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Officially Worst Recession Since Great Depression

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posted on Aug, 19 2009 @ 09:42 PM
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reply to post by Rockpuck
 


My post in THIS thread was totally ON TOPIC:

Your OP: ( Keyword : HOUSING)
The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.

My post ( Keyword: HOUSING)

In December 2007, the United States entered the longest post-World War II recession, which included a housing market correction, a subprime mortgage crisis, soaring oil prices, and a declining dollar value.


Your OP: ( Keyword : GDP)
This is typical of the United States.. When ever a number comes out.. be it GDP or Unemployment, in a few months we can always count on "Revised" numbers to come out that are far, far worse....

My post: ( Keyword : GDP)

Under the Bush Administration, real GDP grew at an average annual rate of 2.5%,considerably below the average for business cycles from 1949 to 2000.



Linked Article in Your OP: Treasuries, Stocks
Treasuries gained after the GDP report, while stocks closed little changed. Benchmark 10-year note yields dropped to 3.48 percent by the close in New York, from 3.61 percent late the day before. The Standard & Poor’s 500 Stock Index closed at 987.48.

My post:
Bush entered office with the Dow Jones Industrial Average at 10,587, and the average peaked in October 2007 at over 14,000. When Bush left office, the average was at 7,949, one of the lowest levels of his presidency.

Linked Article/Video in Your OP:
Interview with Jon Silvia from Wells Fargo discusses reeling in Government spending.

My Post:
By October 2008, due to increases in domestic and foreign spending, the national debt had risen to $11.3 trillion,an increase of over 100% from the start of the year 2000 when the debt was $5.6 trillion.


It is obvious you think this is your own private sandbox. Unfortunately it doesn’t work that way on ATS. I’ll let the mods judge the intent of my contribution if you don’t mind.

[edit on 19-8-2009 by kinda kurious]




posted on Aug, 19 2009 @ 09:45 PM
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reply to post by kinda kurious
 




It is obvious you think this is your own private sandbox. Unfortunately it doesn’t work that way on ATS. I’ll let the mods can judge the intent of my contribution if you don’t mind.


I guess, you just make an ass of your self. No one is interested in your partisan politics here. Everyone will agree, it transcends political boundaries.. Obama and Bush have the exact same economic advisers (Goldman Sachs).. the Federal Reserve is still the Federal Reserve.. and the Treasury hasn't changed one bit..

Now carry on, I am sure you want to tell us what an amazing job your love Obama is doing, no?



posted on Aug, 19 2009 @ 10:11 PM
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reply to post by Rockpuck
 


I am afraid you are sadly mistaken. It was NOT my intent to be partisan.

Only 2 of the 4 quotes in the Source of my data mentioned Bush since he was President at the time. All 4 related DIRECTLY to your OP and linked article as shown. Nice try.

BTW, as you know not my station in life, you'd be grossly mistaken to assume I don't have a stake in the well being of the economy.

I am here to learn, so educate me.

Aren't you supposed to exhibit a willingness to help others?



[edit on 19-8-2009 by kinda kurious]



posted on Aug, 19 2009 @ 10:17 PM
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Well I think everyone is wrong!

Every president and Congress that have been in office since I've been alive have done a great job! I think the economy will recover tomorrow.



posted on Aug, 19 2009 @ 10:20 PM
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I'm rather disgusted to see some partisanship rear it's head in the Global Meltdown forum as well. There are plenty of villains from both political parties:Barney Frank, Chris Dodd, Phil Gramm, Henry Paulson, Alan Greenspan, Bill Clinton, George W Bush, Ben Bernanke, amongst others pop to mind that should be held accountable for their actions or laws that they passed that led to this Depression. Now we can add Barak Obama and Tim Giethner to the rouges gallery.

Though I couldn't stomach to vote for Obama, but I would have gladly supported him if he turned that lunatic Attorney General of his loose on Wall Street. He hasn't, things ARE NOT getting better and with the passing of time his ability to blame his predecessor diminishes and the ownership of our current malaise rests more and more on his shoulders.



posted on Aug, 19 2009 @ 10:24 PM
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reply to post by kinda kurious
 




I am afraid you are sadly mistaken. It was NOT my intent to be partisan.


