Worst drop EVER: US economy plunges over 31% in second quarter

[F-22Raptor]

Oh I will wait for that day (soon to come) and when that day comes, be sure that I will tear you and your kind apart like a ruthless savage on a rampage. Till then, enjoy your little fantasia, pretty boy!!

Your tears are delicious.

 

[Nasr]

TBH I have been hearing this since 1988 but it never happens. The only thing that happens is that the living conditions of the blacks get worst each decade and the crime rate goes up. Nothing else.

By 1988, Regan administration was in full swing for the first phase of what is taking place now. They had to do it this way, to draw out their narrative that america is the land of dreams, the american dream. That was the magnet which attracted talent and brilliant minds from across the globe to america.

The zionist own and control the west, particularly america. The zionist agenda is the empowerment of israel, and since 1948, till now, israel has received massive financial and military aid courtesy of (dumb@$$) american tax payer dollars. Countries (Muslim) surrounding israel have been destroyed by american military, one by one. And today, israel stands as the most powerful state militarily with nuclear weapons, in the Middle East. All thanks to these dumb@$$ americans. While americans themselves have witnessed the culling of its middle class, whole sale.

Today, we stand at the precipice, where america for the first time in history (since the creation of this illegal state of israe) move it's embassy from its capital Tell Aviv, to Jerusalem. Indicating that america has for the first time come out openly to render it's full and unconditional backing of israel.

Now is the time, when israel is reaching it's ultimate goal. The usefulness of america is no longer relevant. As such, it is now and not 1988 or any other time after, that the collapse of america is imminent. The scale of dedollarization by Russia and China, pales in comparison to what their own (Wall Street) are doing.

So these idiots can rant all they want, the reality is staring at them down the barrel. The game is almost up ... the final phase is upon us. Frankly speaking I give a rats@$$ where these pathetic fools (westerners) believe me or not. For all I know, these zionist parasites trolling on PDF. My concern are my people, my fellow countrymen, my Muslim brothers and sisters.

Your tears are delicious.

Keep squealing, chump ... that's right, keep squealing!!

 

[PAKISTANFOREVER]

By 1988, Regan administration was in full swing for the first phase of what is taking place now. They had to do it this way, to draw out their narrative that america is the land of dreams, the american dream. That was the magnet which attracted talent and brilliant minds from across the globe to america.

The zionist own and control the west, particularly america. The zionist agenda is the empowerment of israel, and since 1948, till now, israel has received massive financial and military aid courtesy of (dumb@$$) american tax payer dollars. Countries (Muslim) surrounding israel have been destroyed by american military, one by one. And today, israel stands as the most powerful state militarily with nuclear weapons, in the Middle East. All thanks to these dumb@$$ americans. While americans themselves have witnessed the culling of its middle class, whole sale.

Today, we stand at the precipice, where america for the first time in history (since the creation of this illegal state of israe) move it's embassy from its capital Tell Aviv, to Jerusalem. Indicating that america has for the first time come out openly to render it's full and unconditional backing of israel.

Now is the time, when israel is reaching it's ultimate goal. The usefulness of america is no longer relevant. As such, it is now and not 1988 or any other time after, that the collapse of america is imminent. The scale of dedollarization by Russia and China, pales in comparison to what their own (Wall Street) are doing.

So these idiots can rant all they want, the reality is staring at them down the barrel. The game is almost up ... the final phase is upon us. Frankly speaking I give a rats@$$ where these pathetic fools (westerners) believe me or not. For all I know, these zionist parasites trolling on PDF. My concern are my people, my fellow countrymen, my Muslim brothers and sisters.


Keep squealing, chump ... that's right, keep squealing!!

Bro, you may be right. I just don't know. But from what I have seen, read and heard, since about 1988/89 generally speaking the living standards of white americans keep getting better whereas those of blacks and Latinos keep getting worst.

 

[Hamartia Antidote]

Bro, you may be right. I just don't know. But from what I have seen, read and heard, since about 1988/89 generally speaking the living standards of white americans keep getting better whereas those of blacks and Latinos keep getting worst.

