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Thread: U.S. GDP Grows Just 1.3%

  1. #11
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Taylor View Post
    Oh, really? Rather than spending all this money on foreign aid, maybe we should just send Tony Robbins out to Ethiopia or Zimbabwe and really get things pumping.


    I'll make this incredibly simple for you.

    The banks are not lending money.
    The consumers are not spending their money.

    For the economy to grow banks need to lend money and consumers need to spend money.

    Why are they not doing so?

    Banks lack the confidence to lend money because of the current uncertainty.
    Consumers lack the confidence to spend money because of the current uncertainty.

    And as for your dumbass statement. Ethopia's GDP grew 10.9% between 2010 and 2011. Zimbabwe's GDP grew 9.3%. A large part of that was due to microlending.

    Why do I have to constantly pwn you conservatives? It gets boring after awhile because you never seem to learn. You seem to like to comment on economic issues with absolutely no knowledge and no research.
    Last edited by CriticalThought; 07-29-11 at 11:12 AM.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

  2. #12
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Objective Voice View Post
    donsutherland1 and CriticalThought are the only posters to this thread who make sense. If you pay attention to the economic indicators, you're really not throwing yourself into a panic over what's happened with the economic growth numbers. They are relatively close to what most economist expected. A -0.5% difference (1.8 - 1.3) isn't much to panic about. The economy's in the ballpark of analysist estimates.
    Not on this planet.

    TIM GHRISKEY, CHIEF INVESTMENT OFFICER OF SOLARIS ASSET MANAGEMENT IN BEDFORD HILLS, NEW YORK:
    “Everybody expected GDP to be weak for the second quarter, estimates had steadily come down, but this is a pretty shockingly low number. The revision to the first quarter is even more shocking.”

    SCOTT BROWN, CHIEF ECONOMIST, RAYMOND JAMES, ST. PETERSBURG, FL
    “The face value is certainly not great. The second quarter disappointed, but the first-quarter downward revision is more disturbing. It advances the pangs of concern.

    OMER ESINER, CHIEF MARKET ANALYST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON
    “Very weak number in GDP. The headline was well below forecast and surprisingly we saw very large downward revision to Q1’s data.

    STEVE BLITZ, DIRECTOR AND SENIOR ECONOMIST, ITG NEW YORK
    The economy is weak, and it’s going to stay weak, and it’s going to stay weak for a while because we are in the process of deleveraging and this is what deleveraging looks like. To get the economy moving forward the way it should requires a reform of the tax code that will lower rates and broaden the base and favor investment over consumption. Efforts to try and put Humpty Dumpty back together again to have the economy we had before is not going to work.


    Here's one that kind of agrees with you! Of course, he ignores the Q1 revision altogether:

    MATTHEW KEATOR, PARTNER IN THE KEATOR GROUP, A WEALTH MANAGEMENT FIRM IN LENOX, MASSACHUSETTS
    Disappointing number, but I’m not surprised considering the uncertainty in the market over the debt ceiling, regulations and so forth. Structurally, corporations are doing a good job, but on the macro side, with all the uncertainty, it isn’t surprising that we’re seeing this type of headwind. This is the straw with all the other uncertainty out there.”

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    Re: U.S. GDP Grows Just 1.3%

    It is more conservative silliness. ALL foreign aid together accounts for about 1% of our budget. The majority of that 1% goes to Israel, Egypt, and Pakistan for reasons of national defense -- not because we're just really nice guys.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Taylor View Post
    Not on this planet.

    TIM GHRISKEY, CHIEF INVESTMENT OFFICER OF SOLARIS ASSET MANAGEMENT IN BEDFORD HILLS, NEW YORK:
    “Everybody expected GDP to be weak for the second quarter, estimates had steadily come down, but this is a pretty shockingly low number. The revision to the first quarter is even more shocking.”

    SCOTT BROWN, CHIEF ECONOMIST, RAYMOND JAMES, ST. PETERSBURG, FL
    “The face value is certainly not great. The second quarter disappointed, but the first-quarter downward revision is more disturbing. It advances the pangs of concern.

    OMER ESINER, CHIEF MARKET ANALYST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON
    “Very weak number in GDP. The headline was well below forecast and surprisingly we saw very large downward revision to Q1’s data.

    STEVE BLITZ, DIRECTOR AND SENIOR ECONOMIST, ITG NEW YORK
    The economy is weak, and it’s going to stay weak, and it’s going to stay weak for a while because we are in the process of deleveraging and this is what deleveraging looks like. To get the economy moving forward the way it should requires a reform of the tax code that will lower rates and broaden the base and favor investment over consumption. Efforts to try and put Humpty Dumpty back together again to have the economy we had before is not going to work.


