GDP Shows Surprise Drop for US in Fourth Quarter - Polidicks

[QUOTE]The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.[/QUOTE] [IMG]http://img5.imageshack.us/img5/3947/mrbill.png[/IMG] Just one more quarter of negative GDP growth and it will be an official recession. My econ professor, (Ph.D) said that the NBER (National bureau of economic research, the official group, btw) says a recession is defined as two consecutive quarters of negative GPD growth. Source: [URL]http://www.cnbc.com/id/100419252[/URL]

The US may be going for a double dip recession but if the UK gets another quarter of negative growth we will be in a triple dip recession Owned

[QUOTE=smurfy;39413841]The US may be going for a double dip recession but if the UK gets another quarter of negative growth we will be in a triple dip recession Owned[/QUOTE] MY COUNTRY HAS MORE DEBT THEN YOUR COUNTRY BEAT THAT!!!! Nana-nana boo boo, stick your head in doo doo

[QUOTE=MR-X;39413853]MY COUNTRY HAS MORE DEBT THEN YOUR COUNTRY BEAT THAT!!!! Nana-nana boo boo, stick your head in doo doo[/QUOTE] My army could beat up your army!

where about is the source?

[QUOTE=Big Dumb American;39413875]My army could beat up your army![/QUOTE] MY god has a bigger dick then your god!

Sorry, forgot the source.

It's just a 0.1 percent dip which was in part caused by slow spending due to the Fiscal Cliff, and a reduction in Military spending. Expect more of this as the United States stumbles into trying to fix its budget with a Republican House.

[QUOTE=person11;39415069]It's just a 0.1 percent dip which was in part caused by slow spending due to the Fiscal Cliff, and a reduction in Military spending. Expect more of this as the United States stumbles into trying to fix its budget with a Republican House.[/QUOTE] why do you have to point out that it's a gop house? it's not like dems are magically smarter

[QUOTE=ButtsexV3;39415246]why do you have to point out that it's a gop house? it's not like dems are magically smarter[/QUOTE] Some democrats think larger budget deficit = better economy. In the 1980s, budgets were cut on a massive scale, and some quarters reported >7% GDP growth.

The GOP House is turning the art of negotiating a budget into a hostage crisis.

[QUOTE=UziXxX;39415278]Some democrats think larger budget deficit = better economy. In the 1980s, budgets were cut on a massive scale, and some quarters reported >7% GDP growth.[/QUOTE] are you talking about the massive financialisation of our economic system during the reagan years which helped lead up to the financial collapse a few years back? yea...no thanks buddy. plus the fact that we were already recovering from a recession caused in no small part by vietnman, and reagan [i]did[/i] have us running at a pretty heavy deficit.

I like how UziXxX's avatar is the face everyone makes when reading his posts

[QUOTE=yawmwen;39416124]are you talking about the massive financialisation of our economic system during the reagan years which helped lead up to the financial collapse a few years back?[/QUOTE] Please tell me what the economic explosion that was the 1980s had to do with the mortage fraud that occured in the mid 2000s that eventually lead to implosion. [QUOTE=yawmwen;39416124]plus the fact that we were already recovering from a recession caused in no small part by vietnman[/QUOTE] The recovery didn't start until Reagan took office in 1981. The Jimmy Carter years from 1976 to 1980 are considered some of the worst, apart from Herbert Hoover. [QUOTE=yawmwen;39416124]and reagan [I]did[/I] have us running at a pretty heavy deficit.[/QUOTE] Has all presidents, but Reagan massivley increased defense (We were at the height of the cold war, remember.) and drastically cut wasteful domestic spending. They didn't [I]want[/I] to cut spending, but they had to bite the bullet and take it.

I like how all of the economy "experts" keep saying we're getting out of the recession, when we just fall further into it.

[QUOTE=bohb;39418471]I like how all of the economy "experts" keep saying we're getting out of the recession, when we just fall further into it.[/QUOTE] I recently saw someone saying how the housing market is back because it's up like 20% in Pheonix, AZ. But what people don't realize is that it was down like 200% lol

[QUOTE=UziXxX;39418458]Please tell me what the economic explosion that was the 1980s had to do with the mortage fraud that occured in the mid 2000s that eventually lead to implosion. The recovery didn't start until Reagan took office in 1981. The Jimmy Carter years from 1976 to 1980 are considered some of the worst, apart from Herbert Hoover. Has all presidents, but Reagan massivley increased defense (We were at the height of the cold war, remember.) and drastically cut wasteful domestic spending. They didn't [I]want[/I] to cut spending, but they had to bite the bullet and take it.[/QUOTE] how was the war budget considered more important than "wasteful" domestic spending?

