Sorry Libs - Still NO Recession

[red states rule]

This must put a frown on the faces of libs everywhere - the GDP grew in the second quarter

Once again, NO RECESSION


US GDP Expands 1.9% in Second Quarter


The U.S. Commerce Department said the nation’s economy grew at a tepid 1.9% annual rate in the second quarter of the year, primarily boosted by the $160 billion in stimulus checks sent out to consumers in May and June.

That figure, however, was below Wall Street economist expectations of a growth rate of 2.3%, according to data provided by Thomson Reuters.

The first quarter 2008 and fourth quarter 2007 gross domestic product growth rates were revised downward however, the Commerce Department said.

Fourth quarter GDP was revised to a negative 0.2% annual rate, while first quarter GDP was revised to a 0.9% annual rate.

GDP is the broadest indicator of a nation’s economy as total sum of all goods and services sold in a select period of time. It is also used by economists as the official gauge of when an economy enters or exists a recession.

http://www.foxbusiness.com/story/markets/economy/gdp-grew--rate-second-quarter/

[SpidermanTUba]

This must put a frown on the faces of libs everywhere - the GDP grew in the second quarter


Why would you think that would put a frown on my face?

[red states rule]

Why would you think that would put a frown on my face?

Most of the libs I have seen have been telling the folks the US has been in a recession for over a year. This news is very disappointing for them

Good news for America (like no recession) is bad news for libs and the Dem party

[SpidermanTUba]

Most of the libs I have seen have been telling the folks the US has been in a recession for over a year. This news is very disappointing for them

Good news for America (like no recession) is bad news for libs and the Dem party
OK, but I'm talking about the libs you have seen. You told me that this news is very disappointing to liberals everywhere - I'm a liberal. I want to know why I should be disappointed.

[red states rule]

OK, but I'm talking about the libs you have seen. You told me that this news is very disappointing to liberals everywhere - I'm a liberal. I want to know why I should be disappointed.

It takes the air out of your elected Dems talking points

It is bad news for the liberal media to report

So unless Dem change the definition of what a recession is, the news is contray to what the MSM and the Dems have been telling the folks

The economy is a far cry from armageddon and shanty towns as Dems and the liberla media have told you about

[avatar4321]

Why would you think that would put a frown on my face?

because it makes you look dumb when you argue a recession.

[Silver]

Guess they'll have to go back to telling us that we lost the war in Iraq....
That the US Military is 'broken'...whatever the fuck that means....
Economy is in a shambles....
Everyone is out of work (despite 4.5% to 5.2% unemployment)
and in the next breath, "illegals are good for the country"

I suggest you be careful with investments.....the more Obama is thought be the next President, the more the DOW will fall....put your bucks in cash now....in your pillow case at home...
at least you'll have the money to pay for coming reparations, for you know what....:poke:

[April15]

Well the numbers are not making me any happier as I still have no work and most all in construction are sitting around looking for work. That is recession to me. If you are not hurting financially then you are part of the problem.

[red states rule]

If you are not hurting financially then you are part of the problem.

So if we know how to manage our finances, and are doing well in a growing economy, that is a bad thing?

[Kathianne]

Well the numbers are not making me any happier as I still have no work and most all in construction are sitting around looking for work. That is recession to me. If you are not hurting financially then you are part of the problem.

Do you realize how idiotic this post is?

[April15]

So if we know how to manage our finances, and are doing well in a growing economy, that is a bad thing?It is more than knowing how to manage it is having the money to manage.

[red states rule]

It is more than knowing how to manage it is having the money to manage.

Maybe if you stopped whining so much, and spent more time finding a way to earn some money - you would be better off

[retiredman]

Maybe if you stopped whining so much, and spent more time finding a way to earn some moemny - you would be better off

I would think one of the first things one needs to do when trying to ear some money, is at least learn how to SPELL it!


How much YOU earnin' these days, there RSR? My guess is that my two pensions PLUS my salary whoops the shit out of YOUR take home! :laugh2:

Shit...my guess is, my wife brings home more than you do on her own!

[red states rule]

I would think one of the first things one needs to do when trying to ear some money, is at least learn how to SPELL it!


How much YOU earnin' these days, there RSR? My guess is that my two pensions PLUS my salary whoops the shit out of YOUR take home! :laugh2:

Shit...my guess is, my wife brings home more than you do on her own!

So know you know how much I earn? Good for you

Maybe since you have so much you will send a check to April and show that liberal compassion we hear so much about

Or do you believe in showing liberal compassion with OPM (other people's money)

[Kathianne]

I would think one of the first things one needs to do when trying to ear some money, is at least learn how to SPELL it!


