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(Christian Science Monitor)   US GDP expands at a rate of 1.7%, vs an an initial estimate of 1.5%, for the previous quarter. This is bad news for ... Obama???   (csmonitor.com) divider line 38
    More: Interesting, gross domestic product, obama, initial estimate, forecasts, Capital Economics  
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693 clicks; posted to Business » on 29 Aug 2012 at 6:07 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-29 04:43:57 PM
Obviously. It's not fast enough. Despite record highs on Wall Street, that just apparently doesn't translate to GDP. If only there was some way to keep that cash from going overseas...
 
2012-08-29 04:47:09 PM
It's almost as if infinite continued growth isn't possible.
 
vpb [TotalFark]
2012-08-29 04:50:42 PM
Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

farm6.static.flickr.com
 
2012-08-29 04:51:54 PM
If it wasn't for the fact that I and many hundreds of thousands more Americans would lose everything and be bankrupt, I almost want to see Mitt Romney get elected, with majorities in both houses so he can pass his stupid ideas and the United States could crumble under his unfettered "leadership."

It just isn't worth it even though it could mean no Republican rule again for a very long time.

They would still find a way to blame it on Obama anyway.
 
2012-08-29 05:13:08 PM

AdolfOliverPanties: If it wasn't for the fact that I and many hundreds of thousands more Americans would lose everything and be bankrupt, I almost want to see Mitt Romney get elected, with majorities in both houses so he can pass his stupid ideas and the United States could crumble under his unfettered "leadership."

It just isn't worth it even though it could mean no Republican rule again for a very long time.


We tried that in 2004. The first part worked, and the country crumbled, but fark if the Republicans aren't still around.
 
2012-08-29 06:11:22 PM

vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]


Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?
 
2012-08-29 06:13:44 PM

xaveth: vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]

Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?


i158.photobucket.com
 
2012-08-29 06:15:49 PM
All my other submitted stories, with better headlines, get nixed - but this one gets approved?

Note to self:

1) More spelling mistakes

2) More political references apart form the politics tabs
 
2012-08-29 06:28:28 PM

hubiestubert: Obviously. It's not fast enough.


This is it... If he doesn't fix something, it's because he's incompetent. If a policy fials, it's a talking point for the next 3 years. If he DOES have successes, they are either not fast enough, not big enough, or completely ignored.

It's fine if someone doesn't like the Pres. Hell, I have scraped stuff off of my shoe that I respected more than Bush. It's quite another when thee guys ignore stuff, make it up completely out of nowhere, or claim that despite all of the extenuating circumstances, it's just not speedy enough. All while ignoring who caused the problem in the first place.
 
2012-08-29 06:40:50 PM

xaveth: vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]

Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?


So Debt-to-GDP is crap. That has had what kind of impact on the average American, exactly?
 
2012-08-29 06:56:03 PM
AdolfOliverPanties: If it wasn't for the fact that I and many hundreds of thousands more Americans would lose everything and be bankrupt, I almost want to see Mitt Romney get elected, with majorities in both houses so he can pass his stupid ideas and the United States could crumble under his unfettered "leadership."

It just isn't worth it even though it could mean no Republican rule again for a very long time.

They would still find a way to blame it on Obama anyway.


I'd rather we get this over with and lynch the bastards while I'm young, then have to deal with it while having a family, or thinking of my retirement years. A second great depression is coming. Sooner is better than later.
 
2012-08-29 07:04:12 PM

Blues_X: It's almost as if infinite continued growth isn't possible.


Communist.
 
2012-08-29 07:14:56 PM

AdolfOliverPanties: If it wasn't for the fact that I and many hundreds of thousands more Americans would lose everything and be bankrupt, I almost want to see Mitt Romney get elected, with majorities in both houses so he can pass his stupid ideas and the United States could crumble under his unfettered "leadership."

It just isn't worth it even though it could mean no Republican rule again for a very long time.

They would still find a way to blame it on Obama anyway.


