2nd Quarter GDP Lowered to 1.1%

EconomyExpert wrote:

The Hussein Obama depression continues to worsen.

Agree

EconomyExpert wrote:

The Hussein Obama depression continues to worsen.

Wow. You have some serious issues with reality if you think things have gotten worse since Obama took office. Maybe you weren't an adult in 2007-2008?

I don't know what people expect, but I WISH the last 7+ years were horrible, because then I could be hoping for some unbelievable returns on my invested money. The fact of the matter is that we have been on an upward trend since March 2009 for stocks and October 2010 for jobs that we are likely closer to a downturn at this point than we are likely to continue upward.

Isn't a depression defined by reduction in the size of the economy over at least two consecutive quarters, but what you are reporting is an increase in the size of the economy?

Actually what you're trying to report is that GDP growth was 1.1% in the 2nd quarter.

Hint: economic GROWTH is a good thing.

Obama will be the first President ever to finish his terms in office without a single year of over 3% growth. I predicted that we could not have an economic boom under Obama/Democrat policies, and I was right. Where do I go to collect my Nobel Prize in Economics?

We had a VERY weak recovery, the weakest in history. A kind of zombie economy which is what happens to centrally controlled economies like Japan that don't go full banana-republic on the corruption scale. Unfortunately, we are headed straight at a banana republic economy with Hillary's epic pay-to-play scam. You've seen it before. The country suffers while their dear leaders become multi-billionaires. That's our gal Hillary. So it's bad, but it can get a lot worse.

Flagpole wrote:

Wow. You have some serious issues with reality if you think things have gotten worse since Obama took office. Maybe you weren't an adult in 2007-2008?

I don't know what people expect, but I WISH the last 7+ years were horrible, because then I could be hoping for some unbelievable returns on my invested money. The fact of the matter is that we have been on an upward trend since March 2009 for stocks and October 2010 for jobs that we are likely closer to a downturn at this point than we are likely to continue upward.

When the crash happens--and mark my words Douchepole, it's coming soon--you will very richly deserve the losses. I feel bad for most people, but you are so wilfully obtuse it will be a very satisfying sight of poetic justice when you realize you will never be able to retire.

It's amazing and quite hypocritical that you conservatards find fault with Obama for overseeing an economic recovery.

Get a grip wrote:

It's amazing and quite hypocritical that you conservatards find fault with Obama for overseeing an economic recovery.

Exactly, since they contributed to the worst financial crises in our generation and the tanking of the entire worlds economy by voting for W Bush. But we'll just forget about that little blip.

Get a grip wrote:

It's amazing and quite hypocritical that you conservatards find fault with Obama for overseeing an economic recovery.

Obama/Democrat policies suppressed the recovery, as they had to. Under Reagan the economy grew by a cumulative 31.0% compared to Obama's 13.8% over the same period in their terms. The last 7 years were a disaster.

If you think the last 7 years were a disaster, then you are an idiot if epic proportions. Look around the world and you'll see economies ranking left and right while the U.S. economy steadily grows.

DiscoGary wrote:

Get a grip wrote:

It's amazing and quite hypocritical that you conservatards find fault with Obama for overseeing an economic recovery.

Obama/Democrat policies suppressed the recovery, as they had to. Under Reagan the economy grew by a cumulative 31.0% compared to Obama's 13.8% over the same period in their terms. The last 7 years were a disaster.

Can you show the data on this?

The fact is that the Obama recovery is one of the longest sustained recoveries in modern times.

For the guy who characterized this as the Obama depression, I hope you're trolling, because if not, you are really stupid.

DiscoGary wrote:

Obama/Democrat policies suppressed the recovery, as they had to. Under Reagan the economy grew by a cumulative 31.0% compared to Obama's 13.8% over the same period in their terms. The last 7 years were a disaster.

...and Reagan was growing the federal government by leaps and bounds, investing trillions in defense, etc. Star Wars, the 600-ship Navy, ohh, all the spending...

Under Obama the government has shrunk, the Republican sequester has cut military spending, etc.

If Obama grew government the way Reagan did, we'd have 4% growth per year.

Anyone who thinks we've had a strong recovery the past 7 years doesn't know what a recovery is.

