Real estate sales down, unemployment up, consumer buying down,

[MadHound]

When the hell are they going to admit that we have not pulled out of the recession, and that it is, in fact, getting worse, much worse.

Next question, if they realize this truth, when is the government going to start doing something about it, like a massive WPA style jobs program? How much do they want to leave us out here to get battered and beat up by this economy?

[laughingliberal]

1. We won't see any admission unless the top 1% start losing money.

Remember, they denied we were in recession for a long time after we were. It wasn't acknowledged until WS and the banks were hurting.

K&R

[TBF]

2. Correct, and since those folks own the media I don't see that

admission coming anytime soon. You only hear from them if taxes are raised. Otherwise everything is A-OK in the land of luxury.

[Warpy]

3. Gee whiz, what a surprise

Cue the teams of economists practicing looking like "The Scream" as they're shocked yet again by something that was predicted in the Economy forum right here in 2003.



Who would have thought that depressing wages for 40 years while offering unlimited cheap credit to people who had no means to pay it back would ever crash an economy? Who would have thought that banks, merged with speculative brokerages, would gamble with other people's money placing bets on all that unrepayable debt and nearly destroy the whole world's financial system?

Who knew Munch was actually painting an economist?