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Business
See other Business Articles

Title: Revisions Show 2007-2009 Recession Deeper Than Thought
Source: Associated Press
URL Source: http://www.telegram.com/article/201 ... 9/NEWS/110729607/1002/business
Published: Jul 29, 2011
Author: Associated Press
Post Date: 2011-07-29 11:12:15 by Brian S
Keywords: None
Views: 36003
Comments: 67

(07-29) 05:36 PDT WASHINGTON, (AP) --

The 2007-2009 recession, already in the record books as the worst in the 66 years since the end of World War II, was even worse than previously thought.

From the start of the recession at the end of 2007 to the end in June of 2009, the U.S. economy shrank 5.1 percent. That is 1 percentage point worse than the previous estimate that the recession reduced total output during that period by 4.1 percent.

The new estimates emerged from the annual revision of economic data prepared by the Commerce Department's Bureau of Economic Analysis and released Friday.

Among the previous 10 postwar recessions, output in only two dropped by more 3 percent. In the 1957-58 recession, the economy contracted 3.7 percent. And during the 1973-1975 downturn, the economy fell 3.2 percent from the start of the recession to the end.

The government attributed the bigger declines in output in part to weaker consumer spending and business investment than previously estimated.

By year, the government's new figures show that the economy took a much bigger hit in 2009, when output shrank 3.5 percent. The previous estimate had shown a decline of 2.5 percent that year.

In 2008, the new estimate shows the economy contracted by 0.3 percent. The previous estimate had indicated that output was unchanged for that year compared with 2007.

The last recession began in December 2007 and lasted until June 2009. Though the economy has been growing since then, growth has been subpar. And the unemployment rate has remained elevated; it's now 9.2 percent.

The revisions showed that growth in 2010 was a bit stronger than previously estimated. They put growth for all of 2010 at 3 percent, up from a previous estimate that the economy grew 2.9 percent last year.

The revisions to the country's gross domestic product, the total output of goods and services, used more complete data for such items as consumer and business spending.

The government's annual revisions are released each July, along with its first estimate of growth for the April-June quarter of the current year.

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#1. To: Brian S (#0)

As predicted in 2009...and it's still going to be tallied even worse...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   11:16:03 ET  Reply   Trace   Private Reply  


#2. To: war (#1) (Edited)

Since Xmas 2007.

Frontline, world's largest oil shipper

img]"www.barchart.com/cache/e8...14600ac27aa54c8dd7ccf.png

And everything tanks until PPT and the $16.1 Trillion FedRes package Mar 09.

GDP now below stall speed.

mcgowanjm  posted on  2011-07-29   11:25:39 ET  Reply   Trace   Private Reply  


#3. To: All (#2)

Elaine Supkis:

"Americans are confused. We were told, if we killed Afghani peasants in big numbers, we would be safe and free. We then were told, if we do this in Iraq and Pakistan, in Yemen and in Libya, we will be safe and our nation, secure. Instead, we are heading towards total collapse due to political hysteria coupled with our elites absolutely refusing to pay war taxes on anything! So take that, America! Bin Laden spent less than a million dollars while we spent more than a trillion in this lopsided war we are so decisively losing.

mcgowanjm  posted on  2011-07-29   11:27:16 ET  Reply   Trace   Private Reply  


#4. To: All (#3)

And it's going to get more difficult to send $3 billion a year to Israel, while US kids starve...

" July 29, 2011 -- The United States on Thursday reiterated its support for a strong military in Israel as Defense Minister Ehud Barak held talks with top leaders in Washington. Barak met separately with Secretary of State Hillary Clinton and newly installed Defense Secretary Leon Panetta. Both meetings were closed to the press, with officials offering general statements. Panetta stressed his "strong commitment" to defense relations with Israel and to "ensuring that Israel maintains its qualitative military edge," Pentagon spokesman George Little said....

mcgowanjm  posted on  2011-07-29   11:29:08 ET  Reply   Trace   Private Reply  


#5. To: Brian S (#0)

The revisions showed that growth in 2010 was a bit stronger than previously estimated. They put growth for all of 2010 at 3 percent, up from a previous estimate that the economy grew 2.9 percent last year.

