Gov’t intervention blunts recession impact
That far-left neo-Marxist rag, the Wall Street Journal, reports that the federal government’s intervention into the economy is working well:
“WASHINGTON — Government efforts to funnel hundreds of billions of dollars into the U.S. economy appear to be helping the U.S. climb out of the worst recession in decades….
Many forecasters say stimulus spending is adding two to three percentage points to economic growth in the second and third quarters, when measured at an annual rate. The impact in the second quarter, calculated by analyzing how the extra funds flowing into the economy boost consumption, investment and spending, helped slow the rate of decline and will lay the groundwork for positive growth in the third quarter — something that seemed almost implausible just a few months ago. Some economists say the 1% contraction in the second quarter would have been far worse, possibly as much as 3.2%, if not for the stimulus.
Meanwhile, U.S. Rep. Eric Cantor, the House Republican whip, wants to cancel the stimulus program as a failure.
Why does he hate America so much? What did America ever do to him?
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119 comments Add your comment
Captain Underpants
September 2nd, 2009
1:10 pm
“That far-left neo-Marxist rag, the Wall Street Journal”
LMAO!!
professional skeptic
September 2nd, 2009
1:15 pm
His hatred stems from the fact that this stimulus focused on infrastructure investment and stabilization of the financial sector, instead of additional freebie tax cuts that the neo-cons have come to feel they are entitled to.
Mrs. Godzilla
September 2nd, 2009
1:19 pm
la la la la la
Paul
September 2nd, 2009
1:22 pm
As a failure? Could it possibly be looked at as the minor part of the huge appropriation has had a beneficial impact and that the N hundreds of billions not yet spent are not necessary, that we could spend N-U and still gain the desired effect?
Rather like giving your child $1000 to fix the car, it gets running again for $100, the mechanic says for another hundred he can tweak it nicely and your kid says ‘wait a minute, you gave me a grand to spend.’
The smart strategy for Reps would be to say ‘it worked just like we thought it would. Which is why our package was closer to Pres Obama’s than was what the Democrats passed. By hundreds and hundreds of billions. And when the impact took hold we wanted to give the money back to the people, something Democrats will never do.”
Might work. We’ll see.
Paul
September 2nd, 2009
1:24 pm
Mrs. Godzilla
When Bosch shows up could you please change from “la la la la ” to “pa rum pum pum pum”? He’ll love it. Trust me on this.
I Report/ Vast White Wing Conspirator (-: You Whine )-:
September 2nd, 2009
1:26 pm
Wait until you see what happens when the bill comes due.
Some people have knowledge of foresight.
Unlike you libs.
USinUK
September 2nd, 2009
1:26 pm
Paul – 1:24 – LOL … you, my friend, are just mean
Bosch
September 2nd, 2009
1:26 pm
Oh, just in time – I’m here Paul! Don’t do it Mrs. G. You sadist. (not you Mrs. G., but Paul).
Hey Paul – did you know that all black people are taught to be racists?
GEORGE AMERICAN
September 2nd, 2009
1:28 pm
I’M GLAD WE HAD GEORGE BUSH AND DICK CHENEY IN OFFICE TO GET THE BALL ROLLIN’ ON THE SCREW UPS THE DEMOCRATIC CONGRESS – LIKE THE ECONOMY!!!
USinUK
September 2nd, 2009
1:28 pm
from the same article:
The impact in the second quarter, calculated by analyzing how the extra funds flowing into the economy boost consumption, investment and spending, helped slow the rate of decline and will lay the groundwork for positive growth in the third quarter — something that seemed almost implausible just a few months ago. Some economists say the 1% contraction in the second quarter would have been far worse, possibly as much as 3.2%, if not for the stimulus.
For the third quarter, economists at Goldman Sachs & Co. predict the U.S. economy will grow by 3.3%. “Without that extra stimulus, we would be somewhere around zero,” said Jan Hatzius, chief U.S. economist for Goldman.
Mrs. Godzilla
September 2nd, 2009
1:28 pm
would “do lang do lang do lang” be ok?
Doggone/GA
September 2nd, 2009
1:30 pm
I’m glad we had a Democratic controlled Congress to pass the bills needed to get the stimulus started, while BushCo was in power. And I’m glad that for once in his life, Bush had the sense to SIGN the da*n thing.
USinUK
September 2nd, 2009
1:30 pm
GA –
“I’M GLAD WE HAD GEORGE BUSH AND DICK CHENEY IN OFFICE TO GET THE BALL ROLLIN’ ON THE SCREW UPS ”
yes. yes, they did.
Doggone/GA
September 2nd, 2009
1:31 pm
“would “do lang do lang do lang” be ok?”
No! It’s gotta be what Paul said!
Paul
September 2nd, 2009
1:31 pm
USinUK
Never mean. That’s spiteful. This is fun stuff.
