Summer of Recovery huh? Economy Caught in Depression, Not Recession

[teapartysamurai]

Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.

But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg.

Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response."

News Headlines

It's all BUUUUUUUUUUUUUUUSH's fault!

Yeah right! Democrats have been in control since 2007, but they are just innocent of all the economic damage their policies have caused.

November is coming liberals!

Then what should the administration be doing that they are not doing, or have not done?

Specifically.

Oh gee, how about another stimulus or MORE GOVERNMENT SPENDING???????

That liberals would not know what Obama should do.

I mean what hasn't he done? Everything he has done has made the problem worse!

 

[teapartysamurai]

I can't name 1 who's making less. People are still getting raises, maybe lower raises but the 90% of us working are still paying our mortgages and still getting raises.

You have changed your stat three times now since I started challenging you. That shows dishonesty and weakness on your part. Now 90% of people are paying their mortgages and getting raises? (those working)

If that were true, why the recent increase in foreclosures? Most people I know took jobs that paid less than their old job. If they got a raise, it still is well below their old job's rate. Your wrong and spewing nothing but messiah 0bama scripture.

toppy was one of those I was speaking of who said the economy would rebound in 3rd quarted 2008 or 1st quarter 2009. He Kept talking about how could things be bad the mall parking lots were full.

He has been wrong all along on the economy.

And he still is.

I have been suspecting for a while we were really in a depression, NOT a recession.

This is the first egg head economist that has finally caught up to reality.

I frankly don't hold much with "economists" because most of the time they are dead wrong.

 

[teapartysamurai]

you are an uneducated moron. And I'll gladly place my investment portfolio and education vs yours. Oh wait, you thought high school was enough. LOFL

Yeah you are sooooooooooooo educated, you give us numbers and can't even see they don't support your position.

 

[8537]

DID IT EVER OCCUR TO YOU, that prices may be coming down, because stores know that people can't afford to buy them at higher prices, and they are desperate to get them in the stores?

How is that an example of a better economy with the tanking of incomes WHICH IS OUTLINED IN YOUR OWN REPORT, GENIUS????

My report? I didn't post any report ma'am. I'm just wondering how you get any information about incomes out of PCE data.

 

[Gadawg73]

Some depression.
Long Horn and Olive Garden are a 45 minute wait every Friday and Saturday night here. My son comes home from college and makes a grand a week waiting tables.
You people do not have a damn clue what a depression is.

 

[teapartysamurai]

income up ditz

s/he is interpreting PCE as income. With that in mind, do you really expect him/her to understand the rest of the report?

She is a unemployed high school dropout who's only purpose in life it seems is to start threads on this site about the demise of our country. She doesn't know what she is saying 99.9% of the time and when she "read" that article posted, she just looked for the word 'decrease' and assumed it was showing Obama in a bad light and thus somehow validating her POV.

There is no use trying to have an intelligent discussion with someone who is unfortunately just not intelligent.

Apparently, an "intelligent discussion" with a liberal is, when you challenge their lies, they go into a vitriolic rant attacking you personally.

Yes, sooooooooooo intelligent liberals.

No wonder you can't discuss the actual economy.

 

[teapartysamurai]

Since your incapable of interpreting the data. What we have here is a double dip recession that will be a depression if we try the smae solution again. It is happening because the stimulus could not, BY DESIGN, reverse the problem. It was nothing but a delay in the cycle. The causes may have been from the prior decade, but the solution is what will make this longer and deeper. 0bama owns ALL of that.

It's pretty pathetic when he gives us the data and it confirms the fact that we are heading DOWN not up in incomes.

What a maroon!

 

[Gadawg73]

s/he is interpreting PCE as income. With that in mind, do you really expect him/her to understand the rest of the report?

She is a unemployed high school dropout who's only purpose in life it seems is to start threads on this site about the demise of our country. She doesn't know what she is saying 99.9% of the time and when she "read" that article posted, she just looked for the word 'decrease' and assumed it was showing Obama in a bad light and thus somehow validating her POV.

There is no use trying to have an intelligent discussion with someone who is unfortunately just not intelligent.

Apparently, an "intelligent discussion" with a liberal is, when you challenge their lies, they go into a vitriolic rant attacking you personally.

Yes, sooooooooooo intelligent liberals.

No wonder you can't discuss the actual economy.

And anyone that disagrees with you is labeled a liberal.
I was voting Republican before you were born.