LMAO!

You can't resist pushing the propaganda (marked in red, below), eh, Baghdad Bri-Bri?

Here's a dose of reality (in blue).

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-29   11:30:19 ET  (1 image) Reply   Trace   Private Reply  


#6. To: Capitalist Eric (#5)

Please explain how "SGS" came up with its "alternative".

Thanks...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   11:34:22 ET  Reply   Trace   Private Reply  


#7. To: war (#6)

Please explain how "SGS" came up with its "alternative".

It's HERE.

Knock yourself out.

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-29   13:07:42 ET  Reply   Trace   Private Reply  


#8. To: Capitalist Eric (#7)

I asked YOU to do so/. Not a link. YOU explain why we should take that graph "seriouslY"...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   14:02:55 ET  Reply   Trace   Private Reply  


#9. To: war (#8)

I asked YOU to do so/. Not a link. YOU explain why we should take that graph "seriouslY"...

This should be interesting. Let's see if mammy can do it without a cut and paste, and posting spam.

mininggold  posted on  2011-07-29   14:05:45 ET  Reply   Trace   Private Reply  


#10. To: Capitalist Eric (#7)

Your boy can't even do basic math:

Year 1950 1984 2004 Change 2004/1992
----------------------------------------

GNP (Billions of Current Dollars)
----------------------------------------
1929 103.8 103.4 104.4 +0.97%

That's actually a change of .06%

He further rests his premise on the excise of external interest payments that the US makes in measuring GDP versus GNP. That was because the interest paid on the national debt was distorting GNP UPWARD - as his own chart above shows - and thus giving an inaccurately high reading on output.

Yet, oddly, he makes the opposite claim that removing those payments were, in fact, to make GDP look MORE POSITIVE than GNP.

Your turn.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   14:19:37 ET  Reply   Trace   Private Reply  


#11. To: mininggold (#9) (Edited)

I expect this to be his response.

Since I am not a woman, I don't expect the usual misogeny that he displays towards you and LM.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   14:21:33 ET  Reply   Trace   Private Reply  


#12. To: war (#11)

I expect this to be his response.

The two Erics have apparently become quite chummy.

mininggold  posted on  2011-07-29   14:24:25 ET  Reply   Trace   Private Reply  


#13. To: war, Lucysmom (#11)

Since I am not a woman, I don't expect the usual misogeny that he displays towards you and LM.

He sees every female only for their potential return on investment as a mail order bride. And he has the nerve to say Lucysmom desires a return to slavery in the US, when 'he' practices it daily.

mininggold  posted on  2011-07-29   14:27:31 ET  Reply   Trace   Private Reply  


#14. To: war, Capitalist Eric (#10)

Your turn.

I guess you couldn't say he has the rebuttal on the 'tip of his tongue'.

mininggold  posted on  2011-07-29   14:33:23 ET  Reply   Trace   Private Reply  


#15. To: mininggold (#13)

He sees every female only for their potential return on investment as a mail order bride.

Hehehe.

Fred Mertz  posted on  2011-07-29   14:53:15 ET  Reply   Trace   Private Reply  


#16. To: mininggold (#14)

This happened the last time when he linked me to Williams' bizarre accounting of inflation.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   15:03:16 ET  Reply   Trace   Private Reply  


#17. To: war (#10)

Your boy can't even do basic math:

I'll put him up against you, or any government-sponsored economist, INCLUDING "Helicopter Ben."

Really, who are you? The answer is "nobody."

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-29   15:39:08 ET  Reply   Trace   Private Reply  


#18. To: Capitalist Eric (#17) (Edited)

Chuckles...and you're who again?

Your response was predicted...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   15:41:02 ET  Reply   Trace   Private Reply  


#19. To: war (#8)

I asked YOU to do so/.

Request denied.

YOU explain why we should take that graph "seriouslY"...

I have explained. You've demonstrated you're not interested in learning, so there's no point in explaining this further.

If you were truly interested, you'd find out for yourself. But you're not. And you won't.

