Obama confident no 'double-dip' recession coming

[The Northerner]

CHICAGO – President Barack Obama says he is confident the nation will not suffer the "double dip" of back-to-back recessions.

The rebound of the U.S. economy appears to be slowing, prompting fears that the nation will slide into recession again after a brief period of growth.

Obama told a CNBC interviewer he was confident that won't happen.

He acknowledged that much work remains on problems such as long-term unemployment. But the president expressed confidence that the economy is moving in the right direction.

U.S. economic growth slowed to 2.4 percent from April to May, down from 3.7 percent in the first three months of the year.

Source: http://news.yahoo.com/s/ap/20100805/ap_on_bi_ge/us_obama_no_double_dip

[EmilyKent]

1. Oh I wish he hadn't said that.

He's going to wish he hadn't said that too.

[Cant trust em]

5. Yep. Famous last words is all I'm thinking. nt

[The Northerner]

19. I agree

There needs to be some acknowledgment of the current economic downturn but I'm not so certain that the possibility of a double-dip recession can be ruled out.

[MadHound]

2. This just in,

CHICAGO - President Barack Obama spent the day whistling past the graveyard.

[Warpy]

3. Yeah, the same "dip" on Main Street will just continue to get worse

but Wall Street will continue to fly above it all on imaginary money.

We're fucked, seriously.

You can't choke off the demand side and leave it that way and expect any sort of recovery.

[blindpig]

23. They'll sell to the growing Chinese and Indian middle class

That'll keep 'em going for a few more quarters and they can't see farther than that.

What a year. Can there be a shred of doubt that Capitalism only benefits the few to the detriment of the many?

[DJ13]

4. Its no wonder Romer is leaving

He's in the grip of Larry Summers, and nothing can shake him out of that stupor.

[MidwestTransplant]

6. We aren't heading for a double dip despite Republicans best efforts. And if we are,

he's not going to be re elected anyway so may as well not worry about being wrong and instead instill confidence.

[stevebreeze]

7. double dip? that implies significant improvement. at some point in time.

we are on a long slow slog through the dregs of mediocrity. We will improve but it may take a long time. It may take the GOP taking over and another screaming crash before the Democrats realize the shit we are in.
We MUST tax the rich and stimulate the economy before we will recover.

Money is power and we have to have more of it in the middle class. until we do the economic insecurity will defeat any chance of recovery.

[Sherman A1]

12. Agreed

There would have needed to be an improvement and I really haven't seen much of one.

[Poboy]

14. Yeah, does that means we are peaking right now?

Obviously we aren't in a trough in his view, so we must be soaring.

[blindpig]

24. Define 'we'.

That's operative.:evilgrin:

[Wilms]

8. I've had 3 1/2.

I still remember Bill Clinton introducing Obama at the 2004 convention and thinking, "we're gonna get played in four years".

:shrug:

[spin]

9. Now I am worried...

I personally feel the recession is ending but still there is a long road ahead.

Obama has a poor track record on economic predictions. Hopefully, this time he is right.

[Hawkowl]

10. Just when I think he can't surprise me

He stuns me with his stupidity. Even his nice speeches are intolerable because they fly in the face of reality.

[Cronus Protagonist]

11. I would have him say nothing less. Our leader needs to set the tone...

...and that's the right tone, although I would wish he had stated it more strongly.

"kick:

[MadHound]

15. Yes, we the people love being lied to

And that's essentially what this is. We can see it for ourselves, in the numbers coming out, in our own personal lives.

Sorry, I don't think that the public is a bunch of children who need to be force fed happy, happy, joy, joy crap. Give us the truth, straight up, and let us handle it. We've been fed far too much BS over the past decade, we don't need it to continue.

[Cronus Protagonist]

16. Think about what would happen if our president said "the economy is going to tank more"

You know it would be the end of his presidency. It would also come true. Obama is not in a position to tell us the economy is fucked, so it's madness to expect him to do so. He needs to stay positive and lead, not cause shifts in the global markets with irresponsible commentary.

[MadHound]

17. What, you think we're a bunch of little kids who can't handle bad news?

You can inform the American people that we're in a bad way without going overboard, hell, other presidents have done it before.

But really now, a president who lies, and whose lies are blatantly obvious, how much tolerance do you think the American people have for a president like that?

[Cronus Protagonist]

18. ABSOLUTELY

Not you, personally, but the nation's and the world's banksters are notoriously immature and on a hair trigger. And you know this, so I hope you don't have any money in the markets when you call for Obama to say "we're fucked", no matter how much spin or framing is on it.

[Poboy]

13. Okey Dokie.... -nt

[taught_me_patience]

20. Translation: "Benny... fire up the printing presses right now!"

"We're going to 'make it rain'"

[Tierra_y_Libertad]

21. Did he sing a few bars of "Happy Days are Here Again" while wearing rose colored glasses?

[deaniac21]

22. Chill