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CNN Headline News stated that Bush may have inherited recession...
- Thread starter maluckey
- Start date
CADsortaGUY
Lifer
It's just revised GDP numbers. However I don't think they'll adjust the recession start/end dates. But what it does show is that the economy was faultering long before Bush took office.
CkG
CkG
CADsortaGUY
Lifer
DealMonkey
Lifer
If by "long before" you mean a few months, I'd agree with you there.
CADsortaGUY
Lifer
Yes - I'm talking about the July-September quarter of 2000. Which is before Bush took office to "ruin the economy".
From the article I linked to:
CkG
ReiAyanami
Diamond Member
but he put the money back in our wallets so BOOYAH!
but yeah i woulda rather had him pay down national debt or finance a bonus war instead of letting Uncle McRich buy another pair of SUVs
but yeah i woulda rather had him pay down national debt or finance a bonus war instead of letting Uncle McRich buy another pair of SUVs
DealMonkey
Lifer
I think Bush has discovered that he's "great" at spending money the gov't doesn't have! Mission accomplished! But clearly, Bush shouldn't blame others for his situation - right? That would only deepen the economic "rut" -- rather he should just spend, spend, spend his way to better fiscal health. 😉
CADsortaGUY
Lifer
Actually no - it's not really like that. Keeping more of my income is not getting "a pile of money" - it's keeping. Different perspective is all😉 It'd be more like allowing you to pay you less on your creditcard...but still not the quite the same because you made the individual choice to buy things on your card.
CkG
dmcowen674
No Lifer
12-10-2003 U.S. Agency Revises GDP Numbers for 2000
By MARTIN CRUTSINGER, AP Economics Writer
The longest economic expansion in U.S. history faltered so much in the summer of 2000 that business output actually contracted for one quarter, the government said Wednesday in releasing a comprehensive revision of the gross domestic product.
Based on new data...showed that the economy, which had been surging ahead, hit a brick wall in the summer of 2000 with growth slowing sharply, partly as a result of the bursting of the stock market bubble in early 2000.
During the last recession, U.S. output fell by 0.5 percent, slightly less than the 0.6 percent previously estimated, still making the 2001 recession one of the mildest on record in terms of lost output.
"There is no major rewriting of economic history," said Steven Landefeld, head of the Commerce Department's Bureau of Economic Analysis. "There are no significant changes to trend growth and the last recession is still mild relative to past recessions."
----------------------------------------------------------------------------------
So now you guys are blaming the Stock Market burst on Clinton too? Now the whole bunch has become a "It's not my fault and take no responsibilty"
"making the 2001 recession one of the mildest on record"
Funny, the News and Economists are only asking if now that the Stock Market is back over 10K if the Recession is over.
Sounds to me like the system (numbers used) that determines the barometer of the Economy and the Economists need to go back to the drawing board as evident by all these "Revisions" and "New" data. All very suspect and all Bullsh1t and I get a very distinct feeling I'm not the only one tired of the crap.
As written in here months ago, let's see how long and how much the Rich boys continue to flow money back into the Stock Market because they are scared of losing the power positions they hold now. This will test how deep they are willing to dig into their own pockets.
By MARTIN CRUTSINGER, AP Economics Writer
The longest economic expansion in U.S. history faltered so much in the summer of 2000 that business output actually contracted for one quarter, the government said Wednesday in releasing a comprehensive revision of the gross domestic product.
Based on new data...showed that the economy, which had been surging ahead, hit a brick wall in the summer of 2000 with growth slowing sharply, partly as a result of the bursting of the stock market bubble in early 2000.
During the last recession, U.S. output fell by 0.5 percent, slightly less than the 0.6 percent previously estimated, still making the 2001 recession one of the mildest on record in terms of lost output.
"There is no major rewriting of economic history," said Steven Landefeld, head of the Commerce Department's Bureau of Economic Analysis. "There are no significant changes to trend growth and the last recession is still mild relative to past recessions."
----------------------------------------------------------------------------------
So now you guys are blaming the Stock Market burst on Clinton too? Now the whole bunch has become a "It's not my fault and take no responsibilty"
"making the 2001 recession one of the mildest on record"
Funny, the News and Economists are only asking if now that the Stock Market is back over 10K if the Recession is over.
Sounds to me like the system (numbers used) that determines the barometer of the Economy and the Economists need to go back to the drawing board as evident by all these "Revisions" and "New" data. All very suspect and all Bullsh1t and I get a very distinct feeling I'm not the only one tired of the crap.
As written in here months ago, let's see how long and how much the Rich boys continue to flow money back into the Stock Market because they are scared of losing the power positions they hold now. This will test how deep they are willing to dig into their own pockets.
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