Jack Welch: Economy is not growing at breakneck speed contrary to Obama's BLS claims


Jack Welch stated that the economy would have to be growing at a breakneck speed for unemployment to drop a half percent in two months. I absolutely agree!

By the way, if you bothered to read the article; you'd know that he reasoned that other economic factors such as great quarterly growth would be accompanying such a drastic downturn.

So he's not a liar; you're just a hack! :lmao:
 

Jack Welch stated that the economy would have to be growing at a breakneck speed for unemployment to drop a half percent in two months. I absolutely agree!

By the way, if you bothered to read the article; you'd know that he reasoned that other economic factors such as great quarterly growth would be accompanying such a drastic downturn.

So he's not a liar; you're just a hack! :lmao:
The facts have made a fool of Jackass Welch and any moron who absolutely agrees with him.
 
Growth is expansion of GDP. What do you think it is?

I'm no economist; or an amateur economist at best. But I know that GDP is only one measure of an economy. And speaking of GDP; it is usually going up (as money is usually being inflated). Therefore, it is the rate of GDP that counts. And GDP growth is sub par and has been. Therefore (when I consider the anemic rate of growth), I disagree with your assessment that "the economy is slowly growing."

Subpar economic growth means the economy is growing slowly.
 
Growth is expansion of GDP. What do you think it is?

I'm no economist; or an amateur economist at best. But I know that GDP is only one measure of an economy. And speaking of GDP; it is usually going up (as money is usually being inflated). Therefore, it is the rate of GDP that counts. And GDP growth is sub par and has been. Therefore (when I consider the anemic rate of growth), I disagree with your assessment that "the economy is slowly growing."

Subpar economic growth means the economy is growing slowly.

Not at all. Families have used 40 percent of their savings. House prices are way down. Inflation is way up. The debt is way up. Jobs are down. Welfare is up. The economy is not growing. The economy is waffling at best.

I myself, thought I'd be in a much better position today from five years ago. And I doubt that I'm in the minority.
 
http://www.usmessageboard.com/econo...ontrary-to-obamas-bls-claims.html#post6136759

The BLS did not saay that the economy was growing at a breakneck speed.

Either Jack Welch is a liar, or the author of this thread is trying to make him one.

Jack Welch stated that the economy would have to be growing at a breakneck speed for unemployment to drop a half percent in two months. I absolutely agree!

By the way, if you bothered to read the article; you'd know that he reasoned that other economic factors such as great quarterly growth would be accompanying such a drastic downturn.

So he's not a liar; you're just a hack! :lmao:
The facts have made a fool of Jackass Welch and any moron who absolutely agrees with him.

there are three facts:

1) discouraged workers stopped looking so unemployment went down

2) other discouraged workers (2/3 of 900,000 new jobs) gave up and settled for part time work at Mickey D and 7-11.

3) 300,000 baby boomers retire each month

Now you have the facts too, liberal!!
 
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[And contrary to your bullshit about part timers being worse off because they do not collect UE insurance benefits, assuming they are eligible for UI then PT work extends the time they can collect and increases their take home benefits by 20%.
Try again.
Embarrassingly, I did not know that. Is that true in all states? And thanks for actually posting a fact on a thread in dire need of a few.
 
The economy is not growing at breakneck speed. It's growing at a slow to moderate pace.

Define growth. You could have a technical case. But I wouldn't be quick to agree with that at all.

Usually "growth" refers to annual rate increase in real Gross Domestic Product. It takes a growth of about 1.2% to keep up with population growth (keep per capita GDP the same). Given current excess capacity, a growth rate of 3--4% would need to be sustained for two years or so to get unemployment in an acceptable range.

CBO Forecast Update Aug 22 said:
CBO expects the economic recovery to continue at a modest pace for the remainder of calendar year 2012, with real (inflation-adjusted) GDP growing at an annual rate of about 2¼ percent in the second half of the year, compared with a rate of about 1¾ percent in the first half. The unemployment rate will stay above 8 percent for the rest of the year, CBO estimates, and the rate of inflation in consumer prices will remain low.
 
Well, look at that. Progress is being made! Last week Mr. Welch used a meaningless premise that a couple of campaign contributions by a couple of BLS employees (something that any one of them can do and some have, to Republican campaigns as well, by the way) constituted a fix in the numbers. This week he is pointing out statistical weaknesses in the BLS that, if true, are weaknesses that didn't suddenly show up last week, they've been there all along.

My question would remain: why is the unemployment report released recently any more or less relevant than any posted before? The answer is, it isn't.

I give Mr. Welch full credit for his record as a business leader, but that doesn't make him an economist. I also have to question his motives. He says in the article that he is not campaigning for Romney, yet he went on the record back in January in his endorsement of him. He has an agenda, it is pretty obvious, and quite frankly it is embarrassing. The Romney campaign was wise in trying to distance themselves from the accusation when it first broke, and hope they continue to do so.
 
I'm no economist; or an amateur economist at best. But I know that GDP is only one measure of an economy. And speaking of GDP; it is usually going up (as money is usually being inflated). Therefore, it is the rate of GDP that counts. And GDP growth is sub par and has been. Therefore (when I consider the anemic rate of growth), I disagree with your assessment that "the economy is slowly growing."