End of discussion.

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-29   15:42:49 ET  Reply   Trace   Private Reply  


#20. To: war, A K A Stone (#18)

Chuckles...and you're who again?

Your better.

Your response was predicted...

Yeah... RIIIIIIIIIGHT.

Hey, Stone, why did you let this shit-bag back on your forum? Don't tell me it's for his vast intellect, or interest in learning...

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-29   15:46:38 ET  Reply   Trace   Private Reply  


#21. To: Capitalist Eric (#19)

Request denied.

Duh..

have explained. You've demonstrated you're not interested in learning, so there's no point in explaining this further.

Oh get the fuck over yourself, Erica. You haven't explained dick...for the last 10 goddam years you've been proclaiming on any website that will have you that the end of the economic world is just around the corner - just like any other random, ranting lunatic with a hallucinated calamity that is actually deep rooted in whatever psychosis grips you at the moment...

If you were truly interested, you'd find out for yourself. But you're not. And you won't...

...so now I'm taking my ball...and my bat...and my glove...and my shiney handkerchief that Mumsy gave me for my berfday and un' goin' home!!!

/drooling tool

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   15:54:17 ET  Reply   Trace   Private Reply  


#22. To: Capitalist Eric (#20)

Your[sic] better.

Boofer has the same issue with contractions.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   15:55:07 ET  Reply   Trace   Private Reply  


#23. To: war (#21)

Oh get the fuck over yourself, Erica.

You wanted an explanation, I provided you with the link. I can show you the door, YOU choose whether to walk through or not.

Your answer was "not." Your choice, and that's fine.

Quit pretending to be interested in the subject, when you clearly don't give a crap about the truth. Your agenda can be summed up in a single word: "disrupt."

Kindly ESAD.

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-29   15:58:30 ET  Reply   Trace   Private Reply  


#24. To: war (#22)

Capitalist Eric: Your[sic] better.

Dumbshit: Boofer has the same issue with contractions.

Don't know who "boofer" is, and don't really care.

The response was grammatically precise. 100%.

It is YOU that fails to grasp the English language- which surprises me not at all.

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-29   16:00:54 ET  Reply   Trace   Private Reply  


#25. To: Capitalist Eric (#23)

I provided you with the link.

And I pointed out two flaws on the first page.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   16:03:45 ET  Reply   Trace   Private Reply  


#26. To: Capitalist Eric (#24)

It is YOU that [sic] fails to grasp the English language...

Chuckles...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   16:04:27 ET  Reply   Trace   Private Reply  


#27. To: Brian S (#0)

The 2007-2009 recession, already in the record books as the worst in the 66 years since the end of World War II, was even worse than previously thought.

So where is the part about the Democrats took over as the majorities in the House and Senate in Jan 2007, and have been the ones lying about our economic growth??????

Ya think they also caused the Recession to happen instead of Bush????

When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."

CZ82  posted on  2011-07-29   16:41:24 ET  Reply   Trace   Private Reply  


#28. To: CZ82 (#27)

So where is the part about the Democrats took over as the majorities in the House and Senate in Jan 2007, and have been the ones lying about our economic growth??????

The fact that the economy was beginning to falter in 2006 had a lot to do with why they regained the Congress.

Ya think they also caused the Recession to happen instead of Bush????

Why would you? They had nothing to do with the errors of the previous 6 years...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   16:56:31 ET  Reply   Trace   Private Reply  


#29. To: war (#28)

The fact that the economy was beginning to falter in 2006 had a lot to do with why they regained the Congress.

No it didn't and you can't provide one contemporaneous source claiming it did.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-29   17:05:58 ET  Reply   Trace   Private Reply  


#30. To: CZ82 (#27)

Michigan's recession started around 2005 in large part due to extreme gasoline prices and the fall off of suv/truck sales.

Yes indeed, our recession started in large part due to Jorge's bastard invasion of Iraq and the resulting spike in oil prices.

Never swear "allegiance" to anything other than the 'right to change your mind'!

