Economy returns to growth - It's Obamas fault!

mtroute · 10-29-2009, 11:25 AM

Lets see if those who blamed him for the recession change their tune...I doubt it.

Economy returns to growth after a year of declines - Yahoo! News

RawheaD · 10-29-2009, 11:35 AM

Don't even dream about it, cuz it won't happen. If Obama brough everlasting world peace on earth, they'd find major fault with it.

jsherman999 · 10-29-2009, 12:28 PM

Originally posted by mtroute

Lets see if those who blamed him for the recession change their tune...I doubt it.

Economy returns to growth after a year of declines - Yahoo! News

.

The economy is like a flock of migrating sparrows escaping a predator. The entire flock can be moving up while individuals or even flocks-within-the-flock are still shooting down.

We're seeing some of the leading indicators going up now, but unless most of the trailing indicators are also going up in 11 months (read: jobs,) the Republicans might be able to confuse enough people into thinking that the economy is still 'bad' to win a few house seats back, and maybe a Senate seat or two.

But by 2012, there will be no denying the facts. We'll have 1) a better economy, 2) some form of health-care reform on the books, 3) probably more stability in Afganistan/Pakistan, with a 50-50 shot of having captured or killed Bin Laden.

My prediction: President Obama until Jan 2017.

PS: shouldn't this be in 'General Talk'?

.

**Ash** · 10-29-2009, 01:07 PM

A politician in power can do no right.
Just wait until some of our esteemed republican members tear this one apart...

graphicgr8s · 10-29-2009, 01:45 PM

Is it sustainable? Or will we still be paying for this "upturn".

Quote:

It was also driven by government programs like the popular discount on some new motor vehicle purchases, which stimulated auto sales and production, and a $8,000 tax credit for first-time home buyers.

The auto discount program ended in August and the home tax credit is due to expire next month. In the absence government support, there are fears that the sprouting economic recovery could falter, with rising unemployment also inflicting damage.

A separate report from the Labor Department showed the number of U.S. workers filing new claims for jobless benefits dipped by 1,000 last week to 530,000 last week.

Analysts polled by Reuters had forecast claims to fall to 521,000 last week from 531,000.

When the last of the money giveaways end will we be better or worse? Have we really spurred the economy or have people just gotten into debt more?

I'll still stand by the prediction I made in the "Predictions" thread. So far I am correct.

Quote:

I think it will pick up through the end of the year then tank after January 2010. It will start up again 1st, maybe 2nd quarter of 2011.

And lets not forget this article:

http://news.yahoo.com/s/ap/20091029/ap_on_bi_go_ec_fi/us_economy;_ylt=A0LEap...Nvbm9teWdyb3dp

Quote:

Fueled by government stimulus, the economy grew last quarter for the first time in more than a year. The question now is, can the recovery last?

Federal support for spending on cars and homes drove the economy up 3.5 percent from July through September. But the government aid — from tax credits for home buyers to rebates for auto purchases — is only temporary. Consumer spending, which normally drives recoveries, is likely to weaken without it.

If shoppers retrench in the face of rising joblessness and tight credit, the fragile recovery could tip back into recession.

Even this part of the liberal media gets it.

Quote:

Consumer spending, which normally drives recoveries,

Not government handouts.

But let's give the big O credit, since we are out of the recession let's not spend the other 90% of the stimulus. And we shouldn't really need the third one thay are talking about now should we. And contrary to what Barney Frank says lets actually put the repaid money back were it was suppose to go instead of spending it like he wants to do.

For the record I don't blame the Obama for the recession. It started before Bush.

And for your reading pleasure on the stimulus jobs:
http://news.yahoo.com/s/ap/20091029/ap_on_bi_ge/us_stimulus_jobs_13

Jodokast96 · 10-29-2009, 02:29 PM

Thanks for covering that point. I don't think anybody blames him for it. But don't think all of this he's doing now won't have some bad repercussions long after he's out of office.

Gooshin · 10-29-2009, 02:31 PM

i'm curious how many here have been seriously hit by the economy downturn.

i havent "felt" economic pressure for the last 10 years, ever since i got myself "a job doing anything", but apperantly our economy has been going up and down all over the place..

what gives??

**Ash** · 10-29-2009, 02:34 PM

Look at it at the business level...

You only need to look as far as those who lost their jobs who would still have been working in those jobs if the downturn didn't happen.

US unemployment is at just under 10% - Australia mainly escaped this kind of surge (kudos to uncle Kev for the leadership) so we may not be suffering as much here, but it would be heart-wrenching needing to pay bills when you've lost your regular income suddenly.

Jodokast96 · 10-29-2009, 02:39 PM

Personally, no I haven't really felt it. And no I am not well off by any means, at best middle of the middle class. I've seen numbers at work drop off a bit, seen it affect others badly, and yet I've seen others growing with businesses at the same time. I know there are those out there suffering because of it, but at times I've thought things are bad only because we are being told they are bad.

Jodokast96 · 10-29-2009, 02:41 PM

Originally posted by Ash

Look at it at the business level...

