obama's continual campaign lie?

Discussion in 'Current Events' started by washamericom, Sep 3, 2010.

  1. washamericom
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    washamericom Gold Member

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    today and just about everyday the president of obama comes out and says "i saved you from the worst economic disaster since the great depression"
    could some one explain how this recession is worse than the cater years when the misery index was 20 + %


    The misery index is an economic indicator, created by economist Arthur Okun, and found by adding the unemployment rate to the inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation create economic and social costs for a country.[1] It is often incorrectly attributed to Chicago economist Robert Barro in the 1970s, due to the Barro Misery Index that additionally includes GDP and the bank rate.[2]
     
  2. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    No Lie..


    Late-2000s recession - Wikipedia, the free encyclopedia

    Several economists have predicted that recovery may not appear until 2011 and that the recession will be the worst since the Great Depression of the 1930s. Paul Robin Krugman, who won the Nobel Memorial Prize in Economics, once commented on this as seemingly the beginning of "a second Great Depression." The conditions leading up to the crisis, characterized by an exorbitant rise in asset prices and associated boom in economic demand, are considered a result of the extended period of easily available credit, inadequate regulation and oversight, or increasing inequality.

    The late-2000s recession is shaping up to be the worst post-World War II contraction on record:[73]

    Real gross domestic product (GDP) began contracting in the third quarter of 2008, and by early 2009 was falling at an annualized pace not seen since the 1950s.[74]
    Capital investment, which was in decline year-on-year since the final quarter of 2006, matched the 1957–58 post war record in the first quarter of 2009. The pace of collapse in residential investment picked up speed in the first quarter of 2009, dropping 23.2% year-on-year, nearly four percentage points faster than in the previous quarter.
    Domestic demand, in decline for five straight quarters, is still three months shy of the 1974–75 record, but the pace – down 2.6% per quarter vs. 1.9% in the earlier period – is a record-breaker already.
     
    Last edited: Sep 3, 2010
  3. washamericom
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    washamericom Gold Member

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    thanks r.w. and i was only kidding about "i thought you already read a book" when in truth, you've read many. so most agree with, this is the worst?
    while you're on a roll. everybody say's we were on the verge of collapse. what really would have happened? also, do you mind if i post this dialog on my site?
     

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