Oh, Hi Bosch!
As to your question: they are? All of them? Has anybody told them?
Personal question, if you don’t mind (keeping in mind I always taught my kids that just because someone, be they an acquaintance, friend, teacher of interviewer, asks a question, it doesn’t mean they deserve an answer) – did you trade in your pick’em up truck on the C4C program? And, BTW – I’m pleased my tax dollars could go to help someone out. Other than NYC bankers and insurance bums.
Booger Bandit
September 2nd, 2009
1:32 pm
Perhaps “Da Do Run Run Run, Da Do Run Run”
USinUK
September 2nd, 2009
1:33 pm
Paul –
“Never mean. That’s spiteful. This is fun stuff”
oh, yeah … fun for YOU … meanwhile, Bosch is lying on the floor, twitching …
Taxpayer
September 2nd, 2009
1:33 pm
GOPers Decrying “Socialized Medicine” Go To Govt. Hospital For Surgeries
Well, they all needed an extra mouth to go with that second face.
jconservative
September 2nd, 2009
1:34 pm
And savings are at a 40 year high which reduced consumer spending & further slowed the recovery. It’s amazing how the economy works.
Paul
September 2nd, 2009
1:35 pm
USinUK
Like I said, fun stuff!!!!
(ps – that’s normal for Bosch. I’m going for something else, here )
Davo
September 2nd, 2009
1:36 pm
“For the third quarter, economists at Goldman Sachs & Co…..”
Really? That’s your reliable source? If you believe that than you wouldn’t bother with a second opinion after consulting with Dr. Kevorkian.
USinUK
September 2nd, 2009
1:37 pm
jcons –
actually, they’ve fallen from their high of 5% … they’re down at 4% at the last reading …
but, just like business investment, consumers can only go so long before stuff starts breaking and need replacing … it’s going to stay low for a while, but it will start to pick up. it will take YEARS for it to get to previous levels (if ever)
Taxpayer
September 2nd, 2009
1:37 pm
Some people have knowledge of foresight.
I think someone has already asked this but what are those winning lottery numbers for the next megamillions game.
Paul
September 2nd, 2009
1:38 pm
Davo
I believe Kevorkian’s the guy they went to after they got their second or third opinion…
Bosch
September 2nd, 2009
1:38 pm
Yeah, it’s all fun and games until somebody’s twitching on the floor! LOL!!!
Paul,
No, I would never trade in the truck. I think my oldest son was conceived in that truck…(as everyone goes…….ewwwwwwwwwwwwww).
We traded in an old, and I mean old minivan. The thoughts of that piece of junk getting squashed brings such joy and happiness.
Paul
September 2nd, 2009
1:39 pm
Taxpayer
That’s something I say when I’m checking out and the clerk asks “anything else I can help you with?”
Mrs. Godzilla
September 2nd, 2009
1:39 pm
Davo
Ya’ got better sources? Let’s see ‘em.
Paul
September 2nd, 2009
1:40 pm
Bosch
Oh yeah, the Dudge! Well, she served you well. Getting better mileage now?
Doggone/GA
September 2nd, 2009
1:41 pm
“Well, they all needed an extra mouth to go with that second face”
have you ever heard when Lincoln said when he was accused of being two-faced?
USinUK
September 2nd, 2009
1:41 pm
Davo –
let’s see … you mean like IHS Global Insight? or Morgan Stanley? or Deutsche? darlin’, Goldman isn’t alone on this … but thanks for playing.
Honkin Roy
September 2nd, 2009
1:43 pm
“Shama-lama baby, shama-lama ding dong, oooo mow mow uh oh uh oh…”
USinUK
September 2nd, 2009
1:44 pm
Bosch –
1:38 – hahaha … have you told your son that story???
Davo
September 2nd, 2009
1:45 pm
“Ya’ got better sources? Let’s see ‘em.”
Not that I expect you to educate yourself…but here’s a good start.
http://www.takimag.com/blogs/peterschiff
Paul
September 2nd, 2009
1:46 pm
Hmmm. Wonder if Jay’s gonna pick up on this for Friday’s travelin’ music.
Bosch
September 2nd, 2009
1:47 pm
Paul,
I sold the Dodge to my neighbor for a dollar. This was an old minivan my mom gave us – it did serve us well for a while, but it was recently serving as little more than a lawn decoration. There is no way we’d ever have gotten 4500 dollars for that car, so yeah, thanks! To all you taxpayers out there – you helped out our family and from the Bosches to you – we all appreciate it!!!
ByteMe
September 2nd, 2009
1:49 pm
For those of you who want to see who got what and how much of the “$700 billion” is actually out there (hint: it’s not close to $700 billion), see the latest report at
http://financialstability.gov/docs/transaction-reports/transactions-report_09012009.pdf
Bosch
September 2nd, 2009
1:50 pm
USinUK,
Oh yeah – he knows. He loves the truck. You should have seen his face though when he was little and he realized that his birthday was six months after our anniversary.
