Federal Reserve Declares Recession is Dead: Twelve Indicators that Economy is in Trouble

Economic Recovery Revisited – Economists & Fed Declare Recession is Dead. Real folks don’t believe it. Twelve top indicators that the economy is bad from Rights Radio resident forensic economist, Dr. David Goldenberg.

YOU KNOW THE ECONOMY IS BAD WHEN…(in reverse order)

12. CEO’s are now playing miniature golf.

11. I received a pre-declined credit card in the mail.

10. I went to buy a toaster oven and they gave me a bank.

9. Hotwheels and Matchbox car companies are now trading higher than GM in the stock market.

8. Obama met with small businesses — GE, Pfizer, Chrysler, Citigroup and GM — to discuss the Stimulus Package.

7. McDonald’s is selling the 1/4 ouncer.

6. People in Beverly Hills fired their nannies and are learning their children’s names.

5. The most highly-paid job is now jury duty.

4. People in Africa are donating money to Americans. Mothers in Ethiopia are telling their kids, “finish your plate; do you know how many kids are starving in America?”

3. Motel Six won’t leave the lights on.

2. The Mafia is laying off judges.

And my most favorite indicator of all.

1. If the bank returns your check marked as “insufficient funds,” you have to call them and ask if they meant you or them.

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More from Rights Radio on Economic Recovery:

Economic Revival Strategies: How & When

StarrPublications.com/RightsRadio.com features leading economist Dr. David I. Goldenberg on “The Coming Economic Revival: How & When.” Listen to my interview with Dr. Goldenberg LIVE on November 19, 2008 at 5:00 PM EST. Dr. Goldenberg authored Creating Condo & Home Owner Documents, one of the three books in our Homeowners Association Rights …

Economic Revival: Economic Revival Wisdom Proven Wrong – Forcasting our Future

Quotes that remind us what economic revival “crash and prosperity” experts didn’t know then and cannot know now re economic recovery. Courtesy of Rights Radio forensic economist and author, Dr. David Goldenberg. “We will not have any more crashes in our time.” – John Maynard Keynes in 1927  …

Economic Stimulus Support for Other Nations – China & India

Economic Stimulus Plan Q & A – Courtesy of Dr. Dave! “This year, taxpayers will receive an Economic Stimulus Payment.” This is a very exciting new program that we will explain using the Q and A format: Q. What is an Economic Stimulus Payment? A. It is money that the federal government will send …

To your economic recovery rights!

Dr. Joyce Starr

Economic Revival: Economic Revival Wisdom Proven Wrong – Forcasting our Future

Quotes that remind us what economic revival “crash and prosperity” experts didn’t know then and cannot know now re economic recovery. Courtesy of Rights Radio forensic economist and author, Dr. David Goldenberg.

“We will not have any more crashes in our time.” – John Maynard Keynes in 1927

“I cannot help but raise a dissenting voice to statements that we are living in a fool’s paradise, and that prosperity in this country must necessarily diminish and recede in the near future.” – E. H. H. Simmons, President, New York Stock Exchange, January 12, 1928

“There will be no interruption of our permanent prosperity.” – Myron E. Forbes, President, Pierce Arrow Motor Car Co., January 12, 1928

“No Congress of the United States ever assembled, on surveying the state of the Union, has met with a more pleasing prospect than that which appears at the present time. In the domestic field there is tranquility and contentment…and the highest record of years of prosperity. In the foreign field there is peace, the goodwill which comes from mutual understanding.” – Calvin Coolidge December 4, 1928

“There may be a recession in stock prices, but not anything in the nature of a crash.” – Irving Fisher, leading U.S. economist , New York Times, Sept. 5, 1929

“Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.” – Irving Fisher, Ph.D. in economics, Oct. 17, 1929

“This crash is not going to have much effect on business.” – Arthur Reynolds, Chairman of Continental Illinois Bank of Chicago, October 24, 1929

“There will be no repetition of the break of yesterday… I have no fear of another comparable decline.”
- Arthur W. Loasby (President of the Equitable Trust Company), quoted in NYT, Friday, October 25, 1929

“We feel that fundamentally Wall Street is sound, and that for people who can afford to pay for them outright, good stocks are cheap at these prices.” – Goodbody and Company market-letter quoted in The New York Times, Friday, October 25, 1929

“This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan… that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years.”
- R. W. McNeel, market analyst, as quoted in the New York Herald Tribune, October 30, 1929

“Buying of sound, seasoned issues now will not be regretted” – E. A. Pearce market letter quoted in the New York Herald Tribune, October 30, 1929

“Some pretty intelligent people are now buying stocks…. Unless we are to have a panic — which no one seriously believes, stocks have hit bottom.” – R. W. McNeal, financial analyst in October 1929

“The decline is in paper values, not in tangible goods and services…America is now in the eighth year of prosperity as commercially defined. The former great periods of prosperity in America averaged eleven years. On this basis we now have three more years to go before the tailspin.” – Stuart Chase (American economist and author), NY Herald Tribune, November 1, 1929

“Hysteria has now disappeared from Wall Street.” – The Times of London, November 2, 1929

