Things will probably get much worse before they get better.

[Philosoraptor]

This is the usual human pattern, you don't know what you've got until you lose it. You don't miss the water till the well runs dry.

Being pessimistic, I think the war(s) will get worse, the economy too, the mood of the nation will worsen drastically, and we will have to hit bottom, like an alcoholic, before we recognize how bad off we are. Once we've reached the point of no return, we'll get our act together.

I just don't see things suddenly becoming happy and shiny and better.

[fasttense]

1. Lately many (even conservatives) economists have been predicting

a severe recession. One of the economic pundits even gave a date of May 2007. But most are saying the end of this year or sometime next year the economy will go down the tubes. They predict everything from stagflation to hyperinflation to 25% unemployment to a valueless dollar. Of course there are those who are saying the economy is wonderful, but they seem to be getting fewer and fewer.

[Philosoraptor]

2. When THEY say the economy is just super, I worry.

[Warpy]

7. You can't offshore the paychecks and bring the bills onshore

while floating your entire economy on DEBT. That system is unsustainable. That is the bottom line. The longer we attempt to do this, the worse the recession will be. In fact, it will take a great deal of effort to avoid a DEPRESSION.

It's not just the national debt, it's the massive debt from the imabalance of trade since we don't produce a damned thing. It's the massive consumer debt, leveraged against hyperinflated housing prices and unsecured credit card debt, that is about to fall due.

People are starting to realize that it's not all as rosy as the burbling newscasters tell them it is. They see flat paychecks, a stagnant housing market with little continued appreciation, a flat stock market, and rising prices on everything but plasma TV sets. It's dawning on them that something is WRONG.

It will get uglier before those smug old men in both parties realize they have to do something to earn their yearly raises on their princely salaries.

[ProfessorGAC]

8. Don't Place Too Much Stock In Them

I'm not predicting a severe recession, but i am predicting a more "obvious" one. The people you're hearing from now have failed to recognize that with the exception of negative nominal growth, this economy has been displaying recessionary characteristics for the last 4 years.

So, when people can't even recognize that this economy has all the statistical markers of a recession, (save the one i mentioned), it seems unwise to listen to them now.

And, lastly, remember that these same classical economists (which most conservative and liberterian economists are) "predicted" a collapse of the economy when Clinton raised taxes. Could they have been more wrong?

The fact is that the bump in fuel prices will begin to catch up the overall inflation number, the rise in interest rates will block housing and reduce consumption, and the gov't deficit won't really be down (as they reported) once the final numbers are in. This will make the recession only slightly worse than it is now, but it will be obvious we're in recession and everyone will see it. Only the most partisan of hacks will be able to report it as anything else.
The Professor

[iamahaingttta]

3. Probably?!?

I wish I had your optimism!

[dipsydoodle]

4. Well just incase you do get a but more optimistic

play this to buck you up. D-ream's - Things Can Only Better.
http://www.youtube.com/watch?v=m6EdGAGCxco

[bahrbearian]

5. But on the Bright side I heard Baghdad is getting Better.

[Toots]

6. I was sure this was going to ba a Nader thread

Exactly what he said as well. :shrug: The money spent on Iraq just last year would have bought every single homeless person inAmerica a brand new home... We are currently burning through over a hundred thousand dollars a second in Deficit Spending. Yes things are going to get worse. The bill is going to come due..

[Blackhatjack]

9. There are reasons for this, no one is that stupid .....

You absolutely rape the economy, and use deceptive tactics to delay the immediate consequences of your acts, knowing full well eventually the bill will come due. Why?

Goal number 1 --you financially encumber the economy to the point that funding any kind of government entitlement becomes impossible(say goodbye medicare, medicaid, etc.). Added benefit, you accomplish this by passing the government treasury assets to your friends in the oil and war business.

Goal number 2 --you artificially "buck up" the economy by starting yet another war, which requires additional government spending, which moves even more government largess to your friends and buddies(see goal number 1)

Goal number 3 --you transfer massive wealth to the richest 1% and corporations so that they can move their holdings "offshore", convert them to other currencies and hard assets, which they will use to buy up American assets for pennies on the dollar when the economy comes crashing down. Added benefit, there will be so many people clamoring for jobs that they can pay whatever pittance they desire, and if people object, someone will step in and take the job out of desperation. Cheap labor, no benefits, no healthcare.

Yes, it does not take a genius to realize even an intellectually challenged president could not be so dumb as to realize what he is doing, and the consequences sure to follow.

We are watching a financial coup of our government take place, from the inside out.

[annabanana]

11. I wish I could nominate a single post...

This would be it. The blatant theft of every shred of "public property" is right out there for everyone to see...

[Philosoraptor]

10. A hard rain's a gonna fall.