A Quick Primer On Why Everyone Thinks The Economy Is Headed Into The Toilet Agai

[MNeagle]

A Quick Primer On Why Everyone Thinks The Economy Is Headed Into The Toilet Again
1/20
It all starts with unemployment, which is still close to a post-Depression high. (And the recent drop has been helped by people dropping out of the workforce)


Three months ago, everyone was jubilant: The economy was headed for a v-shaped recovery, job growth was kicking in, and consumers were about to start spending, spending, spending again.

But now, suddenly, everyone thinks the economy is headed back into the tank.

Aside from noting the obvious--when it comes to economics, the consensus is usually wrong--it's worth reviewing why everyone has suddenly become so pessimistic again.

So here's a quick primer (http://www.businessinsider.com/a-quick-primer-on-why-everyone-thinks-the-economy-is-headed-into-the-toilet-again-2010-7) <Click for great slideshow

http://static.businessinsider.com/image/4b86c7ba7f8b9a5e570b0400-393-295/great-depression.jpg


Read more: http://www.businessinsider.com/a-quick-primer-on-why-everyone-thinks-the-economy-is-headed-into-the-toilet-again-2010-7#ixzz0tTOGXj5a

[Saul Mine]

That's not what people think, it's what they observe. The official economists can't keep anybody believing their idiotic lies any longer.

[ximmy]

Three months ago, perhaps only government controlled or supportive entities may have trumpeted a heavenly recovery idea... "Three months ago, everyone was jubilant: The economy was headed for a v-shaped recovery, job growth was kicking in, and consumers were about to start spending, spending, spending again."