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Economy shrinks for first time in 3 1/2 years[W: 395]

Re: Economy shrinks for first time in 3 1/2 years

How old were you during the Reagan recession to establish your credibility. You have no idea, do you understand the misery index?

Headwinds have been created by this Administration.
My age isn't pertinent. The fiscal and monetary cause and effects of the Reagan recession were dissimilar to those of the most recent recession. Simple as that.

I was actually referring to the sharp decrease in exports, a trend that gained even more steam in the Q4 figures.
 
Re: Economy shrinks for first time in 3 1/2 years

How old were you during the Reagan recession to establish your credibility. You have no idea, do you understand the misery index? Headwinds have been created by this Administration.

How is this a valid response in regards to his comment? There was never even an instance of net-wealth lost during the early 1980's recession. However, from 2007-2009, the U.S. witnessed a wealth decline in the tune of 100% of GDP. There really is no comparison. The only other economic down turn which had a magnitude equal than or greater to the current occurred in the 1930's.
 
Re: Economy shrinks for first time in 3 1/2 years

My age isn't pertinent. The fiscal and monetary cause and effects of the Reagan recession were dissimilar to those of the most recent recession. Simple as that.

I was actually referring to the sharp decrease in exports, a trend that gained even more steam in the Q4 figures.

No, sorry, but your age is extremely relevant. I lived and worked during both and unless you did you have no idea what the 81-82 recession was like you truly have no idea what you are talking about. Too many people are book smart and street stupid, not say that is you. Try paying 17+% interest on a home mortgage vs. record low now?
 
Re: Economy shrinks for first time in 3 1/2 years

How is this a valid response in regards to his comment? There was never even an instance of net-wealth lost during the early 1980's recession. However, from 2007-2009, the U.S. witnessed a wealth decline in the tune of 100% of GDP. There really is no comparison. The only other economic down turn which had a magnitude equal than or greater to the current occurred in the 1930's.

The only decline in wealth was for those who sold. Apparently you have no idea either what the 81-82 recession was like at all.
 
Re: Economy shrinks for first time in 3 1/2 years

The only decline in wealth was for those who sold. Apparently you have no idea either what the 81-82 recession was like at all.

There was a very real decline in wealth that has yet to be recovered.

fredgraph.png


Yet it did not occur at all during what you call "the worst recession".

fredgraph.png
 
Re: Economy shrinks for first time in 3 1/2 years

No, sorry, but your age is extremely relevant.

I lived and worked during both and unless you did you have no idea what the 81-82 recession was like you truly have no idea what you are talking about.
Nope! The relevant figures remain the same. Your personal recollections aren't of any use here.

Are virtually all those interested in economics thereby unable to render any verdict as to the severity of the Great Depresssion?
 
Re: Economy shrinks for first time in 3 1/2 years

There was a very real decline in wealth that has yet to be recovered.

fredgraph.png


Yet it did not occur at all during what you call "the worst recession".

fredgraph.png

People recovered from the 81-82 recession a lot faster than this one and 18 million jobs were created. Too bad you rely on books rather than reality.
 
Re: Economy shrinks for first time in 3 1/2 years

People recovered from the 81-82 recession a lot faster than this one and 18 million jobs were created. Too bad you rely on books rather than reality.

Of course they did, they never had to wait years for their wealth to recuperate. This is the problem with financially induced economic downturns; they are the absolute worst (see the Great Depression for a reference).
 
Re: Economy shrinks for first time in 3 1/2 years

"But according to you... people are unemployed because they're lazy and it's their own fault...

Actually it's the administration's fiscal policies. And the fools who re-elected the fool behind those policies. We need more taxes, and more redistribution. Yep, that'll do it.
 
Re: Economy shrinks for first time in 3 1/2 years

Of course they did, they never had to wait years for their wealth to recuperate. This is the problem with financially induced economic downturns; they are the absolute worst (see the Great Depression for a reference).

No, people back then understood personal responsibility, didn't get two years of unemployment insurance. So where were you during that recession?
 
Re: Economy shrinks for first time in 3 1/2 years

No, people back then understood personal responsibility, didn't get two years of unemployment insurance. So where were you during that recession?

You are not even addressing my statements. People back then did not have to wait until $14 trillion of wealth came back into existence. There was not a decline in wealth EVEN though short term interest rates were in double digits. We still have not regained our previous wealth after 5 years and 4 years of short term interest rates @ zero.

Of course i do not expect you to respond with anything valid.
 
Re: Economy shrinks for first time in 3 1/2 years

You are not even addressing my statements. People back then did not have to wait until $14 trillion of wealth came back into existence. There was not a decline in wealth EVEN though short term interest rates were in double digits. We still have not regained our previous wealth after 5 years and 4 years of short term interest rates @ zero.

Of course i do not expect you to respond with anything valid.

How did this recession hurt you or your family. I can tell you how the 81-82 recession hurt everyone. Try paying over 17% interest rates and having high inflation along with 10.8% unemployment?
 
Re: Economy shrinks for first time in 3 1/2 years

How did this recession hurt you or your family. I can tell you how the 81-82 recession hurt everyone. Try paying over 17% interest rates and having high inflation along with 10.8% unemployment?

This is not even a response.

I stated:

There was never even an instance of net-wealth lost during the early 1980's recession. However, from 2007-2009, the U.S. witnessed a wealth decline in the tune of 100% of GDP.

