It's a miracle the economy has grown for 71 straight months.

[regent]

Some dont see it your way...
Steve Wynn Economic recovery pure fiction

Really - we've been using an index that didn't include energy and food costs to calculate inflation for years. CPI is too erratic to be used as any kind of economic measure at all with them included. And when you think about it, since they both contribute to some degree to our economic health anyway removing the noise from the signal makes sense. This would say that DESPITE rises in food costs and fluctuations in energy prices our inflation rate is very low.

I think I'll take the word of one of Americas most astute business men.
That and of course the liberals all crying about not being able to find a job. Although that could be because they're lazy and shiftless.

That was the Republican battle cry all during the Great Depression, lazy and shiftless, won't work and so on. Hoover added to that package: the bootstrap cliché about how people pulled themselves up with hard work and by purchasing lots of stock in good companies. When jobs became available Americans went to work, blacks moved from the South to the North because they were given jobs in the factories. Women were also needed and they too went to work.

 

[oldernwiser]

Some dont see it your way...
Steve Wynn Economic recovery pure fiction

Really - we've been using an index that didn't include energy and food costs to calculate inflation for years. CPI is too erratic to be used as any kind of economic measure at all with them included. And when you think about it, since they both contribute to some degree to our economic health anyway removing the noise from the signal makes sense. This would say that DESPITE rises in food costs and fluctuations in energy prices our inflation rate is very low.

I think I'll take the word of one of Americas most astute business men.
That and of course the liberals all crying about not being able to find a job. Although that could be because they're lazy and shiftless.

And that's why we get into such tight places sometimes - we take the word of someone who has skin in the game unchallenged over someone who studies it. And we do it not because it's rational or correct, but because it fits our own irrational beliefs.

 

[HereWeGoAgain]

Some dont see it your way...
Steve Wynn Economic recovery pure fiction

Really - we've been using an index that didn't include energy and food costs to calculate inflation for years. CPI is too erratic to be used as any kind of economic measure at all with them included. And when you think about it, since they both contribute to some degree to our economic health anyway removing the noise from the signal makes sense. This would say that DESPITE rises in food costs and fluctuations in energy prices our inflation rate is very low.

I think I'll take the word of one of Americas most astute business men.
That and of course the liberals all crying about not being able to find a job. Although that could be because they're lazy and shiftless.

That was the Republican battle cry all during the Great Depression, lazy and shiftless, won't work and so on. Hoover added to that package: the bootstrap cliché about how people pulled themselves up with hard work and by purchasing lots of stock in good companies. When jobs became available Americans went to work, blacks moved from the South to the North because they were given jobs in the factories. Women were also needed and they too went to work.

Sure it was.

 

[oldernwiser]

Some dont see it your way...
Steve Wynn Economic recovery pure fiction

Really - we've been using an index that didn't include energy and food costs to calculate inflation for years. CPI is too erratic to be used as any kind of economic measure at all with them included. And when you think about it, since they both contribute to some degree to our economic health anyway removing the noise from the signal makes sense. This would say that DESPITE rises in food costs and fluctuations in energy prices our inflation rate is very low.

I think I'll take the word of one of Americas most astute business men.
That and of course the liberals all crying about not being able to find a job. Although that could be because they're lazy and shiftless.

That was the Republican battle cry all during the Great Depression, lazy and shiftless, won't work and so on. Hoover added to that package: the bootstrap cliché about how people pulled themselves up with hard work and by purchasing lots of stock in good companies. When jobs became available Americans went to work, blacks moved from the South to the North because they were given jobs in the factories. Women were also needed and they too went to work.

Absolutely. No one ever said "Great job America for spending our way out of poverty" but, in essence, it's what we do. I spend my paycheck so that you can earn yours. This is the fundamental backbone of a capitalist economy and probably one of it's biggest drawbacks. The more people save, the less capital exists and the fewer jobs that are available which forces people to save more which further reduces employment. But, that isn't a limitless proposition - eventually, we run out of resources (cash, material, or labor).

We blew out of the Great Depression because of 2 things. One was the WPA projects that put money in people's pockets. The recovery itself stalled during WWII, but mostly due to war-time rationing which made spending difficult. With the build-up in savings and the end of rationing after the war, a skyrocketing economy was inevitable no matter which party held office or the tax rates paid by the folks at the top of the pile. And ever since that bubble deflated, all we hear about is how exorbitant tax rates on the richest are and how lazy people have become.

 

[EdwardBaiamonte]

The more people save, the less capital exists.

sorry dear thats 100% wrong. People don't save money in their mattresses.
They put it in a bank where they earn interest from loans that expand the economy. THe more they save the cheaper the loans and more the economy expands and/or prices come down to stop the excessive saving. Econ 101 class one day one.

Do you understand?

