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US economy enters double dip recession

Published: 26 August, 2010, 03:24
Edited: 27 August, 2010, 07:43


Millions of Americans remain unemployed, US bankruptcies have reached a five year high, China slashed US bond holdings by the largest amount to date and US home sales have plummeted to the lowest level on record.

 
9 COMMENTS
jay kalugin August 26, 2010, 06:15 quote
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What is this fiction about the US entering a double dip recession, how come the rest of the world's media is not talking about it? Is it a RT scoop? What a strange anti-west news source RT is?

Artyom August 26, 2010, 08:43 quote
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I understand RT is just repeating what they are hearing in terms of the Title of this article. American main stream media claims "double dip", but it is so false. They covered it with bailouts and the cover is wearing off. There was never a double as the first dip never ended.

starlight August 26, 2010, 13:04 quote
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This is not double dip recession. What is occurring is a continuation of the collapse of the economy of 2008, which was only slowed down by the massive input of borrowed money by the government to shore up bankrupt institutions which in reality should have been left to go bankrupt and for those that ran these institutions to take the legal consequences. The reality is that the economic engine of the world economy is broken and needed a new engine. Which was opposed by the US and UK, who were in fact responsible for what had occurred by economics based on massive borrowing beyond their means of repayment. The way out of the situation, put forward by GEAB to the G20 conference in April 2009, was not accepted. This was to create a basket of strong currencies to take over the dollar as the currency of stock exchanges in the world to mark up the price of worldwide commodities. The US was not prepared to accept this, neither was the UK. Their preference was a sticking plaster or band aid on the broken engine in an effort to restart the engine. The results are clear to see. Worldwide geopolitical dislocation has occurred, the US dollar is no longer trusted, countries have already started to trade in their own currencies with each other, which is becoming more apparent to the media. The deliberate attempts by the the US to destroy the Euro have failed. We are seeing the slow decline of wall street, and the threats of new wars in the world, led by the US gaining momentum, unemployment gaining momentum, difficulty to pay pensions and social securities. The US must leave their military bases, worldwide, and reinvent a peaceful economy, hard as it may be for their people. The continuation now of what they are doing will lead to catastrophy for themselves and the world to their detriment.

Khalid August 26, 2010, 17:11 quote
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First, what did people expect? Obama and Co dreamed up this stimulus, if Obama and Co provide reports as to its effects, there is a SLIGHT conflict of interest there. Second, The Volt is going to have a $350.00 lease option with not much down, working with peoples finances I can tell you that there are PLENTY of average americans paying close to twice that continuely with car payments. With the technology being new, it would be wise to lease, to avoid any potential issues down the road should there be any. when will obama appoint a spin czar, teller of lies and other miss-information. The government we have now are so inept that they must lie to cover up the grave damage they are doing to the country and the American people. My Grandson and yours will be paying for the foolishness of this administration. They are stashing the cash from the future of our children to stay in power and buy votes. Democrats have no shame on the lengths they will go to stay in power and push the country to a socialist form of unsuccessful governing. That model has never worked. All that does is make a 2 class system. The governing class and all the poor rest of the people.

Srbin August 26, 2010, 18:51 quote
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They are lucky, unemployment rate is 9.5% only, if it wasn't for few wars overt and covert the figure would climb to at least 11.5%. The road to economic recovery and prosperity is paved with more wars.

Fred August 27, 2010, 06:42 quote
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Unemployment figures here in the US are calculated by the people that are getting unemployment checks, ....so 9.5% is misleading; I know at least a dozen people that are unemployed who are not counted because their 6 months or 9 months or whatever collecting checks has run out and are still looking for a job. 15% at least would be reasonable. How about all these people who are working part time or well educated doing menial work, even many that are working have no health benefits etc., KALUGIN, havn't you read any of the papers here or listened to Americans economists predicting for some time DOUBLE DIP RECESSION.....why are policy makers here discussing options to stimulate the economy again,,,,,,you're the one that is prejudiced ....I'll take RT over our corporate controlled news media anytime; why do you think our population is the most uninformed among the advanced nations? Remember 2% own 96 of the American pie which means the media and the politicians too. fred.....oregon, usa

Bill Moylan November 09, 2010, 14:40 quote
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Jay Kalugin RT is not anti-western they just tell it as it is, what ever, double dip recession or not the western media has told lies since the word media was invented. The USA and UK are in it up over their heads. The only way they will be scaled back with their bad economic practices is to boycottte and place embargos on them. As the USA has seen fit to spend all its borrowed money on weapons it would seem they are guilty of maipulating this situation for some time. The only way the world can go against this is boycotte and embargo on a world wide scale.

Bru Raczin November 11, 2010, 04:50 quote
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Well, I guess that here in the US we have to learn to like eating halushki for a while(maybe a long while!)

vivan April 04, 2011, 09:30 quote
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Finance institutions and investment houses that received bailout loans from working class individuals are paying out dividends to the government. Portions of the loans made under the TARP have actually become worthy investments. The loans which were lent to the finance industry are actually making a profit overall. The housing relief programs which were part of TARP did not work out also.

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