July 30, 2012
— Ace As Instapundit says, did we exit the first one? (Answer: No, because we're in a depression. The Great Depression featured periods of weak growth, followed by fresh contractions, too.)
The slowdown announced Friday — on top of another slowdown in the first quarter — is further proof that the president’s class-warfare economic rhetoric and policies are pushing the country perilously close to a double-dip recession.The numbers are pretty stark: Growth of 2 percent for the first quarter was already scary, down from around 4 percent at the end of last year. A few years out of a stiff recession like the one we had, the economy’s normally roaring, not sagging back down.
So the drop to a 1.5 percent growth rate for the second quarter is really quite staggering. At this rate, we could be in double-dip territory even by Election Day, as consumers continue to slash their spending and businesses their investments.
...
And make no mistake: A double-dip recession would be pretty bad stuff.
Read on. It could be quite bad. Upside: Easy election win; downside: a horrendously deep contraction with unemployment in the upper teens.
Posted by: Ace at
11:32 AM
| Comments (131)
Post contains 199 words, total size 1 kb.
ROMNEY'S FAULT!!!!!
(it's good if we practice hearing this)
Posted by: The Mega Independent at July 30, 2012 11:34 AM (8VqI6)
Posted by: Mikey NTH - Monday afternoon at July 30, 2012 11:35 AM (hLRSq)
Posted by: 50 Shades of Lazy writer at July 30, 2012 11:35 AM (r2PLg)
Posted by: The Mega Independent at July 30, 2012 11:36 AM (8VqI6)
Posted by: Christopher Taylor at July 30, 2012 11:37 AM (r4wIV)
"50 shades of a stalled economy"! Wooohoo! I'm gonna be rolling in it!
Posted by: Chi-Town Jerry at July 30, 2012 11:37 AM (f9c2L)
Posted by: mallfly at July 30, 2012 11:37 AM (bJm7W)
Posted by: steevy at July 30, 2012 11:37 AM (6o4Fb)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at July 30, 2012 11:37 AM (8y9MW)
Posted by: Christopher Taylor at July 30, 2012 11:38 AM (r4wIV)
Posted by: Merovign, Dark Lord of the Sith at July 30, 2012 11:38 AM (bxiXv)
Posted by: Barack Obama, SCOAMT at July 30, 2012 11:38 AM (8y9MW)
Posted by: steevy at July 30, 2012 11:38 AM (6o4Fb)
Posted by: Youthful Doofus at July 30, 2012 11:39 AM (WGmy2)
Ya know, when you fly out to S.F. Kalifornia, It's like Ace is ome industrious early-to-rsie type. I may never head back to Pennsylvania...easy to say until i encounter a few hippies.
Posted by: Buzzsaw90 at July 30, 2012 11:39 AM (SO2Q8)
Posted by: phoenixgirl, team dagny at July 30, 2012 11:39 AM (Ho2rs)
Posted by: 50 Shades of Lazy writer at July 30, 2012 11:40 AM (r2PLg)
Posted by: Buzzsaw90 at July 30, 2012 03:39 PM (SO2Q
Just remember to wear flowers in your hair and pack a .45
Posted by: model_1066 at July 30, 2012 11:40 AM (YbQJm)
Posted by: Hal Burton at July 30, 2012 11:40 AM (iYvMQ)
"He watched her economy expand ever so slowly, then contract over and over again.
Deeper and deeper it went.." Huh? Huh? I think I got a winner here! NYT Best Seller!
Posted by: Chi-Town Jerry at July 30, 2012 11:40 AM (f9c2L)
Posted by: willow at July 30, 2012 11:40 AM (TomZ9)
Posted by: Soothsayer at July 30, 2012 11:40 AM (9Q7Nu)
Posted by: Vic at July 30, 2012 11:41 AM (YdQQY)
Posted by: no hope; no change at July 30, 2012 11:41 AM (HOOye)
Posted by: WalrusRex at July 30, 2012 11:42 AM (Hx5uv)
Posted by: Lauren at July 30, 2012 11:42 AM (wsGWu)
Posted by: steevy at July 30, 2012 11:42 AM (6o4Fb)
Distractions...distractions...distractions....
