Excellent economy

[LuvRPgrl]

The FACTS are in.

President Bush inheireted a slumping economy, not only did he turn it around, but the economy achieved historical high points in many, categories, and was doing excellent a large majority of categories, due to PRESIDENT BUSH's policies.

And that sucess story has run on for over six years now, unprecedented length.

 

[Helios]

That's because you cannot look at the GDP as the primary indicator of economic growth or stability. GDP is increased by military spending, which has gone up exponentially since Bush took office. It is also increased by inflation, which whether you like to believe it or not, is destroying the value of the dollar. Our dollar is worth about 4 cents compared to the dollar of 1920.

YES, the economy has seemingly strengthened, but WE BORROWED TRILLIONS of dollars from the Chinese and the Japanese... all that shit is gonna come back and kick the economy fatly in the ass when we are asked to repay the debt.

Don't kid yourself, this country is steering toward economic oblivion.

 

[nibor]

The FACTS are in.

President Bush inheireted a slumping economy, not only did he turn it around, but the economy achieved historical high points in many, categories, and was doing excellent a large majority of categories, due to PRESIDENT BUSH's policies.

And that sucess story has run on for over six years now, unprecedented length.

I don't know where you live nor what color glasses you wear, but there is NO economic upturn anywhere in my state, Bush inherited a surplus, but after the total rape of our industrial complex that we allowed by OUR ENEMIES during the previous THREE ADMINISTRATIONS it's amazing that our dollar didn't drop to sub zero levels, and our wages didn't drop past 1970s levels................we can not continue basing our economy on paper nor continue allowing our enemies to produce everything including the rags on our backs AND WE MUST GET BACK IN THE GAME.....................steel and textiles being the first things to reissue.....................


AND I'm really really disappointed that Canada had foresight enough to beat us hands down into the industrial hemp production!!!!!!!!!

 

[finebead]

The FACTS are in.

President Bush inheireted a slumping economy, not only did he turn it around, but the economy achieved historical high points in many, categories, and was doing excellent a large majority of categories, due to PRESIDENT BUSH's policies.

And that sucess story has run on for over six years now, unprecedented length.

Pure propaganda.

The truth:

How Bush destroyed our economy

By PAUL CRAIG ROBERTS

It is difficult to know where Bush has accomplished the most destruction, the Iraqi economy or the US economy.

In the current issue of Manufacturing & Technology News, Washington economist Charles McMillion observes that seven years of Bush has seen the federal debt increase by two-thirds while US household debt doubled.

This massive Keynesian stimulus produced pitiful economic results. Median real income has declined. The labor force participation rate has declined. Job growth has been pathetic, with 28% of the new jobs being in the government sector. All the new private sector jobs are accounted for by private education and health care bureaucracies, bars and restaurants. Three and a quarter million manufacturing jobs and a half million supervisory jobs were lost. The number of manufacturing jobs has fallen to the level of 65 years ago.

This is the profile of a third world economy.

The "new economy" has been running a trade deficit in advanced technology products since 2002. The US trade deficit in manufactured goods dwarfs the US trade deficit in oil. The US does not earn enough to pay its import bill, and it doesn't save enough to finance the government's budget deficit.

To finance its deficits, America looks to the kindness of foreigners to continue to accept the outpouring of dollars and dollar-denominated debt.

The dollars are accepted, because the dollar is the world's reserve currency.

At the meeting of the World Economic Forum at Davos, Switzerland, this week, billionaire currency trader George Soros warned that the dollar's reserve currency role was drawing to an end: "The current crisis is not only the bust that follows the housing boom, it's basically the end of a 60-year period of continuing credit expansion based on the dollar as the reserve currency. Now the rest of the world is increasingly unwilling to accumulate dollars."

If the world is unwilling to continue to accumulate dollars, the US will not be able to finance its trade deficit or its budget deficit. As both are seriously out of balance, the implication is for yet more decline in the dollar's exchange value and a sharp rise in prices.

Economists have romanticized globalism, taking delight in the myriad of foreign components in US brand name products. This is fine for a country whose trade is in balance or whose currency has the reserve currency role. It is a terrible dependency for a country such as the US that has been busy at work offshoring its economy while destroying the exchange value of its currency.

As the dollar sheds value and loses its privileged position as reserve currency, US living standards will take a serious knock.

If the US government cannot balance its budget by cutting its spending or by raising taxes, the day when it can no longer borrow will see the government paying its bills by printing money like a third world banana republic. Inflation and more exchange rate depreciation will be the order of the day.

Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions.He can be reached at: [email protected]

http://www.oregonindependent.com/node/72

Written by a REAL republican, not a fake neocon war mongering fiscal liberal, bent on rewarding his Skull and Bones buddies, while trashing all the other americans with a weak dollar and $3 a gallon gasoline.

Don't buy the snake oil these charlatans are selling. It's bad for you.

 

[Toro]

Its true that Bush did inherit an economy that was sliding into recession.

However, the economy did not recover because of Bush. To ascribe the success of the economy to Bush is to greatly underestimate the American people.

 

[shepherdboy]

That's because you cannot look at the GDP as the primary indicator of economic growth or stability. GDP is increased by military spending, which has gone up exponentially since Bush took office. It is also increased by inflation, which whether you like to believe it or not, is destroying the value of the dollar. Our dollar is worth about 4 cents compared to the dollar of 1920.

YES, the economy has seemingly strengthened, but WE BORROWED TRILLIONS of dollars from the Chinese and the Japanese... all that shit is gonna come back and kick the economy fatly in the ass when we are asked to repay the debt.

Don't kid yourself, this country is steering toward economic oblivion.

Yep we borrow from the very people who need us to purchase their cars, clothing, electronic's, and lead paint toys! And some of these Asians countries desperatly need the US to supply them with food. So it seems that all are depended on each other in some way. So if our dept is ever called, I say no soup for you.

 

[jillian]

LuvRboy posts so many threads, and not a single one gets anything right....

Now for the reality:

Keefe, Bruyette & Woods expects a mild one. Martin S. Feldstein, a Harvard professor of economics and president of the National Bureau of Economic Research, believes there’s a greater than 50-50 risk of one. The economic data indicate the U.S. may already be in the midst of one. Yet most political leaders would rather forfeit victory at the National Spelling Bee than utter the word “recession.” But honesty is critical now. It allows for practical policy making, and, just as important, builds public confidence.

First, the trends. The U.S. housing market continues its collapse, with prices falling, foreclosures exploding, homebuilders going into the red, mortgage lenders struggling. Manufacturing has slowed. The unemployment rate crossed the classic recession-is-coming line at the end of December, when the three-month average jumped 0.357 percent from the comparable period in 2006. That rate rose to the psychologically important five percent in December, from 4.73 percent from the previous month. History shows that this metric means the economy is about to slide into recession or as begun its retreat.

Consumer wallets have been tapped out. Indeed, consumer spending seems to be sustained on fumes as consumers spend more and more on gasoline, heating oil and food. Yet, in this regard, U.S. consumers are acting rationally: They are buying what they need, and less of what they don’t need.

Unfortunately, rationality has been missing from the words of most of our political leaders. Denial and avoidance have been in full bloom. Some still believe that sophisticated financial modeling can soften recessions into brief annoyances. Others mischaracterize the very definition of recession, suggesting that negative growth must persist for two consecutive quarters at least before the recession label can be applied. Some fear the “R” word will spread panic among the consuming classes, elongating or deepening any downturn. Of courses, politicians as a class abhor negative news, since rotten headlines are bad for the reelection business. A president, his legacy certainly in mind, would rather not have two recessions on his record.

Foreign politicians have avoided the “R” word, too. As the U.S. engine started stalling, leaders of the Organization for Economic Cooperation and Development countries contended that their economies should “decouple” from the Mother of All Markets.

It’s time for our leaders to lead with a plan to address the inevitability of an economy in distress. The NBER—arbiter of recessions past—defines a recession as a “significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production and wholesale-retail sales.” That’s all one needs to qualify, which means the U.S. is almost certainly either in one or on the knife’s edge.

The idea that American consumers might be spooked if their president, senators and representatives speak of recession is an understandable concern. But that might not be giving Americans enough credit. They are aware of the real-estate pandemic, the rising price of gas at the pump, and their skyrocketing heating bills.

Instead, why not bring a clarity of mind and purpose to the situation? The White House, Congress and industry leaders should hammer out a contingency plan to ease the stress of the economic slowdown, with setpoints marked to the severity of economic conditions. That sort of leadership would reassure consumers and the financial markets.