That's exactly where I'm at, but I actually do want to see it happen to some shiatty state. Let Kansas or Mississippi elect an entire legislature full of Tea Party people, and top it off with the derpiest governor anyone has ever derped. Then just watch the awesomeness for 10 years or so. It'd only take 3 months for the fun to start, but 10 years would be a good amount of time for them to completely devolve to 3rd-world status.
 
2012-08-29 07:16:59 PM

The Z Spot: All my other submitted stories, with better headlines, get nixed - but this one gets approved?

Note to self:

1) More spelling mistakes

2) More political references apart form the politics tabs


Typos seem to get the light often.
 
2012-08-29 07:42:21 PM
img43.imageshack.us
"And Leon's getting laaarger!"
 
2012-08-29 07:55:19 PM
Failure, it's the new success.
 
2012-08-29 08:18:40 PM

Mad_Radhu: xaveth: vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]

Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?

[i158.photobucket.com image 500x576]


The funny thing is you have to put stimulus and stimulus tax cuts, which were a direct response to the economic disaster laid by Bush, on Bush. That's another 1.13 Trillion that is technically bush's sh*t. Obama's basically done nothing to hurt the deficit, if anything he's probably helped the debt overall by passing ACA.
 
2012-08-29 08:42:37 PM
Narrative! Narrative! Narrative!
 
2012-08-29 09:05:03 PM

AdolfOliverPanties: If it wasn't for the fact that I and many hundreds of thousands more Americans would lose everything and be bankrupt, I almost want to see Mitt Romney get elected, with majorities in both houses so he can pass his stupid ideas and the United States could crumble under his unfettered "leadership."

It just isn't worth it even though it could mean no Republican rule again for a very long time.

They would still find a way to blame it on Obama anyway.


Just like every one still blames bush for Obama's issues.

Its a tired adage, blame your opponent even if he's not around any longer, all of you are like broken records now. I also love how they cherry picked the years in the gdp graph, always a way to make someone look worse than it really was.
 
2012-08-29 09:08:01 PM

bdub77: Mad_Radhu: xaveth: vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]

Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?

[i158.photobucket.com image 500x576]

The funny thing is you have to put stimulus and stimulus tax cuts, which were a direct response to the economic disaster laid by Bush, on Bush. That's another 1.13 Trillion that is technically bush's sh*t. Obama's basically done nothing to hurt the deficit, if anything he's probably helped the debt overall by passing ACA.


The economic disaster is not on bush but keep on blaming someone who had virtually nothing to do with it if it makes you feel better. Just know you are uninformed with your head up your chosen parties ass.
 
2012-08-29 09:14:46 PM

steamingpile: bdub77: Mad_Radhu: xaveth: vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]

Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?

[i158.photobucket.com image 500x576]

The funny thing is you have to put stimulus and stimulus tax cuts, which were a direct response to the economic disaster laid by Bush, on Bush. That's another 1.13 Trillion that is technically bush's sh*t. Obama's basically done nothing to hurt the deficit, if anything he's probably helped the debt overall by passing ACA.

The economic disaster is not on bush but keep on blaming someone who had virtually nothing to do with it if it makes you feel better. Just know you are uninformed with your head up your chosen parties ass.


Why? Just because? The facts seem to indicate otherwise.
Things are not true just because you say so.
 
2012-08-29 09:16:32 PM

jso2897: Why? Just because? The facts seem to indicate otherwise.
Things are not true just because you say so.



www.sadanduseless.com
 
2012-08-29 09:33:30 PM

rumpelstiltskin: AdolfOliverPanties: If it wasn't for the fact that I and many hundreds of thousands more Americans would lose everything and be bankrupt, I almost want to see Mitt Romney get elected, with majorities in both houses so he can pass his stupid ideas and the United States could crumble under his unfettered "leadership."

It just isn't worth it even though it could mean no Republican rule again for a very long time.


We tried that in 2004. The first part worked, and the country crumbled, but fark if the Republicans aren't still around.


The country didn't crumble then.

If Romney and his cronies had their way there would be mass starvation, homelessness, and riots as welfare was scrapped completely.
 
