Economy Is In Freefall, Rantings of People Like John Stossel Aside - Proof In Data

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ByLoSellHi

Let Stossel keep claiming government should do NOTHING as manufacturing keeps shrinking, housing and car sales keep plunging, and this economic crisis (and it is a crisis) keeps feeding on itself, threatening a total meltdown.

Read the Bloomberg article below.

John Deere is forecasting sales in its arena will drop by nearly a quarter; housing starts are now running at an annualized pace of about 450k, when they were 2.1 million in 2006; car sales will likely not break the 9 million mark this year when they were 17 million in 2006; manufacturing, after contracting at the fastest level since 1942 during 2008, is falling further still.

Yes, Mr. Stossel, just let the banking sector fail, manufacturing keep shrinking, and housing and auto sales keep dropping from levels either never seen lower, or not seen lower in 60 years.

http://www.bloomberg.com/apps/news?pid=20601087&sid=atWP8ZhMoKcE&refer=home
 
Quote from niceneasy:

stossel is a sensationalist chronic masturbator media jizzbag tool for hire for whatever cause will line his pockets.
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Well, there was a group of economists who disagree with the bailouts and stimulus policy. What if THEY are correct? Jimmy Rogers has said so all along... what if HE is right? (I happen to believe he is... and that the current politicos are milking this to the detriment of the USA...)

Most will agree that all of these bailouts/stimulus/deficits are going to hurt us really badly... and virtually destroy the futures of our children and grandchildren.... yet our politicos lead us down this path anyway.

There is going to be pain regardless. Which is the lesser of evils?
 
This is NOT the problem--this is the consequence. The consequence of reckless borrowing and consuming without producing any tangible assets.

The past 10 years of economic output statistics can be thrown out the window because this economy was at the top of the bubble. In manic mode.

Recessions are necessary to wipe out all the bad debt. If too much debt goes sour the system fails. The more gasoline the gov't tosses on this the worst it gets and the higher likelihood of systemic failure.

The same bozos who led us into this are now going to rescue us? *laughing hysterically*

Do some research about Geithner's involvement in the Asian Crisis of the late 90s. It is gut-wrenching.

I'm not sure this country deserves to survive. I love America, but this isn't the country millions of men died to protect.
 
Quote from Bigpipn:

This is NOT the problem--this is the consequence. The consequence of reckless borrowing and consuming without producing any tangible assets.

The past 10 years of economic output statistics can be thrown out the window because this economy was at the top of the bubble. In manic mode.

Recessions are necessary to wipe out all the bad debt. If too much debt goes sour the system fails. The more gasoline the gov't tosses on this the worst it gets and the higher likelihood of systemic failure.

The same bozos who led us into this are now going to rescue us? *laughing hysterically*

Do some research about Geithner's involvement in the Asian Crisis of the late 90s. It is gut-wrenching.

I'm not sure this country deserves to survive. I love America, but this isn't the country millions of men died to protect.
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I'm not claiming the people making the decisions are the right ones, or that the medicine they're prescribing is the right medication or dosage -

I am saying that anyone claiming we should adopt a hands off approach, let banks and ANY businesses just fail without regard to their purpose or function in this consumer-led economy, when many people can't get credit to buy cars and homes, or smaller things that are also very important to keep the economy functioning - which IS happening now, and which Stossel seems to gloss over as an apparently unimportant facet of the economic disucssion - well, listen to those types, and we WILL have an all out depression.
 
Quote from ByLoSellHi:

Why don't you stick to moderating and mature comments, rather than going on personal attacks and demonstrating the very kind of behavior that is supposed to be discouraged on ET.

You didn't have anything of substance to contribute and/or are more bullish on the economy than the headlines I focus on seem to indicate, so you feel the need to post a one line sentence attacking me, rather than contributing anything of substance?

Okay everyone, don't post anymore data points, articles from Bloomberg or anywhere else, or any other matters unless they pass Ivan's standards and comport with his opinion first.
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Was just kidding around with you. But since you're that sensitive, with you I will joke no more.
 
Quote from Ivanovich:

Was just kidding around with you. But since you're that sensitive, with you I will joke no more.
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It didn't sound like a joke, but that's fine if you say it was.

I wasn't pissed when I thought you were serious; I was surprised.

Or that you had a huge man crush on Stossel (maybe because of his porn mustache).
 
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