Posted on 01/30/2009 8:21:27 AM PST by IMissPresidentReagan
Great article about Fannie Mae... Makes Nixon’s Watergate look like a CHURCH PICNIC!!
To who post and lurk at the Rush Limbaugh Show Thread, greetings for a good weekend and God Bless. :) =^..^=
As they should. It’s the one thing I dislike about Rush - he needs to sit down with Karl Denninger or Mish Shedlock and get an economics education.
Working for GM used to be as rock solid as working for the Feds or for IBM or for your local electric utility. I'm sorry about the layoff. I won't annoy you with any upbeat pablum
LOL Rush is so wrong when he tries to heap all blame on the Feds and gubbermint in general. Gubbermint dolts hurt us (Barney and Dodd etc) but none of them were paid millions each year for bundling mortgages and cooking up derivatives
Actually, you and I are together on economics not being Rush's strong point.
I got this wrong though; what really happened was that some CNN economist was saying that it's a "lie" to deny that things weren't as bad as the Great Depression. Rush pointed out that not only were today's gdp numbers not as bad as '82, but that in '08 the gdp actually grew. It's amazing but what we got is an entire year of an official recession where the gdp grew.
YES IT WAS!!
I enjoy your upbeat approach...thanks for your help.
Yeah - we didn’t know how good we had it back in March after BSC failed and the market rallied *sigh*
Seems like the good old days :)
I do dislike it tho when Rush doesn’t temper these kind of statements with what’s going on in the last qtr to today. He comes off looking like a fool.
I’m addicted to Chris Plante now. If WMAL ever moves his time I don’t know what I’ll do.
What's going on today is that we now have a tally on the gdp, and it's not half as bad as what the dem press has said it was. Sure, anyone can say they really believe everything's getting worse, and anyone can say that they're so sure that the world's terrible now because they just feeeel it.
Nonsense. In the market we got a pile of money that we can count, and when someone else counts it and gets the same number then we can work together. That other stuff is political fantasyland.
It is outrageous, but it will just increase the resolve of his opposition I think.
I missed the last few minutes of Rush's show on Friday, when he probably made the announcement. Thanks in advance for any info. :o)
Must not be settled yet...I see nothing about it on his site....
Thanks for checking, Fawn. I checked Rush’s site before and didn’t find it either. Oh well, I guess we’ll find out on Monday...?
I don’t know...he didn’t say. I hope he’s only gone for a week, though.
GDP. Did you look at the inventory number buried in GDP ? Many more factory closings and layoffs coming, which will do wonders for debt defaults and decreased consumer spending.
You know, while I’m a bear right now and think there’s a lot more very bad trouble coming, I am not a pessimist. I absolutely welcome a “reset” that might, just might if the good citizens of this land get off their lardasses and turn off Dancing With the Stars, result in crooks in DC getting flushed and more honesty and simpler organizations as a way of life.
In the meantime, I’ll be prepared to weather the storm I think we’ll get.
The latest GDP press release makes it easy enough to see all there is to inventories. They were on the list but not very high on it:
The decrease in real GDP in the fourth quarter primarily reflected negative contributions from exports, personal consumption expenditures, equipment and software, and residential fixed investment that were partly offset by positive contributions from private inventory investment and federal government spending.
The numbers are all there, and the biggest drop was in exports --19.7% and it could easily get worse with all the loopy protectionism going around. The fact that the drop in spending (4.6%) was about twice the drop in incomes (2.6%) shows how excessive American savings has gotten. That wasn't a typo, excessive savings is hurting the economy.
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