2012-08-29 09:46:52 PM

kg2095: rumpelstiltskin: AdolfOliverPanties: If it wasn't for the fact that I and many hundreds of thousands more Americans would lose everything and be bankrupt, I almost want to see Mitt Romney get elected, with majorities in both houses so he can pass his stupid ideas and the United States could crumble under his unfettered "leadership."

It just isn't worth it even though it could mean no Republican rule again for a very long time.


We tried that in 2004. The first part worked, and the country crumbled, but fark if the Republicans aren't still around.

The country didn't crumble then.

If Romney and his cronies had their way there would be mass starvation, homelessness, and riots as welfare was scrapped completely.


Don't forget polluted water and dirty air. WIth Ryan on the ticket there's pushing grandma off of cliffs too
 
2012-08-30 02:27:40 AM

kg2095: rumpelstiltskin: AdolfOliverPanties: If it wasn't for the fact that I and many hundreds of thousands more Americans would lose everything and be bankrupt, I almost want to see Mitt Romney get elected, with majorities in both houses so he can pass his stupid ideas and the United States could crumble under his unfettered "leadership."

It just isn't worth it even though it could mean no Republican rule again for a very long time.


We tried that in 2004. The first part worked, and the country crumbled, but fark if the Republicans aren't still around.

The country didn't crumble then.

If Romney and his cronies had their way there would be mass starvation, homelessness, and riots as welfare was scrapped completely.


I was listening to a economist and he said that if Romney and Ryan are able to get their budget passed, it won't lead to prosperity or depression, it would lead straight to anarchy.
 
2012-08-30 03:45:11 AM

The Z Spot: All my other submitted stories, with better headlines, get nixed - but this one gets approved?

Note to self:

1) More spelling mistakes

2) More political references apart form the politics tabs


www.brainlesstales.com
 
2012-08-30 04:01:11 AM
We have multiple global systemic problems with our international banking system that are being addressed. They are the cancer that manifest as the symptoms we see. Unless these problems are addressed, inevitably down is the only way forward.

Say you have an old car with a iron oil pan. Say that pan springs a leak and the iron begins to rust, enlarging the hole. You have to put more oil in frequently to keep the car running. If you do not keep up with the pace, the engine will throw a rod, seize, and destroy the car.

Now the car is the global economy, oil is money (specifically interest payment on debt), and the rusting hole is our banking system.

alsolikelife.com
Click Me 
 
2012-08-30 07:54:56 AM
Skipping the whole "its so and so's fault" part, the issue with 1.7% GDP growth is what that would look like without massive amounts of deficit spending.

We are expected to borrow $1.1 trillion this year to prop up the budget. The US GDP is $15 trillion.

We need to chop the deficit down by at least 80%, back to where it used to be. That's going to drop us into a recession, no matter how you do it. Raise taxes and there is less private spending, cut spending and there is less government spending. Either way, we go back into a recession.
 
2012-08-30 08:36:21 AM
Nobody mentioned that severely reduced deficits would mean that $1 trillion or so a year would be incested in something other than non productive governmentbonds. Anybody who skipped econ 101 can google crowding out.
 
2012-08-30 08:41:03 AM

steamingpile: I also love how they cherry picked the years in the gdp graph, always a way to make someone look worse than it really was.


Show us your own graph, with whatever years you want.
 
2012-08-30 09:53:54 AM
GDP is a useless measure of the economy. What did PPR do?
 
2012-08-30 02:47:52 PM

DrPainMD: GDP is a useless measure of the economy. What did PPR do?


Well, in most PPR leagues guys like Wes Welker and Victor Cruz really shine, but I especially like a good receiving RB to snag some extra points, Darren Sproles or Roy Helu would be a good example.

/On the tpoic of the economy I am curious about the Purchasing Power Parity ranking of the US after this whole mess.
//GDP is funny. It is a pretty worthless measure of the economy from most people's perspectives. I mean, it is a weird thing, every transaction counts towards it. Buy a car? Counts towards GDP. Salesman takes his commission and buys some golf clubs? Counts towards GDP. Cashier at Dick's takes his paycheck and blows it at the track? Counts towards the GDP. Of course, the only people who really care about that are governments because each and every transaction is another opportunity to tax people. So basically more GDP = more potential for tax revenue = richer government
/of course I'm talking out of my ass
 
2012-08-31 02:27:54 PM

Mad_Radhu: xaveth: vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]

Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?

