Posted 1 year ago on Feb. 24, 2012, 4:49 p.m. EST by economicallydiscardedcitizen
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'Crappy Birthday to me! Crappy Birthday to me! The economy is in the Sh&er! 'Crappy Birthday to me! Yes, today is the anniversary of my birthday which, historically has proved to be a disappointing non-event for numerous reasons, ie: it's a few months after Christmas and of course the 'ides of March' taxes are on everyone's mind and whatever is left for gifts has already been spent on Valentine's Day so who the hell wants to remember someone's birthday in February? Here's a lovely example of the anniversary of my birthday letting me know to, as George Carlin the late great comedian would say to those who would tell him to 'Have a nice day!' he'd reply: 'Fu&k you, I'm going to have a Crappy Day!' So, in addition, gas is up to $5 per gallon adding credence to terms such as 'Fu%*k Me!' By the way I like to look at things through a humorous lense so don't get too bummed about today's (Not!) rosy news: http://money.cnn.com/2012/02/24/news/economy/double_dip_recession/index.htm?iid=HP_LN 'Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, said on Friday that his research firm is sticking with the forecast it made in September: A new recession is inevitable, despite improvement in high-profile economic indicators, such as job creation and unemployment, and a stock market rally.' 'ECRI is one of the more widely respected firms on economic recessions, as it has never been wrong when forecasting that a recession would start, or failed to predict a recession well before it was widely accepted.
Achuthan predicts the recession will happen even without a new shock to the economy, such as a spike in oil and gas prices or a Greek sovereign debt default sparking a financial meltdown. If those things occur, he says they will simply make an inevitable recession more painful.
In fact, Achuthan said data gathered since his September forecast only confirms his view that economic growth has slowed to such a degree that a downturn is now unavoidable, likely by late summer.'