There is a bigger picture that people are missing that has to do with a Supreme Court case that has doomed people who do not do well in school and made Universities money making machines.

Griggs v. Duke Power Co. | Civil Rights, Employment Discrimination & Supreme Court Case | Britannica

Griggs v. Duke Power Co., case in which the U.S. Supreme Court, in a unanimous decision on March 8, 1971, established the legal precedent for so-called “disparate-impact” lawsuits involving instances of racial discrimination. (“Disparate impact” describes a situation in which adverse effects of

www.britannica.com

"The ruling effectively forbids employers from using arbitrary tests—such as those for measuring IQ or literacy—to evaluate an employee or a potential employee,"

TLDR version
Employers were not allowed to give people IQ tests anymore after the ruling.


Instead a college diploma (including foreign ones by H1B) is now REQUIRED for most full-time jobs in the US.

That means lower educated people are excluded from many of the mid to high range jobs. Add non-educated manufacturing jobs sent oversea and you get a double whammy.

So people are talking about a wealth gap in the US. Now you know why.

 

[PAKISTANFOREVER]

There is a bigger picture that people are missing that has to do with a Supreme Court case that has doomed people who do not do well in school and made Universities money making machines.

Griggs v. Duke Power Co. | Civil Rights, Employment Discrimination & Supreme Court Case | Britannica

Griggs v. Duke Power Co., case in which the U.S. Supreme Court, in a unanimous decision on March 8, 1971, established the legal precedent for so-called “disparate-impact” lawsuits involving instances of racial discrimination. (“Disparate impact” describes a situation in which adverse effects of

www.britannica.com

"The ruling effectively forbids employers from using arbitrary tests—such as those for measuring IQ or literacy—to evaluate an employee or a potential employee,"

TLDR version
Employers were not allowed to give people IQ tests anymore after the ruling.


Instead a college diploma (including foreign ones by H1B) is now REQUIRED for most full-time jobs in the US.

That means lower educated people are excluded from many of the mid to high range jobs. Add non-educated manufacturing jobs sent oversea and who get a double whammy.

So people are talking about a wealth gap in the US. Now you know why.

Which ultimately means that blacks and Latinos ARE in fact living in far worst conditions in america than they were in the late 1980s.

 

[Hamartia Antidote]

Which ultimately means that blacks and Latinos ARE in fact living in far worst conditions in america than they were in the late 1980s.

With traditional manufacturing job moved overseas due to clean Air/water/land acts passed in the 1970's by Liberals and a low percentage with college degrees hit with a 1971 Supreme Court ruling... I'm sure it has been downhill since 1971.

The Liberal Left screwed them good.


This is why dopey Liberals should look at the big picture first...instead of whining.

 

[Nasr]

Bro, you may be right. I just don't know. But from what I have seen, read and heard, since about 1988/89 generally speaking the living standards of white americans keep getting better whereas those of blacks and Latinos keep getting worst.

My dear brother, it's a system designed for the rich to become inconceivably rich and poor (ever increasing) to be imprisoned in permanent poverty. A system where dictates, empowers the rich to have unimpeded control. My earlier post shows how 10% of the rich control a vast majority of the stock market, which by definition does not represent the true state of the economy and an an economy is made up of regular people, majority of whom are increasingly being shoved into poverty.

 

[PAKISTANFOREVER]

My dear brother, it's a system designed for the rich to become inconceivably rich and poor (ever increasing) to be imprisoned in permanent poverty. A system where dictates, empowers the rich to have unimpeded control. My earlier post shows how 10% of the rich control a vast majority of the stock market, which by definition does not represent the true state of the economy and an an economy is made up of regular people, majority of whom are increasingly being shoved into poverty.

Bro, are you currently living in america?

 

[YeBeWarned]

If there is any country whose demise has been predicted more often on PDF than Pakistan itself, has to be USA.

(Neither demise has come about yet, nor is likely to anytime soon.)

I am not even in USA yet , why demise at least let me visit Las Vegas and Miami beach once ..

