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Both the 1981-82 and the 2007-09 downturns were long (16 months and 18 months, respectively) and painful (unemployment peaked at 10.8% in 1981-82 and 10.1% in the last one).
What's dramatically different, however, is how each president responded.
Well, we know the tale of obama - massive spending, massive government expansion at the expense of the private sector, government takeover of HC and burdensome, aggressive regulatory policy.
Check out the statistics.
Quote:
So while Obama's policies had little to do with bringing an end to the Great Recession, they've had everything to do with producing what is by far the worst economic recovery in the past 70 years.
No doubt. Do remember the recession officially ENDED in June of 2009, really before any of the pseudo-stimulus was distributed. Wasn't really a stimulus in the traditional sense anyway, just a massive slush fund, stolen from the private sector, to fund obama and the Left's long, long list of pet projects.
And now the Democrats are claiming that if the GOP does ANYTHING to stop this massive spending they will be responsible for wrecking the ficticius recovery.
And now the Democrats are claiming that if the GOP does ANYTHING to stop this massive spending they will be responsible for wrecking the ficticius recovery.
$5.00 a gallon gas and $6.00 diesel will do that anyway. I don't see any way we won't have a double dip recession in the next few months, if fuel prices keep going this way.
I went shopping yesterday. First to the grocery store which was not too crowded but not empty, either. Then I grabbed lunch at a local pizza place and it was empty at noon. That was a little unusual, it generally has about a half dozen people or so.
Then in the evening it was Wal mart. Lots of empty spaces in the parking lot which was unusual.
Gas prices are about $3.90 a gallon and I think thats the tipping point at $4.00 a gallon. At that point you'll see less spending, more layoffs and more for sale signs.
I went shopping yesterday. First to the grocery store which was not too crowded but not empty, either. Then I grabbed lunch at a local pizza place and it was empty at noon. That was a little unusual, it generally has about a half dozen people or so.
Then in the evening it was Wal mart. Lots of empty spaces in the parking lot which was unusual.
Gas prices are about $3.90 a gallon and I think thats the tipping point at $4.00 a gallon. At that point you'll see less spending, more layoffs and more for sale signs.
Meanwhile, obama is gutting domestic drilling and exploration. I guess he figures there is no connection between his jihad on drilling/production and the prices at the pump.
I went shopping yesterday. First to the grocery store which was not too crowded but not empty, either. Then I grabbed lunch at a local pizza place and it was empty at noon. That was a little unusual, it generally has about a half dozen people or so.
Then in the evening it was Wal mart. Lots of empty spaces in the parking lot which was unusual.
Gas prices are about $3.90 a gallon and I think thats the tipping point at $4.00 a gallon. At that point you'll see less spending, more layoffs and more for sale signs.
HA! Come visit here in Northern VA. There is NO recession here. Go to the shopping mall in the middle of the day and you still can't get a good parking spot. It's amazing. Back to the thread....
$5.00 a gallon gas and $6.00 diesel will do that anyway. I don't see any way we won't have a double dip recession in the next few months, if fuel prices keep going this way.
And do you realize the role the weak dollar plays in that price?
Back in the 1970s, Carter blamed rising energy costs for his stagflated economy. He also didn't understand rising energy costs were merely a symptom of his weak dollar, and it was his weak dollar that was driving inflation and interests rates leading to stagnation.
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