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Offline Freeper

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It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« on: September 02, 2009, 11:56:01 AM »
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berni_mccoy  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Sep-02-09 12:31 PM
Original message
It's Official: Obama Saves The Country From the Worst Economic Disaster in Decades (WSJ)   Updated at 12:32 PM
   
Edited on Wed Sep-02-09 12:33 PM by berni_mccoy
And by doing so, he probably saved the global economy as well. Freeper heads can explode now. And I love how this is coming from the WSJ... you know they played this down as much as possible.

http://online.wsj.com/article/SB125185379218478087.html

WASHINGTON -- Government efforts to funnel hundreds of billions of dollars into the U.S. economy appear to be helping the U.S. climb out of the worst recession in decades.

But there's little agreement about which programs are having the biggest impact. Some economists argue that efforts such as the Federal Reserve's aggressive buying of Treasury debt and mortgage-backed securities, as well as government efforts to shore up banks, are providing a bigger boost than the administration's $787 billion stimulus package.

The U.S. economy is beginning to show signs of improvement, with many economists asserting the worst is past and data pointing to stronger-than-expected growth. On Tuesday, data showed manufacturing grew in August for the first time in more than a year. "There's a method to the madness. We're getting out of this," said Brian Bethune, chief U.S. financial economist at IHS Global Insight.


It's clear we aren't out of danger, but it's also clear we've been saved from an economic disaster. Fortunately, the true impact of the stimulus package has yet to be realized.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x6445515

All hail Obama!!111111

Tell you what DUmmies I will celebrate when we are actually out of the recession.



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Offline thundley4

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in D
« Reply #1 on: September 02, 2009, 12:01:29 PM »
Oh wonderful. Let's all hail the jobless recovery, where the only jobs being created are government ones, while the private sector continues to hemorrhage jobs.

BTW, does a "cultural critic" with no economic background really know jackshit about the economy?  I guess to the DUMmies, she's a genius.
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Deborah Solomon (born August 9, 1957) is a journalist and cultural critic with a weekly Q&A column in The New York Times Magazine titled "Questions For." Her column, which has appeared in the newspaper's weekend magazine since 2003, is known for its frank[original research?] and sometimes acerbic[original research?] tone.
Solomon was born in New York City and was educated at Cornell University, where she majored in art history and served as the associate editor of The Cornell Daily Sun. She received a master's degree from the Columbia University Graduate School of Journalism.
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Offline ColonialMarine0431

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #2 on: September 02, 2009, 12:04:50 PM »
Less than 10% of Obamamoney has been distributed. Primitives don't understand that the economy is cyclical, ergo it's useless to debate the issue with them. Many economists predicted a rebound starting in 2009-2010 without Obamamoney.

From the article:

Quote
Much of the stimulus spending is just beginning to trickle through the economy
« Last Edit: September 02, 2009, 12:06:47 PM by ColonialMarine0431 »
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Offline Ralph Wiggum

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in D
« Reply #3 on: September 02, 2009, 12:08:27 PM »
Quote from: ColonialMarine0431 on September 02, 2009, 12:04:50 PM
Less than 10% of Obamamoney has been distributed. Primitives don't understand that the economy is cyclical, ergo it's useless to debate the issue with them. Many economists predicted a rebound starting in 2009-2010 without Obamamoney.

From the article:


The DUmmies are totally clueless (which you've figured out already), but especially when it comes to economics.

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Offline Freeper

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #4 on: September 02, 2009, 12:18:52 PM »
On another thread,

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Glenda  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Sep-02-09 11:28 AM
Original message
Productivity gains are not going to workers
   
Edited on Wed Sep-02-09 11:30 AM by Glenda
http://finance.yahoo.com/news/Getting-More-zacks-122021...



Getting More Productive

(snip)
The second swipe at the second quarter productivity numbers showed that productivity increased at a 6.6% rate, up from the initial read of 6.4%. This was the biggest increase in productivity since the third quarter of 2003.

(snip)

We got that increase in productivity because in the second quarter output fell by 1.5% (roughly consistent with the 1.0% drop in GDP), while hours worked fell by a stunning 7.6%. If measured on a year-over-year basis, output was down 5.5% and hours worked dropped by 7.2% for a productivity increase of just 1.9%. That is actually a bit below the average rate of 2.5% so far this century.

(snip)

Essentially, this means that all of the benefits to higher productivity are accruing to businesses, and virtually none is going to the workers.