Taxpayer
September 2nd, 2009
1:51 pm
have you ever heard when Lincoln said when he was accused of being two-faced?
Have you ever seen that one ugly mug that Mitch McConnell has.
Dusty
September 2nd, 2009
1:52 pm
Awwww geeee …Bookman throws a firebrand (his last two sentences) into the trash pile and the fire starts right away. By the first 15 posts we already had the absolute imperfect words reflecting the time worn twistem “Bush did it”.
Well, we could say all liberals write in parody. Et tu, boschie? Or they love repetitive posts. Or maybe its just dumb de dumb dumb. So many of the same little drummer boys and girls in Bookman’s liberal parade..
USinUK
September 2nd, 2009
1:54 pm
finally heading home – ya’ll have a good one!!
Davo
September 2nd, 2009
1:55 pm
“Awwww geeee …Bookman throws a firebrand…”
Coping behavior from lack of originality, I suspect.
Doggone/GA
September 2nd, 2009
1:55 pm
“Or they love repetitive posts”
and you, OF COURSE, always write complete and totally unique posts EVERY TIME. (the “NOT” is only implied)
USinUK
September 2nd, 2009
1:55 pm
Dusty –
before I go – I gotta tell you, you had me totally tickled last Friday … kept picturing you with a stringless ukelele, smashing it on your desk like Pete Townsend …
(and, hey, I was just agreeing with George American … is that so wrong???)
Taxpayer
September 2nd, 2009
1:57 pm
To all you taxpayers out there – you helped out our family and from the Bosches to you – we all appreciate it!!!
Just make sure you pay it back, with interest, dude. What do you think this is, a socialistic, marxistic, communistic, naziistic, stalinistic, corporatistic, everything for free because only the one richest person in the country gets taxed state or something.
Brad Steel
September 2nd, 2009
2:00 pm
Dav-tard,
Goldman Sac’s prediction vs. a online conservative magazine. Phu-leez.
Close the door when you’re trying to squeeze out your credibility.
Reform Will Happen
September 2nd, 2009
2:01 pm
New resource for documenting that Repubozos just made it up (their favorite passtime) here, from
http://mediamatters.org/ is now at a new site called Email Checker:
http://mediamattersaction.org/emailchecker/
Reform Will Happen
September 2nd, 2009
2:03 pm
Bosch–
Marcy Wheeler’s blogs and the commenters are invaluable in following just about any national political situation and she and her commenters are heavily focused on CIA, civil rights, wiretapping, Congress and what it does in depth–and they have marvelous links when it comes to finding documents or references in context to her blogs. There is serious depth there and ck. out the comments, also the legal blogs by a guy named Bmaz. Many of her commenters have their own sites, and they are high quality. She also links you on the side margin of her page to a lot of excellent blogs. The detail and her work ethic are a marvel to behold.
The Deep Dive blogs are here:
http://www.wired.com/blogs/
The ones concerned with civil liberty, law, terrorism, etc. are Danger Room and Threat Level but the science and computer ones are very good as well.
EFF is here, and they do a lot of successful litigation with the gov, and they have the only real viable wiretapping cases going now. They fight an uphill battle given that Congress and Obama have been such hypocritical wussies as to state secrets and illegal wiretapping including amnesties for whoever is your phone service and ISP, but they have had some remarkable success in making DOJ turn over documents and some current victories that make a difference. A lot of good links are on their page.
http://www.eff.org/
Mrs. Godzilla
September 2nd, 2009
2:04 pm
Davo
Oh a Ron Paul advisor…..
“”Schiff’s current investment advice is the same as it has been for years: Get your money out of the U.S. dollar and into more fundamentally sound currencies like the Swiss franc or the Singapore dollar; buy some precious metals; and buy foreign, dividend-paying stocks, with an emphasis on natural-resources companies.
Ironically, though, the year that Schiff became a star prognosticator on TV was also one of the worst periods ever for his clients. In most cases the foreign markets he likes got hit even harder than the U.S. in 2008 (Australia’s ASX 200, for instance, fell 41.3%, vs. 38.5% for the S&P 500), and even more surprising to Schiff, the U.S. dollar rallied strongly as investors rushed to the perceived safety of Treasuries. “”
Interesting reading Davo.
Scooter
September 2nd, 2009
2:05 pm
I would never trade in the truck. I think my oldest son was conceived in that truck…(as everyone goes…….ewwwwwwwwwwwwww).
Bosch, is your idea of “safe sex” closing the tailgate?
Goldie
September 2nd, 2009
2:07 pm
LOL — the Wall St. Journal is now a “Marxist rag” and George Will declared yesterday that we should cut-n-run from Afghanistan… what a topsy-turvy world for the Repubs, being in the minority where they belong!