Posted by: laceyunderalls at July 30, 2012 11:43 AM (pLTLS)
Posted by: Zombie FDR
..........
A crisis of that magnitude is about the only thing that could save Obumble's ass..
Posted by: Chi-Town Jerry at July 30, 2012 11:43 AM (f9c2L)
Posted by: Christopher Taylor at July 30, 2012 11:43 AM (r4wIV)
Posted by: well, I've had my food stamp party, have you? at July 30, 2012 11:44 AM (HOOye)
Posted by: Flatbush Joe at July 30, 2012 11:44 AM (ZPrif)
Posted by: Mr Pink at July 30, 2012 11:44 AM (3wSrM)
Posted by: Lauren at July 30, 2012 03:42 PM (wsGWu)
We're thinking about leaving, fuck you Yankees.
Posted by: Zombie Sam Houston at July 30, 2012 11:44 AM (3ZjAP)
Headline on Bing: Corporate CEOs donate to Romney by a 4-1 ratio.
'Cause, you know, those evil CEOs are all Mr. Monopoly types who sit around all day wiping thier butts with $100 bills while the 99 percent of us starve in the streets.
Posted by: Damn Sockpuppet at July 30, 2012 11:44 AM (YmPwQ)
Posted by: AllenG (Dedicated Tenther) SMOD 2012 at July 30, 2012 11:45 AM (8y9MW)
Posted by: Oldcat at July 30, 2012 11:45 AM (z1N6a)
forward...
FORWARD...
Posted by: The Mega Independent at July 30, 2012 11:45 AM (8VqI6)
Posted by: Mark at July 30, 2012 11:45 AM (wnif0)
Posted by: Michelle Obama at July 30, 2012 11:45 AM (QKKT0)
Posted by: the chaos, riots and violence Obama wanted is coming to a town near you at July 30, 2012 11:46 AM (HOOye)
Posted by: RarestRX at July 30, 2012 11:46 AM (9ct4e)
Posted by: Flatbush Joe at July 30, 2012 11:46 AM (ZPrif)
Posted by: willow at July 30, 2012 11:46 AM (TomZ9)
Posted by: the chaos, riots and violence Obama wanted is coming to a town near you at July 30, 2012 11:46 AM (HOOye)
"Last September, President Obama put forward a detailed legislative plan—the American Jobs Act—to do just that. The jobs plan would keep teachers, firefighters, and police officers on the job, put construction workers back to work, and cut taxes for small businesses that hire and invest and businesses that bring jobs home. But Republicans in Congress have blocked this plan. As a result there are now 1 million Americans who are unnecessarily out of work"
in other words, creating government jobs is the only way they know, because you didn't build that.
Posted by: mallfly at July 30, 2012 11:46 AM (bJm7W)
I've actually seen the left trot this one out a few times, but it never goes anywhere. I wonder if they're sitting on it until September or something. It seems like such an obvious, if painfully false, attack line.
Of course, blaming businessmen for creating a horrible economy doesn't exactly open up wallets for those fundraisers Obama is constantly on...
Posted by: Christopher Taylor at July 30, 2012 11:47 AM (r4wIV)
I'll go down as the SECOND worst president, when the Chinese write the history books.
Posted by: Jimmah, the econd worst president evah at July 30, 2012 11:47 AM (3ZjAP)
Posted by: CharlieBrown'sDildo (NJConservative) at July 30, 2012 11:47 AM (nEUpB)
"Friend --
This isn't hyperbole or exaggeration:
If we don't win this election, it will be because we didn't close the spending gap when we could.
Because right now we're seeing that voters have a choice between two very different men.
