Forget Econ Stats, Do Americans Feel Economic Exhuberance or Malaise?

[EconChick]

Barack Obama bests Bill Clinton's private sector job creation record

June marks 52 straight months of private sector job growth, the longest ever on record, beating out Bill Clinton's record of 51 continuous months of private sector job growth from February 1996 to April 2000. The economy has added more than 200,000 jobs for five months in a row now, the longest such streak since 1999. In the first half of this year alone the economy has added 1.4 million jobs, another accomplishment not seen since 1999.


Barack Obama bests Bill Clinton's private sector job creation record ? The People's View

More bullshit "stats" being spun.

You know what isn't spun????? You know what number everyone knows is true? GDP. And the first quarter saw a contraction of 3 full points.

Anyone with good sense knows that 3% of a 17 trillion economy is a LARGE amount by which the economy contracted in Jan, Feb and March.

O's got a MINUS 3% happening (yes, some was weather but not enough to push into neg) while some of Reagan's quarters yielded 8%.

Let me repeat. Obama's got a MINUS 3% quarter when Reagan's quarters were as high as 8%.

Weird, you don't remember the economy shrinking 9%+ the last quarter of Dubya's term?

You'd think with a contraction of almost 3% last quarter those 'job creators' would be worried and escaping Vegas East, why aren't they?

The revision reflected a slowdown in health care spending.

Consumers returned to stores and car dealerships, companies placed more orders for equipment and manufacturing picked up as temperatures warmed, indicating the early-year setback was temporary. Combined with more job gains, such data underscore the view of Federal Reserve policy makers that the economy is improving and in less need of monetary stimulus.

The first-quarter slump is “not really reflective of fundamentals,” said Sam Coffin, an economist at UBS Securities LLC in New York and the best forecaster of GDP in the last two years, according to data compiled by Bloomberg. “For the second quarter, we’ll see some weather rebound and a return to more normal activity after that long winter.”

U.S. Economy Shrank in First Quarter by Most in Five Years - Bloomberg

That's because of the bubble...caused by BOTH parties for the umpteenth time....burst.

This minus 3% is a small amt because of weather but mostly O's SHITTY policies.

 

[Dad2three]

Ok, let's explain something here.

The overwhelming number of econ departments within universities across the United States are Keynsian Departments.

What does that mean mathematically. That means you will find an overwhelming number of people publishing in academia and the media come from that dumbass, BIG-SPENDING, debunked, corrupt-ass economic philosophy point of view when they write.

Most are so stupid they don't even know they have that bias. Some professor made them answer tests a certain way to pass so they accepted it as gospel.

You could pull up thousands of reports and articles...........and I could tell you they're all bull based on the assumptions I can tell the dumbass authors make.

It is yet another fallacy indicative of the lack of critical thinking in this country to think just because Dad2three pulls up an official looking report that it's gospel.

You've pulled up a long list of stupid ass sources on this thread. I'm sure some are stupid enough to be taken in.

I'm sure there are others that can see right through it.

Got it, Policy from Dubya didn't REALLY matter, But EVERYTHING Obama has done is the REASON the US can't climb out of the Dubya/GOP hole right?

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


WHO WAS IN CHARGE OF REGULATORS THEN?

I said both parties were to blame for the financial crisis. I've said it over and over.

You can SAY THAT ALL YOU WANT. Doesn't make it true

One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[deltex1]

Well, your post kinda looks serious so I'll give serious answers. I did acknowledge a number of times what Bush did wrong. You should go back and reread if you didn't see them.

Posting links, charts, and graphs means nothing. I could bury you with links, charts and graphs. You would miss them...just like you missed my plain-English posts admitting to Bush's contribution to the problem.

I'm trying to keep the posts short and intuitive. When I start adding the graphs, charts, and links it will be nothing but .....wait for it................dueling graphs, charts, and links. Most readers don't have the background to assess the reliability of graphs, charts, and links. Why? Because most graphs, charts, and links are biased on BOTH SIDES.

