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Stiglitz Says U.S. Recession ‘Nowhere Near’ End After GDP Jump
Bob Willis
Bloomberg
Sunday, Nov 1st, 2009
Nobel Prize-winning economist Joseph E. Stiglitz said the U.S. recession is “nowhere near” an end and the economy’s third-quarter growth rate of 3.5 percent, the first expansion in more than a year, won’t carry into 2010.
While this week’s figures on gross domestic product are “very good,” the numbers would be “miserable” without stimulus measures enacted by the Obama administration, Stiglitz said today at a forum in Shanghai. He urged the U.S. and other countries not to pull back on efforts to shore up economies.
“When we look at if workers can get jobs, if they can work full time, if businesses are able to sell goods they produce, in those terms, we are nowhere near the end of recession” in the U.S., said Stiglitz, 66, the former chief economist at the World Bank. The U.S. job market is still “in very bad shape.”
Federal assistance to the housing and auto industries helped propel growth in the July-September quarter. President Barack Obama, in his weekly radio address to the nation, today called the Oct. 29 report on GDP a “good sign” and said an expanding economy is the first step to job creation.
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24 Responses to “Stiglitz Says U.S. Recession ‘Nowhere Near’ End After GDP Jump”
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November 1st, 2009 at 10:32 am
This has been a textbook “bounce” after a crash. Now we settle in for the long slog. Stiglitz isn’t having any of the free kool-aid going around.
My Proofreader Died Of Swine Flu Reply:
November 1st, 2009 at 12:48 pm
Yup were still following the great depression almost day for day.
November 1st, 2009 at 10:45 am
You don’t have to be a Nobel winning economist to look at the job numbers and say, “This thing ain’t over”
November 1st, 2009 at 10:55 am
I have an urgent message for you, more important than any message you can hear. God is Holy and cannot accept sin(honor thy mother and father…, thou shall not kill, thou shall not commit adultery, thou shall not steal, thou shall not bear false witness against thy neighbor, thou shall not covet..etc…Exodus 20:12-17). Here are some verses that show examples of sin:
“Ye have heard that it was said of them of old time, Thou shalt not kill; and whosoever shall kill shall be in danger of the judgment: But I say unto you, That whosoever is angry with his brother without a cause shall be in danger of the judgment: and whosoever shall say to his brother, Raca, shall be in danger of the council: but whosoever shall say, Thou fool, shall be in danger of hell fire.” Matthew 5:21-22
“Ye have heard that it was said by them of old time, Thou shalt not commit adultery: But I say unto you, That whosoever looketh on a woman to lust after her hath committed adultery with her already in his heart.” Matthew 5:27-28
“It hath been said, Whosoever shall put away his wife, let him give her a writing of divorcement: But I say unto you, That whosoever shall put away his wife, saving for the cause of fornication, causeth her to commit adultery: and whosoever shall marry her that is divorced committeth adultery.” Matthew 5:31-32
“For ALL have sinned, and come short of the glory of God;” Romans 3:23. Your good deeds cannot cover up your bad deeds.
“But we are all as an unclean thing, and all our righteousnesses are as filthy rags; and we all do fade as a leaf; and our iniquities, like the wind, have taken us away.” Isaiah 64:6
“As it is written, There is none righteous, no, not one: There is none that understandeth, there is none that seeketh after God. They are all gone out of the way, they are together become unprofitable; there is none that doeth good, no, not one.” Romans 3:10-12
You could be perfect in all the law and stumble at one point and it is as if you broke all of them:
“For whosoever shall keep the whole law, and yet offend in one point, he is guilty of all.” James 2:10
“Therefore to him that knoweth to do good, and doeth it not, to him it is sin.” James 4:17
God wrote the law on each man’s heart so they are without excuse on judgment day when we will ALL stand before Christ(”Which shew the work of the law written in their hearts, their conscience also bearing witness, and their thoughts the mean while accusing or else excusing one another” Romans 2:15). The penalty of sin is death and eternal punishment in the LAKE OF FIRE. I am warning you about hell because I love you! You are dead in your sins and headed for hell which is described in the Word as a FIRE THAT QUENCHES NOT(”…the fire is not quenched” Mark 9:44). It is a horrible and terrible place of everlasting torment that people will go because of their sins.