And the only way someone like Mitt Romney -- who's asking Americans to put him in charge of their taxes while refusing to come clean about his own, who wants to repeal Obamacare, end Medicare as we know it and give more tax breaks to billionaires who don't need them -- defeats someone like Barack Obama, is if the other side spends us into oblivion."
couldn't be because "we" did a lousy job...
Posted by: mallfly at July 30, 2012 11:48 AM (bJm7W)
Posted by: conservative governor? jobs up at July 30, 2012 11:48 AM (HOOye)
GDP "growth" calculations should ALWAYS take government deficit spending out, since that is clearly funny-money goosing the present by stealing from the future. It is beyond disingenuous to borrow and spend 8% of GDP and then claim that GDP has grown by 2%. Not even Bernie Madoff would have thought to try something so transparently stupid.
Annual Feral DEFICIT: > 8% of GDP
Annual Ephemeral "Growth": < 2% of GDP
This is the clear proof that we never left the recession. We haven't had any actual growth in GDP since the Indonesian Dog-Eater slimed into office and turned this nation in the American Socialist Superstate. How's that A.S.S. taste, now?
Posted by: ThePrimordialOrderedPair at July 30, 2012 11:49 AM (X3lox)
Posted by: 50 Shades of Lazy writer at July 30, 2012 11:49 AM (r2PLg)
This is the best indicator of a Romney victory of all possible indicators. They're betting on a Romney win, they always back the winner. Always. Less astute people think this equates buying a winner, but what it means is that they can see who's going in and want to be on his good side.
Posted by: Christopher Taylor at July 30, 2012 11:49 AM (r4wIV)
Posted by: Lauren at July 30, 2012 03:42 PM (wsGWu)
We've been trying to get rid of you for years.
Posted by: The oh so sophisticated Northeast at July 30, 2012 11:49 AM (nEUpB)
Posted by: President Wee Wee at July 30, 2012 11:49 AM (/ZZCn)
Posted by: Mary Cloggenarteries from Blahbityblah, VT at July 30, 2012 11:50 AM (QBSWR)
So, the growth periods back then was at least growth mostly in the private sector; setting the stage for the recovery later.
Here, nearly all of the growth has been in government and government related industries.
Outside of energy and a tiny bit of manufacturing, all of the growth has filtered through the swamp of corruption, graft and kickbacks of Washington.
How long is it going to take for us to get to recovery when most of the growth has been in industries that produce nothing, do nothing yet is on a path to consume everything?
Posted by: RoyalOil at July 30, 2012 11:50 AM (imtbm)
Posted by: laceyunderalls at July 30, 2012 11:50 AM (pLTLS)
Posted by: barrel full of monkeys at July 30, 2012 11:50 AM (HOOye)
The only problem with Texas is that... well its Texas. I couldn't stand that climate.
Posted by: Christopher Taylor at July 30, 2012 11:50 AM (r4wIV)
Not counting some 10% real inflation.
And you call this a Depression.
Posted by: Ten at July 30, 2012 11:51 AM (56DAY)
Posted by: barrel full of monkeys at July 30, 2012 11:51 AM (HOOye)
Yes folks.... and for just a $49.95 contribution to our campaign, we can show you Obamanomics! The NEW Economics rules for the NEW economy!
Such things as: How to borrow your way out of debt!
and "How to make the Rich Guy pay for YOUR Free Lunch"!
and a special article from Imhelt, the Leader of General Electircs, and our Jobs Council, on how to Outsource Jobs and pay NO NET TAXE!
Posted by: Obamanomics! at July 30, 2012 11:51 AM (lZBBB)
pretty sure dropping un-employed from U insurance rolls will help. (dem party at real work) helping for better numbers local66forobama
hiding the homeless-mediaatwork.
