Stinger

Second quarter GDP +1.9%.

That's PLUS 1.9%.

So why does the left keep trying to talk us into a recession?

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Think for myself

Um, not sure if you are aware of this, but that is not keeping up with inflation or the rising price of goods.

Free Preview - WSJ.com

Price inflation gauges were mixed in the second quarter. The key price index for personal consumption expenditures rose by 4.2% after increasing 3.6% in the first quarter. The PCE price gauge excluding food and energy grew 2.1%, after increasing 2.3% in the first quarter.

Ignore lists are for those that are wrong, know they are wrong, and prefer to keep being wrong without the nuisance of being told they are wrong.

michaelr

Some people will not understand what is going on, they look at the numbers the government spits out and then they dance on the streets. The truth about the GDP is oil prices have kept it up, that and spending for the wars. Those two things are unsustainable, bur hey lets rejoice and kiss Bush's ass.

Stinger

And some people are so desperate to have a recession just so they can kick Bush's butt about it they engage in fallacious arguments.

michaelr

You had better wake up and smell the facts. Look this country is going into a depression, when it happens you will either blame the dems or deny it. Both are wrong, well sort of the dems have done nothing to curtail BUSH'S spending and did nothing to correct BUSH'S monetary policy. They allowed this dirt bag to print money like it was going out of style, and borrow like theres no tomorrow, but this is on your boy Bush. Get used to it he is a fucking unnatural disaster.

Think for myself

Now that is some funny shit!!

When GDP growth is outpaced by rising costs, it really is not a good thing.

Ignore lists are for those that are wrong, know they are wrong, and prefer to keep being wrong without the nuisance of being told they are wrong.

Stinger

More of your wishful thinking?

Presidents don't control monetary policy and don't print money.

Tell me will you ever grow out of your childish language?

anonnymous

U.S. Economy Grew Less Than Forecast Last Quarter (Update3)

July 31 (Bloomberg)

Declines in growth in the revisions are reinforcing the recession signals sent by the loss of jobs so far this year. Still, a downturn is unlikely to be officially declared for months to come.


The National Bureau of Economic Research, the Cambridge, Massachusetts-based arbiter of economic cycles, defines a recession as a ``significant'' decrease in activity over a sustained period of time. The declines would be visible in GDP, payrolls, production, sales and incomes. The NBER usually declares a recession six to 18 months after it begins.
A Labor Department report tomorrow may show payrolls declined by 75,000 in July, bringing total job losses so far this year to over 500,000.



The 1.9% will be revised down in a month or 2. The 1.9% growth does not leave any room for more bank closers. a default in the hedge fund market, a default in the derivatives market, or the continued slump in the housing market, which at this point seems to be accelerating. Long term lending is drying up,which will cause massive layoffs this fall and into next year. Plus we have the specter of stagflation hanging over our heads, which could become hyper if the Fed continues to pump money into the economy through various bail outs. Believe me that 1.9% is dismal to say the least.

Right now I'm having amnesia and deja-vu at the same time.

I think I've forgotten this before.

michaelr

mjdsr

There was a good article in the WSJ recently if anyone cares to read it.
Economists Weigh Possibility of a Recession Amid Economic Growth - WSJ.com

We are a nation of consumers, and people just don't have the money to spend right now. While we may not technically be in a recession, we are on the brink of one. The government wants so badly for us not to be in one, that they are interfering, and this will only make things worse. Giving out stimulus checks to boost spending isn't going to miraculously fix things. Bailing everyone out is going to contribute to the problems in the long run...not help them. We cannot just socialize our losses. Unless a new scam is devised, people will cut back in their spending. This isn't good considering 72% of our GPD is based on consumer spending.

A growing GDP does not necessarily mean that the economy has actually grown. Inflation is unreported and the bubble will soon burst. We have had a false increase in the amount of money because of fractional reserve lending. People have been and are living off of credit. Banks are failing, home prices are falling, jobs are on the decline, small businesses are having a hard time getting loans, and our dollar is in the tank.

Inflation will not solve this, and no amount of taxation will bring us to prosperity. Something big is about to happen, and we can thank our government for that.
Something Big is Happening