Seemed pretty random and partisan to me?



I am here to learn, so educate me.


No president has ever been versed in economics.. hell that's actually the only plus side to the Federal Reserve is that we don't have politicians trying to dictate economic policy. The actual underlying movements of the economy are almost entirely out of the Presidents hands.. The only direct way a President can actually effect the economy is:

Taxation levels.. lowering taxes = more consumer power, higher taxes = lower.

Fear .. if the President doesn't offer some form of stability, be it politically or just reassuringly, it can effect consumer confidence.. I think both Bush and Obama thus far have had more of a "fear factor" on the economy than any other President.. both of their policies are of the nature they benefit the mega wealthy and the mega corporations..

War.. War is excellent for the economy. It wouldn't surprise me that's the reason the troops are still in Iraq, and it certainly wouldn't surprise me to see us go into another theater..

Other than that the economic policies are entirely directed via secular entities and people.. some policies will indirectly hurt or help the economy such as health care, through taxation and raising revenues of insurance companies.. but for the majority of it politics doesn't matter.



Aren't you supposed to exhibit a willingness to help others?


No, when did I ever state I had such an obligation?

PS... it isn't MY sandbox... but it is OUR sandbox, the Meltdown Residents do an extraordinary job at blaming EVERYONE in Government for our economic ailments.

[edit on 8/19/2009 by Rockpuck]



posted on Aug, 19 2009 @ 10:30 PM
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reply to post by Rockpuck
 


Interest levels and inflating the currency have a MAJOR play on the economy, but I don't believe any political party really has much say in that. Or even understands it.. Ron Paul might understand it, Dennis Kucinich might understand it.. that big guy .. democrat.. always forget his name, he's a newbie who likes to yell at Bernake then smile at him.. he understands it.. Everyone else, seriously glazed over looks in their eyes when they sit before the Treasury, Fed and FDIC. Watching C-span I even saw a guy sleeping during a briefing.

Politicians are great lawyers. But I wouldn't look to my Lawyer for financial advice.

(I meant to add that to the post above but I got my coffee and lost my train of thought.)



posted on Aug, 19 2009 @ 10:31 PM
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reply to post by jefwane
 





Though I couldn't stomach to vote for Obama, but I would have gladly supported him if he turned that lunatic Attorney General of his loose on Wall Street. He hasn't, things ARE NOT getting better and with the passing of time his ability to blame his predecessor diminishes and the ownership of our current malaise rests more and more on his shoulders.


If Obama turned a 180 and actually starting calling out the corruption...naming names..including calling out the FED.....

Hey..I'd be with him and I'll support him all the way. The fact is he won't...and never will.

What's he going to do...implicate himself? Hell no.

He's as corrupt as the rest of them and we won't risk destroying his own legacy to make things right.....unless he's absolutely forced to and it's no longer possible to deny.

Remember folks...we are only...what is it.....7 months into this admistration's term?

Think about it. It's not going to be a rosy 3 years to say the least.



posted on Aug, 19 2009 @ 10:33 PM
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Originally posted by Rockpuck
reply to post by kinda kurious
 

Aren't you supposed to exhibit a willingness to help others?

No, when did I ever state I had such an obligation?


It is a tenet of the icon in your Avatar. No?

[edit on 19-8-2009 by kinda kurious]



posted on Aug, 19 2009 @ 10:35 PM
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reply to post by kinda kurious
 


Not at all. Though I believe I have been very straight forward, and do my best to explain economics as well as I can in this forum.

My avatar means I am Irish, and I am a Mason. I have no idea what that has to do with anything I've said.



posted on Aug, 19 2009 @ 10:38 PM
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reply to post by David9176
 


We should have known that nothing would be different when Obama and McCain both supported the original Bail Outs even as millions brought down the House Communications lines voicing extreme anger....

We didn't even get an option to vote.. they both stood for the exact same thing..

