CNBC: Second recession could be even worse than the first...

[originalpckelly]

"If the economy falls back into recession, as many economists are now warning, the bloodletting could be a lot more painful than the last time around.

Given the tumult of the Great Recession, this may be hard to believe. But the economy is much weaker than it was at the outset of the last recession in December 2007, with most major measures of economic health — including jobs, incomes, output and industrial production — worse today than they were back then. And growth has been so weak that almost no ground has been recouped, even though a recovery technically started in June 2009.

“It would be disastrous if we entered into a recession at this stage, given that we haven’t yet made up for the last recession,” said Conrad DeQuadros, senior economist at RDQ Economics.

When the last downturn hit, the credit bubble left Americans with lots of fat to cut, but a new one would force families to cut from the bone. Making things worse, policy makers used most of the economic tools at their disposal to combat the last recession, and have few options available."

http://www.cnbc.com/id/44057334

[Warpy]

1. It's not a second recession for anyone but the wealthy

It's the same old depression to the rest of us, dragging on and on and on.

[jtown1123]

2. This has been slowly approaching and our leaders do not listen to us.

[originalpckelly]

3. I know, the stupid fucks have been paid not to listen.

"Is that a freight train coming our way, shouldn't we get off the tracks?"

"No, that's just a freight train off in the distance."

"I know, it's coming our way."

"You don't know that's true."

[HughBeaumont]

4. Kernen and Cramer were laughing it up on that station this morning.

"Ha ha ha ha ha ha ha . . . all smiles here . . . the Kenyan's gonna lose, more money's gonna flow upward, and alla you dumb fuck viewers are going to PAY for it. HA! And we still got ours, Suckers!!"

[Oceansaway]

5. i can't stand either one of them

hacks...

[Dawson Leery]

6. Cramer has a track record of being wrong.

[MineralMan]

7. He also has a reputation for short positions just before markets

drop. I dislike Cramer. (massive understatement)

[Dawson Leery]

8. Massive understatement indeed.

[Hubert Flottz]

9. They need to call it what it really is

The Second Depression. We're even getting the dust storms.