More Americans Believe The Country Is In A Depression Than Growing

Tyler Durden's picture

Probably the only piece of economic news that matters today, and possibly all year, no scratch that, since the "End Of The Recession" (NBER TM) - according to Reuters: "The April 20-23 Gallup survey of 1,013 U.S. adults found that only 27 percent said the economy is growing. 29 percent said the economy is in a depression and 26 percent said it is in a recession, with another 16 percent saying it is "slowing down," Gallup said." That means that more Americans think the country is in a Depression, let alone recession, than growing. Cue crickets and a Bernanke press conference where he discusses alien abductions and 8 toed mutant Madagascar lemurs.

Said otherwise, a combined 71% believe the economy is deteriorating two years after the stock market more than doubled. That can't be right... 

The health of the U.S. economy is expected to be a major issue as President Barack Obama, a Democrat, seeks re-election in 2012.

The government reported on Thursday that U.S. economic growth slowed more than expected to 1.8 percent in the first quarter of the year, as soaring food and gasoline prices drained consumer spending power.

A slowdown in first-quarter growth was acknowledged on Wednesday by the Federal Reserve, which described the U.S. economic recovery as proceeding at a "moderate pace." That was a step back from the "firmer footing" that Fed officials cited for the recovery in March.

The Gallup poll found that Democrats are the most likely to say the economy is growing. Forty-three percent of Democrats said the economy is in a recession or depression, 13 percent said it is slowing down and 42 percent said it is growing.

In other news, Welcome to the Recovery (GeithnerTM)

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The Axe's picture

ChairSatan believes...

rocker's picture

We Are Japan Now.  Yes, we are in just beginning to fall down, with Zimbabwe dollars.

We have a military that is a complete fraud. The Chineese and Russians could eat our lunch.

JW n FL's picture

Green! Shoots!


Fuck All of You(s)! (italian accent')


Ben-O-Cide & InfiniTimmy will show You(s) ALL!

Freddie's picture

You Democrat boy hussein elected by DemTards like you.

JW n FL's picture

Obama $656 Million LOBBY Dollars! Obama Let the FED Print 1/2 a Trillion since Jan 1 2011 The Obama administration has issued a gag order on Gulf’s dead dolphins General Electric $14.2 Billion in Profits, Pays $0 in U.S. Taxes  $39M Dollar Lobby in 2010 $14B in Profits =’s NO TAXES PAID!

$10 billion sale of F.D.I.C.-backed debt

Exxon Mobil $12m in Lobby Monies and *POOF* No Taxes Owed!!


Yes WE CAN!!

EscapeKey's picture

No, the US is most certainly not Japan. Japan financed herself domestically, the US uses a printing press. Big difference.

Thorlyx's picture

yes, but only transitory.

EscapeKey's picture

You mean Japan's state is transitory, or that of the US?

Japan, yep, eventually it'll go horribly wrong.

US; not really, they can't switch off the printing press without catastrophic consequences.

Once QE2 ends, the Federal Reserve will set up swap lines with the PDs in exchange for cash, aka "John Law financing". Repo 105 with the Fed? Book it.

A Man without Qualities's picture

They don't need to. Banks aren't required to hold reserve against Treasuries, so no capital impact. Only risk they run is interest rate (not that you'd see it if put in held to maturity book), so they can either trade swaps with the Fed or they can buy puts.

EscapeKey's picture

But treasuries don't count as reserves, and hence once bought, their reserve ratios would decrease unless swapped (or i guess they could repo them temporarily with another dealer, what an exciting game of musical chairs that would be).

A Man without Qualities's picture

Yes, they just repo between each other as they did with MBS...

rocker's picture

Exactly.  Another thought. Loan reserves are not earnings. Somehow the market didn't catch that.  Repo 105 is alive.

JW n FL's picture
by Thorlyx
on Thu, 04/28/2011 - 15:20


yes, but only transitory.


Quote of the day!

Silver and Gold are as well having multi-decade transitory pricing adjustments.

