when no other currency has been doing the same nosedive?
it should be interesting to see what rush limbaugh has been saying on the subject, since im sure ill get alot of that regurgitated from the responses.
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March 30th, 2008 at 8:18 am
an inflationary cycle. Read Alan Greenspan's book
March 30th, 2008 at 8:18 am
Just listen to ol' Bushwacker, he'll tell you the truth…..well, the truth in his world at least.
March 30th, 2008 at 8:18 am
I think I heard Bush call it a hiccup……..
March 30th, 2008 at 8:18 am
Typically a recession is measured by GDP growth being low for more than one quarter. Normally when the bea says we are in a recession it is after 2 quarters of GDP growth less than 2 percent.
March 30th, 2008 at 8:18 am
*sigh* i should have bought a few ounces of gold 18 months ago… hell i still might make a pretty penny out of it if i went for it now!
March 30th, 2008 at 8:18 am
Well in Bush's mind that is a STRONG economy.
March 30th, 2008 at 8:18 am
I got news for you. The dollar has been devaluing since 2001. It's been a steady decline, during which it has lost almost 52% of its value. Dispite what the naysayers might think, the decline in the dollar is the direct result of federal deficit spending since 2001.
March 30th, 2008 at 8:18 am
First off my money in the stock market as only lost in the past 6 months not the past 18 months, so right off the bat, you are wrong about that. The housing market has been bad for about that long of a time, but it was the lenders and stupid people that got the housing market in such a mess. The Republicans or Bush had nothing to do with it. I have been around a very long time and the economy always has it's ups and downs. Only during the great depression did people panic and that was a lot of the cause back then. By the way, a Democrat was in office during the great depression. So how do you explain that.
March 30th, 2008 at 8:18 am
A recession is marked by two consecutive quarters of negative growth in the GNP. We have not had one yet. The dollar fluctuates according to trade balances. The more we export then you will see an increase in the dollar, the more we import then the dollar drops. We are buying more than we are selling. The way to turn this trend around is quit consuming especially oil and petroleum based products.
March 30th, 2008 at 8:18 am
I call it normal. This is what our economy does once every ten years or so. If it didn't oscillate and rebound like it's supposed to, then I'd worry.
March 30th, 2008 at 8:18 am
Haha right on man. Our currency is pretty much scrap right now. It's more profitable to melt pennies down and sell them as scrap then to spend them.
March 30th, 2008 at 8:18 am
It's a recession. There haven't been two quarters of negative growth, but the growth figures are low, and they are measured in terms of dollar values, and as we all know, the dollar is worth less now, so that's the only reason why that technical qualification hasn't been met.
It's safe to say with about 20% of the nation's equity evaporating in the housing market decline alone, we are in a real recession.
The greater worry is if we will ignite an infationary cycle (they are easy to ignite, and they are difficult and painful to put out, and that pain translates into domestic political consequences–ask Paul Volker and Jimmy Carter about that). Maybe with the declines in the housing market, there will be less incentive for consumers to spend and add to the inflationary pressure? But then…, you will see the technical recession kick in.
March 30th, 2008 at 8:18 am
One has nothing to do with the other. They are two completely separate, albeit bad indicators, for our falling economy.
And I never listen to that windbag's radio show.
March 30th, 2008 at 8:18 am
Inflation.