Also read the response from Edward Lambert at link.
"Recession is when your neighbor loses his job, depression is when you lose your job, and recovery is when Carter loses his." - Ronald Reagan.
"Recession is when your neighbor loses his job, depression is when you lose your job, and recovery is when Obama loses his." - Me.
I thought all the charts were predicting the opposite. Anyone’s thoughts on this?
Just so long as we continue with QE-infinity, we will be fine.
Just so long as we pump $85B of fake money into the system every month, we will be fine.
If the day ever comes when we stop propping up the edifice, then the "recovery" will end.
Kind of stating the obvious, eh?
Charts like this can be found all over describing conditions during the Great Depression. Prosperity was just around the corner and New Deal supporters had the facts and charts to prove it!
... just as “real” as an aquarium sitting in your family room is a “real” tropical lake.
In 2008, federal deficit spending (excluding interest and other borrowing, just budgeted deficit spending) was under 4%. Today, it is 9% of the gross domestic product of the US. Does the GDP grow by 9% a year? No? Has it even grown by 5% a year?
Without that extra deficit spending, the US economy would have retracted year after year since Obama took office. And any economics professor who excludes deficit spending from the calculations of a ‘recovery’ is purposefully lying, covering up facts to prop up their claims.
It’s about as real as the president. A recovery manufactured through the printing of money is no recovery at all. It’s a temporary hold-over, that leaves you in a worse state afterwards. Just ask Zimbabwe.
That is probably more disheartening to those who want to destory America than it is to those of us who love it.
Also the financial crisis in Asia Duy used in this article, “The Fed eased into the crisis, mitigating its impact”, all that margin had been used up.
We had Schumer’s and Pelosi’s daily decry Bush's ‘Jobless Recovery’ to propel Dems control into Congress, except now the ‘recovery numbers’ under Obama were far worse than Bush's 8 years.
And the economics professor wants public to turn “Sunny & Happy Face” that “(quote) a US recession in the next three years should be pretty far down on your list of concerns (unquote)”.
The take home lesson from reading this article is that 'Don't trust you facts and gut feelings. Nothing to worry about, move along."
The Ministry of Propaganda has spoken.
Those look just like a guns and ammo boom!
When the economy DOESN'T need $85 billion a month to prop it up, then we might talk about a recovery. Just imagine if QE stopped today. What would be the result? Why would the economy collapse if we are on solid footing now? Why must we retain zero to low interest rates forever? What will happen when interest rates get to 4%?
If any of these questions get you to reality, then maybe you will see how absurd it is to say we are recovering.
A few more,.....How many people were working in 2008? How many now? Why did the last unemployment rate lower to 7.7%? Were part of the new employees due to ObamaCare causing people to work less than 30 hours a week? Does a rising stock market mean the economy is getting better, or that business is making more doing less? Can you claim recovery with 43 million on food stamps?
The data has shown that a recovery has been truly ongoing since early 2012. Most people here don’t want to see it because they think Obama will get the credit. Facts are that the recovery, such that it is, is extremely weak by historical standards and that is because of Obama’s policies. They are restricting the growth we would otherwise be seeing. 1-2% GDP is a recovery but it’s a poor one. I’ve posted the industrial production chart a number of times along with the facts on housing. That we are at 917K housing starts (SAAR for February) when 2009-2011 were around 600K is a heck of an improvement. Home inventories are way down even compared to historical levels. We are not out of the woods and any sort of external shock could tip us over the edge. But it is undeniable if you look at the data that the economy is in recovery.
It’s only here until the government runs out of money. Then the whole house of cards comes down.
So is Santa Claus and the Easter Bunny.
This is laughable. Things are stagnant at best. We have record numbers of umemployment, people on food stamps, and 8.5 million less people working than we did before Obama took office.
In order to generate phony economic growth and to “pay” our country’s debts in the most dishonest manner possible, the Federal Reserve is 100% committed to the destruction of the dollar. Anyone with wealth in the U.S. dollar should be concerned that economic leadership is firmly in the hands of irresponsible bureaucrats who are committed to an ivory tower version of reality that bears no resemblance to the world as it really is.