(Reuters) - Corporate America's hopes for a second-half pickup in the U.S. economy dimmed on Wednesd

[ShockediSay]

Source: Reuters

Their cautious words, coupled with weak earnings reports from Delta Air Lines Inc (DAL.N) and health insurer WellPoint Inc (WLP.N) spooked investors who are already on edge over the U.S. debt-ceiling standoff, sending the broad Standard & Poor's 500 index .SPX down more than 1 percent.

The words marked a change in tone for big companies, many of which had previously been calling for demand to pick up later in the year.

Executives warned that the long-awaited rebound in consumer spending is not materializing, as the nation's stubbornly high unemployment leaves many families with less disposable income.


Read more: http://www.reuters.com/article/2011/07/27/us-usa-corporate-results-idUSTRE76Q5GD20110727

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When all you do is cut, cut, cut government spending putting money into the economy, cut placing money in the hands of most consumers, cut public sector jobs, cut billionaire taxation from government revenues, what do you get? Ans: The Great Recession caused by starving government w/ Bush Tax Cuts, turning into The Next Great Depression and History repeats itself.

[Downwinder]

1. All those green shoots withered and died in the drought.

[ixion]

2. uh, "Corporate America?" They're helping make things worse, not better.

Sure, ship jobs overseas, and what you can't ship out, import in cheap workers from overseas to keep domestic wages depressed. Oh yeah, that'll help. :eyes:

This, in a nutshell, is why there are no jobs, hence no recovery.

[madmom]

3. Gee where have I heard that before?...oh that's right isn't that the same excuse they

used for keeping the bush tax cuts? How do they expect people to spent more money when they have no more money to spend?:banghead: