What recession? - Page 2

michaelr · 07-31-2008, 11:01 AM

When I read articles like this I lose my ability to believe anything coming from this administration. They are no more than a pack of liars...

Richard Viguerie: Bush White House Hides True Scope of Federal Deficit

Think for myself · 07-31-2008, 11:04 AM

Quote:

Originally Posted by michaelr

Damn, and I just greened you.

michaelr · 07-31-2008, 12:30 PM

6% US inflation is coming : Economist

And these are fudged numbers. So no recession huh?

Stinger · 07-31-2008, 01:15 PM

Quote:

Originally Posted by michaelr

6% US inflation is coming : Economist

And these are fudged numbers. So no recession huh?

Just can't stand it can you. The inflation number has nothing to do with whether we are in a recession of not.

As my local paper noted this morning

"It's impossible to put that $482 billion into a meaningful perspective without considering the size of the economy. Adjusted for inflation and total economic output, the predicted 2009 deficit doesn't even rank in the top 10. Next year's deficit is projected to equal 3.3 percent of the gross domestic product. Eleven times in the past 25 years, the deficit has topped 3.3 percent of GDP.
In 1983, when the nation was slowly emerging from a deep recession, the deficit equaled 6 percent of GDP.
So, the 2009 deficit, when placed in the proper context, won't be the largest in U.S. history ? not by a long shot...........

Currently, the nation's publicly held debt is about 37 percent of the gross domestic product. Since World War II, the debt has averaged about 43 percent of GDP.
During the 1990s, the publicly held debt hovered around 40 percent of GDP. "

You need some perspective there my friend.

michaelr · 07-31-2008, 01:19 PM

Quote:

Originally Posted by Stinger

Just can't stand it can you. The inflation number has nothing to do with whether we are in a recession of not.

As my local paper noted this morning

"It's impossible to put that $482 billion into a meaningful perspective without considering the size of the economy. Adjusted for inflation and total economic output, the predicted 2009 deficit doesn't even rank in the top 10. Next year's deficit is projected to equal 3.3 percent of the gross domestic product. Eleven times in the past 25 years, the deficit has topped 3.3 percent of GDP.
In 1983, when the nation was slowly emerging from a deep recession, the deficit equaled 6 percent of GDP.
So, the 2009 deficit, when placed in the proper context, won't be the largest in U.S. history ? not by a long shot...........

Currently, the nation's publicly held debt is about 37 percent of the gross domestic product. Since World War II, the debt has averaged about 43 percent of GDP.
During the 1990s, the publicly held debt hovered around 40 percent of GDP. "

You need some perspective there my friend.

If you paper suggested that, well I would quit my subscription yesterday. Even if it were true, which it is not, it would still be wrong, you need to add this...

Quote:

"As shocking as this deficit figure is, that's still not the true scope of our budget woes because it excludes $80 billion in war costs and $227 billion borrowed from the Social Security Trust Fund.
"The real budget deficit is therefore $789 billion.

Again here it is...

michaelr · 07-31-2008, 01:20 PM

Oh BTW that 6% figure, shit man we have been in double digit inflation for years. They just have a funny way of counting.

Think for myself · 07-31-2008, 01:22 PM

Quote:

Originally Posted by Stinger

Just can't stand it can you. The inflation number has nothing to do with whether we are in a recession of not.

Stinger, you can't say things like that, my heart almost gave out due to the incessant laughter your post caused.

michaelr · 08-01-2008, 11:05 AM

Jobless rate rises to 4-year high of 5.7 percent

Thats actually 5.7% collecting checks.

michaelr · 08-01-2008, 12:42 PM

Quote:

NEW YORK – Standard & Poor's Thursday cut ratings on all three major U.S. automakers deeper into junk status, citing expected losses due to higher gas prices and a weakening U.S. economy.

SignOnSanDiego.com > News > Business -- S&P cuts Big Three carmaker ratings lower into junk

um I wonder if this is the effect of no recession.

Goldwater · 08-01-2008, 03:57 PM

Quote:

Originally Posted by Stinger

Just can't stand it can you. The inflation number has nothing to do with whether we are in a recession You need some perspective there my friend.

The economy is bad enough recession or no, that you can say we're in a recession or we're not, I don't really care about semantics.

You claim that Democrats want a recession, the more plausible idea that there are significant economic troubles afoot. Nobody wants economic problems. Somebody has convinced you that an entire political party will put thier survival instincts aside, and be broke so Democrats seem right?

Here is what listening to a Republican on the economy is like. (It's also close to what it must feel like to be crazy)

One man tells his friend it's raining, his friend say "no!, it hasn't rained in years", that is condensed water falling from the clouds. Then the first says, "I hope we don't get wet if we go out". His friend says "Nobody is getting wet today, the weatherman forecasted sunshine"

Conclusion, call it what you want, I don't have any extra money like I did in the 90's. Made about as much them too in high tech. Now groceries like dairy, bread, double what they were 2 years ago! Gas!...how am I supposed to travel? I'm just lucky I've been to most places I wanted to go. The dollar sucks and nobody is hospitable to Americans anymore. So if I do travel I'll be broke there too, and despised. It sucks coming and going these days. I'm looking for the bright side and I see not a damn thing.