Ok? Get back to me when your radio show is on the 20+ years.
“He has spent the past three weeks denigrating the 5.7% GDP growth rate of the 4th quarter,...”
What part of the Kenyan and his minions are manipulating the data don’t you understand? The high jobless rate is fatal to the success of the Kenyan’s communist coup.
Employment is not painfully high, unemployment is.
This ianalysis would be really nice EXCEPT that the latest numbers on unemployment claims ROSE. Fact is we are in a nasty long recession made worse by the idiots in DC
Government spending has hurt us enormously and there is NO END in sight.
Remember that all of these number crunching stats guys are the smart ones who brought us ENRON and AIG. Their track record shows successes only for themselves
You claim to be very devoted to Free Repulic, didn’t you join less than 3 months ago?
On substance, I do NOT believe Rush attributes GDP growth to the “stimulus”. He says the stimulus money went in large part to government union workers who are democrat party supporters to prop up their unions.
He says just the opposite, that the stimulus created no jobs (Bayh agrees).
Maybe I’m IBTZ.
Well that certainly is an interesting perspective. You’ll get no flames from me as I do enjoy other’s thoughts on these serious issues, but I agree that the “flame-proof suit” is a good idea.
Maybe you need to read up on what Art Laffer is saying. I believe Rush has it correct.
I skimmed your letter, my advice to Rush is to avoid it altogether.
Wow -- and to think that you came up with this dissertation of yours, statistics and all, in what??? twenty minutes.
Please take this in the kindest possible way, but why not tell Mr. Limbaugh, not us? We are hardly responsible for his shop prep (although I like to think we have validated some of this opinions and helped him form an opinion as to the mood of his audience.
In other words, go tell someone who is able to affect the outcome. Mr. Limbaugh doesn’t seem like someone who isn’t able to reassess his position if proven wrong. God knows, he’s had enough humbling experiences in life.
Of all of the economics pieces on this melt down that could be recommended, anything by Westbury is a lose-lose proposition. He didn’t see this coming, and he has no clue how bad it is.
I used to follow stocks....
please explain to us why, when there is good economic news the stock market tanks and when there is terrible news the market skyrockets?
LLS
I heard most of the growth was due to restocking.
Please, STOP! Stop the gloom, stop the pessimism, stop the sloppiness.
You have got to be listening to somebody I am not familiar with.
You are exactly right... Re-stocking inventories drove 3% of the 5.7% growth. Retail sales another 100+ basis points. But, honestly, this should have been expected as the economy is coming off such a low base. I’ve been posting on here for a year that Q4 and Q1 GDP numbers were going to be strong. The issue, both economically and politically, is what happens in the second half of 2010 and 2011. Art Laffer has stated that he thinks that 2010 will be strong as everyone is anticipating higher taxes next year and will get there spending in now and cut it back next year to pay for the increased tax bill.
There is extreme danger in thinking that the economy won’t recover between now and 2012 and Obamarx is a sure 1 termer. The economy will almost certainly be in the 3rd year of recovery and there will be job growth (barring a catastrophic terrorist attack or massive economic miscues like raising taxes on everyone or China collapsing). The US economy is just too strong and resilient...and it will have NOTHING to do with Obamarx but he will get the credit. The president always does.
As a financial professional (you), I would instead let this thread die and reformat it a different way. From the get go, structure a broad overview of the financial trend as you see it and what indicators mean what. Then project a short and long term estimation of our situation. This way you instruct those that are not financial pros and also allow other financial pros who have a different view to build a positive argument on viewpoints.
As it is I'm afraid you condemned yourself to adversarial bickering with very few Freepers sticking around long enough to learn anything because name calling and heat get tiring.
If you do reformat the post to a more educational and less confrontational format, I would be interested in your view as to what China's dumping of 34 billion of our bonds mean. I'm not really interested in this thread as constructed though, because with the animosity it is designed to generate it probably won't produce much information of value.
Good luck and I hope we see more neutral educational financial threads on FR. I would join that ping list.
And, I would add, that most of the people writing on economics for _National Review_ also have their heads in a hole in the ground. Ben Stein, Larry Kudlow, et al. They all were wrong going into 2008, they’re still wrong now.
The people who keep claiming that tax cuts will cure what is wrong with the economy now are just out to lunch. Tax increases certainly won’t help anything, but tax cuts (other than payroll tax cuts) won’t induce consumers to spend. The Bush tax rebates showed us what people will use “found money” for - paying down debt. Not spending.
“Limbaugh seems to coming from the all-too-common fatalistic perspective here on FR:....”
Guess your newbie screed really is against Free Republic.
To clarify for your brilliant economic mind. We have a business contraction still under way in important segments of the economy, because government has raised taxes, overspent, over regulated, and threatened humongous additional regulations and takeovers.
Many economists say that bottom lines improved somewhat but that the top line, revenue, is way down. People don’t have jobs, people aren’t spending, institutions aren’t lending.
But here you are to explain that everything is much rosier, when Obama just predicted high unemployment for years.
As for the George W. Bush years, most of those saw VERY low unemployment and strong growth.
And finally, whatever growth the economy sees would have been more robust with less spending and less harrassment by a left wing government.
You claimed to be just as opposed to Obama’s policies as the rest of us. You sure didn’t write much about that.