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| Economist says we are entering a recession; more hope and change | |
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| Tweet Topic Started: Jun 5 2016, 03:57 PM (518 Views) | |
| Pat | Jun 5 2016, 03:57 PM Post #1 |
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Fire & Ice Senior Diplomat
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It sounds like the next president gets to inherit a recession. The bad economic numbers are becoming too hard to ignore. And this coupled with near zero economic growth. http://www.breitbart.com/video/2016/06/04/kudlow-on-mays-poor-employment-report-we-are-in-a-mild-business-recession/ Economist Larry Kudlow reacted Friday on “The Steve Malzberg Show” to the Obama administrations’s poor numbers for the month of May’s jobs report, saying he believes the country is entering “a mild business recession.” “It’s been five months now and the only reason the unemployment rate fell a bit is because 458,000 people left the labor force,” Kudlow explained. “It’s not a pretty picture” he added. “I think we are in a mild business recession. “It’s not a whole economy recession, because consumers are still spending some and housing is OK, but I gotta tell ya — business recessions are always the leading indicator.” |
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| Corky52 | Jun 5 2016, 05:36 PM Post #2 |
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Fire & Ice Senior Diplomat
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Pat, Better hurry and go buy some gold certificates!
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| Brewster | Jun 5 2016, 07:37 PM Post #3 |
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Fire & Ice Senior Diplomat
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Don'tcha just love Breitbart? No matter how many times they've been proven wrong, if not outright lying, it never slows them down in their Right Wing "The Dems ae leading us over a cliff" rhetoric. They even do it when the Reps are controlling Congress, like now. And the Gullibles just keep swallowing their guff, no matter how many of Breitbart's predictions of doom and gloom never develop into anything but hot air. They must have the memory capacity of a Goldfish.' |
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| Sea Dog | Jun 5 2016, 08:02 PM Post #4 |
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I have been hearing this doom and gloom all of my life. Yet, for the average person, young or old, conditions have never been better. When I look at my kids and grandkids, their life styles and friends, I am amazed how much lifestyles have improved! No, save the tales of woe and Obama bashing for someone else, I am not buying it! |
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| Banandangees | Jun 5 2016, 09:06 PM Post #5 |
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Fire & Ice Senior Diplomat
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Opps! There goes Brew with his "source" thingy again. His best retort offer to the content. He credits Breitbart for some bias and untruthfulness. Never mind that Breitbart apparently is quoting that left leaning source of CNBC and it's "senior contributor," Larry Kudlow and not a Breitbart original at all. An example of "Brew facts." But, if it's the best you've got, then it's the best you've got. Also, Brew and Sea both refer to the left leaning source link as being "gloom and doom." That appears, from the title, as being a bit of an exaggeration, which in itself is a misleading "Brew/Sea facts." The title, in case you didn't bother to read it, is "We are in a Mild Business Recession." Hardly being worthy of reaching the level of gloom and doom I'd say. I can't believe that all Canadians are like Brew and Sea. In fact, I refuse to believe it. Although, I could be wrong. |
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| Pat | Jun 6 2016, 12:04 AM Post #6 |
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Fire & Ice Senior Diplomat
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Yes, I wonder if the two of them ever step back and ponder their posts? Breitbart like most print or internet media, compiles articles for the listeners to read. As in this example, Larry Kudlow is a very respect economist and analyst who can be viewed on CNBC Financial channel on cable. And, anybody that has watched his daily show would understand how odd Brew's statement would be when discussion something he has ascertained from research. |
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| Stoned | Jun 6 2016, 01:09 AM Post #7 |
Fire & Ice Senior Diplomat
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Economic growth per year. Not bad for climbing out of the second worst economic disaster in our history. Date Value Mar 31, 2016 3.24% Dec 31, 2015 3.12% Dec 31, 2014 3.88% Dec 31, 2013 4.05% Dec 31, 2012 3.24% Dec 31, 2011 3.64% Dec 31, 2010 4.56% |
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| Stoned | Jun 6 2016, 01:11 AM Post #8 |
Fire & Ice Senior Diplomat
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One must also note that there was absolutely no help from the Republican congresses. Like the replacement bill for Obamacare they are still working on a "jobs" bill. The next will be their first. Edited by Stoned, Jun 6 2016, 01:14 AM.
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| Stoned | Jun 6 2016, 01:33 AM Post #9 |
Fire & Ice Senior Diplomat
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Larry Kudlow. I would say he is a bit of a conservative and hasn't a great track record. Kudlow firmly denied that the United States would enter a recession in 2007, or that it was in the midst of a recession in early to mid-2008. In December 2007, he wrote: "The recession debate is over. It's not gonna happen. Time to move on. At a bare minimum, we are looking at Goldilocks 2.0. (And that's a minimum). The Bush boom is alive and well. It's finishing up its sixth splendid year with many more years to come".[19] In May 2008 he wrote: "President George W. Bush may turn out to be the top economic forecaster in the country"............................. https://en.wikipedia.org/wiki/Lawrence_Kudlow |
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| Brewster | Jun 6 2016, 01:36 AM Post #10 |
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Fire & Ice Senior Diplomat
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Pat, Ban and Thump read the stuff, but just don't get it - If Kudlow had said "mild improvement", Breitbart would never have posted the article at all... And look at what Breitbart put as their conclusion, and Pat, sucked in as usual, even emphasized:
So Breitbart, even while reporting real facts, twisted them, and Pat immediately seized upon the twist and between them they made a mild recessionary trend sound like impending doom. You guys will never learn. Pat, you've been telling us that a huge downturn is impending ever since Obama took office, and the GDP and employment numbers just keep climbing. Time is running out.. BTW Ban - CNBC is a "left leaning" source? You've got to be kidding! (Well I guess if they're not stridently Right like Breitbart, they must be "left leaning"... Correct Ban?) Edited by Brewster, Jun 6 2016, 01:40 AM.
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