What the country doesn’t need is an expedient, shallow response of rebates or refunds, a “solution” that appears to be attracting bipartisan support. Former Clinton-era Treasury Secretary Larry Summers has been lobbying strongly for a cash infusion of $75 billion. White House communications folks have suggested more tax cuts be mentioned in the State of the Union address. Why not make it simple and send all Americans $500 or $1,000 consumer spending cards? Because in the end, such rebates reinforce the consumer economy model. In the third quarter of 2007, 72 percent of real U.S. GDP was composed of consumer spending. This is cyclically unsustainable. An election-year gift card might fill one’s gas tank for a few months, but it won’t address the fundamental, underlying challenges to the economy.

So far, surrealism prevails for the most part, with much of talk of resiliency and the American Dream. Plain speakers are few and far between. When the pain becomes undeniable, beware the solutions but welcome the analgesics. Recessions can’t be healed. They’re the medicine. And the less pain suffered during the recession because of a proactive plan, the better the recovery. (c) 2008 U.S. Banker and SourceMedia, Inc. All Rights Reserved. http://www.us-banker.com http://www.sourcemedia.com

http://www.americanbanker.com/usb_article.html?id=20080125Z9HNG9A1

 

[onedomino]

The FACTS are in.

President Bush inheireted a slumping economy, not only did he turn it around, but the economy achieved historical high points in many, categories, and was doing excellent a large majority of categories, due to PRESIDENT BUSH's policies.

And that sucess story has run on for over six years now, unprecedented length.

See that little baby you are holding in your avatar? That person is going to pay back the more than $3 trillion borrowed by Bush and Congress during the past seven years. What a nice gift to future generations. And what did we get for $3 trillion? Weak service based 2 to 3 percent economic growth, and lots of new Wal-Mart Super Centers, paying non living wages, and selling us Chinese stuff we used to manufacture. And not just cheap discount store things, but also computers, appliances, power tools, car parts, and other items from more sophisticated manufacturing. Meanwhile we pay the Chinese interest on our debt, sapping our strength further, as they steal our intellectual property such as software and film. Then we pay hundreds of billions per year to militarily contain the lunatics of the world while the Chinese do nothing to help, and in fact invest the billions they got from us to upgrade their nuclear weapns, modernize their conventional forces, and invest in the infrastructure of our enemies such as Iranian oil and gas. Back in 2001, we could have picked the first person to walk by on the street, given him $3 trillion, and he could have generated more economic sanity and growth than Bush and the Congress.

 

[nibor]

We really really must reindustrialize, we can do it cleaner and safer by laws already in place, and technologies already established than anywhere else on earth...................that was sold out along with the employee base............imported crap is taking our standard of living NOWHERE.............WHILE BY THE STANDARDS OF OUR ENEMIES WE'RE BEING DAMAGED AND QUALITY CONTROL IS ALMOST AS NONEXISTENT AS THE ENVIRONMENTAL STANDARDS THAT ALL THE TREATIES THAT EXIST AREN'T HELPING!!!!!!!!!!!!


Who gives a damn anymore about cheap.................nothing's cheap even by their standards, being price gouged by their standards, POISONED by their standards....................being sold by our standards and profiteering REIGNS SUPREME by any standard................so we get raped in soo many ways and inundated down to our very trash which they make sure is POISONED.

 

[Taomon]

The FACTS are in.

President Bush inheireted a slumping economy, not only did he turn it around, but the economy achieved historical high points in many, categories, and was doing excellent a large majority of categories, due to PRESIDENT BUSH's policies.

And that sucess story has run on for over six years now, unprecedented length.

Based on what? Here in MA there are phenomenal amounts of foreclosures and there have been for over four years. Businesses are closed down or swallowed up by comglomerates and investment firms. The amount of people on unemployment is surpassed by the amount of people who no longer qualify for benefits and now live outside of their means.

I am guessing you are working and living comfortably, how many homeless live in your state? How many poor on welfare and SSI? How many working class striggling to make ends meet?

 

[Helios]

Note that RPG always flaunts his faux reports, but never defends them. Thats because there IS NO evidence to support it. Oops.

 

[Shogun]

Note that RPG always flaunts his faux reports, but never defends them. Thats because there IS NO evidence to support it. Oops.

You might as well develop a THICK SKIN because posting evidence isn't as important as, say, whose shoulder you can cry on.

 

[Toro]

Preliminary GDP was released today. The fourth quarter grew 0.6%, skirting on a recession. For 2007, the economy grew 2.0%, the slowest rate since 2003.

Preliminary GDP will be revised twice before the final number is printed.

 

[nibor]

Well personally I'm buying some sun screen....................that I'll proceed to use as an ENEMA!!!!!!!!!!!!