Posted by: willow at July 30, 2012 11:51 AM (TomZ9)
Posted by: Albie Damned at July 30, 2012 11:51 AM (D02+k)
Posted by: Adam Smith's Invisible Pimp Hand at July 30, 2012 11:52 AM (ZhEoC)
Wuss. It's only 105 Today.
Honestly, though: that's why we have A/C, and why we don't so much have "Day Laborers" as we do "Dusk and Dawn Laborers." You adapt. I would think that for a job, many people would adapt quite readily.
Posted by: AllenG (Dedicated Tenther) SMOD 2012 at July 30, 2012 11:52 AM (8y9MW)
You do see irregular "hey, the packaging is getting smaller in your stores" stories though. That one slips through the cracks because its a kick in the crotch of business. See, they're ripping you off!
Posted by: Christopher Taylor at July 30, 2012 11:52 AM (r4wIV)
Posted by: President Jugears McFuckstick at July 30, 2012 11:52 AM (8sCoq)
How long is it going to take for us to get to recovery when most of the growth has been in industries that produce nothing, do nothing yet is on a path to consume everything?
Posted by: RoyalOil at July 30, 2012 03:50 PM (imtbm)
Whenever the deleveraging is finally done, then things can start to get back to normal. But that's going to take a while. Especially with unemployment so bad.
If Obastard had actually wanted the stimulus to work (he didn't - it was money laundering) he would have had way better luck just giving away the money to facilitate the debt pay downs needed to carry off the necessary deleveraging. It would have been better than the nonsense we did get.
Posted by: Reactionary at July 30, 2012 11:53 AM (xUM1Q)
Posted by: willow at July 30, 2012 11:53 AM (TomZ9)
>>>>..but the f*cking paradoxical irony is that the imbecile would get credit for it
I can handle that. Get him out and we'll all give him a "moral victory".
Posted by: Roy at July 30, 2012 11:54 AM (VndSC)
Posted by: Barky O'Genius at July 30, 2012 11:54 AM (QKKT0)
Posted by: Christopher Taylor at July 30, 2012 11:54 AM (r4wIV)
Posted by: Adam Smith's Invisible Pimp Hand at July 30, 2012 11:55 AM (ZhEoC)
a) I have nothing to do with the ongoing discussion and
b) The same crap that should have been hashed-out 6 months ago is being re-re-rehashed.
Posted by: AllenG (Dedicated Tenther) SMOD 2012 at July 30, 2012 11:55 AM (8y9MW)
This idiot thinks double-dip is a type of ice cream cone and is wondering what all the fuss is about.
In the long line of dopes in history, he is truly a standout.
Posted by: Exile at July 30, 2012 11:55 AM (TMH2t)
Posted by: The oh so sophisticated Northeast at July 30, 2012 03:49 PM (nEUpB)
How you boys going to like $5 a gallon gas? Hope you've stored up a lot of natural gas for your fucking stoves, cause we'll be keeping ours.
Posted by: Zombie Sam Houston at July 30, 2012 11:55 AM (3ZjAP)
Posted by: @PurpAv at July 30, 2012 11:56 AM (K6BxI)
Posted by: AllenG (Dedicated Tenther) SMOD 2012 at July 30, 2012 03:55 PM (8y9MW)
Yeah.... us too... thats why we don't bother with meetings anymore...
Posted by: Whitehouse Cabinet at July 30, 2012 11:56 AM (lZBBB)
How does a black woman get hair like that?
I denounce myself for my blatant racism.
Posted by: TheLittlShiningMan at July 30, 2012 11:56 AM (PH+2B)
Yeah, I go to the grocery store and see a sign that says LOW PRICE!, and I think, that's more than the thing cost 6 months ago
and the store brand peanut butter? they're stretching it with molasses
I blame President Numbnuts and his illegal war in Afghanistan
Posted by: Jones in CO at July 30, 2012 11:56 AM (8sCoq)
And never forget, I wrote our charter specifically to attract the kind of people who would revolt against a tyrannical government.
