Faun
Diamond Member
- Nov 14, 2011
- 124,443
- 81,359
You're a fucking retard. You think I should believe you and not the NBER???As always, you prove to be too retarded to make a cogent argument. First off all, you're referencing nominal figures, not real figures. Too fucking stupid.So "recessions" are just like water faucets. You turn on a faucet water comes out. Recession starts immediately... is that your perception?No recession started under Clinton. That's a lie and that's as far as I got in your post since it's reasonable to assume that everything else you posted is also a lie.You mean don't measure Obama like we do Ronnie? lol
Yes, Dubya/GOP dug a HUGE hole for US!
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ONCE AGAIN UNTIL YOU IDIOTS that make those STUPID, IGNORANT totally absent of any perspective comments about GWB "digging a hole"
REMEMBER these EVENTS... I'm POSTING THEM EVERY TIME YOU IDIOTS seem to forget THESE EVENTS HAPPENED!!@!
NOT ONE president has every had this accumulated cataclysmic events occur in one Presidency!
I will continue to POST THESE EVENTS until you dummies recognize THEY HAPPENED!
THEY had an affect on the economy! But you dumb sh...ts don't remember or are ignoring for what reason I don't understand!
THESE ARE THE FACTS! THE REALITIES!!!
Recession
1) 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 $5 trillion market loss
2) 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 $5 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 Anderson Cooper 360 - CNN.com Blogs
The worst attacks on the USA in History.. 3,000 deaths!!!
3)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: The Top 10 Financial Events of the Decade
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.
4) $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!!!
Government Revenue Details Federal State Local for 2008 - Charts
2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary
Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?
So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..
IN spite of recession, dot.com bust, 9/11, worst hurricanes.... MORE people were working... more tax revenue was collected. GDP grew!
But IDIOTS like you FFOs and LIPs ..............
WHY is it so hard for idiots like you to RECOGNIZE that these EVENTS cost jobs and in spite of the economy GREW!!!
FACTS... NOT hyperbole! REALITY!!!
If truth and facts were on your side you wouldn't have to lie.
For totally ignorant people about the economy the prime basis for determining a "recession" is:
The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP); although the National Bureau of Economic Research (NBER) does not necessarily need to see this occur to call a recession.
Recession Definition Investopedia
NOW you extremely economics illiterate................
The official start of the 2001 recession started according to the following FACT:
year Qtr GDP in billions
2000 I 9,629.4
2000 II 9,822.8
2000 III 9,862.1
2000 IV 9,953.6 downturn....
2001 I 10,024.8 UP!
2001 II 10,088.2 UP!
2001 III 10,096.2 UP!
2001 IV 10,193.9 UP!
View attachment 47703
The U.S. Recession of 2001-2002You don't use nominal figures because you like them better than real numbers.
Secondly, for some bizarre reason, you put the word, "downturn," next to a quarter indicating growth. Just how stupid are you to think you can magically alter history if you just type a misplaced word?
And lastly, the recession started in March, 2001, and there's nothing on this planet you can use to change that. In fact, there might not have even been a recession if not for 9.11.
And like a little kid you think "hmm Recession starts March 1, 2001 because that's when the NBER said so."
Recessions are not like water faucets. They don't just magically start on a specific date.
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Need I remind you? When referencing GDP, you used nominal figures, not real figures. Even worse for you, you posted the word, "downturn," next to a quarter showing growth.
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We learned two things from this exercise...
1... you're batshit insane.
2... the 2001 recession started in March, 2001.