Obama's Economy FAIL- 0.0% GDP Growth In The First Quarter

[Mac1958]

.

I do this stuff for a living, and I don't remember a stranger economic period. Every time I get my hopes up with this economic data, that economic data comes along and wrecks it. Every time the economic data looks scary, along comes some good news.

That does happen, but I don't remember it happening for this long - what, three, four years?

May not change for a while. The foundation for growth is definitely there, but so are some pretty significant dangers.

.

Danger is the name of the game. That's one of the real problems with our economy nowadays. Things have been pushed to the brink. The "key" to success nowadays is to bet the house every single day and be "good" enough that you get away with it. And if things go bust, pass the consequences down to the bottom rungs.

What really blows my mind is how we chose to allow Too Big To Fail to remain after the meltdown.

It's obviously about money & politics, but I underestimated how weak our "leaders" are.

And I already knew they were pretty weak.

.

They werent weak. The opposite. They wrote too big to fail into law, guaranteeing big banks etc limited competition from upstarts and guaranteeing them a decent living. In return the companies contributed to Congressional campaigns. Nothing weak about it.

I would classify bending over for bank political contributions at the cost of the financial stability of the country as "weak".

We have different definitions of the work, I reckon.

.

 

[Faun]

yes i'm out of your league; i'm a man and you're a loser lying to himself

Spits the rightard who said retired folks are not a factor in the labor force participation.

yawn

they arent the reason for the 40-year low in labor market participation

the numbers of yearly retirees has remained relatively constant for a decade

keep trying

When do you stop making shit up ...? In reality, the number retirees is up about 150% since 2007 after baby boomers first began hitting the retirement age of 62 in 2008. Here is the last decade, which you idiotically described as "relatively constant."

2005 462,381
2006 470,351
2007 512,458
2008 718,481
2009 1,248,266
2010 1,071,081
2011 996,804
2012 1,127,041
2013 1,189,658
2014 1,146,382

Social Security Beneficiary Statistics

 

[TooTall]

yes i'm out of your league; i'm a man and you're a loser lying to himself

Spits the rightard who said retired folks are not a factor in the labor force participation.

yawn

they arent the reason for the 40-year low in labor market participation

the numbers of yearly retirees has remained relatively constant for a decade

keep trying

When do you stop making shit up ...? In reality, the number retirees is up about 150% since 2007 after baby boomers first began hitting the retirement age of 62 in 2008. Here is the last decade, which you idiotically described as "relatively constant."

2005 462,381
2006 470,351
2007 512,458
2008 718,481
2009 1,248,266
2010 1,071,081
2011 996,804
2012 1,127,041
2013 1,189,658
2014 1,146,382

Social Security Beneficiary Statistics

Just asking a question. Are the 10's of thousands of younger people that got SSI included in those statistics or are they all, as you imply, 62 to 65 year old retirees?

 

[Faun]

yes i'm out of your league; i'm a man and you're a loser lying to himself

Spits the rightard who said retired folks are not a factor in the labor force participation.

yawn

they arent the reason for the 40-year low in labor market participation

the numbers of yearly retirees has remained relatively constant for a decade

keep trying

When do you stop making shit up ...? In reality, the number retirees is up about 150% since 2007 after baby boomers first began hitting the retirement age of 62 in 2008. Here is the last decade, which you idiotically described as "relatively constant."

2005 462,381
2006 470,351
2007 512,458
2008 718,481
2009 1,248,266
2010 1,071,081
2011 996,804
2012 1,127,041
2013 1,189,658
2014 1,146,382

Social Security Beneficiary Statistics

Just asking a question. Are the 10's of thousands of younger people that got SSI included in those statistics or are they all, as you imply, 62 to 65 year old retirees?

Fair question ... I checked it again and see it includes not only children of retirees receiving benefits but their spouses as well. I apologize and here are the numbers of just the retirees, which is still doubled from 2007 (which 2007 is almost doubled from just a few years earlier).

2005 502,217
2006 516,174
2007 553,626
2008 748,047
2009 1,239,768
2010 1,079,409
2011 1,006,724
2012 1,120,242
2013 1,171,737
2014 1,117,746

Social Security Beneficiary Statistics

 

[JakeStarkey]

Yup, getting the 8 million jobs back that the Bush Great Recession lost and adding an additional 4.5 million is a failure.

What a bunch of ******* fruit loops.

 

[healthmyths]

Yup, getting the 8 million jobs back that the Bush Great Recession lost and adding an additional 4.5 million is a failure.

What a bunch of ******* fruit loops.