Like the Unemployment rate being 6.1%. Do you know why that's actually a misleading number? Do you know why despite the U rate dropping from 6.3 to 6.1, it's actually a sign that things are getting worse?

You don't. You look at the surface and just accept that 6.1 must be better than 6.3, because you don't have the immersion in the data to know better.

Oh yes, I've seen the superficial descriptions by liberals who have but the most limited grasp on the entire U-1 through U-6 rating descriptions. But the stats behind it are complicated. It would take a long time to explain it thoroughly.

I'm not posting to explain to partisans who already have an agenda. You people are totally gone. I know what it's like to spend 100s of hours using charts and graphs to that type. The ocean is made of bubblegum and no one's going to change their minds, damn it.

But to people with open minds with common sense, certain things resonate. Like the fact that most of middle America KNOWS the job market sucks. Yet here Liberal morons try to spin data like it doesn't.

What is funny as hell is to listen to someone like you say conservative points are debunked. While I was in undergrad and grad school, I started out as a dumbfuck, gullible, think-from-the-heart, emotional liberal that accepted all this Keynsian bullshit you libs eat up from liberal professors and media outlets ....till independent research showed how wrong it really was.

It's Keynsian BS that's debunked, not vice versa.

Oh....now I see. You'd give us some evidence, but we aren't bright enough to understand it. So....instead you just vomit bullshit thinking we are also dumb enough to buy it. Cool. You are an economist. You know stuff. So intimidating....I can barely stand it.

Most of middle America knows the job market sucks? Perhaps. But they also knew that it sucks less now than it did last year....and the year before that.....and the year before that. Things are getting better. Bottom line, bitch.

Thread fail.

Lone laugher is content with malaise as long as his EBT card is renewed and his wife keeps her job at the motel. So much for the American dream.

 

[Dad2three]

More bullshit "stats" being spun.

You know what isn't spun????? You know what number everyone knows is true? GDP. And the first quarter saw a contraction of 3 full points.

Anyone with good sense knows that 3% of a 17 trillion economy is a LARGE amount by which the economy contracted in Jan, Feb and March.

O's got a MINUS 3% happening (yes, some was weather but not enough to push into neg) while some of Reagan's quarters yielded 8%.

Let me repeat. Obama's got a MINUS 3% quarter when Reagan's quarters were as high as 8%.

Weird, you don't remember the economy shrinking 9%+ the last quarter of Dubya's term?

You'd think with a contraction of almost 3% last quarter those 'job creators' would be worried and escaping Vegas East, why aren't they?

The revision reflected a slowdown in health care spending.

Consumers returned to stores and car dealerships, companies placed more orders for equipment and manufacturing picked up as temperatures warmed, indicating the early-year setback was temporary. Combined with more job gains, such data underscore the view of Federal Reserve policy makers that the economy is improving and in less need of monetary stimulus.

The first-quarter slump is “not really reflective of fundamentals,” said Sam Coffin, an economist at UBS Securities LLC in New York and the best forecaster of GDP in the last two years, according to data compiled by Bloomberg. “For the second quarter, we’ll see some weather rebound and a return to more normal activity after that long winter.”

U.S. Economy Shrank in First Quarter by Most in Five Years - Bloomberg

That's because of the bubble...caused by BOTH parties for the umpteenth time....burst.

This minus 3% is a small amt because of weather but mostly O's SHITTY policies.

Sure, both parties were in charge of the FBI, F/F, SEC, HUD, ETC


http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[LoneLaugher]

Oh....now I see. You'd give us some evidence, but we aren't bright enough to understand it. So....instead you just vomit bullshit thinking we are also dumb enough to buy it. Cool. You are an economist. You know stuff. So intimidating....I can barely stand it.

Most of middle America knows the job market sucks? Perhaps. But they also knew that it sucks less now than it did last year....and the year before that.....and the year before that. Things are getting better. Bottom line, bitch.

Thread fail.

Lone laugher is content with malaise as long as his EBT card is renewed and his wife keeps her job at the motel. So much for the American dream.