[QUOTE=Sobotnik;39418529]how was the war budget considered more important than "wasteful" domestic spending?[/QUOTE] Because we were in the cold war. If you're not sure what that is: [URL]http://en.wikipedia.org/wiki/Cold_War[/URL] That, and you don't need stimulus spending to fix a broken economy. Reagan came in with [B]much[/B] worse economic conditions than Obama did.

[QUOTE=UziXxX;39418611]Because we were in the cold war. If you're not sure what that is: [url]http://en.wikipedia.org/wiki/Cold_War[/url][/QUOTE] But the USSR was falling apart by the 1980s. It was stagnating and rotting under the rule of 80 year old men whilst Reagan decided to massively ramp up spending. And for what? To topple some democracies? That dumb Star Wars program? Tensions got worse if anything in the early 80s. Reagan did fuck all to dismantle the USSR. [QUOTE=UziXxX;39418611]That, and you don't need stimulus spending to fix a broken economy.[/QUOTE] Erm, Reagan increased spending massively. I'm not sure how that's "making cuts".

[QUOTE=Sobotnik;39418764]But the USSR was falling apart by the 1980s.[/QUOTE] We didn't know that at the time. [QUOTE=Sobotnik;39418764]whilst Reagan decided to massively ramp up spending.[/QUOTE] Maybe this 30 second ad will clear things up. [video=youtube;KQNBNiXGMiA]http://www.youtube.com/watch?v=KQNBNiXGMiA[/video] The bear is supposed to be the USSR in this ad. [QUOTE=Sobotnik;39418764]And for what? To topple some democracies? That dumb Star Wars program?[/QUOTE] The star wars program was a hoax to fool the Russians into thinking that even if they launched nuclear war heads at us, they would be shot down. If the Russians would have called our bluff, we would have been screwed. [QUOTE=Sobotnik;39418764]Tensions got worse if anything in the early 80s. Reagan did fuck all to dismantle the USSR.[/QUOTE] [video=youtube;C-PSq2dy754]http://www.youtube.com/watch?v=C-PSq2dy754[/video] [QUOTE=Sobotnik;39418764]Erm, Reagan increased spending massively. I'm not sure how that's "making cuts".[/QUOTE] He increased [I]defense[/I] spending, and made cuts on domestic programs. It's making cuts because he cut spending on things. Its simple. Are you implying one can't increase defense spending and cut spending elsewhere?

Isn't Ronald Reagan the one that closed a bunch of public mental hospitals and threw all of the patients out on the streets?

Not sure, but by the time he was out of office in 1988 American median income had increased by 17%. He increased the standard of living by nearly 20%. Not sure I know of any other president that has ever done that.

[QUOTE=person11;39415069]It's just a 0.1 percent dip which was in part caused by slow spending due to the Fiscal Cliff, and a reduction in Military spending. Expect more of this as the United States stumbles into trying to fix its budget with a Republican House.[/QUOTE] didn't the iphone 5 launch give a .3 boost to the US GDP?

[QUOTE=UziXxX;39418860]We didn't know that at the time.[/quote] Their economy had been stagnant for decades. [quote][video=youtube;-0MqZlFL8UU]http://www.youtube.com/watch?v=-0MqZlFL8UU[/video][/quote] Ok how the fuck does this refute my point? [quote]The star wars program was a hoax to fool the Russians into thinking that even if they launched nuclear war heads at us, they would be shot down. If the Russians would have called our bluff, we would have been screwed.[/quote] Why such an expensive hoax? What about his record of heading into the third world to install dictatorships? [quote][video=youtube;C-PSq2dy754]http://www.youtube.com/watch?v=C-PSq2dy754[/video][/quote] This explains about as much as to why the USSR fell apart as this video does. [media]http://www.youtube.com/watch?v=LA0X4SliFJI[/media] [quote]He increased [I]defense[/I] spending, and made cuts on domestic programs.[/quote] Overall, did spending go up or down? Did national debt significantly increase? [quote]It's making cuts because he cut spending on things. Its simple. Are you implying one can't increase defense spending and cut spending elsewhere?[/QUOTE] I could answer this in the same manner as above, but because of your fondess of quoting politicians instead, I quote Eisenhower to make my point clear as to why increasing military expenditure at the expense of domestic is bad. [quote]Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.[/quote]

