Originally Posted by
stdreb27
http:///forum/post/2724116
Awesome!
I love it!
First off, a smart person needs to know what he doesn't know...
You don't know anything about economics.
If your proof of a "recession" is the value of the us dollar (which I would argue isn't bad for everyone) and national debt. Then you really have no idea what a recession is.
Let me start you off with a little definition. A recession is two consecutive quarters with NO GROWTH. Find me two quarters of retraction in real gross domestic product. Tell you what I'll do your "research for you." About 3 weeks ago the BLS (do you know what that is?)
1st QTR 07 - .6%
2nd QTR 07 - 3.8%
3rd QTR 07 - 4.9%
4th QTR 07 - .6%
1st QTR 08 - 1%
2nd QTR 08 - 1.9% (prelim)
So I fail to see how we are in a recession. In fact last year we had about 2.5% growth, which is what the fed would consider sustainable growth. In fact we have not had a year of retraction since Bush has been in office!
It is like being in a swimming pull that is filling up, but the pump doesn't work well and varies how fast the water flows. And even though no water has escaped you are whining because the pool isn't filling up as fast, then saying the pool is losing water, even though every year we as a whole in america make more money than we did the year before...
Now lets get to the topic of the value of the dollar. The value of the dollar helps some people and hurts others. For instance Manufacturing has been experiencing serious growth b/c of the lower selling price overseas of American goods. It also makes investment in domestic firms more attractive aiding domestic growth. There are downsides, overseas products get more expensive. However in our case China has their currency pegged to the USD (did you know that?) so a lot of our products we've purchased haven't been affected by price. But it is a mixed bag, it helps some and hurts others.
I'll be the first to say that Bush has spent entirely too much money. You don't spend what you don't have, I'd be more than happy to attribute the decline in our yearly deficit to clinton, and ignore a republican congress shutting down the federal govt a couple times, if you're willing to attribute the doubling of gas prices to the democratically controlled congress for the past two years...
However I'll take his debt if it means it sank the Soviet Union. Which is what Reagan spend his money on...
i was just saying we are in a recession( really its an opinion because people are always going to argue over whether we are in it or not) and i was just showing how the value of the USD has dropped which does affect our economy, and as for Reagan he did use money to stop the soviets, but i think he used too much, also i thought he wasn't very Eco-friendly, but the thing that got me was that he was very sneaky, i mean iran-gate and giving weapons to Afghanistan( i know it was to help destroy the soviets but it lead to bad stuff like the talabins how osama binladin got his power) i just dont think he was that great