How much YOU earnin' these days, there RSR? My guess is that my two pensions PLUS my salary whoops the shit out of YOUR take home! :laugh2:

Shit...my guess is, my wife brings home more than you do on her own!

Bully for you. Your wife doesn't earn much, huh? Otherwise I doubt you'd be using her to dis RSR, for a post that has zip to do with you or your wife. Interestingly enough you'll probably claim that someone was dissing her, when it was you that brought her up.

[SpidermanTUba]

It takes the air out of your elected Dems talking points

It is bad news for the liberal media to report

So unless Dem change the definition of what a recession is, the news is contray to what the MSM and the Dems have been telling the folks




OK. But how is it a disappointment to ME? YOU said it was a disappointment to liberals EVERYWHERE. I'm a LIBERAL. I am SOMEWHERE. So you said that I should be disappointed that we're not in a recession.

I want to know why I should be. Not why other people should be.



The economy is a far cry from armageddon and shanty towns as Dems and the liberla media have told you about

Link? I haven't seen any Dems talk about shanty towns. Can you link me to something showing this?

[red states rule]

OK. But how is it a disappointment to ME? YOU said it was a disappointment to liberals EVERYWHERE. I'm a LIBERAL. I am SOMEWHERE. So you said that I should be disappointed that we're not in a recession.

I want to know why I should be. Not why other people should be.



Link? I haven't seen any Dems talk about shanty towns. Can you link me to something showing this?

You need to pay attention to what your elected Dems are saying, and how the liberal media has been painting a picture of doom and gloom

[SpidermanTUba]

You need to pay attention to what your elected Dems are saying, and how the liberal media has been painting a picture of doom and gloom


OK.

BUT I STILL WANT TO KNOW WHY YOU THINK I SHOULD BE DISAPPOINTED THAT GDP WAS POSITIVE LAST QUARTER. CAN YOU UNDERSTAND ENGLISH?

[red states rule]

OK.

BUT I STILL WANT TO KNOW WHY YOU THINK I SHOULD BE DISAPPOINTED THAT GDP WAS POSITIVE LAST QUARTER. CAN YOU UNDERSTAND ENGLISH?

Unless you are breaking away from your party and disagree with the liberal media - you should be disappointed

Elected Dems and the liberal media are upset with the good news

[retiredman]

Unless you are breaking away from your party and disagree with the liberal media - you should be disappointed

Elected Dems and the liberal media are upset with the good news

:link:

[SpidermanTUba]

Unless you are breaking away from your party and disagree with the liberal media - you should be disappointed


WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY? WHY?



Elected Dems and the liberal media are upset with the good news

OK. Since you said that liberals EVERYWHERE were disappointed at it, its kind of obvious that any subset of liberals were also disappointed.




But what you don't seem to be getting, is that I WANT TO KNOW WHY I SHOULD BE DISAPPOINTED.

[red states rule]

:link:

Here is one example

CBS Turns Doubled GDP into 'Disappointing' News, ABC & NBC Silent
By Brent Baker (Bio | Archive)
July 31, 2008 - 22:15 ET

Second quarter Gross Domestic Product (GDP) doubled to 1.9 percent, up from 0.9 percent in the first quarter, the Commerce Department announced Thursday morning as consumer spending rose 1.5 percent in the quarter ending June 30, up from 0.9 percent in the first quarter, and U.S. exports soared 9.2 percent, way up from 5.1 percent in the first three months of 2008

Yet the CBS Evening News centered a story around “disappointing” news about the supposedly “struggling economy” (with that on screen) -- while ABC and NBC, which on April 30 led with full stories on the news of a 0.6 percent (since revised to 0.9) first quarter GDP, didn't utter a syllable Thursday night about the big GDP jump. On the last day of April, ABC's Betsy Stark declared the economy had “flat lined” and NBC anchor Brian Williams warned “it's getting rough out there” as the new GDP number “stops just short of the official declaration of a recession.” Thursday night, however, ABC's World News and NBC Nightly News made time for full stories on outrage over ExxonMobil earning “the largest profit ever made by a U.S. company.” The “oil industry says it is not out of line, but some motorists feel otherwise.”

