Obama Recession

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Obama Recession

Post  Outerlimits on Thu May 29, 2014 12:14 pm

The revised GDP estimate for the first quarter and the contraction was more than expected (1% vs. 0.6%). The new GDP forecast for the year is now a paltry 1 percent. While a harsh winter is to blame for some of it, the underlying foundation of our economy is still very weak. A harsh winter should never cause GDP to go negative.

They knew another recession was coming so changed the way they calculate GDP last July because we all know what two consecutive quarters of contraction means.

Now we calculate GDP by counting things like future pensions (not paid) and film royalties (forecasted) and add them to GDP. Heck, even the value paintings hanging in the White House are added to the GDP.

Add it all up and we get a bump of 3%.

When the numbers get bad, find a new way to calculate "good numbers" and why not, they have done the same with inflation, unemployment, poverty.
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Re: Obama Recession

Post  News Buzzard on Thu May 29, 2014 12:58 pm

You need to get out more often.

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Re: Obama Recession

Post  WHL on Thu May 29, 2014 5:13 pm

What, NB?  When you don't have an answer tell him he has to get out more often?  You need to take off those rose colored glasses.
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Bad news for Millennials...

Post  News Hawk on Thu May 29, 2014 8:53 pm


" It is said that the problem with the younger generation — any younger generation — is that it has not read the minutes of the last meeting. Barack Obama, forever young, has convenient memory loss: It serves his ideology. His amnesia concerning the policies that produced the robust recovery from the more severe (measured by its 10.8 percent unemployment rate) recession of 1981-82 has produced policies that have resulted in 0.1 percent economic growth in 2014’s first quarter — the 56th, 57th and 58th months of the recovery from the recession that began in December 2007.

June begins the sixth year of the anemic recovery from the 18-month recession. Even if what Obama’s administration calls “historically severe” weather — a.k.a., winter — reduced GDP growth by up to 1.4 percentage points, growth of 1.5 percent would still be grotesque."
http://www.washingtonpost.com/opinions/george-f-will-the-obama-economy-offers-bad-news-for-millennials/2014/05/28/e5cd8fd6-e5d9-11e3-8f90-73e071f3d637_story.html

 No 


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Re: Obama Recession

Post  WHL on Fri May 30, 2014 7:40 am

I deleted you post, NB.   Remember the part about outing people?
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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 8:16 am

WHL wrote:I deleted you post, NB.   Remember the part about outing people?

Why didn't you just delete the line you considered to be offensive? (And it's your post, not you post)

From The Wolfeboro Town Report, page 119: "In 2013 we have seen a marked increase in building activity; 20% in commercial building permits and 30% in single family dwellings. Although the total number of permits (of every type) is consistent with 2012, the annual construction costs have nearly doubled for 2013. This number is indicative of larger and/or more expensive projects, signaling a recovery in the local economy related to construction trades."

Those are facts which are printed on page 119 of the Wolfeboro Town Report.

You can't delete the facts !

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Re: Obama Recession

Post  WHL on Fri May 30, 2014 8:50 am

That's good that building is up 20 and 30%.   Commercial includes the workforce housing which is paid for by taxpayers?  Single family is up 30%?  Up from how many units to how many units?  Less than 10 I would bet.
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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 8:51 am

It should also be interesting to note here on this Forum Of Gloom that the Unites States has a $17 trillion economy:

http://research.stlouisfed.org/fred2/series/GDP

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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 8:55 am

WHL wrote:That's good that building is up 20 and 30%.   Commercial includes the workforce housing which is paid for by taxpayers?  Single family is up 30%?  Up from how many units to how many units?  Less than 10 I would bet.

I would think the permit for the workforce housing was pulled before 2013, which makes the 2013 numbers look better, and from the report: The annual construction costs have nearly doubled for 2013. Are you telling me that's not good enough to show that things are picking up?

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More Gloomy News...

Post  News Hawk on Fri May 30, 2014 9:07 am

News Buzzard wrote:It should also be interesting to note here on this Forum Of Gloom that the Unites States has a $17 trillion economy:http://research.stlouisfed.org/fred2/series/GDP
o

Europe has passed the US, and China rolls out a terrific number manufactured goods.

