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Thread: Economy grows for third straight quarter

  1. #11
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    Re: Economy grows for third straight quarter

    Anyone recall the good news that came out about the economy 2002-2007, which was all shot down by Democrats/leftists for whatever reason they could find?

    Where are those Democrats/leftist nay-sayers now?

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    Re: Economy grows for third straight quarter

    Quote Originally Posted by Goobieman View Post
    Anyone recall the good news that came out about the economy 2002-2007, which was all shot down by Democrats/leftists for whatever reason they could find?

    Where are those Democrats/leftist nay-sayers now?
    Right here

    Saying this is not a real recovery but one funded by government debt.
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    Re: Economy grows for third straight quarter

    Quote Originally Posted by Goobieman View Post
    Anyone recall the good news that came out about the economy 2002-2007, which was all shot down by Democrats/leftists for whatever reason they could find?

    Where are those Democrats/leftist nay-sayers now?
    Ahh.... Nothing like the partisans to politicize economic growth.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
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    Re: Economy grows for third straight quarter

    Quote Originally Posted by Lord Tammerlain View Post
    Right here

    Saying this is not a real recovery but one funded by government debt.
    It's pretty much the same here. Besides, growth isn't as important as unemployment during big economic downturns such as this. Growth can be spurred by getting banks back and Wallstreet going, but that doesn't mean the common person has benefited. Unemployment is a better indicator of that (after all, the Fed's job is to balance unemployment and inflation, not growth and inflation).

    Since we've done nothing real to fix the problem or get us out of the depression, I wouldn't put much faith in this bump to be much of anything.
    You know the time is right to take control, we gotta take offense against the status quo

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    Re: Economy grows for third straight quarter

    Quote Originally Posted by Lord Tammerlain View Post
    Generally the issues that caused the economic crisis still exist

    The current wave of home foreclosures has not been worked through, the next is coming, along with a commercial wave. Secondly government spending at the state and local levels are being constrained and will lead to cut backs very soon (real ones not accounting tricks)

    Pretty soon the UI benifits that have been extended for a long time, will stop, leading to a decline in consumer spending, and a few more job loss's. And more people unable to pay their debts.

    Basically the excess's of the past have not yet been accounted for either in having the debts paid off or written off. Untill the bad debts are taken care of one way or another the economy will not be able to have healthy sustainable growth, The current growth is not healthy or sustainable as it is being funded by government debt
    The difference between now and 2007-2008 is that banks have the "cash" necessary to whether the storm. Do i believe there could be set backs? Of course, but i do not believe the foreclosures that emerge this year will be able to force short term interbank lending rates to third quarter 2008 levels.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Economy grows for third straight quarter

    Quote Originally Posted by Ikari View Post
    It's pretty much the same here. Besides, growth isn't as important as unemployment during big economic downturns such as this. Growth can be spurred by getting banks back and Wallstreet going, but that doesn't mean the common person has benefited. Unemployment is a better indicator of that (after all, the Fed's job is to balance unemployment and inflation, not growth and inflation).

    Since we've done nothing real to fix the problem or get us out of the depression, I wouldn't put much faith in this bump to be much of anything.
    And what do you view the problem to be?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Economy grows for third straight quarter

    Quote Originally Posted by Goldenboy219 View Post
    The difference between now and 2007-2008 is that banks have the "cash" necessary to whether the storm. Do i believe there could be set backs? Of course, but i do not believe the foreclosures that emerge this year will be able to force short term interbank lending rates to third quarter 2008 levels.
    I've been hearing lately that we're in a liquidity trap, so to speak.
    No one wants to borrow and there are higher lender requirements.

    I know of at least one bank paying people to withdraw funds.
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    Re: Economy grows for third straight quarter

    Quote Originally Posted by Lord Tammerlain View Post
    Right here

    Saying this is not a real recovery but one funded by government debt.
    Yea you!
    There's one down, so many others to go.

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    Re: Economy grows for third straight quarter

    Quote Originally Posted by Goldenboy219 View Post
    And what do you view the problem to be?
    Primarily lack of regulation is what drove the system to collapse in the first place. You have to fix that. After the breaking, it was further exacerbated by taking our money and giving it to all the people who had just broken the system. Thus rewarding their behavior for having done so in the first place.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

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    Re: Economy grows for third straight quarter

    Quote Originally Posted by megaprogman View Post
    I agree, none of this matters if people don't have jobs available to them.
    Even that great orator the USA answer to God admitted this very point, so why are all you guys getting upset?

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