Posted on 09/20/2008 9:38:26 AM PDT by K-oneTexas
I wouldn’t doubt that Barack Obama is behind this somewhere. Look at his shady friends.
Watch this video...the Barack Friend List:
http://www.youtube.com/watch?v=s-a7mV6EO-8
>This is a complex issue, let’s not simplify it with partisan politics.<
That’s a polite way of saying that you agree to accept some, just your share of the responsibility. I’d like to shake your hand. Not too many people are willing to look in the mirror these days!
Ping to #58
Reread the last two sentences of #58.
Lou Dobbs was never more correct than when he said this.
The Democratic and Republican Parties have become merely opposite wings of the same bird, and it’s the American people who are getting the bird as our elected officials serve their corporate masters and the special interest groups that dominate both parties.
There are some similarities and some differences.
1. The key is that as the names recession/depression imply GDP fell from 1930 to 1933. While of course we have not had GDP falling during this period yet.
2. A smilarity is that there have been financial/housing price instability in both periods. But of course in this period the government has stepped in to avoid a financial panic.
3. Another similarity is that there are real shocks in each period. The 1930s saw the dust bowl. Now we are dealing with oil price shocks, but unlike the dust bowl that seems to be at least partially reversing itself.
Here are the real and nominal percentage GDP changes in the 1930s:
Year Real GDP Nominal GDP
1930 -12.0 -8.6
1931 -16.1 -6.4
1932 -23.2 -13.0
1933 -4.0 -1.3
notice they are all negative including a 23% drop in 1932. Here are the same number for the last our years:
Year Real GDP Nominal GDP
2004 6.6 3.6
2005 6.3 2.9
2006 6.1 2.8
2007 4.8 2.0
notice they aer all positive. The implications of these numbers are if you had $50,000 income in 1929 and 2003, you would have had $27,217 in income in 1933 verses $62,299 in 2007. These are GDP growth rates not income growth rates but you can only consumed what is produced.
In this same area of the central plains the current conditions are as dry if not drier than the '30s. What has changed is farming technique's and crop varieties. This has lessened the droughts effects somewhat this time.
No problem. With the Democrat No Domestic Energy Policy we are virtually assured of having a world war that will make WWII look like a pillow fight.
Right and in 80 years another oil price spike may not affect the economy nearly as much. In fact, because of energy efficiency the recent oil price spikes have not hurt the economy as much as the original 1974 oil price spike. Similarly as you say farming technique improvements have caused droughts not to lead to dust bowls.
My point was, in classical economic terms and historical economic terms we are not in a recession or a depression right now. We are experiencing a financial downturn with these latest ‘bailouts’ however I don’t believe it foretells an economic downturn. There is more to the economy than these three companies.
I do believe you are right.
One of my fears is that with a Dem in charge and their lets give in attitude ... the next Word War will be fought on American soil.
um...we’re pumping money into circulation...FDR pulled money out of circulation.
Where would be the repeat ?
As I tried to say ... this is not the Great Depression no matter how much some would want us to believe that.
Exactly - times were tough. My favorite scene from Grapes of Wrath movie is when they arrive at the camp. A little girl comes up to use the water spigot, and runs off leaving it running.
It was supposed to show the bounty & plenty the government could provide, but to me it just showed the wastefulness of those who get something for nothing.
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