Is This The 1970s All Over?

[rightwinger]

It's worse. We didn't have deficit spending at 10% of GDP. SS was more solvent as the ratio of workers to retirees was higher. Medicare was also in better shape.

As bad as the 70s were, we didn't inflict the enormous structural damage to the economy that Obamanomics has done.

We TRIPLED the national deficit under Reagan....everything he did was on credit

 

[The Rabbi]

We have deflation now. The government's response, particularly the Fed's, has been massively inflationary. The issue is whether or not the Fed will be able to withdraw their injections of reserves into the financial system soon enough to prevent inflation. I don't believe they will. In fact, I think in the future the government will tacitly endorse inflation to deal with the massive liabilities that will begin to overwhelm the government in the future.

Factually wrong. Of course coming from the guy who says the US housing bubble was caused by the South Africans, what can you expect.
The inflation numbers are still positive. There is a fear of deflation. We have entered a period of stagdeflation, marked by no growth except larger gov't deficits and steadily eroding prices. Obama's actions will help this process along, removing anything dynamic in this economy in favor of propping up old industries dominated by unions.

Where do you get this stuff, The Rabbi? It reads like economic analysis as performed by monkeys.

I dun suppose you have a fact or two....not that I even know wtf your premise is.

How can we have "stagdeflation"? WTF is that, anyway? Are you sure you are hearing talk radio correctly?

FT.com / US / Economy & Fed - US inflation muted as wholesale prices fall
Fact or two?
Fact: Inflation is running slightly below 3%. Prices are rising, not falling.
Fact: The rate of price rise is declining, suggesting deflation in the future.
Fact: The only expansion in the economy has been due to massive gov't spending. Any private sector growth is weak and probably due to anticipated changes in the tax laws (read: expiration of Bush tax cuts in January).

The logical conclusion is that Obama's policies have utterly failed and we are heading to a lost decade like the Japanese had, with ultra low interest rates, stimulus after stimulus, and no real economic growth. All of this was predicted when the stimulus bill was first proposed, btw.

 

[The Rabbi]

It's worse. We didn't have deficit spending at 10% of GDP. SS was more solvent as the ratio of workers to retirees was higher. Medicare was also in better shape.

As bad as the 70s were, we didn't inflict the enormous structural damage to the economy that Obamanomics has done.

We TRIPLED the national deficit under Reagan....everything he did was on credit

And we had the largest expansion of the economy post WW2 until the recession in 1990.
What are we getting for obama's TRIPLING of Reagan's deficit?

 

[rightwinger]

We have deflation now. The government's response, particularly the Fed's, has been massively inflationary. The issue is whether or not the Fed will be able to withdraw their injections of reserves into the financial system soon enough to prevent inflation. I don't believe they will. In fact, I think in the future the government will tacitly endorse inflation to deal with the massive liabilities that will begin to overwhelm the government in the future.

Factually wrong. Of course coming from the guy who says the US housing bubble was caused by the South Africans, what can you expect.
The inflation numbers are still positive. There is a fear of deflation. We have entered a period of stagdeflation, marked by no growth except larger gov't deficits and steadily eroding prices. Obama's actions will help this process along, removing anything dynamic in this economy in favor of propping up old industries dominated by unions.

Where do you get this stuff, The Rabbi? It reads like economic analysis as performed by monkeys.

I dun suppose you have a fact or two....not that I even know wtf your premise is.

How can we have "stagdeflation"? WTF is that, anyway? Are you sure you are hearing talk radio correctly?

According to Rabbi.......Staginflation....Stagdeflation

Hell...we have stag something or another

 

[Greenbeard]

And we had the largest expansion of the economy post WW2 until the recession in 1990.
What are we getting for obama's TRIPLING of Reagan's deficit?

If you want to make this analogy between administrations, this month is the equivalent of August 1982. As already pointed out to you above in this thread, we'd then still be a few months away from the 10.8% unemployment rate of November and December 1982.

Presumably you don't believe it would have made sense to draw definitive conclusions about Reagan's economic performance in August of 1982? Because employment-wise, at this point in Reagan's first term things were continuing to get worse.

 

[rightwinger]

Factually wrong. Of course coming from the guy who says the US housing bubble was caused by the South Africans, what can you expect.
The inflation numbers are still positive. There is a fear of deflation. We have entered a period of stagdeflation, marked by no growth except larger gov't deficits and steadily eroding prices. Obama's actions will help this process along, removing anything dynamic in this economy in favor of propping up old industries dominated by unions.

Where do you get this stuff, The Rabbi? It reads like economic analysis as performed by monkeys.

