[Obama's economy] US GDP shrinks in Q4 2012, despite $165 B Fed stimulus

Is he doing a good job in terms of GDP?

 

I suggest you find another country that you like better.

 

I don't know, is he doing a good job with respect to controlling the weather? I mean I can articulate for you furhter on this, but given that you tend to be averse to rationality, what would the point be?

 

it's that sucky economy Obama inherited.

 

The unemployment rate tells the tale - stasis. I don't think it is anything to do withh hurricanes or political debates, but is a result of a maxed-out-recovery effort. Residential development would be the biggest lagard since the recession and net exports the biggest gainer. I could argue that there is not enough stimulus; but honestly speaking, this is a balance sheet recession.

 

BAHAHAHAHAHAHAHA!

You're killing me with your comedy routine, bigtexxx. Bravo!

 

stimulus was supposed to be temporary measure to jump start economic growth, now we have to borrow in perpetuity to prop up GDP

Spoiler

save us Zombie Calvin Coolidge

 

The budget deficit is decreasing, actually faster than GDP, that's what happens when you decrease government spending.

Why is this surprising to you? Same question to you as to okierock - since time immemorial, you idiots have agitated for spending cuts to solve the imaginary budget crisis - now you get them, and you are upset that they do exactly the thing that people told you they would do?

 

Its not good or bad, it was expected.

This is the equivalent of tearing up a sidewalk to build a highway and then complaining about how our sidewalks are in ruin halfway through the process. Sure, the sidewalk is in ruin, that is a "FACT", as you put it, but the conclusions you drew from the "FACTS" just don't make sense.

Thanks for the heads up, but sounding educated on the internet is not really all that important to me. Spelling is an admitted weakness for me, mostly due to laziness.

 

GDP=C+I+G+NX. So you're saying a decrease in G will have a negative impact on GDP? Absolutely mind-blowing...

Fed "stimulus" not effective? You mean continuing to capitalize banks after they've already been stabilized will no effect on the economy aside from pinning interest rates to near-zero? Again, absolutely mind-blowing...

 

No, the version that the modern GOP has invented works differently - it's something on the order of GDP = C + I + (-1*G) +NX.

It's why guys like Commodorebassokierock get their panties in a twist when down is down instead of being up.

 

Are you saying the $314 billion deficit in Q4 wasn't high enough?

I'm fully aware borrowing inflates GDP. Problem is relying on it in perpetuity.

Like a company that keeps taking out loans to give the illusion of profitability. Eventually they can't refinance and collapse.

We just keep refinancing our debt.

http://blogs.reuters.com/muniland/2013/01/25/the-big-cliff-that-nate-silver-didnt-see/

 

Do you seriously want to use facts and debate the deficit?
We all know debts is bad. Show me a list of your spending cuts.

 

Rolling over government debt is routine, and done the world over.

When that government debt is American treasury debt, it becomes even more compelling.

With that said, I agree with you on one point you perhaps don't understand---the private/public debt equation. Americans as a whole are refinancing perpetually. Conservatives have a fetish for government debt for some strange reason, and don't look at the other side of the equation---ruinous private debt. Private agents can't refinance. And it's high time the American economy started creating oppurtunities and safety for the middle class rather than disguising the vestiges of the American Dream in ever-expanded credit cycles that enrich those who are already prosperous, and help to hide the fact that government policies stemming from the Reagen era have led to stagnant or declining middle/working class wages.

It starts with healthcare reform. Ruinous healthcare costs are a sky-high percentage of private bankruptices. If America truly wants to be morally and fiscally sustainable, in the long run, a single-payer system will be needed.

 

Private debt holders have recourse through bankruptcy. Americans have a propensity to consume; the trade deficit is a byproduct of this consumption and it is fueled by debt and foreign cash flow. Are you laying the blame of trade deficits on the Reagan era, really?

EDIT: With respect to GDP, these credit cycles are what have propelled GDP to its current level. Paying down debt (private and public) would take such a monstrous effort that it would ruin the country financial and spiritually.

 

It's a double-edged sword.

 

He'll fit it in while they're reloading the skeet shooter.

 

pull!

Spoiler

 

Will you stop....stop....trying to use reason and common sense with this guy? He's immune.

Just remember:

President George W. Bush, great. Should be carved into Mount Rushmore, except there's no room now.

President Medgar Evers, very bad. And everything---EVERYthing---is his fault. That rim-bending pothole on Richmond between Chimney Rock and Sage? President Evers' fault. Damn Acorn for electing him!

I'd be less incendiary with these things, but I left the radio on AM 740 while jumping between 610 and 790, just to get a flavor. I'm not exaggerating the sentiment against Obama, the cherry-picking of "facts".