The financial catharsis that should have occurred in 07-08 (more bank failures, bankruptcy of one large auto, an accurate understanding by the public of the true causes of the crash) did not occur because of an administration that couldn't not do anything. We've been floating in neverland ever since because of unnatural, misguided federal reserve policies and rampant liberalism. This hasn't been a true recovery unless youre in the highest income & wealth brackets.

GDP is a measure of production and doesn't say much about the labor force or citizenry like it did in the past. To borrow from a fund manager from several years ago: you can't feed your family with GDP growth.

My "recovery" would involve a market forces-driven 10% increase in median wages (reduce hb1 visas and deport ~5 million illegals), a 10-20% housing correction (following draconian reductions in subsidized housing), a reduction in the number of food stamps recipients, a reduction in the average age of marriage back to the mid 20s, a fertility rate above replacement levels for people that can afford it (a decrease in the $1 million per child average price tag) and a job market where a motivated person can find a comparable-paid job without moving in less than a month.

observer of nutjobs wrote:

DiscoGary wrote:

Obama/Democrat policies suppressed the recovery, as they had to. Under Reagan the economy grew by a cumulative 31.0% compared to Obama's 13.8% over the same period in their terms. The last 7 years were a disaster.

Can you show the data on this?

The fact is that the Obama recovery is one of the longest sustained recoveries in modern times.

For the guy who characterized this as the Obama depression, I hope you're trolling, because if not, you are really stupid.

Run the numbers your self. I compound quarterly. Let us know what you get.

I never predicted we would have a depression. I predicted we would NOT have the kind of recovery that we saw under Reagan. I predicted growth would be suppressed by Democrat policies, and it was. I said it was a zombie economy, and it is.

Anyone who thinks Obama inherited a worse economy than Reagan has been horribly misinformed. Liberals, always blaming Republicans for their failures. Weak.

The results are in and your policies don't work. My view of the world is the correct one. There's nothing you can do to spin it.

Your biggest problem is that you can never give credit where credit is due.

Now, where DO I go to collect my Nobel Prize in economics? After all, I got it right where all the Harvard economists got it wrong. Their credentials are worthless.

DiscoGary wrote:

I predicted that we could not have an economic boom under Obama/Democrat policies, and I was right.

Are you sure you didn't predict a double-dip recession?

Maybe under a different name.

You're telling us that you predicted several years of low but steady growth after we bottomed out and started back up?

I hate the Reagan/Obama comparison.

Obama increased the national debt about 68% (from $11t at the beginning of 2009 to $18.5t at the end of 2016).

Reagan increased the national debt about 173% (from $950bn in 1981 to $2.6tn at the end of 1988).

So anyone who says Reagan was not a Keynesian is an idiot. His supply side economics policies ("trickle down theory") were a media lie because in reality he used the same Keynesian policies Obama is using.

The difference is Obama is cutting government spending. If you read the GDP report you'll see how much economic activity has been lost solely due to government spending cuts. Government spending is one of the largest contributors to economic growth in the U.S. You cut that and growth goes slow. You increase it, and growth looks fantastic but the long term consequences are numerous.

Flagpole wrote:

EconomyExpert wrote:

The Hussein Obama depression continues to worsen.

Wow. You have some serious issues with reality if you think things have gotten worse since Obama took office. Maybe you weren't an adult in 2007-2008?

I'm still not an adult, Flagtard.

sbeefyk1 wrote:

The difference is Obama is cutting government spending. If you read the GDP report you'll see how much economic activity has been lost solely due to government spending cuts. Government spending is one of the largest contributors to economic growth in the U.S. You cut that and growth goes slow. You increase it, and growth looks fantastic but the long term consequences are numerous.

Exactly. Republicans should be dancing in the street. Obama cut spending and still increased growth. It's a freaking miracle!

Instead they whine and complain and point to the past Republican "good ole days" who actually GREW the government, totally against what they supposedly stand for.

L L wrote:

DiscoGary wrote:

I predicted that we could not have an economic boom under Obama/Democrat policies, and I was right.

Are you sure you didn't predict a double-dip recession?

Maybe under a different name.

You're telling us that you predicted several years of low but steady growth after we bottomed out and started back up?

Grasping at straws.

I hit the target just at the edge of the bulls-eye, and no Democrat even came close to predicting what would happen. Credit must be given where credit is due, but Democrats know that would be political death, so they can NOT do it. Instead, they insult, they lie, they rewrite history all to avoid admitting the truth. That's their weakness. A weakness I got beyond decades ago.