CBS anchor Katie Couric, picking up on the 4th quarter 2007 GDP revision from 0.6 percent to a minus 0.2, stressed how “the government now says the economy was receding, not growing, in the final quarter of last year” though “it picked up a bit in the first quarter of this year.” She then twisted the fresh news of a 1.9 percent jump into a negative:

But look at this: In the second quarter, when all those rebate checks were supposed to stimulate the economy, it grew less than two percent. Jeff Glor has more about the disappointing numbers.

http://newsbusters.org/blogs/brent-baker/2008/07/31/cbs-turns-doubled-gdp-disappointing-news-abc-nbc-silent

[SpidermanTUba]

Here is one example

CBS Turns Doubled GDP into 'Disappointing' News, ABC & NBC Silent
By Brent Baker (Bio | Archive)
July 31, 2008 - 22:15 ET

Second quarter Gross Domestic Product (GDP) doubled to 1.9 percent, up from 0.9 percent in the first quarter, the Commerce Department announced Thursday morning as consumer spending rose 1.5 percent in the quarter ending June 30, up from 0.9 percent in the first quarter, and U.S. exports soared 9.2 percent, way up from 5.1 percent in the first three months of 2008

Yet the CBS Evening News centered a story around “disappointing” news about the supposedly “struggling economy” (with that on screen) -- while ABC and NBC, which on April 30 led with full stories on the news of a 0.6 percent (since revised to 0.9) first quarter GDP, didn't utter a syllable Thursday night about the big GDP jump. On the last day of April, ABC's Betsy Stark declared the economy had “flat lined” and NBC anchor Brian Williams warned “it's getting rough out there” as the new GDP number “stops just short of the official declaration of a recession.” Thursday night, however, ABC's World News and NBC Nightly News made time for full stories on outrage over ExxonMobil earning “the largest profit ever made by a U.S. company.” The “oil industry says it is not out of line, but some motorists feel otherwise.”

CBS anchor Katie Couric, picking up on the 4th quarter 2007 GDP revision from 0.6 percent to a minus 0.2, stressed how “the government now says the economy was receding, not growing, in the final quarter of last year” though “it picked up a bit in the first quarter of this year.” She then twisted the fresh news of a 1.9 percent jump into a negative:

But look at this: In the second quarter, when all those rebate checks were supposed to stimulate the economy, it grew less than two percent. Jeff Glor has more about the disappointing numbers.

http://newsbusters.org/blogs/brent-baker/2008/07/31/cbs-turns-doubled-gdp-disappointing-news-abc-nbc-silent




Forget the liberals, why don't you tell us why you think Wall Street was disappointed at the news?

If 1.9% GDP growth is such great news, why did the DOW tank 200 points when it came out? I thought the stock market responded positively to great news?

Tell you what, I'd LOVE for the economy to be good. I've go stock in Fannie Mae. I'd LOVE for the economy to be good.



But YOU'VE told me I should be disappointed at it, AND I WANT TO KNOW WHY. Instead, you tell me why OTHER people are disappointed.

[red states rule]

Forget the liberals, why don't you tell us why you think Wall Street was disappointed at the news?

If 1.9% GDP growth is such great news, why did the DOW tank 200 points when it came out? I thought the stock market responded positively to great news?

Tell you what, I'd LOVE for the economy to be good. I've go stock in Fannie Mae. I'd LOVE for the economy to be good.



But YOU'VE told me I should be disappointed at it, AND I WANT TO KNOW WHY. Instead, you tell me why OTHER people are disappointed.

Mostly because oil shot up

With Dems, any good news for America is bad news for them

Look at Iraq. I do not see Dems holding hearings like they were, or the liberal media reporting on what is going on every night like they used to

[SpidermanTUba]

Mostly because oil shot up


OK, that makes sense.

Except for the fact it isn't even TRUE. Oil futures fell over 2 bucks on the 31st, buddy!

http://www.nymex.com/lsco_fut_pso.aspx




With Dems, any good news for America is bad news for them


OK. SO WHY IS IS BAD NEWS FOR ME? ARE YOU INCAPABLE OF RESPONDING TO THE QUESTION?

[red states rule]

OK, that makes sense.

Except for the fact it isn't even TRUE. Oil futures fell over 2 bucks on the 31st, buddy!

http://www.nymex.com/lsco_fut_pso.aspx




OK. SO WHY IS IS BAD NEWS FOR ME? ARE YOU INCAPABLE OF RESPONDING TO THE QUESTION?

