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

  1. #11
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    Your opinion noted, but obviously you have no understanding of our free market economy and the components of tha teconomy

    In this country there are 23 million unemployed/under employed/discouraged workers and that is the new normal here.

    Name for me one successful socialist country with low unemployment, high economic growth, and no debt?

    Doubt seriously that you have any clue as to how a private sector economy works or really what is going on with yours.
    Whatever, ditto to you.

    Which is about 8 or 9%, higher than it should be, but not astronomical like many make it out to be.

    The People's Republic of China. Virtually no unemployment, an economy growing at 10%, and very low gov't debt.
    "After all, you know, there are worse things in life than death. I mean, if you've ever spent an evening with an insurance salesman, you know exactly what I mean."
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by DVSentinel View Post
    Not a big surprise. Holiday spending was down, so post holiday, which is a traditionally low time of year, was bound to be down also. Though gas prices are down from a high water mark of last year, they are still high. Couple this with continued rise in food and other necessities, and the economy has to shrink. Pay is not increasing to meet the new demands on basics, so less to spend on other things. All the "stimulus" in the world is not going to change this, unless of course we hand out enough to keep pace with inflation on basic needs.

    To me, this is not the first "negative" growth we have had during that time period. Anytime growth does not keep pace with inflation on basic needs, then it is not really growth. With new EPA requirements hitting the electric power industry, continued inflation on food stuffs, continued high prices for housing, etc, it will only get worse. Credit, government manipulation and other factors have created a false "high" in the economy and it will at some point have to make a gross adjustment back to where it should be. This is going to hurt and there is no real way to prevent it.
    More excuses for the very poor economic policies of a President who has no interest in the private sector economy and only interest in social justice. This President is expanding the role and scope of the Federal Govt. and supporters are getting their wish, greater dependence and power.

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

    Quote Originally Posted by Juiposa View Post
    Whatever, ditto to you.

    Which is about 8 or 9%, higher than it should be, but not astronomical like many make it out to be.

    The People's Republic of China. Virtually no unemployment, an economy growing at 10%, and very low gov't debt.
    How much growth did it display before the introduction of "capitalist zones"?
    Only a fool measures equality by results and not opportunities.

  4. #14
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Juiposa View Post
    I read the article after posting that. Article does cite defence spending cuts though. My statement still stands regardless.
    Your statement doesn't create an argument that justifies the decline in GDP over the 4th quarter. While in theory your point may be correct in some circumstances, it has nothing to do with what happened here. The defense spending cuts were $497 billion over 10 years. That means that we're looking at a total of $49.7 billion-ish for the next 12 months, and NOT all at once during the 4th quarter...(in fact, if you divide it by 4 you end up with $12.425 billion over three months).

    Our GDP is over $13 trillion. How does $12.425 billion (ish) in defense spending cuts (some of which would have left the U.S. without entering into our economy anyway) make up the "bulk" of a 2.6% loss in growth?
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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

    Quote Originally Posted by Juiposa View Post
    Whatever, ditto to you.

    Which is about 8 or 9%, higher than it should be, but not astronomical like many make it out to be.

    The People's Republic of China. Virtually no unemployment, an economy growing at 10%, and very low gov't debt.
    LOL, China? how do you know what is going on in China? By the way do you want China wages? a billion people in China living in poverty and dependent on the govt. Now that is a liberal socialist dream world.

    The grass is always greener on the otherside until you get there and even when a liberal gets there it is always someone else's fault for the actual conditions there thus more govt. spending needed to make the grass greener.

  6. #16
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Juiposa View Post
    Cutting spending OR raising taxes will cause recession, especially with the $1 trillion you guys need to balance. A minor recession is enevitable when balancing a deficit so large.
    Nobody is "balancing" anything. Obama's idea is that raising federal spending is fine, but that any cuts in federal spending must be "balanced" by tax increases, preferably only on "the rich". The last tax increase, of $60 billion/year (on "the rich"), was immediately spent by adding $30 billion in "emergency" UI extensions and $60 billion in Sandy storm aid. Naturally the Obama "gun control" package includes more federal spending with no "pay as you go" spending cuts.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  7. #17
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by DVSentinel View Post
    How much growth did it display before the introduction of "capitalist zones"?
    Whilst totally communist, I'm not sure. Honestly. All I know is with their current controlled free market, they're one of the fastest grow economies.
    "After all, you know, there are worse things in life than death. I mean, if you've ever spent an evening with an insurance salesman, you know exactly what I mean."
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    LOL, China? how do you know what is going on in China? By the way do you want China wages? a billion people in China living in poverty and dependent on the govt. Now that is a liberal socialist dream world.

    The grass is always greener on the otherside until you get there and even when a liberal gets there it is always someone else's fault for the actual conditions there thus more govt. spending needed to make the grass greener.

    Never said I wanted to live China. Nor do I. You asked for a socialist country that met your criteria, and I gave you one.
    "After all, you know, there are worse things in life than death. I mean, if you've ever spent an evening with an insurance salesman, you know exactly what I mean."
    -Woody Allen

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

    Well, we're doing fine over here in Hooterville hoping the DOW hits 14k today! Wooohooo! Way to go Obama!

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

    Quote Originally Posted by Juiposa View Post
    Whilst totally communist, I'm not sure. Honestly. All I know is with their current controlled free market, they're one of the fastest grow economies.
    Not much. It was the introduction of the capitalist zones and foreign investment that spurned their growth. A lot of that growth is predicated upon the fact that labor is so much cheaper there. Their previous socialist economy left them in such poverty that they now that they have dropped it, they are seeing major growth. They have to grow, since they couldn't really shrink anymore and with the labor cost differential with the rest of the world and their allowing these new zones, it is only natural that they grow. Take away the labor cost differential, and then see where they would be. Even their growth though is totally dependent upon exports to other parts of the world, internally, they cannot support growth yet.
    Only a fool measures equality by results and not opportunities.

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