Brian S  posted on  2011-07-29   17:08:00 ET  Reply   Trace   Private Reply  


#31. To: mininggold (#13)

And he has the nerve to say Lucysmom desires a return to slavery in the US, when 'he' practices it daily.

Awhile back he recommended reading Richard M. Weaver

From Wikipedia:

Weaver's ideal society was that of the European Middle Ages, when the Roman Catholic Church gave to all an accurate picture of reality and truth (Nash 94). Nominalism emerged in the late Middle Ages, but had few adherents before the 17th century. More generally, Weaver felt that the shift from universal truth and transcendental order to individual opinion and industrialism adversely affected the moral health of Americans.

Nominalism also undermines the concept of hierarchy, which depends entirely on fundamental truths about people. Weaver, in contrast, believed that hierarchies are necessary. He argued that social, gender, and age-related equality actually undermine stability and order. Believing in "natural social groupings" (Young 112), he claimed that it should be possible to sort people into suitable categories without the envy of equality. Using the hierarchical structure of a family as an example, he pointed out that family members accept various duties grounded in "sentiment" and "fraternity," not equality and rights (Young 113). Continuing in this direction, he claimed not to understand the feminist movement, which led women to abandon their stronger connection to nature and intuition for a superficial political and economic equality with men (Young 123).

Weaver maintained that egalitarianism only promoted "[s]uspicion, hostility, and lack of trust and loyalty" (Toledano 270).

"...all of the equations in neoclassical economics are rubbish. The differential equations describe nothing. Economics is not about mathematics, it is about the human being." Sandeep Jaitly

lucysmom  posted on  2011-07-29   17:11:05 ET  Reply   Trace   Private Reply  


#32. To: war (#28) (Edited)

So where is the part about the Democrats took over as the majorities in the House and Senate in Jan 2007, and have been the ones lying about our economic growth??????

The fact that the economy was beginning to falter in 2006 had a lot to do with why they regained the Congress. Ya think they also caused the Recession to happen instead of Bush????

Why would you? They had nothing to do with the errors of the previous 6 years...

America...My Kind Of Place...

So RINOs using liberal policies (overspending and initiating more entitlement programs) didn't lead to that????

That still doesn't explain why they've been lying about our lack of economic growth???? Or was it because of what I said in the first sentence, same BS policies, same BS results!!!!! Just one has an "R" before their name and the other has a "D"......

When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."

CZ82  posted on  2011-07-29   17:36:59 ET  Reply   Trace   Private Reply  


#33. To: lucysmom, mininggold (#31)

Awhile back he recommended reading Richard M. Weaver

From Wikipedia:

You stupid, STOOOOPID woman (in BOTH screen-names)... reading about him on wiki is NOT the same as reading what HE wrote.

LOL.

No wonder you're such a ditz... easily lead around by the nose, unable to think for yourself.......

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-29   17:39:11 ET  Reply   Trace   Private Reply  


#34. To: Brian S (#30)

Michigan's recession started around 2005 in large part due to extreme gasoline prices and the fall off of suv/truck sales.

Yes indeed, our recession started in large part due to Jorge's bastard invasion of Iraq and the resulting spike in oil prices.

Michigans problems started way before then..... When you elect politicians with Liberal policies and you have a lot of unions, that's the real reason....-

When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."

CZ82  posted on  2011-07-29   17:43:28 ET  Reply   Trace   Private Reply  


#35. To: CZ82 (#34)

Partially true. The lardass repuke Gov. Engler set the table for Michigans woes.

BTW, the Michigan gov't is now controlled by the GOP including the Gov., both state houses of Congress and the Supreme Court.

Oh, did I mention that Michigan's unemployment rate for June is the highest it has been since these knuckdraggers took office?

Never swear "allegiance" to anything other than the 'right to change your mind'!

Brian S  posted on  2011-07-29   19:01:16 ET  Reply   Trace   Private Reply  


#36. To: no gnu taxes (#29)

No it didn't and you can't provide one contemporaneous source claiming it did.

I schooled you at LP over this too, asshole.

Release Date: December 12, 2006

The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.

