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Originally Posted by The Demon
Please show me consumer spending data from January 2009 to today. Then please explain how GDP growing is based on artificial growth/stimulus and nothing else. And finally, exports are barely up because we continue to debase the dollar. Prices have risen steadily, commodities are up, foreclosures keep increasing, etc. This is a depression.
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Go here for some info on consumer spending. The basics is that in Nov of 2010 the average consumer spending was $95 per day. That is up from $83 per day in the same month one year ago and better than the $90 per day in 2008.
For the GDP, aren't you one of the people who claim the stimulus didn't work? If so how can it then also be the only reason that the GDP has risen. I'm not an economist so I won't begin to say that I know every reason why the GDP has increased.
Here is what I know. The GDP has grown. I'm sure the stimulus had something to do with it, but I'm also pretty sure there are other reasons.
You are right, foreclosures are still up. We had about a 5-7 year period where banks sold sub-primes like wildfire. We will continue to have foreclosures until most of those toxic loans have worked their way out of the system. [/QUOTE]
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These are the same moronic mainstream economists who suggest throwing money at the problem will actually fix the problem.
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And it also includes economic researchers who do nothing but make predictions and study the economy, but make no policy. This includes ECRI who do nothing but study recessions and depressions and
according to them they say there is next to no chance of a double dip recession.
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That's not what the numbers say.
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well, actually it is what the numbers say. I never said everything is great, but things are leveling off as opposed to crashing. It doesn't mean we will never have trouble again nor does it mean that we are out of the water, but things are improving slowly.