Opinions on a very weak GDP and the failed stimulus

Discussion in 'Economy' started by JRK, Apr 27, 2012.

  1. JRK
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    JRK Senior Member

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    It has become very apparent the re distribution of 1 trillion in dollars of wealth did very little to spur growth
    http://www.google.com/url?sa=t&rct=...guSADw&usg=AFQjCNFAxPM_FxFbqYLDROugPAbCELn1Yg
    2.2% Is really worse than it looks as it began from the catastrophic numbers of 2009

    To have went from the govt spending 2.7 trillion with the last GOP budget in 2007 to 3.7 trillion in 2010, we have very little to show for it
    UE benefits being extended with the tarp program as GWB and Hank P used it for is money good spent, the rest is hard to understand what exactly what it was to do

    land based oil exploration in any state that holds those resources
    New refineries in any state that would welcome those jobs
    same with pipe-line distribution
    Transition coal based power to natural gas turbines
    Nuclear
    well regulated, but allowed the chance to generate wealth for all now, not 5 years from now
    Have a one time tax free holiday for the trillions of cash that is sitting over seas due to tax policy
    Tax revenue is driven off of our GDP. With spending levels at record levels we cannot stop this train wreck with just spending cuts
    More wealth earned thru the free market will in a very short time un-do the mess the housing bubble has caused

    I can assure you that ND has no issue with any bubbles
     
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  2. SniperFire
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    SniperFire Senior Member

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    It gets worse.


    [​IMG]
     
  3. JRK
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    JRK Senior Member

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    This has been the biggest failure with BHO
    If he was in the private sector Sarbanes Oaxly would have him under investigation

    It is no different than what Enron did. bad forecasting is what brought Enron down. It is the very reason for Sarbanes Oaxly
     
  4. Oddball
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    Oddball BANNED Supporting Member

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    This is worse than what Enron did....Nobody with any economic sense believed that the economic succubus was going to work.
     
  5. Claudette
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    Claudette Gold Member

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    You bet. Its has never worked in the past so why in hell would anyone think it would work now??

    Idiots one and all.
     
  6. JRK
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    JRK Senior Member

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    It is a re distribution of wealth
    Its funny that not one Liberal has commented on this thread
     
  7. Oddball
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    Oddball BANNED Supporting Member

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    It was straight-up payola graft to NEA, AFT, AFSCME and excessive state spending.

    Hell, at least Madoff had some possessions to liquidate.
     
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  8. AquaAthena
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    AquaAthena INTJ/ INFJ

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    No kidding.

    "With six months to go until Election Day, time just ran out for Team Obama to run any sort of plausible “Morning in America” reelection campaign. And it’s not just that the U.S. economy grew at a subpar 2.2% annual rate in the first quarter, according to the Commerce Department.

    It’s that this may be about as good as it gets for the economy this year. Most analysts have been looking for the second quarter to be no better—if not worse—than the first.

    So we could end up having a first half of the election year with GDP growth near 2% or below. As Citigroup puts it: “

    … 1Q GDP data should limit remaining optimism that U.S. economic growth will accelerate significantly this year.” And IHS Global Insight says it’s “looking for second-quarter growth to be similar to the first—around 2%.”

    How bad is that???? Read how, here:

    Weak GDP report clouds Obama’s reelection chances « The Enterprise Blog
     
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  9. NYcarbineer
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    NYcarbineer Diamond Member

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    Couldn't you say the same thing about the 800 billion dollar extension of the Bush tax cuts + new cuts?
     
  10. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Your assuming they were looking for the same results you were. Even with no growth their goals were achieved.
     

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