U.S. in recession since December of 07

[Chris]

Remember when Paperboy and all those rightees were saying we weren't in a recession last summer?

It's official: U.S. in a recession since December 2007 - Dec. 1, 2008

 

[sealybobo]

Remember all the Republicans arguing with us for months/years that we were not in a recession?

This is why I hate Republicans.

Rather than admit we have a problem and work on fixing it, we wasted 8 fucking years arguing with liars.

And we are still arguing with these liars over global warming and the war in Iraq.

Hell, they actually still think they have something to contribute as far as the economy goes. I can't wait until Jan 20th when the GOP no longer have a voice in Government. Other than Gates that is.

 

[Chris]

Remember all the Republicans arguing with us for months/years that we were not in a recession?

This is why I hate Republicans.

Rather than admit we have a problem and work on fixing it, we wasted 8 fucking years arguing with liars.

And we are still arguing with these liars over global warming and the war in Iraq.

Hell, they actually still think they have something to contribute as far as the economy goes. I can't wait until Jan 20th when the GOP no longer have a voice in Government. Other than Gates that is.

I remember when they used to think Bush was a good president. No one argues that anymore.

 

[jillian]

The (National Bureau of Economic Research) views the payroll employment measure, which is based on a large survey of employers, as the most reliable comprehensive estimate of employment," said the group's statement. "This series reached a peak in December 2007 and has declined every month since then."

Employers have trimmed payrolls by 1.2 million jobs in the first 10 months of this year. On Friday, economists are predicting the government will report a loss of another 325,000 jobs for November.

The NBER also looks at real personal income, industrial production as well as wholesale and retail sales. All those measures reached a peak between November 2007 and June 2008, the NBER said.

In addition, the NBER also considers the gross domestic product, which is the reading most typically associated with a recession in the general public.

Many people erroneously believe that a recession is defined by two consecutive quarters of economic activity declining. That has yet to take place during this recession.

This downturn longer than most
The current recession is one of the longest downturns since the Great Depression of the 1930's.

The last two recessions (1990-1991 and 2001) lasted eight months each, and only two of the 10 previous post-Depression downturns lasted as long as a full year, according to the NBER.

It's official: U.S. in a recession since December 2007 - Dec. 1, 2008

 

[busara]

i specifically remember allie saying there was 'absolutely no evidence of a recession.' she even made her own thread about it.

 

[rayboyusmc]

I think Allie meant "secession"

 

[sealybobo]

i specifically remember allie saying there was 'absolutely no evidence of a recession.' she even made her own thread about it.

First, they used "fuzzy math" in their numbers.

For example, they use Haloburton/Blackwater jobs in their data. So that might show jobs/corporate profits, but the flip side of that is that those are government welfare jobs and those jobs are bankrupting the treasury.

They also said wages were up. Sure, if you add in the fact that CEO's went from $1 million salary a year to $20 million.

Second, they pretend to not know that if it wern't for that last economic stimulous package, without a doubt we would be in a recession. Because consumer spending plays a big part in determining if we are or are not in a recession. And even with all that money, we only showed very modest progress in that quarter.

So if they were arguing technicalities with us, then next time they should let us know. The same way McCain should have let us know that he meant us American workers when he said the FUNDAMENTALS of our economy were strong. We all know he didn't mean that, just like Allie wasn't arguing technicalities.

I work with a girl who is just like Allie. I asked her recently if we were in a recession and she said yes. I was hoping she didn't get the memo that the gig is up.

 

[xsited1]

Remember when Paperboy and all those rightees were saying we weren't in a recession last summer?

It's official: U.S. in a recession since December 2007 - Dec. 1, 2008

I knew this was going to happen! When the Democrats took control of Congress in January of 2007, I said that the US was going to be in a recession in less than a year.

 

[Kevin_Kennedy]

Second, they pretend to not know that if it wern't for that last economic stimulous package, without a doubt we would be in a recession. Because consumer spending plays a big part in determining if we are or are not in a recession. And even with all that money, we only showed very modest progress in that quarter.

A stimulus package does not help. It requires the government to borrow or print the money needed for it, which only adds to the problem.

 

[sealybobo]

I knew this was going to happen! When the Democrats took control of Congress in January of 2007, I said that the US was going to be in a recession in less than a year.

Yea, you guys said that about Clinton too.

Well we can show you exactly what the GOP did for the past 8 years that led us to this recession and all you can do is say Clinton and Freddy/Fanny did it.

Now it was the Pelosi/Reed Congress? Tell us how they crashed the global market in less than 2 years. Provide links.

They had a one person majority. Anything that passed, which wasn't much, Bush veto'ed.

That's the benefit of having a second term President. He doesn't care if he looks like the bad guy.

Look up RECORD AMOUNT of VETO's from the GOP.

And remember, between 2000-2006, the GOP considered the Nuclear Option. Now that they are the minority, they have used the filabuster more than the Dems did in all 8 years.

Explaining anything to a moron like you is a waste of time.

 

[DavidS]

A stimulus package does not help. It requires the government to borrow or print the money needed for it, which only adds to the problem.

In February, Congress passed a $170 billion tax rebate meant to stimulate the economy. But that only boosted GDP during the second quarter.

hmmmm

 

[Kevin_Kennedy]

hmmmm

"Down the Rabbit Hole" by Peter Schiff, FSU Editorial 09/05/2008

hmmmm

 

[xsited1]

Yea, you guys said that about Clinton too.

