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

  1. #301
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Kushinator View Post
    This is not even a response.

    I stated:



    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.
    Net worth is something that you can recover and most have, especially quick recovery thanks to Reagan economic policies.

    There is no strawman, I lived and worked during both, did you? I can say the 81-82 recession was every bit as bad if not worse economically for all Americans and the recovery was much better and quicker because of Reagan.

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

    Quote Originally Posted by Conservative View Post
    Net worth is something that you can recover and most have, especially quick recovery thanks to Reagan economic policies.
    Net worth never fell during the Reagan administration because asset values were not falling at record levels (think net present value of fixed income securities and how they can be impacting by a decline in yield to maturity).

    There is no strawman, I lived and worked during both, did you? I can say the 81-82 recession was every bit as bad if not worse economically for all Americans and the recovery was much better and quicker because of Reagan.
    The recovery was better and quicker because nobody had to dig their way out of net wealth declines of 100% of GDP. It takes time for people and businesses to repair their balance sheets. Once this happens, i expect the U.S. economy to grow rather abruptly.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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

    Quote Originally Posted by Conservative View Post
    I can say the 81-82 recession was every bit as bad if not worse economically for all Americans
    Based on what metrics? Personal recollections simply don't hold water.

  4. #304
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Kushinator View Post
    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.

    Yep, when liberal democrat politicians force lower standards for morgages, and then the GSEs get involved to the tune of two trillion dollars as banks are forced to create loans because of the charge of redlining, its a sure thing there will be hell to pay.

    The problem started when millions of Americans foolishly elelected not a qualified man, but a Media manufactured idelogue to turn things around.

    Keynesian....what an idiot. Folks Keynesian is a short term response in a isolated economy. All peebo did was borrow hundreds of billions, give it out to State and local unions so people cpuld buy Chinese crap.

    Think about it. Obama and Bernake have the petal to the metal, massive stimulus by way of defecit spending, low interest rates, banks getting their money for free AND the Feds paying them interest on their massive reserves and its all falling apart.

    You two libs and your inabillity to look at the actual data objectively are just the epitome of deperation.

    Niether of you know what your talking about because your locked into a partisan cartoon characterization.

    Ideology before truth huh ? No thanks.

    Thanx for effing things up for millions of Americans. Watching you two slime your way through a debate on the economy is priceless.

  5. #305
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    Net worth is something that you can recover and most have, especially quick recovery thanks to Reagan economic policies.

    There is no strawman, I lived and worked during both, did you? I can say the 81-82 recession was every bit as bad if not worse economically for all Americans and the recovery was much better and quicker because of Reagan.


    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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

    Quote Originally Posted by Kushinator View Post
    Net worth never fell during the Reagan administration because asset values were not falling at record levels (think net present value of fixed income securities and how they can be impacting by a decline in yield to maturity).



    The recovery was better and quicker because nobody had to dig their way out of net wealth declines of 100% of GDP. It takes time for people and businesses to repair their balance sheets. Once this happens, i expect the U.S. economy to grow rather abruptly.
    To be blunt and to the point; Reagan's plan worked because it allowed production worthwhile - or in laymens terms, Reagan made it economically viable again to produce a product.

    I suppose that **** happens when taxes are lowered, business owners actually take the money that would have gone to the government and use that money to hire new employees - who would have ****ing thunk?

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

    Quote Originally Posted by Kushinator View Post
    Net worth never fell during the Reagan administration because asset values were not falling at record levels (think net present value of fixed income securities and how they can be impacting by a decline in yield to maturity).



    The recovery was better and quicker because nobody had to dig their way out of net wealth declines of 100% of GDP. It takes time for people and businesses to repair their balance sheets. Once this happens, i expect the U.S. economy to grow rather abruptly.
    You have yet to explain your personal experiences during the 81-82 recession and how it hurt you and your family?

  8. #308
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by a351 View Post
    Based on what metrics? Personal recollections simply don't hold water.
    Every metric, economic growth, personal income, job creation, misery index

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

    And where is the unemployment figure? 157,000 net new jobs in Jan. New unemployment claims were 368,000. Do the math.

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

    Quote Originally Posted by Whipsnade View Post


    Awesome, now how has that affected you and your family? Wall Street doing well, how about main street? Were you this excited when we had record tax revenue and a 14000 Dow in 2007?

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