Posted on 07/18/2022 9:37:41 AM PDT by JV3MRC
The New York Times Magazine is getting in front of estimates that the U.S. GDP contracted again in the second quarter by slamming the country’s “obsession” with economic growth.
The Times Magazine published an asinine interview with leftist economist Herman Daly headlined: “This Pioneering Economist Says Our Obsession With Growth Must End.” “Growth is the be-all and end-all of mainstream economic and political thinking,” Times Magazine staff writer David Marchese wrote in the introduction section. “Without a continually rising G.D.P., we’re told, we risk social instability, declining standards of living and pretty much any hope of progress.” What if, Marchese speculated, our “current pursuit of growth, rabid as it is, causing such great ecological harm, might be incurring more costs than gains?” The Atlanta Federal Reserve’s latest GDPNow estimate is that U.S. GDP contracted 1.5 percent in the second quarter, meeting the “practical definition of a recession” – two consecutive quarters of negative growth. [Emphasis added.]
(Excerpt) Read more at newsbusters.org ...
I was wondering when the left would go back to the old Jimmah Carter rants about “selfish Americans who need to learn to sacrifice”.
They will get there...
Liberals don’t GET wealth.
They think that if you are successful, you took something from someone ELSE. Never mind that you busted your a*% for 30 years to get it!
Interesting. And here I grumble over the NYT’s lack of professionalism and journalistic ethics.
The New Yawk Slimes needs to pull up its sewer pipes and move to another country where they would be more comfortable. Mexico is nice.
The Fed target for inflation should NOT be 2%, it should be 0%.
Next report is going to be brutal, if they are already running cover.
Next fake news will be telling us “America’s ‘Rabid’ ‘Obsession’ with eating food” must end.
America, unlike Europe, is build on Economic growth.
The whole country is build kind of temporarily, accounting for growth.
If America stops, it will fall apart quickly.
Heheh. You used “liberals” and “think” in the same sentence.
Disgusted reader Grumbles Over the left’s ‘Rabid’ ‘Obsession’ with abortion, destroying the family, and taking money from those who earn it to give to those who vote democrat.
RE: NYT Magazine Interview Grumbles Over America’s ‘Rabid’ ‘Obsession’ with Economic Growth
Since it is from the NYT Mag, I passed on reading the article.
So the question is; Did they come out in favor of Economic Stagnation?
Next week, they will be saying an intense concern in the nation’s economy is most likely a vestige of “Whiteness”.
Don’t laugh. You see how the trend is going.
Luckily, this is being called out as a way to hush opposition.
This would be only the latest action of those who love being lazy, unreliable, unaccountable, responsible for nothing and don’t ever want to be judged. A Hermit Crab existence of grab, then grab some more.
A growing economy simply means your people are finding productive ways to support themselves.
People making stuff and doing stuff that people need.
In other words, normalize failure.
When the money supply (M1) grows faster than the GDP, you get inflation. When the money supply continues to grow while the GDP is contracting, you get stagflation. When the money supply grows exponentially faster than the GDP, you get hyperinflation. When the money supply grows exponentially faster than ever before, while the GDP is contracting, you get socialist utopias like Venezuela and Zimbabwe.
This is not rocket science, it is Econ 101.
We here in the Blennos household have a rabid obsession with paying our bills and putting food on the table.
Too rich.
They just interviewed someone on the local news this morning at a food pantry and they said donations were down.
Donations are down bc GDP is down. Yet liberals cannot see that connection.
Part of the fun of being a lefty Democrat is that you get to run for office promising economic growth—and then after you have crushed the economy with your stupid and dangerous policies you get to blame the public for being selfish and greedy!
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