Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
Did we just prolong the recession?
Read in several news sources today that the housing market was not as bad as Obama had predicted for Jan.. The jobless claims were not as bad as Obama predicted for Jan.. Is this an indication the economy is trying to settle? So by the urgency to push this pork through the congress, did we just cause another wave in the economy that will take even longer to flatten out?
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
Let me be clear up front that I am no fan of this "stimulus" package, and I'm no fan of the way Barack Obama has been handling himself in trying to sell this to the American people. The rhetoric and tactics are as if he's still on the campaign trail instead of in the Oval Office.
But with that said: I don't have any idea what Obama had predicted the jobless claims would be in January, but the claims did exceed what most economists had projected. The survey average had predicted job losses of 540,000 in January, and the actual amount was closer to 600,000. When we're still trimming in excess of half a million jobs per month, I think it's waaaaaaaay too soon to say that the economy is "trying to settle."
As for whether we've just prolonged the recession with the pork package, I guess time will give us an answer for that one. But I'm pretty confident that it isn't going to pull us out of recession.
My hope is that with the passage of this legislation, our country's leaders can quit harping on how we're headed for the Great Depression II, and maybe then we'll start to see the economy turn around. Of course Obama and the Democrats will get all the credit for turning it around with their spending bill. Speaker Pelosi has a graph on her website that shows what current job trends are in relation to job trends in the recessions of the early '00s and early '90s. In the current recession, job losses were comparable to those recessions until the last 4 months or so, and they've suddenly plummeted, while in the previous 2 recessions things had started to even out by that time. She is of course trying to paint a picture of necessity in getting this stimulus bill pushed through Congress. But what else does that chart correlate with? When our leaders started using scare tactics in their addresses to the American people.
I've long contended that this entire recession is built more on fear than anything else.
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Politics, it seems to me, all too long, has been concerned with right or left instead of right or wrong. ~Richard Armour
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Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
RE: Did we just prolong the recession?
Quote:
ORIGINAL: Griswold
Let me be clear up front that I am no fan of this "stimulus" package, and I'm no fan of the way Barack Obama has been handling himself in trying to sell this to the American people. The rhetoric and tactics are as if he's still on the campaign trail instead of in the Oval Office.
But with that said: I don't have any idea what Obama had predicted the jobless claims would be in January, but the claims did exceed what most economists had projected. The survey average had predicted job losses of 540,000 in January, and the actual amount was closer to 600,000. When we're still trimming in excess of half a million jobs per month, I think it's waaaaaaaay too soon to say that the economy is "trying to settle."
As for whether we've just prolonged the recession with the pork package, I guess time will give us an answer for that one. But I'm pretty confident that it isn't going to pull us out of recession.
My hope is that with the passage of this legislation, our country's leaders can quit harping on how we're headed for the Great Depression II, and maybe then we'll start to see the economy turn around. Of course Obama and the Democrats will get all the credit for turning it around with their spending bill. Speaker Pelosi has a graph on her website that shows what current job trends are in relation to job trends in the recessions of the early '00s and early '90s. In the current recession, job losses were comparable to those recessions until the last 4 months or so, and they've suddenly plummeted, while in the previous 2 recessions things had started to even out by that time. She is of course trying to paint a picture of necessity in getting this stimulus bill pushed through Congress. But what else does that chart correlate with? When our leaders started using scare tactics in their addresses to the American people.
I've long contended that this entire recession is built more on fear than anything else.
True. One thing is for sure, inflation is going to hit an all time high in a short time.
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
Did anyone actually pay for anything or just take advantage of money from lenders? Prolong? As in add to something? They played the role they always do, prolongers. Is it there fault? No, that's like puss blaming infection for gang green when it was the wound received in the act of robbing and killing people that started the whole thing.
The free market should have cleaned up it's act before the people turned to the government for "help". Instead it cared not one wit it was robbing the elderly of every penny they had just to stay warm. Banks adding in fee's for this and that knowing the elderly wouldn't make a fuss about it. The list goes on and on.
The only answer to this problem IS the free market cleaning up it's act, NOTHING else will work, only prolong and soften the inevitable fall.
Did we just prolong the recession?