I dun suppose you have a fact or two....not that I even know wtf your premise is.

How can we have "stagdeflation"? WTF is that, anyway? Are you sure you are hearing talk radio correctly?

FT.com / US / Economy & Fed - US inflation muted as wholesale prices fall
Fact or two?
Fact: Inflation is running slightly below 3%. Prices are rising, not falling.
Fact: The rate of price rise is declining, suggesting deflation in the future.
Fact: The only expansion in the economy has been due to massive gov't spending. Any private sector growth is weak and probably due to anticipated changes in the tax laws (read: expiration of Bush tax cuts in January).

The logical conclusion is that Obama's policies have utterly failed and we are heading to a lost decade like the Japanese had, with ultra low interest rates, stimulus after stimulus, and no real economic growth. All of this was predicted when the stimulus bill was first proposed, btw.

As expected the link doesn't work........it wouldn't support th egloom and doomanyway

 

[bigrebnc1775]

Where do you get this stuff, The Rabbi? It reads like economic analysis as performed by monkeys.

I dun suppose you have a fact or two....not that I even know wtf your premise is.

How can we have "stagdeflation"? WTF is that, anyway? Are you sure you are hearing talk radio correctly?

FT.com / US / Economy & Fed - US inflation muted as wholesale prices fall
Fact or two?
Fact: Inflation is running slightly below 3%. Prices are rising, not falling.
Fact: The rate of price rise is declining, suggesting deflation in the future.
Fact: The only expansion in the economy has been due to massive gov't spending. Any private sector growth is weak and probably due to anticipated changes in the tax laws (read: expiration of Bush tax cuts in January).

The logical conclusion is that Obama's policies have utterly failed and we are heading to a lost decade like the Japanese had, with ultra low interest rates, stimulus after stimulus, and no real economic growth. All of this was predicted when the stimulus bill was first proposed, btw.

As expected the link doesn't work........it wouldn't support th egloom and doomanyway

It works you just have to register. Sometimes you must walk away from the midset that everything is free.

 

[The Rabbi]

FT.com / US / Economy & Fed - US inflation muted as wholesale prices fall
Fact or two?
Fact: Inflation is running slightly below 3%. Prices are rising, not falling.
Fact: The rate of price rise is declining, suggesting deflation in the future.
Fact: The only expansion in the economy has been due to massive gov't spending. Any private sector growth is weak and probably due to anticipated changes in the tax laws (read: expiration of Bush tax cuts in January).

The logical conclusion is that Obama's policies have utterly failed and we are heading to a lost decade like the Japanese had, with ultra low interest rates, stimulus after stimulus, and no real economic growth. All of this was predicted when the stimulus bill was first proposed, btw.

As expected the link doesn't work........it wouldn't support th egloom and doomanyway

It works you just have to register. Sometimes you must walk away from the midset that everything is free.

Which is funny because i got to ti without registering.
Of course what I write is true. Nutwinger and his friends can't bear to hear it though. They even have their PCs set to filter out anti-Obama messages.

 

[bigrebnc1775]

As expected the link doesn't work........it wouldn't support th egloom and doomanyway

It works you just have to register. Sometimes you must walk away from the midset that everything is free.

Which is funny because i got to ti without registering.
Of course what I write is true. Nutwinger and his friends can't bear to hear it though. They even have their PCs set to filter out anti-Obama messages.

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[uscitizen]

How will we have a recovery without inflation?

The economy was zooming with High energy prices.

But without jobs how can we pay more for stuff?

 

[Toro]

Seems just as likely there will be deflation, Toro.

We have deflation now. The government's response, particularly the Fed's, has been massively inflationary. The issue is whether or not the Fed will be able to withdraw their injections of reserves into the financial system soon enough to prevent inflation. I don't believe they will. In fact, I think in the future the government will tacitly endorse inflation to deal with the massive liabilities that will begin to overwhelm the government in the future.

Factually wrong. Of course coming from the guy who says the US housing bubble was caused by the South Africans, what can you expect.

Dude, if you think that what I'm arguing is that foreigners caused our problems, you really don't understand what is going on. You've been wrong about simple facts so many times - such as below - I'm amazed at your capacity to still post.

The inflation numbers are still positive. There is a fear of deflation. We have entered a period of stagdeflation, marked by no growth except larger gov't deficits and steadily eroding prices. Obama's actions will help this process along, removing anything dynamic in this economy in favor of propping up old industries dominated by unions.

