The economy is STILL growing!!!!!!!!!! What happened to the recession???

[First]

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

 

[alien42]

Originally posted by: alien42
in just the past 24 hours...

Microsoft announced 5000 layoffs over the next 18 months.

Harley Davidson annnounced 1100 layoffs over the next two years

Schlumberger announced 5000 layoffs worldwide

this 'mental recession' is a real bummer.

another 24 hours of layoffs...

Sprint Nextel announced 8000 layoffs.

Home Depot announced 7000 layoffs.

Caterpillar announced 20,000 layofs

http://www.fool.com/investing/...-year-youre-fired.aspx

 

[UNCjigga]

Wow, and Q4 Earnings Week is just getting started! I bet we here of more "damage control" (i.e. layoffs) as CEOs try to justify their pay in light of lower-than-expected earnings.

 

[jman19]

Originally posted by: Evan

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

Text

 

[eleison]

Originally posted by: jman19

Originally posted by: Evan

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

Text

Before Obama won the election, it was debatable if we were in a recession... many bipartisan economics professors/experts were not sure... now Obama (the "I am going to bankrupt companies" canidate won), there has been a decline in GPD and an increase in unemployment... so yea.. this thread is epic.. almost as epic as the Obama administration gonig to be.. set sail for fail.. here we come... If you hate big company... or any companies at all, you must be enjoying it right now.

 

[BarneyFife]

Originally posted by: eleison

Originally posted by: jman19

Originally posted by: Evan

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

Text

Before Obama won the election, it was debatable if we were in a recession... many bipartisan economics professors/experts were not sure... now Obama (the "I am going to bankrupt companies" canidate won), there has been a decline in GPD and an increase in unemployment... so yea.. this thread is epic.. almost as epic as the Obama administration gonig to be.. set sail for fail.. here we come... If you hate big company... or any companies at all, you must be enjoying it right now.

The only people that couldn't see bad times were coming were the same people who think Bush was a great president.

 

[Robor]

Originally posted by: eleison

Originally posted by: jman19

Originally posted by: Evan

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

Text

Before Obama won the election, it was debatable if we were in a recession... many bipartisan economics professors/experts were not sure... now Obama (the "I am going to bankrupt companies" canidate won), there has been a decline in GPD and an increase in unemployment... so yea.. this thread is epic.. almost as epic as the Obama administration gonig to be.. set sail for fail.. here we come... If you hate big company... or any companies at all, you must be enjoying it right now.

Yep. It's all Obama's fault. He's had 10 days to fix it. Start impeachment.

 

[Elias824]

Originally posted by: eleison

Originally posted by: jman19

Originally posted by: Evan

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

Text

Before Obama won the election, it was debatable if we were in a recession... many bipartisan economics professors/experts were not sure... now Obama (the "I am going to bankrupt companies" canidate won), there has been a decline in GPD and an increase in unemployment... so yea.. this thread is epic.. almost as epic as the Obama administration gonig to be.. set sail for fail.. here we come... If you hate big company... or any companies at all, you must be enjoying it right now.

Im pretty sure we were officially in a recessions before Obama got into office. Either way the media blows everything out of proportions for ratings, whoever says this is the worst slowdown since the depression is an idiot.

 

[NeoV]

have to bump this one when I see it...

 

[Jessica69]

Originally posted by: Robor

Originally posted by: eleison

Originally posted by: jman19

Originally posted by: Evan

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

Text

Before Obama won the election, it was debatable if we were in a recession... many bipartisan economics professors/experts were not sure... now Obama (the "I am going to bankrupt companies" canidate won), there has been a decline in GPD and an increase in unemployment... so yea.. this thread is epic.. almost as epic as the Obama administration gonig to be.. set sail for fail.. here we come... If you hate big company... or any companies at all, you must be enjoying it right now.

Yep. It's all Obama's fault. He's had 10 days to fix it. Start impeachment.

Exactly. Seems eleison's been listening to a little too much Rush....and I don't mean the band.

CBO officially put the start of the recession in Jan. 2007, so sure, Obama was responsible for that, too. And while there was GDP growth the first two quarters of 2008, Q3 GDP growth was flat and Q4 2008 GDP shrank 3.8%. Yep, Obama, before he even took office is responsible for those two quarters, too, according to RL.

And I guess Obama is also responsible for Japan's industrial production dropping 9.6% in Dec. 2008.........and that Honda's gross income for Q3 2008 dropped 90% and will lose money for 2008 as a whole, or that NEC just announced today a 20,000 person layoff or Hitachi is shedding 7,000 jobs this year.

Yep.....nothing like Obama......caused everything that we're experiencing in the world and has been in office 10 days. Damn powerful man to do that......and GWB managed to do absolutely no wrong between Clinton and Obama.....nothing at all is his responsibility.

Yeppers......

 

[BarneyFife]

Caterpillar announced an additional 2110 layoffs today.

