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

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

Bush made a proposal, it was rejected by Congress. Continuing resolutions were passed by Congress at 2008 spending levels and income levels. There was no 2009 budget until Obama signed it in March 2009. You are having a problem admitting that you are wrong, the question is why?

So Bush served for 8 years, yet you only hold him accountable for 7 years of budgets. I guess if Hillary fails to get elected, you will just add that extra year to the Obama's talley, crediting him with 9 years of budgets during his 8 years of service. Yea, whatever.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

So Bush served for 8 years, yet you only hold him accountable for 7 years of budgets. Yea, whatever.

Yeah, whatever, you cannot admit you are wrong. Bush budget was not passed by Congress and you hold him responsible for the proposal claiming that the proposal caused the deficit? And you claim you aren't a liberal? Wow
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Yeah, whatever, you cannot admit you are wrong. Bush budget was not passed by Congress and you hold him responsible for the proposal claiming that the proposal caused the deficit? And you claim you aren't a liberal? Wow

What I am saying is that it is rediculous to claim that Bush only had 7 budget years when he served 8 years as POTUS.
One doesn't have to be a liberal to see that you are a partisan hack.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

The fact is this is the worst recovery ever from a recession and it has everything to do with the lack of leadership by someone who never led anything.

Actually, it really has everything to do with the fact there should not have been a recovery when it happened. The central banks and governments of the world just showered the Earth with money to prevent a rapid collapse of the financial system. It was a crisis delayed rather than a crisis averted. Honestly, an investment bank with nearly $640 billion in assets collapsed in a month where two quasi-governmental mortgage insurers with trillions of dollars in assets were taken over by the government to prevent collapse and a trillion-dollar insurance company was pushed to the brink of collapse as well. By all rights most of the major banking institutions should have failed and a lot of the other large corporations as well. Anyone who honestly thinks papering over the losses actually saved the economy is being delusional. Eventually, the junk is going to have to work its way out of the system.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

I'm not a liberal, so I can answer that question...

2009 United States federal budget - Wikipedia, the free encyclopedia



So sure enough, Bush didn't sign it, but he did propose it. It was his concept, his baby. Obama did nothing but deliver it.

Which is part of the reason that I constantly point out that there is virtually no difference between our two major parties. The obama policies are 99% the same as the Bush policies.

Huh ?

Why would he threaten to Veto " his baby" ?

FY 2009 was Pelosi's budget, written for a Democrat win in 2008.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

The central banks and governments of the world just showered the Earth with money to prevent a rapid collapse of the financial system. It was a crisis delayed rather than a crisis averted.

No responsible central bank or government deliberately allows its financial system to collapse and a long-duration Depression with possible 20%-30% unemployment to unfold if it has the capacity to try to prevent such an outcome.

On the point of the mortgage-related "junk," some of those securities have regained quite a bit of value since they hit bottom during and just after the financial crisis. Not surprisingly, the Fed has actually making a profit on some of the instruments it acquired during its emergency measures. Those profits are returned to the U.S. Treasury.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

No responsible central bank or government deliberately allows its financial system to collapse and a long-duration Depression with possible 20%-30% unemployment to unfold if it has the capacity to try to prevent such an outcome.

On the point of the mortgage-related "junk," some of those securities have regained quite a bit of value since they hit bottom during and just after the financial crisis. Not surprisingly, the Fed has actually making a profit on some of the instruments it acquired during its emergency measures. Those profits are returned to the U.S. Treasury.

The FED has NOT made a " Profit " from buying Fannie and Freddies trash securities.

Thats ridiculous.

They are on target to expose themselves to 1.5 Trillion dollars in the GSEs SubPrime debt.

Let me know when they've actually received ALL their principle back plus profit.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

The FED has NOT made a " Profit " from buying Fannie and Freddies trash securities.

Thats ridiculous.

They are on target to expose themselves to 1.5 Trillion dollars in the GSEs SubPrime debt.

Let me know when they've actually received ALL their principle back plus profit.

The Fed has not unloaded its entire portfolio. Notice that I referred to "some" of the securities it acquired. The reference to profit refers only to the limited number of securities e.g., some of those associated with the Maiden Lane (Bear Stearns) vehicle, that it has sold off. The process of reducing its balance sheet will take many more years, as much faster action would create a fire sale-type situation, which would reduce their prices. The Fed is just in the very early stages of that process. Once the tapering process ends and if economic conditions permit, it could begin to accelerate its balance sheet reduction.

