healthmyths
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- Sep 19, 2011
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You know idiot. You don't have a fucking clue as to what you are talking about. You are a typical leftist shit bag who thinks copy-and-paste equates with knowledge.Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?And of all the Presidents including the above, GWB had these events which have NEVER EVER occurred in one presidency!
Recession
Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months
A Major $8 trillion market loss
Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year! $5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $8 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion
The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets. Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
$1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Historical Tables
You're an idiot.....NBER determines the official start and end dates of recessions...the recession of 2001 didn't "start" under Clinton even under the "technical" definition....
and let's put its magnitude into perspective...
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WAAAAAYYYYYYYY down there in the lower right hand corner.......what do you see WAAAAAAYYYYYY up there in the upper left hand corner?
So YOU think that on February 28,2001 there was NO recession.
Then automatically when NBER said "yup as of today 3/1/01 a Recession started"?
You think that a recession is like a car turn on and off with a key?
Almost all logical and knowledgeable people agree that a recession is like a 1 million barrel oil tanker turning around.
20 tanker tips
1. Big ships cannot stop on a dime. In fact, these ships may require as much as 5 miles to stop (with gears in full reverse). The solution is simple: stay out of their way.
2. Big ships will not stop. They may slow down to avoid traffic, however, keep in mind that a ship's steering control involves a direct relationship between the force of the propeller's wash against the rudder and their ability to maneuver. Thus, the slower they travel, the less maneuverable they become.
3. Big ships do not turn very well. For example, a 500 foot, 8000-ton ship needs over a third of a mile to turn around. Moreover, once such a ship commits to a turn, it will not waiver. Also, just as a following sea affects a pleasure boat's steering, the same holds true of the effect of a following sea on a big ship. Recall the rule regarding big ships in a narrow channel. The Santa Barbara Channel is a "narrow" channel especially when one considers that really big ships may need 5-10 miles to turn.
4. Although these ships have radar (perhaps more than one), the beam angle comes off from so high up (sometimes 100 feet or more) that you may not be seen. Generally speaking, if you are less than 3 miles ahead of a big ship, you are invisible to her radar. The beam has probably gone right over you - your radar signature will likely be too small to notice.
So too with a recession. It doesn't just start one day and stop the next.
Get the f out of here....and learn what an economic cycle looks like.
A slowing of the rate of growth doesn’t constitute a recession.....it merely means that the cycle is nearing a peak....it is only when growth turns negative that you are in recession, by the technical definition....
NBER measures recession and recovery by the trends in 4 cycles.....this makes the call more subjective...
Under neither standard did the recession of 01 begin before Scrub came into office....though I note that I don't consider Scrub responsible for it.....what followed is a tribute to his unrivaled ineptitude (though the idiots on whom he relied for advice bear a considerable part of the blame)
Uh....what I am "cutting and pasting" are OBJECTIVE facts....
You spend your time gorging on opinions and second hand interpretations at the likes of Breitbart, NYPost, Washington Times and CNS....it's like a feedback loop of idiocy......you proceed from your biases, exclude everything which is in conflict in favor of confirming them at sites whose entire reason for existing is to indulge you...
I tend to rely on primary sources, like BLS and BEA, and combine the facts with a professional and academic background in economic analysis.....