That has been the pattern over the last decade, but was not always the case. From the end of WWII to the end of the century, (and especially until 1980 or so) labor and capital shared more or less equally in the fruits of increased productivity. This meant that the standard of living for the median household rose.

In the early years of this century, we saw great growth in corporate profits, but median household income languish. Having all of the benefits of productivity increases go to capital rather than being shared is one of the reasons that income inequality has been rising so rapidly in this country, and is now the most lopsided it has been since the late 1920s.


http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x6444965

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TexasObserver  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Sep-02-09 11:36 AM
Response to Original message
1. This increased productivity is a short term illusion.
   
Employment costs are down because jobs are down drastically, which makes the spread between revenues and costs increase by percentiles as both shrink overall.

There are profits being made at the expense of lost jobs.

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Glenda (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Wed Sep-02-09 12:38 PM
Response to Reply #1
4. Agreed
   
I think the short term illusion can't be sustained. Something gotta give...

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kentuck  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Sep-02-09 12:41 PM
Response to Original message
5. Congress should consider passing a 35-hour work week..
   
Since most companies and corporations are now working most of their employees at that number of hours or less, albeit, to keep from laying off many employees. The labor costs are the lowest on record. This may be a long term trend which needs to be addressed?

Lemme guess a hefty mandated pay increase to go with the loss of those 5 hours as well.



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Offline USA4ME

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #5 on: September 02, 2009, 12:25:24 PM »
Quote from:
berni_mccoy

Freeper heads can explode now. And I love how this is coming from the WSJ...

Uhh...... primitive, except for the WSJ's editorial section, the rest of the paper is further to the left than the NYT's.  Of course you can't recognize this because you're so far to the left you believe the left is the right.  :loser:

.
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Offline jukin

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #6 on: September 02, 2009, 12:34:30 PM »
Quote from: ColonialMarine0431 on September 02, 2009, 12:04:50 PM
Less than 10% of Obamamoney has been distributed. Primitives don't understand that the economy is cyclical, ergo it's useless to debate the issue with them. Many economists predicted a rebound starting in 2009-2010 without Obamamoney.

From the article:


And 95% of that has gone to medicare/caid and states to keep their government/union employees employed.

Also, the worst economic conditions since the great depression is a blatant lie.  Now don't get me wrong Obumbler is working hard on making it that but he sure did not inherit it.
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Offline JohnnyReb

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #7 on: September 02, 2009, 01:34:04 PM »
Borrow-spend, borrow-spend, borrow-spend....and on and on it goes....what happens when we have to pay off all this debt?
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Offline IassaFTots

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #8 on: September 02, 2009, 01:36:21 PM »
Quote from: JohnnyReb on September 02, 2009, 01:34:04 PM
Borrow-spend, borrow-spend, borrow-spend....and on and on it goes....what happens when we have to pay off all this debt?


Uh.....we file bankruptcy, get the debt written off, and then go get more credit, and more debt? 
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Offline The Village Idiot

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #9 on: September 02, 2009, 02:07:44 PM »
Wait until we Cap N Trade and the tax cuts expire. That ought to slap the economy back down... wait, the economy is already down.

Who are these idiots fooling but themselves?
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Offline BlueStateSaint

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #10 on: September 02, 2009, 04:29:08 PM »
Quote from: FGL on September 02, 2009, 02:07:44 PM
Wait until we Cap N Trade and the tax cuts expire. That ought to slap the economy back down... wait, the economy is already down.

Who are these idiots fooling but themselves?

While Cap 'N' Tax has passed the House, with all of the bad press about it, it probably stands about a snowball's chance in Hell of passing the Senate.  The health care takeover is going to endanger enough Dems--they don't want to pour 100 octane on the fire.  Are they idiots?  Certainly.  Are they totally stupid?  I don't think so.  They want to hold onto power for as long as they can--and, knowing the reaction to the health-care "overhaul" so far, they don't want to give the Republicans any more ammunition.

They probably already know that in 2012, the Republicans will win over 60 Senate seats--so either they'll be able to defeat Obama's vetoes (not likely--stay with me), or be able to rubber-stamp a Republican president's repairing of the ****ed-up economy that Obama leaves (the 99.99999% possibility).  They don't want to accelerate that day.
« Last Edit: September 02, 2009, 04:31:59 PM by BlueStateSaint »
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Offline JohnnyReb

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #11 on: September 02, 2009, 04:46:44 PM »
....and as the DUmmie speaks, I hear this tune playing in the background.

