'Consumer confidence in the U.S. economic outlook slumped in August to the lowest level since the recession, raising the risk that spending will dry up.' http://www.bloomberg.com/news/2011-...e-on-u-s-economy-outlook-since-recession.html
My advice to U.S. consumers? Plan for the worst, get out of the dollar, buy gold/silver/food commodities and believe NOTHING your leaders/central bankers say.
Granny says Morgan Stanley oughta know - dey one o' the ones dat got us into this mess... U.S. 'dangerously close' to recession - Morgan Stanley report August 18, 2011: A pessimistic report on the global economy from Morgan Stanley -- particularly about the United States and Europe -- sent the world's stock markets tumbling Thursday. See also: Economists see growing risk of global recession Aug 18,`11 WASHINGTON (AP) -- Discouraging economic data from around the globe have heightened fears that another recession is on the way.
Double-dip recession risk now 50/50... World Facing 50% Danger of Another Recession, Nobel Laureate Spence Says Aug 25, 2011 - The global economy has a 50 percent chance of slipping into recession as Europe and the U.S. struggle to grow, according to Nobel laureate Michael Spence.
That's right consumers don't have a good outlook on the economy. that's because they dont have the ability to get a job and no job no money to spend. trickle up unemployment is working. Unemployed get no money (once the chees checks stop), they don't spend because they have no money, the buisnesses get no money, and they cut back on workers and overhead, and the corporations will be making less profit because they can't dispose of their goods, and will cut more overhead, and everyone will pay less taxes because their icomes are less. You see, trickle up unemployemnt. THe USA has hit the peak of growth back in 2007. Back then the Construction industry had been slumping for 6 months and it has been getting worst each year. In all sectors of product/manufacturing/service, the USA has built to capacity it sales to consumer ratio. No need for any more products/services when there are no more consumers to buy it. In addtion, the opportunity for capitalism has petered out, the industries and corporations are oversaturated with capitalist entities taking profit from them. Hence there is no more room for capitalist opportunity (or making money off another who is making money). The high cost of US prodcuts/services are examples of this. As a result, others around the world will not pay a high price for it. Don't make the mistake in thinking American labor produces high quality stuff. It did at one time in history. Fact is American capitalism makes high price stuff more efficient, and corporations in the USA are using Machines CNC, computers, and robotics to manufacture products better and faster than any human can. So are Americans correct in predicting a negative outlook? Absolutly. But the smart and intelligent ones with the inovative ideas will seek jobs and capitalistic opportunities abroad for greater success. By the time this catches on with normal Americans, it will be too late. Just like the California Gold rush of the 1800s, jobs and opportunity will be less and the gold will be all but gone. So if you seek a job, look abroad while your skills as a US employer is valued. Because it will take forigen countries a few years to realize the US worker is not all that they say they are.
Roubini : We are in a worse situation than we were in 2008 '"No More Policy Rabbits Left" Nouriel Roubini, Co-founder and Chairman of Roubini Global Economics said Speaking at the Ambrosetti Forum on the shores of Lake Como, in Northern Italy on Friday 02 Sep 2011 “We are in a worse situation than we were in 2008. This time around we have fiscal austerity and banks that are being cautious.” he added ."The market may rally but unless the real economic data moves with asset prices, then eventually asset prices are going to go," he said. "Last year the economic data was already improving when QE2 was introduced." "Every time we had an economic downturn and a market downturn, we had all the policy bullets, we'd take another policy rabbit out of the hat and try to restimulate the economy and the market, but this time around we'll have fiscal austerity throughout advanced economies, our ability to backstop banks and financial institutions is limited by the fact that there is resistance to it and not every country can weaken their currency," he explained.' http://nourielroubini.blogspot.com/...ed:+NourielRoubiniBlog+(Nouriel+Roubini+Blog)
[ame="http://www.youtube.com/watch?v=C2_-raM2MMg&NR=1"]Keiser Report 179: Boundless Greed & Mike Maloney - YouTube[/ame]
Asia Stocks, Euro Drop as Treasury 10Y Yield Falls 'Asian stocks fell, Treasury 10-year yields sank to a record, the euro weakened for a sixth day and oil slumped on speculation Europes debt crisis is worsening.' http://www.bloomberg.com/news/2011-...y-yield-falls-to-record-on-europe-crisis.html Of course Europe's debt crisis is worsening. And it's going to get a lot worse before it gets better. When humankind realizes that propping up weak banks and companies and countries with ever increasing debt is not the way to run the world economy. It just makes things far worse in the end then they would have been had the weak banks/companies just been left to die AND the weak countries left to fend for themselves (outside of basic humanitarian concerns). But throwing more and more money at groups that have proven to be incompetent at handling money is asinine.
