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Thread: GDP Contracted at 1% Pace in First Quarter

  1. #101
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    Re: GDP Contracted at 1% Pace in First Quarter

    Ah, so every one is a couple people saying marginally related things. Got it.
    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

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Redress View Post
    Ah, so every one is a couple people saying marginally related things. Got it.
    Read again. It is not a couple people, nor is it "marginally-related" as it explicitly concerns how much impact they estimate weather had.
    "For what is Evil but Good-tortured by its own hunger and thirst?"
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by poweRob View Post
    I'll tell you what.... You live in that wonderful republican owned economy of 2008 then.

    PS... I did not vote for Obama in 2008.
    Let's see if I have this right, Bush with a Democrat Congress in 2007-2008 is responsible for the results but with Obama and a Democrat Congress from 2009-2011 and a split Congress from 2011 to the present isn't responsible for the economy and its Congress's fault? When exactly does the Economy become Obama's? Would love to have an answer but doubt I will get one

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Conservative View Post
    Let's see if I have this right, Bush with a Democrat Congress in 2007-2008 is responsible for the results but with Obama and a Democrat Congress from 2009-2011 and a split Congress from 2011 to the present isn't responsible for the economy and its Congress's fault? When exactly does the Economy become Obama's? Would love to have an answer but doubt I will get one
    When it comes to holding Obama responsible, Libbos are roaches and the light just got turned on.
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by poweRob View Post
    Well this is what we get when our conservative scotus tells us corporations are people and money is speech. The too big too fail "people" become the only speech our politicians can and want to hear.
    Like GM, you mean? The UAW was too big to fail, but you don't seem to mention that.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by apdst View Post
    Like GM, you mean? The UAW was too big to fail, but you don't seem to mention that.
    That is because GM is now owned by the Democrat Operatives in the union. Liberals certainly have double standards.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Fenton View Post
    Not true, Reagan inherited double digit interest rates, poverty rates were at a all time high, and Unemployment rates were higher and you're STILL 6 years in blaming Bush.

    Its getting childish.
    Double digit interest rates? lol. I thought conservatives loved high interested rates. And reagan didn't have to inherit the worst housing recession in american history. Im still wondering what kind of idiot would think that that using the taxpayers money to give a minimum wage mcdonalds worker a $500,000 loan is a good idea. Oh this guy/
    bears, bulls, white sox fan 4 life!!!

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by JRSaindo View Post
    the terrible April departure of people from the labor force
    Yeah, who said people should be allowed to retire? Lazy bums!

    >>economists have manipulated data to work with

    Hey! Don't go around telling people about that.

    Quote Originally Posted by JRSaindo View Post
    Everything I read says people are giving up looking for work in droves.
    The decline in labor force participation in recent years has been widely "employed" to criticise Obama's economic policies. I'd say it's also widely misunderstood. I'm reluctant to post a link to another of my posts, but I'd also like to avoid simply repeating stuff, so you can absorb my wisdom on LFP trends here.

    Quote Originally Posted by mtm1963 View Post
    the worst growth rate after a recession in modern times.
    The first near-collapse of the financial sector since the Great depression.

    Quote Originally Posted by Conservative View Post
    Do you realize that the total debt now exceeds 100% of GDP
    Do you realize that that Reagan and Bush43 are responsible for getting us there?

    >>that there still are fewer people working today than when the recession began

    Private-sector employment in April was 116.4 million. The previous high was 116 million in Jan 2008.

    >>that the economic growth is below the average of the Bush term

    Wrong again.

    RGDP.png

    >>that the unemployment/under employment is worse than anything Bush had

    U-6, the Labor Department's broadest measure, was 12.3% in April. When Bush left office, it was 14.2%

    >>It is great to be loyal but loyalty has to have its limits. When will we ever reach that limit with Obama supporters?

    Perhaps when and if he gives us reason to.

    Quote Originally Posted by Fenton View Post
    Uhm, what persistent growth ? GDP would indicate "persistent growth".
    GDP expanded in seventeen of the last nineteen quarters.

    Quote Originally Posted by bubbabgone View Post
    Was this 5 year period a typical recovery?
    Was this a business cycle recession?

    Quote Originally Posted by Conservative View Post
    Tell me how the 3.9 trillion dollar Obama budget shows someone interested in lowering the deficit and debt?
    Def_As_Pct_GDP_Chart.jpg

    >>Seems that the definition of transforming America was interpreted differently by the American people vs Obama's.

    Re-elected by five million votes and 322-206.

    >>We are getting exactly what Obama wanted, a European socialist economy with low economic growth

    Recovery from a near-collapse of the financial sector.

    >>high unemployment

    6.3% and continuing its steady drop from the disaster he inherited.

    >>high debt

    Rapidly declining deficits … from the disaster he inherited.

    >>an economy dependent on the Federal Govt. thus more people dependent on that govt

    Rhetoric.

    Quote Originally Posted by Demon of Light View Post
    Whether you can call this job growth is an open question. The raw numbers are higher, but the working-age population has also grown.
    That's why a percentage is calculated.

    >>At the same time labor participation is at multi-decade lows.

