Chef Jim Posted July 25, 2020 Posted July 25, 2020 On 7/23/2020 at 8:46 AM, BillStime said: I’m here to piss you off BEST DEATH CAUSING PANDEMIC EVER!!!!
ALF Posted July 26, 2020 Posted July 26, 2020 Ex-Obama adviser warns of a potential repeat of the financial crisis New York (CNN Business)Joe Biden could inherit an even more disastrous economy than Barack Obama did when he won the White House during the 2008 financial meltdown. "Whoever is coming in there in January 2021 might be facing worse conditions than in 2009, as hard as that is to believe," Austan Goolsbee, who helped guide Obama through the Great Recession, told CNN Business. Goolsbee, who chaired the president's Council of Economic Advisors in the aftermath of that crisis, is worried that the fragile economic recovery will stall if the worsening pandemic isn't quickly brought under control. This is really playing with fire. They must get the spread of the virus under control. That's what almost every other country has done." FORMER OBAMA ADMINISTRATION ECONOMIST AUSTAN GOOLSBEE "That will tank the economy -— just like it tanked it before," Goolsbee said in the interview. A worsening economy would cause countless companies and small businesses to collapse, forcing already-hurting banks to suffer massive losses. "It could cause a financial crisis," said Goolsbee, currently a professor at the University of Chicago's Booth School of Business. "We could be back into conditions like the 2008 financial crisis." https://www.cnn.com/2020/07/26/business/austan-goolsbee-coronavirus-economy-recession/index.html
B-Man Posted July 26, 2020 Posted July 26, 2020 The recession ended early in 2009, long before President Obama's policies took effect. 1 1
ALF Posted July 26, 2020 Posted July 26, 2020 (edited) 15 minutes ago, B-Man said: The recession ended early in 2009, long before President Obama's policies took effect. I won't believe that unless GG and Real Kay Adams agree with you. https://www.macrotrends.net/countries/USA/united-states/gdp-growth-rate Edited July 26, 2020 by ALF 1
keepthefaith Posted July 26, 2020 Posted July 26, 2020 4 minutes ago, ALF said: I won't believe that unless GG and Real Kay Adams agree with you. GG can provide the numbers. RKA just gives us "feelings". 1
3rdnlng Posted July 26, 2020 Posted July 26, 2020 2 hours ago, ALF said: I won't believe that unless GG and Real Kay Adams agree with you. https://www.macrotrends.net/countries/USA/united-states/gdp-growth-rate B-Man is correct. We came out of the recession in early 2009 but especially considering how deep the recession was we never had anything other than an anemic recovery, for 8 years. 8 promised "summers of recovery" that amounted to nothing more than typical Obama empty promises.
Koko78 Posted July 26, 2020 Posted July 26, 2020 2 hours ago, 3rdnlng said: B-Man is correct. We came out of the recession in early 2009 but especially considering how deep the recession was we never had anything other than an anemic recovery, for 8 years. 8 promised "summers of recovery" that amounted to nothing more than typical Obama empty promises. Yeah, but on the bright side, many of his buddies became rich under his porkulus bills, getting full funding for the 'shovel ready jobs' that didn't exist.
Buffalo_Gal Posted July 28, 2020 Posted July 28, 2020 Pent up demand still is my guess. ? This had expectations at 7%, every other article I read had the expectations at 6.5%. ?♂️ I chose this article because it wasn't "yeah but we are all gonna diiiiiiiiiieeeeee" as an intro. Durable-goods orders climb 7.3% in June as auto maker surge offsets Boeing weakness The numbers: Orders for durable goods lasting at least three years rose strongly in June for the second straight month after historic declines in the early spring, but the momentum might be hard to sustain in the wake of more coronavirus cases and somewhat tighter government restrictions. Orders climbed 7.3% last month, the government said Monday. Wall Street economists had expected a 7% increase. </snip>
Tiberius Posted July 28, 2020 Posted July 28, 2020 The GOP stimulus plan cuts the money for the regular people and pumps up the deduction for three martini lunches. The useful idiots on the right worship their corporate masters https://thehill.com/policy/finance/509210-kudlow-gop-plan-will-include-increased-business-deductions-for-meals-and 1
Chef Jim Posted July 28, 2020 Posted July 28, 2020 9 minutes ago, Tiberius said: The GOP stimulus plan cuts the money for the regular people and pumps up the deduction for three martini lunches. The useful idiots on the right worship their corporate masters https://thehill.com/policy/finance/509210-kudlow-gop-plan-will-include-increased-business-deductions-for-meals-and BEST PANDEMIC EVER!! ??? Tee many martoonies.....