Posted by: Zombie Moses Austin at July 30, 2012 11:57 AM (8y9MW)
Hope you've stored up a lot of natural gas for your fucking stoves, cause we'll be keeping ours.
Posted by: Zombie Sam Houston at July 30, 2012 03:55 PM (3ZjAP)
LOL. Nat gas is the least of our worries. There's so much coming out of the ground all over the nation that it's practically coming out our ears. They're cutting back production just to get the stuff profitable to produce again.
Posted by: Reactionary at July 30, 2012 11:57 AM (xUM1Q)
Posted by: Christopher Taylor at July 30, 2012 03:38 PM (r4wIV)
Just like the Democratic controlled House and Senate pulled shennigans with the DOD payroll moving it from the end of the month of 30 September 1987 to 1 October 1987. Thus moving about $3 billion dollars from one fiscal year to the next and presto, they claimed to "balanced" the budget.
Posted by: Johnnyreb at July 30, 2012 11:57 AM (ATMd4)
And if we did, we'd have a gentle recession, a "U" shaped one?
And most of us who are not full of shit said: "That's bull. All that will happen is a bunch of money will get wasted, we'll be even worse in debt and it'll worsen any recession--even making it longer. Look at Japan, they still haven't recovered from trying to manage the blow (they deserved)."
We were right, weren't we?
There are a lot of people on the right who relied on "smart people" who need to be shamed for that.
Posted by: RoyalOil at July 30, 2012 11:57 AM (imtbm)
I denounce myself for my blatant racism.
Posted by: TheLittlShiningMan at July 30, 2012 03:56 PM (PH+2B)
She's NOT Black, she is an Iranian. Really, google it up.
Posted by: Billy Bob, pseudo-intellectual at July 30, 2012 11:57 AM (3ZjAP)
The skies above doubleplus-clear again,
So lets sing a song of doubleplus-cheer again...
Doubleplus-good days are here again!
Posted by: nickless at July 30, 2012 11:58 AM (MMC8r)
Next year it will be stretched with the maximum allowable insect parts, rodent hairs, and vermin feces.
Posted by: @PurpAv at July 30, 2012 11:58 AM (K6BxI)
Foolish question, of course. Almost no business is going to do anything notable until mid-November unless it is getting a federal contract that necessitates spending for acute reasons. This economy is going nowhere pretty much regardless of what happens across the pond. Plus, odds are Europe won't be escaping its spiral any too soon either. Our economy is boned for the short term and will see only sustainable, significant growth well into next year... if a Romney administration and a conservative legislature steps up and does the economically, not politically, pragmatic thing. But the first step to health is to dump Team Obama and all its legacy. I figure just about every business that prefers free enterprise understands this.
Posted by: AnonymousDrivel at July 30, 2012 11:59 AM (eHIJJ)
Posted by: derit at July 30, 2012 11:59 AM (ruiF1)
At this point, Zero needs a Deus Ex Machina for any positive help from the economy.
All he and his MFM cohorts have left is to continue to throw trivial shitballs at Romney and hope to squeak by on fraud and the idiot vote.
I'm actually looking forward to the debates.
Posted by: Damn Sockpuppet at July 30, 2012 12:00 PM (YmPwQ)
Posted by: cranky-d at July 30, 2012 12:00 PM (STLAb)
Total increase in Nominal GDP from 2009-2011 in dollars (non-adjusted absolute dollars): $1.2 trillion
Total increase in Real GDP from 2009-2011 (in constant dollars): $600 billion
And then we have the deficits from 2010, 2011, and on and on ...
Posted by: ThePrimordialOrderedPair at July 30, 2012 12:00 PM (X3lox)
She's NOT Black, she is an Iranian. Really, google it up.Posted by: Billy Bob
She's half-black, born in Iran to American parents.