Economic growth has slowed over the course of the year, partly reflecting a substantial cooling of the housing market. Although recent indicators have been mixed, the economy seems likely to expand at a moderate pace on balance over coming quarters.

Readings on core inflation have been elevated, and the high level of resource utilization has the potential to sustain inflation pressures. However, inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand.

Nonetheless, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Susan S. Bies; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; William Poole; Kevin M. Warsh; and Janet L. Yellen. Voting against was Jeffrey M. Lacker, who preferred an increase of 25 basis points in the federal funds rate target at this meeting.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~

You're welcome moron.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   20:16:47 ET  Reply   Trace   Private Reply  


#37. To: CZ82, go65 (#32)

So RINOs using liberal policies (overspending and initiating more entitlement programs) didn't lead to that????

The old "RINO" defense, eh?

Why is it that the GOP seems to have MORE RINOS in it than any other "thing"?

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   20:18:24 ET  Reply   Trace   Private Reply  


#38. To: Capitalist Eric (#33) (Edited)

Chuckles...does it make you feel more manly [trying] to pick on women as you do?

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   20:19:17 ET  Reply   Trace   Private Reply  


#39. To: war (#37)

So RINOs using liberal policies (overspending and initiating more entitlement programs) didn't lead to that???? The old "RINO" defense, eh?

Why is it that the GOP seems to have MORE RINOS in it than any other "thing"?

Isn't that what you call the Establishment Republicans----- RINOs, Baby Democrats, Dumbassocrats..... call them what you will, they're just like the Liberals.... not interested in doing what's right for the country just what's right for their wallets......

When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."

CZ82  posted on  2011-07-29   21:15:20 ET  Reply   Trace   Private Reply  


#40. To: war (#38) (Edited)

Chuckles...does it make you feel more manly [trying] to pick on women as you do?

Because the dummy wife he bought doesn't have sense enough to dump his ass, he thinks that that most other women are just as dumb.

mininggold  posted on  2011-07-30   0:31:58 ET  Reply   Trace   Private Reply  


#41. To: Capitalist Eric, Lucysmom (#33)

No wonder you're such a ditz... easily lead around by the nose, unable to think for yourself.......

You must be getting her mixed up with your purchased wife.

mininggold  posted on  2011-07-30   0:35:14 ET  Reply   Trace   Private Reply  


#42. To: war (#36)

That was after the election dumbass.

In fact this after election analysis was as such:

the economy seems likely to expand at a moderate pace on balance over coming quarters.

As I said, the economy had nothing to do with the 2006 election results. and you can't demonstrate otherwise.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-30   9:26:20 ET  Reply   Trace   Private Reply  


#43. To: no gnu taxes (#42)

That was after the election dumbass.

The "course of the year" of 2006 was after the election?

You "say" a lot of stupid things...this one vaulted.

Again just for you Paddy:

Economic growth has slowed over the course of the year...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   9:36:11 ET  Reply   Trace   Private Reply  


#44. To: war (#43)

The economy was not an issue with the voting public in 2006. Period.

You can't demonstrate otherwise. The closest thing you could possibly come up with is gas prices.

I'm not challenging to prove otherwise. I'm telling you you can't, with confidence.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-30   9:45:02 ET  Reply   Trace   Private Reply  


#45. To: no gnu taxes (#44)

The economy was not an issue with the voting public in 2006. Period.

Iraq and the economy were the two biggest issues in 2006 PaddyKakes...50% of the people cited the economy as less than "good"...

So go stomp your I Love Bush feet at LP.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   11:02:01 ET  Reply   Trace   Private Reply  


#46. To: war (#45)

The economy was not an issue with the voting public in 2006. Period.

Iraq and the economy were the two biggest issues in 2006 PaddyKakes...50% of the people cited the economy as less than "good"...

So go stomp your I Love Bush feet at LP.

Provide the proof and stop hand waving, dumbass.

Up until the 2006 election:

The economy was still growing.

Unemployment was under 5%.

The stock market was booming.

In fact, the deficit was lowering.