 

[regent]

The more people save, the less capital exists.

sorry dear thats 100% wrong. People don't save money in their mattresses.
They put it in a bank where they earn interest from loans that expand the economy. THe more they save the cheaper the loans and more the economy expands and/or prices come down to stop the excessive saving. Econ 101 class one day one.

Do you understand?

Putting money in the mattress was far safer at the beginning of the Great Depression than putting it in banks. A person could go to the bank at that time to draw out money and the bank could well be closed, forever, or the bank just didn't have the money. Too many banks had played the stock market and like the people got burned. FDR fixed the banking problem.

 

[oldernwiser]

The more people save, the less capital exists.

sorry dear thats 100% wrong. People don't save money in their mattresses.
They put it in a bank where they earn interest from loans that expand the economy. THe more they save the cheaper the loans and more the economy expands and/or prices come down to stop the excessive saving. Econ 101 class one day one.

Do you understand?

Sweet Ed... I love the way you fail to comprehend even the most salient of points.

Savings accounts DO provide interest. But, that rate is quite low and getting to your cash is such a problem that people can also save by simply keeping their money in their wallets without missing thee pittance they get for saving small amounts. But here's the point Ed, if you sell widgets and people want to hold onto their cash, your sales drop. With enough of that others who also sell the same widget suffer the same drop in sales causing the manufacturer to cut back on production. That reduction, if persistent enough, results in lost employment (makes sense to me). Sure, prices may be adjusted along the way, but Ed, as we both know prices can only come down so much before it's no longer feasible to produce those widgets - in which case the business fails. Overall, this is a net loss to the economy and results in credit tightening, making it more difficult to obtain loans.

At which school did you say you took Econ 101? Might I suggest a Khanacademy refresher...

 

[EdwardBaiamonte]

if you sell widgets and people want to hold onto their cash, your sales drop..

100% stupid anad liberal
1) in a free country people have a right not to buy your crappy widget.
2) economic progress happens when people stop buying buying one product to buy another one they value more
3) if they want to save a huge portion of their income as the people in China do they are free too. Its none of your business.
4) if the libturd govt creates artificial soviet demand or bubbles the economy suffers when the artifical demand is withdrawn.

 

[oldernwiser]

if you sell widgets and people want to hold onto their cash, your sales drop..

100% stupid anad liberal
1) in a free country people have a right not to buy your crappy widget.
2) economic progress happens when people stop buying buying one product to buy another one they value more
3) if they want to save a huge portion of their income as the people in China do they are free too. Its none of your business.
4) if the libturd govt creates artificial soviet demand or bubbles the economy suffers when the artifical demand is withdrawn.

Dearest Ed... of course I have the right not to buy your crappy widget. That wasn't the scenario, was it.
Economic progress happens when people buy - we can simply end the statement there. Whatever the cause, it's the exchange of cash for goods that drives the economy - or is that simply too libturd for you?

What school did you say you got your economic degree from?

 

[EdwardBaiamonte]

Economic progress happens when people buy -

too 100% stupid. People in the USSR bought every day after waiting in long liberal lines but looking back we know that was not economic progress. Do you have the IQ to understand?

We could print and give everyone a million dollars so they could buy a lot. Would that cause economic progress?

See why we are 100% positive that liberalism is based in pure ignorance??

 

[oldernwiser]

Economic progress happens when people buy -

too 100% stupid. People in the USSR bought every day after waiting in long liberal lines but looking back we know that was not economic progress. Do you have the IQ to understand?

We could print and give everyone a million dollars so they could buy a lot. Would that cause economic progress?

See why we are 100% positive that liberalism is based in pure ignorance??

Sweet Ed, those were communist and not liberal lines. And their goals were different - they were designed to protect the proletariat and not the bourgoise.

Let's see... if we actually did print a $million and hand it out to everyone, what would be the impact? A surge in spending, for sure. Enough to sustain an entire economy? maybe not because of the inclination to save what isn't needed. And even if everyone spent the entire amount, we'd just have to do it again later because thee same rules would apply - consistent spending over a long term drives the economy. What would be better would be to increase gainful employment.

Now, dear Ed, we come to the point you should listen carefully to because I think you might have forgotten this. Let's say that the government appropriated a huge block of cash (perhaps by borrowing against the future as we usually do) and then contracted to repair roads and bridges. This would create jobs which puts considerably less than a million in a lot of hands, but the cash earned also fuels spending - from the lowly local diner to luxury car manufacturers, everyone benefits from the influx of money. They themselves can now afford to spend more which causes prosperity to propagate far away from the targeted construction projects. The increase in available funds is even felt at the federal level in the form of more revenues obtained through the current tax base and allows it to actually pay down the debt incurred (although we both know that some conservative commie is just going to redirect those funds to another pet project like a race track or a bank office building). Increased spending can also trigger higher inflation rates, meaning that the value of the dollar can drop a little. This moves into the international part of our economy and makes US dollars less desirable to foreign companies, which in turn reduces our trade imbalance problems a little. This isn't socialist, or communist, or even libturd thinking. It's just plain old capitalistic thinking applied to the entire scope of the economy rather than what's in YOUR wallet.

