Per Capital GDP Growth by President

Discussion in 'Economy' started by Toro, Feb 9, 2011.

  1. Toro
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    Toro Diamond Member

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    A Few Graphs Describing the Reagan Presidency
     
  2. Zander
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    Zander Platinum Member

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    and.....
     
  3. william the wie
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    william the wie Gold Member

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    You have to remember that G (Government expenditures) is always counted as additive to GDP a much better way to measure is to use only private sector GDP.
     
  4. xsited1
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    xsited1 Agent P

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    And this means nothing, but Toro will never, ever figure it out.

    Taking Stock of the Parties | Richard W. Rahn | Cato Institute: Commentary

    Also notice how the graph goes all the way back to FDR. There have been significant changes in the two political parties over the years, but Toro always likes to look at a ton of data regardless of whether it is significant or not.

    No offense.
     
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  5. william the wie
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    william the wie Gold Member

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    I think that criticism is a bit harsh. Toro is a fiscally conservative D based on his posts and his job requires looking at a ton of data. However OPs like this one gains him access to data like your link that he doesn't have time to get on his own and I do the same thing to guide my trades so I think you have misunderstood the cause of this thread. I am a community assistant at another more left leaning board and I pick up a lot of actionable intelligence from people who just want go "Nyah-nyah so is your mudder." to me. I pick up much less intelligence on this board and even less on another more libertarian board that I enjoy posting on. You don't learn much from people who share your POV.
     
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  6. xsited1
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    xsited1 Agent P

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    Not harsh at all if you know the history. He's been openly hostile to me on numerous occasions and the mistakes he makes in analyzing data are blatantly obvious. The fact that he starts a thread with 'growth by President' further proves he's clueless.

    BTW, did you get out of the market before it crashed a few years ago? I did. If you didn't, why not?
     
  7. william the wie
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    william the wie Gold Member

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    Actually I stick to a strategy that doesn't have a position on whether or not the market goes up or down which most people can't stomach and a small negative carry that blows off most professional traders. So unless you can stomach a lot of small losses and the relatively rare jackpot you probably don't want to know about my strategies.
     
  8. Toro
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    Toro Diamond Member

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    First of all, this thread is not about the stock market. It is about the economy. The economy is not the stock market. At the beginning of 1966, the Dow Jones Industrial Average was 969. At the end of 1981 it was 875. During that time, real GDP of the United States rose from roughly $800 billion to $3.2 trillion. People who equate the performance of the stock market with the economy have a shallow understanding of how financial markets work in relation to the economy.

    Xsited, you are an intelligent guy but you are making a basic mistake equating the two. You are also engaging in data mining and exhibiting confirmation bias to support your ideological worldview, which is common for people attempting to reinforce deeply held beliefs. Using a piece by the CATO Institute detailing the past 25 years as evidence of the efficacy of political influence on the financial markets and economy when we have experienced two of the biggest asset bubbles of all time during those years is the highest of fallacies. I have repeatedly cautioned both liberals and conservatives alike not to use the stock market as a barometer for economic success because it often gives false readings. The Venezuelan stock market under Chavez far outperformed the US stock market under Bush (+96% v -32% in US dollars from 01 to 08), but is anyone really going to make the case that Chavez is more pro-business than Bush? Asset markets have their own rhythm often separate and away from politics, but political partisans want to look at the world through an ideological prism when forces outside of politics often drive events.

    I believe that highly ideological people on both sides of the political spectrum deeply underestimate the capacity and industriousness of the American people. I did not post this thread as a testament to the wisdom of Democrat policies and Presidents, nor am I arguing that Democrats and economic performance are causal. Far from it. I generally support less government, lower taxes, fiscal responsibility, less regulation and free trade, which are generally thought of as conservative policies. My political hero is Margaret Thatcher and I thought Reagan was a good President. I posted this primarily out of general interest but also as a rebuttal to conservative ideologues who insist upon emphasizing politics in the economy. Politics and policies matter but they generally matter much less than partisans believe. This is also true of liberals who, for example, overstate the affects of FDR’s New Deal, or who believe that Republicans and Bush are the primary causes of the Financial Crisis. The argument that I have repeatedly made has been that partisans and ideologues skew data to support their political beliefs, or in this case, to support policies of their political icons.
     
  9. rdean
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    rdean rddean

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    Anyway you care to look at it, Republicans, for the most part have been failures at government. No surprise since they tell us constantly how much they hate it.
     
  10. william the wie
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    william the wie Gold Member

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    If you had included "and Democrats" your statement would have some value.
     

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