“The Wall Street crash doesn’t mean that there will be any general or serious business depression… For six years American business has been diverting a substantial part of its attention, its energies and its resources on the speculative game…. Now that irrelevant, alien and hazardous adventure is over. Business has come home again, back to its job, providentially unscathed, sound in wind and limb, financially stronger than ever before.”
- Business Week, November 2, 1929

“…despite its severity, we believe that the slump in stock prices will prove an intermediate movement and not the precursor of a business depression such as would entail prolonged further liquidation. …” – Harvard Economic Society (HES), November 2, 1929

“… a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall.” – HES, November 10, 1929

“The end of the decline of the Stock Market will probably not be long, only a few more days at most.”
- Irving Fisher, Professor of Economics at Yale University, November 14, 1929

“In most of the cities and towns of this country, this Wall Street panic will have no effect.” – Paul Block (President of the Block newspaper chain), editorial, November 15, 1929

“Financial storm definitely passed.” – Bernard Baruch, cablegram to Winston Churchill, November 15, 1929

“I see nothing in the present situation that is either menacing or warrants pessimism… I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress.” – Andrew W. Mellon, U.S. Secretary of the Treasury December 31, 1929

“I am convinced that through these measures we have reestablished confidence.” – Herbert Hoover, December 1929

“[1930 will be] a splendid employment year.” – U.S. Dept. of Labor, New Year’s Forecast, December 1929

“For the immediate future, at least, the outlook (stocks) is bright.” – Irving Fisher, Ph.D. in Economics, in early 1930

“…there are indications that the severest phase of the recession is over…” – Harvard Economic Society (HES) Jan 18, 1930

“There is nothing in the situation to be disturbed about.” – Secretary of the Treasury Andrew Mellon, Feb 1930

“The spring of 1930 marks the end of a period of grave concern…American business is steadily coming back to a normal level of prosperity.” – Julius Barnes, head of Hoover’s National Business Survey Conference, Mar 16, 1930

“… the outlook continues favorable…” – HES Mar 29, 1930

“… the outlook is favorable…” – HES Apr 19, 1930

“While the crash only took place six months ago, I am convinced we have now passed through the worst — and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us.” – Herbert Hoover, President of the United States, May 1, 1930

“…by May or June the spring recovery forecast in our letters of last December and November should clearly be apparent…” – HES May 17, 1930

“Gentleman, you have come sixty days too late. The depression is over.” – Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930

“… irregular and conflicting movements of business should soon give way to a sustained recovery…”
- HES June 28, 1930

“… the present depression has about spent its force…” – HES, Aug 30, 1930

“We are now near the end of the declining phase of the depression.” – HES Nov 15, 1930

“Stabilization at [present] levels is clearly possible.” – HES Oct 31, 1931

“All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S.” – President F.D. Roosevelt, 1933

Economic Revival Strategies: How & When

StarrPublications.com/RightsRadio.com features leading economist Dr. David I. Goldenberg on “The Coming Economic Revival: How & When.” Listen to my interview with Dr. Goldenberg LIVE on November 19, 2008 at 5:00 PM EST.

Dr. Goldenberg authored Creating Condo & Home Owner Documents, one of the three books in our Homeowners Association Rights Defense Kit, along with our special report, “How to Recall Your Codo or HOA Board in 10 Easy Steps.”

He’s also co-chairman of our Rights Radio Think Tank Brain”Trust”.

Among his many works, he wrote The Art of War 3: The Canons of Commerce,” an insight-filled interpretation of Sun Tzu’s Art of War from a business perspective. The Art of War 3 goes straight for the jugular and leaves very little room for a wandering mind,” declared a key reviewer.

Now Dave is turning his keen mind to Strategies for Economic Revival. His view:

“This has been the largest destruction of human wealth in history, but we hear little about that fact. On the other hand, there will be an upturn – possibly a huge one. This is not the end of the world, and we haven’t fallen off the edge of the universe. But it could be quite a while… If the government of the United States acts brilliantly and persistently in leading the world, the US economy can sustain a very fast growth rate – recouping all the money that’s been wasted by 2025. But if it does not do what is necessary, the United States will be in a near depression for seven to ten years and then slowly recover.”

WHEN: Wednesday, November 19, 2008

WHERE: LIVE on THIS PAGE! The Live play button is visible during the show. If you missed the show, you can hear the streaming replay immediately below.

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Dr. Goldenberg presented his special report on “Strategies for Economic Revival” to several key economic organizations at the end of November, 2008. A copy of his presentation will be available on STARRPublications.com. Please join our mailing list on the right side of this page (or below) for publication announcements.

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Amazon Review for Dr. Goldenberg’s Cannons of Commerce
By Giri Giridhar, Co-Chairman, qMGN, Inc. (Ridgewood, NJ, USA) -

Business like war requires strategy, intelligence, etc., as exemplified brilliantly by David Goldenberg in The Art of War 3: The Cannons of Commerce. This book has a foreword, 13 chapters, an afterword, three appendices, a detailed bibliography and an index. Besides its timeliness, this well-written book offers great depth and experience-based knowledge. The book brings well thought out and insightful attention to bear on many important topics; among them are leadership, weaknesses and strengths, and contingencies. Decision-makers at all levels of business and government would benefit greatly by reading this book carefully, rereading it regularly and seeing that their subordinates do so as well.