U.S. Economy Unexpectedly Contracts in Fourth Quarter

Quote from jonsmith74 : Oh, please. Obama was not elected in the midst of an economic collapse. Bush and Congress was already enacting measures that Obama was proposing and would ultimately expand. Recovery and job growth? Lol. I can't reason out of you that which was not reasoned in the first place. If you think there's a recovery then why economic contraction? Why continued new jobless claims like today's announcement? Why a record low labor participation rate? Why persistent near 8pct unemployment? Why are we borrowing $0.46 of every dollar spent? Lmao...

The only things the GW Bush did to twart economic collapse were implement TARP, convince Bernanke to open the monetary spigot wide open, and continue to run deficits caused by tax cut fanaticism, the latter two also being causes of the Great Recession. I don't know what a President McCain would have done, but Obama's $750B stimulus plan was necessary and actually should have been roughly twice as big and more focused on the bottom 50%, but the politicians more in agreement with your economic philosophy (in practice, not just theory) prevented that.

Quote from larrymoencurly : The only things the GW Bush did to twart economic collapse were implement TARP, convince Bernanke to open the monetary spigot wide open, and continue to run deficits caused by tax cut fanaticism, the latter two also being causes of the Great Recession. I don't know what a President McCain would have done, but Obama's $750B stimulus plan was necessary and actually should have been roughly twice as big and more focused on the bottom 50%, but the politicians more in agreement with your economic philosophy (in practice, not just theory) prevented that.

You have no idea what my economic theory is. I was merely pointing out that the poster I was responding to was wrong in characterizing the state of the economy as one in collapse. And I was right to as we saw that poster move the goalposts to restate his characterization.

Now whether what was needed was something bigger...maybe.

Quote from 124nic8 : You mean TARP? Why TARP if there was no emergency risk of catastrophic collapse? Whether you recognize it or not.... You mean last quarter? It was due to defense spending cutbacks and Sandy. Recovery is not and never has been instantaneous. Esp not from a financial crisis. The world is in similar if not more dire straits. We are doing much better than most.

Best thing about Sandy? Liberals are finally admitting that a shitload of broken windows doesn't help the economy.

Quote from Xygonn : Best thing about Sandy? Liberals are finally admitting that a shitload of broken windows doesn't help the economy.

We should all hope and pray for a Sandy to happen every day. Think how great the economy would be. I bet Paul Krugman has already written a column stating the same!

Quote from Deusxmachina : Everyone remember this sentence. You'll be hearing it for the next four years. 12 years if Hillary gets elected.

It'll be Reagan's fault when Hillary in 2020 is paying for Obama's $8 trillion borrowing.

Doh.

Quote from larrymoencurly : The only things the GW Bush did to twart economic collapse were implement TARP, convince Bernanke to open the monetary spigot wide open, and continue to run deficits caused by tax cut fanaticism, the latter two also being causes of the Great Recession. I don't know what a President McCain would have done, but Obama's $750B stimulus plan was necessary and actually should have been roughly twice as big and more focused on the bottom 50%, but the politicians more in agreement with your economic philosophy (in practice, not just theory) prevented that.

Quote from jonsmith74 : You have no idea what my economic theory is. I was merely pointing out that the poster I was responding to was wrong in characterizing the state of the economy as one in collapse. And I was right to as we saw that poster move the goalposts to restate his characterization. Now whether what was needed was something bigger...maybe.

Don't make broad accusations without providing any details. Show me where I was wrong here.

Quote from Xygonn : Best thing about Sandy? Liberals are finally admitting that a shitload of broken windows doesn't help the economy.

No one ever said it helps immediately when infrastucture is shut down.

But it def increases economic activity in short to medium term as people fix the damage.

Quote from 124nic8 : No one ever said it helps immediately when infrastucture is shut down. But it def increases economic activity in short to medium term as people fix the damage.

When can we expect the Superstorm Sandy bump?

Time to start hiring saboteurs to blow up some minor infrastructure projects. In the short term it will cause harm but in the long term we will have to hire more infrastructure builders! The ultimate utopia of 100% employment.

60% private production 30% useful government 5% digging ditches 5% filling the ditches with dirt.

Quote from Xygonn : When can we expect the Superstorm Sandy bump? Time to start hiring saboteurs to blow up some minor infrastructure projects. In the short term it will cause harm but in the long term we will have to hire more infrastructure builders! The ultimate utopia of 100% employment.

Keynesians 9/11.

Quote from larrymoencurly : Don't make broad accusations without providing any details. Show me where I was wrong here.

Wow... Read my posts again. I did not make any accusations of you. I told you I was resoonding to a poster (124nic8). I also noted that you had no idea what economic theory I subscribed to because, of course, I have not provide such. I said that because to suggested that I subscribed to a theory you disagreed with... You couldn't possibly know what I believed because I hadn't said anything about it.

I have no burden of proving anything you said in that post. Principally because it was all speculation, conjecture. You were speculating that something else was needed. How can I prove that your opinion is wrong in that regard.

Next time, slow down, take a breath, and try to understand what you've read before screaming that someone accused you of something... Sheesh.

Quote from Xygonn : When can we expect the Superstorm Sandy bump?

Soon. The $60B was just approved. But it will probably be mostly isolated to the NE, so you won't see much impact in WA.

Quote from jonsmith74 : Wow... Read my posts again. I did not make any accusations of you. I told you I was resoonding to a poster (124nic8). I also noted that you had no idea what economic theory I subscribed to because, of course, I have not provide such. I said that because to suggested that I subscribed to a theory you disagreed with... You couldn't possibly know what I believed because I hadn't said anything about it. I have no burden of proving anything you said in that post. Principally because it was all speculation, conjecture. You were speculating that something else was needed. How can I prove that your opinion is wrong in that regard. Next time, slow down, take a breath, and try to understand what you've read before screaming that someone accused you of something... Sheesh.

That's a silly respoonse from you.