I'm not embarrassed because I didn't vote for him...

[MaggieMae]

So now you're a fucking economist? Where do you get a Ph.D in 24 hours?

Uh yeah I am, dumbass.

I have an MBA, not a Ph.D.

If you are, it's been wasted.

 

[MaggieMae]

Wait.....is the OP wanting our President to be jetting to Japan to help hand out emergency supplies himself?

Please, Obama has been absent and painfully slow to respond to almost everything that has been thrown his way.

Take Libya for example. Now, after the Rebels have been all but Defeated, NOW he starts talking about a no Fly Zone.

Obama is like a Deer caught in headlights half the time. Not that it is entirely his fault. After all he was vastly un-qualified for the position, and we all knew it when we elected him. The problem is he does not seem to be getting any better at it as time goes on.

Yeah, the neocon approach would have been to jump right in with ground troops. Then we'd have 3 wars in the region going for us. There was obviously a lot of pushing and pulling between the Pentagon and the State Department during the past two weeks over which would be the best strategy, and frankly, I'm pissed that he finally decided to go along with the no-fly zone. I know damned well what that means. More American blood spilled on foreign soil and a bigger bite out of the budget for the Pentagon to fight a third war because "coalitition forces" will let American forces do all the dirty work.

 

[MaggieMae]

Yes indeedy. The numbers ARE what they are. And this is a review of tax cuts/revenue/income losses resulting from those glorious Bush years you speak of.

Look you're a leftist; which means two things: One, you have NO fucking clue about economics. Reading that drooling blowhard Krugman only substantiates the fact. Two, you're not real bright..

The GDP numbers are the result of productivity, which results from, simply put, income and output.

You lack the most basic of fundamentals. You lack the knowledge of what a recession is.

It has nothing to do with "I'm jealous of the mean rich," as you of the left seem to think.

A recession is simply the real decline in GDP over two consecutive quarters. Period - nothing about HATE BUSH, or "TAX BREAKS FOR THE RICH" or any of the other pablum you mindless fucks spew.

Decline in GDP for two of more quarters.

The depth of a recession is measured in the aggregate decline therein. For the latest recession the aggregate decline was 3.7%

Think this through - or ask a conservative you know to think for you, 9.6% plummet in a single quarter versus 3.7% over 19 months...

Hmmm tricky, isn't it?

Measuring GDP is complicated

You need to take my class, or any introduction to economics course.

The basic formula for calculating the GDP is:

Y = C + I + E + G

where

Y = GDP

C = Consumer Spending

I = Investment made by industry

E = Excess of Exports over Imports

G = Government Spending

Look, know-it-all, stop putting things into your posts that I never said, nor even referred to. I don't read Paul Krugman, and I have not mentioned "hating Bush" nor that "tax breaks for the rich" caused the recession.

A recession is determined by decline in GDP of four quarters, not two. And GDP's simple and basic measurement IS input and output, genius.

GDP - Definition and Summary of GDP Gross Domestic Product

How GDP Is Calculated:

To calculate real GDP, the BEA makes three important distinctions:

--Imports and income from U.S. companies and people from outside the country are not included, so the impact of exchange rates and trade policies don't muddy up the number.

--The effects of inflation are taken out.

--Only the final product is counted, so that if someone in the U.S. makes shoelaces, and it is used to make shoes in the U.S. (there are a few companies left!) only the value of the shoe gets counted.

GDP Growth Rate:

GDP is measured by the BEA quarterly. The BEA revises estimates as it receives better data throughout the next quarter. To compute economic growth, it compares each quarter to the previous one. For a summary of all GDP growth reports since Q4 2006, see GDP Current Statistics
...
Recent GDP Trends:

The 2000 recession was over by 2003, growing 2.5%, and expanding 3.6% in 2004. In 2005, Hurricane Katrina slowed growth to 2.9% in 2005. By March 2006, the economy recovered to 4.8% with the housing bubble peak. But high oil prices dragged on growth the rest of 2006, which only grew 2.7%. (Source: BEA, GDP News)

The economy only grew 1.2% in the first quarter of 2007 as the housing bubble popped. A falling dollar boosted exports, spurring growth to 3.2% in the second and 3.6% in the third quarters. When the Subprime Mortgage Crisis hit in October, growth slowed to 2.1%. Overall, the economy expanded 2.1% in 2007.

In 2008 and 2009, the economy contracted for four consecutive quarters. The last time this happened? The Great Depression. The economy fell .7% in Q1 2008 with the Bear Stearns bailout, but resumed 1.5% growth by Q2. When the banking system imploded in the third quarter, the economy shrank 2.7%. The Lehman Brothers collapse delivered the death blow--the economy dropped 5.4% in Q4, growing only .4% for the year. GDP plummeted 6.4% in Q1 2009. By the second quarter, the economic stimulus package started to work: the economy shrank only .7% in Q2. It finally grew 2.2% in Q3 and 5.6% in Q4.(Source: GDP Current Statistics)

If you've got an MBA, what does that mean from where I sit?

MIND BOGGLING ASSHOLE

"Leftists" had NOTHING TO DO WITH the investment bank failures, genius.

