patrick.net

...and the Bernake will do nothing.

Nice job Benny. Fucking pathetic:

http://patrick.net/?p=688797

Treas. Sec. Timothy Geithner emphatically stated (for the left, that means like he really, really means it) that he is "for a strong dollar." Being that he works for the Obama Administration, AKA, the Ministry of Truth, we must all confess here and now we believe. Repeat the following 100 times:

The Dollar is Strong.

War is Peace.

Freedom is Slavery.

Ignorance is Strength.

Remember to SUBTRACT 62k from the bogus BLS numbers to be issued next week Friday as working ten hours per week at a fast-food outlet should not be considered "a job."

Gee, I wonder how many full-priced houses those manufacturers (fast-food workers are now included) will be buying with their wages in the future?

RayAmerica says

I know what you are thinking; it’s been 24 months since the recession ended and jobs are still being lost.

Why would anyone be thinking that? It's a complete and utter lie.

it’s been 24 months since the recession ended and jobs are still being lost.

This is a decent chart:

showing that personal income is crawling back from the collapse of 2008, but since we were flying so high in 2006-2007 we are still in recessionary territory (now is worse than the tech recession and just as bad as the 1991 and mid-1970s recession).

What Ray is too stupid to understand of course is that it's been the deficit spending -- mild as it was -- that has been keeping things together 2009-2010.

I've posted this chart several times and I'll post it here since I think it tells the story perfectly:

?g=kP

The blue line is YOY debt increase by households and corporations in the US.

The red-line is YOU increase in gov't spending.

Here you can see the 1997-2000 "good times" as private debt increased at a $1.2T/yr rate.

Then see it zoom up to TWO TRILLION per year in 2003-2006. That was the "Bush Economy", baby.

The rise in government spending in 2009 is just a little squib compared to the immense credit flow that got cut off in 2008.

Here's the same chart zoomed into 2005-2010:

http://research.stlouisfed.org/fred2/graph/?g=kQ

Can you find the 2009 stimulus? LOL

It's quite miraculous we still have an economy. If the House & Fed Republicans continue monkeying with things they may find the bottom falling out again.

But I don't have a solution to this problem, really. I dislike Krugman's let's throw money at things since money has a way of not getting to the people who need it, plus we as a society haven't got to the point that we acknowledge that people have a right to what they "need" anyway.

Things are going to have to get worse before they get any better, I expect.

Troy says

Things are going to have to get worse before they get any better, I expect.

There you have it.

http://www.youtube.com/watch?v=GTQnarzmTOc

Duke it out, gentlemen.

sfbubblebuyer says

http://www.youtube.com/watch?v=GTQnarzmTOc

Nice.