 

[nibor]

http://realestate.msn.com/Buying/Article2.aspx?cp-documentid=6119523&GT1=10833



HERE'S YOUR ROBUST ECONOMY.........................


Everything else is a deception and a lie..................

 

[jillian]

The FACTS are in.

President Bush inheireted a slumping economy, not only did he turn it around, but the economy achieved historical high points in many, categories, and was doing excellent a large majority of categories, due to PRESIDENT BUSH's policies.

And that sucess story has run on for over six years now, unprecedented length.

Yeah, sure he has. lol... lol.. lol...

But glad you know Bush's policies are responsible for the shape of the economy. That's a start, at least.

http://usmessageboard.com/showthread.php?t=52580

 

[nibor]

Unprecidented length huh I believe somebody was measuring the wrong thing on the table....................pencilnecks can be so egotistical, even WITH a magnifying glass...............

 

[Boomer]

David Walker, Comptroller General and head of the GAO, was interviewed a couple of months ago on 60 Minutes. I assume they aired this interview because it was critical of the Bush administration, but Walker is our top accountant (nonpartisan) and he was simply trying to warn us all of the upcoming doom.

He warned that if the current spending continues, this country will be filing bankruptcy within 10 years. Then the Iraq War controversy won't matter anymore.

So it doesn't really matter whose administration, Clinton's or Bush's, was in what economic condition. The fact is that we will have a depression, not a recession, one of these days. That's why many economic experts are telling us to buy gold, as in coins, to use for barter when we wake up one day and the money in our bank accounts is finally worthless. if you don't want to believe that, then buy gold for an investment because overall it's trend is always up, especially in inflationary times like this.

By the way, Walker made no mention of him, but this dire economic warning (not the part about the gold, although he probably approves) has been Ron Paul's main message. The other candidates in both parties will only bring us more of the same, as they think Paul is a crank. But in one of the debates he answered, do you mean I'm a crank because I believe in the constitution, or do you mean the republican party doesn't believe in the constitution, or do you mean I'm out of the mainstream of the republican party because I believe in the constitution?

 

[finebead]

CAVUTO: Because by the way, you didn't give this president credit for at least attempting to address it. He was shot down by members of his party and the Democrats.

GREENSPAN: Let me say this. My basic problem is with the Republican Congress. My problem with the president is that he did not use the veto sufficiently. It was not he who essentially created the agriculture policy or, I should say, the agricultural program or the highway bill. He would have — he was coming in much lower.

But, instead of vetoing a lot of that stuff, it came through.

CAVUTO: So you say he needs to start vetoing, right? So now he's got — he's got a big. Well, wait. He's got a big transportation bill, right? It's a $100 billion plus bill. Should he veto?

GREENSPAN: He'd better start vetoing certain stuff, because we are getting into the demographic issues wholly unprepared. We cannot afford to have procedures which lead us into the longer-term period.

..snip..

GREENSPAN: I certainly do not. I admire both the Senior Bush and the Junior Bush who I've gotten along with exceptionally well. My basic problem is my concern about the Republican Party in which I have been brought up. And this is not the fiscal policies of the Republican Party of Goldwater, which I so strongly supported.

CAVUTO: So, they abandoned you, you didn't abandon them?

GREENSPAN: Well, I don't want to say anybody abandoned anybody, I'm just basically saying that I think we've lost our way.

CAVUTO: But you like Bill Clinton?

GREENSPAN: I thought Bill Clinton was the best Republican president we've had in a while.

CAVUTO: You put him up there with Richard Nixon in terms of brilliance, right?

GREENSPAN: Both of them had all sorts of problems ...

CAVUTO: OK, all righty.

GREENSPAN: ...but, as far as IQ is concerned, both are terrific.

http://www.foxnews.com/story/0,2933,297250,00.html

Greenspan knows who's fiscally responsible, and who's NOT. Clinton was much better in his stewarship of the economy.

 

[jreeves]

The FACTS are in.

President Bush inheireted a slumping economy, not only did he turn it around, but the economy achieved historical high points in many, categories, and was doing excellent a large majority of categories, due to PRESIDENT BUSH's policies.

And that sucess story has run on for over six years now, unprecedented length.

What are you talking about the economy is not great? We could or are in a recession that is not great, no matter how you slice it. I know Republicans just want to simply defend Bush but defecit spending is out of control. That is causing the ever dropping value of the US dollar. We must get defecit spending under control and at least balance our national budget. Come on 480 billion dollars in interest payments on the national debt that's absurd.