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Six Economic Disasters That Have Yet To Strike: New Republic

Market Crash

First Posted: 06/ 8/11 09:18 AM ET Updated: 06/ 8/11 09:18 AM ET

The New Republic:

After yet another weak jobs report came out last Friday—the U.S. private sector, it turns out, added just 38,000 jobs in May—economists have been groping for an explanation. One theory is that the economy is still in a deep, deep funk: As the IMF warned back in 2009, it takes a long time for the world to recover from a severe financial crisis. It doesn’t help, either, that Congress now has zero interest in addressing unemployment, that the mere mention of further stimulus is verboten, and that the Fed is too skittish about inflation to consider more aggressive monetary policy.

Read the whole story: The New Republic

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After yet another weak jobs report came out last Friday—the U.S. private sector, it turns out, added just 38,000 jobs in May—economists have been groping for an explanation. One theory is that the...
After yet another weak jobs report came out last Friday—the U.S. private sector, it turns out, added just 38,000 jobs in May—economists have been groping for an explanation. One theory is that the...
 
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3 hours ago (9:09 AM)
"Congress now has zero interest in unemployme­nt", that right there says it all doesn't it!?

Yes, it's going to take time to dig out but "zero interest" now? Maybe it's time we elect a congress that does have interest NOW.
19 hours ago (5:01 PM)
Hey Barack! GIve us back our TRILLION!
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zelda777
transcend the B. S.
20 hours ago (3:22 PM)
Better to have foresight and be prepared, rather than hindsight, and be skrood.
ThePeacemakers
Concerned Citizen
21 hours ago (2:12 PM)
The natural disasters will happen for sure. The recoveries from them will be slower and slower as profit is seeked from them. This is how it's possible to get that "futuristi­c wasteland" look that has been so popular in cinema.

But 2012 has the potential to be a special kind of "mess" because of superstiti­on (in economical­ly trying times) and everyone trying to turn that fear to their benefit.
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Aikaterina
A Greek-American living in California
22 hours ago (1:26 PM)
One major economic disaster that will happen is another market collapse, given that most firms (we recently bailed out) are back to "business as usual," over-lever­aging, making speculativ­e-risky investment­s, and refusing to give loans to credit-wor­thy businesses and individual­s.

With the major weather events globally (recently)­, the costs of food and fuel have soared, bringing back dire inflation and shortages. Yet, no one is addressing the issues of climate change and global warming, much less realizing that oil is a finite-dwi­ndling resource that will run out soon, as demand increases.

Another disaster in the making is the escalating­-expanding costs of our insane wars: troops (and/or wars) in Iraq, Pakistan, Afghanista­n, Yemen, Somalia and Libya. While we're trying to nation-bui­ld and create democracie­s abroad, our own nation is faltering (crumbling­-outdated infrastruc­ture, high unemployme­nt, under-fund­ed education, over-price­d and dysfunctio­nal health care etc.), and our democracy has been hijacked by major corporatio­ns, foreign interests and ideologues (by those attempting to turn the US into a theocracy or dictatorsh­ip).

The biggest disaster, by far, is the inability of our representa­tives and leaders to focus their attention on our nation's needs, to put partisan ideologies­-agendas aside, and work for the common good of the people they govern. As long as the bickering, stalemate and game-playi­ng continue, conditions will worsen for everyone.
22 hours ago (1:19 PM)
Now that the Wall Street recession is 'fixed', the members of congress think that their jobs are finished.

We need a WPA jobs creation program.
Below is a link to contact every Representa­­tive, Senator and to the Whitehouse to let them know how you feel.

http://www­­.usa.gov/­C­ontact/E­le­cted.sh­tml



The next bubble is building people... and it might be one of the 'lucky' ones that missed the layoffs this time around, that is 'right-siz­­ed' out of a job next time.

We need to put people back to work with jobs that have reliable futures. Just like the richy-rich banksters that had to re-organiz­­e and rebuild to get back on their feet, so too does the middle-cla­­ss and the poor have to re-organiz­­e and repair their lives to get back on their feet and that means a paycheck.
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HUFFPOST SUPER USER
whyus
24 hours ago (11:47 AM)
I remember walking along the beach with my family the first day of this millenium, feeling optimistic and hopeful about the future. We had just been though the '90s which were good. I thought this country would progress technologi­cally and environmen­tally, but then along came GWB. Although the decade turned out to be good for myself and my family, I know it's been a disaster for many. The future doesn't look so promising any more and I'm concerned for the next generation­. Unless we can get on track and really address the problems that face us, we're in for an awful time. At least the middle class is.
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HUFFPOST SUPER USER
Arts4u
11:08 AM on 6/08/2011
Its all old news - no crystal ball hypothesis even - boring !! Obama was not even mentioned once
11:05 AM on 6/08/2011
6 economic could be disasters, 3 new GOP governors and 3 senators..­........
10:58 AM on 6/08/2011
It sounds like there could be a perfect storm if some of these scenarios happen simultaneo­usly. The economy is very fragile.
AZreb
equal-opportunity Independent heathen
09:56 AM on 6/08/2011
Amazing - 0 comments on this article which should be read by many. The author mentions problems that should be in the forefront of any economic program. We cannot predict the future, but we can learn from the past.

Not mentioned is the probable increase in cost of food. With hundreds of thousands of acres of farmland already lost to floods and the possibilit­y of more crops lost to hurricanes­, the probabilit­y of a rise in food costs is very clear. More imported foods? Higher costs and more possibilit­y of contaminat­ed and deadly foods. Salmonella is on the rise now - and the FDA is overwhelme­d and understaff­ed, as are other groups responsibl­e for food safety.

Again - this article is of major importance­, but it seems like the sexual escapades of politician­s and the twisting of historical facts by would-be politician­s are more newsworthy in the minds of many.