A Burgundy and Gold Obsession
'Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies.' - Groucho Marx

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  1. #1
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    Default Jobless Claims Up, First Quarter Growth Lower Than Thought

    Come to find out, all that growth we heard being hyped just a few weeks ago (as we discussed in the thread below)

    https://www.bgobsession.com/showthread.php?t=48149

    Wasn't true at all. The numbers have since been heavily adjusted as far as GDP growth goes. Also, jobless claims have been hovering around 380,000 every single week. Many here keep saying we aren't losing as many jobs as the GOP claims, but averaging 1.5 million new jobless claims every month isn't good news, no matter how hard you spin it.

    Projected jobless numbers for this week were well off the mark again, as the economy has proven once again, as it does nearly every week, that it still continues to be worse than all the experts have been projecting.

    3 weeks ago, it was projected that the first quarter GDP growth would be over 3.5% and jobless claims would drop. Instead, the first quarter GDP was only 1.9%, and we are at a 5 week high for jobless claims.

    Hopefully people will remember these miserable 4 years when they go to the polls in November. Unfortunately, Americans tend to have sort memories, and are generally oblivious. That gives Obama the chance to continue to run the country into the ground until about October, then pull a rabbit out of his hat and sway opinions to get reelected, then spend 4 more years completing his journey of crippling the United States.

    But, I'm sure the delirious Liberals around the country will continue to blame Bush, and spin it to sound like all of this is a good thing while completely deflecting blame.
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    Ex...as I tried to point out in a previous thread - from 2008 to 2011 there has been a drop of 13 million tax returns filed. No matter how you cut it...that it is not symptomatic of an improving economy. we can get into technical aspects of how unemloyment stats are being manipulated on a definitional basis later (which I know you are aware of).

    It should be obvious that beyond domestic anti-business rhetoric and regulation...events in Europe are going to have growth impacts over the next several years.
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    Ex, do you have a link for your stats?
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    http://finance.yahoo.com/news/weekly...123303359.html

    http://finance.yahoo.com/news/u-stoc...140821248.html


    Got a feeling that 2H12 is going to be a real downer for the economy.
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    Quote Originally Posted by Lanky Livingston View Post
    Ex, do you have a link for your stats?
    http://lmgtfy.com/?q=What+was+the+Un...sed+down+to%3F
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    No, I'm not going to Google YOUR stats to verify YOUR thread. That's ludicrous.
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  7. #7
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    They aren't my stats, only the government can take credit for those horrid stats.
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    Quote Originally Posted by Extreme View Post
    They aren't my stats, only the government can take credit for those horrid stats.
    sometimes the horse has to be led to water. but you can't make it drink!

    but...let's be honest....things have never been better! the economy is improving! whatever problems exist? they're bush's fault! this recording will repeat every five seconds......

    but....let's be honest.........
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    Quote Originally Posted by fansince62 View Post
    sometimes the horse has to be led to water. but you can't make it drink!

    but...let's be honest....things have never been better! the economy is improving! whatever problems exist? they're bush's fault! this recording will repeat every five seconds......

    but....let's be honest.........


    Sometimes a horse just needs to be put down

    Amongst all this misery and seeing my country crumble around me, I forgot how great things are. Good thing Bush isn't in office anymore

    4 MORE YEARS!!! 4 MORE YEARS!!!!! 4 MORE YEARS!!!!
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    This just in - unemployment rate has gone back up to 8.2%, after Obama and his cronies spent the last month talking about how wonderful it is, and after his campaign spent millions on an advertising blitz about job growth BWAHAHAHAHA! Him and Biden should look funny standing there together, each with a foot in their mouth lol.
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    I don't think it is good to laugh about it. These are real people. These are people who are hurting in many ways. It's our friends, neighbors, loved ones, and in some cases, our family.

    I've said it before in here and I'll say it again. We are in far different times than a few years ago and this recession goes back many years. I'm not sure if we can truly recover from it. The current obligations will push our debt beyond the $200 trillion mark in thirty to forty years. That is not sustainable and the day of reckoning could be coming sooner rather than later.
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    Quote Originally Posted by Burgundy Burner View Post
    I don't think it is good to laugh about it. These are real people. These are people who are hurting in many ways. It's our friends, neighbors, loved ones, and in some cases, our family.
    Yeah, I don't find any humor in the misfortune of others either.

    United airlines released a memo this week saying they are going to cut an additional 1300 jobs, in response to the decision to expand Hobby airport to include international flights. Its really sad...some of these people have been with Continental since forever, and then made the switch when that awful merger went through.

    I've said it before in here and I'll say it again. We are in far different times than a few years ago and this recession goes back many years. I'm not sure if we can truly recover from it. The current obligations will push our debt beyond the $200 trillion mark in thirty to forty years. That is not sustainable and the day of reckoning could be coming sooner rather than later.
    A LOT can happen in 30-40 years, like for instance, The Zombie Apocalypse.

    The recession does go back awhile - for example, this is the strongest May job report in 5 years, and 4th strongest in a decade. Which shows how weak the job market is right now. However, there are some positive signs, despite all the Obama bashers who insist the world is ending.
    Last edited by Lanky Livingston; 06-01-12 at 09:53 AM.
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    Quote Originally Posted by Extreme View Post
    They aren't my stats, only the government can take credit for those horrid stats.
    Your thread, your stats. Its the SOP on message boards since Al Gore invented the internet...provide a link to back up your stats. Not really sure why this is a new concept for you.
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    Pretty interesting article here slamming Obama's campaigning measures to date:

    The disclaimers are more than a little disingenuous, since Mr Obama often does seem to suggest that financiers are greedy wreckers from whom America’s economy must be saved. But that aside, and in spite of the Republicans’ bluster, his rhetoric is hardly illegitimate or extreme. America’s middle class is struggling. Median incomes are stagnant, while the rich have been getting richer. It is easy to argue that the average Joe is not getting a fair shake—or at least not the same shake he used to. The question is whether voters care most about that, or whether they simply want to see the economy humming again, equitably or not.