Now tell ME that you have the wit to understand Econ 101.

 

[EdwardBaiamonte]

Now tell ME that you have the wit to understand Econ 101.

dear, if you feel in your heart I don't understand a substantive area of econ 101 please identify the area and say why you think I don't understand it, or, admit as a typical liberal you lack the IQ to defend yourself.

 

[oldernwiser]

Now tell ME that you have the wit to understand Econ 101.

dear, if you feel in your heart I don't understand a substantive area of econ 101 please identify the area and say why you think I don't understand it, or, admit as a typical liberal you lack the IQ to defend yourself.

Sweet Ed, I believe I already have.

 

[EdwardBaiamonte]

Now tell ME that you have the wit to understand Econ 101.

dear, if you feel in your heart I don't understand a substantive area of econ 101 please identify the area and say why you think I don't understand it, or, admit as a typical liberal you lack the IQ to defend yourself.

Sweet Ed, I believe I already have.

So you are afraid to try??? isn't that typical of a liberal

 

[oldernwiser]

Now tell ME that you have the wit to understand Econ 101.

dear, if you feel in your heart I don't understand a substantive area of econ 101 please identify the area and say why you think I don't understand it, or, admit as a typical liberal you lack the IQ to defend yourself.

Sweet Ed, I believe I already have.

So you are afraid to try??? isn't that typical of a liberal

Ed my love, I already have - you just need to pick up a thread and read.
But deficiencies in reading comprehension... isn't that a typical of a conservative?

 

[Meathead]

Of course Bush had over 90 months of uninterrupted GDP growth, which really means not in recession.

 

[Meathead]

More fodder for Obama's economic failures:

With all those caveats, here are the annualized growth rates for real G.D.P. for every president who took office after the end of World War II.

Each president is given credit for growth through the quarter before he left office. For those who left at the end of their terms, that would be the fourth quarter of the election year. For Richard M. Nixon, who resigned during the third quarter of 1974, it is through the second quarter of that year.

Also shown are the figures for Presidents Bush and Obama that would have appeared had the numbers been calculated before today’s announcement of second quarter data and revisions to earlier numbers.

They are listed in reverse order of growth.

Barack Obama, 1.2% annual G.D.P. growth rate (previously 1.5%)
George W. Bush, 1.6% (previously 1.7%)
George H.W. Bush, 2.1%
Gerald Ford, 2.2%
Dwight Eisenhower, 2.5%
Richard Nixon, 3.0%
Jimmy Carter, 3.2%
Ronald Reagan, 3.5%
Bill Clinton, 3.8%
Lyndon B. Johnson, 5.0%
John F. Kennedy, 5.4%

http://economix.blogs.nytimes.com/2011/07/29/ranking-the-presidents-by-g-d-p/

 

[Politico]

ISM Manufacturing Remains Steady Hiring Slows

Economic activity in the manufacturing sector expanded in April for the 28th consecutive month, and the overall economy grew for the 71st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

--------------------------------------

I think it's a miracle. No matter how hard they've tried, Republicans haven't been able to derail all of the improvement. Sure, they've slowed it down, but they haven't been able to stop it completely.

I see Dean has abandoned his thread as usual and everyone has continued to take the bait. The economy has grown. Shame no one's lives have.

 

[rdean]

ISM Manufacturing Remains Steady Hiring Slows

Economic activity in the manufacturing sector expanded in April for the 28th consecutive month, and the overall economy grew for the 71st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

--------------------------------------

I think it's a miracle. No matter how hard they've tried, Republicans haven't been able to derail all of the improvement. Sure, they've slowed it down, but they haven't been able to stop it completely.

I see Dean has abandoned his thread as usual and everyone has continued to take the bait. The economy has grown. Shame no one's lives have.

You would think Republicans would be dancing for joy business and the stock market have really taken off. When have they ever cared about the middle class and the poor? In the last 50 years?

 

[regent]

ISM Manufacturing Remains Steady Hiring Slows

Economic activity in the manufacturing sector expanded in April for the 28th consecutive month, and the overall economy grew for the 71st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

--------------------------------------

I think it's a miracle. No matter how hard they've tried, Republicans haven't been able to derail all of the improvement. Sure, they've slowed it down, but they haven't been able to stop it completely.

I see Dean has abandoned his thread as usual and everyone has continued to take the bait. The economy has grown. Shame no one's lives have.

You would think Republicans would be dancing for joy business and the stock market have really taken off. When have they ever cared about the middle class and the poor? In the last 50 years?

So Republicans would rather America's economy fail if it means Democrats fail.
These are the guys that believe the wearing of a flag pin is what makes one a real American.