You only need to look as far as those who lost their jobs who would still have been working in those jobs if the downturn didn't happen.

A lot of what I've seen is business finding the excuse they needed to dump a lot of dead weight. Not saying good people weren't let go one bit, but a lot more garbage seems to have gone with them.

Gooshin · 10-29-2009, 02:42 PM

Originally posted by Jodokast96

, but at times I've thought things are bad only because we are being told they are bad.

you should chat with those people who "are doing well"

and analyze those people who are "doing bad"

**Ash** · 10-29-2009, 02:46 PM

Those who are doing bad are probably doing no differently - just bad...
Those who are doing well have a lot more to lose... esp. in the stock market...

Gooshin · 10-29-2009, 02:48 PM

Originally posted by Ash

Those who are doing bad are probably doing no differently - just bad...
Those who are doing well have a lot more to lose... esp. in the stock market...

ahh.. the stock market

so glad i dont have a penny in there.

jsherman999 · 10-29-2009, 02:48 PM

Originally posted by Gooshin

i'm curious how many here have been seriously hit by the economy downturn.

i havent "felt" economic pressure for the last 10 years, ever since i got myself "a job doing anything", but apperantly our economy has been going up and down all over the place..

what gives??

.

How can you seriously say there is no noticeable downturn? We've seen the price of a S-M-C Tak 50 1.4 go from $120 to $75 in the marketplace!

Gooshin · 10-29-2009, 02:48 PM

Originally posted by jsherman999

.

How can you seriously say there is no noticeable downturn? We've seen the price of a S-M-C Tak 50 1.4 go from $120 to $75 in the marketplace!

Well gladly i already have one so no worries

10-29-2009, 11:25 AM	#1
mtroute Veteran Member Join Date: Jun 2009 Location: Portland OR Posts: 533	Economy returns to growth - It's Obamas fault! Lets see if those who blamed him for the recession change their tune...I doubt it. Economy returns to growth after a year of declines - Yahoo! News

10-29-2009, 12:28 PM	#3
jsherman999 Veteran Member Join Date: Dec 2007 Photos: Gallery Posts: 8,237	Originally posted by mtroute Lets see if those who blamed him for the recession change their tune...I doubt it. Economy returns to growth after a year of declines - Yahoo! News . The economy is like a flock of migrating sparrows escaping a predator. The entire flock can be moving up while individuals or even flocks-within-the-flock are still shooting down. We're seeing some of the leading indicators going up now, but unless most of the trailing indicators are also going up in 11 months (read: jobs,) the Republicans might be able to confuse enough people into thinking that the economy is still 'bad' to win a few house seats back, and maybe a Senate seat or two. But by 2012, there will be no denying the facts. We'll have 1) a better economy, 2) some form of health-care reform on the books, 3) probably more stability in Afganistan/Pakistan, with a 50-50 shot of having captured or killed Bin Laden. My prediction: President Obama until Jan 2017. PS: shouldn't this be in 'General Talk'? . Last edited by jsherman999; 10-29-2009 at 12:33 PM.

10-29-2009, 01:45 PM	#5
graphicgr8s Guest	Is it sustainable? Or will we still be paying for this "upturn". Quote: It was also driven by government programs like the popular discount on some new motor vehicle purchases, which stimulated auto sales and production, and a $8,000 tax credit for first-time home buyers. The auto discount program ended in August and the home tax credit is due to expire next month. In the absence government support, there are fears that the sprouting economic recovery could falter, with rising unemployment also inflicting damage. A separate report from the Labor Department showed the number of U.S. workers filing new claims for jobless benefits dipped by 1,000 last week to 530,000 last week. Analysts polled by Reuters had forecast claims to fall to 521,000 last week from 531,000. When the last of the money giveaways end will we be better or worse? Have we really spurred the economy or have people just gotten into debt more? I'll still stand by the prediction I made in the "Predictions" thread. So far I am correct. Quote: I think it will pick up through the end of the year then tank after January 2010. It will start up again 1st, maybe 2nd quarter of 2011. And lets not forget this article: http://news.yahoo.com/s/ap/20091029/ap_on_bi_go_ec_fi/us_economy;_ylt=A0LEap...Nvbm9teWdyb3dp Quote: Fueled by government stimulus, the economy grew last quarter for the first time in more than a year. The question now is, can the recovery last? Federal support for spending on cars and homes drove the economy up 3.5 percent from July through September. But the government aid — from tax credits for home buyers to rebates for auto purchases — is only temporary. Consumer spending, which normally drives recoveries, is likely to weaken without it. If shoppers retrench in the face of rising joblessness and tight credit, the fragile recovery could tip back into recession. Even this part of the liberal media gets it. Quote: Consumer spending, which normally drives recoveries, Not government handouts. But let's give the big O credit, since we are out of the recession let's not spend the other 90% of the stimulus. And we shouldn't really need the third one thay are talking about now should we. And contrary to what Barney Frank says lets actually put the repaid money back were it was suppose to go instead of spending it like he wants to do. For the record I don't blame the Obama for the recession. It started before Bush. And for your reading pleasure on the stimulus jobs: http://news.yahoo.com/s/ap/20091029/ap_on_bi_ge/us_stimulus_jobs_13 Last edited by graphicgr8s; 10-29-2009 at 02:09 PM.