From the Fed:

2012:

The Federal Reserve Banks' 2012 estimated net income of $91.0 billion was derived primarily from $80.5 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities). Additional earnings were derived primarily from net realized gains on the sale of U.S. Treasury securities of $13.3 billion, net income of $6.1 billion attributable to the consolidated limited liability companies that were created in response to the financial crisis, and income from services of $450 million, offset by losses of $1.1 billion that result from the daily revaluation of foreign currency denominated asset holdings at current exchange rates. The Reserve Banks had interest expense of $3.9 billion on depository institutions' reserve balances.

http://www.federalreserve.gov/newsevents/press/other/20130110a.htm

2013:

The Federal Reserve Banks' 2013 estimated net income of $79.5 billion was derived primarily from $90.4 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities).

http://www.federalreserve.gov/newsevents/press/other/20140110a.htm
 
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Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

What I am saying is that it is rediculous to claim that Bush only had 7 budget years when he served 8 years as POTUS.
One doesn't have to be a liberal to see that you are a partisan hack.

Take a civics class and stop making a fool of yourself. Bush had 8 budget years but only 7 budgets passed. Obama knew the low information voter would buy the claim that it was the Bush deficit when the reality is the Bush budget was never signed or passed by Congress. You obviously believe that if someone proposes spending of your money but that spending request is never passed by you then any deficit you generate is the person with the proposal, never mind they never spent the money. Makes it easy for you to claim it was their deficit, doesn't it?
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

The Fed has not unloaded its entire portfolio. Notice that I referred to "some" of the securities it acquired. The reference to profit refers only to the limited number of securities e.g., some of those associated with the Maiden Lane (Bear Stearns) vehicle, that it has sold off. The process of reducing its balance sheet will take many more years, as much faster action would create a fire sale-type situation, which would reduce their prices. The Fed is just in the very early stages of that process. Once the tapering process ends and if economic conditions permit, it could begin to accelerate its balance sheet reduction.

From the Fed:

2012:

The Federal Reserve Banks' 2012 estimated net income of $91.0 billion was derived primarily from $80.5 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities). Additional earnings were derived primarily from net realized gains on the sale of U.S. Treasury securities of $13.3 billion, net income of $6.1 billion attributable to the consolidated limited liability companies that were created in response to the financial crisis, and income from services of $450 million, offset by losses of $1.1 billion that result from the daily revaluation of foreign currency denominated asset holdings at current exchange rates. The Reserve Banks had interest expense of $3.9 billion on depository institutions' reserve balances.

FRB: Press Release--Reserve Bank income and expense data and transfers to the Treasury for 2012--January 10, 2013

2013:

The Federal Reserve Banks' 2013 estimated net income of $79.5 billion was derived primarily from $90.4 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities).

FRB: Press Release--Reserve Bank income and expense data and transfers to the Treasury for 2013--January 10, 2014

Of-course they haven't disclosed their entire portfolio.

They NEVER will.

They're buying hundreds of billions of dollars of Fannies and Freddies trash debt in a effort to cover for the massive Democrat fed and defended corruption that went on at the two GSEs.

And they may have recouped a fraction of their losses but by no means have they made a " profit ".
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Of-course they haven't disclosed their entire portfolio.

They NEVER will.

They're buying hundreds of billions of dollars of Fannies and Freddies trash debt in a effort to cover for the massive Democrat fed and defended corruption that went on at the two GSEs.

And they may have recouped a fraction of their losses but by no means have they made a " profit ".

Profits or losses are not realized until securities are sold. Hence, the Fed has not counted profits or losses for the securities it continues to hold.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Profits or losses are not realized until securities are sold. Hence, the Fed has not counted profits or losses for the securities it continues to hold.


Oh BS

In reference to their decision to expose themselves to 1. 5 Trillion dollars in GSE debt, the FED has not made a " Profit ".

Nor will they.

They're buying trash and they know it.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Oh BS

In reference to their decision to expose themselves to 1. 5 Trillion dollars in GSE debt, the FED has not made a " Profit ".

Nor will they.

They're buying trash and they know it.

The Fed's reports on its annual income indicate that it has made profits, in part, from "federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities."
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

The Fed's reports on its annual income indicate that it has made profits, in part, from "federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities."


Look, all you're going to do is attempt to mitigate away the failures of this administration and their policies.

Its all you've ever done.

I'm more interested in the truth, a comprehensive evaluation of our economic situation and the effectiveness of policies which include QE.

There's another poster who continues to post ridiculous threads about Fannie and Freddies recent " profits ", as they sit on Trillions in subprime debt.

He also desperately tries to define down the entirety of the Subprime mortgage crisis into 2 years, starting in 2004 and ending in 2006.

You're no different.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Look, all you're going to do is attempt to mitigate away the failures of this administration and their policies.

Again, I have to note that monetary policy and fiscal policy are not the same thing and that the Fed and Obama Administration are not synonymous. The Fed is responsible for monetary policy. The President is responsible for fiscal policy. The Fed's successes and failures cannot be attributed to the Administration.

The discussion of the nation's fiscal (tax and spending) and regulatory policy are separate matters from the Fed's monetary policy, extraordinary facilities e.g., TAF, and QE. The distinction is important.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Take a civics class and stop making a fool of yourself. Bush had 8 budget years but only 7 budgets passed. Obama knew the low information voter would buy the claim that it was the Bush deficit when the reality is the Bush budget was never signed or passed by Congress. You obviously believe that if someone proposes spending of your money but that as spending request is never passed by you then any deficit you generate is the person with the proposal, never mind they never spent the money. Makes it easy for you to claim it was their deficit, doesn't it?

