Talks of another recession; Did the last one even end? (wholesale, interest)
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What we are looking at with the Infomerrical Graphix is . . . the "Stimulus" flow through (and out of) the US economy.
Since we STILL have the same leaky boat -- with the money being bled out of US to imported Oil, China and the Transnational Corporations, the money barely barely bounced off the table twice before it was vacuumed away.
(btw, the Stimulus itself was not a bad thing -- probably did save US from fully going under -- just we never fixed the leaks that help cause the mess).
Now we are still in the same leaky boat. Still sinking. And absolutely all attempts at stopping the leaks -- e.g. Tariffs, Taking US OFF Oil, and Taxes on the Upper End and Transnational Corporations -- will be fought until the boat is so low that the rats start jumping ship.
Claiming the economy is in trouble long term and claiming we are in a recession are two different things.
We are NOT in a recession. Period. An economic recession is not a subjective phenomenon.
You disagree with the definition of a recession? How do you define gravity? Does it pull up? Are stop signs blue to you as well?
LOL
that definition was made up by a bunch of economists at the NBER, it is not scientific theory (like gravity) nor is it codified into law as red stop signs are.
Are you a student in business school?
Last edited by Cletus Awreetus-Awrightus; 09-08-2011 at 09:18 AM..
A recession is not a subjective thing. A recession is not in place just because your neighbor is struggling. A recession is simply when GDP falls for two consecutive quarters.
As you can see, we pulled out of the recession in Q3 of 2010.
But that chart is a first class example of statistics failing to fully define the true economic problem. What it doesn't show is the hemorrhaging of household wealth due to the falling level of home prices, the levels of unsupportable debt, and the overall strains to the system. In that sense, relying strictly on growth rate as the determinant of economic health is not just simplistic--it's downright dangerous.
that definition was made up by a bunch of economists at the NBER, it is not scientific theory (like gravity) nor is it codified into law as red stop signs are.
But that chart is a first class example of statistics failing to fully define the true economic problem. What it doesn't show is the hemorrhaging of household wealth due to the falling level of home prices, the levels of unsupportable debt, and the overall strains to the system. In that sense, relying strictly on growth rate as the determinant of economic health is not just simplistic--it's downright dangerous.
It is generally called placing a "positive spin" on things.
Sort of stems from the belief that belief systems matter most.
Which is also The Ethos of the Con Man and the Bullsheeter.
We have seen much of this all along this Great Recession / Depression / Panic -- or Big Blue Elephant or whatever other Acceptable Marketing Term [tm] is placed on the ongoing nonsense.
Sort of funny looking back -- the term Depression (which of course had no make-believe definition when it started), was chosen because the prior term -- "Panic" was considered too extreme.
After "The Great Depression," the Depression term had to be retired because any major downturn would reference back to that. We were permitted to use Recession, after that.
Now that the Great Recession has hit, it too must be argued away and minimized, lest anyone capable of a independent thought see the Emperor has no clothes.
How About just calling this The Great Banking/Globalony/Corporate/Looter/Bullsheeter Failure?
THAT seems to truly fit the condition without much argument?
It is generally called placing a "positive spin" on things.
Sort of stems from the belief that belief systems matter most.
Which is also The Ethos of the Con Man and the Bullsheeter.
We have seen much of this all along this Great Recession / Depression / Panic -- or Big Blue Elephant or whatever other Acceptable Marketing Term [tm] is placed on the ongoing nonsense.
Sort of funny looking back -- the term Depression (which of course had no make-believe definition when it started), was chosen because the prior term -- "Panic" was considered too extreme.
After "The Great Depression," the Depression term had to be retired because any major downturn would reference back to that. We were permitted to use Recession, after that.
Now that the Great Recession has hit, it too must be argued away and minimized, lest anyone capable of a independent thought see the Emperor has no clothes.
How About just calling this The Great Banking/Globalony/Corporate/Looter/Bullsheeter Failure?
THAT seems to truly fit the condition without much argument?
That would be fine if you added the FHA/Fannie Mae/Federal Reserve Shell Game to the name. Because the depression we are going through today was actually a rare example of public/private cooperation.
that definition was made up by a bunch of economists at the NBER, it is not scientific theory (like gravity) nor is it codified into law as red stop signs are.
Are you a student in business school?
That is what a recession IS. Whether or not we are in a recession is not the sole indicator of the economic health of a nation. To me, I would have to wonder, are we in a recession? NO. Do we have a stable, economically viable future? Absolutely not.
Again - an economic recession cannot mean whatever the hell you want it to.
Quote:
Originally Posted by cpg35223
But that chart is a first class example of statistics failing to fully define the true economic problem. What it doesn't show is the hemorrhaging of household wealth due to the falling level of home prices, the levels of unsupportable debt, and the overall strains to the system. In that sense, relying strictly on growth rate as the determinant of economic health is not just simplistic--it's downright dangerous.
Whether or not we are in a recession is only a small piece of the overall economic health of a nation. We are not in a recession. That is not to say that all is well from an economic point of view.
Again - an economic recession cannot mean whatever the hell you want it to.
Yes it can. Who is going to stop me, the NBER?
Last edited by vter; 09-08-2011 at 05:08 PM..
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