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Thread: GDP Contracted at 1% Pace in First Quarter

  1. #61
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Fenton View Post
    We tried to warn you people back in 2008 when Millions of Americans were equating empty plattitudes to Presidential qualifications.

    People like you supported this guy and his progressive policies. Voted for him and gave him the power to sign destructive legislation.

    So why are the Conns the bad guys ?
    He hasn't done anything. The do nothing republican congress won't let him. They are content on continuing the GBR.
    bears, bulls, white sox fan 4 life!!!

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by poweRob View Post
    My personal prediction is that it will rebound really quickly but we are headed for another wall street/banking crash in about a year or two. We've done nothing to the "too big to fail" sector after we bailed them out in 2007/2008 and now they are much bigger than they were then. Then there are the investments based on rampant speculation rather than company forecasts and production which is inflating stock. Not to mention the stupid practice of computer investments that buy and sell fractional shares in nanoseconds based on mathematical algorithms and not company forecasts and production. All this is creating extremely false worth and instability in the markets.
    Everyone in Washington has known they need to knock down some of these too big to fail companies a notch or two. But I suppose those too big to fail companies continue to donate much needed campaign cash to those in Washington just so they won't.
    This Reform Party member thinks it is high past time that we start electing Americans to congress and the presidency who put America first and their political party further down the line. But for way too long we have been electing Republicans and Democrats who happen to be Americans instead of Americans who happen to be Republicans and Democrats.

  3. #63
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Fenton View Post
    Yes, going on 6 years and its still the last guys fault....

    Lol !
    It sort of is Bush's fault and Clinton's and Greenspan's and all the various private lenders who played along. Never mind the various Senators and Representatives who had their roles. This was a bipartisan f**kup.

    Quote Originally Posted by Visbek View Post
    ...a trend that started in 2001. By the way, wages went flat in the early 1970s -- so the complaints about "low-paying jobs" could be leveled at any President who presided any time in the past 40 years.
    Are you suggesting these things were not made markedly worse over the past few years?

    The market isn't going through the roof because of Fed policies. It's because corporate profits are through the roof, mostly as a result of squeezing employees as hard as they can during bad economic times.
    More like by pumping up stock prices, which are being artificially inflated by widespread buybacks, high-frequency trading, and trillions of dollars in Fed cash. Look at your graph real closely, and then consider why that graph may not be saying a good thing about the economy.

    Companies are also holding record amounts of cash. Is that also a "negative indicator?" U.S. Firms Hold Record $1.64 Trillion in Cash With Apple in Lead - Bloomberg
    Yes, actually. It suggests they aren't spending money because they either have nothing to spend it on or are hoarding cash out of concern that they may need it soon.

    "Rigged" by whom?
    See above.

    Which "meaningful indicators" are you talking about? The Conference Board's LEI has been rising for 3 months in a row. Pretty much everyone understands that Q1 got hammered by an awful winter, and it is likely to have produced some pent-up demand.
    Actually, pretty much everyone agrees there were other reasons for bad indicators and that weather does not come close to explaining it all. The pent-up demand is probably true, which is why some of the indicators look better right now.

    What fantasy is this?
    Oh come, come, the bailouts of big money institutions and moral hazard was Long-Term Capital Management and the housing bubble started getting blown up in the late 90's to cover for the dotcom bubble.

    "Yes" in that we are still in a bit of a liquidity trap, which means the Fed can continue actions like QE without causing inflation any time soon -- in the same way that they have done so for many years now, without producing the "hyperinflation" expected by people who don't understand economics well.

    "No" in that the Fed can't really do much more at this point if the economy takes a serious downturn. Inducing "hyperinflation" is obviously something no US central bank will do, at least not during our lifetimes. We are also a long, long way from any sort of default because of anything other than legislative dysfunction.
    Hyperinflation is not something a central bank aims to achieve. It is a function of mismanagement. The Fed is not stupid enough to get the U.S. into that sort of mess, in my opinion, which is why I do not think they will do much about another downturn. All they could do in the event of another serious downturn is print money like crazy, which could easily lead to hyperinflation and hyperinflation means default.
    "For what is Evil but Good-tortured by its own hunger and thirst?"
    - Khalil Gibran

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Demon of Light View Post
    Exactly:



    Source: Forbes

    That people buy this crap is what really makes for a laugh. Absent the Obamacare surge in healthcare spending this would have been a 2% contraction. It may still be revised lower as is wont to happen.

    You are actually going to claim Obamacare pumped 1 % of GDP into the economy? Care to document that?
    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.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Demon of Light View Post
    Actually, pretty much everyone agrees there were other reasons for bad indicators and that weather does not come close to explaining it all. The pent-up demand is probably true, which is why some of the indicators look better right now.
    Who is this everyone? You and?
    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.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by jmotivator View Post

    The "recovery" is over.
    Or hasn't started yet or may never start. The numbers used to declare recessions and recoveries apparently don't indicate anything about economic health because we haven't any of that since late 2007. The economy has been poor since then regardless of the numbers people use to measure it. Perhaps there needs to be a new measure that is more meaningful.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by poweRob View Post
    Bad news for America... and the GOP rejoices.
    Who is rejoicing? Your argument is like saying that Democrats rejoiced at every dead soldier in Iraq.
    Last edited by jmotivator; 05-30-14 at 08:47 AM.
    Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Conservative View Post
    That was four million less than in 2008 and the more people see of him the more they realize the mistake they made. Why would anyone support the transformation of this economy into a European socialist one?
    Because they are bribed with wealth redistribution.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by poweRob View Post
    Really? Healthcare? But the GOP told us that Obamacare was supposed to destroy that sector right before destroying our economy altogether... hrrmmmmm
    Perhaps its delayed given how a lot of the bill was initially delayed, and Obama has been delaying some of the worst provisions since then. When does Obamacare even take effect?

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by 99percenter View Post
    Obama inherited a mess. What reagan inherited is pale in comparison to GBR.

    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.

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