Future Inflation will show us as being Billionaires

 No


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Re: Obama Recession

Post  Outerlimits on Fri May 30, 2014 9:19 am

News Buzzard wrote:...From The Wolfeboro Town Report, page 119: "In 2013 we have seen a marked increase in building activity; 20% in commercial building permits and 30% in single family dwellings. Although the total number of permits (of every type) is consistent with 2012, the annual construction costs have nearly doubled for 2013. This number is indicative of larger and/or more expensive projects, signaling a recovery in the local economy related to construction trades."

Those are facts which are printed on page 119 of the Wolfeboro Town Report.

You can't delete the facts !

Those are misleading facts NB.

To be clear…the GDP is the standard measure for economic growth, not the number of building permits pulled in Wolfeboro.

Sure there are areas in this country that are doing well, but we are talking nationally.

Obama's GDP has risen less than the QE money creation from his Trickle Down policies of those he puts in power at that Fed. We've had over five years of Obama's version of trickle down, e.g. Food Stamps, extension of unemployment compensation, massive deficits, and billions in crony capitalist "green jobs," and it's definitely not working.

Rest assured, Obama will be proposing some new job killing regulations or laws that will further stifle the economy, and his other policies will weaken the US dollar even more as the cost of living will continue to increase.
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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 9:24 am

The news can never be good here on The Forum Of Gloom. (Unless of course the Republicans get another chance to royally screw things up, like they did with W)

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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 9:27 am

And what have the Republicans done, other than crashing the economy, Outerlimits? They passed about 55 bills last year and may even do less this year. (if that's possible)  Sleep

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Re: Obama Recession

Post  Outerlimits on Fri May 30, 2014 10:30 am

News Buzzard wrote:And what have the Republicans done, other than crashing the economy, Outerlimits? They passed about 55 bills last year and may even do less this year. (if that's possible)  Sleep

LOL

Really,

First you argue that the economy is doing just fine because building permits in Wolfeboro are up. Now you are saying the “crashed” economy of 2014 is somehow the Republican’s fault?

Not that I want to support the Republicans in congress but they are the lesser of two evils.

Your side keeps saying it’s the Republicans in the House that are obstructing when anyone with half a brain knows the Democrat controlled Senate is the place where legislation goes to die. Henchman Reid won’t even bring a PASSED house bill to vote out of fear it will end up on Obama’s desk and he might look bad.

But why should I be surprised? The Democrats are the masters of influence over the half brained voters in this country. Keep repeating a lie long enough and the ignorant will believe it. And no, I don't think you are a half brianed voter NB.

War on this, war on that, the republicans hate children, the republicans hate old people. Democrats can’t argue the facts so they make stuff up to divide the country.

We are 5+ years into Obama’s reign, this economy is his. He owns it. Blaming Bush or the minority IS exactly why Obama and the Democrats have failed at every turn.

ZERO accountability for actions = poor performance.
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Re: Obama Recession

Post  WHL on Fri May 30, 2014 11:29 am

News Buzzard wrote:
WHL wrote:That's good that building is up 20 and 30%.   Commercial includes the workforce housing which is paid for by taxpayers?  Single family is up 30%?  Up from how many units to how many units?  Less than 10 I would bet.

I would think the permit for the workforce housing was pulled before 2013, which makes the 2013 numbers look better, and from the report: The annual construction costs have nearly doubled for 2013. Are you telling me that's not good enough to show that things are picking up?
The workforce housing has started a new phase now.  I don't know when the permit was pulled but it doesn't seem like it would be 2013.  Of course it wouldn't matter to the local builders anyway, they hire somebody from out of town to build it.  It will help the out of town people.  Again, how many permits were pulled??  Not in percentage but in number of permits.  And then compare  it to a good year-pre-Obama-2009.
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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 11:33 am

Outerlimits wrote:Your side keeps saying it’s the Republicans in the House that are obstructing when anyone with half a brain knows the Democrat controlled Senate is the place where legislation goes to die.

