Posted on 04/29/2009 5:53:40 AM PDT by pleikumud
I believe the GDP numbers are calculated as an annualized rate of decline, meaning two more quarters of 6% decline would represent 6% of the 10% decline that would define a depression.
Yet, the Dow is up 90. Amazing.
We’re not at 10% yet. Those 6.3% and 6.1% drops are “annual rate” drops, not cumulative from the previous quarter.
A CBS Marketwatch article today has the math: “With a 0.5% drop in the third quarter of 2008, it’s the first time the economy has contracted for three consecutive quarters since 1975. In the past four quarters, the economy has fallen 2.6%, the biggest year-over-year decline since 1982.”
With enough consecutive negative-GDP months we would get to a cumulative 10% drop.
It’s called the Stock Plunge Protection Plan. Used to prop up the market when bad news hits.
By the way I noticed that the DOW is up. It now appears that the DOW and Wall Street are totally detached from the fundamentals of the economy.
Rumor has it that newly married fags in IA, NH, ME, etc., are 'riding' them as I type.
It's all being filmed too as Holloweird has run out of new exciting material to release this summer movie season.
Meanwhile, Specter and friends are repackaging the goobermint loans to dump on foreign banks / countries called Creative Refi Sh$t to replace the still unregulated over the counter CDS's.
I assume because people are taking this news as a sign that we’ve hit the bottom ...
Wishful thinking?
Wall Street is now a parallel universe that operates independently form the fundamentals of the economy. It is run by a bunch of limousine liberals who are creating fake market rallies and doing their best to make Obama socialism look good when in reality this socialism is destroying the economy.
*snicker*
Breaking....New 0-Skittle unicorn hideaway ranch -— just found out to be located on Humpback Hill —— sheep are leaving.
Sore subject since Bush is generally being held responsible for this. Maybe leave him out of it. But I am getting very mad that no-one is holding democrats responsible for their stimulus plan promises, all those new jobs, based on 700B Spector voted for. Obama is loved and no one expects anything from him. They dont even know cap-and -trade is cap and tax.
It’s hardly original to say it but had a Republican - any Republican - gained office the MSM would be in Watergate-on-steroids mode demanding that the new guy solve any and all economic problems IMMEDIATELY.
The MSM are so intent on avoiding sins of commission that they have committed an even larger sin of omission by failing to correlate the silly ‘100 days’ figure with a total lack of achievement in all things economic.
That's the same bunch who runs with CEO's & CFO's of cooked booked corporations with both parties skimming the cream from the top of trusting investors.
Volume seems a little light at this time for the DOW...suckers run up this morning and then a dive after lunch?
Glimmers of hope.
Expected by WHOM? Economic IDIOTS? Any Numbskull with half a brain could have expected this.
Too busy getting crack cocaine sentences reduced....Obie-the-one is....
Actually, they used to be called "panics", as in the "Panic of 1873". "Depression" was the euphemism used after the 1907 panic. After the 1930s the term depression needed a better euphemism, and so "recession" was born.
In the 1970s the term "rolling readjustment" was tried as a further euphemism for recession, but that one never took hold.
How can this be? The Administration is saying signs of economic recovery are getting better. (sarcasm) MSM are a bunch of frauds for not telling the truth about the Chicago thug. Wonder if he has more blackmail files then the Clintons thanks to Soros?
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