"Here he comes to save the day....Mighty Mouse is on the way."
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"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Offline BlueStateSaint

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #12 on: September 02, 2009, 04:50:51 PM »
Quote from: JohnnyReb on September 02, 2009, 04:46:44 PM
....and as the DUmmie speaks, I hear this tune playing in the background.

"Here he comes to save the day....Mighty Mouse is on the way."

Well, it is rumored that Mighty Mouse did do cocaine in an episode . . .
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"Timid men prefer the calm of despotism to the tempestuous sea of Liberty." - Thomas Jefferson

"All you have to do is look straight and see the road, and when you see it, don't sit looking at it - walk!" -Ayn Rand
 
"Those that trust God with their safety must yet use proper means for their safety, otherwise they tempt Him, and do not trust Him.  God will provide, but so must we also." - Matthew Henry, Commentary on 2 Chronicles 32, from Matthew Henry's Commentary on the Whole Bible

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Offline thundley4

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in D
« Reply #13 on: September 02, 2009, 04:58:34 PM »
Quote from: BlueStateSaint on September 02, 2009, 04:50:51 PM
Well, it is rumored that Mighty Mouse did do cocaine in an episode . . .

The ears were a dead give away, weren't they?
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Offline BlueStateSaint

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in D
« Reply #14 on: September 02, 2009, 05:05:43 PM »
Quote from: thundley4 on September 02, 2009, 04:58:34 PM
The ears were a dead give away, weren't they?

 :lmao: :evillaugh: :rotf: :lmao: :evillaugh: :rotf:

 :cheersmate: :cheersmate: :cheersmate:
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"Timid men prefer the calm of despotism to the tempestuous sea of Liberty." - Thomas Jefferson

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Offline Randy

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #15 on: September 02, 2009, 05:39:50 PM »
The dims grabbed control of Congress when again? Oh yeah what was the date they say the recession began?

 :whatever:
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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #16 on: September 02, 2009, 05:45:43 PM »
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Offline crockspot

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #17 on: September 02, 2009, 05:51:41 PM »
Does this mean I can go back to work now? No?  :thatsright:
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Offline Chump

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #18 on: September 02, 2009, 05:53:19 PM »
Amazing.  CRE is set to hemorrhage, we still haven't stopped monetizing our debt and printing money (or Quantitative Easing, if you prefer to obfuscate), real unemployment is still rising from 16%, zombie banks still exist, and we haven't removed a bit of our toxic debt.

But there was an article online that said everything is cool!  Totally awesome!  I'm glad I don't have to think for myself and draw my own conclusions!

/DUmmie
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Offline Chris_

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #19 on: September 02, 2009, 05:54:44 PM »
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berni_mccoy  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Wed Sep-02-09 12:31 PM
Original message
It's Official: Obama Saves The Country From the Worst Economic Disaster in Decades (WSJ)   Updated at 12:32 PM

blah blah blah...  More useless shilling for Lord Ø amongst the DUmp chior...

I'm going to hold on to this little post, and when the bottom falls out from under the Bear Rally that the market is currently in the midst of, I'm going to send a legion of moles over to the DUmp to remind you of this utterly asinine assertion of yours - and point and laugh, of course.
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Offline Chump

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #20 on: September 02, 2009, 06:03:12 PM »
Quote from: DefiantSix on September 02, 2009, 05:54:44 PM
I'm going to hold on to this little post, and when the bottom falls out from under the Bear Rally that the market is currently in the midst of, I'm going to send a legion of moles over to the DUmp to remind you of this utterly asinine assertion of yours - and point and laugh, of course.

I'll burn one of mine with you.   :-)
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Offline The Village Idiot

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #21 on: September 02, 2009, 11:20:13 PM »
The Teddy Bear Rally

 :popcorn:
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Offline Chump

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Re: It's Official: Obama Saves The Country From the Worst Economic Disaster in Decad
« Reply #22 on: September 03, 2009, 07:53:42 AM »
http://market-ticker.denninger.net/archives/1400-Why-Our-Economy-Is-Utterly-Screwed.html

This explains much better than I can why Obama is actually encouraging a deeper recession/depression.

I apologize in advance for posting a link with actual graphs and numbers and stuff.  I'm one of those crazy people that appreciates hard facts over hyperbole and anecdotes (not to say there is no worth in anecdotal evidence).

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Political tags - such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth - are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire.   ~Robert A. Heinlein

...let the cannibal who snarls that the freedom of man's mind was needed to create an industrial civilization, but is not needed to maintain it, be given an arrowhead and bearskin, not a university chair of economics.
~Atlas Shrugged, Galt's speech
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