How stupid do you think people are? You think no one will notice the 500+ filibusters the Republicans have scorched the country with? Your line of BS is not going to work, especially in 2016.

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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 11:35 am

WHL wrote:Again, how many permits were pulled??  Not in percentage but in number of permits.  And then compare  it to a good year-pre-Obama-2009.

That's nothing but more BS. The Great Recession belongs to Bush and the Republicans.

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Re: Obama Recession

Post  Outerlimits on Fri May 30, 2014 12:44 pm

News Buzzard wrote: How stupid do you think people are? You think no one will notice the 500+ filibusters the Republicans have scorched the country with? Your line of BS is not going to work, especially in 2016.

Filibusters?

Really??? You are trying to say the economy stinks because of Republican filibusters?


5 ½ years of Democrat control and you are still blaming Bush and the Republicans for the economic mess we are in?

This is Obama's Recession, he is the President, He is the CEO, he owns it and the left’s finger-pointing and blaming others for his utter failure just makes them look even more pathetic.

Obama is one of the biggest mistakes this country has ever made. How this country allowed a man devoid of experience and accomplishment to become President is a national disgrace.
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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 12:55 pm

You really should do a little study of our recent history. The Democrats only had about 6 months of control between the swearing in of Al Franken and the swearing in of Scott Brown. Other than those few months the Republicans have been running roughshod over the country with obstructionism. The Republicans think they can win with homophobia, misogyny, racism and obstructionism, and it ain't gonna work. Just ask Mitt Romney.

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Re: Obama Recession

Post  WHL on Fri May 30, 2014 1:36 pm

The Republicans have passed plenty of bills in the House, but when they get to the Senate, the Senate which we all know is Dem controlled kills them.  WHO is the party of NO that you guys keep talking about???????
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Re: Obama Recession

Post  WHL on Fri May 30, 2014 1:55 pm

http://www.foxnews.com/us/2014/05/30/media-outlets-work-overtime-to-spin-bad-economic-data/

NB do you get your talking points from these news outlets?
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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 2:34 pm

WHL wrote:The Republicans have passed plenty of bills in the House, but when they get to the Senate, the Senate which we all know is Dem controlled kills them.  WHO is the party of NO that you guys keep talking about???????

I see that Outerlimits needs a lesson in real, not revisionist history, and you need a lesson in Senate procedures. The filibuster is a tool used by the minority party to force a bill to need 60 votes for passage. This group of Senate Republicans has used it over 500 times, a record amount, in order to obstruct legislation. Last year the Republican controlled House passed about 55 bills, a possible record for inactivity. The thing that's going to destroy whichever nit-wit the Republicans put up in 2016 is the complete inaction by the House on important measures like immigration, minimum wage, unemployment and veterans benefits, and the uncontrollable use of the filibuster by the Senate. Hillary wins by double-digits !  Very Happy

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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 2:39 pm

WHL wrote:http://www.foxnews.com/us/2014/05/30/media-outlets-work-overtime-to-spin-bad-economic-data/

NB do you get your talking points from these news outlets?

Read the story, WHL. At the end a former advisor to Mitt Romney said the weather was 99% responsible for the bad first quarter. Time will tell how things will work out for the rest of the year, but I like what all of the economists are saying.

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Re: Obama Recession

Post  WHL on Fri May 30, 2014 5:44 pm

News Buzzard wrote:
WHL wrote:http://www.foxnews.com/us/2014/05/30/media-outlets-work-overtime-to-spin-bad-economic-data/

NB do you get your talking points from these news outlets?

Read the story, WHL. At the end a former advisor to Mitt Romney said the weather was 99% responsible for the bad first quarter. Time will tell how things will work out for the rest of the year, but I like what all of the economists are saying.
See, you bought the spin!!!! lol!
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Re: Obama Recession

Post  News Buzzard on Fri May 30, 2014 6:28 pm

FOX News doesn't deal with spin. Everything they report is a flat out lie, and probably the reason their viewership is down over 20%. How many different ways can they regurgitate the same Benghazi non-scandal?

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