We Are Going Into Another Recession Without Coming Out Of The First Recession

(Reuters) - Morgan Stanley slashed its global growth forecast for 2011 and 2012, saying the U.S. and the euro zone were "dangerously close to a recession", and criticized policymakers in Washington and Europe for not acting more decisively to contain the sovereign debt crisis.
The bank cut its global gross domestic product growth forecast to 3.9 percent from 4.2 percent for 2011, and to 3.8 percent from 4.5 percent for 2012.

"Our revised forecasts show the US and the euro area hovering dangerously close to a recession — defined as two consecutive quarters of contraction — over the next 6-12 months," Joachim Fels, who co-heads Morgan Stanley's global economics team, said in a research note dated Wednesday.

 

As gold hit new record highs of $1,832 an oz. Wall Street is rolling down hill fast. Unemployment is still crazy high after all these years. This is very bad news for the American people. Thanks to the Democratic party and Obama 1 in 5 children live in poverty here in America. The Democratic Party promised that this wouldn't happen if they pasted all their economic stimulus bills. But all those bills did was raise our national debt to unsustainable levels. We have yet to get out of the recession that Obama said he would get us out of. I have to say it, we conservatives told you nothing Obama did would work. We told you this would happen and it is. If you vote for more of this then you are just an anarchist.

Aren't you glade you prepared for this next round of recessions? If you are a liberal you didn't do anything. That is your MO.

Historic Drop In Stock Market: OPEN THREAD

 

The US $ is dropping fast. I understand Obama is skidish about leading right now since he is way over his head and has scewed up everything he has touched. But he need to stop feeling sorry for himself and stop drownding himself in his re-election campaigning. Doing nothing is worse then leading to the left,right or middle. Our country is at one of it's weakest times and Obama is acting like an immature child.

Weather we like it or not we need a leader that at least apperse to be strong and in control. He is the only president we have right now. Hidding his head in the sand and leading from behind will only make us weak and varnerable to our enemies, whoever they may be. Obama must put forward plannes that are comprehensive and have been proven effective in the past. Now is not the time to be trying to prove some proffesor in the Ivy Leagues theories right or wrong. Doing more of the same only adds to our debt and will not work, nor has it ever worked.

 

America Must Grow Their Economy And Stop Mindless Spending

Obama and the Democratic Party are doing what they do best. Find someone to blame rather then trying to fix the problem. Our President needs to focus on growing our economy. Since he doesn't have any business people in his administration it's no wonder our economy has been dead in the water. I pray he starts looking to those that have actually created jobs in the real world not some theoretical prof. We need those that have had success, not taught success in some classroom.

Obama will not be spending too much time trying to help our economy grow. He will talk about it but he wont do anything about it. For years now Obama has been telling us that he will now "laser in on jobs" and the economy. But then he does something else. We don't have a clear plan on how we will grow our economy out of this mess. It's hard to focus on making money when all you do is spend money. Obama doesn't like to make anything. He just likes to spend and campaign. That is what he is 'good' at. He has never created or made anything that makes money. He takes money.

Our small businesses are our economy. And they have been treated like a red headed step child. Just look at how this admin. has treated the Chamber of Commerce vs. how they have treated the "Too big to fail" businesses like GM.

A Fair Tax would help put our economy in the right direction. This would help bring back some of the manufactures afford to come back to this country. We need to fast track patents and make that whole process work faster. We need to match up new products with businesses here in this country that will produce them and sell them overseas. Government wont get us out of the mess they got us into. The best thing the government can do is get out of the way.

We are America. We are great and we will get out of this mess. I believe in the citizens of this country, even if our government doesn't believe in us. The stock market will tell us today what they think of the future. I know that no matter how bad the future looks we will come back from this. It might take years or decades but we will fix what has been broken.

As American voters we hold the cards. If you want the government to have power and control over you then vote for a Democrat. If you want to govern yourself then vote for a Republican. If you want businesses to grow and our economy to grow then we need to vote in successful business men and women. We need someone that will surround themselves with people that have grown businesses and made money. We need to ask small businesses what government is doing to make growth out of reach and change it. All businesses need to grow. Not just the ones that the government choses to help.

Our government needs to focus more on taxing imports and less on taxing those "rich" businesses that are creating jobs in this country. We have been taxing tobacco products for a long time now. Those added taxes have hurt the tobacco sales. Let's take what we have learned about taxes and put them to work for growth. A Fair Tax would get government out of the way of our growth. It would bring stability to our tax structure and our economy. And it would focus on growth.

Today the stock markets around the world will tell us what they think. The Democrats and our President will blame and campaign. We need someone to lead us while the Democrats do what they do best. We need leaders to focus on the future so we don't keep getting downgraded. We need viable solutions to lower our debt and growing our economy. We don't need a leader that talks about doing something but never gets around to it. We need doers not talkers.

We all know that the future is going to be harder then our past. I'd like to know what your thoughts are on the state of our nation, the world and our future?