OK, I was think of Wed price spike

Light, sweet crude fell $2.69 to settle at $124.08 a barrel on the New York Mercantile Exchange after rising more than $4.50 on Wednesday. Oil has fallen more than $20 since hitting a high above $147 on July 11, raising hopes that inflation pressures could ease.

http://www.msnbc.msn.com/id/3683270/

So you are not disappointed - good for you. Your elected Dmes are like the liberal media

http://www.msnbc.msn.com/id/25953746/

[Dfresh]

This must put a frown on the faces of libs everywhere - the GDP grew in the second quarter

Once again, NO RECESSION


US GDP Expands 1.9% in Second Quarter


The U.S. Commerce Department said the nation’s economy grew at a tepid 1.9% annual rate in the second quarter of the year, primarily boosted by the $160 billion in stimulus checks sent out to consumers in May and June.

That figure, however, was below Wall Street economist expectations of a growth rate of 2.3%, according to data provided by Thomson Reuters.

The first quarter 2008 and fourth quarter 2007 gross domestic product growth rates were revised downward however, the Commerce Department said.

Fourth quarter GDP was revised to a negative 0.2% annual rate, while first quarter GDP was revised to a 0.9% annual rate.

GDP is the broadest indicator of a nation’s economy as total sum of all goods and services sold in a select period of time. It is also used by economists as the official gauge of when an economy enters or exists a recession.

http://www.foxbusiness.com/story/markets/economy/gdp-grew--rate-second-quarter/

Get back to work then. Oh that's right you're unemployed....lol

Watch this...

http://thinkprogress.org/2007/09/20/bush-econ101/

[red states rule]

Get back to work then. Oh that's right you're unemployed....lol

Watch this...

http://thinkprogress.org/2007/09/20/bush-econ101/

It has been a bad week for Dems. More bad econmic news for them - no recession

http://www.reuters.com/article/businessNews/idUSN3043337220080731?feedType=RSS&feedName=businessNews&rpc=23&sp=true

[bullypulpit]

This must put a frown on the faces of libs everywhere - the GDP grew in the second quarter

Once again, NO RECESSION


US GDP Expands 1.9% in Second Quarter


The U.S. Commerce Department said the nation’s economy grew at a tepid 1.9% annual rate in the second quarter of the year, primarily boosted by the $160 billion in stimulus checks sent out to consumers in May and June.

That figure, however, was below Wall Street economist expectations of a growth rate of 2.3%, according to data provided by Thomson Reuters.

The first quarter 2008 and fourth quarter 2007 gross domestic product growth rates were revised downward however, the Commerce Department said.

Fourth quarter GDP was revised to a negative 0.2% annual rate, while first quarter GDP was revised to a 0.9% annual rate.

GDP is the broadest indicator of a nation’s economy as total sum of all goods and services sold in a select period of time. It is also used by economists as the official gauge of when an economy enters or exists a recession.

http://www.foxbusiness.com/story/markets/economy/gdp-grew--rate-second-quarter/

New home sales dropped for a seventh straight month...Down 33.2% from a year ago. <a href=http://www.msnbc.msn.com/id/25848138/>MSNBC</a>

Existing home sales dropped 2.6% from last month, down 15.5% from last year...<a href=http://www.msnbc.msn.com/id/25830491/>MSNBC</a>

<blockquote>Figures from research firm RealtyTrac showed that one in every 171 US households was in the process of losing their home - <b><i>up 121% on last year</i></b>. - <a href=http://news.bbc.co.uk/2/hi/business/7525591.stm>BBC</a></blockquote>

<blockquote>Jobless claims rose to their highest level in five years last week, the latest evidence that Americans are still having a hard time finding a job. <a href=http://money.cnn.com/2008/07/31/news/economy/jobless_claims/?postversion=2008073110>CNN</a></blockquote>

Yeah...everything is coming up roses.

[red states rule]

New home sales dropped for a seventh straight month...Down 33.2% from a year ago. <a href=http://www.msnbc.msn.com/id/25848138/>MSNBC</a>

Existing home sales dropped 2.6% from last month, down 15.5% from last year...<a href=http://www.msnbc.msn.com/id/25830491/>MSNBC</a>

<blockquote>Figures from research firm RealtyTrac showed that one in every 171 US households was in the process of losing their home - <b><i>up 121% on last year</i></b>. - <a href=http://news.bbc.co.uk/2/hi/business/7525591.stm>BBC</a></blockquote>

<blockquote>Jobless claims rose to their highest level in five years last week, the latest evidence that Americans are still having a hard time finding a job. <a href=http://money.cnn.com/2008/07/31/news/economy/jobless_claims/?postversion=2008073110>CNN</a></blockquote>

Yeah...everything is coming up roses.

Even with all that BP, the economy still GROWS by 1.9%

That should tell you how strong the US economy is

[SpidermanTUba]

So you are not disappointed - good for you.


WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?
WHY DO YOU THINK I SHOULD BE?

[red states rule]

More on the disappointment of the liberal media

BusinessWeek 'Recession in America' Blog Goes Belly-up
By Jeff Poor (Bio | Archive)
August 1, 2008 - 10:53 ET

Looking for new and innovative ways to spread the doom-and-gloom news associated with the economic downturn, BusinessWeek magazine launched a recession blog on its Web site back in May to give a personalized glimpse into "recession" hardships.

"This blog is one of the places we'll tell these stories," BusinessWeek.com reporter Tim Catts wrote on the blog's first post on May 2. "Here, we'll jump into the conversation about where the economy is and where it's going. Yes, sometimes we'll look at the latest data. Sometimes we'll share observations from the road. The goal is to give readers real stories about how the downturn is affecting individuals, businesses, and communities."

However, activity on the blog has been scarce of late. Nearly three months later, there are just 22 posts. Meanwhile, the nation's Gross Domestic Product grew at a 1.9 percent pace for the second quarter of 2008, according to government estimates announced July 31.

http://newsbusters.org/blogs/jeff-poor/2008/08/01/businessweek-recession-america-blog-goes-belly

[bullypulpit]

Even with all that BP, the economy still GROWS by 1.9%

That should tell you how strong the US economy is

Home ownership is the engine which powers the US economy...with more and more people being foreclosed on, that engine is stalling. Secondly the continued occupation of Iraq and the budget deficits it has spawned will be a drag on the economy for decades to come. Thirdly the dollar is in free fall...has been since Chimpy took office...and has only accelerated it's descent. And with inflation at 4.2% in the second quarter, the gains in the GDP are manifested only on paper.

Look at the big picture...But conservatives aren't really big picture people. They just unquestioningly accept what ever authority figures tell them.

[bullypulpit]

WHY DO YOU THINK I SHOULD BE?


Give it up Spidey...Red's just gonna waste more bandwidth with his cut-and-paste crap.

[red states rule]

Give it up Spidey...Red's just gonna waste more bandwidth with his cut-and-paste crap.

So now news articles that show the US is NOT in recession is cut and past crap to the liberal moonbats :laugh2:

[SpidermanTUba]

So now news articles that show the US is NOT in recession is cut and past crap to the liberal moonbats :laugh2:

I'm still waiting for you to tell me why I should be disappointed.

[bullypulpit]

So now news articles that show the US is NOT in recession is cut and past crap to the liberal moonbats :laugh2:

Newsbusters...a REAL reliable and objective source. And I noticed you didn't address any of the issues I raised in a direct manner, with links to support any on your objections. Of course, that would require some cognitive effort on your part. Effort which you have consistently shown yourself to be incapable of.

[Psychoblues]

Surprise, surprise!!!!!!!!!



Newsbusters...a REAL reliable and objective source. And I noticed you didn't address any of the issues I raised in a direct manner, with links to support any on your objections. Of course, that would require some cognitive effort on your part. Effort which you have consistently shown yourself to be incapable of.

What did you expect?!?!?!?!?!?!?!?!?!?!? He ditched my challenge a while back, bp. He's like but much less than his prez. All hat, no cattle. Dig it?!?!?!??!??!??!

Hit it, Willie, Stardust: :salute::cheers2::clap::laugh2::cheers2::salute:

[red states rule]

Newsbusters...a REAL reliable and objective source. And I noticed you didn't address any of the issues I raised in a direct manner, with links to support any on your objections. Of course, that would require some cognitive effort on your part. Effort which you have consistently shown yourself to be incapable of.

Yea, BP pretty flimsy facts. Only the link where you can go and see for yourself. But being a lib you want things handed to you - so here you go



BusinessWeek 'Recession Blog' Inactive a Whole Month as GDP Jumps 1.9 Percent

Posts few and far between three months after magazine debuts 'stories of how individuals are coping with the downturn

Just a couple shorts months ago, the media were preaching a doom-and-gloom scenario about the economic downturn – feeling a need to illustrate various ways of economic hardship.

BusinessWeek magazine even went as far as to launch a recession blog on its Web site in May to give this personalized glimpse into people’s lives.

“This blog is one of the places we’ll tell these stories,” BusinessWeek.com reporter Tim Catts wrote on the blog’s first post on May 2. “Here, we’ll jump into the conversation about where the economy is and where it’s going. Yes, sometimes we’ll look at the latest data. Sometimes we’ll share observations from the road. The goal is to give readers real stories about how the downturn is affecting individuals, businesses, and communities.”

But, the economy is doing better than some in the media predicted and the blog has been neglected. Nearly three months later, there are just 22 posts. Meanwhile, the preliminary gross domestic product grew at a 1.9 percent pace for the second quarter of 2008 on July 31. The last post was made on July 3 by John A. Byrne about the ailing job market. The blog has only been updated three times since June 4.

On CNBC’s July 30 “Mad Money,” nearly a year after his on-air meltdown about Fed monetary policy and the pending repercussions – which some turned out to be true, host Jim Cramer called the bottom to the stock market. He said it occurred on July 15 and things are rebounding – a sign which could be interpreted as an improving economy.

“It smells to me like something, in fact many things have at last changed for the better,” Cramer said.

http://businessandmedia.org/articles/2008/20080731190208.aspx

[red states rule]

Home ownership is the engine which powers the US economy...with more and more people being foreclosed on, that engine is stalling. Secondly the continued occupation of Iraq and the budget deficits it has spawned will be a drag on the economy for decades to come. Thirdly the dollar is in free fall...has been since Chimpy took office...and has only accelerated it's descent. And with inflation at 4.2% in the second quarter, the gains in the GDP are manifested only on paper.

Look at the big picture...But conservatives aren't really big picture people. They just unquestioningly accept what ever authority figures tell them.

Eh, the default rate among homeowners is about 1.5%

Which means 98.5% of homeowners are paying on time

Yep, a ral meltdown BP :laugh2:

[retiredman]

if there is no problem in the home mortgage sector of the economy, RSR, why did your president just sign the bill into law that provides relief to that sector of the economy?

[red states rule]

if there is no problem in the home mortgage sector of the economy, RSR, why did your president just sign the bill into law that provides relief to that sector of the economy?

the best way to make an issue into a problem is let the government try to solve it

Again, 1.5% default rate is not a crisis. It is more handouts using my money to bail stupid people out the problem they got into all on their own

[retiredman]

the best way to make an issue into a problem is let the government try to solve it

Again, 1.5% default rate is not a crisis. It is more handouts using my money to bail stupid people out the problem they got into all on their own

why would your hero/president Bush sign such a bill if there wasn't a real problem?

[red states rule]

why would your hero/president Bush sign such a bill if there wasn't a real problem?

the same reason he has pushing for amnesity - he is wrong on the issue

Again 1.5% is not a crisis. If customers for your power company had 1.5% of their cusotmers late on their bills, would you call it a crisis?

Not that I expect you to give an honest answer

[retiredman]

the same reason he has pushing for amnesity - he is wrong on the issue

Again 1.5% is not a crisis. If customers for your power company had 1.5% of their cusotmers late on their bills, would you call it a crisis?

Not that I expect you to give an honest answer


the honest answer is: it would depend on how big the aggregate amount of the overdue bills from the 1.5% was.

Additionally, if the customers were not merely "late" with their bills, but had stopped paying altogether, we would simply cut off their service. That is not an option with a mortgage.

[red states rule]

the honest answer is: it would depend on how big the aggregate amount of the overdue bills from the 1.5% was.

Additionally, if the customers were not merely "late" with their bills, but had stopped paying altogether, we would simply cut off their service. That is not an option with a mortgage.

and the bank cuts off their abiltiy to live in the home

Libs are so quick to reward bad behaviour - then wonder why the bad behavior continues

But it does give you guys the excuse to spend more of our mone,y and raise our taxes

[retiredman]

and the bank cuts off their abiltiy to live in the home

Libs are so quick to reward bad behaviour - then wonder why the bad behavior continues

But it does give you guys the excuse to spend more of our mone,y and raise our taxes
have you noticed that bank foreclosures are skyrocketing...and what does that do to the bank? they kick people out of their homes.... and then they have empty homes on their books for way more money than they can sell them for that they need to maintain.... your power company analogy shows how little you really understand about this process.

[red states rule]

have you noticed that bank foreclosures are skyrocketing...and what does that do to the bank? they kick people out of their homes.... and then they have homes on their books for way more money than they can sell them for.... your power company analogy shows how little you really understand about this process.

1.5% - please remember that number - or keep ignoring it as you are currently doing

[retiredman]

1.5% - please remember that number - or keep ignoring it as you are currently doing

already answered. now address my point

[red states rule]

already answered. now address my point

The market can correct itself. Banks will eitherr deal with it - or another bank will buy them out

Government bailouts and more regularion will make the problem worse. But to power mad libs like you - you love it when the handouts are made, and more power acquired

[retiredman]

The market can correct itself. Banks will eitherr deal with it - or another bank will buy them out

Government bailouts and more regularion will make the problem worse. But to power mad libs like you - you love it when the handouts are made, and more power acquired


your knowledge of banking would fit in a coffee cup and there would still be room for a cup of coffee.

[red states rule]

your knowledge of banking would fit in a coffee cup and there would still be room for a cup of coffee.

I work for a mortgage company - I know how it works asshole

The last thing we need is the government trying to "help"

[retiredman]

I work for a mortgage company - I know how it works asshole

The last thing we need is the government trying to "help"

emptying the trashcans at a mortgage company does not necessarily give you knowledge of the mortgage industry.:laugh2:

[red states rule]

emptying the trashcans at a mortgage company does not necessarily give you knowledge of the mortgage industry.:laugh2:

I have written refi's, and sold new ones. I have handled escrow questions and tax issues

All you care about is spending more tax money from the producers and giving t away to people who bought a house they could bot afford. But it increase your power and size of govenrment - and another reason to say we need to habd over more of our income in taxes

[Abbey Marie]

So know you know how much I earn? Good for you

Maybe since you have so much you will send a check to April and show that liberal compassion we hear so much about
Or do you believe in showing liberal compassion with OPM (other people's money)

That is priceless. :clap:

[mundame]

Guess they'll have to go back to telling us that we lost the war in Iraq....
That the US Military is 'broken'...whatever the fuck that means....

All that is true, I think ---


Economy is in a shambles....

Could be worse, could be better....



Everyone is out of work (despite 4.5% to 5.2% unemployment)

5.7% as of Friday. This is not awful (7% unemployment counts as "awful," if I recall from the Carter years).



and in the next breath, "illegals are good for the country"

No. IMO.

[mundame]

Here is one example

CBS Turns Doubled GDP into 'Disappointing' News, ABC & NBC Silent
By Brent Baker (Bio | Archive)
July 31, 2008 - 22:15 ET

Second quarter Gross Domestic Product (GDP) doubled to 1.9 percent, up from 0.9 percent in the first quarter, the Commerce Department announced Thursday morning as consumer spending rose 1.5 percent in the quarter ending June 30, up from 0.9 percent in the first quarter, and U.S. exports soared 9.2 percent, way up from 5.1 percent in the first three months of 2008

Yet the CBS Evening News centered a story around “disappointing” news about the supposedly “struggling economy” (with that on screen) -- while ABC and NBC, which on April 30 led with full stories on the news of a 0.6 percent (since revised to 0.9) first quarter GDP, didn't utter a syllable Thursday night about the big GDP jump. On the last day of April, ABC's Betsy Stark declared the economy had “flat lined” and NBC anchor Brian Williams warned “it's getting rough out there” as the new GDP number “stops just short of the official declaration of a recession.” Thursday night, however, ABC's World News and NBC Nightly News made time for full stories on outrage over ExxonMobil earning “the largest profit ever made by a U.S. company.” The “oil industry says it is not out of line, but some motorists feel otherwise.”

CBS anchor Katie Couric, picking up on the 4th quarter 2007 GDP revision from 0.6 percent to a minus 0.2, stressed how “the government now says the economy was receding, not growing, in the final quarter of last year” though “it picked up a bit in the first quarter of this year.” She then twisted the fresh news of a 1.9 percent jump into a negative:

But look at this: In the second quarter, when all those rebate checks were supposed to stimulate the economy, it grew less than two percent. Jeff Glor has more about the disappointing numbers.

http://newsbusters.org/blogs/brent-baker/2008/07/31/cbs-turns-doubled-gdp-disappointing-news-abc-nbc-silent


Good answer to Spiderman Tuba, IMO.

The rebate checks seem to have been a good idea.

[Psychoblues]

Fantastic!!!!!!!!!!



The rebate checks seem to have been a good idea.

Obama is promising $1,000 rebates to us!!!!!!! I think he see's their value just like you and me!!!!!!!!!!!!

[red states rule]

Fantastic!!!!!!!!!!



Obama is promising $1,000 rebates to us!!!!!!! I think he see's their value just like you and me!!!!!!!!!!!!

The difference is, the first rebate was OUR TAX MONEY

Now the messiah expects the oil companies to give us the money. Just another wealth transfer idea by the left

[red states rule]

That is priceless. :clap:

Thank you

[CockySOB]

Fantastic!!!!!!!!!!