"Real GDP" is adjusted for inflation. As I noted, for sbstantial impact on the unemployment rate, we would have to double the CBO projection of estimated growth. I would agree with your characterization of GDP real GDP growth as "anemic".
 
I'm no economist; or an amateur economist at best. But I know that GDP is only one measure of an economy. And speaking of GDP; it is usually going up (as money is usually being inflated). Therefore, it is the rate of GDP that counts. And GDP growth is sub par and has been. Therefore (when I consider the anemic rate of growth), I disagree with your assessment that "the economy is slowly growing."

Subpar economic growth means the economy is growing slowly.

Not at all. Families have used 40 percent of their savings. House prices are way down. Inflation is way up. The debt is way up. Jobs are down. Welfare is up. The economy is not growing. The economy is waffling at best.

I myself, thought I'd be in a much better position today from five years ago. And I doubt that I'm in the minority.

The only correct part of this dialogue is when you said "I'm no economist."
 
Jack Welch stated that the economy would have to be growing at a breakneck speed for unemployment to drop a half percent in two months. I absolutely agree!

By the way, if you bothered to read the article; you'd know that he reasoned that other economic factors such as great quarterly growth would be accompanying such a drastic downturn.

So he's not a liar; you're just a hack! :lmao:
The facts have made a fool of Jackass Welch and any moron who absolutely agrees with him.

there are three facts:

1) discouraged workers stopped looking so unemployment went down

2) other discouraged workers (2/3 of 900,000 new jobs) gave up and settled for part time work at Mickey D and 7-11.

3) 300,000 baby boomers retire each month

Now you have the facts too, liberal!!
Discouraged workers DECLINED from 844,000 to 802,000.

Part time jobs can lead to full time jobs, getting a foot in the door is hardly discouraging.

300,000 Boomers reach retirement age each month. They all might not retire, though more than half do.

Now you have the actual facts CON$ervoFascist.
 
Subpar economic growth means the economy is growing slowly.

Not at all. Families have used 40 percent of their savings. House prices are way down. Inflation is way up. The debt is way up. Jobs are down. Welfare is up. The economy is not growing. The economy is waffling at best.

I myself, thought I'd be in a much better position today from five years ago. And I doubt that I'm in the minority.

The only correct part of this dialogue is when you said "I'm no economist."

Compared to you I'm fucking Friedrich August Hayek BITCH

You're a pathetic piece of trash btw. I give you points and so you can only go back a couple posts to look for a childish insult. I'll just take that as your admission that you just got your ass handed to you and you have no response.
 
The facts have made a fool of Jackass Welch and any moron who absolutely agrees with him.

there are three facts:

1) discouraged workers stopped looking so unemployment went down

2) other discouraged workers (2/3 of 900,000 new jobs) gave up and settled for part time work at Mickey D and 7-11.

3) 300,000 baby boomers retire each month

Now you have the facts too, liberal!!
Discouraged workers DECLINED from 844,000 to 802,000.

Part time jobs can lead to full time jobs, getting a foot in the door is hardly discouraging.

300,000 Boomers reach retirement age each month. They all might not retire, though more than half do.

Now you have the actual facts CON$ervoFascist.

Its simple, from 2007 to today there are 3.5 million fewer jobs thanks to Barry's liberal idiocy

and, 2/3 of the new jobs in the last report are part time jobs at Mickey Ds and 7-11. Barry has buried the middle class. Plus, Krugman has a book out called "End This Depression Now."
 
Not at all. Families have used 40 percent of their savings. House prices are way down. Inflation is way up. The debt is way up. Jobs are down. Welfare is up. The economy is not growing. The economy is waffling at best.

I myself, thought I'd be in a much better position today from five years ago. And I doubt that I'm in the minority.

The only correct part of this dialogue is when you said "I'm no economist."

Compared to you I'm fucking Friedrich August Hayek BITCH

You're a pathetic piece of trash btw. I give you points and so you can only go back a couple posts to look for a childish insult. I'll just take that as your admission that you just got your ass handed to you and you have no response.

You don't even understand the most basic concepts in the English language, let alone economics. In your own post, you yourself said we had anemic growth. That means growing slowly. I agreed. But for some reason, you decided to display your rank ignorance and contradict your own post. Now you've decided to meltdown. If you understood even the most basic concepts, you wouldn't embarrass yourself.
 
The only correct part of this dialogue is when you said "I'm no economist."

Compared to you I'm fucking Friedrich August Hayek BITCH

You're a pathetic piece of trash btw. I give you points and so you can only go back a couple posts to look for a childish insult. I'll just take that as your admission that you just got your ass handed to you and you have no response.

You don't even understand the most basic concepts in the English language, let alone economics. In your own post, you yourself said we had anemic growth. That means growing slowly. I agreed. But for some reason, you decided to display your rank ignorance and contradict your own post. Now you've decided to meltdown. If you understood even the most basic concepts, you wouldn't embarrass yourself.

You're embarrassing yourself. You didn't agree with me (not that that's the crux of the matter) and you came back at me with a simple minded insults. So take your medicine BITCH.
 

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