Look at that! You know that I have a cock and balls! Very observant.

 

[LoneLaugher]

More bullshit "stats" being spun.

You know what isn't spun????? You know what number everyone knows is true? GDP. And the first quarter saw a contraction of 3 full points.

Anyone with good sense knows that 3% of a 17 trillion economy is a LARGE amount by which the economy contracted in Jan, Feb and March.

O's got a MINUS 3% happening (yes, some was weather but not enough to push into neg) while some of Reagan's quarters yielded 8%.

Let me repeat. Obama's got a MINUS 3% quarter when Reagan's quarters were as high as 8%.

Weird, you don't remember the economy shrinking 9%+ the last quarter of Dubya's term?

You'd think with a contraction of almost 3% last quarter those 'job creators' would be worried and escaping Vegas East, why aren't they?

The revision reflected a slowdown in health care spending.

Consumers returned to stores and car dealerships, companies placed more orders for equipment and manufacturing picked up as temperatures warmed, indicating the early-year setback was temporary. Combined with more job gains, such data underscore the view of Federal Reserve policy makers that the economy is improving and in less need of monetary stimulus.

The first-quarter slump is “not really reflective of fundamentals,” said Sam Coffin, an economist at UBS Securities LLC in New York and the best forecaster of GDP in the last two years, according to data compiled by Bloomberg. “For the second quarter, we’ll see some weather rebound and a return to more normal activity after that long winter.”

U.S. Economy Shrank in First Quarter by Most in Five Years - Bloomberg

That's because of the bubble...caused by BOTH parties for the umpteenth time....burst.

This minus 3% is a small amt because of weather but mostly O's SHITTY policies.

Which policies? State your case.

 

[Dad2three]

More bullshit "stats" being spun.

You know what isn't spun????? You know what number everyone knows is true? GDP. And the first quarter saw a contraction of 3 full points.

Anyone with good sense knows that 3% of a 17 trillion economy is a LARGE amount by which the economy contracted in Jan, Feb and March.

O's got a MINUS 3% happening (yes, some was weather but not enough to push into neg) while some of Reagan's quarters yielded 8%.

Let me repeat. Obama's got a MINUS 3% quarter when Reagan's quarters were as high as 8%.

Weird, you don't remember the economy shrinking 9%+ the last quarter of Dubya's term?

You'd think with a contraction of almost 3% last quarter those 'job creators' would be worried and escaping Vegas East, why aren't they?

The revision reflected a slowdown in health care spending.

Consumers returned to stores and car dealerships, companies placed more orders for equipment and manufacturing picked up as temperatures warmed, indicating the early-year setback was temporary. Combined with more job gains, such data underscore the view of Federal Reserve policy makers that the economy is improving and in less need of monetary stimulus.

The first-quarter slump is “not really reflective of fundamentals,” said Sam Coffin, an economist at UBS Securities LLC in New York and the best forecaster of GDP in the last two years, according to data compiled by Bloomberg. “For the second quarter, we’ll see some weather rebound and a return to more normal activity after that long winter.”

U.S. Economy Shrank in First Quarter by Most in Five Years - Bloomberg

That's because of the bubble...caused by BOTH parties for the umpteenth time....burst.

This minus 3% is a small amt because of weather but mostly O's SHITTY policies.

So the 'bubble' was both parties fault but credit for the SUPPOSED low unemployment built under Dubya's ponzi scheme goes to Dubya????


lol


NO, BUSH REGULATOR FAILURE ALLOWED A SUBPRIME BUBBLE TO HAPPEN

November 27, 2007

A Snapshot of the Subprime Market



Dollar amount of subprime loans outstanding:

2007 $1.3 trillion

Dollar amount of subprime loans outstanding in 2003: $332 billion

Percentage increase from 2003: 292%



Proportion of subprime mortgages made from 2004 to 2006 that come with "exploding" adjustable interest rates: 89-93%


Proportion approved without fully documented income: 43-50%


Proportion with no escrow for taxes and insurance: 75%



Proportion of completed foreclosures attributable to adjustable rate loans out of all loans made in 2006 and bundled in subprime mortgage backed securities: 93%


Subprime share of all mortgage originations in 2006: 28%


Subprime share of all mortgage origination in 2003: 8%


http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[EconChick]

Weird, you don't remember the economy shrinking 9%+ the last quarter of Dubya's term?

