thus haircuts in 2006 would also have an equivalent effect on GDP..
And? We were in a bubble economy at that point. That is an apples to motorcylcles comparison. The economic conditions, factors, headwinds and tailwinds are dramatically different.
but keep in mind today's news: Jobless Claims in U.S. Rose 38,000 Last Week to 368,000
now an increase is typical after X-Mas.. but this is greater than average.
also GDP as being affected by decreased exports and sluggish company income (of course along with Government spending).
It isn't greater than average. It is 8k higher than the low end of the fluxuation over the last year (360-390)
And yes, there were other factors. But economists are consistantly stating that the gdp drop was mostly due to the one-time hits to gdp--which is encouraging news, especially when you look at the other positive statistics.
Look, things aren't rosy--but this drop isn't what you guys are trying to make of it. I remember when the right derided the left for pointing out the problems with the economy when we were heading into the end of GWB's term. And that was when there wasn't really any good news mixed in the mess. We were considered as "cheering for bad news". You guys are starting to look the same way by cherry-picking numbers to reinforce your negative views. Sure, we aren't growing like crazy, but that can't be expected when savings rates and deleveraging is up. Slow and steady is the way to go when climbing out of a debt-induced recession. We need to be careful. No more tax increases. Be careful with cuts. But focusing on all of the gloom and doom while discounting or ignoring the good signs makes you guys look more and more petty and unreasonable/irrational.
Never argue with idiots. First they bring you down to their level, then they beat you with experience.
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