 

[Nasr]

Bro, are you currently living in america?

No, I am and have been always in Pakistan.

 

[VCheng]

I am not even in USA yet , why demise at least let me visit Las Vegas and Miami beach once ..

No worries, visit whenever you like. Las Vegas and Miami Beach will be here for a long time to come.

 

[YeBeWarned]

No worries, visit whenever you like. Las Vegas and Miami Beach will be here for a long time to come.

sure, hopefully by the time i come there Covid 19 is under control .. how's the voting going ?

 

[crankthatskunk]

If the US economy collapses you can kiss Europe goodbye too, and that means the Middles East and China would go down too because Oil exports from the middle east would fall, no foreign tourists and investors anymore and China is an export oriented economy so if the US and EU go down, China would too.

There would be degree of going down. Yes, almost everyone go down, some slight, some off the cliff.
China export to wider range, even though USA its biggest importer. Yes it would be a hit for China. But China has enough markets in other parts of Asia, Middle East and in Africa. It would gain more market share in those places, if exports from N America and Europe take a hit due to their industries collapsing.

It wouldn't be a complete disaster for China. But it would be complete disaster for countries like BD and Vietnam and all other countries.

As for USA the collapse would of dollar. Which is going to evaporate its value overnight and plunge USA in to the ages they have not known before. Imagine, you not able to print any amount of money to buy what you want from across the globe. If you have to maintain a foreign currency reserves like other countries, then game is changed completely. That's where the crux of the matter is. Europe would survive, but not USA.

 

[Nasr]

Pandemic threatens to crush dollar & plunge US economy into double-dip recession, top economist warns

Published: 1 Dec 2020 | 08:38 GMT

While vaccine hopes are driving markets higher to book historically strong gains, the US economy is still in a vulnerable position, according to former Morgan Stanley chief economist Stephen Roach.

Roach believes the soaring number of coronavirus infections will cause further lockdowns. While new restrictions are likely to be less severe than they were in March and April, the consequences will definitely affect the whole US economy.

“That’ll lead to a temporary relapse in the economy, probably in the first quarter,” Roach told CNBC. He added that those relapses had occurred in eight of the past 11 business cycles, and warned, “I don’t think this one is an exception to that rule.”

The economist explained that those relapses reflect a lingering vulnerability to recession and the likelihood of aftershocks. He noted that the recent record rebound after the steepest-ever decline was just technical, with the key services sector still failing to get back on track.

The world’s largest economy may contract by one percent in the first three months of next year, according to Roach. Similar figures were earlier voiced by analysts at JPMorgan.

Roach also reiterated his gloomy prediction for the fate of the US dollar, which he expects to drop over 30 percent by the end of next year. Since the pandemic wreaked havoc in the global markets in March, the Dollar Currency Index, which measures the value of the greenback against a basket of currencies, tumbled by over 10 percent.

The collapse of the dollar may be driven by massive account deficit, the economist earlier said. When he first voiced the prediction of sharp dollar depreciation, some saw the idea as crazy, but Roach says it’s now “playing out even more dramatically than even I thought when I wrote about it.”

“This is just the early stages,” he concluded. “The pressure on the dollar is likely to be even more intense.”

https://www.rt.com/business/508290-us-dollar-collapse-roach/

 

[FairAndUnbiased]

With traditional manufacturing job moved overseas due to clean Air/water/land acts passed in the 1970's by Liberals and a low percentage with college degrees hit with a 1971 Supreme Court ruling... I'm sure it has been downhill since 1971.

The Liberal Left screwed them good.


This is why dopey Liberals should look at the big picture first...instead of whining.

how come China's and Germany's manufacturing is increasing while air/water pollution regulations are also increasing?

more regulation - done smartly, as the Clean Water Act was - also means more business opportunities for compliance monitoring and market innovation to meet regulatory demands more efficiently. how come there's all these excuses for how regulation is shutting down manufacturing when regulation isn't shutting down manufacturing in China and Germany?

face it, it's simply greed and incompetence. broken promise after broken promise.