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Since recovery is a feeling, then 90% of America isn't feeling it!
Posted with TapaTalk
Well a "recovery" isnt really a feeling, its 1 quarter of economic growth..
The problem with that though is that 4 years ago we had our quarter of economic growth, and while we continue to do so, its only because we are printing something like $60B a month to pump into things like the stock market..
So while the price of things go up, the value of those things are going down.
Democratic successes always seem to happen on paper and/or in theory.. Never in real life.
Status:
"everybody getting reported now.."
(set 27 days ago)
Location: Pine Grove,AL
29,573 posts, read 16,560,540 times
Reputation: 6044
Quote:
Originally Posted by pghquest
If your growing while devaluing the dollar, its not economic growth, its inflation..
The number of people working, as reported by last Fridays job report, is 63.2%, the lowest since 1978.
the word inflation has a far more detailed definition than what you just posted. And says so does not mean we arent in a recovery either.
The number of people working has nothing to do with whether or not the economy is growing, it has to do with how many people have jobs.
You can have job growth in a recession and you can have job decline in prosperity.
And Repeating that 1978 comment out of context us just being political. You dont mention older people are going back to school in some cases and retiring in others, or that a higher percentage of young people are choosing to go to school out of college and that those same kids are now staying in college a year long.
Well a "recovery" isnt really a feeling, its 1 quarter of economic growth..
The problem with that though is that 4 years ago we had our quarter of economic growth, and while we continue to do so, its only because we are printing something like $60B a month to pump into things like the stock market..
So while the price of things go up, the value of those things are going down.
Democratic successes always seem to happen on paper and/or in theory.. Never in real life.
I believe the average printing going on is well above $60B per month. It's been over $1T per year for the entire Obama presidency.
the word inflation has a far more detailed definition than what you just posted. And says so does not mean we arent in a recovery either.
The number of people working has nothing to do with whether or not the economy is growing, it has to do with how many people have jobs.
You can have job growth in a recession and you can have job decline in prosperity.
And Repeating that 1978 comment out of context us just being political. You dont mention older people are going back to school in some cases and retiring in others, or that a higher percentage of young people are choosing to go to school out of college and that those same kids are now staying in college a year long.
This should be good.
tell me how we're spending more, if there are less people working, and those that do have jobs, are working less hours..
the bs about old people and students is just that, bs, because thats been taking place since the beginning of time.. FAIL..
Bush warned Congress 12 times. Bush wanted regulation. Greenspan stated unequivocally F&F were a ticking time bomb.
To ignore those facts isn't productive.
Posted with TapaTalk
You are ignoring the fact that both the Clinton and Bush administrations resisted regulating the derivatives marketplace which was key to the collapse.
The chiefs of the federal regulatory agencies—Henry Paulson, Chris Cox and Ben Bernanke—have each called for better regulation of derivatives, the financial instruments at the center of the current crisis. Yet a look at their Senate confirmation hearings suggests they once held quite different views.
CRAPO:...
b) Do you agree with the view of Alan Greenspan and others that derivatives have helped create a far more flexible, efficient and resilient financial system?
....
PAULSON: I believe these proposals could have significant unintended consequences for the risk-management functions that the markets – whether over-the –counter or exchange-based – perform in our economy. It is my view that absent a clearly demonstrated need, we should be wary of major changes to the manner in which we regulate our derivatives markets. The importance of derivatives markets in the U.S. economy should not be taken lightly, as businesses, financial institutions, and investors throughout the economy rely on these markets to manage their risks and to protect themselves from market volatility.
....
Securities and Exchange Commission Chairman Cox now leads the call for increased regulation of derivatives. In testimony before the Senate Banking Committee on September 23, he singled out credit derivatives in particular, pointing out that the market in credit default swaps is “regulated by absolutely no one” making it “ripe for fraud and manipulation.”
... he [Cox] did not join calls to regulate them: “I’m concerned that now anything called a derivative will be considered inherent evil in Congress,” Cox said, according to the Orange County Register. “It is sort of like a fire hose: In the wrong hands, it is dangerous.” Did his opinion evolve by the time he was confirmed as SEC Chairman? You won’t find any clues by looking at his Senate confirmation hearing of July 2005. That is because no senator asked him a question about the topic. ...
SARBANES: Warren Buffett has warned us that derivatives are time bombs, both for the parties that deal in them and the economic system. The Financial Times has said so far, there has been no explosion, but the risks of this fast growing market remain real. How do you respond to these concerns? BERNANKE. I am more sanguine about derivatives than the position you have just suggested. I think, generally speaking, they are very valuable. They provide methods by which risks can be shared, sliced, and diced, and given to those most willing to bear them. They add, I believe, to the flexibility of the financial system in many different ways. With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly. The Federal Reserve’s responsibility is to make sure that the institutions it regulates have good systems and good procedures for ensuring that their derivatives portfolios are well managed and do not create excessive risk in their institutions.
In the last election, Romney was calling for repeal of the limited reforms that have taken place in the derivatives marketplace.
You are ignoring the fact that both the Clinton and Bush administrations resisted regulating the derivatives marketplace which was key to the collapse.
Oh please. The underlying problem was the housing bubble, caused by the repeal of Glass-Steagall in 1999. It took the Democrats and bankers less than a decade to cause another Great Depression.
Status:
"everybody getting reported now.."
(set 27 days ago)
Location: Pine Grove,AL
29,573 posts, read 16,560,540 times
Reputation: 6044
Quote:
Originally Posted by pghquest
This should be good.
tell me how we're spending more, if there are less people working, and those that do have jobs, are working less hours..
the bs about old people and students is just that, bs, because thats been taking place since the beginning of time.. FAIL..
The Fail is on your part.
A Higher percentage of young people are going to college instead of going directly into the work force. And those same kids are staying in college a year longer.
The same is said of old people, they make up a larger percentage of the population than in previous decades so them retiring means more than old people retiring in the 1970's because their are more of them as a segment of the population.
You could have made a much better argument against what i said but it looks like you either didnt care enough to try or you really are just trolling, I cant tell anymore.
Also, i would respond to the bold, but i honestly cant tell what you are trying to say there.
Last edited by dsjj251; 09-10-2013 at 04:36 PM..
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