Posted on 10/31/2009 6:10:45 PM PDT by peeps36
It's true, the 3.5 percent third quarter GDP growth could be a good sign of good things to come...but most likely that's not the case. Brian Sullivan of FBN has put together five reasons why the US is not recovering.
(Excerpt) Read more at dailyreckoning.com ...
Summary of the five reasons for those joining us...
1. O
2. B
3. A
4. M
5. A
Any questions?
“The first 3 grew.”
Come again?
“If a lie is told enough times eventually the listener will believe it.”
The government and media have been lying to you for decades. The correct answer is right in front of you but as you said the government (through the state controlled media) controls what you think. Here’s the answer to the biggest lie in history but if you’re a typical American, you’ll wait for the media to tell you what’s the right answer even though you can see it, people heard it, and the audio recording proves it.
http://www.youtube.com/watch?v=cwjM2wVwFQs
3.5 GDP should make us feel good, like taking a cash advance on a credit card to improve our financial status.
The first 3 added to GDP growth, the last one subtracted from GDP growth. Clear?
RUSH: They're not. Look, you can try to cover up 10% unemployment all you want with a phony GDP number of 3.5%, you can go out there and say you saved the economy, but there are no jobs. Obama is gratified, but by his own benchmark his economy is still failing. Now, let me see if I can put this GDP number into context for you, 'cause it's phony. It is a fake number. Gross domestic product needs to be understood as the sum of three things: consumption by consumers, investment by business, and spending by government, CIG. Consumption, investment, spending by government. So they say the total GDP went up 3.5%. But was there any new consumption by consumers? No. Was there any new investment by business? No. Was there spending by government? Yes. That's the G. The increase is in G, spending by government.There was no investment in business. There was no consumption by consumers. You've seen all the numbers. Home sales down; consumer spending down. There was no economic growth. What happened here, you had the Clash for Clunkers fiasco and now the Edmunds.com bunch estimates that that program cost taxpayers $24,000 for every car sold, and then there was that first time home buyers fraud, all kinds of government spending which was government borrowing. So the government spending sector goes up, and they, oh, the economy grew by 3.5%. It did not. Government grew. All that's happened here is that money has been shifted from taxpayers today and tomorrow into Obama approval ratings today.
Was this supposed to refute my post?
Every figure of GDP growth I've ever seen has included inflation, otherwise the late 1970s would have been our most prosperous time ever. Now whether inflation is calculated correctly is another matter entirely.
Forget it. I give up. Probably a first (for me), but we’re all forced to do so sooner or later.
Even better. We borrowed our kid's and grandkid's credit cards. Whoopee!!! Let's go to town!!
I understand, you're confused and don't want to admit it. Don't let it get you down.
I understand, you're confused and don't want to admit it. Don't let it get you down.No, I find myself responding to a very thick individual who answered my first question with a stupid reply.
Any body with a portion of a working mind could see I was asking a rhetorical question about the make-up of that 3.5% figure.
Furthermore, your answer was wrong.
A correct answer has not yet been made (hint: the excerpted text from Rush's site can get you there).
But, as I said, I give up; you're too thick ...
Geez.
Which one (which component) grew again?
The first 3 grew.
This was a stupid reply? How's that?
Any body with a portion of a working mind could see I was asking a rhetorical question about the make-up of that 3.5% figure.
So you didn't want to know what components of GDP grew.....okay.
Furthermore, your answer was wrong.
Really? Could you show me?
End
Run away. LOL!
End
If someone without their head up their ass wants to see the real components, they can look here.
Pages 8 and 10 have some good, non-rhetorical numbers.
End
LOL!
It’s all borrowed and printed money. They lie.
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