 

[teapartysamurai]

incomes are and have been rising
Prices on Houses are way down, cars and most big ticket items have to be discounted to be sold.

The economy is not even strong, but it's growing and those with the rising incomes are seeing thier purchasing power rise.

Factually wrong.

Personal Income Falls In Most Cities–Except Washington DC - 24/7 Wall St.

Personal Income Falls In Most Cities–Except Washington DC
Posted: August 10, 2010 at 5:08 am


Washington DC is a good place to work during a recession. Information from the Commerce Department shows personal incomes declined in 233 cities and rose in 134 in 2009. In nine cities, the figure was unchanged from 2008. Total personal income across the cities fell an average of 1.8% last year compared to a gain of 2.7% in 2008.

The most interesting number in the report may be that among the cities with populations of more than one million people only Washington DC had an improvement in personal income. Federal government employment accounted for much of the increase.

Other large cities suffered horribly. Personal income in Naples, Florida fell 7.1%.

...

Of course they are falling EXCEPT IN WASHINGTON DC, which is probably what topspin is talking about when he says incomes are on the rise.

HE'S PROBABLY TALKING ABOUT HIS OWN INCOME NOT OURS!!!!!!!

It's indicative of how out of touch liberals are with the actual economy in which most of us have to live. They are too busy raking it in with think tanks, government jobs, and union slush funds.

 

[topspin]

I am out of touch with you poor people, teapartyged is talking about a depression. I see GDP (the overall barometer of the economy) growing. But hey, I'm investor class. 9 out of 10 people I work with a millionaires with more than I have. I know one guy from the tennis club that sold 1 of 2 businesses and the other went under. Louisiana's economy has faired better as has Texas's in the recession because our housing never got crazy.

 

[teapartysamurai]

incomes are and have been rising
Prices on Houses are way down, cars and most big ticket items have to be discounted to be sold.

The economy is not even strong, but it's growing and those with the rising incomes are seeing thier purchasing power rise.

Factually wrong.

Personal Income Falls In Most Cities–Except Washington DC - 24/7 Wall St.

Personal Income Falls In Most Cities–Except Washington DC
Posted: August 10, 2010 at 5:08 am


Washington DC is a good place to work during a recession. Information from the Commerce Department shows personal incomes declined in 233 cities and rose in 134 in 2009. In nine cities, the figure was unchanged from 2008. Total personal income across the cities fell an average of 1.8% last year compared to a gain of 2.7% in 2008.

The most interesting number in the report may be that among the cities with populations of more than one million people only Washington DC had an improvement in personal income. Federal government employment accounted for much of the increase.

Other large cities suffered horribly. Personal income in Naples, Florida fell 7.1%.

...

cities are where the poor live, and you don't know much about finance. Total income is up.

Total income is up???????

Although personal income grew in 134 MSAs, in most cases this growth represented an
increase in transfer receipts (unemployment insurance benefits, for example). Only in 57 MSAs
did the net earnings of workers increase in 2009.
In most of the 57 MSAs where net earnings increased, the gains were concentrated in the​

government sector.

http://www.bea.gov/newsreleases/regional/mpi/2010/pdf/mpi0810.pdf


You're so full of it, it's not funny. Total income is up? ONLY IF YOU WORK FOR THE GOVERNMENT!!!!!

Otherwise you are S*it out of luck!

Liberals and how they lie and spin.

From your own NUMBERS that you think are so important!

 

[teapartysamurai]

Then what should the administration be doing that they are not doing, or have not done?

Specifically.

You have been told at least twice in the last month. You don't like the answer, because it means less control by government. Your scared of being responsible and hard work.

I'll repeat the question:

what should the administration be doing that they are not doing, or have not done?

That he has no idea, says way more about him.

 

[teapartysamurai]

Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.

But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg.

Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response."

News Headlines

It's all BUUUUUUUUUUUUUUUSH's fault!

Yeah right! Democrats have been in control since 2007, but they are just innocent of all the economic damage their policies have caused.

November is coming liberals!

...

Yeah, just ignore the USS Cole, the embassy bombings in Kenya, the 1993 World Trade Center bombing, the walls put between intelligence agencies that even the 9/11 Commission said lead to 9/11.

Yeah peace and prosperity! Liberals are so full of it!

You notice Bush didn't sit around for YEARS after 9/11 and say it was all Clinton's fault. HE DID SOMETHING ABOUT IT!!!!!!!!!