So that will leave Obama with 9 budget years in his 8 years as POTUS.

If I need to take a civics class, you need to take a class in elementary school mathematics.

But wait, weren't there like 4 years when no budget was ever passed by congress and not signed by Obama? So should we not blame Obama for those years just because he didn't sign the budgets? Let's just pretend that just because a president doesn't sign something, it didn't exist.
 
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Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Trade deficit narrowed to $4.4 billion in June.

" "Recall that the -2.9% annualized drop in Q1 real GDP was primarily due to a plunge in net exports, which subtracted 150 bps from overall output and a slower pace of inventory accumulation, which lopped another 170 bps off of growth," Deutsche Bank economists wrote ahead of the data release."

Read more: May Trade Balance Narrows To $44.4 Billion - Business Insider
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

So that will leave Obama with 9 budget years in his 8 years as POTUS.

If I need to take a civics class, you need to take a class in elementary school mathematics.

But wait, weren't there like 4 years when no budget was ever passed by congress and not signed by Obama? So should we not blame Obama for those years just because he didn't sign the budgets? Let's just pretend that just because a president doesn't sign something, it didn't exist.

Possibly yes, that is if his fiscal year 2017 budget is passed by Congress and has his signature on it. You don't seem to understand continuing resolutions and who signed them and who actually spent the money. Please tell me how Bush spent the money in fiscal year in 2009 from TX? For someone who claims they didn't vote for Obama you sure defend him but all that does is show your ignorance of civics and economics.

Please, please take a civics class so you stop making a fool of yourself. Proposals don't authorize spending, they request it. Signed budgets authorize spending
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

As noted elsewhere:

Unemployment drops to 6.1%, added 288,000 jobs in June, well above expectations.

Almost all of it is private sector jobs (281,000).

It's increasingly likely that Q1's drop was an anomaly, a result of unusual weather and a drop in exports.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Trade deficit narrowed to $4.4 billion in June.

" "Recall that the -2.9% annualized drop in Q1 real GDP was primarily due to a plunge in net exports, which subtracted 150 bps from overall output and a slower pace of inventory accumulation, which lopped another 170 bps off of growth," Deutsche Bank economists wrote ahead of the data release."

Read more: May Trade Balance Narrows To $44.4 Billion - Business Insider

Do you realize that a trade deficit still is a reduction in GDP. Do you know what the four components of GDP are and what they contribute?
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

As noted elsewhere:

Unemployment drops to 6.1%, added 288,000 jobs in June, well above expectations.

Almost all of it is private sector jobs (281,000).

It's increasingly likely that Q1's drop was an anomaly, a result of unusual weather and a drop in exports.

Congratulations, Barack Obama, there were only 10 million unemployed, another 700,000 discouraged and more part time employees in June. Great job!! Amazing how we are now 7 years after the beginning of the recession and still there are fewer people employed than when the recession began. Liberals have such low expectations.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Do you realize that a trade deficit still is a reduction in GDP. Do you know what the four components of GDP are and what they contribute?

For 2014 Q1:

Personal Consumption Expenditures: 68.6% of Real GDP
Gross Private Domestic Investment: 16.2% of Real GDP
Net Exports: -2.8% of Real GDP
Government: 18.1% of Real GDP


It should also be noted that trade (exports + imports) accounted for 28.3% of Real GDP.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

For 2014 Q1:

Personal Consumption Expenditures: 68.6% of Real GDP
Gross Private Domestic Investment: 16.2% of Real GDP
Net Exports: -2.8% of Real GDP
Government: 18.1% of Real GDP


It should also be noted that trade (exports + imports) accounted for 28.3% of Real GDP.


Do we pay debt service on real or nominal debt? Love how liberals love using "real" inflation adjusted numbers when it seems to suit them.

Thanks for posting the four components, maybe that will educate some here who will note that the reduction in the trade deficit still had a negative affect on GDP and that personal consumption is the number one GDP component meaning that people keeping more of what they earn has a bigger affect on GDP Than govt. spending
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Congratulations, Barack Obama, there were only 10 million unemployed, another 700,000 discouraged and more part time employees in June. Great job!! Amazing how we are now 7 years after the beginning of the recession and still there are fewer people employed than when the recession began. Liberals have such low expectations.

I will take part time jobs over no jobs any day of the week.

Where did you get the discouraged figures from? Are those discouraged workers or are those baby boomers who are retiring?
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

I will take part time jobs over no jobs any day of the week.

Where did you get the discouraged figures from? Are those discouraged workers or are those baby boomers who are retiring?

Good, because that is what you are getting in this booming Obama economy. Discouraged workers have nothing to do with retirees. Just another subject you know little about but profess to be an expert on. You simply cannot admit you are wrong on any topic yet your posts prove you know so little.
 
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