 

[LilOlLady]

I do not like Obama at all but he can't issue some word of wisdon or solve every issue every time. I agree with him playing golf. At least while he is on the course he is not screwing up my life. We need an American for President and don't start that birther crap on me.

Are you not one of those who believe in personal responsiblity? If you had personal responsibility Obama could not screw up your life. I am my own keeper and nothing Obama has done can touch me. Obama don't want to be responsible for you but there are other Ameicans that he need to protect from the Reich.
You can bet your butt when his is playing golf he is at work for this country. He can do more them one thing at a time. Unlike Bush. He cannot think and act at the same time.

 

[Uncensored2008]

Apparently you don't either if you assume the recession began in 2008. But I digress to my own opinion of your logic.

Really?

You drew that conclusion by shoving your head up your ass, I assume?

 

[Uncensored2008]

Look, know-it-all, stop putting things into your posts that I never said, nor even referred to.

ROFL

You don't take kindly to having your ignorance exposed.

A recession is determined by decline in GDP of four quarters, not two.

{Many professionals and experts around the world believe that a true economic recession can only be confirmed if GDP (Gross Domestic Product) growth is negative for a period of two or more consecutive quarters.}

Definition | RECESSION.ORG

Try again, sparky.

And GDP's simple and basic measurement IS input and output, genius.

You claimed it to be so complicated that no one outside the hallowed halls of government could possibly understand it.

I simply pointed out that GDP is a simple formula.

The 2000 recession was over by 2003, growing 2.5%, and expanding 3.6% in 2004.

So?

That in no way alters the fact that the 1980-82 recession was far deeper than the 07-09 recession.

The claim that this is the "worst recession since the depression" is partisan hype.

If you've got an MBA, what does that mean from where I sit?

You can sit wherever you want. I suspect you generally sat at the back of the class and threw spitwads instead of paying attention.

"Leftists" had NOTHING TO DO WITH the investment bank failures, genius.

Yer just sharp as a marble, aren't you.

First off, I was pointing out that the hype your party is promoting regarding the recent recession is false.

BUT if you want to get into the details of what caused the housing bubble and caused it to burst, we can.

Let's start with a few basics.

What is CRA? What is the significance of CRA/LMI in regard to stated income ARMs? When was the historic event of a US Attorney General filing civil, rather than criminal charges? What is the significance, what was the reason for her filing?

 

[MaggieMae]

Let's start with a few basics.

What is CRA? What is the significance of CRA/LMI in regard to stated income ARMs? When was the historic event of a US Attorney General filing civil, rather than criminal charges? What is the significance, what was the reason for her filing?

President Bush Signs American Dream Downpayment Act of 2003

The rate of homeownership in America now stands a record high of 68.4 percent. Yet there is room for improvement. The rate of homeownership amongst minorities is below 50 percent. And that's not right, and this country needs to do something about it. We need to -- (applause.) We need to close the minority homeownership gap in America so more citizens have the satisfaction and mobility that comes from owning your own home, from owning a piece of the future of America.

Last year I set a goal to add 5.5 million new minority homeowners in America by the end of the decade. That is an attainable goal; that is an essential goal. And we're making progress toward that goal. In the past 18 months, more than 1 million minority families have become homeowners. (Applause.) And there's more that we can do to achieve the goal. The law I sign today will help us build on this progress in a very practical way.

Many people are able to afford a monthly mortgage payment, but are unable to make the down payment. So this legislation will authorize $200 million per year in down payment assistance to at least 40,000 low-income families. These funds will help American families achieve their goals, and at the same time, strengthen our communities.

Get Me ReWrite! | The Big Picture

Specifically, I have requested some data or evidence that DISPROVED the following facts:

-The origination of subprime loans came primarily from non bank lenders not covered by the CRA;

-The majority of the underwriting, at least for the first few years of the boom, were by these same non-bank lenders

-When the big banks began chasing subprime, it was due to the profit motive, not any mandate from the President (a Republican) or the the Congress (Republican controlled) or the GSEs they oversaw.

-Prior to 2005, nearly all of these sub-prime loans were bought by Wall Street — NOT Fannie & Freddie

-In fact, prior to 2005, the GSEs were not permitted to purchase non-conforming mortgages.

-After 2005, Fannie & Freddie changed their own rules to start buying these non-conforming mortgages — in order to maintain market share and compete with Wall Street for profits.

-The change in FNM/FRE conforming mortgage purchases in 2005 was not due to any legislation or marching orders from the President (a Republican) or the the Congress (Republican controlled). It was the profit motive that led them to this action.

Care to take a stab at DISPROVING any of the above? Sparky?
Barry Ritholtz, Curriculum Vitae | The Big Picture

 

[Uncensored2008]

Let's start with a few basics.

What is CRA? What is the significance of CRA/LMI in regard to stated income ARMs? When was the historic event of a US Attorney General filing civil, rather than criminal charges? What is the significance, what was the reason for her filing?

Care to take a stab at DISPROVING any of the above? Sparky?
Barry Ritholtz, Curriculum Vitae | The Big Picture

So the answer is "no," you don't know what CRA is, you don't know that Janet Reno took the unprecedented step of having the US government sue banks which failed to meet CRA/LMI goals and instead can only cut and past from a leftist site something you hope will be relevant?