Instead of even addressing my statements in ANY of your replies, you instead chose to attack straw men and make red herrings, which is a fallacious debate tactic.

You cannot say (with any accuracy) that the 1980's recession was anywhere as bad as the current economic reality when the wealth of the people (like in almost all economic downturns) does not decrease.
 
Re: Economy shrinks for first time in 3 1/2 years

"But according to you... people are unemployed because they're lazy and it's their own fault...

Actually it's the administration's fiscal policies. And the fools who re-elected the fool behind those policies. We need more taxes, and more redistribution. Yep, that'll do it.

It's destroy the private sector and grow the public sector...

At this point it us useless to argue.

I see what's happening, you see it - no point to document it on a message board where idiots can just attempt to refute it with crackpot lack of logic, diagrams that come from humor sites and bunt contempt for law and reason.

90% of this board belongs in prison on charges of treason.
 
Re: Economy shrinks for first time in 3 1/2 years

I see what's happening, you see it - no point to document it on a message board where idiots can just attempt to refute it with crackpot lack of logic, diagrams that come from humor sites and bunt contempt for law and reason.

Given your post history, i find this response..... :lamo
 
Re: Economy shrinks for first time in 3 1/2 years

Given your post history, i find this response..... :lamo

And given your avatar you're you're not even old enough to buy a beer, so what makes you think you can judge me - now or 30 years down the road?

What the **** you thought?
 
Re: Economy shrinks for first time in 3 1/2 years

And given your avatar you're you're not even old enough to buy a beer, so what makes you think you can judge me, now or 30 years down the road?

What the **** you thought?

My avatar is of no consequence to the discussion or my ability to make relevant statements in regards to political economy. The forum does know that you have ZERO understanding of politics, finance, economics, etc..... Which is why i get such a kick out of the chest-puffing you tend to display.
 
Re: Economy shrinks for first time in 3 1/2 years

What?

This isn't a dictated economy (although Obama and the idiots he employs are trying) the government doesn't control the value of the dollar the consumer does. The private sector is our economy - all Obama is doing is neglecting that fact. Obama's neglect for the private sector created a recession.

Obama's vision of the US is nothing more than 100% government dependence. We all work for the government or work for an entity that pays 99% of their income to the government - that's what he wants.

Why the hell should the private sector partake in such nonsense?

What incentive do I have to start a business? what, so I can take home about as much or even less than an employee at Burger King while working 70 hours a week?

I'll bet some small business owners take home less than their employees do, and are in debt up to their eyeballs. Meanwhile people like you ignorant to that fact think they should "pay their fair share" just because on paper they're worth X amount.

One of these days I pray you get robbed by someone, maybe then "redistribution" will mean something to you.

What in the hell, more appropriately, what the **** are you on about? Where in the hell did I list my wishes for any of those things in the post you quoted?

For you wishing ill on me, I will do the same. I hope one day you have the **** kicked out of you for making malicious assumptions about them and pegging them to nonsense bogus stereotypes.
 
Re: Economy shrinks for first time in 3 1/2 years

Define "minor".


Anyone worth their salt saw this coming. Austerity=recession. Maybe somebody in politics might listen this time...nah, probably. not.

I consistently am dismissed by many when I bring this point up. Many fail to realise this fact. But it is a necessary recession, as the deficit you guys have cannot be maintained for very much longer.
 
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Re: Economy shrinks for first time in 3 1/2 years

What in the hell, more appropriately, what the **** are you on about? Where in the hell did I list my wishes for any of those things in the post you quoted?

For you wishing ill on me, I will do the same. I hope one day you have the **** kicked out of you for making malicious assumptions about them and pegging them to nonsense bogus stereotypes.

I'm talking about your ass and your tyrannical implications..

I'm glad you want my ass whooped. A dozen people would need their asses kicked before that happens. Getting to me would be like attempting to beat a NES video game.
 
Re: Economy shrinks for first time in 3 1/2 years

necessary recession
The very idea repulses me. This has to be bull****. Something in economic and monetary structure creates recessions, and whatever it is, it needs to change.
 
Re: Economy shrinks for first time in 3 1/2 years

My avatar is of no consequence to the discussion or my ability to make relevant statements in regards to political economy. The forum does know that you have ZERO understanding of politics, finance, economics, etc..... Which is why i get such a kick out of the chest-puffing you tend to display.

Oh it most certainly is...

Look, I didn't read 100+ books and spend 10 years educating myself just so some kid can waltz up in here with a wild imagination and pretend to know what the **** he/she is talking about. That is an insult to me and every goddamn thing I learned. Now shut the **** up and post something that is worthwhile to read that actually can be debated or go the **** away, because I have no desire to throw dung at you from the sidelines.

Get it?
 
Re: Economy shrinks for first time in 3 1/2 years

The very idea repulses me. This has to be bull****. Something in economic and monetary structure creates recessions, and whatever it is, it needs to change.

It does me as well, but in the way our flawed western economy works, necessary.
 
Re: Economy shrinks for first time in 3 1/2 years

I'm talking about your ass and your tyrannical implications..

I'm glad you want my ass whooped. A dozen people would need their asses kicked before that happens. Getting to me would be like attempting to beat a NES video game.

What tyrannical implications have I EVER listed in this thread? Or even ever?
 
Re: Economy shrinks for first time in 3 1/2 years

What tyrannical implications have I EVER listed in this thread? Or even ever?

You're a socialist - need I say anymore?
 
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