Peter Yastrow, market strategist for Yastrow Origer, told CNBC that "We’re on the verge of a great, great depression. The [Federal Reserve] knows it."

He says money managers are in a panic to find true yields for their investments and that there is no growth. The big money people are baffled.

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

Robert Reich says there's no surge in hiring, wages are falling to levels, adjusted for inflation that are below the levels they were in the depths of the recession.

Meanwhile housing prices continue to fall, to where they are now 33% less than they were in 2006. That's a bigger drop than was recorded in the Great Depression.

He sites consumer lack of demand for many ills. Consumers who account for 70% of the economy will not, or can not buy enough to spur the economy to growth. People worry if they can pay their bills, and the banks with the same worry have tightened credit.

Our Democrat President occupies the White House and his appointees run the federal government and act like they're powerless to affect the economy.

Washington's paralysis is not good news for Obama's continued hopes to reside in his present residence.

http://www.ft.com/cms/s/0/aa81cf92-8...#axzz1O5XAJAYt

They ARE somewhat powerless in DC. You can't MAKE someone spend money if they don't want to.

Originally Posted by djplong

They ARE somewhat powerless in DC. You can't MAKE someone spend money if they don't want to.

They can just get out of the way of business. That would be a good start. Hopefully, when the Republican's take over in 2012 we get some changes.

Business has made it clear time and time again (especially since the 1980s) that they don't care about the public first. It's *shareholders* first and everything else comes afterwards.

That at least puts a higher priority on we the people than our reps (puke!!) and fearless leader (puke....for the word leader!!) in Washington.

His cheerleader campaigning using the economy and many, MANY promises got him elected.

The economy (such as it is) is worse now under his watch (note not using the word leadership!). So in 2012 the economy and his many MANY promises will get him rejected/ejected/thrown from office.

Only 16 months to go!!!!!!!!!!!!!!!!!!!

btk

Prediction...Current administration will enact another stimulus (just before election). All people in lower socio-economic category will receive a $300 check from Uncle Barrack. That should guarantee a huge turnout of Obama supporters. Signed; A Cynic

That has about as much chance of happening as when some uber-liberals said that Bush was SOMEHOW going to subvert the Constitution and install himself for a 3rd term and more - using 'national security' and the war on terror as the disguise.

There is NO WAY that he could get a honey check through the GOP-controlled house. They could make MINCEMEAT of him in the PR wars and that would be like handing the 2012 election to them. The GOP could say "See? He doesn't care about the deficit and is trying to buy votes".

Originally Posted by Dick K

Prediction...Current administration will enact another stimulus (just before election). All people in lower socio-economic category will receive a $300 check from Uncle Barrack. That should guarantee a huge turnout of Obama supporters. Signed; A Cynic

Prediction- The world didn't end on May 21.

Originally Posted by djplong

That has about as much chance of happening as when some uber-liberals said that Bush was SOMEHOW going to subvert the Constitution and install himself for a 3rd term and more - using 'national security' and the war on terror as the disguise.

There is NO WAY that he could get a honey check through the GOP-controlled house. They could make MINCEMEAT of him in the PR wars and that would be like handing the 2012 election to them. The GOP could say "See? He doesn't care about the deficit and is trying to buy votes".

With the massive liberal lame-stream media in his pocket to promote a "special refund bonus" to the taxpayers of the United States in this time of "national malaise", The President would be boldly stoking the economic fires with his plan that would "encourage and promote" new spending in the private sector and thereby trigger an uptick in business activity and "promote private sector growth" with the resulting increased business activity with businesses engaging in replacing inventories and consequently spurring job growth.


Everyone likes to get a check. The President and the Democrats could do this easy. The GOP would be the spoilsports wanting to keep the downtrodden in this country from their tax refund bonus in order to drag out the misery in the hope of reclaiming their power on the continued misery of their fellow citizens.

The media could help promote this idea with no problem.

Originally Posted by RichieLion

With the massive liberal lame-stream media in his pocket to promote ........

The media could help promote this idea with no problem.

Lame-stream media?.....now that's a novel name. Original?

What the poor down troden souls don't know is that $300 check is taxable income. Remember the $250 all of us that are on SS got. When I got a letter from the IRS, telling us that we forgot to include that on our tax return and the IRS wanted their money back. We send them a check for 250 dollars. Got another letter telling us, what is the 250 for. Several months later we get a check from Uncle Obama for $251.78. Interest for keeping the $250 for several months. Then we get another letter telling us to send the $250 back, they (IRS) found that we did owe them the SS $250.

This is the educational level of our current government workers. We are in lots of trouble and just don't know it yet.

BTW, remember the "Cash for Clunkers" program. We took part in that, but did a little research before jumping into the game. What caught a lot of people by surprise is that $2500 to $3500 you got for that old car was taxable income.

The goernment gives nothing for free.

Originally Posted by djplong

Business has made it clear time and time again (especially since the 1980s) that they don't care about the public first. It's *shareholders* first and everything else comes afterwards.

Are you kidding? Do you think that business should care about the public first before its shareholders? Is that how you think business should work? Would you want to have your savings invested in a company that thought about the "public" first, not you first?

This is exactly the problem with our country today. Collectivism.

Business ONLY interest is to make money. If it does not make money, it goes out of business. "Some" government regulation is necessary, but never to the extent that business should consider the public interest first.
JimJoe

I think we ought to just fold up our tents.

Richie: I disagree. The GOP would have to be idiotic to miss the opportunity to point out what happened the LAST time this was tried. Most studies showed that the $600 checks didn't go into the economy - they went to people's credit card bills or other debt payments. Then again, they might keep quiet since that *was* under the Bush administration. But I think that unlikely since they are now trying to distance themselves from the financial policies that were going on under the Bush (II) Administration.

JimJoe: Even the racist Henry Ford knew a good business model. Keeping prices LOW meant long-term company growth with meant a lot more to the shareholders (although Ford was a private company back then) than today's Holy Grail of Next Quarter's Numbers. His motto even included paying employees "the highest possible wage" to keep skilled workers.

We're in a race to the bottom when it comes to what companies USED to call "our most valuable resource" - employees. We joke about it these days with call center in Bangalore giving "customer service" with an accent so thick you need a supercomputer to decode it.

Whereas there used to be more of a balance between the employee, the customer and the shareholder, it's all shareholder now. I mean, there have even been shareholder-induced lawsuits that want to punish a CEO for not producing enough profit, regardless of the fact that the company was healthy. Shareholders now want every single penny (look at day-traders) and if they don't get it, they bail out without a care.

By and large we have completely lost our ability to look at the long-term big picture. We don't do big projects anymore. NIMBY and BANANA (Not In My Backyard - Build Absolutely Nothing Anywhere Near Anyone) rule this country now.