They will level off once they go above the inflation adjusted highs of all time. this inflation calculator is priceless becuase it has a adjustment built in. Look for the kind of inflation you want in the drop down and its right there. $500+ in shadowstats adjusted inflation dollars, silver for the newbies.

tmosley's picture

America IS communist, I'm sad to say.  The following are the 10 planks of the communist manifesto.  Most have been partly or totally implemented in this country.



  • Abolition of property in land and application of all rents of land to public purposes.
  • A heavy progressive or graduated income tax.
  • Abolition of all right of inheritance.
  • Confiscation of the property of all emigrants and rebels.
  • Centralisation of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.
  • Centralisation of the means of communication and transport in the hands of the State.
  • Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.
  • Equal liability of all to labour. Establishment of industrial armies, especially for agriculture.
  • Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equitable distribution of the population over the country.
  • Free education for all children in public schools. Abolition of children's factory labour in its present form. Combination of education with industrial production.[13]

    Holodomor2012's picture

    It most certainly is Communist.  The bolshevik owned FED has seized more and more control with each passing decade since creation.  After they sniped Kennedy it was all over for the Patriots.  And I am sorry to tell you my Texan friend, Reagan was as much a tool of the communists as all the rest.  Have you seen the picture of him rocking out at the elite NAMBLA convention known as bohemian grove?  I am sure he had plenty of pictures taken to keep him in line.

    Flakmeister's picture

    tmosely, for Christ's sake read up on the differences between Communism and Fascism...

    Holodomor2012's picture

    Fascists = anyone the plutocrats don't like

    Communists = plutocrats

    Capitalists = plutocrats

    tmosley's picture

    Uhhh, I posted the planks of the Communist Manifesto.  If you have a problem with the content, you can have a discussion with the author, whom I am not.

    Flakmeister's picture

    Yes, I am well aware of what you posted. You did preface you post with "America is communist state" or something to that effect, and that is the point I am taking issue with. It is a Fascist state that is transforming into a Feudal one...

    tmosley's picture

    You're nit-picking.

    And feudalism would be a step up, at this point.  We now keep less of our own income than medieval serfs.

    Bobbyrib's picture

    Fuedalism is better than crony capitalism? You have gone too far, or you think you are a lord, not a serf.

    Flakmeister's picture

    I can assure you that Mr. Moseley sees himself in the lordly class...

    You will also notice that if you give him a little rope that he will surely hang himself...

    nmewn's picture


                 An Ode to a Socialist Toad

    Standing at the county line train station, fanning myself with my passport in hand...

    Awaiting the Socialist Express to nirvana land...

    The antennaed travel agent said it would be the trip of a life...

    For he had proclaimed the love of a wife...

    He had assured her that the making of 250k, no matter how trite, would make everything perfectly right... 

    No thought was given to the taxes that were owed...

    Too many complications...nary a mention of value, for the labor of this toad...

    For he was blind as he grasped his papery, thorny thistle...

    And as the train blew by with barely a whistle...

    I heard the agent say hey!...can I offer you some gristle?


    For you my socialist shouldn't have anonymously junked it without critique...I spent all of 15 minutes on it ;-)

    Flakmeister's picture

    Still haven't refuted my comments on Upward Mobility and Personal Happiness have you? Not to mention life expectancy, child mortality rate to name a few others....

    BTW, I never junk posts....

    nmewn's picture

    "Still haven't refuted my comments on Upward Mobility and Personal Happiness have you?"

    Yep, them Greeks, Portuguese, Spaniards et al got all that socialism figured out don't they?

    1) Socialism stifles upward mobility by creating classes of people who become trapped by the states presumed largesse. The state has nothing that it first does not extract from producers. As the producers cut back their labor/production (as it becomes less profitable to produce because of the requirements of the state, this is taxation and/or confiscation) the inevitable decline begins.

    Bailing out banks is crony capitalism (socialism) because capitalism requires malinvestment to be destroyed (cut out of the system) for if it is not, malinvestment continues until system collapse.

    Which brings us to personal happiness.

    2) I'm sure there were many in the lower wage spectrum who were quite "happy" to have finally been able to "purchase" a new home through government sponsered programs. This would be subprime mortgages and we are talking about a slice in time for our polling analysis of their "happiness".

    What has become of these state/socialist programs? They are bankrupt. Why are they bankrupt? 

    Because the purchaser could not afford the debt and the banks who lent the money knew they could off load the mortgages as soon as they were written into "investment" tranches and sold off to the public (socialized risk) with the common knowledge the state would again step in and adopt the twin orphans of FNM/FRE should the whole thing blow up...while still collecting origination fees. They bore zero risk of capital, the state did. It was all highly regulated by the central goverment as is all banking activity. 

    Now, they (the people) have ruined credit and no house.

    You cannot have the state involved in markets. They are supposed to police the markets on the behalf of the people not make markets. 

    It is the same with healthcare. Britain's DHS is moving away from socialized medicine because of its costs to the state and its poor quality. If the best are not compensated properly they will go where they are compensated properly.

    Perhaps this is why you are so giddy about making 250k America...because you could not make it anywhere else, doesn't say much for socialist societies, upward mobility or your happiness over there does it? ;-)

    Now, as my ode to you suggests, you are going to be taxed on your wages at 35%, you are also being penalized for being paid in a depreciating currency which is down around 8% YTD (because of socialist policies, read debt issuance to support entitlement programs...see 1 above)...add in SSI, Medicare, state taxes (if any) and you will make half as much as you think you do.

    Until next time...if there is one.

    Flakmeister's picture

    This started too close to right hand margin...

    Spain, Greece and Portugal are not fair comparisons. These countries have always been basket cases. Let's discuss Germany, France, Sweden, Norway, Finland, Denmark, Switzerland and Canada. You can add Japan as well.


    What does a sub-prime loan have to do with anything? Real Estate is not subsidized in the countries I brought up. Please explain why Canada has a higher rate of home ownership than the US.

    Now if socialism stifles the upward mobility of the masses, then how do you account for this:

    The original study is here:

    Maybe chew on this for a bit:




    Do not confuse socialism with bad goverment policy. The U.S. is incredible at this, I mean seriously, the country motors on in spite of itself.

    Tell me how Germany with it's social democratic government can be such a powerhouse? It is, along with Japan, the preemminent manufacturer of high quality products.

    BTW, the state had better be involved in the Markets as a functioning regulator. Did you not learn anything from the past 30 years in the US? Why are the Canadian banks in such great shape? Could it be that are in effect publically regulated utilities?


    Have you ever dealt with a functioning single payer health care system? I can assure you that once you do you will never want to go back. Ever have a child denied insurance because of a pre-existing condition? Ever get screwed on a claim? I waited 6 weeks for a MRI for a torn rotator cuff with a plan that cost $1800 a month while the health care bean counters grilled me on whether it was an "accident"....


    BTW, I am not giddy about making that amount and it was 5 yrs ago, I am now semi-retired. And having lived in Europe, I can assure you that my quality of life was higher when I made $95,000 a year there compared to making $105,000 a year living near Chicago or making $250,000 in Westchester.


    I have a meeting with a client in 1/2 hour. So I may not get back to you.


    One final note: Any use of ad hominems will constitute an admission of defeat.



    nmewn's picture

    When trying to discern whether to invest money or further time in anything I read from the end to the beginning...this serves me well once again;

    "One final note: Any use of ad hominems will constitute an admission of defeat."

    ROTFLMAO!!!... ground rules are established mutually, not unilaterally...and certainly not imposed on me by you.

    "BTW, I am not giddy about making that amount and it was 5 yrs ago,..."

    So, you were being a deceitful prick (as I suspected) from the very outset of our conversation when you wrote this;

    >>>I'm here because some one offered to pay me $250,000 a year and then I met someone that convinced me to stay...<<<

    This is exactly why I hate fucking socialists...obfuscating, disingenuous, lying made it seem as though this was your situation now while trying three times using this to extract wage information from me and yes, that's an ad hominem attack directed at you.

    Flakmeister's picture

    You loose shit head....can't even debate the points I raise, you are just another red-neck southern fucking hillbilly.... fuck you..

    nmewn's picture

    Bite me you fucking communist don't know what the fuck your talking about. 