So I guess these EVENTS NEVER happened in your never never land and all the deaths, the destruction never occurred?
1) Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Source: USATODAY.com - It s official 2001 recession only lasted eight months

A Major $5 trillion market loss
2) Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble How to lose 5 trillion Anderson Cooper 360 - CNN.com Blogs

The worst attacks on the USA in History.. 3,000 deaths!!!
3)Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: The Top 10 Financial Events of the Decade
Year 2001...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others. According to the FBI, the ensuing investigation became "one of the largest and most complex in the history of law enforcement".[1]

4) $1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters Weather Underground

THESE events OCCURRED!
YET in SPITE of
a) 400,000 jobs due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details Federal State Local for 2008 - Charts
TELL ME WHERE WERE YOU from 2000 to 2009???
NONE of this happened right and IF IT DID IT WAS ALL Bush's fault because he was either a moron, a dummy or the smartest conniving person ever! Even able to master the weather..i.e. as Obama said he could:
"This was the moment when the rise of the oceans began to slow and our planet began to heal."-- Barack Obama

 

[Mr.Right]

Yup, getting the 8 million jobs back that the Bush Great Recession lost and adding an additional 4.5 million is a failure.

What a bunch of ******* fruit loops.

If our economy is doing so well, why are so many people complaining about it?

 

[-S-]

If our economy is doing so well, why are so many people complaining about it?

Because nothing is ever good enough.

Believe it or not, people even complained when Lord Reagan was in power. There will always be complainers. You know that.

 

[Mr.Right]

If our economy is doing so well, why are so many people complaining about it?

Because nothing is ever good enough.

Believe it or not, people even complained when Lord Reagan was in power. There will always be complainers. You know that.

Wages are stagnant. There are a record number of people on food stamps. Yeah. You might be right. It's all in our heads.

 

[-S-]

Wages are stagnant. There are a record number of people on food stamps. Yeah. You might be right. It's all in our heads.

Oh no..
There's also more people on Earth today than there was 10 years ago. What's your point? "Record high" reports are misleading fear mongering. One must put it in perspective. If 3 out of 7 people are on food stamps 50 years ago, and today 13 out of 36 are today, that "record high" seems less impressive.

On that note, sorry, but no thanks. I'm not buying it.

 

[TooTall]

yes i'm out of your league; i'm a man and you're a loser lying to himself

Spits the rightard who said retired folks are not a factor in the labor force participation.

yawn

they arent the reason for the 40-year low in labor market participation

the numbers of yearly retirees has remained relatively constant for a decade

keep trying

When do you stop making shit up ...? In reality, the number retirees is up about 150% since 2007 after baby boomers first began hitting the retirement age of 62 in 2008. Here is the last decade, which you idiotically described as "relatively constant."

2005 462,381
2006 470,351
2007 512,458
2008 718,481
2009 1,248,266
2010 1,071,081
2011 996,804
2012 1,127,041
2013 1,189,658
2014 1,146,382

Social Security Beneficiary Statistics

Just asking a question. Are the 10's of thousands of younger people that got SSI included in those statistics or are they all, as you imply, 62 to 65 year old retirees?

Fair question ... I checked it again and see it includes not only children of retirees receiving benefits but their spouses as well. I apologize and here are the numbers of just the retirees, which is still doubled from 2007 (which 2007 is almost doubled from just a few years earlier).

2005 502,217
2006 516,174
2007 553,626
2008 748,047
2009 1,239,768
2010 1,079,409
2011 1,006,724
2012 1,120,242
2013 1,171,737
2014 1,117,746

Social Security Beneficiary Statistics

I used your chart and came up with these numbers.

Retired Workers only

2005 30,455,298
2014 39.000,771

An increase in 9 years of 8,454,473

Disabled workers only.

2005 6,524,587
2014 8,954,518

An increase of 2,429,931

 

[JakeStarkey]

Yup, getting the 8 million jobs back that the Bush Great Recession lost and adding an additional 4.5 million is a failure.

What a bunch of ******* fruit loops.

If our economy is doing so well, why are so many people complaining about it?

That is not what I said, those are your words.

And the other fruit loop started yammering about Clinton.

The GOP with compliant presidents from 1994 to 2006 set the stage for the Great Recession. That is what three of our voters believe; that won't change.

 

[healthmyths]

Yup, getting the 8 million jobs back that the Bush Great Recession lost and adding an additional 4.5 million is a failure.

What a bunch of ******* fruit loops.

If our economy is doing so well, why are so many people complaining about it?

That is not what I said, those are your words.

And the other fruit loop started yammering about Clinton.