    A multi-decade demographic trend.

    >>Even then, many of the jobs being "created" are lower income jobs or part-time jobs.

    Part-time employment has dropped by 400K. Yer right about incomes. We should invest in education, R & D, and infrastructure. And we should raise the minimum wage. Labor is getting screwed — it's not the Democrats' fault.

    >>Never mind that any "growth" in the economy is fueled entirely by various Fed and government injections that are unsustainable and distort the market.

    OK, that'll be easy. It's a baseless claim.

    >>Stocks jumping higher on such horrible news is a pretty good indicator of how rigged the market has become.

    What horrible news?

    >>All meaningful indicators point to a recession starting this year

    Did we get an answer to the question Visbek raised about what those indicators are? The forecasts I've seen predict fairly strong growth.

    Quote Originally Posted by Fenton View Post
    Reagan was actually qualified
    Qualified to act in B movies.

    >>and he DID inherit a mess

    Some do argue that, e.g., Sarah Palin. Others point to the fact that Obama was faced with a near-collapse of the financial sector similar to the events that precipitated the Great Depression. See, e.g., PolitiFact.

    As that article points out, the economy was not in recession when Mr. Reagan took office. There were two recessions in the early 1980s, one in the the first two quarters of 1980, and another in the last two of 1981. So the economy was expanding for six months before Reagan's term began, and continued to expand for another six months.

    I'm willing to go along with those who call those a "double-dip" recession, although I'd say there's good reason not to. i have to wonder if Obama's critics would be as generous.

    >>But Reagan's not relevant to your irrelevant Bush blame.

    Yes, but he's the focus of the Reagan blame reality.

    Quote Originally Posted by Fenton View Post
    Reagan inherited double digit interest rates
    I was easy to get those down. Howard Baker told Volker to take his foot off the country's throat.

    >>poverty rates were at a all time high

    Nonsense.

    >>Unemployment rates were higher and you're STILL 6 years in blaming Bush

    In Jan 1981, unemployment was 7.5%; in Jan 2009, it was 7.8%.

    In July 1982, it was 7.2%, By Nov 1982, it was 10.8%. One year later, it was still 8.3%. As late as Oct 1986, it was still 7%.

    Obama's record is much different. It climbed to 10% in Oct 2009 as the effects of the Great Recession played through the labor market. It declined slowly over the next two years to 8.8%. Some economists argue that the ARRA wasn't big enough. In the last twenty months, as consumer and business confidence have strengthened, it's dropped from 8.1% to 6.3%.

    >>Its getting childish.

    Seems like it always has been.

    Quote Originally Posted by Conservative View Post
    After the 81-82 Carter double dip, Reagan had 7.5% GDP growth. That shows what leadership can and will do.
    That shows what a huge tax cut that created massive deficits can do — the Reagan stimulus.

    Quote Originally Posted by Fenton View Post
    QE is artificially boosting asset prices and lowering risk. thought this was common knowledge.
    Common among people who don't know what they're talking about.

    Quote Originally Posted by Demon of Light View Post
    It [labor force participation] has clearly and indisputably declined more severely since 2008-2009.
    Depends on what you mean by "severely." LFP was 65.9% in April 2008. It was 64.6% in Dec 2009. It's averaged 63% during the past nine months.
    Last edited by mmi; 05-31-14 at 04:18 PM. Reason: added chart

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    Re: GDP Contracted at 1% Pace in First Quarter

    mmi, you really have a problem with facts, that massive stimulus that Reagan implemented created 17 million jobs, doubled the GDP, and increased FIT revenue by 60%. That information is available at BLS.gov, BEA.gov, and the Treasury Dept. It also created a peace dividend that was wasted but then again facts never were much of a friend to you especially someone who probably hadn't been born yet so you buy what the left tells you. one of these days you will outgrow that

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Conservative View Post
    that massive stimulus that Reagan implemented created 17 million jobs
    And nearly doubled the per capita national debt.

    nat_debt_per_capita_Kennedy_Obama.jpg

    >>doubled the GDP

    Real GDP:

    1980 — 6.49 trillion
    1988 — 8.60 trillion

    A 32.5% increase.

    >>increased FIT revenue by 60%.

    A big increase in Social Security taxes played a large role in generating that additional revenue.

    In 1983, for example, he signed off on Social Security reform legislation that, among other things, accelerated an increase in the payroll tax rate, required that higher-income beneficiaries pay income tax on part of their benefits, and required the self-employed to pay the full payroll tax rate, rather than just the portion normally paid by employees. — Taxes: What people forget about Reagan," CNNMoney, Sept 12, 2010

    >>It also created a peace dividend that was wasted

    Yeah, wasted when Chaingang and associates ignored the clear warnings of an imminent Al Qaeda attack inside the US, and then spun their lies to get us to invade Iraq.

    >>facts never were much of a friend to you

    I always get a laugh out of yer arrogant ignorance.

    >>someone who probably hadn't been born yet

    http://www.debatepolitics.com/breaki...post1063275988

    >>you buy what the left tells you. one of these days you will outgrow that

    Sadly, it looks like you'll never outgrow yer … disorder.

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