GDP 1.3%. Look Out Below! v.Obamanomics fails hard

you know, usually when somebody nearly drives their car off a cliff so that it's only hanging on by the rear tires, you're supposed to get the tow truck to hook up to the frame and pull it to safety not ram it right off the edge. Bush/Obama
 
In order to properly adjust for inflation, they must accurately estimate inflation. But since the government is understating inflation, their real gdp nuraber is wrong. They claim inflation is 2%, but it is closer to 10%
 
@ Peter Schiff





http://online.wsj.com/article/SB123327685671031439.htmlPeter Schiff predicted a collapse of the U.S. financial system. The bust-up he didn't foresee was the one that made mincemeat of investors who took his advice in 2008.
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Early last year, Richard De Gennaro, a retired Harvard University librarian, put $100,000, about 15% of his assets, into a Euro Pacific account that included Canadian Oil SanRAB Trust, which focuses on crude-oil projects in Canada, and the India Capital Growth Fund, which holRAB investments in companies that do business in India.

Both investments took big hits in 2008, compounded by the fact that the Canadian dollar and the Indian rupee fell 18% and 19%, respectively, against the U.S. dollar. The 83-year-old retiree's account is now worth about $37,000, a 63% plunge. Mr. Schiff "goes around saying that he was right," says Mr. De Gennaro. "He was right about one thing and wrong about everything else.

Among investors who turned to Mr. Schiff's firm just as his strategy began to falter, Brian Kullberg, a design engineer in Portland, Ore., says he started to worry about the state of the U.S. economy in early 2008. He put $70,000 into a Euro Pacific account, hoping it would benefit as the U.S. economy and the dollar weakened. By late January 2009, his investment had shrunk to about $25,000.


http://weblogs.baltimoresun.com/busi...exaggerat.htmlAndrew Schiff, Peter Schiff's brother, responRAB...... "While it is true, that our accounts have suffered badly in 2008, a fact that we have never disputed or ran from...."

"2002 is the beginning of a bear market, and teh hyperinflationz is right around the corner!!!11 "




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Failed bullshit about "GOLD TO $2000 " .... oh, by the end of 2008

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KEEP PREDICTING A RECESSION "REAL SOON" EVERYDAY FOR 7 YEARS

FINALLY BE RIGHT ... LIKE A STOPPED CLOCK
 
if people would spend more time reading books and less time pounding their chests on OT, we wouldn't have these disagreements
 
tax breaks for those jerb creators sure created a lot of jerbs.

what were they called again? the clinton tax cuts? reagan tax cuts? help me, i'm having a hard time recalling who instated that policy and the party that keeps reapproving them.
 
My response would be: Counter cyclical fiscal policy.


We're in a slump... tackle THAT. Fuck the long-term down-the-road problem of the deficit. More temporary tax credits, more small business loans, more job training investments, more infrastructure projects. Even enact a few tax credits based on GDP and unemployment .... if projected GDP is less than 2% or unemployment is greater than 7% then FICA cut in half and $1000 tax credit.


Only AFTER we're on a solid economic footing, would I say to seriously go at the budget. I've recommended shit like this:
 
don't you people realize that if the federal reserve is targeting 2% price inflation and gdp goes up 1.3% that's a contraction?
 
what does that have to do with anything? i can't classify myself 100% repub or conservative



ok so again, your bush pic was hilarious in that you have no idea what he is actually responsible for

good show troll on
 
Without Keynesian intervention: 3+ years of negative GDP, Great Depression, broken financial system, 4 years of skyrocketing unemployment hitting 25% in 1933


With stimulus and a financial system saved from collapse: recession, 1 year of negative GDP, 1 year of steadily increasing unemployment hitting 10%, government bailout to financial system repaid in full with interest






Oh yes. Such a failure of Keynesian intervention
 
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