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Friday, May 30, 2008

The Recession That Was Really An Expansion

The “gloomy economy” the liberals and the journalists (I repeat myself) keep talking about isn’t really all that “gloomy” at all

What do you call a recession where the economy keeps going up and up, even if a bit sluggishly? Well, my friends, you call that an expansion. And that is what we seem to have right now, despite all the economic doomsaying about a recession or even a Great Depression 2.0. Today, the Commerce Department revised its first-quarter estimate of gross domestic product upward to 0.9 percent from 0.6 percent. That follows 0.6 percent GDP growth in the final quarter of 2007. The revision also makes it more likely that the second quarter will be positive, maybe 1.5 percent, maybe even higher.

Now I went back and checked the numbers for the past 50 years and didn’t find a single case of a recession—as calculated by the National Bureau of Economic Research—that started with or contained two straight quarters of positive GDP growth, much less three quarters.

Given that our economy has continued to grow - albeit sluggishly - in the face of soaring fuel prices and a constant barrage of negativity from the political and media elite is absolutely amazing.

Of course, everything could change, but even so.  Comparing the reality of the economy to the way the economy is talked about makes one wonder if the talkers aren’t motivated more by politics than actual concern for the country’s economic outlook.

Comments

Avatar for John Ruberry

Under President Obama, such news would be presented as an expansion.

John Ruberry on May 30, 2008 at 12:53 pm
Avatar for John Ruberry

Under President Obama, such news would be presenteted as an expansion.

John Ruberry on May 30, 2008 at 12:54 pm
Avatar for mygodyouredumb

Whew, that’s a relief.  I can tell all my laid-off buddies that they don’t have to worry about paying $4/gallon for Bush’s gasoline anymore.  Just like our gutless leader told us after 9/11, go out and spend money!

mygodyouredumb on May 30, 2008 at 01:05 pm

Of course, everything could change

Of course, it will change in November.  If Barry wins, everything will be sunshine and rainbows and ponies.


"Although I can accept talking scarecrows, lions and great wizards in emerald cities, I find it hard to believe there is no paperwork involved when your house lands on a witch.”
- Dave James

Steve L. on May 30, 2008 at 01:09 pm

mygogyourdumb, IF your liberal tree hugging pals would allow the oil companies to free up our own resources, MAYBE you and your pathetic, unemployed pals could get off your butts and go to Work? Bless your pathetic little heart! There are soooooo many jobs, IF you really wanted to WORK.

Zsa Zsa on May 30, 2008 at 01:13 pm

Rob: Despite the facts on the ground, polling shows that twice as many Americans think we are in a recession as know we aren’t.  I have concluded that the reason lefties like polling so much is that it allows them to gauge the effectiveness of their propaganda.


Hope and change, in a free world, are the private possessions of motivated individuals.

robert108 on May 30, 2008 at 01:14 pm

ZZ: Yeah; the truth is that it’s the “environazis’ $4/gal gas”, isn’t it?


Hope and change, in a free world, are the private possessions of motivated individuals.

robert108 on May 30, 2008 at 01:15 pm

Exactly! AND how they love to blame Bush!

Zsa Zsa on May 30, 2008 at 01:17 pm

Of course, the “reality based liberals” see a situation opposite of reality all the while bitching about paying for “Bush’s gas”.

Because we all know that “laid-off buddies” equals a recession and high gas prices equals the United States President’s doing. Nevermind the complexities of the market and reality, for the “progressives” have a story to sell.

likwidshoe on May 30, 2008 at 02:17 pm

For the site regulars: the reprehensible “mygodyouredumb” is the same person as the reprehensible “dannyboy”.

likwidshoe on May 30, 2008 at 02:19 pm
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“mygodyouredumb” is the same person as the reprehensible “dannyboy”.

I thought it smelled familiar!
You have to consider, lik! “Dumb"/ “Danny’s” ADD probably keeps him from remembering his screen name from one sign on until another!



Trolls. It’s what’s for breakfast!
And then I eat their lunch.

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Proof on May 30, 2008 at 02:24 pm
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Proof,

You have to consider, lik! “Dumb"/ “Danny’s” ADD probably keeps him from remembering his screen name from one sign on until another!

Ask yourself, “How petty am I when telling people over the computer that I have no idea who they are that they have ADD?” And continue to ask if this could be a reflection upon your own insecurities.

Nunez on May 30, 2008 at 04:18 pm
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Ask yourself, “How petty am I when telling people over the computer that I have no idea who they are that they have ADD?” And continue to ask if this could be a reflection upon your own insecurities.

Ask yourself, “How petty am I when telling people over the computer that I have no idea who they are that they have insecurities?”

Nunez: If your skin is as thin as Obama’s, join a blog on Powerpuff Girls.
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Trolls. It’s what’s for breakfast!
And then I eat their lunch.

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Proof on May 30, 2008 at 04:27 pm
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Proof,

If you believe that you have no insecurities, then that is your insecurity. Using the ‘Tu quoque’ argument fails simply because attacking multiple people on multiple occasions on this blog making such stupid assumptions as they have ADD is childlike.

Thin skin? Your obtuse comment wasn’t directed at me. Understand that name-calling doesn’t strengthen your argument, it displays your inability to articulate a persuasive argument.

