Originally Posted By Mr X Amazing to realize that just 365 days ago things were so incredibly bleak. I'm dissatisfied with the inaction of Congress lately (particularly on health care, but also on all the dithering and stonewalling that's going on in ALL aspects of running the government!), but boy they sure did pull America out of the ditch a year ago. So kudos to President Obama and those who VOTED for the stimulus (and screw the ones that didn't, they don't care about America or her prosperity apparently). <a href="http://i173.photobucket.com/albums/w56/MyraGrozinger/021610_roadtorecovery.jpg" target="_blank">http://i173.photobucket.com/al...very.jpg</a>
Originally Posted By davewasbaloo Indeed, and here in the UK we are finally starting to pull out too (though we entered the recession 6 - 9 months later than the US). Before the stimulus, they were expecting an L shaped recession, one where the economy drops and then flatlines. Instead, we are seeing buoyancy!
Originally Posted By mawnck <--------shakes head sadly. That chart no more shows an end to our crisis than the NE blizzards showed an end to global warming. Besides, you can also ignore those last three months. They'll be revised down. They always are. That'll ruin your nice triangle.
Originally Posted By Mr X It shows marked improvement, Maw. Not to mention the markets show a significant improvement along the same lines. No, we're not "recovered" yet by any means, but at least the Obama administration took some action to stop the bleeding (it will take years, perhaps decades, in order to full recover from the Bush carnage and we all know that!).
Originally Posted By donnyaz How great will it be to get one of those stimulas jobs only to find out that who ever you work for wont have stimulas money to pay you for next year.Example most of the teachers that were kept or hired on stimulas money the districts have no idea where they are going to get the money to keep them.
Originally Posted By donnyaz I just went to the Bureau of Labor Statistics website and the graph that MR. X shows does not match the facts for the Bush administration or the Obama administration. look for yourself <a href="http://www.bls.gov/" target="_blank">http://www.bls.gov/</a> and then decide if MR. X is a liar.
Originally Posted By Dabob2 That's a big site, donny. What stats are you looking at, exactly? The graph Mr. X posted was of job losses, which is only one metric, but AFAIK is accurate.
Originally Posted By fkurucz >>How great will it be to get one of those stimulas jobs only to find out that who ever you work for wont have stimulas money to pay you for next year.Example most of the teachers that were kept or hired on stimulas money the districts have no idea where they are going to get the money to keep them.<< This is my main concern as well. We're also going to see a bump in employment as the census bureau hires over a million temporary workers over the next few months. But by late summer they'll be unemployed again. FWIW, I'm not seeing any hiring at the private sector level, just lots of layoffs. I know plenty of folks who have been jobless for over a year who tell me they have seen zero prospects. And what happens when the trillion dollar+ deficit gets "tamed". Or will the Federal Reserve keep the printing presses running until the end of time? And don't get me wrong, I want this administration to succeed and for the situation to improve. But we still have the Alt-A and commercial real estate bombs waiting to explode this year and jobs are still being offshored at a brisk pace. We were informed at work that there will be no raises (again) this year. In talking to friends who work elsewhere this is far from uncommon. Hopefully unemployment is bottoming out, but I remain skeptical at this point. Time will tell.
Originally Posted By andyll <<That chart no more shows an end to our crisis than the NE blizzards showed an end to global warming.>> I expect better from the people on LP. I know the general public sees the economy as either good or bad. I expect the more educated people that post on this board to understand that the economy consists of up/down cycles. It does matter where we are on the cycle. June 2009 we lost ~200K jobs June 2010 we lost ~320K jobs. In which month was the economy better? In June of 2009 we were heading into the biggest contraction of the economy since the great depression. In June of 2010 we were heading into one of the biggest growth quarter since WWII. If you take all the economic indicaters you will see the same trends... some bottemed out earlier and some later depending if it was a leading or lagging indicater. <<Besides, you can also ignore those last three months. They'll be revised down. >> Nov/Dec have already been revised and it was a wash.
Originally Posted By mawnck >>look for yourself <a href="http://www.bls.gov/" target="_blank">http://www.bls.gov/</a> and then decide if MR. X is a liar.<< I did. He's not: <a href="http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=CES0000000001&output_view=net_1mth" target="_blank">http://data.bls.gov/PDQ/servle...net_1mth</a> Note the (P) next to those last two numbers. That's "preliminary."
Originally Posted By snappyfun "Amazing to realize that just 365 days ago things were so incredibly bleak." Are you being sarcastic Mr.X? We have a 1.6 trillion dollar deficit just this year alone. We will still have around 9%-10% unemployment, at this time next year, and that's what the administration is now saying. Things today look as bleak or bleaker then they did a year ago and most Americans understand this, but I do admire your loyalty to the President Mr. X. I don’t know you so again are you just having fun with us?
Originally Posted By Mr X ***We have a 1.6 trillion dollar deficit just this year alone.*** Yes, the deficit is high. Slightly higher, even, than under Bush when it was 1.3 (where were you and your friends the last few years to complain about THAT?). ***We will still have around 9%-10% unemployment, at this time next year, and that's what the administration is now saying.*** Source? ***Things today look as bleak or bleaker then they did a year ago*** The facts do not support your assumption. ***most Americans understand this*** Another assumption, and hardly factual unless you believe right wing propaganda to be "fact". However, as another thread points out, a lot of Americans believe man lived together with the dinosaurs. So I'm not all that impressed with anyone claiming "most Americans believe...". ***but I do admire your loyalty to the President Mr. X.*** Hardly. As you wrote below, you DON'T know me. But there's another thread around here where I express my extreme disappointment and frustration with this administration and the Democratic Congress for getting nothing done (I believe I mentioned that in the first post here, as well). No, I'm simply giving credit where credit is due. Obama SAVED the economy from a certain train wreck, much as you wish he'd failed and can't stand the fact that the data doesn't prove you right (but you still have your truthiness, don't worry!). ***I don’t know you so again are you just having fun with us?*** This is fun?
Originally Posted By snappyfun Hi MrX, first of all to say 1.6 trillion is kind of high again makes me think you kinda pulling our legs again. Its the largest deficit in history, so its not kinda high its the biggest ever! Again its nice to see such blind loyalty for a man you don't know.
Originally Posted By snappyfun Mr X, just so you know a bit about me, I have no love for Bush, I think he was a failure as a President, I also think Obama is a failure. That's why I said I admire your loyalty. I cannot make excuses just because I voted for a guy.
Originally Posted By SingleParkPassholder "Hi MrX, first of all to say 1.6 trillion is kind of high again makes me think you kinda pulling our legs again. Its the largest deficit in history, so its not kinda high its the biggest ever! Again its nice to see such blind loyalty for a man you don't know." Maybe you can explain how Bush inherited a surplus and turned it into the 1.3 trillion deficit that Obama inherited.
Originally Posted By SingleParkPassholder "I also think Obama is a failure." After only one year and he's a failure? Brother....
Originally Posted By Mr X ***Its the largest deficit in history, so its not kinda high its the biggest ever!*** First of all, what Passholder said. At least he didn't turn a surplus into 1.3 trillion while tanking the economy in the meantime. And as for the number Obama has, you're right it's not good. But when you inherit a depression and two wars you gotta do SOMETHING about them. Turning the economy around after the Bush disaster was no mean feat. Now, if he STILL hasn't done anything about the deficit by the end of his Presidency, that'll be a different story.
Originally Posted By SingleParkPassholder No, no, no, X, in today's attention deficient society we wait A WHOLE YEAR, then we can judge Obama a faliure. This business about waiting a full term is just not 21st century.