“And it came to pass, that the beggar died, and was carried by the angels into Abraham’s bosom: the rich man also died, and was buried; And in hell he lift up his eyes, being in torments, and seeth Abraham afar off, and Lazarus in his bosom. And he cried and said, Father Abraham, have mercy on me, and send Lazarus, that he may dip the tip of his finger in water, and cool my tongue; for I am tormented in this flame.” Luke 16:22-24
“In flaming fire taking vengeance on them that know not God, and that obey not the gospel of our Lord Jesus Christ: Who shall be punished with everlasting destruction from the presence of the Lord, and from the glory of his power;” 2 Thessalonians 1:8-9
But God has provided a way for each to escape the lake of fire. He sent his Son Jesus(God manifest in the flesh-1 Timothy 3:16) who was conceived by a virgin by the Holy Spirit of God,lived a sinless life, and suffered a horrible death/shed blood and rose again 3 days later to take the penalty of YOUR sins so you dont have to pay for them in hell for eternity! He loved you so much which is why he did it! He is the only one to have fufilled the law perfectly(sinless) and paid the price of the entire world’s sins so that man could be saved on the merits of His perfection(see Romans 5:19). All you must do to be saved is BELIEVE in Him(trust in Him to save you as a sinner). You must admit your lost sinful condition to Him/that you’re worthy of hell, and ask Him to save you by placing complete trust in Jesus ALONE for salvation(an example in the Word of someone doing this- “And the publican, standing afar off, would not lift up so much as his eyes unto heaven, but smote upon his breast, saying, God be merciful to me a sinner.” Luke 18:13).It is not even partly by yourselves that you can be saved, but only by the merits of Jesus Christ!
“For God so loved the world, He sent his only Begotten Son, that whosoever believeth in Him shall not perish, but have everlasting life” John 3:16.
“And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world” 1 John 2:2
“…Unto him that loved us, and washed us from our sins in his own blood,” Revelation 1:5
“For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures; And that he was buried, and that he rose again the third day according to the scriptures:” 1 Corinthians 15:3-4
“Then he called for a light, and sprang in, and came trembling, and fell down before Paul and Silas, And brought them out, and said, Sirs, what must I do to be saved? And they said, Believe on the Lord Jesus Christ, and thou shalt be saved, and thy house.” Acts 16:29-31
“But to him that worketh not, but believeth on him that justifieth the ungodly, his faith is counted for righteousness.” Romans 4:5
“That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved.For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” Romans 10:9-10
No works or anything you do can save you! May God open your eyes, that one day I may see you in heaven. Read the Word of God(the 1611 King James version- NOT the modern versions, they are corrupt) before rejecting it! Death is fleeting. You may NOT have tomorrow! For death comes when we least expect it! Make sure you are saved TODAY! The Bible condemns the rich, the wealthy, and those who take advantage of the poor, so it CANNOT have been made up by the elite. Because the Word clearly CONDEMNS people such as those! It declares all mankind as sinners(myself included).
I am a Christian, and love you enough to warn you of the dangers of hell. Beware, the Roman catholic church is NOT Christian! The church CANNOT save you but only Christ! Just because someone says they are a Christian does not necessarily mean they are one(remember the crusades in history? Many were murdered in the name of Christianity. These were no Christians at all by their testimony). Please email me to inquire more. I would be glad to help you out in your search for truth!(my email- livingwaters705@hotmail.com)…To those who slander/mock me, I pray for you and love you anyways and hope you will trust Christ before its too late!
I call upon my fellow Christians on here to return hate posts with love and blessings. The Lord commands us to love them:
“Ye have heard that it hath been said, Thou shalt love thy neighbour, and hate thine enemy. But I say unto you, Love your enemies, bless them that curse you, do good to them that hate you, and pray for them which despitefully use you, and persecute you; That ye may be the children of your Father which is in heaven: for he maketh his sun to rise on the evil and on the good, and sendeth rain on the just and on the unjust.” Matthew 5:43-45
Salvation is not found in good works, rituals, church, the pope, water baptism, good lives, etc….But ONLY found by faith in Jesus Christ the Savior!
If you need prayer or anything, just let me know! I would be glad to help! I love and care for you, and I have prayed that every person that reads this who do not know the Lord, would one day turn to Christ in faith for salvation for their sins. I beg you to turn to Christ in faith before it is too late! You get ONE chance while living and then it is too late forever:
“And as it is appointed unto men once to die, but after this the judgment:” Hebrews 9:27
“And ye shall know the truth, and the truth shall make you free.” John 8:32
“Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.” John 14:6
“…there is no God else beside me; a just God and a Saviour; there is none beside me. Look unto me, and be ye saved, all the ends of the earth: for I am God, and there is none else.” Isaiah 45:21-22
“And the Spirit and the bride say, Come. And let him that heareth say, Come. And let him that is athirst come. And whosoever will, let him take the water of life freely.” Revelation 22:17
d Reply:
November 1st, 2009 at 3:19 pm
give it a rest mate, we have all seen the bible stuff before and we don’t need to help you get to heaven by giving you someone to preach to earn some points with the Mr Big.