ALF Posted July 30, 2020 Posted July 30, 2020 America's economy just had its worst quarter on record New York (CNN Business)The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday. Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history. A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%. The GDP drop was nearly four times worse than during the peak of the financial crisis, when GDP fell 8.4% in the fourth quarter of 2008. Quarterly GDP numbers are expressed as an annualized rate. This means that the economy didn't actually contract by a third from the first quarter to the second. The annualized rate measures how much the economy would grow or shrink if conditions were to persist for 12 months. But by either measure, the second quarter is still the worst on record. https://www.cnn.com/2020/07/30/economy/us-economy-2020-second-quarter/index.html 1
Tiberius Posted July 30, 2020 Posted July 30, 2020 8 minutes ago, ALF said: America's economy just had its worst quarter on record New York (CNN Business)The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday. Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history. A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%. The GDP drop was nearly four times worse than during the peak of the financial crisis, when GDP fell 8.4% in the fourth quarter of 2008. Quarterly GDP numbers are expressed as an annualized rate. This means that the economy didn't actually contract by a third from the first quarter to the second. The annualized rate measures how much the economy would grow or shrink if conditions were to persist for 12 months. But by either measure, the second quarter is still the worst on record. https://www.cnn.com/2020/07/30/economy/us-economy-2020-second-quarter/index.html Are you better off than you were four years ago? Asks Joe Biden 1 1
SoTier Posted July 30, 2020 Posted July 30, 2020 15 minutes ago, ALF said: America's economy just had its worst quarter on record New York (CNN Business)The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday. Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history. A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%. The GDP drop was nearly four times worse than during the peak of the financial crisis, when GDP fell 8.4% in the fourth quarter of 2008. Quarterly GDP numbers are expressed as an annualized rate. This means that the economy didn't actually contract by a third from the first quarter to the second. The annualized rate measures how much the economy would grow or shrink if conditions were to persist for 12 months. But by either measure, the second quarter is still the worst on record. https://www.cnn.com/2020/07/30/economy/us-economy-2020-second-quarter/index.html I don't think that this was unexpected, and I expect that the third quarter, July through September, will likely to be as bad or even worse as areas with high coronavirus rates now struggle to contain community spread and Covid-19 spreads to new areas like the Upper South and Midwest.
Tiberius Posted July 30, 2020 Posted July 30, 2020 1 minute ago, SoTier said: I don't think that this was unexpected, and I expect that the third quarter, July through September, will likely to be as bad or even worse as areas with high coronavirus rates now struggle to contain community spread and Covid-19 spreads to new areas like the Upper South and Midwest. Maybe this will be the tonic that gets Mitch and the other GOP Senators to do something on stimulus,
SoTier Posted July 30, 2020 Posted July 30, 2020 12 minutes ago, Tiberius said: Maybe this will be the tonic that gets Mitch and the other GOP Senators to do something on stimulus, I doubt it. I think the GOP is a prisoner of its own ideology, much as Herbert Hoover was a prisoner of his own ideology back in 1932 which made it impossible for him to effectively respond to the 1929 stock market crash. 2
SectionC3 Posted July 31, 2020 Posted July 31, 2020 On 7/26/2020 at 7:04 PM, Koko78 said: Yeah, but on the bright side, many of his buddies became rich under his porkulus bills, getting full funding for the 'shovel ready jobs' that didn't exist. Which ones and which jobs? 2 hours ago, Capco said: According to the Trumpers here, either the fault of Obama/Hillary/China and/or “winning.” frankly I’ve had enough “winning” for some time now. 1
SlimShady'sSpaceForce Posted July 31, 2020 Posted July 31, 2020 (edited) On 3/9/2020 at 2:35 PM, 3rdnlng said: Since you're a commie you probably don't have a dime yourself unless it was at first someone else's dime. ------------ That's not because of oil prices you ninny. It's because some practices in China were not healthy and China hid the outbreak from the world. BRAVO. More insults from the collective. Just like Teddy, who BTW really does belong here... But ... why doesn't he contribute? He always tells me to take it to the PPP. To your point .. not that you had one Trump has claimed credit for cheap gas priced multiple times in the last year. https://www.nbcnews.com/politics/politics-news/trump-claims-credit-cheap-gas-experts-say-it-s-not-n953626 Jan 1, 2019 - Experts said Trump can take some credit for the increased supply of gas that has driven prices lower, but that fuel economics is a hugely complex ... Then what did he do this year? He urged on RAISING the price of gas. https://www.politico.com/news/2020/04/21/trump-pledges-financial-aid-to-oil-industry-198112 https://www.nytimes.com/2020/04/13/business/dealbook/oil-price-opec-deal.html 1/3 is that good??? (sarcasm) US GDP 2Q 2020: Shrinks 32.9% Record Pace Since at Least ... www.bloomberg.com › news › articles › u-s-economy-... 23 hours ago - The U.S. economy suffered its sharpest downturn since at least the 1940s in the second quarter, highlighting how the pandemic has ravaged ... GDP shrinks by record amount in second quarter amid virus ... thehill.com › policy › finance › 509730-us-economy-s... 21 hours ago - The U.S. economy shrunk at a seasonally adjusted annualized rate of 32.9 percent during the second quarter of 2020 as the first wave of the ... Edited July 31, 2020 by SlimShady'sSpaceForce 1
Koko78 Posted July 31, 2020 Posted July 31, 2020 3 hours ago, SectionC3 said: Which ones and which jobs? https://www.factcheck.org/2011/10/obamas-solyndra-problem/ https://www.dividedstates.com/list-of-obama-failures-of-obama-as-president-numbering-at-least-1063/ https://www.breitbart.com/2020-election/2020/07/21/fact-check-joe-biden-repeats-false-claim-about-shovel-ready-jobs/ https://www.cagw.org/thewastewatcher/shovel-ready-jobs-swindle https://www.thegatewaypundit.com/2020/02/flashback-obama-admitted-787-billion-stimulus-was-utter-failure-there-was-no-shovel-ready-jobs-now-takes-credits-for-trumps-record-economy/
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