    Switzerland is a capitalist economy you stupid fuck...Germany is holding the bag on the aforementioned PIGS and is thoroughly fucking screwed and they know it...Japan???...fucking Japan???...your serious???...LOL. Finland has so many geriatric fucktards like youthey will be importing young people from everywhere just to keep the fucking country from collapsing on demagraphics alone, you stupid shit. 

    France is the fucking basket case your looking for...hairy arm-pitted ugly bitches that are just now starting to shower instead of use perfume to cover their cheesy stench as their effeminate boyfriends snivel about an honest work week of what, 35 hours now?

    And all of their GDP combined would fit in a fucking tea stupid fucking asshole.

    I'm supposed to be impressed by a blizzard of absolute bullshit by a gray headed lying socialist suffering from dementia who doesn't know what the fuck he's talking about?

    Get a life outside of making a pitiful spectacle out of yourself...fucking pussy.

    Flakmeister's picture

    Face it looser, you can't debate me on the points. You are full of empty bile and hollow  soundbites. You strike me as an angry 20-something. And you know, I sympathize with you, you and your generation were fucked. Nonetheless, you do need to grow up and learn about the world.  

    Flakmeister's picture

    Oh I forget to mention that I used to work in Switzerland. You have no fucking idea what you are talking about...

    nmewn's picture

    You are undoubtedly one of the dumbest fucks I have ever run across here at ZH...the major party in Switzerland is the SVP built up by Christoph Blocher, who is decidedly not a leftist, as leftists don't support laissezfaire economies and individual liberty & freedom...leftists are fucking statists like you.

    Quite the international woman of mystery ain'tcha?

    In point of fact...the one you have been conversing with a classical liberal, it is how I define myself. Myself and others like me have recoiled in horror over the years in what the democratic party has become in this amalgamation of communists/socialists with a freak show of transvestite anarchists in tow...which is all fine and dandy until you impose yourself on the rest of society. The pubs ain't much better...but at least they now give the appearance of fiscal sanity & individual liberty...and I too want the Patriot Act & DHS done away with.

    Now...getting back to this mountain of fucking lies you're building up for yourself to just so happens I had an MRI done recently...the wait was one week (I could have done it the next day if I wanted, it was my choice to delay for a week)...I just had surgery based on its results (I'm at home now recuperating) insurance costs 250 a month which is a 20% increase over last year since ObamaCare was rammed down our throats under the guise of "social responsibility".

    So your either lying again about your MRI, costs and the reasons they didn't want to cover it or you're one of the stupidest consumers around...I'm going with the former...for now.

    You better fact check yourself before you post anymore're going down in flames here Heinrich...LOL.

    boiltherich's picture

    Several good points on both sides, but we all know that pure communism does not work, and pure capitalism does not either because capitalism is in effect a small group of parasitic individuals that exploit and destroy the masses of poor in order to create untaxed dynastic wealth for the few.  This would not be so bad as long as they do not get too greedy, but they always do and by doing so over-concentrate capital into too few hands resulting in dislocation and the end of opportunity to advance for the poor.  That is key, they ALWAYS get greedy and when the numbers of poor become large enough or angry enough the resulting blow-back will be very unpleasant.  It might be a socialist revolution, communist, vast new regulation, a wealth tax, fascism, you never know before hand but it will be something we do not like.

    Every time two or more people got together with the aim of working together, to build, to make family, to found a tribe or nation there was unequal division of work and of wealth, that is just life so get used to it.  But, when unequal division of wealth and work go beyond the personal merits of the worker or citizen to the point where they know they cannot be paid a fair share of the national income no matter how long or hard they work then they will stop working, or worse sabotage the means of production.  The denial of opportunity is to them a violation of their basic civil and human rights, there are a lot of examples around the world of what happens to a privileged class that exploits a structrual underclass, South Africa for example, and one need not attach a great deal of sentimentality to this, it is just a fact.