Provide some proof that the general public was dissatisfied with the economy as a reason for their votes or just admit you are full of shit and move on to your other areas of bullshit.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-30   12:25:50 ET  Reply   Trace   Private Reply  


#47. To: no gnu taxes (#46)

Provide the proof and stop hand waving, dumbass.

Exit Poll Data, Asshole...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   13:39:28 ET  Reply   Trace   Private Reply  


#48. To: war (#47)

Provide the proof and stop hand waving, dumbass.

Exit Poll Data, Asshole...

Is there some (non) proof in this exit poll data you wish to post?

You are full of shit. I know it.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-30   14:12:21 ET  Reply   Trace   Private Reply  


#49. To: no gnu taxes, war (#48)

Is there some (non) proof in this exit poll data you wish to post?

You are full of shit. I know it.

When you scroll down, the 'Importance of Economy' never fully displays and changes into Corruption/Ethics.

mininggold  posted on  2011-07-30   14:33:09 ET  Reply   Trace   Private Reply  


#50. To: no gnu taxes (#48) (Edited)

Cbuckles...50% of the people who voted claimed concern over the economy...74% stated that the US was headed in the wrong direction.

Only in the Land of Bush Flechers Over Which YOU Reign Supreme is that the economy being "not an issue with the voting public" in an election.

Feel free to post your own poll now...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   15:03:00 ET  Reply   Trace   Private Reply  


#51. To: mininggold (#49)

Shows up fine on my screen...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   15:03:32 ET  Reply   Trace   Private Reply  


#52. To: war (#51) (Edited)

Shows up fine on my screen...

I can't get the whole category to display. But if I put it on 125% I can get it to display in two parts. It looks like 82% view the economy as very or extremely important.

mininggold  posted on  2011-07-30   15:05:15 ET  Reply   Trace   Private Reply  


#53. To: Brian S (#35)

BTW, the Michigan gov't is now controlled by the GOP including the Gov., both state houses of Congress and the Supreme Court.

Oh, did I mention that Michigan's unemployment rate for June is the highest it has been since these knuckdraggers took office?

So are you saying you expect them to fix 50-60 years of Democrat damage overnight????? ROTFLMAO.......

When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."

CZ82  posted on  2011-07-30   15:15:25 ET  Reply   Trace   Private Reply  


#54. To: CZ82 (#53)

So are you saying you expect them to fix 50-60 years of Democrat damage overnight????? ROTFLMAO.......

Are you saying that Bush didn't have a totally Pubby congress for most of his term?

mininggold  posted on  2011-07-30   15:17:19 ET  Reply   Trace   Private Reply  


#55. To: mininggold (#54)

So are you saying you expect them to fix 50-60 years of Democrat damage overnight????? ROTFLMAO....... Are you saying that Bush didn't have a totally Pubby congress for most of his term?

I didn't know Bush had anything to do with running the state of Michigan?????

When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."

CZ82  posted on  2011-07-30   15:23:17 ET  Reply   Trace   Private Reply  


#56. To: CZ82 (#55)

I didn't know Bush had anything to do with running the state of Michigan?????

I was focused on the actual article. But I guess in the land of automobile manufacturing it would only be natural for the state to vote mostly Dem.

mininggold  posted on  2011-07-30   15:32:39 ET  Reply   Trace   Private Reply  


#57. To: mininggold (#52)

Only in PaddyKakes land is that insignificant.

That's the problem with worshiping Bush...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   15:52:38 ET  Reply   Trace   Private Reply  


#58. To: war (#50)

Post what you THINK shows as the PDF file will not even how up here.

Again;

Under 5% unemployment

Growing economy

Businesses were hiring

Deficit was shrinking

Wikipeodias Analysis:

__

Beginning just after George W. Bush's reelection, political analysts point to a number of factors and events that led to the eventual Republican defeat in 2006. It is generally agreed that the single most important issue during the 2006 election was the war in Iraq, and more specifically President Bush's handling of it.

