To: Signalman
Yes, U.S. GDP is still rising, according to the latest reports. But that doesn't mean we've dodged a new recession. That is because the economy isn't growing on its own, but by borrowing foreign money to pay for unemployment benefits and make work jobs. Obama has managed to improve the numbers through borrowing, but the fact he's still borrowing shows he hasn't fixed the problems.
6 posted on
05/12/2012 1:32:05 PM PDT by
TwelveOfTwenty
(With choices like Palin, Cain, and Bachmann, what could go wrong? Now we know.)
To: TwelveOfTwenty
That is because the economy isn't growing on its own, but by borrowing foreign money to pay for unemployment benefits and make work jobs. The foreigners don't even want our debt anymore. China's decided to buy gold, instead. Last year, 61% of the debt was purchased by the Fed using newly-printed money.
8 posted on
05/12/2012 2:56:28 PM PDT by
BfloGuy
(The final outcome of the credit expansion is general impoverishment.)
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