Nunez on May 30, 2008 at 04:51 pm

Understand that name-calling doesn’t strengthen your argument, it displays your inability to articulate a persuasive argument.

Nunez,

What you say might be true, but only if an individual’s sole purpose was in fact, to “articulate a persuasive argument.” Few of us are so ruthlessly unemotional… especially those on the Left.


“Poverty of goods is easily cured; poverty of the mind is irreparable.”

Bat One on May 30, 2008 at 05:10 pm

If you believe that you have no insecurities, then that is your insecurity.

Dr. Phil?


"we should select our leaders on principle first, electability second.”

A young man whose wisdom far exceeds his years

Spartacus on May 30, 2008 at 05:11 pm

Dr. Phil?

Either that, or a part time bartender.


“Poverty of goods is easily cured; poverty of the mind is irreparable.”

Bat One on May 30, 2008 at 05:20 pm
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it displays your inability to articulate a persuasive argument.

Possibly I attributed the ADD to the wrong person. On another thread recently I gave you the definition of hyperbole.
For the ADD impaired, let’s visit it again!

Dictionary.com Unabridged (v 1.1)
hy·per·bo·le /haɪˈpɜrbəli/ Pronunciation Key - [hahy-pur-buh-lee]
–noun Rhetoric.
1.  obvious and intentional exaggeration.
2.  an extravagant statement or figure of speech not intended to be taken literally, as “to wait an eternity.”

When I say that someone who comments has ADD, (Pause while Nunez catches up.)
it is (to most people with at least a room temperature IQ) an obvious and intentional exaggeration. (Pause while Nunez catches up.)
For you to consistently miss this or assume that I am speaking other than figuratively, or speaking with hyperbole (Pause while Nunez catches up.) is quite tiresome.
Do I mock people who make stupid statements? (Pause while Nunez catches up.)Yes. Typically, I reserve my harshest sarcasm for those who repeatedly spout vitriolic nonsense or dishonestly represent themselves (or refuse to learn when the facts are presented to them.) (Pause while Nunez catches up.)

The fact that Dannyboy comes and shreds his credibility so badly that he has to change his user name before showing his figurative face again, qualifies him as dishonest.
Do I believe he has ADD. No. Does anyone who reads what I said believe that I believe it? No. Not any sane or rational person. (Pause while Nunez catches up.) Unless maybe you do. Do you really? Or are you just using it as a thin excuse to bust on me because of your own “insecurities”? Physician, heal thine own sorry ass!(Pause while Nunez...Nah! I don’t think he will, either!)



Trolls. It’s what’s for breakfast!
And then I eat their lunch.

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Proof on May 30, 2008 at 05:25 pm
Avatar for Nunez

Bat One,

Fair enough. It’s not about being ‘unemotional’ it’s about not allowing another person to cause a reactive negative emotion of ‘frustration’ or ‘contempt’ which does more harm to you than them.

“Anger is an acid that can do more harm to the vessel in which it is stored than to anything on which it is poured.” -Mark Twain

Proof,

Funny rant.

“Respond intelligently even to unintelligent treatment.” -Lao-Tzu

Nunez on May 30, 2008 at 05:44 pm
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Example of the mind numbingly dense, or hyperbole impaired:
On a thread about how Democrats are having problems with Al Franken, mygodyouredumb says:

NEWSFLASH: NEO-CONS HAVE NO SENSE OF HUMOR

It’s obvious that mgyd either did not read the story with comprehension or chose to ignore it, so as to make his own biased point. I said:

mgyd: Apparently it’s fellow Democrats that have no sense of humor according to the story! But, apparently, you can’t read!

Obviously exaggerating, since it’s obvious (to everyone but Nunez) that he can read, write and argue feebly!
Nunez said:

If mgyd ‘can’t read’ then why are you typing a comment to him?

Duh! I keep telling him about hyperbole, demonstrating hyperbole and printing definitions of hyperbole, but Nunez is Nunez. Bless his heart!



Trolls. It’s what’s for breakfast!
And then I eat their lunch.

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Proof on May 30, 2008 at 05:47 pm
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(Pause while Nunez catches up.) Heh.



Trolls. It’s what’s for breakfast!
And then I eat their lunch.

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Proof on May 30, 2008 at 05:49 pm
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Proof,

Perfect. Anything you say against Democrats are simply hyperboles.

Nunez on May 30, 2008 at 06:11 pm
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Proof,

“There are some people so addicted to exaggeration that they can’t tell the truth without lying.” ~Josh Billings

Nunez on May 30, 2008 at 06:15 pm
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Perfect. Anything you say against Democrats are simply hyperboles.

Perfect. You are educated far beyond your intelligence!



Trolls. It’s what’s for breakfast!
And then I eat their lunch.

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Proof on May 30, 2008 at 06:22 pm
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“There are some people so addicted to exaggeration that they can’t tell the truth without lying.” ~Josh Billings

Am I responsible if you’re too thick to tell the difference?



Trolls. It’s what’s for breakfast!
And then I eat their lunch.

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Proof on May 30, 2008 at 06:23 pm
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Proof,

Perfect. You are educated far beyond your intelligence!

Thank you.

Am I responsible if you’re too thick to tell the difference?

Yes.

Nunez on May 30, 2008 at 07:24 pm
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