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Thread: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

  1. #381
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    Remember the mess liberals claimed Obama inherited? The next Republican President will inherit a bigger mess with huge debt, high unemployment/under employment/discouraged workers, stagnant economic growth, and a much divided country with record numbers dependent on a massive central govt. That is a prescription for disaster....
    That's why I am not partisan. What happened under Bush was a "prescription for disaster", and what is happening under Obama may be a "prescription for disaster" (the jury is out on that). I really don't see much difference in real life implemented policy, just rhetoric.
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    ...I'm not interested in debating someone who is trolling for an argument....
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    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by imagep View Post
    Why don't you post a chart of the price of oil during that era?

    Never mind, I found one

    So you think OPEC explains everything?
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Jack Hays View Post
    So you think OPEC explains everything?
    From about 1973 to 1980, the price of oil went up 700%. You don't think that the price of oil is a significant contributor to inflation during that time? Then when the price of oil started dropping nearly as quickly, so did inflation. You can't see a significant correlation there? Or is it just coincidental? What's your explanation for double digit inflation?

    Every time that this world has seen true hyper-inflation, it has always been accompanied by some sort of reduction in supply of goods. OPEC reduced our supply of oil, this fits the scenario.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  4. #384
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Jack Hays View Post
    So you think OPEC explains everything?
    Of course not. You do notice that the price of oil keeps going up even though America is not only producing more oil than ever before, but is now a net oil exporter.

    That one fact should tell you that "drill baby drill" is not and can never be a solution to our gas prices.
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by donsutherland1 View Post
    Since GDP reports have been compiled on a regular basis, it is true that every quarter in which GDP fell at a 2.9% or greater annual rate either occurred during a recession or just prior to one. The largest drop that did not precede a recession was 1.5%. Still, even as there are some macroeconomic factors involved, there are also temporary factors (including but not limited to weather). Overall, I believe the best narrative for the year as a whole will be generally moderate growth. Rapid growth appears unlikely. Sluggish growth is a possibility, especially if some of the larger headwinds intensify.
    And I am sure you get a nice stipend for having and expressing that belief, but be real for a moment. Do you really think there is no source of trouble in the underlying economy? I admit there is no single sexy culprit to pinpoint as there was with the Dotcom bubble or the housing bubble, but that is a reflection of the overall weakness of the U.S. economy. No noteworthy growth stories exist and thus you have many less prominent bubbles rather than a single dominant bubble.
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by imagep View Post
    From about 1973 to 1980, the price of oil went up 700%. You don't think that the price of oil is a significant contributor to inflation during that time? Then when the price of oil started dropping nearly as quickly, so did inflation. You can't see a significant correlation there? Or is it just coincidental? What's your explanation for double digit inflation?

    Every time that this world has seen true hyper-inflation, it has always been accompanied by some sort of reduction in supply of goods. OPEC reduced our supply of oil, this fits the scenario.
    Seems more to correlate with Carter's time in office than any other trend.

    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Glen Contrarian View Post
    Of course not. You do notice that the price of oil keeps going up even though America is not only producing more oil than ever before, but is now a net oil exporter.

    That one fact should tell you that "drill baby drill" is not and can never be a solution to our gas prices.
    There is no "solution" to gas prices. They are what they are.

    "Drill baby drill" is indeed the answer.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Jack Hays View Post
    There is no "solution" to gas prices. They are what they are.

    "Drill baby drill" is indeed the answer.
    Technically I mean the US could set its own domestic oil prices for its own oil (OPEC sets Oil prices for the rest of the world) and yes drill baby drill is indeed the answer, because if we use our own OIL we can charge ourselves w/e we want.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by donsutherland1 View Post
    Since GDP reports have been compiled on a regular basis, it is true that every quarter in which GDP fell at a 2.9% or greater annual rate either occurred during a recession or just prior to one. The largest drop that did not precede a recession was 1.5%. Still, even as there are some macroeconomic factors involved, there are also temporary factors (including but not limited to weather). Overall, I believe the best narrative for the year as a whole will be generally moderate growth. Rapid growth appears unlikely. Sluggish growth is a possibility, especially if some of the larger headwinds intensify.
    '...according to the latest data from the Bureau of Economic analysis, there has never been a time in history that year-over-year gross domestic income has been at its current pace (2.6 percent) without the U.S. economy ultimately falling into recession. That’s more than 50 years of history, which is about as good as one could ever hope for in an economic indicator.'

    This Has Never Happened Without The US Falling Into Recession | Zero Hedge

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by DA60 View Post
    '...according to the latest data from the Bureau of Economic analysis, there has never been a time in history that year-over-year gross domestic income has been at its current pace (2.6 percent) without the U.S. economy ultimately falling into recession. That’s more than 50 years of history, which is about as good as one could ever hope for in an economic indicator.'

    This Has Never Happened Without The US Falling Into Recession | Zero Hedge


    It was one of those " 50 year " winters.

    But the Obama apologist have forecasted a 4 percent increase in growth though !!

    Nothing to worry about
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    " Return to Power By Any Means Necessary "

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