Posted by: weft cut-loop [/i] [/b] at July 30, 2012 12:01 PM (5FvTK)
Posted by: TheLittlShiningMan at July 30, 2012 12:01 PM (PH+2B)
Good point, you want to get it in OUR pipeline? Also, we're thinking, fuck you all completely. Check out were the gasoline refineries are in the country.
Let's see gas in TX let's make it a buck a gallon. Gas elsewhere, let's make it $8 a gallon. We are going to need some revenue to build up our army and air force and you Yankee's will just have to pay.
Have a nice day.
Posted by: Zombie Sam Houston at July 30, 2012 12:01 PM (3ZjAP)
Posted by: steevy at July 30, 2012 12:02 PM (6o4Fb)
http://tinyurl.com/d86uubf
Posted by: Zombie Sam Houston at July 30, 2012 12:04 PM (3ZjAP)
We'll find out who's side the Saudi's are on come November.
They DO love Clinton, but would Clinton give them the nod to decrease gas even further?
Posted by: barrel full of monkeys at July 30, 2012 03:50 PM (HOOye)
The Saudis are on the side of Wahabism and profit, not necessarily in that order.
Posted by: joncelli, heartless Con and all around unpleasant guy at July 30, 2012 12:04 PM (RD7QR)
Posted by: @PurpAv at July 30, 2012 12:04 PM (K6BxI)
Look for a new post from me in a little bit, but if we needed any additional validation that Vic is right about the stupidity of the VRA...
http://bit.ly/NTLnGy
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at July 30, 2012 12:06 PM (8y9MW)
Posted by: nickless at July 30, 2012 12:06 PM (MMC8r)
Posted by: Christopher Taylor at July 30, 2012 12:07 PM (r4wIV)
Posted by: Christopher Taylor at July 30, 2012 12:08 PM (r4wIV)
Posted by: Lauren at July 30, 2012 12:08 PM (wsGWu)
Regarding Texas and its weather, it is what makes the comparison between Texas and California so start. CA is blessed with the same resources as Texas. It doesn't have as much oil, but it has much larger fertile fields and a coastline that is unmatched, with ideal weather. Yet, Texas is booming, has been for almost 100 years, with a minor hiccup in the late 80's. While it is nice here in the winter, the summer is pretty tough. ND is the same, crappy weather, too. CA - way to squander all your natural advantages.
Posted by: SH at July 30, 2012 12:09 PM (gmeXX)
112. Someone bought the Marcus Hook refinery and is keeping it open.
I think they make jet fuel.
Posted by: Damn Sockpuppet at July 30, 2012 12:11 PM (YmPwQ)
Sorry.. I just thought I would document it here since this window was up and will timestamp it. no specifics are coming through. So just ignore this.
Posted by: Chi-Town Jerry at July 30, 2012 12:17 PM (f9c2L)
>>>Remember how everyone told us we had to--HAD TO--support TARP because otherwise we'd have a painful, catastrophic recession?
No, but I remember them telling us that about the Failulus. TARP, as proposed, was the right call even if it raped every principle I ever held. As executed, it turned into a prop for labor and AIG.
If principled wingnuts like me can be blamed, it is for underestimating what big government is capable of fucking up.
Posted by: spongeworthy at July 30, 2012 12:20 PM (r5w1L)
Posted by: Mary Clogginstein from Brattleboro, VT at July 30, 2012 12:21 PM (48wze)
The Economy is drowning!
It's bobbing up and down.....and will soon be going down for the last time.
Posted by: wheatie at July 30, 2012 12:23 PM (mtRB0)
Posted by: Mikey NTH - Monday afternoon at July 30, 2012 12:31 PM (hLRSq)
Inflation will be obscene. And it will actually be a problme Mitt inherits. So you can image how nuts the media will go and try to pin blame on him.
I think preemptive warning...its going to be hard ot get anything done with high inflation.
