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Just For The Libs...............

A

Anonymous

Guest
Actually Steve thats not the one I agree with... :wink: :p
I think this one fits closer to the best way to describe a recession:

"a significant decline in economic activity spread across the economy, lasting more than a few months."

And I believe we are now in a case of staglation, which most economists think is more dangerous and worse than recession- and will be much more difficult to bring under control....

Stagflation, a portmanteau of the words stagnation and inflation, is a macroeconomics term used to describe a period of inflation combined with stagnation (that is, slow economic growth and rising unemployment, possibly including recession).

We easily meet these standards:
rising inflation- nearing 10% when you add in all factors including gas, food, heating costs, etc. etc.
slow economic growth
rising unemployment
stagnating wages- for several years now
devaluation of the dollar
devaluation of the stock market/investment money/corporate income/national worth
devluation of property values and net worth
 

Steve

Well-known member
Oldtimer said:
Actually Steve thats not the one I agree with... :wink: :p
I think this one fits closer to the best way to describe a recession:

"a significant decline in economic activity spread across the economy, lasting more than a few months."

And I believe we are now in a case of staglation, which most economists think is more dangerous and worse than recession- and will be much more difficult to bring under control....

Stagflation, a portmanteau of the words stagnation and inflation, is a macroeconomics term used to describe a period of inflation combined with stagnation (that is, slow economic growth and rising unemployment, possibly including recession).

We easily meet these standards:
rising inflation- nearing 10% when you add in all factors including gas, food, heating costs, etc. etc.
slow economic growth
rising unemployment
stagnating wages- for several years now
devaluation of the dollar
devaluation of the stock market/investment money/corporate income/national worth
devluation of property values and net worth

You don't like the answer so you change the question?
 

schnurrbart

Well-known member
Steve said:
OldTimer
a Recession is a decline in any country's Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year.

"Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 0.6 percent in the fourth quarter of 2007, according to preliminary estimates released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 4.9 percent."
gdp_large.gif


so even by your definition, which I agree with.. we are not in a recession..
But if you add the first 2 months of the first qt of 08 are you not now running at 5 straight months of decline? I think it will get worse before it gets better. I really don't care what they call it. When diesel fuel jumps 25 cents the day after a rather small refinery in TX blows up and gasoline prices have gone up 12 cents in less than a week, something is wrong. Exxon reports the highest ever profit not just their company but the highest of any company and gas prices are going up, something is wrong with that picture. A dozen eggs is now almost $3. Milk is over $3. Cattle prices are going down and processed meat is going up. I got a $7 raise in SS, a $15 raise on my army retirement and about $30 on my Post office retirement and my cost of living went up a couple hundred. Makes sense to me so you can call it anything you want but we still got trouble here in River City.
 

Faster horses

Well-known member
Wow, schnurrbart, you get a lot of government retirement, don't you?
Not that I don't think you should or anything...especially the army retirement...but it's nice to know where some of our tax dollars are going.
 

Steve

Well-known member
Schnurrbart
But if you add the first 2 months of the first qt of 08 are you not now running at 5 straight months of decline?

But that is not true nor the definition.. the last Quarter of 07 was still a slight increase..
so you can't count those three months as a decline if it factually increased..

According to numerous sources I checked, 4th quarter 07 was still listed as an increase in GDP... had you read the post and the graph correctly you have seen it is still an increase in the growth of the GDP...

So as of today... even if in your opinion you call the first two months of the first quarter of 08 a decline (with out factual base) ,.. we are still 4 months of decline short to call it a recession...

If you would like the president of the United States to lie, and rely on opinion, then he should have lied and said we are in a recession...

But if you want President Bush to say the truth,..based on facts.. "we are not in a recession" based on the definition given by Old Timer.. and accepted by most of the educated world..
 

Mike

Well-known member
Here we have Obama saying the NIE had enough red flags to keep some members of Congress to vote against it, yet the resident Libs here are saying the NIE was skewed. You can't have it both ways.......... :roll:
_____________________________________________________
From NBC/NJ's Aswini Anburajan
BEAUFORT, SC. -- Obama reprised his attacks on the war, saying Clinton didn't read the National Intelligence Estimate, hasn't apologized for her vote on the war and that leadership is about judgment and learning from mistakes

These attacks aren't new but significant when put in context of the radio ad out here as well, in which an announcer says Hillary Clinton will say anything to get elected. And he also now has no issues with using her name

“As a candidate I know I'm running to be commander in chief,” Obama said. “To ensure our security and keep the sacred trust with those we serve. There is no responsibility I take more seriously and no judgment more important than to put our troops in harm’s way. … I will act in proper regard for the costs and consequence of actions based on the advice of military commanders and a careful review of the intelligence.

On war: “There are patriots who were against it and patriots who supported it. I have been open about my opposition to this war, but one of my opponents in this race, Senator Clinton, has, I believe, tried to rewrite history. She voted for a resolution and I quote: ‘A resolution to authorize the cause of United States armed forces against Iraq.’ Now she's saying she wasn't really voting for war. She cast her vote after failing to read the National Intelligence estimates on Iraq, a report that raised enough doubts that the majority of Democratic senators who read it voted against the war.

“We need more accountability in our leaders. You can’t undo a vote for war just because a war stops being popular. Pres bush has used that authority to keep our troops in Iraq to this day. This is not just about the past it’s about the future. Voters need to judge us about the judgments we've made and the lessons we've learned.

“Sen Clinton has not said her vote was a mistake. She has simply blamed the civilian and military leaders who carried out the policy she authorized. We don't know why Iraq met the threshold for war; how can we know what means the threshold in the future?

“When I am president the buck will stop at the oval office.”
 

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