re: Clearly no recession has ever ended before.

This is clearly unlike any previous recession. We are in uncharted territory. There is nothing in the past that can inform us about the present situation, as it is unprecedented.

Suggested reading:

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The Consumer Credit Game Is OVER

...we cannot simply borrow our way out of the box - despite unprecedented decreases in Fed Funds and unprecedented "liquidity programs" all of mortgages, consumer credit and household assets either flat-lined or fell dramatically while at the same time there has been effectively no growth in per-capita income.

In other words we hit the wall even through the cost and availability of funds received unprecedented "support" from both the government and Federal Reserve.

There is no more borrowing capacity among consumers as a group. Contraction of this magnitude and rate-of-change is NOT occurring by choice; consumers are being forced to either pay down or default debt they cannot afford to carry. It is no longer possible to expand outstanding consumer credit - that is, we cannot "pull forward demand" any longer, as the consumer's per-capita income, even with short-term interest rates at ZERO, is insufficient to support further credit issuance.

...we are in fact headed for a sovereign credit, monetary system and thus GOVERNMENT failure if we don't stop! WE MUST accept a contraction to sustainable levels of economic activity and STOP trying to substitute for consumer demand with government borrowing or we WILL witness the collapse of our governing funding model when those who loan the government money realize that the US consumer is INCAPABLE of resuming their former credit-expansionist way of life. (MORE)

http://tinyurl.com/nq76ts

Corrected urls:

Charles Biderman:

http://www.youtube.com/watch?v=i1MVBea6Qaw

Max Keiser:

http://www.youtube.com/watch?v=d-UUBTASHHU

TrimTabs' CEO Charles Biderman Discusses Massive Insider Selling

“Insider selling is 30 times insider buying, while corporate stock buybacks are non-existent. Companies are saying they don’t want to touch their own stocks…When companies are heavy sellers (of their own stocks) and retail customers are borrowing to buy stocks, that’s always been a sign of a market top.”

http://www.youtube.com/watch?v=i1MVBea6Qaw

Apocalyptic warning from Karl Denninger:

"We can either have a bad economy now, or a potential collapse of our society later. Those are our choices, ladies and gentlemen."

http://www.youtube.com/watch?v=0DgPiECl62Q

Karl says:

If any part of your economic thesis going forward requires that consumer borrowing expand in order to foster economic growth you are wrong and everything you believe that depends on that is also wrong.

Max Keiser: "US is on the slippery slope to economic collapse"

http://www.youtube.com/watch?v=d-UUBTASHHU&eurl

Global stock markets could crash in October as the much hoped-for economic recovery fails to materialize, Dr. Enzio von Pfeil, CEO of EconomicClock.com, told CNBC

http://www.youtube.com/watch_popup?v=oxt8EvnwBss

Enzio says:

How on earth can the demand for goods rise if the supply of jobs keeps shrinking?

Much like women after 40.

re: it's pretty common knowledge among Hoosiers that you can put the word "Amish" in front of any product (some of very dubious Amishness) and make it sell like hotcakes

Hmmm... That gives me an idea for a new website: amishpornstars.com

I'll make 'em all wear a bonnet.

:)

http://tinyurl.com/kjdhku

...Sarah is describing the first time she saw Scorpio naked.

:)

“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”

-Warren Buffett

http://www.nytimes.com/2006/11/26/business/yourmoney/26every.html

And the sheeple say "baaah".

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Why Is American Support for Unions at an All-Time Low?

Fewer than half of Americans say they approve of labor unions, according to recent Gallup survey data.

http://tinyurl.com/lbfl4v

My response:

http://tinyurl.com/l6vbke

re: society is owed a great deal for having made the rich wealthy, for having provided the economic infrastructure which made their wealth possible

To paraphrase Churchill: "Never was so much owed by so few to so many."

Record Part-Time Employment

http://tinyurl.com/n8mu6e

Record U-6 Unemployment

http://tinyurl.com/lmonxd

Record Unemployment For 6 Months Or Longer

http://tinyurl.com/mzyfwf

re: Even the "liberals" sincerely believe that everything will eventually get better and willfully dismiss all the evidence showing that it's really not going to be ok.

Nouriel Roubini (who always hedges his "rebound" predicitons) is starting to state this more clearly:

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"I also see a small probability, but a rising probability, that if we don't get the exit strategy right we could end up with a relapse in growth ... a double-dip recession...I think that too many people are hopeful that everything is fine and unfortunately the road ahead is going to be at best bumpy, if not worse," he said.

http://finance.yahoo.com/news/Roubini-Ushaped-recovery-is-rb-3221405059.html?x=0&.v=5

re: Liberals in other countries have frequently commented on how the US can hardly be said to have "liberals", since most so-called "liberals" seem to prefer to be called something else, like "progressives", seemingly ashamed to known as liberals. A "centrist" is even worse, as if there's some strange virtue in capitulating to right-wing vultures.

SEE:

http://tinyurl.com/nrshjl

:)

re: One suspects that US corporatism in general, and the global banking cartel in particular, could not have succeeded so well in their corruptions, and continued to succeed, if the American people were not themselves so corrupt.

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Too many of us look upon Americans as dollar chasers. This is a cruel libel, even if it is reiterated thoughtlessly by the Americans themselves.

--Albert Einstein