    One of the things that many people are missing in all of this, which surprises me because of your presumed familiarity with compounding interest, is that anytime a society allows a smaller and smaller group of people to take a larger and larger share of the national income it is in essence the same thing as compound interest.  If the wealthy do not redistribute their wealth voluntarily the people will eventually have to redistribute it for them involuntarily, some look at the underclass as rabid unwashed (and unwashable) human trash out to get them, that is also a fact, but the simple arithmetic of it is that half of our 310 million people now live in structural poverty which they cannot possibly escape through personal merit, and most of the rest while not in poverty per se also know that the barriers to wealth and a better life for their kids make their situation one where they feel they have a better chance of getting ahead from a lottery ticket then from work, clean living, and clever self application.  When a society gets to that point it is on borrowed time. 

    Flakmeister's picture

    I suggest that you may want to post to a more recent thread that is current:

    Freddie's picture

    Thanks to POS Dems like you who voted in the Islamist.

    Texas Gunslinger's picture

    I have a problem with the author, and I have problem with you promoting it!


    It is not surprising to me that someone who proudly berates Christians would also try to promote communism in America. 

    I never knew there were so many communists/sosialists/fascists/progressives in America.  The last two years has been a real awakening for me, and I encourage all true American patriots to get involved.  Get active. Do whatever you can (locally or nationally), because our country is under ATTACK!

    God be with us. 

    ColonelCooper's picture

    Since when is acknowledging somethings existence, promotion?  Your shit is so over the top now, I'm thinking you must be Hamy.

    Freebird's picture

    You gotta be a happy puppy to know the Great one is "reinvesting", no...?

    akak's picture

    TG, I think you have a reading comprehension problem.

    equity_momo's picture

    Dude youre actually quite funny. Are you one of the puppets from Team America?

    boiltherich's picture

    How did you manage to leave us fags out of your tirade?

    Ned Zeppelin's picture

    welcome, our newest comic relief -Texas Gunslinger. 

    Hilarious dude, keep it coming. 

    akak's picture

    Actually, Ned, I am feeling a bit bad now --- at first I took him/her for a troll, then as a farce, but in fact I am coming to believe that he/she is posting in all seriousness.  I'm going to back off myself.

    Cathartes Aura's picture

    I'll go out on a limb here and say it's definitely "he" - and it smells suspiciously Red Neck Republicant-ish (from his early troll days, not the more recent ones before he dis-appeared). . .

    coming in full force all caps, among other little *tells* - doubt it will be around for long.

    but sure, no need to harass, trolls not fed soon get bored.

    Clancy's picture

    The differences are superficial.  Structurally they are identical.

    Inspector Bird's picture

    Is there a differentiation between Crony Capitalism and Socialism/Communism?  No.  Ayn Rand showed how Fascism was really just Socialism.  Socialism is public ownership and management of all business.

    Fascism is private ownership and public management of all business. 

    In socialism, the state tells the company what to do and takes the profits.

    In fascism, the state tells the company what to do but lets the management keep the profit.


    As Rand pointed out - what's the difference?  Who keeps the money?  So what.  The point of business is to build, progress, act and react to market forces.  If management is being handled by the state, it matters little where the money is going.  In both situations the profits are accruing to a moneyed and preferred class of people - that being the only difference, and a minor one.


    Fact is, the US has been moderately socialist for quite some time, and becoming increasingly so in the last 40 years.   The only thing we have left from the free market is the entrepreneurial spirit and attitude, but we are taking strides to kill that as well.

    rocker's picture

    Exactly, I'm not a patriot if being such means giving up my Freedoms for a false Security.

                For those deserve neither liberty or safety.

               I'm not a patriot if being such means I support Crony Capitalism and stay quiet in the face of it.

               Those my friends are thieves of our nation and should be held accountable. 

    To the bozo who thinks I'm not.  I stand in complete attention to the star spangled banner. Never Waver.

    I do not say thank you for your service to fellow comrades of the military, I honor them with respect.

    Do I think this nation has given up too much of it's Freedom.  You Bet I do.

    "We are Japan Now" means we are a lost nation who might give up decades because of the Cronies who run the FED.

    Nobody of value has gone to Jail and I'm still hopeful it will happen.

    So, to Bozo, I say watch more TV.  They will tell and expain to you how to think.   I "thinks" for myself. LOL 


    Spastica Rex's picture

    First thing we need to do is get children out of schools and back to work doing the jobs that foreigners have taken.