You'd think with a contraction of almost 3% last quarter those 'job creators' would be worried and escaping Vegas East, why aren't they?

The revision reflected a slowdown in health care spending.

Consumers returned to stores and car dealerships, companies placed more orders for equipment and manufacturing picked up as temperatures warmed, indicating the early-year setback was temporary. Combined with more job gains, such data underscore the view of Federal Reserve policy makers that the economy is improving and in less need of monetary stimulus.

The first-quarter slump is “not really reflective of fundamentals,” said Sam Coffin, an economist at UBS Securities LLC in New York and the best forecaster of GDP in the last two years, according to data compiled by Bloomberg. “For the second quarter, we’ll see some weather rebound and a return to more normal activity after that long winter.”

U.S. Economy Shrank in First Quarter by Most in Five Years - Bloomberg

That's because of the bubble...caused by BOTH parties for the umpteenth time....burst.

This minus 3% is a small amt because of weather but mostly O's SHITTY policies.

Which policies? State your case.

Oh Jesus, the ones that are repeated over and over and over on this board....on dozens of threads. Mostly big spending is a good summary of them. If you don't know it now, you never will.

 

[JakeStarkey]

econchick cannot state a case, but that became obvious very quickly

 

[CrusaderFrank]

..and by "regulatory failure" you mean how Fannie and Freddie should not have been allowed to stamp AAA credit on subprime paper, right?

 

[LoneLaugher]

econchick cannot state a case, but that became obvious very quickly

Well.....she is thinking on a higher plain than we are. Her case must be assumed.

 

[LoneLaugher]

That's because of the bubble...caused by BOTH parties for the umpteenth time....burst.

This minus 3% is a small amt because of weather but mostly O's SHITTY policies.

Which policies? State your case.

Oh Jesus, the ones that are repeated over and over and over on this board....on dozens of threads. Mostly big spending is a good summary of them. If you don't know it now, you never will.

No.....specifically. And please make the connection between a specific policy and the 3% GDP decline. I promise to try and understand your lofty explanation.

 

[Dad2three]

..and by "regulatory failure" you mean how Fannie and Freddie should not have been allowed to stamp AAA credit on subprime paper, right?

ONE MORE TIME. You realize F/F doesn't stamp ANYTHING with a rating right?

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.


The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis - Forbes


No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom: The first thing to point out is that the both the subprime mortgage boom and the subsequent crash are very much concentrated in the private market, especially the private label securitization channel (PLS) market. The Government-Sponsored Entities (GSEs, or Fannie and Freddie) were not behind them. The fly-by-night lending boom, slicing and dicing mortgage bonds, derivatives and CDOs, and all the other shadiness of the mortgage market in the 2000s were Wall Street creations, and they drove all those risky mortgages.

Here’s some data to back that up:


2. The government’s affordability mission didn’t cause the crisis


3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.


4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now

MY FAV, AEIS Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”


Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture


YES, DUBYA REQUIRING F/F TO BUY $440 BILLION IN MBS'S DOOMED F/F ESPECIALLY WHEN HE TOOK OFF CLINTON'S RULE IN 2004, AND UPPED HIS 'GOALS' FROM 50% TO 56%



"(In 2000, Clinton) HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay."

How HUD Mortgage Policy Fed The Crisis

"In 2004 (BUSH) , the 2000 rules were dropped and high‐risk loans were again counted toward affordable housing goals."

http://www.prmia.org/sites/default/files/references/Fannie_Mae_and_Freddie_Mac_090911_v2.pdf



“The idea that they were leading this charge is just absurd,” said Guy Cecala, publisher of Inside Mortgage Finance, an authoritative trade publication. “Fannie and Freddie have always had the tightest underwriting on earth…They were opposite of subprime.”


Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown - The Daily Beast

 

[Dad2three]

..and by "regulatory failure" you mean how Fannie and Freddie should not have been allowed to stamp AAA credit on subprime paper, right?

The relative market share of Fannie Mae and Freddie Mac dropped from a high of 57 percent of all new mortgage originations in 2003, down to 37 percent as the bubble was developing in 2005-06.

Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom – Source: University of North Carolina at Chapel Hill


Private lenders not subject to congressional regulations collapsed lending standards. Taking up that extra share were nonbanks selling mortgages elsewhere, not to the GSEs. Conforming mortgages had rules that were less profitable than the newfangled loans. Private securitizers — competitors of Fannie and Freddie — grew from 10 percent of the market in 2002 to nearly 40 percent in 2006. As a percentage of all mortgage-backed securities, private securitization grew from 23 percent in 2003 to 56 percent in 2006



Examining the big lie: How the facts of the economic crisis stack up | The Big Picture

 

[EconChick]

econchick cannot state a case, but that became obvious very quickly

I'm not here to state a case, darlin. Didn't you read the title?

But I'm having fun pointing out the lack of critical thinking in certain posts.

 

[Dad2three]

That's because of the bubble...caused by BOTH parties for the umpteenth time....burst.

This minus 3% is a small amt because of weather but mostly O's SHITTY policies.

Which policies? State your case.

Oh Jesus, the ones that are repeated over and over and over on this board....on dozens of threads. Mostly big spending is a good summary of them. If you don't know it now, you never will.

Repeat After Me: Obama Cut the Deficit and Slowed Spending to Lowest Level in 50 Years

CBO reported in January, 2009 that the federal budget deficit for that fiscal year, which began on October 1, 2008, was already $1.2 trillion. President Obama's additional '09 spending added another $200 billion to the deficit, bringing the total to $1.412 trillion. Unprecedented and huge, but given the enormity of the financial crisis and the depth of the recession, there weren't many other options on the table. Add two wars into the mix and there you go.

Bob Cesca: Repeat After Me: Obama Cut the Deficit and Slowed Spending to Lowest Level in 50 Years

 

[EconChick]

Got it, Policy from Dubya didn't REALLY matter, But EVERYTHING Obama has done is the REASON the US can't climb out of the Dubya/GOP hole right?

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


WHO WAS IN CHARGE OF REGULATORS THEN?

I said both parties were to blame for the financial crisis. I've said it over and over.

You can SAY THAT ALL YOU WANT. Doesn't make it true

One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

Yeah, the financial meltdown was all Bush's doing. That defies common sense. AGAIN.

 

[Dad2three]

econchick cannot state a case, but that became obvious very quickly

I'm not here to state a case, darlin. Didn't you read the title?

But I'm having fun pointing out the lack of critical thinking in certain posts.

"But I'm having fun pointing out the lack of critical thinking in certain posts."



You mean your lack of honesty and critical thinking?

 

[Dad2three]

I said both parties were to blame for the financial crisis. I've said it over and over.

You can SAY THAT ALL YOU WANT. Doesn't make it true

One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

Yeah, the financial meltdown was all Bush's doing. That defies common sense. AGAIN.

Weird you are blaming Obama for spending that starts in the GOP House but don't understand Dubya had day to day regulator oversight of FBI, SEC, F/F, HUD, etc...


Bush drive for home ownership fueled housing bubble

FBI saw threat of loan crisis

"It has the potential to be an epidemic"


A top official warned of widening mortgage fraud in 2004, but the agency focused its resources elsewhere

"We think we can prevent a problem that could have as much impact as the S&L crisis,"


FBI saw threat of loan crisis - Los Angeles Times
They ended up with fewer resources, rather than more.

 

[Plasmaball]

When Bush hit a recession, he told everyone to go out and buy stuff.

A society which depends that heavily on internal consumption fueled by credit is doomed.

"Fueled by credit" is the problem. Sorry if you choked when you swallowed my "belt buckle".

kinda gay