Politics from the Palouse to Puget Sound

Friday, August 27, 2010

NATIONAL DOUBLE DIP RECESSION?


Big Brother Wanna Be Obama Can’t Command A Recovery!
BOB CLARK

As many of you know who read my internet column, I have called a double dip recession here in the State of Washington less than a month ago. While our idiot Governor continues to act like she is concerned about the climate change/global warming bunko scheme, she and her big brother buddy Obama continue to ignore the economy; much to their political peril!

However, events this week show that the national economy is now slowly taking the clockwise plunge down that porcelain bowl! First the news that the existing and new homes sales went in the tank last month and at HISTORIC NEW LOWS! Then the shocking news that came from the US Department of Labor that we continue to have about 2 million new unemployment insurance claims per month as more and more people are being laid off in this economy being dominated by Obama-nomics!

A Major Shock hit this morning with the news that REAL GROSS DOMESTIC PRODUCT FELL TO A RECORD LOW OF 1.6% on record imports as US companies failed to export products even with a low valued dollar! That is reflected in a downward plunge in manufacturing in the month of July around the nation (if you back out aircraft sales).

Based on these factors and the fact that the US Housing market continues in the tank, I am calling a NATIONAL double dip recession. We now have over 300,000 new foreclosures around the country with the sales price of existing homes going down and down. I am beginning to believe that the USA may be headed for more than just a double dip; we may actually be in the first stages of a major depression!
***Obama poster copyright Mikechurch dot com

3 comments:

Anonymous said...

These GDP figures are devastating! We are in big trouble in this country and we had better do something this November or all will be lost.

Jeremiah Chaussee said...

What are you talking about. Obama and his economic team said there will be no double dip reccesion and that the stimulas has saved or created something like a billion jobs. Granted they were not in this country, but jobs none the less. This must be a vast right wing conspiracy prepetrated by racist tea party members.

Erin in Renton said...

Oh, I thought this was the Summer of Recovery. No? Darn!