All Obama has done for MONTHS is let things get worse and say "it's Bush's fault!!!!!!" Give me a break!

 

[teapartysamurai]

DID IT EVER OCCUR TO YOU, that prices may be coming down, because stores know that people can't afford to buy them at higher prices, and they are desperate to get them in the stores?

How is that an example of a better economy with the tanking of incomes WHICH IS OUTLINED IN YOUR OWN REPORT, GENIUS????

My report? I didn't post any report ma'am. I'm just wondering how you get any information about incomes out of PCE data.

Sorry, thought I was replying to topspin.

However, the answer is the same.

 

[johnrocks]

Louisiana's economy has faired better as has Texas's in the recession because our housing never got crazy.

That is so true, we never had a bubble to pop in the first place.

 

[teapartysamurai]

Some depression.
Long Horn and Olive Garden are a 45 minute wait every Friday and Saturday night here. My son comes home from college and makes a grand a week waiting tables.
You people do not have a damn clue what a depression is.

Get this!

Some elite is doing fine!

Can't be a depression. I'm sure the rich said the same in the 30s..

Say you're not rich? Guess again!!!! Obama says you're rich if you make 250K and in some speeches it was 100K.

He'll get down to your income as the economy goes further and further South.

 

[8537]

DID IT EVER OCCUR TO YOU, that prices may be coming down, because stores know that people can't afford to buy them at higher prices, and they are desperate to get them in the stores?

How is that an example of a better economy with the tanking of incomes WHICH IS OUTLINED IN YOUR OWN REPORT, GENIUS????

My report? I didn't post any report ma'am. I'm just wondering how you get any information about incomes out of PCE data.

Sorry, thought I was replying to topspin.

However, the answer is the same.

But you haven't answered the question: How do you get income information out of PCE data?

And FWIW, national income is up about 9% in the past 3 quarters.

 

[teapartysamurai]

She is a unemployed high school dropout who's only purpose in life it seems is to start threads on this site about the demise of our country. She doesn't know what she is saying 99.9% of the time and when she "read" that article posted, she just looked for the word 'decrease' and assumed it was showing Obama in a bad light and thus somehow validating her POV.

There is no use trying to have an intelligent discussion with someone who is unfortunately just not intelligent.

Apparently, an "intelligent discussion" with a liberal is, when you challenge their lies, they go into a vitriolic rant attacking you personally.

Yes, sooooooooooo intelligent liberals.

No wonder you can't discuss the actual economy.

And anyone that disagrees with you is labeled a liberal.
I was voting Republican before you were born.

So were the voters for Olympia Snowe, but they are still liberals.

Notice I said LIBERAL, not Democrat or Republican.

mindless!

 

[teapartysamurai]

I am out of touch with you poor people, teapartyged is talking about a depression. I see GDP (the overall barometer of the economy) growing. But hey, I'm investor class. 9 out of 10 people I work with a millionaires with more than I have. I know one guy from the tennis club that sold 1 of 2 businesses and the other went under. Louisiana's economy has faired better as has Texas's in the recession because our housing never got crazy.

And I showed you where the money is going up FROM YOUR OWN NUMBERS!

Although personal income grew in 134 MSAs, in most cases this growth represented an
increase in transfer receipts (unemployment insurance benefits, for example). Only in 57 MSAs
did the net earnings of workers increase in 2009.
In most of the 57 MSAs where net earnings increased, the gains were concentrated in the​

government sector.

http://www.bea.gov/newsreleases/regional/mpi/2010/pdf/mpi0810.pdf

Nothing like being totally out of touch with reality to think the numbers you posted prove incomes are up!

 

[johnrocks]

She is a unemployed high school dropout who's only purpose in life it seems is to start threads on this site about the demise of our country. She doesn't know what she is saying 99.9% of the time and when she "read" that article posted, she just looked for the word 'decrease' and assumed it was showing Obama in a bad light and thus somehow validating her POV.

There is no use trying to have an intelligent discussion with someone who is unfortunately just not intelligent.

Apparently, an "intelligent discussion" with a liberal is, when you challenge their lies, they go into a vitriolic rant attacking you personally.

Yes, sooooooooooo intelligent liberals.

No wonder you can't discuss the actual economy.

And anyone that disagrees with you is labeled a liberal.
I was voting Republican before you were born.

I've noticed over the years that some who call others liberal voted Democrat at one time and wouldn't know what "conservative" was if it bit them square in the ass.