    Here's one that kind of agrees with you! Of course, he ignores the Q1 revision altogether:

    MATTHEW KEATOR, PARTNER IN THE KEATOR GROUP, A WEALTH MANAGEMENT FIRM IN LENOX, MASSACHUSETTS
    Disappointing number, but I’m not surprised considering the uncertainty in the market over the debt ceiling, regulations and so forth. Structurally, corporations are doing a good job, but on the macro side, with all the uncertainty, it isn’t surprising that we’re seeing this type of headwind. This is the straw with all the other uncertainty out there.”
    Yes, it is bad. So what's your point? What would conservatives have done that wouldn't have actually made things much worse -- let alone better?

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    It is more conservative silliness. ALL foreign aid together accounts for about 1% of our budget. The majority of that 1% goes to Israel, Egypt, and Pakistan for reasons of national defense -- not because we're just really nice guys.
    Don't bother. It goes in one ear and out the other. People who comment on issues which they never even bother to research for themselves and rely on being told what to think by partisan bloggers and journalists are not worth trying to educate.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by CriticalThought View Post
    Don't bother. It goes in one ear and out the other. People who comment on issues which they never even bother to research for themselves and rely on being told what to think by partisan bloggers and journalists are not worth trying to educate.
    You are preaching to the choir.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by CriticalThought View Post
    Don't bother. It goes in one ear and out the other. People who comment on issues which they never even bother to research for themselves and rely on being told what to think by partisan bloggers and journalists are not worth trying to educate.
    Before you start discussing an issue you need to research it and get the actual facts especially when it comes to spending and income. We have a consumer generated economy that is being hurt by 24 million unemployed or under employed Americans and that fact is ignored. The lower GDP has very little to do with Foreign Aid but everything to do with poor consumer spending. Learn the four components of GDP then pay attention to the actual line item expenses of the Federal Govt. You could learn a lot doing just doing this.

    2010 Federal Budget line item expenses in billions.

    Expenses

    Defense 696.1
    International Affairs 45.2
    Gen. Science, Space 30.9
    Energy 11.5
    Natural resources/env 41.6
    Agriculture 23.2
    Commerce 30.1
    Transportation 92.5
    Community Dev 24.5
    Education/Train/Social 125.1
    Health 369.0
    Medicare 451.6
    Income Security 624.0
    Social Security 706.7
    Veterans Benefits 108.4
    Justice 55.2
    General Govt. 18.1
    Net Interest 196.9


    BEA.gov will give you the GDP growth by component, suggest you learn what drives our GDP and stop buying media reports and misinformation

  8. #18
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Before you start discussing an issue you need to research it and get the actual facts especially when it comes to spending and income. We have a consumer generated economy that is being hurt by 24 million unemployed or under employed Americans and that fact is ignored. The lower GDP has very little to do with Foreign Aid but everything to do with poor consumer spending. Learn the four components of GDP then pay attention to the actual line item expenses of the Federal Govt. You could learn a lot doing just doing this.

    2010 Federal Budget line item expenses in billions.

    Expenses

    Defense 696.1
    International Affairs 45.2
    Gen. Science, Space 30.9
    Energy 11.5
    Natural resources/env 41.6
    Agriculture 23.2
    Commerce 30.1
    Transportation 92.5
    Community Dev 24.5
    Education/Train/Social 125.1
    Health 369.0
    Medicare 451.6
    Income Security 624.0
    Social Security 706.7
    Veterans Benefits 108.4
    Justice 55.2
    General Govt. 18.1
    Net Interest 196.9


    BEA.gov will give you the GDP growth by component, suggest you learn what drives our GDP and stop buying media reports and misinformation
    You are playing chicken and the egg.

    Nobody is going to get hired until consumers start to spend and banks start to lend. You can't create jobs without consumer confidence and lender confidence. It will not happen.

    Nothing you posted challenges that simple fact.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

  9. #19
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by CriticalThought View Post
    You are playing chicken and the egg.

    Nobody is going to get hired until consumers start to spend and banks start to lend. You can't create jobs without consumer confidence and lender confidence. It will not happen.

    Nothing you posted challenges that simple fact.
    What is Obama doing to promote consumer confidence and bank lending, more regulations on business, potential for higher taxes, Obamacare, demonizing individual wealth creation, promoting wealth redistribution? Why would any consumer spend with this Administrtion in charge?

  10. #20
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    What is Obama doing to promote consumer confidence and bank lending, more regulations on business, potential for higher taxes, Obamacare, demonizing individual wealth creation, promoting wealth redistribution? Why would any consumer spend with this Administrtion in charge?
    Obama is a poor ass president. Your point? I didn't vote for him. I'm a registered Independent, not a Democrat.

    However, the Tea Party has done far more damage in the last few months to consumer and lender confidence than Obama has probably done over his entire presidency, and if we default, the resulting recession will be entirely the fault of the GOP.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

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