Sounds like the chances of a double dip recession are good.

[Locut0s]

Was just listening to the BBC on the troubles in Portugal and Spain and the general crisis over the Euro. Doesn't sound too good to me. Sounds like a bunch of dominoes waiting for the tip. How likely do you think a double dip recession is, or worse maybe a depression?

[leveymg]

1. We're in a Depression, but the markets are being propped up, the result will be to bankrupt the

U.S. Federal Reserve. The banking system is already insolvent, and the Treasury only has so much time before global capital ceases to support it. The federal government, too, will effectively cease to operate.

Once the federal government runs out room to print money, the whole rotten edifice of capitalism will collapse.

[Locut0s]

4. Yes I've wondered if we were in such a situation during the last few months...

Or at least one similar to it. One wonders where we would settle if they stopped the money printing presses.

[leveymg]

6. The practice of "rolling brownouts" is now on the national economy level, and it's

closing in on the last of the major western money centers.

There's been a rush to transfer assets overseas in recent months before the system locks up again. People are beginning to wake up to that.


http://www.csmonitor.com/USA/2010/1201/Federal-Reserve-s-astounding-report-We-loaned-banks-trillions
The numbers are staggering, encompassing more than a dozen emergency programs set up starting in 2007 or 2008. In one program alone the Fed doled out nearly $9 trillion in funds to borrowers such as Morgan Stanley and Merrill Lynch, largely at interest rates below 1 percent.

[MrModerate]

11. Trouble ahead, but collapse of capitalism? I'm not holding my breath.

Nor am I eagerly awaiting anything like that.

Would you care to opine what economic systems *won't* collapse? Or are you saying "capitalism" and meaning "the world economy"?

[ProfessionalLeftist]

2. Repigs are gunning for it. That's one reason they want to snuff out the v.weak

recovery in the US by refusing to extent unemployment. That ALONE will kill our 'recovery' and send us into depression. (further)

End result? Obama = failure based on bad economy and Republicans can tout that to voters to get elected in 2012

NOT that Obama himself isn't doing a lot to help them screw him and subsequently all of us too - he is. But I'm tellin ya, Republicans want this recovery (weak as it is) STOPPED. And they're gonna get what they want, too because Obama and the White House are going to do what they've done for the past 2 years - hand it to them on a silver platter. Pfft.

[Subdivisions]

3. We're in a depression from which we will never emerge. n/t

[StarsInHerHair]

5. feels like it doesn't it?

nt

[On the Road]

7. If the Past is Any Indicator

the economy will continue to feel fragile all the way up until growth is booming again. It will not be next month, however. Deleveraging takes awhile.

[Trajan]

8. The bottom is invisible yet ...

Depression lies ahead ...

Why ? ... Because wages will be suppressed (as per usual) heretofore ... without a known end .... Wage suppression lies at the heart of our current troubles, and the right wing has proven itself able to keep wages in the dirt, no matter what Democrats or Liberals think or say ...

As long as the manufacturers have a world of slaves to pick from, they will skirt American workers into the unforeseen future ...

The bright future your mother and father knew, is gone ...

The protections they provided for society are breaking under the weight of conservative greed and liberal malfeasance ...

This is suicide for most businesses ... UNLESS; they produce materials for riot suppression, graveyard supplies, body bags or prison support industry; Most of us wont have the ability to buy their goods ...

I guess sucking multi billionaire ASS might be a career choice ... Those big, gilt rimmed swimming pools will have to be cleaned ....

Oh yeah ... The bottom ? ... That is when workers in Western societies earn only as much as the lowliest peon in the most corrupt nations ...


Only then will things begin to 'brighten' in our futures ... I don't buy the rosy pep-talks from 'progressive' capitalists here in DU .. Just as the explosion of the Middle Class in the 40's and 50's presaged a new era in the world, so will the decline ...

The fat cats have figured out how to defeat FDR and the New Deal ... After 70 fucking years of trying .... Just like Newtie said ....

[obxhead]

9. Some would say this double dip nonsense is simply BS

trying to hide the truth, the recession never ended.

[Imagevision]

10. In 9/2009 they predicted it would happen by Oct./Nov of 2010...

[Imagevision]

12. Unemployment is down in Nevada, - down to 14.2%