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The U.S. economy is currently entering a recession, argues John P. Hussman, Ph.D., the head of an investment company. Others, from both the left and the right of the political spectrum, have similar forecasts about the country's immediate future.
"By our analysis, the U.S. economy is presently entering a recession. Not next year; not later this year; but now," Hussman wrote Monday in a commentary on the Hussman Funds website.
Hussman believes that more evidence that the economy has entered a recession will be forthcoming in the next few months, "but through a constant process of denial in which every deterioration is dismissed as transitory, and every positive outlier is celebrated as a resumption of growth."...
Scott McMahan wrote: So you're saying that if businesses focused on giving customers what they want, they'd go out of business?
Not at the expense of their bottom line, which is what you seem to want; they HAVE to control costs, managing size & quantity etc., or they go out of business. Perhaps what you're seeing is a side-effect of destructive gov't interference in the economy (e.g., health-care benefits, minimum-wage laws, overhead req'd to stay abreast of Federal Register compliance & agency rules, & of course, inflationary monetary policy). That might explain the apparent collusion you accuse them of.
If we're turning into a totalitarian state, it's not because of lawful economic enterprise which you accuse of greed (easy to say, hard to prove), but creeping statism fed by hostility to corporations & capitalism, such as you exhibit.
The only thing I blame corporations for is giving aid & comfort to Progressive politicians & policies (by way of foundations). I can't think of any prominent company or industrialist that supports laissez-faire capitalism & limited gov't. And if any did, they'd probably get persecuted by the Progressive lynch mob (Leftist legal foundations or Fed. agencies).
Mike wrote: Curious, Neil. Just for fun, concerning TP, what would be considered hard evidence?
A smoking-gun email of an agreement between Proctor & Gamble & Unilever, or testimoney of a credible whistleblower, for example â€” something on the level of admissible court evidence. You'd think with all the court TV & movie dramas broadcast for yrs., folks might know a little about this subject by now.
Copying product & marketing ideas (except for patent infringement) is common in business. Car companies even buy, tear down, & study competitors' models. Just as Darwinists fallaciously assume that resemblance implies common ancestry, Scott assumes product similarity implies collusion.
I think the reasoning of armchair legal philistines is, "If it inconveniences me, there must be a corporate conspiracy." This plays right into the hands of Progressive/Socialist enemies of free enterprise.
Neil wrote: Sure I notice such trivial matters. Many cultures still lack TP, so it is untrue to say we have no choice. Are you implying there's collusion? Prove it; I have this crazy idea that Christians are supposed to care about & practice justice, & not make breezy accusations w/o hard evidence.
Curious, Neil. Just for fun, concerning TP, what would be considered hard evidence?
Jim Lincoln wrote: The original Seven Sisters were not state run oil companies,
As usual with your posts, that's beside the point. They were encouraged by the White House to act jointly against Iran, first under your hero "trustbusting" Truman, then by Eisenhower (also a Progressive). Yet even so, who complained about gas prices before OPEC displaced them?
The cartel I have a problem with is the US/Saudi petrodollar cartel, a Nixonian quid-pro-quo which is blatantly unfair to int'l customers for OPEC oil, forcing them to acquire dollars & thus in effect finance our Welfare State beloved by people like you. Perhaps the Chinese & Iranians will undermine this, & we will go bankrupt, as we deserve.
Rockefeller was successful because he provided a quality product customers wanted. Any wrongs he may have committed should've been a matter for business law, not criminal. And he inadvertently helped save the whales by doing so. I want more "robber" barons like him, & fewer thieving crypto-Marxist Progressive Presidents & Congressmen.
The original Seven Sisters were not state run oil companies, Seven Sisters (oil companies) It's a pity that PBS seemed to have lost their series on "Oil" made back in 1986 --to many oil patrons I assume? But the seven sisters go back before Iranian oil fields.
John D. Rockefeller Sr., was not the best example for American Capitalism, as Ida Tarbell pointed out ( People & Events: Ida Tarbell, 1857-1944 The robber barons of yesterday and perhaps today are not that much of a benefit.
One Plate, One Bowl wrote: Well, economists donâ€™t necessarily agree on what the differences are between depressions and recessions, but the best definition I found was this. A depression is when the GDP falls more than 10% over a sustained period of time, usually a year or more. A recession is when GDP declines but is less than 10% over a similar period of time.
Scott McMahan wrote: Neil from Tucson, haven't you noticed all manufacturers do the same thing? There is no choice...
Sure I notice such trivial matters. Many cultures still lack TP, so it is untrue to say we have no choice. Are you implying there's collusion? Prove it; I have this crazy idea that Christians are supposed to care about & practice justice, & not make breezy accusations w/o hard evidence.
Otherwise, it's still a free enough country that they have the right to charge whatever they want, & even imitate ea. other if they like. If they did everything for YOUR convenience, they'd be out of business. Be grateful for what we have, & educate yourself on basic economics as well. Even if there was collusion, I wouldn't care; there are far worse things than corporate cartels (many past examples having been organized by gov't, such as the Seven Sisters oilcos).
Re "postrecession," that's merely begging the question. Your dictionary definition is so vague it's useless. What's "contraction," "limited," "scope," or "duration?"
It doesn't say, so I can arbitrarily define "duration" as 6000 yrs, so we've always been in a recession.☺
Neil wrote: (A) Whether there is a recession or not is an arbitrary value judgment based upon arbitrarily-chosen statistics. Think I'm kidding? See the subjective words & magic numbers used in official definitions, which vary according to source...... (B) I am amazed that I have to repeat this in a Christian forum.
(A) There is no recession in Tucson. But for the rest of the world....
Recession ~ "Economics . a period of an economic contraction, sometimes limited in scope or duration. Compare depression" Source = A Dictionary!
(B) However there is a Christian recession which has been going on for the last five decades or so.
It's irony, that's all. While there is a precise definition of a "recession (involving economic contraction over so many quarters), "the recession" is a mythical thing that happened in 2008 on which every problem can be blamed. Since then, I've noticed we're in boom times - I keep looking for this recession, but can't find it.
Neil from Tucson, haven't you noticed all manufacturers do the same thing? There is no choice. When my toilet tissue brand made the rolls smaller, I bought another brand. It was smaller too. Some old rolls in another brand were larger, but as soon as those sold out, that brand was smaller, too.
Whether there is a recession or not is an arbitrary value judgment based upon arbitrarily-chosen statistics. Think I'm kidding? See the subjective words & magic numbers used in official definitions, which vary according to source.
If you don't like the number of Kleenexes or cable channels (which no one forces you to buy), then find an alternative or do without. Vendors have every right to change their products & prices to suit their needs, & you have every right to reject them. There's NO iniquity in any of this.
I am amazed that I have to repeat this in a Christian forum.
members, click here to sign in - SermonAudio forgets who I am at inconvenient times!
I was trying to say opinions are like noses, and this guy has one too.
Let me know when there are actual signs of a recession. I see colleges paying coaches top dollar not to coach for them, major sporting events getting bigger, free agent salaries getting bigger, cable TV deals getting bigger - if we were in economic trouble, wouldn't some of this be contracting just a little? When people can't afford cell phones, cable TV, satellite TV, etc then we might have some sort of recession.
The recession is mainly an excuse for opportunistic gouging, like Kleenex reducing their 300 ct box to 240, and the cable TV companies deleting more channels from their basic packages.