Posted by: Barack Obama is still a stuttering clusterfuck of a miserable failure at July 30, 2012 12:33 PM (qxcKC)
Posted by: spongeworthy at July 30, 2012 04:20 PM (r5w1L)
No, it wasn't. TARP could have been correct (and legal) as Congress certainly has the responsibility for maintaining the integrity of the monetary system, but TARP wasn't even proposed to be limited to that. In the end, it ended up even worse than it was in its faulty and illegal initial proposition (as no toxic assets were ever purchased by TARP, save GM and Chrysler, which clearly were outside of TARP's realm, no matter how anyone cuts it) but it was totally flawed from the very first time Hank Paulson pulled the $750 billion figure right out of his ass. No one even bothered to ask where he got that number from ... and he clearly got it from nowhere.
The monetary system had to be saved, if it was truly at risk (no one knew because no one knew the details of any of the situation) but that was not what TARP was originally proposed to do. It was far more wide-ranging from its defective inception.
Posted by: ThePrimordialOrderedPair at July 30, 2012 12:34 PM (X3lox)
Posted by: theCork at July 30, 2012 12:36 PM (hbAdE)
Sort of like how keeping the interest rates as low as they are is keeping the debt from exploding even faster but they have to be raised.
Like the CRA and other nasty surprises, the Democrats have set up several bombs in the economy waiting to go off when there's a responsible president in office.
Posted by: Christopher Taylor at July 30, 2012 01:04 PM (r4wIV)
Yes, he's making noises about QEIII.
Posted by: Christopher Taylor at July 30, 2012 01:04 PM (r4wIV)
Posted by: Christopher Taylor at July 30, 2012 05:04 PM (r4wIV)
Yep. If Romney wins you know Bernanke will finally start reducing the Fed's $3 trillion+ balance sheet pretty damn quickly (as he has to eventually, anyway). I don't think this nation has the courage or intelligence to withstand the pain that is coming after these years of printing, borrowing, and interest suppression. People don't even have a clue what's coming our way.
I throw things at the TV every time Bernanke is testifying and, if someone even bothers to ask about reducing the Fed's balance sheet Bernanke replies that they are confident they can do it without any consequences .... and the questions move on. Are there really no intelligent people left? I just don't know what to say about this anymore as it is so totally insane. I guess people are scared of the answer - the clear crushing pain that we have to experience some time very soon - but that's still no excuse. I don't know if Romney has come to terms with what he's going to have to deal with, either. Interest rates are going to have to go up (and they will be let loose under Romney since the Fed feels "they can") and our debt service is going to be ridiculous. Default is likely going to be the only solution. And the left set all this up in three quick years, but not secretly. Everyone has watched the gas being poured on house and the leftists standing there with blowtorches waiting to light it all up like the other hussein lit just about every oil well in Kuwait on fire as he was being allowed to retreat in one of the most embarrassing military defeats in all of human history.
It's coming.
Posted by: ThePrimordialOrderedPair at July 30, 2012 01:24 PM (X3lox)
I think they make jet fuel.
They make everything now. Jet fuel would make sense, since PHI is next door.
Hard to drive with jet fuel, it is basically kerosene. Won't work in your car.
Posted by: Zombie Sam Houston at July 30, 2012 01:35 PM (3ZjAP)
Posted by: Jmel at July 30, 2012 02:00 PM (c+D8V)
If Romney wins in November, it will be OK for the MFM to finally start talking about how bad the economy has been for the last three years.
And you know who'se fault it will be? THE REPUBLICAN CONGRESS! ...wait...HOUSE!
And Romney (and the Republican Congress, in whatever capacity it actually exists after election) will have until February 1st to start making massive corrections, before the "hard hitting" questions of "President Romney, you've had fourteen days in office so far. What have you done to help the average American?"
Posted by: reason at July 30, 2012 02:40 PM (sPO/s)
Posted by: Baldy at July 31, 2012 05:35 AM (opS9C)
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Posted by: model_1066 at July 30, 2012 11:33 AM (YbQJm)