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holy crap! you give kissmy a goldbug chart that certainly looked like the economy peaked before W was sworn in and he doesn't thank you and move on? has this thread moved into the Twilight Zone? Pinqy is defending a position that doesn't pass the smell test but at least has data backing it up and he isn't being pigheaded about it, he more or less admits that it doesn't pass the smell test but just the BLS definition test. WTF?
If he would bother to read "The Economist" he would read articles explaining the many different ways GDP can be computed. The problem in the US is that the automation needed to replace workers in the Far East and EU being lost to crappy demographics also replaces American workers. The capital equipment that substitutes for a worker making 50-75% of what an American worker makes also works in American factories. It also works in American fastfoods, retail, telemarketing and other services. But as to productivity a lot of German engineering, Swedish design and Japanese software is done in the US. With this kind of churn in the job market the only strategy that can work is wait until the Far East and EU reach the limits of automation state of the art and then beat them to death with higher productivity but that is about a decade into the future.holy crap! you give kissmy a goldbug chart that certainly looked like the economy peaked before W was sworn in and he doesn't thank you and move on? has this thread moved into the Twilight Zone? Pinqy is defending a position that doesn't pass the smell test but at least has data backing it up and he isn't being pigheaded about it, he more or less admits that it doesn't pass the smell test but just the BLS definition test. WTF?
Kissmy wants to prove that the recession began in 1999, and he can't come close. Pity the fool!
Dotcom bomb did hit 4thQ2000/1stQ2001 but the roots of that bubble go back to the 60s and 70s with the push for DARPAnet. If kissmy wants to blame a Dem Carter and LBJ are available but LBJ is dead and Carter is in poor health. I would blame the demography but that is just the way I roll.he still failed miserably to prove that the Bush recession began in 99!
Extremely valid point.The Dot Com Bubble was accompanied by leveraged computer hardware & software sales. There was a huge rush to upgrade all computer systems ahead of Y2K. All Wall street stocks were leveraged based on at least 15 years EPS projections. These EPS projections were based on those pre Y2K false rising hardware & software sales assumptions. Then came January Y2K & nearly all hardware & software sales ground to a halt. By the end of the first month & first quarter of Y2K when these sales & earnings numbers were published, it was over for the high tech stocks that powered the economy leading up to Y2K. The recession came on strong at that point. There was no time to counter it pre 9/11.