This is NOT stagflation. Stagflation means high unemployment AND high inflation. Inflation of 1% or 2% does not qualify as "high" inflation - though I'm sure partisan hacks will try to spin it as such. Stagflation of the 70s had double-digit inflation.

A housing-induced credit collapse is deflationary. The forces in the economy are deflationary. The only reason why we haven't had real deflation is because of the massive government programs.

 

[The Rabbi]

This is an updated stagflation: high unemployment, stagnant wages, stagnant prices, and a stagnant economy.

 

[Flopper]

In the mid-late 1970s Jimmy Carter was president.
We had growing stagflation.
We had a weak foreign policy.
We had a GOP weakened from Watergate and Democratic control in Congress and the White House
We had high taxes
We had obstreperous unions
We had ugly cars like the AMC Pacer and Gremlin
We had ugly music like disco
We were told WE were the problem

Now Obama is president.
We have growing stagflation
We have a weak foreign policy
We have a GOP weak from the Bush years
We have rising taxes
We have obstreperous unions
We have ugly cars like the Cube
We have ugly music like techno and rap
And we're being told we're the problem.

Coincidence?

Well this takes the cake. Obama has been blamed with everything from the deficit to Afghanistan. Now he is responsible for ugly music and ugly cars? I would love hear your reasoning.

 

[uscitizen]

This is an updated stagflation: high unemployment, stagnant wages, stagnant prices, and a stagnant economy.

And that is the best we can expectt for years down the road.

 

[Madeline]

Believe it or not, uscitizen, that might be a best case scenario.

Runaway inflation would be much, much worse.

And deflation scares the pee outta me.

 

[uscitizen]

I understand and agree.

$5 gas will cause an economic recovery on paper but the pain will be awesome on the people.

 

[The Rabbi]

In the mid-late 1970s Jimmy Carter was president.
We had growing stagflation.
We had a weak foreign policy.
We had a GOP weakened from Watergate and Democratic control in Congress and the White House
We had high taxes
We had obstreperous unions
We had ugly cars like the AMC Pacer and Gremlin
We had ugly music like disco
We were told WE were the problem

Now Obama is president.
We have growing stagflation
We have a weak foreign policy
We have a GOP weak from the Bush years
We have rising taxes
We have obstreperous unions
We have ugly cars like the Cube
We have ugly music like techno and rap
And we're being told we're the problem.

Coincidence?

Well this takes the cake. Obama has been blamed with everything from the deficit to Afghanistan. Now he is responsible for ugly music and ugly cars? I would love hear your reasoning.

Do you see any place where I blame Obama for car design? Granted, he has taken over GM so he owns them, including the disgusting Volt, sure to be a flop.
Obama has been in office nearly 2 years. At what point can we say he is responsible for any of it? Or are we in the era of deferred responsibility, where everything good is because of Obama and everything because of Bush?

 

[uscitizen]

In the mid-late 1970s Jimmy Carter was president.
We had growing stagflation.
We had a weak foreign policy.
We had a GOP weakened from Watergate and Democratic control in Congress and the White House
We had high taxes
We had obstreperous unions
We had ugly cars like the AMC Pacer and Gremlin
We had ugly music like disco
We were told WE were the problem

Now Obama is president.
We have growing stagflation
We have a weak foreign policy
We have a GOP weak from the Bush years
We have rising taxes
We have obstreperous unions
We have ugly cars like the Cube
We have ugly music like techno and rap
And we're being told we're the problem.

Coincidence?

Well this takes the cake. Obama has been blamed with everything from the deficit to Afghanistan. Now he is responsible for ugly music and ugly cars? I would love hear your reasoning.

Do you see any place where I blame Obama for car design? Granted, he has taken over GM so he owns them, including the disgusting Volt, sure to be a flop.
Obama has been in office nearly 2 years. At what point can we say he is responsible for any of it? Or are we in the era of deferred responsibility, where everything good is because of Obama and everything because of Bush?

But Clinton was responsible for the recession early in the bush presidency?

LMAO, JUst LMAO.

 

[Madeline]

The Rabbi, the economy of The Entire World is distressed right now. What part do you think Obama had in that? Or do you think the US is an economic island?

And what exactly do you think McCain would have done so far superior to Obama that we'd have little unemployment now? (Presumably you are not complaining because inflation is too low...that'd be kinda dumb.)

The federal government can affect the US economy, but it does not operate it. See the difference?

 

[rightwinger]

This is an updated stagflation: high unemployment, stagnant wages, stagnant prices, and a stagnant economy.

Of course ...Rabbi revises the definition of stagflation to remove the one key element......Inflation