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

  1. #341
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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.
    Suggest you do better research vs. believing what you are told. What is it about liberalism that creates this kind of loyalty?

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

    Quote Originally Posted by Conservative View Post
    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.
    LOL! You were alive in the 80's? How mysterious and perplexing! It's not the whole "I was there" concept that I disregard, it's the "I was alive, it sucked, and that overrides empirical evidence on a macro scale that demonstrates it wasn't quite as far reaching as claimed" part.

    Gee, certain members of my family's home values fell through the floor, and subsequently lost a great deal of wealth stored away for retirement. Others lost their jobs alltogether and have been working multiple part time positions in order to stay above water. They've been clawing back ever since, but the effects were and remain tangible.

  3. #343
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    Suggest you do better research vs. believing what you are told.
    Where would that research be?
    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

  4. #344
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    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.
    I was around for the 81-82 recession. Affecting every citizen, yes but to the degree of misery? Hardly. Short and sharp, way before the financial system had gutted itself for that last dollar. The S&L crisis was minor compared to the meltdown this time. Our loan wasn't that affected by the crazy 'fix' Volker used, we had a CAP on the rate of change.

    Now this very slight retraction is not unexpected. No one really think it will be a smooth ride out of the biggest mess since 1929.

    The 'conservative' whine over this reminds me of the nervous flyers I ride with alot. First bit of turbulence and they scream-"We're going DOWN!"

    Steady in the ranks, now is not the time to run away.

  5. #345
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by a351 View Post
    LOL! You were alive in the 80's? How mysterious and perplexing! It's not the whole "I was there" concept that I disregard, it's the "I was alive, it sucked, and that overrides empirical evidence on a macro scale that demonstrates it wasn't quite as far reaching as claimed" part.

    Gee, certain members of my family's home values fell through the floor, and subsequently lost a great deal of wealth stored away for retirement. Others lost their jobs alltogether and have been working multiple part time positions in order to stay above water. They've been clawing back ever since, but the effects were and remain tangible.
    lost a great deal of wealth? Did they sell their homes at a loss? Job losses were worse in 81-82 as BLS shows and thanks to Obama they have to work a couple jobs to survive. Why was the recovery quicker during the 80's? What economic policy has Obama generated to stimulate the recovery? Why is this the worst recovery in U.S. History?

    What I will never understand is how people like you who didn't work during the 81-82 recession can claim this recession was worst. That so called emperical evidence you claim doesn't support your position at all, nor do those of us who lived and worked during that period of time.

    Barack Obama lack of leadership skills and understanding of our economy mirrors yours. The role of the govt is viewed differently now vs. 81-82 as we have become the entitlement state vs. one of personal responsibility.

  6. #346
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by notquiteright View Post
    I was around for the 81-82 recession. Affecting every citizen, yes but to the degree of misery? Hardly. Short and sharp, way before the financial system had gutted itself for that last dollar. The S&L crisis was minor compared to the meltdown this time. Our loan wasn't that affected by the crazy 'fix' Volker used, we had a CAP on the rate of change.

    Now this very slight retraction is not unexpected. No one really think it will be a smooth ride out of the biggest mess since 1929.

    The 'conservative' whine over this reminds me of the nervous flyers I ride with alot. First bit of turbulence and they scream-"We're going DOWN!"

    Steady in the ranks, now is not the time to run away.
    Aw, yes, short memory, high interest rates, high unemployment, negative economic growth all higher than the 08-09 recession say you are wrong. Keep reading those books and ignoring reality.

    The movement of this country to the entitlement state and massive central govt. says it all. That didn't happen in 81-82.

    That so called conservative whine you and others claim about is nothing more than rhetoric. Historical data plays no place in your world as feelings trump reality and negative pro growth economic policy rhetoric trumps the foundation upon which this country was built.

  7. #347
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Whipsnade View Post
    Where would that research be?
    Google Misery index by month and get the data. Use bls.gov, bea.gov, U.S. Treasury and U.S. Census data

  8. #348
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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
    Do you realize that began during the Ford administration? We bought our house in 1975 and got a 5% rebate from President Ford and it was because of the economy.Ford was a Republican.


  9. #349
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by pbrauer View Post
    Do you realize that began during the Ford administration? We bought our house in 1975 and got a 5% rebate from President Ford and it was because of the economy.Ford was a Republican.
    right, Ford was President from 1976-1980? Was Ford President in 1980 when we were in recession? Was Reagan? Love your map, Obama did a great job generating all that red

  10. #350
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    Suggest you do better research vs. believing what you are told.
    Better research in what facet? Any figures I've presented you'd like to take a swipe at?

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