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Thread: Economy Grows 5.7 Percent; Chicago PMI Jumps

  1. #11
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    Re: Economy Grows 5.7 Percent; Chicago PMI Jumps

    Nobody tell Maximus Zeebra. He's so determined to predict failure and turn everything into America's ultimate doom he may just slash his wrists.
    Last edited by MSgt; 01-30-10 at 01:16 AM.

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    Re: Economy Grows 5.7 Percent; Chicago PMI Jumps

    Quote Originally Posted by MSgt View Post
    Nobody tell Maximus Zeebra. He's so determined to predict failure and turn everything into America's ultimate doom he may just slash his wrists.
    Well this was only the 4th quarter... as a whole year GDP fell 2.7% so in a way Maximus Zeebra did have a point.
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    Re: Economy Grows 5.7 Percent; Chicago PMI Jumps

    Quote Originally Posted by PeteEU View Post
    So who's fault is this? Do we blame Bush or Obama?

    Jokes aside.. nice numbers.
    Actually, I blame both Republicans and Democrats. Ending the Glass Steagal protections, which have protected markets ever since the Great Depression, was sponsored by Phil Gramm, a Republican, supported overwhelmingly by Democrats and Republicans in both houses, and signed into law by President Clinton, a Democrat. The enactment of this law is a direct cause for the crapstorm that followed a decade later, and there is plenty of blame to go around on both sides of the aisle.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: Economy Grows 5.7 Percent; Chicago PMI Jumps

    Quote Originally Posted by danarhea View Post
    Actually, I blame both Republicans and Democrats. Ending the Glass Steagal protections, which have protected markets ever since the Great Depression, was sponsored by Phil Gramm, a Republican, supported overwhelmingly by Democrats and Republicans in both houses, and signed into law by President Clinton, a Democrat. The enactment of this law is a direct cause for the crapstorm that followed a decade later, and there is plenty of blame to go around on both sides of the aisle.
    People have argued that this enabled the crisis, but I'm not sure anyone could argue that it actually caused it.

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    Re: Economy Grows 5.7 Percent; Chicago PMI Jumps

    Quote Originally Posted by PeteEU View Post
    Well this was only the 4th quarter... as a whole year GDP fell 2.7% so in a way Maximus Zeebra did have a point.
    What...the end of America? "In a way" is always the saving grace isn't it? I would think the world would learn after everything we have accomplished in history and persevered through that betting against us is a bad bet.

    There will be more quarters and more years and more decades. America will still be America and still "big brother."
    Last edited by MSgt; 01-31-10 at 03:48 PM.

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    Re: Economy Grows 5.7 Percent; Chicago PMI Jumps

    Quote Originally Posted by Dav View Post
    People have argued that this enabled the crisis, but I'm not sure anyone could argue that it actually caused it.
    Oh I believe that if we had to go back to direct decisions these would be it.

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    Re: Economy Grows 5.7 Percent; Chicago PMI Jumps

    Quote Originally Posted by danarhea View Post
    Actually, I blame both Republicans and Democrats. Ending the Glass Steagal protections, which have protected markets ever since the Great Depression, was sponsored by Phil Gramm, a Republican, supported overwhelmingly by Democrats and Republicans in both houses, and signed into law by President Clinton, a Democrat. The enactment of this law is a direct cause for the crapstorm that followed a decade later, and there is plenty of blame to go around on both sides of the aisle.
    To simplistic. There were many causes for the crash, not sure if this one really ranks up there. Even the new Obama/ Volker plan does not reinstate Glass/ Steagall.

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