the facts/numbers were calculated correctly, they’d be out of office the very next time they ran for re-election.

    Report Post » thenabrd  
  • zoro51
    Posted on September 13, 2011 at 6:22pm

    this IS 2011 HELLOOOOOOOOOO.. this is what 2012 looks like if OBAMA wins the election REMEMBER THIS. SOCIALISTS ideas n measures DO NOT WORK pbama the muslum loving apologetic wanna bea president SUX A## DONT waste the vote… president perry will take the usa BACK n deliver it into the 2012;s NO MORE SOCIALIST SPEECHES EVER!

    Report Post » zoro51  
  • TheFonz
    Posted on September 13, 2011 at 6:18pm

    Another depression won‘t look anything like the depression of the 1930’s. My grandparents and their generation knew how to work hard, took handouts only when needed, and did everything in their power to climb out of it, and then went and fought a world war on top of it all. This generation will riot in the streets and there will be violence. People will be eating each other in the streets in a week if their satellite television is disconnected and McDonald’s boards up.

    Report Post » TheFonz  
    • TH30PH1LUS
      Posted on September 13, 2011 at 7:01pm

      Apparently the cannabalism has already started in Florida.

      Report Post » TH30PH1LUS  
    • BowHuntingTexas
      Posted on September 13, 2011 at 7:27pm

      By the time Obama‘s out we’ll be living the movie “Escape from NY City”.

      Report Post » BowHuntingTexas  
  • cromag11b
    Posted on September 13, 2011 at 6:15pm

    If the Anti-Middle Class Republicans can have their way with the Do Nothing Democrats, then yes it will look like this. How many Republican leaders have to openly say they want bad times for the election before they get called out by the masses? And the same goes for the Democrats who essentially do nothing.

    Report Post » cromag11b  
    • Chuck Stein
      Posted on September 13, 2011 at 6:45pm

      “How many Republican leaders have to openly say they want bad times for the election before they get called out by the masses?” Well, at least one, I suppose — but the count still stands at zero.

      Report Post »  
    • joe1234
      Posted on September 13, 2011 at 8:14pm

      anti-middle class republicans? right, keep drinking the commie kool aid

      Report Post » joe1234  
  • hersey10
    Posted on September 13, 2011 at 6:06pm

    How could we be headed for a double dip when we haven’t gotten out of the first one ?

    Report Post » hersey10  
  • platitude
    Posted on September 13, 2011 at 6:05pm

    And the blaze continues to peddle fear

    Report Post » platitude  
  • IlovemyAkita
    Posted on September 13, 2011 at 6:01pm

    http://www.youtube.com/watch_popup?v=cMnSp4qEXNM&NR=1

    Report Post » IlovemyAkita  
  • Snowleopard {gallery of cat folks}
    Posted on September 13, 2011 at 5:58pm

    Somehow under the Obama administration I can see this actually coming about, and many times worse off than the article mentions.

    Report Post » Snowleopard {gallery of cat folks}  
    • teapartyconservatism
      Posted on September 13, 2011 at 6:16pm

      Had enough yet?

      Wouldn’t it be great if you could undo the laws Obama passed, cancel the debt he caused, and return trillions to our Treasury? Well you can!

      Politically disregarded law, Art. 2, Sec. 1, “No person except a natural born Citizen, or a Citizen of the United States, at the time of the Adoption of this Constitution, shall be eligible … .”

      Exempting a citizen (the minimum requisite then was US birth to a US father) from being a natural born citizen, proves they are not equal. Only US birth to US citizen parents (plural) is greater, thus defining a natural born citizen; as confirmed by Supreme Court binding precedent in Minor v. Happersett, 1874.[1]

      Obama’s Kenyan father precluded his eligibility! Impeachment isn’t for a usurper, it ignores the damage and the Senate may not cooperate. The solution is to prosecute Obama (aka Barry Soetoro, Harrison j. Bounel, Barack Soebarkah) for using an alleged fraudulent Social Security number and birth certificate to usurp the Presidency.[2]

      That way if he resigns and is later pardoned, we can still undo the damage. Demand your state and federal elected officials prosecute Obama now!

      That makes sense to me. What do you think?

      1. TeaPartyConservatism, “Obama Is Not An Eligible Natural Born Citizen,” http://teapartyconservatism.blogspot.com/ (8/18/2011)

      2. Dr. Orly Taitz, JD., “Obama’s fraud, 3 hour Roth radio interview,” http://homelandsecurityus.com/archives/5172 (8/18/2011).

      Report Post » teapartyconservatism  
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