The GOP with compliant presidents from 1994 to 2006 set the stage for the Great Recession. That is what three of our voters believe; that won't change.

I am challenging you and your fellow LIPs PROVE THESE EVENTS DIDN'T HAPPEN!

Bill Clinton, the country's most ardent booster of opening trade with China [thanks to Clinton's Chinese donations in exchange for missile information we have the FAMOUS Gorelick Memo that created the wall between FBI & CIA thus no knowledge of the 9/11 bombers shared with the FBI!!!], looks especially imprudent 10 years later. During a press conference on March 29, 2000, Clinton said that granting China permanent normal trade relations (PNTR), which allowed China to gain entry into the WTO, would be a great deal for America. "We do nothing," Clinton said. "They have to lower tariffs. They open up telecommunications for investment. They allow us to sell cars made in America in China at much lower tariffs. They allow us to put our own distributorships there. They allow us to put our own parts there. We don't have to transfer technology or do joint manufacturing in China any more. This a hundred-to-nothing deal for America when it comes to the economic consequences."
China s Entry Into The WTO 10 Years Later Is Not What President Clinton Promised

BUT under Bush, events that totally ignorant LIPs like you forget that NO other President in history had to face in their terms!
1) Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Source: USATODAY.com - It s official 2001 recession only lasted eight months

A Major $5 trillion market loss
2) Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble How to lose 5 trillion Anderson Cooper 360 - CNN.com Blogs

The worst attacks on the USA in History.. 3,000 deaths!!!
3)Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days! WALL STREET CLOSED!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: The Top 10 Financial Events of the Decade
Year 2001...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others. According to the FBI, the ensuing investigation became "one of the largest and most complex in the history of law enforcement".[1]

4) $1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters Weather Underground

YET in SPITE of :
a) 400,000 jobs due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details Federal State Local for 2008 - Charts

 

[Antares]

ODS is alive and well.

Obama has done nothing for the Economy, nothing.

There is no recovery everything you see is smoke and mirrors.

 

[Roadrunner]

Did you take a stupid pill before you logged on?

What was happening in the country the first quarter of this year. Particularly the first two months of the first quarter.
Do a Google if you can about what happens in that Jan, Feb time frame that might effect spending patterns of consumers and business's.

You smart enough to use Google or you want me to explain to you what was happening in Jan and Feb 2015.

Here is a hint; you try building a house when it is 5 degrees out with 20 inches of snow. Your supplies and building material can't get on site, the employees can'g get to work.. It's so cold nothing works right.

You really are stupid.

LMAO

So last year it was the 'weather' and now this year.....gasp.... the 'weather'

I raise the

-Geaux

Gee, the leading economists in the country don't realize it gets cold in the Winter?

 

[Roadrunner]

Jobs Report U.S. Adds 126 000 Jobs - WSJ

Jobs Report: U.S. Adds 126,000 Jobs; Unemployment Steady at 5.5%
Monthly gain is lowest since December 2013 as first quarter ends with a stumble

WASHINGTON—U.S. employers sharply slowed their hiring in March to the weakest pace in more than a year, the latest sign that the economy stumbled during a first quarter that was hampered in part by harsh winter weather.

Nonfarm payrolls rose by a seasonally adjusted 126,000 jobs in March, the Labor Department said Friday. That was the smallest gain since December 2013. The average monthly gain in the first quarter was 197,000, down from an average of 324,000 in the final three months of 2014.

And next month, we will get an adjustment down to 98,000.

 

[Roadrunner]

Yup, getting the 8 million jobs back that the Bush Great Recession lost and adding an additional 4.5 million is a failure.

What a bunch of ******* fruit loops.

You do mean the Pelosi/Reid/Dodd/Frank recession, but, of course you feel the need to suck up to Obamacraps.

 

[Geaux4it]

The housing market bust credit goes to Barney Fagnk

-Geuax

 

[JakeStarkey]

Yup, getting the 8 million jobs back that the Bush Great Recession lost and adding an additional 4.5 million is a failure.

What a bunch of ******* fruit loops.

You do mean the Pelosi/Reid/Dodd/Frank recession, but, of course you feel the need to suck up to Obamacraps.

The great majority of Americans do not agree with you fruit loops. You know it, I know it, and the GOP kingmakers know it. Ain't gonna be no Ted Cruz, no Mike Huckabee, or the other weirdies of the far right on our GOP ticket.

 

[JakeStarkey]

The housing market bust credit goes to Barney Fagnk-Geuax

Of course it doesn't. It goes to the GOP Congress from 1994 to 2006 with compliant presidents. The great majority of voters know that; why don't you?