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10-29-2009, 11:35 AM	#2
RawheaD Veteran Member Join Date: Dec 2008 Location: MA, USA Photos: Gallery Posts: 831	Don't even dream about it, cuz it won't happen. If Obama brough everlasting world peace on earth, they'd find major fault with it.

10-29-2009, 01:07 PM	#4
Ash Loyal Site Supporter Join Date: Mar 2007 Location: Toowoomba, Queensland Photos: Gallery \| Albums Posts: 23,920	A politician in power can do no right. Just wait until some of our esteemed republican members tear this one apart...

10-29-2009, 02:29 PM	#6
Jodokast96 Veteran Member Join Date: Oct 2007 Location: Erial, NJ USA Photos: Gallery \| Albums Posts: 2,134	Thanks for covering that point. I don't think anybody blames him for it. But don't think all of this he's doing now won't have some bad repercussions long after he's out of office.

10-29-2009, 02:31 PM	#7
Gooshin Veteran Member Join Date: Sep 2007 Location: Toronto, the one in Canada. Posts: 5,610	i'm curious how many here have been seriously hit by the economy downturn. i havent "felt" economic pressure for the last 10 years, ever since i got myself "a job doing anything", but apperantly our economy has been going up and down all over the place.. what gives??

10-29-2009, 02:34 PM	#8
Ash Loyal Site Supporter Join Date: Mar 2007 Location: Toowoomba, Queensland Photos: Gallery \| Albums Posts: 23,920	Look at it at the business level... You only need to look as far as those who lost their jobs who would still have been working in those jobs if the downturn didn't happen. US unemployment is at just under 10% - Australia mainly escaped this kind of surge (kudos to uncle Kev for the leadership) so we may not be suffering as much here, but it would be heart-wrenching needing to pay bills when you've lost your regular income suddenly.

10-29-2009, 02:39 PM	#9
Jodokast96 Veteran Member Join Date: Oct 2007 Location: Erial, NJ USA Photos: Gallery \| Albums Posts: 2,134	Personally, no I haven't really felt it. And no I am not well off by any means, at best middle of the middle class. I've seen numbers at work drop off a bit, seen it affect others badly, and yet I've seen others growing with businesses at the same time. I know there are those out there suffering because of it, but at times I've thought things are bad only because we are being told they are bad.

10-29-2009, 02:41 PM	#10
Jodokast96 Veteran Member Join Date: Oct 2007 Location: Erial, NJ USA Photos: Gallery \| Albums Posts: 2,134	Originally posted by Ash Look at it at the business level... You only need to look as far as those who lost their jobs who would still have been working in those jobs if the downturn didn't happen. A lot of what I've seen is business finding the excuse they needed to dump a lot of dead weight. Not saying good people weren't let go one bit, but a lot more garbage seems to have gone with them.

10-29-2009, 02:42 PM	#11
Gooshin Veteran Member Join Date: Sep 2007 Location: Toronto, the one in Canada. Posts: 5,610	Originally posted by Jodokast96 , but at times I've thought things are bad only because we are being told they are bad. you should chat with those people who "are doing well" and analyze those people who are "doing bad"

10-29-2009, 02:46 PM	#12
Ash Loyal Site Supporter Join Date: Mar 2007 Location: Toowoomba, Queensland Photos: Gallery \| Albums Posts: 23,920	Those who are doing bad are probably doing no differently - just bad... Those who are doing well have a lot more to lose... esp. in the stock market...

10-29-2009, 02:48 PM	#13
Gooshin Veteran Member Join Date: Sep 2007 Location: Toronto, the one in Canada. Posts: 5,610	Originally posted by Ash Those who are doing bad are probably doing no differently - just bad... Those who are doing well have a lot more to lose... esp. in the stock market... ahh.. the stock market so glad i dont have a penny in there.

10-29-2009, 02:48 PM	#14
jsherman999 Veteran Member Join Date: Dec 2007 Photos: Gallery Posts: 8,237	Originally posted by Gooshin i'm curious how many here have been seriously hit by the economy downturn. i havent "felt" economic pressure for the last 10 years, ever since i got myself "a job doing anything", but apperantly our economy has been going up and down all over the place.. what gives?? . How can you seriously say there is no noticeable downturn? We've seen the price of a S-M-C Tak 50 1.4 go from $120 to $75 in the marketplace!

10-29-2009, 02:48 PM	#15
Gooshin Veteran Member Join Date: Sep 2007 Location: Toronto, the one in Canada. Posts: 5,610	Originally posted by jsherman999 . How can you seriously say there is no noticeable downturn? We've seen the price of a S-M-C Tak 50 1.4 go from $120 to $75 in the marketplace! Well gladly i already have one so no worries