So the mearkets are dropping, and there is concern

[nadinbrzezinski]

that either we are in a recession or going into a double dip.

Hey Jay Carney... the WH is not concerned? Mkay... and we are.

Oh and the policies coming out of DC... don't help.

[DJ13]

1. 9% unemployed arent a concern

Millions losing their homes arent a concern.

Our elderly struggling with Social Security not giving a COLA for two years is not a concern.

A few thousand wealthy people losing some money on stocks, now THAT will be a concern.

[geckosfeet]

30. Millions of average and lower to middle class Americans will lose wealth

in the form of retirement account losses, company issued stock losses, 401k losses, currency devaluation, job loss, property devaluation, etc. etc.

It is nearly everyone. It is not just a few thousand wealthy people. If it were, I would agree, why worry. The wealthy have the resources to recover and thrive. However the vast majority do not have those resources. And the safety nets that used to help those that stumble along the way are being systematically taken apart.

[Imajika]

2. The markets are now factoring in a double dip...

I can understand Carney being cautious and not predicting the worst case scenario, but it's clear the markets are beginning to do just that.

We really need a decent jobs report tomorrow. Even if it only matches modest expectations, that might stem the sell off. If tomorrow's unemployment report shows no or negative job growth - the market could really crash.

[nadinbrzezinski]

15. I get it, but this is why the statement yesterday was

down right STUPID.

If we the little people can see it... it makes them lose all kind sof credibility and tells me that this man is a great leader while running for office, not while in office.

[Common Sense Party]

23. How can someone be a great leader when they're merely running for office?

In 2008 he wasn't "leading" anyone. He was selling and marketing.

There's a difference.

[nadinbrzezinski]

26. And he told you exactly what the score was

so when running he will tell you the truth, but not when in office.

That is a mark of a coward to me... or a machiavellian that really lives in a real bad thick bubble... (which the Presidency partially is)

[Whisp]

3. .

[Octafish]

4. Where are the jobs?

Full Employment was one of those things Old Democrats used to be concerned about.

[piratefish08]

5. weren't you listening? jobs are now, again, for real this time, the #1 priority.....

after everyone is back from vacations, birthday parties and bus tours.



hold on FAA! they're coming to the rescue!

[Octafish]

12. Oh, thank Moon. I was worried it was going to be more welfare for Wall Street.

America should spare no expense to help the billionaires of the world.

[Javaman]

13. Give it time, remember election season is just starting...

They will sing the song of more jobs from coast to coast while giving more gifts to the wealthy who create vaporware employment.

This is the new reality, much like the old one, only with much more BS.

[snappyturtle]

16. +1000!

[SpiralHawk]

6. RepubliBaggers have laid another Massive Economic Turd

They are reliable that way...

[msongs]

14. sorry charlie it is the baggers and dems/obama turd now nt

[SpiralHawk]

18. Nah. Ain't gonna swallow that Republicon rationalization

This is a crapload straight out of the RepubliBagger Diapers.

Depends upon it.

[nadinbrzezinski]

17. Sorry they both own it

[L0oniX]

7. DIE!

[Warpy]

8. The double dip mostly applies to the stock market

The last dip saw policies that disproportionately helped the stock market by shoring up the financial system.

This time, they won't work.

The human beings who have paid the highest price, workers over 45, never saw any sort of recovery. It's still the same damned depression to them.

[ozone_man]

32. Real estate is already in a double dip.

That is confirmed and it does affect everyone. I would go further to say that it is a primary driver, that leveraged debt still needs to unwind before there can be consumer health (GDP) again. The stock markets have just been living in a bubble state, priced to stratospheric levels. They will come down, eventually. Way down.

[Warpy]

33. Did real estate prices ever really recover?

The drop might have slowed a bit but it's been a drop, nonetheless.

The stock market was artificially propped up by largesse to the richest. That's why it's experiencing a double dip, it was the only thing that actually saw any recovery.

[Common Sense Party]

36. No. Real Estate is still in the first dip. Prices have yet to hit bottom.

[Warpy]

41. I made the mistake of checking my Dad's house out on Zillow

I sold it for $208,000 after his death, slightly over 10% less than the comps and people thought I was crazy for letting it go that cheaply.

I last checked a couple of weeks ago and it was at $64,500. This is a three bedroom house with a pool on a barrier island off the coast of Florida, usually prime real estate.

At this rate, it'll be at the $30,000 he paid for it in 1974 in another couple of years.

[ozone_man]

43. No, but thee MSM tried to pitch it as a recovery.

When you do correlations, sometimes the "W" is a little bit lopsided, but the correlation is still high. I.e., the housing market did not drop as precipitously the pas two years, but is should the next two years. And the stock market too.

http://blogs.forbes.com/afontevecchia/2011/05/31/case-shiller-home-price-index-officially-double-dips-goldman-cautiously-optimistic/

The more important concept is that all markets will be heading down, some faster than others. Only the dollar will be going up. For a year or two anyway, as liquidation of assets runs it's full course.

[emulatorloo]

9. To me, the markets are a lot like an erratic toddler.

Seems to me to be a delayed reaction to the possibility debt ceiling would not be raised. I could be wrong.

I guess we will know in the weeks ahead.

[nadinbrzezinski]

19. As Imajika pointed out upthread

If the job report tomorrow sucks... you might see a crash.

Yep, they know it's coming and even Wally Mart is seeing their profits down... (Comes from people not being able to buy... demand and all that, but DC ain't gotten that message yet)

[mmonk]

10. It's pretty much guaranteed with more budget cutting coming.

[nadinbrzezinski]

20. Yep, absolutely

But folks do not understand that

[Javaman]

11. wait till moody's and S & P down grade our credit rating

than things will get really interesting, real fast.

I think I have a wheelbarrow somewhere around here for my new wallet.

[nadinbrzezinski]

21. Negative outlook, they placed us on negative

and that alone is spooking people.

[Nye Bevan]

22. I don't understand why anyone would listen to those crooks.

They're the people who said that the subprime CDOs were just fine.

[Javaman]

27. the half wits in charge still listen to wall street

so why would it be a mystery as to why they would listen to moody or s&p?

[librechik]

24. The markets don't like the prospect that govt will stop spending

That's their money!

[leeroysphitz]

25. This admin only cares about deficit reduction. Little things like jobs and lives don't matter. n/t

[Odin2005]

28. The Meerkats are dropping? OH NOES!

:)

[mahatmakanejeeves]

35. Won't someone think of the meerkats?

[obxhead]

29. Jay was saying something we're not used to... the truth.

The WH doesn't give a fuck about any of us. The people there are just watching this fall looking for ways to make a buck at this point.

[slackmaster]

31. You misspelled "meerkats"

[nadinbrzezinski]

34. Now they are down 400 points, just now on MSNBC

can we call this a crash yet? Or not yet?

[Shagbark Hickory]

37. I believe the term you are looking for is "crisis".

[nadinbrzezinski]

38. Actually soon it might be depression

pay attention to GDP

[Shagbark Hickory]

42. Repukes are tearing down the sandcastle

[Tierra_y_Libertad]

39. "Who could have predicted....." Nice job Timmy.

[woo me with science]

40. This "deal" is a knife wound in an already very sick economy.

Way to go, Washington.