"We're Going Right Back Into The Tank" - Businessinsider.com

[Soul Crusher]

http://www.businessinsider.com/henry-blodget-were-going-right-back-into-the-tank-2009-8

"We're Going Right Back Into The Tank"

Henry Blodget|Aug. 27, 2009, 11:47 AM|36

PrintTags: Economy, Financial Services, Housing, Housing Crisis, Recession, Real Estate, Mortgages, Editors' Picks, Investing
We had Howard Davidowitz on TechTicker yesterday.  Don't miss this one...

Heesun Wee, TechTicker: When retail expert and all-around economy watcher Howard Davidowitz appeared on Tech Ticker in February declaring the worst was yet to come for the U.S. economy and that Americans' standard of living has changed permanently, our comment boards lit up.

But surely with the latest rally off the March lows, bearish Davidowitz is more bullish, right? Not a chance. Look at your financial history books.

Two of the biggest rallies of more than 40 percent occurred during the Great Depression, says Davidowitz of Davidowitz & Associates,a retail consulting and investment banking firm. "People were sucked in and ultimately were destroyed," he says. It's a warning to today's investors, who are hoping to extend the rally.

Don't get Davidowitz started on the economy or fundamentals. "Barack Obama's numbers have all gone mad," Davidowitz says. The Obama administration recently announced the U.S. budget deficit will be $9 trillion during the next decade; $2 trillion higher than the original forecast.

 And, the proposed price tag for health-care reform? "Minimum $3 trillion," Davidowitz says. "One trillion? Are you kidding?"

Stimulus binges? Roller coaster equity performance over years? Stubborn consumers holding out for sales as deflationary pressures loom over the recovery? Sounds like the U.S. economy is turning Japanese, Davidowitz says.

GOOD VIDEO AT THE SITE:

http://www.businessinsider.com/henry-blodget-were-going-right-back-into-the-tank-2009-8

[MM2K]

If Roubini is right and we go into a double dip recession, Obama can kiss a second term goodbye. This isnt the 1930s.

[Soul Crusher]

If Roubini is right and we go into a double dip recession, Obama can kiss a second term goodbye. This isnt the 1930s.

Celente actually did a good interview that we are far more vulnerable than in the 1930's considering many people are not as self sufficient as they used to be and far more dependent on the govt for food, water, etc. 

[shootfighter1]

8 months into the presidency and there is minimal overall economic improvement with a staggering increase in the deficit and spending over the next several years, tons of unfilled promises to diverse groups and no change in the tone or business in washington as promised.  This campaign was expertly marketed, the substance has not nearly met the expectations set.

[BM OUT]

8 months into the presidency and there is minimal overall economic improvement with a staggering increase in the deficit and spending over the next several years, tons of unfilled promises to diverse groups and no change in the tone or business in washington as promised.  This campaign was expertly marketed, the substance has not nearly met the expectations set.

WRONG!!!!His plan is EXACTLY where he wants it.The total destruction of our econominc system so he can remake it in the way HE sees as fair.His plan is working to perfection.He wants utter chaos and failure to abound so people look to the government for more help and are dependant on it for their very survival.Then they controll everyone and everything.