[i158.photobucket.com image 500x576]


If you trust an "infographic" that doesn't know the difference between debt and deficit, you might be a dumbass.
 
2012-08-31 02:29:47 PM

Mikey1969: hubiestubert: Obviously. It's not fast enough.

This is it... If he doesn't fix something, it's because he's incompetent. If a policy fials, it's a talking point for the next 3 years. If he DOES have successes, they are either not fast enough, not big enough, or completely ignored.

It's fine if someone doesn't like the Pres. Hell, I have scraped stuff off of my shoe that I respected more than Bush. It's quite another when thee guys ignore stuff, make it up completely out of nowhere, or claim that despite all of the extenuating circumstances, it's just not speedy enough. All while ignoring who caused the problem in the first place.


So if you took your car to the shop with a flat tire, and when you got it back the tire was patched but the engine caught fire when you turned it on, you'd be wrong to characterize that as an unsuccessful repair?
 
2012-08-31 02:31:15 PM

Arkanaut: xaveth: vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]

Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?

So Debt-to-GDP is crap. That has had what kind of impact on the average American, exactly?


Because people who actually know something about finance and economics look at ROI.

I'll give you $5 for $20, but that doesn't mean you "made" $5. You lost $15.
 
2012-08-31 02:40:22 PM

Bullseyed: So if you took your car to the shop with a flat tire, and when you got it back the tire was patched but the engine caught fire when you turned it on, you'd be wrong to characterize that as an unsuccessful repair?


Yep, because the shop would not have touched my engine to replace a tire, so it was an unrelated issue. They only needed to jack the car up, remove the lug nuts, patch the tire and put everything back. They wouldn't have even opened the hood to patch a tire.

Thanks for demonstrating the concept of "false equivalency" so well, though.
 
2012-08-31 02:49:09 PM

Bullseyed: Arkanaut: xaveth: vpb: Only 1.7%, it was 6.8% in the 4thQ of 2008. Negative 6.8, but that's just a technicality.

[farm6.static.flickr.com image 500x359]

Cool! Where's the one showing our Debt-to-GDP ratio. I'm sure it's full of awesome under Obama's Hope n Change administration. Right?

So Debt-to-GDP is crap. That has had what kind of impact on the average American, exactly?

Because people who actually know something about finance and economics look at ROI.

I'll give you $5 for $20, but that doesn't mean you "made" $5. You lost $15.


Once again I fail to see how that impacts the average American (plus it sounds more like you're responding as if I'm making some kind of argument about inflation*). But I'll humor you. Last year I bought US 10-year T-notes right after the S&P downgrade. Back then the yield was a little over 2%; now it's 1.6%. If I were to sell right now, I think that nets me about 3%, so for me, the debt situation is working out quite well. And if the Euro goes kablooey, that's even better.

*Unless you're actually talking about default? You must be smarter than every other investor out there, because virtually no one who actually has "skin in the game" believes this.
 
2012-08-31 06:26:35 PM

SomeAmerican: Skipping the whole "its so and so's fault" part, the issue with 1.7% GDP growth is what that would look like without massive amounts of deficit spending.

We are expected to borrow $1.1 trillion this year to prop up the budget. The US GDP is $15 trillion.

We need to chop the deficit down by at least 80%, back to where it used to be. That's going to drop us into a recession, no matter how you do it. Raise taxes and there is less private spending, cut spending and there is less government spending. Either way, we go back into a recession.


You do know that 1946 saw the best year-over-year improvement in Americans' standard of living, don't you? And that millions of government employees and contractors were laid off that year? Not that we aren't going to go back into a recession, but government spending doesn't help; it's only an illusion of prosperity. We're screwed no matter what we do. Slashing government spending will lessen the impact. Paying people to produce nothing is a big part of how we got into this mess.
 
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