courseofhistory
Rookie
- Aug 7, 2012
- 1,230
- 179
- 0
- Banned
- #21
Obama wasn't president until 2009 so he isn't totally at fault. Coming out of a long cycle of recession can take years and much of it is up to Congress to try to solve. And what party has controlled the Congress for the last 2 years? Pubs are fooling themselves if they think Romeny/Ryan will fix things!
As the charts will show at the link, there was a deeper recession in 2007 and we are climbing out of it slowly. The deeper the recession, the slower the recovery and it isn't completely or even largely Obama's fault.
And if republicans and their supporters knew anything about the economy (I actually think they are stretching the truth and in some cases lying about who is responsible and supposedly how Romney/Ryan are going to fix it), they would realize that the world economy influences the US economy and is a cause of our recession and unemployment. There is only so much Obama or any president can do to change it. World trade volume greatly affects almost all economies, the US included. It is starting to pick up and is the one bright spot in the recovery. What the president does or doesn't do does not dramatically affect our economy because we are interdependent across the world.
One of several predictions says our economy will improve (with no help from Romney because the predictors are based on current stats.)
Read more
As the charts will show at the link, there was a deeper recession in 2007 and we are climbing out of it slowly. The deeper the recession, the slower the recovery and it isn't completely or even largely Obama's fault.
And if republicans and their supporters knew anything about the economy (I actually think they are stretching the truth and in some cases lying about who is responsible and supposedly how Romney/Ryan are going to fix it), they would realize that the world economy influences the US economy and is a cause of our recession and unemployment. There is only so much Obama or any president can do to change it. World trade volume greatly affects almost all economies, the US included. It is starting to pick up and is the one bright spot in the recovery. What the president does or doesn't do does not dramatically affect our economy because we are interdependent across the world.
Post-WWII Recessions
The Business Cycle Dating Committee of the National Bureau of Economic Research determines the beginning and ending dates of U.S. recessions. http://www.nber.org/cycles.html
It has determined that the U.S. economy experienced 10 recessions from 1946 through 2006. The committee determined that the 2007-2009 recession began in December 2007 and ended in June of 2009. Ending dates are typically announced several months after the recession officially ends. Read the June 2009 trough announcement by the NBER.
Length of Recessions
The 10 previous postwar recessions ranged in length from 6 months to 16 months, averaging about 10 1/2 months. The 2007-09 recession was the longest recession in the postwar period, at 18 months.
Depth of Recessions
The severity of a recession is determined in part by its length; perhaps even more important is the magnitude of the decline in economic activity. The 2007-09 recession was the deepest recession in the postwar period; at their lowest points employment fell by 6.3 percent and output fell by 5.1 percent.
One of several predictions says our economy will improve (with no help from Romney because the predictors are based on current stats.)
BMO chief investment strategist Brian Belski went on Bloomberg TV yesterday and made a huge call: he told viewers that "we're on the verge of the next great bull market" in stocks.
Belski said that "in the last 10 - 12 years we in the investment world have become so macro dominated we've forgotten that really fundamentals define stocks. We live by one very simple premise that stocks lead earnings, which lead the economy.
Read more
Florida Obama 49 Romney 46
Ohio 50 44
Virginia 50 45
Colorado 49 46
Nevada 49 45
Wisconsin 50 45
MI 44 47
PA 48 42
Ohio 50 44
Virginia 50 45
Colorado 49 46
Nevada 49 45
Wisconsin 50 45
MI 44 47
PA 48 42
Last edited: