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if you didn't think bush was an idiot before...

Discussion in 'Members' Lounge' started by Briansol, Mar 7, 2008.

  1. Briansol

    Briansol Admins Admin VIP

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  2. jp_p5

    jp_p5 MicWhop

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    It is only going to get worse before it gets better.
     
  3. DarkHand

    DarkHand Senior Member VIP

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    Reminds me of Baghdad Bob... There are no American tanks in Iraq, either.

    Now I want to do a photoshop of the two of them together. :D
     
  4. 93civicracer

    93civicracer Oh, I do a little here and there.

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    I think we're gonna have another great depression. That's what everyone thinks. I mean hell minimum wage here in Texas is still $5.80 a fuckin hour and that barely went up from $5.30 that was a year ago.
     
  5. Celerity

    Celerity Well-Known Member

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    We're not in a recession. There is lots of talk about recession, but people who are saying "OH MY GOD THE SKY IS FALLING" are not only ill-qualified to say this, but also financial hypochrondriacs.

    We are potentially facing recession. Bush said something about Gas reaching 4$ a gallon, which was pretty wrong.
     
  6. Celerity

    Celerity Well-Known Member

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    Also, are you refusing to associate this with the democratic congress ?


    A little over a year ago:
    1) Consumer confidence stood at a 2 1/2 year high.
    2) Regular gasoline sold for $2.19 a gallon; [high, but not as high as the $3.29/gal regular I paid today]
    3) the unemployment rate was 4.5%.

    Since voting in a Democratic Congress in 2006 we're seen: 1) Consumer confidence drop;
    2) the cost of regular gasoline over $3 a gallon;
    3) Unemployment has increased is up to 5% (a 10% increase);
    4) American households have seen $2.3 trillion in equity value evaporate (stock and mutual fund losses);
    5) Americans have seen their home equity drop by $1.2 trillion dollars;
    6)1% of American homes are in foreclosure.
     
  7. Celerity

    Celerity Well-Known Member

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    Good ! Because you finally hit the nail on the head !

    Bush isn't a bad president. Reagan was the best in modern times, but Bush isn't the worst. Clinton is the worst.
     
  8. totalburnout

    totalburnout Well-Known Member VIP

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    ...the US isn't in a recession by definition.

    A recession is two consequtive quarters with a decline in GDP.

    We still had growth in the firth quarter, despite the fact that it was .6%
     
  9. totalburnout

    totalburnout Well-Known Member VIP

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    I should quote what I said in big, bold, letters since most of you failed or did not take a basic economic class.

    By definition we are not in a recession. The definition of a recession is measured by lagging measures, unlike leading measures, these are not predictive measures. You have to look at the previous two quarters to determine if you're truly in a recession.

    The United States = not in recession. Moronic journalist or economists, that have changed the textbook definition of recession believe we're in a recession.

    Thats your economics lesson for the day. You don't have to thank me for the freebie, considering most of you won't anyway. :)
     
  10. Celerity

    Celerity Well-Known Member

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  11. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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  12. DarkHand

    DarkHand Senior Member VIP

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    Buffett: US Essentially in Recession: Financial News - Yahoo! Finance


    I hear that he's pretty good with money. :ph34r:
     
  13. Koop

    Koop •°o.O KOOP™

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    is this kid ever wrong?
     
  14. totalburnout

    totalburnout Well-Known Member VIP

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    Guess you didn't look at the latest financials of Birkshire Hathoway. Buffett is already preparing a succession plan and talking about stepping down after they lost BILLIONS this quarter.

    We have many symptoms of a recession, but once again we ARE NOT AND CANNOT BE IN AN ONGOING RECESSION SINCE WE HAD GDP GROWTH IN THE LAST TWO QUARTERS. This may be the first quarter we see negative GDP growth, but that certainly does not fit with the classical definition of recession.

    Essentially, we have clowns that are attempting to modify the definition of "recession" to include many other economic symptoms and conditions.

    I don't care if he is the wealthiest investor in the world, last quarter there was growth in GDP, therefore we can not possibly be in two consecutive quarters of negative GDP growth [a recession].
     
  15. totalburnout

    totalburnout Well-Known Member VIP

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    You would be the last person from who I would expect to hear that comment.

    You are welcome.
     
  16. Briansol

    Briansol Admins Admin VIP

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    the market is crap
    prices are skyrocketing on everything
    the dollar is worthless because of the fed

    U.S. Markets News Archive - Yahoo! Finance
    90% of the topics are about the economy being in the shitter.

    we're in a recession.
     
  17. klyph

    klyph Dismember VIP

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    I make way more money than I did last year, but the inflated prices of goods and services means that all that extra money gets spent on the same everyday bills.

    Maybe if the Fed just prints more money and gives it away that will solve our problem :roll:
     
  18. jamesA

    jamesA Well known pissed off telephone guy VIP

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    Its funny. Blue collar workers keep losing their jobs due to recessions, yet the government keeps dumping money into the hundreds of departments they have in the government. No one there ever gets laid off.

    I'm running for office in 2012. I'll never get laid off.
     
  19. totalburnout

    totalburnout Well-Known Member VIP

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    Does it feel better to be ignorant after I clearly just outlined the definition of a recession, twice?

    Everything you listed is a symptom that is prevalent during a recession, but can also be prevalent proceeding a recession.

    I can jerk off on yahoo finance. I'm well aware of the articles that the Journal runs on a daily basis, but that does not mean that their bastardized definition is correct.

    We certainly are on a collision course for a recession but WE ARE NOT IN A RECESSION.
     
  20. totalburnout

    totalburnout Well-Known Member VIP

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    If it weren't for the government creating 80,000 jobs last month, we would have lost far more jobs than the 20,000 we did lose.

    Honestly, people should get their shit straight before they make generalized comments that are untrue.

    Also the unemployment rate is actually declining, although the rest two reports of newly created jobs have stated that we are actually losing jobs. They are two different measures.

    Newly created jobs =! unemployment rate.
     
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