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

  1. #331
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    I really feel your pain as well as understand just how progressives have very poor street smarts. Get your head out of the books and actually get out in the real world. Progressives and liberals believe they are smarter than they really are when the reality is they are basically arrogant believing they can do what previous progressives and liberals have failed to do. It really is a shame that we have people like you who believe in spending in the name of compassion yet never getting actual compassionate results just more dependence and a bigger central govt. Neither of which has ever been successful anywhere in the world.
    Whoosh! Right over your head.

    How many people are on "welfare" and what is their average age? Come on, I know you can say it!

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

    Quote Originally Posted by upsideguy View Post
    That was indeed exciting! Of course, that was just before we all learned that we were living in a false economy based substantially on home equity that really didn't exist. Once we realized we were living a lie and then had to take the next four years to pay for lie, well, then it wasn't so exciting.
    Right just like right now when nothing is as it appears because people like you ignore reality and actual results. Wall Street is doing quite well but Main Street is suffering unless you believe high unemployment, high debt, and low economic growth is a true liberal success story and the new normal.

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

    Quote Originally Posted by Conservative View Post
    Right just like right now when nothing is as it appears because people like you ignore reality and actual results. Wall Street is doing quite well but Main Street is suffering unless you believe high unemployment, high debt, and low economic growth is a true liberal success story and the new normal.
    And the conservative "solution"? -- more tax cuts for the wealthy and deregulate Wall Street even more.

    If a volcano erupted in New York City, conservatives would call on tax cuts as the answer.

  4. #334
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by head of joaquin View Post
    And the conservative "solution"? -- more tax cuts for the wealthy and deregulate Wall Street even more.

    If a volcano erupted in New York City, conservatives would call on tax cuts as the answer.
    LOL, more tax cuts for people who pay taxes but then again you have no idea how our economy works.

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

    Quote Originally Posted by Wayno View Post
    No, you posted a lot of nonsense because you were wrong......

    If you can't be honest with the rest of us, at least try being honest with yourself....

    As to "cognizant thoughts," obviously since yours were so wrong, I'm questioning if you even HAVE a "rare occasion....."

    We'll see.

    Have a good night.
    What was wrong about?
    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

  6. #336
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    Every metric, economic growth, personal income, job creation, misery index
    Nope, The recent recession wrought far more damage in terms of peak to trough job losses, growth and personal income. This is a well known fact to curious Google users.

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

    Quote Originally Posted by a351 View Post
    Nope, The recent recession wrought far more damage in terms of peak to trough job losses, growth and personal income. This is a well known fact to curious Google users.
    Since you weren't around in the 81-82 recession you are relying on what you are being told and not what actually happened. Try living under high inflation, high interest rates leading to a misery index approaching 30, and 10.8% unemployment? Try paying 17.5% for a home mortgage, well over 20% for commercial interest, having the banks foreclose on millions of homes, trying to get a U-Haul to move.

    I can see you have been brainwashed by the rhetoric of the present while ignoring the reality of the past

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

    Quote Originally Posted by Conservative View Post
    Since you weren't around in the 81-82 recession you are relying on what you are being told and not what actually happened. Try living under high inflation, high interest rates leading to a misery index approaching 30, and 10.8% unemployment? Try paying 17.5% for a home mortgage, well over 20% for commercial interest, having the banks foreclose on millions of homes, trying to get a U-Haul to move.

    I can see you have been brainwashed by the rhetoric of the present while ignoring the reality of the past

    Well written Conservative. Spot on.

    Variable interest rate mortgages, reverse amortization, etc., all had their genesis in the period as the economy struggled to operate under burden you listed.

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

    Quote Originally Posted by Conservative View Post
    Since you weren't around in the 81-82 recession you are relying on what you are being told and not what actually happened.

    Try living under high inflation, high interest rates leading to a misery index approaching 30, and 10.8% unemployment? Try paying 17.5% for a home mortgage, well over 20% for commercial interest, having the banks foreclose on millions of homes, trying to get a U-Haul to move.

    I can see you have been brainwashed by the rhetoric of the present while ignoring the reality of the past
    What actually occurred is well documented, and trumps any anecdotal experience you may have had.

    Interest rates were raised due to inflation, but I digress. The combination of the two simply didn't have the devastating effect on the finances of the individual that this latest bout wrought. Well documented and easily verifiable. (Also, the so called misery index didn't sniff 30 at any point during said time period or any time period for that matter.)

    I'll continue to deal in empirical terms, while some insist on continuing to prop up personal recollections as if significant on a broad scale.

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

    Quote Originally Posted by a351 View Post
    What actually occurred is well documented, and trumps any anecdotal experience you may have had.

    Interest rates were raised due to inflation, but I digress. The combination of the two simply didn't have the devastating effect on the finances of the individual that this latest bout wrought. Well documented and easily verifiable. (Also, the so called misery index didn't sniff 30 at any point during said time period or any time period for that matter.)

    I'll continue to deal in empirical terms, while some insist on continuing to prop up personal recollections as if significant on a broad scale.
    What actually occurred was actually experienced, something you will never understand. How did the current recession with record low interest rates affect you and your family? Every American was affected by the 81-82 recession.

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