Obama is promising $1,000 rebates to us!!!!!!! I think he see's their value just like you and me!!!!!!!!!!!!

Sorry. I can't be bought off by Obama promising to give me someone else's money. The Bush tax rebate was my own money coming back to me, which is proper. The Obama plan relies on taking someone else's money and trying to buy my vote with it - and that is both cowardly and unethical - but it's business as usual for the Democrats.

[red states rule]

Sorry. I can't be bought off by Obama promising to give me someone else's money. The Bush tax rebate was my own money coming back to me, which is proper. The Obama plan relies on taking someone else's money and trying to buy my vote with it - and that is both cowardly and unethical - but it's business as usual for the Democrats.

Libs for some reason see nothing wrong with taking money from the producers and giving it to the non producers

What the hell mdo libs think will happen to price of gas if Obama gets his way? How much will this $1000 cost people in the long run? An extra 25 or 30 cents added to price of a gallon of gas?

How much of an increase in the price of food as the additional cost of transportation is added one?

[mundame]

Sorry. I can't be bought off by Obama promising to give me someone else's money. The Bush tax rebate was my own money coming back to me, which is proper. The Obama plan relies on taking someone else's money and trying to buy my vote with it - and that is both cowardly and unethical - but it's business as usual for the Democrats.


Excellent point!

[red states rule]

For some reason the Obamabots think they will get "free money" from the messiah


http://www.strangepolitics.com/images/content/125462.gif

[CooterBrown44]

Sorry. I can't be bought off by Obama promising to give me someone else's money. The Bush tax rebate was my own money coming back to me, which is proper. The Obama plan relies on taking someone else's money and trying to buy my vote with it - and that is both cowardly and unethical - but it's business as usual for the Democrats.

Sorry.....that money was borrowed, or at least money will have to be borrowed to replace it.

The thread title is a joke. First of all, I don't know any liberals who want to see a recession. Second of all, we're probably in one. The indicators are all there, but I think things either need to stay the same or get worse over a period of time before I would officially call it a recession.

The economy goes through up and down cycles. This could turn out just to be a down cycle, but I'm seeing some things that I do not like. Certainly we would be better off if we weren't so far in debt and Bush hadn't destroyed the value of the dollar.

[CooterBrown44]

and the bank cuts off their abiltiy to live in the home

Libs are so quick to reward bad behaviour - then wonder why the bad behavior continues

But it does give you guys the excuse to spend more of our mone,y and raise our taxes

Then you can no doubt explain why Bush signed the Bill bailing out Fannie Mae and Freddie Mac.

This should be good.

[red states rule]

Then you can no doubt explain why Bush signed the Bill bailing out Fannie Mae and Freddie Mac.

This should be good.

and as I posted, he was wrong

With the Federal government "helping" the problem will only get worse in time

[CooterBrown44]

and as I posted, he was wrong

With the Federal government "helping" the problem will only get worse in time

Then you get a round of applause from me.

I tried to get all of the pages on the thread, but I don't think that I did, so I probably missed your post.

[red states rule]

Then you get a round of applause from me.

I tried to get all of the pages on the thread, but I don't think that I did, so I probably missed your post.

I posted it in response to one of MFM's posts. All this does is expand the size of government, and increase spending

[Yurt]

Fantastic!!!!!!!!!!



Obama is promising $1,000 rebates to us!!!!!!! I think he see's their value just like you and me!!!!!!!!!!!!

so he is bribing you to vote for him...

[CockySOB]

Then you can no doubt explain why Bush signed the Bill bailing out Fannie Mae and Freddie Mac.

This should be good.

He shouldn't have. Period.

[Kathianne]

He shouldn't have. Period.

Most of us are on agreement here.

I would dare say, most of us are on agreement that the administration has gone too soft on terror in the past 2 years, at least.

[CooterBrown44]

I posted it in response to one of MFM's posts. All this does is expand the size of government, and increase spending


Agreed. I see that neither or us likes that.

[mundame]

I would dare say, most of us are on agreement that the administration has gone too soft on terror in the past 2 years, at least.


What terror are you speaking of? I'm not thinking of any incidents in the last two years ----- am I blanking something out?

[Kathianne]

What terror are you speaking of? I'm not thinking of any incidents in the last two years ----- am I blanking something out?

Possibly, more likely you are of the ilk that we can talk our way out of the crisis.

[mundame]

Possibly, more likely you are of the ilk that we can talk our way out of the crisis.


What crisis are you referring to? I'm not seeing any terrorist activity or crisis, except the general demoralization of the nation for all the reasons we have discussed here. But terrorism?