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Um, for those who are not scientifically inclined....this is normal....
No, you misunderstood what he said, but, then, we've come to expect that from you.
The US economy revolves around Alabama?
Didn't did you say Alabama was a craphole Red State that lived off of federal tax-dollars?
Now you're saying Alabama is the Financial & Industrial Capital of the US.
Wow....how much help did you have moving the goal-posts?
I doubt they would have engaged in a misguided attempt to misdirect America's wealth into the Black-Hole Abyss known as healthcare.
Um, the Wages/Salaries for each of the 800+ Job Skill-sets are determined by the Supply & Demand of each of the 800+ Job Skill-sets in each of the 1,539 Labor Markets in the US, and not by GDP.
But thanks for you attempt to Göbbelize and mislead everyone just the same.
Wages/Salaries are independent of GDP. A increase in GDP does not and cannot cause an increase in Wages/Salaries. Likewise a decrease in GDP cannot cause a decrease in Wages/Salaries.
You do realize that proves I was correct all along, right?
I am probably the only person in the US who suggested there would be a recession 2nd Quarter 2014.
I suggested that in April/May of 2013....right here on C-D.
I did not follow through with an actual prediction, due to the fact that when I returned to the US back in September, Obama had begun delaying the implementation of key provisions of Obamacare.
Over the next several months, Obama continued -- with the stroke of the special dictatorial pen -- to delay key provisions of Obamacare.
At that time, I believed those actions would be sufficient to delay....but not stop...the recession.
You do understand it's a lot of work, right?
All the math -- calculus -- and the statistical analysis is very time-consuming. Sure, I've got spreadsheets I set up 10 years ago when I was in grad school, but it still takes a lot of time, almost a freaking week.
Anyway, I should have followed through, not because I'm a fame-seeker, but because I do so love to gloat.
The other important point it proves is that health insurance companies were victims and not at fault.
The bad guy this entire time is exactly who I said it was: the American Hospital Association, your entire monopoly hospital system that illegally colludes to illegally engage in price-fixing, price-gouging and over-charging Americans for healthcare services, plus your obsolete antiquated Hospital Model of healthcare delivery.
That reminds me.....can you show us in Obamacare the penalty that a hospital must pay for price-gouging and over-charging a patient $55,000 for something that probably only costs $2,800?
The reason I ask is because Common Sense People cannot find where it says it is illegal for hospitals to price-fix, price-gouge or over-charge.
But, hey.....blame insurance companies anyway... "As to the people they have no understanding, and only repeat what their rulers are pleased to tell them" -- Protagoras
"...to get a doctrine accepted or rejected it is only necessary to have it praised or ridiculed in the Media by a popular celebrity..." -- Plato (with some literary license by me).
Anyway, it is your healthcare system, not your health insurance companies, that creates the destructive drag on your economy.
Normally...
Mircea
At the risk of being mocked for past posts that expose me as unworthy; thank you for this post
It sounds like they were grasping for an excuse. I expect a retraction in Q2 and an official recession.
Possibly.
Recessions occur because Capital is being inefficiently utilized and...or....also under-utilized.
Obama has done nothing but guarantee the inefficient use Capital, and guaranteed that those sectors of the economy which are being under-utilized....um, like your 5th Level Economy....continue to have Capital taken or withheld from them, so that they remain under-utilized.
Quote:
Originally Posted by toryturner
No one on this board is HOPING for a retraction.
I am.
I would like to see Obama resign and issue a retraction for his entire presidency.
Quote:
Originally Posted by toryturner
We would like for people to acknowledge what is happening.
Me, too.
However, there is the sticky matter of Reality®.
People will never acknowledge what is happening, until they are harmed.
If people do not suffer any negative consequences, then they do not learn anything.
What one learns is directly proportional to the amount of suffering one endures. The more you suffer, the greater your suffering, the more you learn......because, you don't want to ever go through that again, and you find away to avoid it.
Of course, there are The Stupid® who continually stick a fork in their eye and then cry that it hurts and that the government should shower them with money stolen from others, but that's beside the point.
The economy has been propped up by cheap money from the Fed and assorted games to make things look good. That crashing GDP is a reflection of reality peaking its head out from under the piles of debt that have been used to paper over the Great Recession.
Remember, there are still a horrible number of people out of work, despite our leadership's attempts to define them away, and the only jobs growing are ones with lousy wages - no other class of jobs has even returned to its Pre-Recession numbers, much less grown since then.
This is partly Obama's fault - and partly the fault of Bush and our worthless Congress (both parties), as well as the faults of every greedy, crooked corporate executive who happily sent thousands of jobs overseas so he can buy a bigger yacht. It's also the fault of every corporate apologist and sock-puppet out there who will gladly justify the gutting of our nation and the destruction of the middle and working class if it means his stock options go up by a penny per share this quarter.
I'll have to owe you another rep. Excellent post.
This is a subject that every thinking patriotic American can agree on, across the political spectrum. Because the pillaging of America by multi-national corporations has hurt us all and continues essentially unchallenged.
As a life-long conservative, it pains me to admit that you have pegged most of today's Republicans to a tee with the highlighted words. And it pains me even more to know that thus they are the simple answer to the question of how and why Obama was elected....twice.
Or is now Forbes a left wing bastion that is being controlled by shadowy forces?
Interesting comment in the linked article, some of this is a result of reduced government spending. LOL.
GDP is a excellent general guideline for many many things. small variations really are irrelevant, however 2.9% isnt small. Its a significant number. 1% I'd probably not care about as long as it didn't trend that way over a year or so.
2.9% isnt weather. Healthcare? Nope not buying that one either.
I do wonder if QE easing slowing down could be contributing. But really...when big recessions occur governments response near the end of them is to let up from the gas peddle, when that occurs you get some more drop (see double dip recession). Lots of interesting arguments about level of deficit spending during a recession, and the end. 20 years from now this will make for some interesting studies on economics. I think we will find its something similar to the great recession before.
There are no consequences for bad life decisions so learning from mistakes is no longer relevant. Stick a fork in your eye as much as you like. The taxpayers will pick up the ER bill.
Economy retracted the most since the great depression. We've had many a cold and horrible winter since that time. Yet the grand leader managed to beat em all out as the worst 1st quarter and you scream that a frozen beach is to blame for it all? Are you kidding me?
Obama's ACA have have also had some impact too, eh?
Mitt Romney is better? Tax cuts for the rich would have boosted the economy?
LOLOLOLOLOLOLOLOLOLOL
How did that work out for Bush?
First, both Romney and Bush favor tax cuts for ALL taxpayers, not just "the rich."
Second, after the Bush tax cuts in 2001 and 2003...
- Unemployment was as low as 4.5% (compare to today)
- GDP grew as much as 7.3% (one quarter in 2004), the biggest growth since 1984
- Government revenue from 2004-2007 increased by $785 billion, the largest four-year increase in U.S. history
First, both Romney and Bush favor tax cuts for ALL taxpayers, not just "the rich."
LOL!!!!!
Quote:
Originally Posted by Fleet
Second, after the Bush tax cuts in 2001 and 2003...
- Unemployment was as low as 4.5% (compare to today)
- GDP grew as much as 7.3% (one quarter in 2004), the biggest growth since 1984
- Government revenue from 2004-2007 increased by $785 billion, the largest four-year increase in U.S. history
What happened in 2007 and 2008?
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