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

  1. #391
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Kushinator View Post
    Net Worth of Households and non-profits fell by more than 30% during 2008-2009, and are still not at previous levels. I know you are having trouble understanding the significance. The total wealth in the U.S. is at 2006 levels. Anecdotes do not support your hypothesis.
    People don't spend net worth, they spend personal income. Net worth goes up and down and the problem is the net worth hasn't recovered because of very poor leadership and economic policies. You are like far too many who don't understand leadership at all. The role of the President is to be a leader and this President doesn't understand the concept.

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

    Quote Originally Posted by OpportunityCost View Post
    Conservative, you are wrong. The misery index is not the sole indicator of the depth and problems inherit in a recession. The current recession is as bad if not worse than the one in Reagan's term and worse for its length if nothing else. While inflation is not as high, unemployment is both higher and more in depth throughout the population.

    Your point as to which one is worse is kind of moot because they are different circumstances with different problems. Problems which we are not solving very well imo.
    Never said it was only that more people were affected by the 81-82 recession than the recent one and poor leadership prolonged the recession. A net worth drop isn't an indication of how bad a recession is unless you are selling assets. People were selling assets big time in the 81-82 recession or walking away from them. No one in 81-82 got two years of unemployment insurance and all the welfare benefits being offered today. That is reality, most youngsters today don't have any idea only buy what they read

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

    Quote Originally Posted by CriticalThought View Post
    Reachin for straws now are ya? Executive orders have what to do with the economy shrinking?
    You telling me that the Democrat controlled Congress didn't implement the President's policies? The economy shrunk because of poor leadership and poor economic policy. There is no incentive for the private sector to grow and that is the basis of our economy.

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

    Quote Originally Posted by Kushinator View Post
    Using such analysis, the recession of the 1980's was worse than the recession of the 1930's. Somehow i just cannot agree with that analysis.
    FDR's policies prolonged The Great Depression. So in a way, you are correct, though only to your detriment. You undermine your own argument by trying to use it as an example.

    Par for the course

    FDR's policies prolonged Depression by 7 years, UCLA economists calculate / UCLA Newsroom

  5. #395
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    Re: Economy shrinks for first time in 3 1/2 years

    Moderator's Warning:
    Economy shrinks for first time in 3 1/2 years[W: 395]Personal attacks, trolling, baiting, anything even remotely off topic, it all needs to come to an end.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  6. #396
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Wayno View Post
    About 80 people went to jail for the S & L scandal back in the eighties........

    If this recession is so much worse, how come NOBODY has gone to jail for it?

    Oh, that's right.

    Many of the people responsible bought the White House for this President.

    Regardless, Obama has given us the WORST and SLOWEST recovery from a recession in American history...

    Regardless of HOW MUCH the media trumpets the inevitable return of the economy as some kind of "Obama miracle," he's already earned a big "FAIL."
    You say "Many of the people responsible bought the White House for this President "Lets see some of the names of the people that you say bought the "white house" for BO.
    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 Conservative View Post
    Never said it was only that more people were affected by the 81-82 recession than the recent one and poor leadership prolonged the recession. A net worth drop isn't an indication of how bad a recession is unless you are selling assets. People were selling assets big time in the 81-82 recession or walking away from them. No one in 81-82 got two years of unemployment insurance and all the welfare benefits being offered today. That is reality, most youngsters today don't have any idea only buy what they read
    And in this one, people are having assets forclosed or repossessed. Your view of things is myopic. This recession is pretty bad. Comparing it to 81-82 doesnt do anything useful or constructive, unless we learn something from it.

  8. #398
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Whipsnade View Post
    You say "Many of the people responsible bought the White House for this President "Lets see some of the names of the people that you say bought the "white house" for BO.
    You ignoring his supporters in the financial district is borne of what? Partisan blindness?

    Lawyers, academia, unions, the press, financial sectors, all had heavy support for Obama.

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

    Quote Originally Posted by Conservative View Post
    As a good little liberal you are going to need a lot of govt. help.

    Good leadership and sound economic policy would have generated the 7% GDP growth Reagan had after a worse recession than today's. Sorry but the sooner you realize that you are wrong the easier it is to correct your mistakes
    With what exactly? The figures are what they are. No need to double down on an obvious error.

    Pure speculation and of the wishful variety at that. Absolutely none of the fundamentals would suggest 7 percent growth was ever in the cards following a recession of this magnitude. Recessions accompanied and driven by the financial sector and truckloads of household debt simply aren't wished away by mere leadership.

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

    Quote Originally Posted by Conservative View Post
    Not that results matter to the Obama cult but further signs that we are on the wrong path and that Obama doesn't have any interest in growing a private sector economy. The new normal today is high unemployment, high debt, massive dependence on the govt, and low economic growth. Congratulations to those of you who believe it is the role of the govt. to provide cradle to grave coverage funded by the rich.

    US economy shrinks 0.1 percent, 1st time in 3 1/2 years | Fox News
    defiant-peewee-meme-generator-today-s-secret-word-is-abortion-738b2e.jpg

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