Public opinion polling conducted during the days just before the election and the weeks just after it showed that the war in Iraq was considered the most important election issue by the largest segment of the public.[25] Exit polling showed that relatively large majorities of voters both fell into the category of disapproving of the war or expressing the desire to withdraw troops in some type of capacity. Both brackets broke extremely heavily for Democrats.[26] The issue of the war seemed to play a large part in the nationalization of the election, a departure from previous midterm elections, which tended to be about local, district-centric issues.[27] The effect of this was a general nationwide advantage for Democrats, who were not seen as being as tied to the war as Republicans, led by George Bush, were.

President Bush himself, seen as the leader and face of the Republican party, was a large factor in the 2006 election. Exit polls showed that a large block of the electorate had voted for Democrats or for third parties specifically because of personal opposition to or dislike for Bush. The size of the segment that said it had voted specifically to support Bush was not as large.[28] Opposition to Bush was based on a number of factors, these not limited to opposition to his Social Security plan, the slow response of his administration to Hurricane Katrina, his perceived inaction in the face of and association with rising gas prices, and as mentioned above, his continued commitment to the war.[29]

Congressional approval, which had been slightly negative since before the 2004 election, began a steady drop beginning in March 2005. Congress's unprecedented and unpopular involvement in the Terri Schiavo controversy is often pointed to as the catalyst for this drop. Congressional scandals, such as the Jack Abramoff lobbying scandal, the sentencing of Duke Cunningham to over eight years in prison, the indictment of then House majority leader Tom DeLay, the corruption of William J. Jefferson and Bob Ney, the misconduct of Cynthia McKinney, and the Mark Foley scandal all continued to pull down congressional popularity. In the months leading up to the election, congressional approval ratings flirted with all-time historical lows. Because congress was controlled by Republicans, this high disapproval affected Republicans much more negatively than it did Democrats.

Democrats were successful in portraying the congress as a lazy, greedy, egotistical and inefficient "Do-Nothing Congress." Indeed, the congress had been in session much less than previous ones had[30] (including those under Republican control), and numerous public opinion polls showed that large majorities believed that the congress had accomplished less than normal. This too, took a toll on Republicans (as the leaders of the government).

The listed scandals were all dwarfed by the highly publicised Mark Foley scandal, which broke in late September and rapidly metastasized to include the House Republican leadership. Florida Representative Mark Foley, who ironically headed the House Caucus on Missing and Exploited Children, was found to have been making sexually lewd and highly inappropriate contacts online with male congressional pages, and it was soon found that members of the Republican leadership knew in some capacity of Foley's advances, yet took little action. The scandal allowed Democrats to adopt corruption as a campaign issue, and exit polls on election day showed that corruption remained an important issue, one that Democrats held an advantage on.[31] In addition, many (at the time and after the fact) cited the scandal as an event that sealed the fate of the Republican congress.[32][33] After the election, top Republican strategist Karl Rove specifically named the Foley scandal as the cause of the Republicans' loss of congress.[34]

The result was that on election day, many congressional seats had been touched by Republican scandals and were easier to pick up for Democrats than under normal conditions. These include but are not limited to the Montana Senate, Virginia Senate, CA-11, PA-07, PA-10, TX-22, OH-18, FL-16 and NY-20 races.

Almost all of the gains made by Democrats came from large gains among independents, not Republicans. Democrats, Republicans, and independents all accounted for proportions of the electorate similar to what they did in 2004. Democrats and Republicans voted nearly as loyally for their parties in 2006 as they did in 2004, but independents exhibited a large swing towards Democrats. In 2004, independents split 49-46, slightly in favor of Democrats,[35] but in 2006 they voted 57–39 for Democrats, a fifteen point swing and the largest margin among independents for Democrats since the US 1986 Midterm elections.[36]

--

Only an idiot like you would think the economy was any kind of an issue.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-30   16:32:25 ET  Reply   Trace   Private Reply  


#59. To: no gnu taxes (#58) (Edited)

Oh geezus fuck PaddyKakes...we were on our way to a recession...you can take whatever snapshot that you want to...you can claim that you can't read the link. I could gi9ve a shit.

The economy was faltering and it was a major factor in the election...second to Iraq.