    In that case, the election will revolve not around fairness, but competence. Mr Romney is fond of saying that Mr Obama has no idea how the economy works and how jobs are created. The way the Obama campaign talks about Bain Capital suggests that his criticism is correct. Mr Obama, as noted above, likes to insinuate that there is a conflict between pursuing profits and creating jobs. In the long run, however, in a competitive economy, that is nonsense. Only profitable firms can sustain any jobs, and the more profitable they are, the more money they have to invest in new ventures with new workers. Mr Obama is guilty not of rhetorical excess but of economic muddle. That is far more worrying.
    http://www.economist.com/node/215562...aroverclasswar
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    Quote Originally Posted by Burgundy Burner View Post
    I don't think it is good to laugh about it. These are real people. These are people who are hurting in many ways. It's our friends, neighbors, loved ones, and in some cases, our family.
    Um, I am these people. I haven't had a job for 2 years now. It's miserable to be plenty qualified and never even get an interview. I can laugh, because I have been preaching about how Obama spewing about how wonderful life is and how much better things are getting are all lies, and this is just further confirmation of that truth.

    I also find it funny that people with good jobs who are comfortable and unaware of how truly horrible it is for people like me, are the ones constantly preaching the Obama sound bites of how things are turning around. They aren't turning around, they suck just as bad now as they have for years.

    Quote Originally Posted by Lanky Livingston View Post
    United airlines released a memo this week saying they are going to cut an additional 1300 jobs
    Sorry, but I don't have empathy for another unionized company running their operation into the ground at the expense of their employees. Not as long as the unions keep getting their way and union members keep supporting their con jobs, especially when this and bankruptcy are almost always the end result.

    Quote Originally Posted by Lanky Livingston View Post
    The recession does go back awhile - for example, this is the strongest May job report in 5 years, and 4th strongest in a decade. Which shows how weak the job market is right now.
    I was unaware that Twitter was a valid source for news. I'm not saying whether it is or not, because I don't use it, I just never saw anyone link Twitter to validate anything before.

    Quote Originally Posted by Lanky Livingston View Post
    However, there are some positive signs, despite all the Obama bashers who insist the world is ending.
    And despite all the Obama puppets, that is not indicative of reality. In 2011, tax codes changed. Those changes gave the average American family way more money on their tax returns (some reports suggest double in a lot of cases) and since those families had more money than they normally did, and the spending in April reflected that. It isn't coincidental. Wait until the Summer spending reports come out and show how down spending and vacations were before suggesting things are improving based off a one month skewed stat where the increase in tax returns was not even mentioned, even though it was the sole cause of the increased spending. It's leftist propaganda. You know, the kind where they don't let facts and truth get in the way of a good story.

    Quote Originally Posted by Lanky Livingston View Post
    Your thread, your stats. Its the SOP on message boards since Al Gore invented the internet...provide a link to back up your stats. Not really sure why this is a new concept for you.


    Not really sure why showing members respect instead of the constant pot shots and snide remarks is a tough concept for you to grasp. Save the rhetoric of acting like you're misunderstood, nobody buys it. There is no way every member of this board takes what you say the wrong way, most just don't address it publicly. But I've tried privately and it doesn't work. We aren't children, it's easy to read between the lines. You believe I'm an idiot. I would appreciate if you would have the balls and just call me an idiot instead of beating around the bush. It wouldn't offend me the way implying I'm an idiot and disguising it in hope that I won't be able to see it through your clever wording and your superior intellect does.
    Last edited by Nobody; 06-01-12 at 11:18 AM.
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  16. #16
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    Quote Originally Posted by Goaldeje View Post
    Pretty interesting article here slamming Obama's campaigning measures to date:



    http://www.economist.com/node/215562...aroverclasswar
    The thing that never made sense to me about arguments like the one posed in this article, is that it's completely contradictory. Obama says the rich make too much money. Then he acknowledges that companies have to make more money and be more profitable to create more jobs. So why then, does he think that penalizing the rich job creators, thereby giving them less money for their efforts, is good for job creation? It's the dumbest logic I've ever heard anyone use. How does the middle class benefit from the rich being taxed so heavily? It's not like they plan on issuing checks from the taxes taken in from these increases, and giving them to the poor.

    This kind of profoundly stupid logic is equivalent to sending a fire department to a fire with a truck full of gasoline, with the logic that since it's wet, eventually the fire will go out if you douse it hard enough.
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    Well, I'm glad we can have an unbiased discussion on this board.
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    I have yet to hear a cogent argument on WHY the economy is improving...beyond definitional trickery, of course.

    cant' wait for those massive tax increases CY 13!!!

    but..I suppose labeling something as Obama bashing substitutes for economic argument in some quarters.
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    Quote Originally Posted by Extreme View Post
    I was unaware that Twitter was a valid source for news. I'm not saying whether it is or not, because I don't use it, I just never saw anyone link Twitter to validate anything before.
    I wasn't linking to Twitter, I was linking to a statement from Morgan Housel, who works for The Motley Fool. Twitter is only the avenue he used to make the statement. And Twitter is the most prevalent and timely news outlet there is today, just FYI.
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    Lanky, it isn't about being partisan, you're just trying to make it that way. The current topic is a bad economy and rising unemployment. Not sure what that has to do with Bush. Obama is in office now, let it go. It's been 4 years. You gave him credit when it was going down, give him credit when it goes up.
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