Tag Archives: Recession

Enumerati

Americans’ Confidence in Economy Falling

65%

A new CNN poll finds 65% of Americans say current economic conditions are good, but that’s down since May, representing the first significant decline in public perception of the economy during Donald Trump’s presidency.

Enumerati

RV Sales Are Another Leading Recession Indicator

20%

Wall Street Journal: “Shipments of recreational vehicles to dealers have fallen about 20% so far this year, after a 4.1% drop last year, according to data from the RV Industry Association. Multiyear drops in shipments have preceded the last three recessions.”

Enumerati

Trump’s Trade War Nudges U.S. Toward Recession

30%

Nearly 70% of economists responding to Reuters poll said the latest developments had brought the next U.S. recession closer.The chances of a U.S. recession in the coming 12 months rose to 30% from 25% in the July poll. The median probability of a recession in the next two years jumped to 45% from July’s 35%.

Enumerati

Another U.S. Recession Looks Likely

60%

Chance of a U.S. recession occurring in the next 12 months, according to Deutsche Bank. “The calculations attach the highest probability to a contraction since the financial crisis,“ reports the Wall Street Journal.

News & Comment

This Week Marks 10 Years Under the Bush Tax Cuts

BushTaxCuts
Please, somebody grab that pen! (June 7, 2001)

In addition to being the day that the word “weiner” stopped being naughty and started being tiresome, June 7 was another milestone. According to self-proclaimed “Corporate Person American” William Rice, it deserves commemoration as the 10th anniversary of the Bush tax cuts.

Rice: ‘The Bush tax cuts created the deficit now being cited as a reason to pretty much scrap Medicare and once again make a college education a pleasant, impossible dream among the lower classes’

It was on June 7, 2001, that President Bush signed into law the high-end tax cuts that added $2.6 trillion to the national debt. It was these tax cuts, along with two wars and a recession, that created the deficit now being cited as a reason to pretty much scrap Medicare and once again make a college education a pleasant, impossible dream among the lower classes.

Rice’s modest proposal says that government is for pansies, unless you’re a corporation and in that case, government is here for you.

We expect the government to continue providing certain vital services, of course, such as huge, no-bid defense contracts; and 24-hour, drive-through patent courts for us to fight over the profits of questionably-useful and semi-dangerous but very well-promoted new drugs. But all the peripheral activities of government — such as ensuring adequate childhood nutrition and repairing drawbridges — merely create a strain on the natural ecosystem of corporations and Corporate-Person Americans.

If Republicans continue to run the economy into the ground by refusing to look at the revenue side of the budget equation, Obama will have to borrow Pres. Reagan’s line when he ran for re-election in 1984, but with a slight adjustment: Are you better off now than you were ten years ago?

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Verbatim

Verbatim

…one of our two great political parties has made it clear that it has no interest in making America governable, unless it’s doing the governing. And that party now controls one house of Congress, which means that the country will not, in fact, be governable without that party’s cooperation — cooperation that won’t be forthcoming. Elite opinion has been slow to recognize this reality…Ben Bernanke, the Federal Reserve chairman…asked for “a fiscal program that combines near-term measures to enhance growth with strong, confidence-inducing steps to reduce longer-term structural deficits.” My immediate thought was, why not ask for a pony, too?

— Paul Krugman, Nobel prize winning economist and New York Times columnist

Enumerati

Maybe the Recession Really Is Over

$2.8 – $3 million

The amount advertisers will pay for a 30-second spot on the 2011 Super Bowl on Fox. The figure is up from this year’s game, when the same ad went for $2.5 to $2.9 million. The 2011 spots are sold out.

Enumerati

September New Construction Figure Exceeds Analysts’ Predictions

0.3%

The amount housing starts rose in September, according to the Commerce Dept. The figure represents a five-month high and a 4.1 percent rise over last September.