Jim Shores Reply:
November 1st, 2009 at 6:48 pm
d=DUMMY
bill Reply:
November 2nd, 2009 at 7:41 am
i bet a million bucks you need to take some advice from yourself
November 1st, 2009 at 11:22 am
this post falls well within the “No Shit” category.
and truther – whenever we see a passage like this one, we immediately scroll to the end. How about some of YOUR own thoughts on the matter? Any jagoff can quote the bible, give us a break!
Jim Shores Reply:
November 1st, 2009 at 6:50 pm
Uncle Sap, Just scroll and stroll. Just because you are a non Christian, do not attempt to censor the truth. Go play with your fellow demons. Have a nice eternity.
November 1st, 2009 at 2:01 pm
There is no more that can be done in the states, its like the titanic hit the iceburg and is sinking fast and instead of getting in the lifeboats yall are bitchin at each other, the ship is not coming back up people. margarita island is full of opportunity cheapest cost of living in the world, 4 cent a gallon gas free health care no taxes, no hurricanes, all food is organic by law. for more info check out http://www.escapethestates.com I have plenty of references from people I have moved down here, jump on the underground railraod and find out what it is like to live in a country that has alot more freedom then the united states. Put your money in a different currency and get out with it and dont look back. soon the dollar will be worth nothing, then you are stuck like a turd in the toilet. thanks for listening, if you need help contact me, My wife and I have plenty of knowledge about living here on margarita island we moved here 3 years ago with 3 small children and 3 dogs. We had to get our kids away from the toxic foods and environment. We can help you escape the states no matter what situation you are in, venezuela does not abide with extradition laws to the USA.
November 1st, 2009 at 2:02 pm
1st
November 1st, 2009 at 3:39 pm
The American economy is a “DEAD MAN WALKING”(ant day now)!!!…………………………………………………………………………………
November 1st, 2009 at 3:55 pm
All this fear-mongering by Alex Jones and the other alternative news sires, are not helping the matter. Why in the world would you want to convince Americans that” the Titanic is sinking”? The only way this flawed economic system gets better is if people spend money. I swear, some of you morons act like it would be cool if the system completely crashes.
bill Reply:
November 2nd, 2009 at 7:43 am
just dont tell them the boat is sinking and everone keeps partying till the drown screw telling them there are lifeboats and to get on them let the fuckers die cause we got a good lie
November 1st, 2009 at 5:53 pm
If our government can spin the figures on “cost of living increase” each year, telling us it’s only 1 or 2 percent when it’s actually 12 and 15 percent, because they don’t include the cost of living increase of gasoline or food you buy at the supermarket……then why the heck should I believe the Gross Domestic Product numbers. Time and again we are lied to by our government and the GDP figure can’t be trusted.
November 1st, 2009 at 11:40 pm
They have to trick everyone into believing all is well so that they (powers that be) can get the sheeple to give up their last dollars and last little bit of available credit by still spending, in order to finally financially and socially enslave all of us.
November 1st, 2009 at 11:48 pm
The master manipulators at the fed and headquarters of NWO in London are carefully manipulating a slow crash as they did not predict the level of backlash they are experiencing after there determined efforts of 40 years of dumbing down of people and feeding us up in the NWO burger joints or there NWO supermarket chains with the GM crop shit, not to mention trying to poison us with there death vacs. It is probably time for humans to fight back and start to boycott there businesses. IE. if you think a business is NWO take your business to a small local business or if you have cash in bank turn it into gold even if your credit card is upto your limit. There will be new banks and businesses in the future that are not controlled by the money lending greeders!
November 2nd, 2009 at 1:43 am
Tha ameriKan sheeple both ignorant & arrogant will soon experience the GREATEST DEPRESSION…COMING TO EVERY CITY NEAR YOU..baaaaaa baaaaaaaaaaaaaaaaaaaaaa
November 2nd, 2009 at 2:19 am
Over many years we have all been lied to by our Governments, but not just our Governments but many religous leaders. Many things we have been taught are not even in Scripture and millions have swallowed so many lies by these false prophets. If you are a truth seeker please visit the following web site and take the time to read some of the articles, you will be shocked.
http://www.2besaved.com
Blessings as you seek truth
Ben
November 2nd, 2009 at 4:45 am
BLESSINGS to you also, AS YOU LOCK AND LOAD…
November 2nd, 2009 at 7:23 am
Why bother crediting him with a Nobel prize to his title? It doesn’t mean anything these days.
bill Reply:
November 2nd, 2009 at 7:49 am
nobel prize means as much as the participant ribbons my kids get in school for comming in last place
dig Reply:
November 2nd, 2009 at 11:30 am
Stiglitz predicted the economic crash several years before it happened…it was posted here on PP. His prediction for the time was right on. I wouldn’t discount what this guy says.
November 2nd, 2009 at 11:45 am
Why do you always insist on posting this retard’s opinions? Oh… big deal about predicting the crash. That’s like predicting that it will rain in the next month.