Say Anything Blog

What would be interesting is how well we would be off IF the Housing debacle had not happened.

What would be interesting is how well we would be off IF the Housing debacle had not happened.

More like a credit debacle.

From which I did very well as I helped to build a lot of those houses sold on credit. Thank you, dumb Michiganders. It wasn’t a debacle for me.

Don’t forget, in the “reality based” liberal land, a “cut” is really a decrease in the amount of growth.

You can see this played out every time the Republicans talk about cutting the rate of growth in entitlement spending. The Democrats then come forth to proclaim that the Republicans want to “cut” Social Security. This is all a part of the Democrat “politics of fear”.

Liberal inversion at work.

Justin B,

You give a link to corroborate your statement, “maybe we ain’t in a recession after all.” And yet you don’t include,

“A decline in the index of around 4 percent to 4.5 percent at an annual pace over six months is one signal a recession is imminent, according to the Conference Board. The gauge met that requirement in January, when it dropped at a 4.7 percent pace.”

Nunez,

Not withstanding liberal illiteracy and smug wishful thinking, words actually have specific meanings.  The definition of a recession is two consecutive quarters of negative GDP growth.  That definition has been the professionally and commonly accepted one since long before Samuelson, and certainy well before you first learned to spell the word.

The rate of GDP growth for the first quarter was a still positive 0.6%.  Hardly acceptable by any measure… but not even half a recession either.

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

What you are trying to say is that a decline in a consumer sentiment index should be viewed as a larger indicator than growth or decline in GDP?

Consumers have heard nothing but “recession”, “recession”, “recession” from the media for months.  Obviously, consumer sentiment is going to suffer.  But what is funny is that despite a major housing slowdown, high oil prices, credit crunches, investment firms going under… in spite of all that and in spite of your desire to have a recession occur, it hasn’t yet.

Now, predictions are consistently that we will return to growth in 3Q2008 and that the housing crisis will stabilize and improve in 1Q2009.

GDP grew in 1Q2008.  So in order for a recession to occur, GDP must shrink in both 2Q2008 and 3Q2008.  That is not happening.  No amount of Liberal thinking or hoping seems to be making it happen.  No amount of reporting seems to be making it happen.  Isn’t that the real story?  Why isn’t the real story “Liberal Politicians and Economists underestimate the resiliency of Capitalism and Markets?”

likwidshoe.  No, politics of lies and deception. 

This is all a part of the Democrat “politics of fear”.

As well as attempting to fool our senior citizens.  Shameful carnival hawkers.

Communism is evil

Why isn’t the real story “Liberal Politicians and Economists underestimate the resiliency of Capitalism and Markets?”

Justin,

With all due respect, the real story is the enormous tax increase Democrats are planning for the US, and the resulting huge loss of private sector capital that will result.

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

Your Source?

.1% isn’t exactly a robust economy, but the last two years, GDP growth has averaged well over 3%.

BEA, Dept of Commerce

This was the press release for 2Q2007.  Not sure how a 4.0% GDP growth rate for the quarter shows up as a 1% rate on your chart.

NEW YORK (CNNMoney.com)—The U.S. gross domestic product came in at a 4.0 percent annual rate of growth for the second quarter, showing the highest growth rate in more than a year, according to the Commerce Department.

From the BEA

Annual GDP Growth Rates:

2003--2.5%
2004--3.6%
2005--3.1
2006--2.9%
2007--2.2%

Sorry, averaging those numbers out, that works out to a total of 2.86% per year growth over the last five years.  2007 was fairly anemic coming in at 2.2% GDP growth. 

What the hell is your chart showing again?

RBB,

If you can make up economic statistics with no problem, how come you can’t make up even a short list of “Big Dog” Clinton’s anti- Islamist terror and nuclear nonproliferation accomplishments like you promised you could?

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