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

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

    Quote Originally Posted by Fruityfact View Post
    Like Kantsus?
    Oh, and don't just post isolated examples such as resource rich Texas or the oil rich Dakotas
    Show me an overall trend where red states do better

    Right, and of course there are no resources in California or along the East Coast. It is very easy to show what you are unwilling to accept, red states have a growing population, growing job market and a growing GDP. What is wrong with people like you, jealousy trumps reality. Steal shamelessly and you could create a Red state economy in your blue state

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

    Quote Originally Posted by MTAtech View Post
    First, I have every "concept" of the components of GDP. It's really not a difficult equation.

    Second, "putting more money into the hands of the consumers" doesn't guarantee that they will spend that money, and therefore, boost aggregate demand and GDP. Consumers can save that money too. There is ample research on all of this and the conclusion is that tax-cuts are inefficient stimulus. Tax cuts do work as stimulus. It's just that government spending will work even better, since the government can decide to spend that money entirely, thereby creating more effective stimulus. Hence, the multiplier effect is higher with government spending than tax-cuts.
    What do people do with their money and what effect does that have on the economy? Whether they save it, spend it, invest it, or pay down debt that helps the economy. You cannot seem to grasp that reality.

    It really is hard dealing with people like you so entrenched in your own ideology that you cannot see how keeping more of your own money affects you and benefits the economy.

    Govt. spending has done a great job, hasn't it, we have a 17. 6 trillion dollar debt and pay out 250 billion a year in debt service. That is total bs.

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

    Quote Originally Posted by Conservative View Post
    People living during the times paid with the dollars they received during the times so to say that the 5.2 trillion dollar economy at the end of the Reagan term equates to 8.6 trillion now does what? Reagan doubled the economy with the dollar value during the time. Obama is generating numbers today with the dollars of today. What exactly is your point? What purpose does it serve claiming the 5.2 trillion dollar GDP which grew from 2.6 trillion isn't a success? Tell me that winning 49 out of 50 states in 1984 doesn't matter?

    You don't seem to understand leadership at all or what it takes to drive a Private sector economy. You and Obama are two of a kind.
    So you are saying chained dollars are a liberal conspiracy???
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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

    Quote Originally Posted by MTAtech View Post
    It's clear that you don't understand what "real" and "chained" mean. They are a method to adjust money to take into account inflation. As an example, a worker in 1935 might have earned $20 per week. In 1990, a worker might have earned $190 per week. Does that mean the 1990 worker is 9.5 times richer than the 1935 worker? No. Adjusted for inflation they earned the same amount.

    Adjusting for inflation is a standard in both finance and economics. Your ignorance of this is breathtaking.
    Understand completely, doesn't change the fact that the money generated in the 80's or as you pointed out in the 30's is in 80's and 30's dollars both in revenue and expenses. Reagan took an economy from 2.6 trillion to 5.2 trillion in 8 years. Bush took an economy from 10 trillion to 14.4 trillion in 8 years, Obama has taken a 14.4 trillion dollar economy to 16.5 trillion. Reagan debt was 1.7 trillion on that 5.2 trillion dollar economy, Bush debt was 10.6 trillion on a 14.4 trillion economy. Obama's 16.5 trillion dollar economy is on a 17.6 trillion debt. you tell me about inflation and results?

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

    Quote Originally Posted by Montecresto View Post
    And the ND was tripled, which is fine if you don't mind Obama doubling it I suppose. Our economy crashed the last year or so of the Bush administration, we'd be where we are now no matter who is in the WH.
    Tripling the debt to 2.6 trillion dollars and creating 17 million jobs along with doubling GDP is a pretty good use of money in a 5.2 trillion dollar economy. What percentage of GDP is that 2.6 trillion vs. what it is today?

    Our economy had a lot of help in crashing. The problem is Obama said he had the answers, he ran for the job and now he is running from the results he has generated.

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

    Quote Originally Posted by Khayembii Communique View Post
    So you are saying chained dollars are a liberal conspiracy???
    Not at all, just irrelevant based upon the times and the results generated. They may make you feel better about Obama but I suggest you apply the same standards to Obama and you will see the results are a disaster.

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

    Quote Originally Posted by Conservative View Post
    Not at all, just irrelevant based upon the times and the results generated. They may make you feel better about Obama but I suggest you apply the same standards to Obama and you will see the results are a disaster.
    If I apply the same standards to Obama and see that the results are a disaster, how would that make me feel better about Obama?
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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

    Quote Originally Posted by Khayembii Communique View Post
    If I apply the same standards to Obama and see that the results are a disaster, how would that make me feel better about Obama?
    They won't be better thus there is nothing you can do to make me feel better about Obama who is nothing more than a campaigner empty suit without any leadership skills. Listen to the rhetoric and tell me who that motivates. He promotes division, gloom and doom, and sets a very poor example for anyone else to follow

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

    Quote Originally Posted by Conservative View Post
    Right, and of course there are no resources in California or along the East Coast. It is very easy to show what you are unwilling to accept, red states have a growing population, growing job market and a growing GDP. What is wrong with people like you, jealousy trumps reality. Steal shamelessly and you could create a Red state economy in your blue state
    Ahem, employment in California is up 3.6 percent in the past 18 months, compared with a national average of 2.8 percent and, yes, the budget is back in surplus. I expect no soul-searching among you prophets of California doom, asking why you were so wrong? Nah.
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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

    Quote Originally Posted by Conservative View Post
    Understand completely, doesn't change the fact that the money generated in the 80's or as you pointed out in the 30's is in 80's and 30's dollars both in revenue and expenses. Reagan took an economy from 2.6 trillion to 5.2 trillion in 8 years. Bush took an economy from 10 trillion to 14.4 trillion in 8 years, Obama has taken a 14.4 trillion dollar economy to 16.5 trillion. Reagan debt was 1.7 trillion on that 5.2 trillion dollar economy, Bush debt was 10.6 trillion on a 14.4 trillion economy. Obama's 16.5 trillion dollar economy is on a 17.6 trillion debt. you tell me about inflation and results?
    Correction, when Reagan took office, GDP was $3.2 trillion not $2.6 trillion. Thus, he did not double GDP.

    Seems like you skipped right over Clinton and Bush I. I am sure that was purely accidental.

    Let's see (we'll use your unadjusted for GDP figures:

    Clinton: $6.4 trillion to $10.4 trillion (+62.5%)


    Bush I:
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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