And now they wonder why the Militia movements are gaining speed, and lashouts at government are occuring. Who represents the average American? No one.. if you're not filthy rich or well connected no one gives a damn about you.



posted on Aug, 19 2009 @ 10:40 PM
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Originally posted by silent thunder
reply to post by Rockpuck
 


Lincoln also acted contrary to the howls of the Bankers and created the Greenback.

We need an administraion and congress with the stones to make similarly radical moves. Simply close the Fed -- end central banking in America -- this is within the range of the President/Congress but unfortunately the office of the presidency has been turned into a simpering sock-puppetry for the Goldman Sachs Alumuni Societies (ie the Fed and the Treasury). Result: These scumbags are running the economy into the ground for fun and profit (mostly profit). Its more complex than that but you get the pic.


Whoa! Whoa! Whoa! Be careful there JFK tried that with the Silver Certificate and it was a total Fail! Why would we want to mint a new currency backed by the assets of our nation when we can borrow it from someone else? You and your archaic financial ideas are too radical for today’s digital world. If you keep thinking like that you are going to labeled a monetary terrorist!

And I will be your wingman!



posted on Aug, 19 2009 @ 10:43 PM
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reply to post by Absum!
 


LOL .. I don't know specifically what JFK's motives were for his actions.. I don't know if it was based in actual knowledge of economics, or what. It's a damn good thing he didn't get away with what he did.. if we were backed by a metal, we would be bankrupt the next day. Can't have a negative trade balance with a Gold/Silver standard.


Of course if we DID.. we wouldn't have a negative trade balance, we would still be manufacturing, and government spending would almost never be negative.

Financial terrorist indeed
The financial terrorist group is going to need a spiffy name.



posted on Aug, 19 2009 @ 10:48 PM
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reply to post by Rockpuck
 





We should have known that nothing would be different when Obama and McCain both supported the original Bail Outs even as millions brought down the House Communications lines voicing extreme anger.... We didn't even get an option to vote.. they both stood for the exact same thing..


I know.
The American people always lose..it doesn't seem to matter who is in office..in the end we always pay the price. Much of what is happening now in the news media...ALL news media...is nothing but deflection to the real problem.

The corporate influence on our government has destroyed all of our wealth. There has to be a reason government is corrupted. People know it's corrupted but they aren't looking at WHY it's corrupted.

Greed. There is no restraints and no boundaries for corporate power. We can thank Reagan, Bush Sr., Clinton, Bush Jr, and Obama for this.

Obama is not an anti corporate crusader and never will be...and I think Liberals who were hoping he would be that guy are beginning to find out he is not.

All they have to do is look and set aside partisan politics and it's easy to see. Hell, there have been countless threads on ATS proving it but either people aren't looking at them or they are denying it all together.

The problem with Kinda Kurious is that he rarely criticizes any Democrats or those who claim to be liberals. KK is a walking talking point.



posted on Aug, 19 2009 @ 10:57 PM
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I am a total independent that got sucked in to the "hope" Obama brought.

I realized I was a sucker when he said, "We need to move forward..." and in my words,
not exposed and hold those who committed crimes against the US Constitution accountable.

SO, if this Democrat won't hold the republicans accountable, later they won't hold him accountable.

I suddenly realized why I am not affiliated.

Can you say Two-headed coin?



posted on Aug, 19 2009 @ 11:03 PM
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reply to post by David9176
 




All they have to do is look and set aside partisan politics and it's easy to see. Hell, there have been countless threads on ATS proving it but either people aren't looking at them or they are denying it all together.


They disagree on anything that doesn't have a chance in hell of passing..

They agree on everything that's seemingly destructive to the American people.. the Wars, Patriot V. 1.0 and 2.0. Bail outs, "Stimulus" .. I don't think that's a coincidence at all..

If that's not a conspiracy, what is?


Absum says it best: Can you say Two-headed coin?



posted on Aug, 19 2009 @ 11:33 PM
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Originally posted by Rockpuck
reply to
If that's not a conspiracy, what is?


Absum says it best: Can you say Two-headed coin?


Hey, lets take it one step further.
Remove the "i" from the equation.
I think we have a new battle cry!

Two-headed con?



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