 

[heyheybooboo]

I think the shat hit the fan in August, 2007, when interbank lending froze and central banks started their gyrations thru the 2H07. Nominal GDP for 2007 was $13,807.5 trillion - Projections for 2008 started at $14,400+. From what I've seen for 2008 Nominal GDP may retract -1%+ versus 2007.

That would be truly Craptacular.

Read it and Weep from the Commerce Dept Bureau of Economic Analysis - 1/30/2009

 

[jman19]

Originally posted by: eleison

Originally posted by: jman19

Originally posted by: Evan

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

Text

Before Obama won the election, it was debatable if we were in a recession... many bipartisan economics professors/experts were not sure... now Obama (the "I am going to bankrupt companies" canidate won), there has been a decline in GPD and an increase in unemployment... so yea.. this thread is epic.. almost as epic as the Obama administration gonig to be.. set sail for fail.. here we come... If you hate big company... or any companies at all, you must be enjoying it right now.

Obama wasn't president in 4Q08 you dolt.

 

[theeedude]

http://www.bloomberg.com/apps/...uR4C4k&refer=worldwide

Big GDP drop.

 

[kstu]

Originally posted by: eleison
Before Obama won the election, it was debatable if we were in a recession... many bipartisan economics professors/experts were not sure... now Obama (the "I am going to bankrupt companies" canidate won), there has been a decline in GPD and an increase in unemployment... so yea.. this thread is epic.. almost as epic as the Obama administration gonig to be.. set sail for fail.. here we come... If you hate big company... or any companies at all, you must be enjoying it right now.

This has to be a joke, right?

 

[0marTheZealot]

This thread makes me laugh every time I see the title.

 

[alien42]

so Prof John, how is that growing economy and mental recession going for you?

 

[alien42]

Originally posted by: eleison

Originally posted by: jman19

Originally posted by: Evan

Originally posted by: jman19
This thread is an enduring reminder of the failure that is PJ.

Text

Before Obama won the election, it was debatable if we were in a recession... many bipartisan economics professors/experts were not sure... now Obama (the "I am going to bankrupt companies" canidate won), there has been a decline in GPD and an increase in unemployment... so yea.. this thread is epic.. almost as epic as the Obama administration gonig to be.. set sail for fail.. here we come... If you hate big company... or any companies at all, you must be enjoying it right now.

you can not seriously be that stupid, GWB was still President in the 4th Q.

 

[KB]

Originally posted by: 0marTheZealot
This thread makes me laugh every time I see the title.

Me too.

Anyone seen PJ? Did he apologize for this thread yet?

 

[her209]

Originally posted by: 0marTheZealot
This thread makes me laugh every time I see the title.

This!

 

[Fern]

Originally posted by: KB

Originally posted by: 0marTheZealot
This thread makes me laugh every time I see the title.

Me too.

Anyone seen PJ? Did he apologize for this thread yet?

C'mon people, this is stupid.

This thread was created in August '08, at that time GDP was increasing:

The gross domestic product, the broadest measure of the nation's economic activity, grew at an annual rate of 1.9% in the three months ended in June. That's up from a revised 0.9% growth rate in the first quarter.

He was right about his 3rd and 4th quarter predictions too. His 2009 prediction remains to be seen.

Fern

 

[JSt0rm]

This thread is just a reminder of how bad the neocon conservative got it. They made more mistakes then probably any of political ideology since fascism.

 

[jman19]

Originally posted by: Fern

Originally posted by: KB

Originally posted by: 0marTheZealot
This thread makes me laugh every time I see the title.

Me too.

Anyone seen PJ? Did he apologize for this thread yet?

C'mon people, this is stupid.

This thread was created in August '08, at that time GDP was increasing:

The gross domestic product, the broadest measure of the nation's economic activity, grew at an annual rate of 1.9% in the three months ended in June. That's up from a revised 0.9% growth rate in the first quarter.

He was right about his 3rd and 4th quarter predictions too. His 2009 prediction remains to be seen.

Fern

Oh please, PJ was talking about how this is a mental recession... not even close. Anyone who reads P&N knows PJ just made this thread to try and blow some sunshine up our collective ass.

 

[Fern]

Originally posted by: jman19
-snip-
Oh please, PJ was talking about how this is a mental recession... not even close. Anyone who reads P&N knows PJ just made this thread to try and blow some sunshine up our collective ass.

Mental recession?

I think to some extent it is.

Consumer confidence gets driven down - people stop buying and start saving - companies sell fewer products - people get laid off - home mortgage defaults - banks stop lending etc.

Vicious circle. (Yeah, the housing bubble was gonna burst and cause some pain, but this 'hunker down' mentality is killing us now)

IMO, we're not gonna get out of this mess until people's confidence returns.

Fern

 

[heyheybooboo]

Originally posted by: Fern

Mental recession?

I think to some extent it is.

You might want to rethink this one, Fern - it's almost sig worthy

3 million jobs lost in the last year, banks functionally insolvent, house values falling, retirement accounts smashed ....

What's really ugly about the GDP numbers out today is that the massive decline includes the massive uptick in gov't spending.

Without the massive Federal spending the numbers would really be oogly ...