And then Congress became Conservative in 1995. They control spending.

Well we can show you exactly what the GOP did for the past 8 years that led us to this recession and all you can do is say Clinton and Freddy/Fanny did it.

That was the fault of many people, including neoconservatives. Don't confuse neoconservatives with conservatives. Bush is a neoconservative. Think of Bush as LBJ who likes tax cuts. Same thing.

Now it was the Pelosi/Reed Congress? Tell us how they crashed the global market in less than 2 years. Provide links.

They had a one person majority. Anything that passed, which wasn't much, Bush veto'ed.

That's the benefit of having a second term President. He doesn't care if he looks like the bad guy.

Look up RECORD AMOUNT of VETO's from the GOP.

And remember, between 2000-2006, the GOP considered the Nuclear Option. Now that they are the minority, they have used the filabuster more than the Dems did in all 8 years.

Look at the market. It started going south when the Democrats took over in 2007. If government spending keeps increasing, the markets will suffer. Prior to that, the neoconservative Bush (remember, think LBJ) started a war in Iraq with the approval of Congress (including people like Hillary). It's amazing the economy has done as well as it has. Now Obama is going to make matters worse.

Explaining anything to a moron like you is a waste of time.

At one time, I actually rep'd you because I thought you were open-minded. (Of course, you've never rep'd me.) Now I know you're just a partisan hack. Live and learn.

 

[user_name_guest]

All you have to do is look at the definition of a recession. Two consecutive periods where economic activity drops. Periods = Quarters. Please inform us on the indicators of economic activity and show us that the National product has fallen or risen since December 2007. So two consecutive periods mean both periods actually had declining %'s.

 

[jillian]

All you have to do is look at the definition of a recession. Two consecutive periods where economic activity drops. Periods = Quarters. Please inform us on the indicators of economic activity and show us that the National product has fallen or risen since December 2007. So two consecutive periods mean both periods actually had declining %'s.

If you read it, the article addresses that issue.

It's official: U.S. in a recession since December 2007 - Dec. 1, 2008

 

[user_name_guest]

If you read it, the article addresses that issue.

It's official: U.S. in a recession since December 2007 - Dec. 1, 2008

Looking at the final revision of GDP growth numbers, they would have to revise Q1 and Q2 again. Both those periods in 2008 experienced relatively low number of growth: 0.9% and 1.9%. If Q1 and Q2 are positive %s, how is the recession been going since December 2007? Why December 2007? The date this recession started, in my opinion, is October 2008. 2008 Q4 and 2009 Q1 negative growth = Recession.

 

[sealybobo]

And then Congress became Conservative in 1995. They control spending.

That was the fault of many people, including neoconservatives. Don't confuse neoconservatives with conservatives. Bush is a neoconservative. Think of Bush as LBJ who likes tax cuts. Same thing.

Look at the market. It started going south when the Democrats took over in 2007. If government spending keeps increasing, the markets will suffer. Prior to that, the neoconservative Bush (remember, think LBJ) started a war in Iraq with the approval of Congress (including people like Hillary). It's amazing the economy has done as well as it has. Now Obama is going to make matters worse.

At one time, I actually rep'd you because I thought you were open-minded. (Of course, you've never rep'd me.) Now I know you're just a partisan hack. Live and learn.

I know that any talk of bi partisanship is a big waste of time. Obama/Pelosi/Reed might work with you guys but, when you had the power, you didn't work with us at all.

And since I know that's the way you guys operate, I have to treat you like the enemy. Because you treat us like the enemy.

And you are saying we are wrong, so I'm sorry, but that makes you dead wrong.

 

[xsited1]

I know that any talk of bi partisanship is a big waste of time. Obama/Pelosi/Reed might work with you guys but, when you had the power, you didn't work with us at all.

And since I know that's the way you guys operate, I have to treat you like the enemy. Because you treat us like the enemy.

And you are saying we are wrong, so I'm sorry, but that makes you dead wrong.

OMG, you're stuck on stupid.

Stop being a partisan hack!

 

[Chris]

OMG, you're stuck on stupid.

Stop being a partisan hack!

Stop using the phrase "partisan hack."

It sounds like a virus you get at a political meeting.

 

[sealybobo]

OMG, you're stuck on stupid.

Stop being a partisan hack!

SORRY, I didn't get to finish. My boss called me in her office for a quicky.

Let me finish.

What you are saying is dead wrong. Your political phylosophies have bankrupted the country.

And since you still to this day defend Bush/The GOP or even try to pretend there is a difference between NEO conservatives and Conservatives is laughable.

And I know there is a difference. I/WE were telling you for 8 years that Bush was no conservative, and you still defended him.

So a bit too late there sister. You can't distance yourself from Bush in January and expect in November that we'll be buying it. You expect/hope that we will forget what you all did the previous 7 years.

And to suggest that the Dems from Jan 20 2007 to Jan 20, 08 were at fault for this global economic wreck, is also laughable. I say January 08 because that's when the economy really started tanking.

And even then you guys were arguing. One of your "conservatives" said then that we were not in a recession, or it was all in our heads. Mitt Romney was one of those guys.

I'll even repeat your number one come back. "It's the Iraq war".

And I/We said, "even without the IRaq war, Bush is growing the government and spending out of control." But you didn't care. Now you want to say Bush was the exception? You must take us for morons.

So who are the fiscal conservatives in your party?