And don't quote wikipedia and expect to be taken seriously...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   19:12:52 ET  Reply   Trace   Private Reply  


#60. To: war (#59)

As I figured, you got nothing.

You do realize the economy and the stock market was booming through 2007 too.

The thing is, you know you are full of shit, but you won't admit it.

The economy had NOTHING to do with the 2006 election.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-30   19:23:43 ET  Reply   Trace   Private Reply  


#61. To: no gnu taxes (#60)

You do realize the economy and the stock market was booming through 2007 too.

Riiight...it's why the recession started in late Fall of that year...

It's why the Fed stated in December of 2006 that the economy had slowed because of the significant slowdown in housing activity.

We argued about this at LP, 50yardline and you were humiliated as EVERYTHING that I had predicted came true and EVERYTHING that you regurgitated from sucking off Bush turned out to be that...VOMIT...

Say "Good Night, PaddyKackes"...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   21:19:47 ET  Reply   Trace   Private Reply  


#62. To: war (#61)

Riiight...it's why the recession started in late Fall of that year...

Since when is December "fall", idiot.

But in fact, even at that time, there were no real economic impacts. That didn't occur for almost another year.

But all of that is besides the point you are evading, THE MID-TERM ELECTIONS OF 2006 HAD NOTHING TO DO WITH THE ECONOMY.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-30   21:44:16 ET  Reply   Trace   Private Reply  


#63. To: no gnu taxes (#62)

Since when is December "fall", idiot.

Chuckles...more of it is Fall than Winter, douche...and the data out this past week shows that it probably started 3Q 2007.

But in fact, even at that time, there were no real economic impacts.

Tell that to Bear Stearns...

You're very funny today PaddyKakes...in-laws sneak into town?

[snicker]

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-30   21:46:49 ET  Reply   Trace   Private Reply  


#64. To: war (#63)

Since when is December "fall", idiot.

Chuckles...more of it is Fall than Winter, douche...and the data out this past week shows that it probably started 3Q 2007.

But in fact, even at that time, there were no real economic impacts.

Tell that to Bear Stearns...

You're very funny today PaddyKakes...in-laws sneak into town?

The subject is what affected the average voter in the 2006 mid-term elections.

Do you have any argument that supports your position on that?

The economy was not an issue, and you can't refute that and you know it.

Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president

no gnu taxes  posted on  2011-07-30   21:56:12 ET  Reply   Trace   Private Reply  


#65. To: no gnu taxes (#64)

The economy was not an issue, and you can't refute that and you know it.

Chuckles...say "Goods Night, PaddyKakes"...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-31   8:34:15 ET  Reply   Trace   Private Reply  


#66. To: CZ82 (#32)

So RINOs using liberal policies (overspending and initiating more entitlement programs) didn't lead to that????

Since the GOP took over the House in January we've cut taxes and cut spending, meanwhile state/local governments are going through massive cuts as well.

Have you looked at 1Q and 2Q GDP?

Obviously the answer is more spending cuts and tax cuts, right?

Tagline for sale - inquire within

go65  posted on  2011-07-31   9:51:47 ET  Reply   Trace   Private Reply  


#67. To: go65 (#66)

So RINOs using liberal policies (overspending and initiating more entitlement programs) didn't lead to that???? Since the GOP took over the House in January we've cut taxes and cut spending, meanwhile state/local governments are going through massive cuts as well.

Have you looked at 1Q and 2Q GDP?

Obviously the answer is more spending cuts and tax cuts, right?

What tax cuts???? they were just tax rate extensions.......

State government cutting spending means fewer useless union parasites on the taxpayers payroll....... that's a good thing!!!!!

And the Obozocrats spending almost $2 trillion dollars on their union cronies and POS Liberal friends got us where?????

If that were the answer then the economy should be booming but it isn't, why???? Too many new restrictions on business owners, Wall street and now we have ObozoCare (another job killing Liberal entitlement program).... no wonder the country is about to be flushed down the toilet......

Here, something to use to clean your blinders......

When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."

CZ82  posted on  2011-07-31   12:41:23 ET  (1 image) Reply   Trace   Private Reply  


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