[QUOTE=Sobotnik;39419034]Their economy had been stagnant for decades.[/QUOTE] What part of "We didn't know" didn't you understand? [QUOTE=Sobotnik;39419034]Ok how the fuck does this refute my point?[/QUOTE] Because the fucking point is no one knew anything that went on behind the iron curtain. If we would have known Russian nukes were shit, that their people hated the facism, that they had no infustructure, and their economy was failing, there wouldn't have been a fucking cold war. The cold war was so scary because we [I]didn't[/I] know what the russians were planning. [QUOTE=Sobotnik;39419034]Why such an expensive hoax?[/QUOTE] The point of a hoax is that its fake. He just said we had something, that doesn't mean he invested money into developing it. [QUOTE=Sobotnik;39419034]What about his record of heading into the third world to install dictatorships?[/QUOTE] What record? Please, share with us your infinite wisdom. [QUOTE=Sobotnik;39419034]Overall, did spending go up or down? Did national debt significantly increase?[/QUOTE] Clearly you aren't understanding. He cut [U]domestic[/U] programs. Just because you increase spending on something else doesn't mean cuts weren't made.

[QUOTE=UziXxX;39419319] Because the fucking point is no one knew anything that went on behind the iron curtain. If we would have known Russian nukes were shit, that their people hated the facism, that they had no infustructure, and their economy was failing, there wouldn't have been a fucking cold war. The cold war was so scary because we [I]didn't[/I] know what the russians were planning. [/QUOTE] Have you ever heard of the concept of a spy? The US had loads of them in Russia, and vice versa; they were well informed of what happened in the other country. And no, Russia had pretty good economy and infrastructure (the trans-siberian railroad comes to mind), although the economy was fluctuating from time to time, just like the U.S. But stupid statements like "Russian nukes were shit" make my eyes hurt. Russia had a fearsome arsenal of nuclear weapons. They also had a submarines and ramps that could fire these weapons. The Americans were well aware of that. And don't ever call it a "nuke" unless you're playing Call of Duty. What does the general population's opinion about fa[b]s[/b]cism have to do with anything?

[QUOTE=UziXxX;39419319]What part of "We didn't know" didn't you understand? [B]We did, though.[/B] Because the fucking point is no one knew anything that went on behind the iron curtain. If we would have known Russian nukes were shit, that their people hated the facism, that they had no infustructure, and their economy was failing, there wouldn't have been a fucking cold war. The cold war was so scary because we [I]didn't[/I] know what the russians were planning. The point of a hoax is that its fake. He just said we had something, that doesn't mean he invested money into developing it. [B]He did, though.[/B] What record? Please, share with us your infinite wisdom. [B]Afghanistan.[/B] Clearly you aren't understanding. He cut [U]domestic[/U] programs. Just because you increase spending on something else doesn't mean cuts weren't made.[/QUOTE] [B]His point is that spending went up. Because it did. [/B]

[QUOTE=UziXxX;39419319]What part of "We didn't know" didn't you understand?[/QUOTE] [QUOTE=UziXxX;39419319]Because the fucking point is no one knew anything that went on behind the iron curtain. If we would have known Russian nukes were shit, that their people hated the facism, that they had no infustructure, and their economy was failing, there wouldn't have been a fucking cold war. The cold war was so scary because we [I]didn't[/I] know what the russians were planning.[/QUOTE] It's not like the Soviet Union was some sort of black hole from which no information could escape. The government had been aware that the Soviet's war capabilities were exaggerated for some time. [url]http://en.wikipedia.org/wiki/Missile_gap[/url] [QUOTE=UziXxX;39419319]Clearly you aren't understanding. He cut [U]domestic[/U] programs. [/QUOTE] [QUOTE=UziXxX;39419319]Just because you increase spending on something else doesn't mean cuts weren't made.[/QUOTE] The point is, you can't praise him for being a huge fiscal conservative when overall spending went up.

[QUOTE=UziXxX;39418860][video=youtube;C-PSq2dy754]http://www.youtube.com/watch?v=C-PSq2dy754[/video] [/QUOTE] I genuinely feel sorry for Americans who actually think that Reagan brought the Berlin Wall down. Like, do you really have to credit yourself on every major event possible? One thing though, the Berlin Wall was brought down by the German people themselves, no one else. It was simply a cock-up from the East German government on a televised press conference. A lot of East Berliners went apeshit when they heard that "they can go", and went to the border. The border guards were overwhelmed and doesn't want to use deadly force. [editline]31st January 2013[/editline] [QUOTE=UziXxX;39415278]Some democrats think larger budget deficit = better economy.[/QUOTE] So does the Republicans, who wants to increase defence budget today, 20 years after the Cold War. And let's remind ourselves that the previous Democrat administration created a surplus, not a deficit. [editline]31st January 2013[/editline] [QUOTE=UziXxX;39418611]Reagan came in with [B]much[/B] worse economic conditions than Obama did.[/QUOTE] Fuck off.

[QUOTE=UziXxX;39418458]Please tell me what the economic explosion that was the 1980s had to do with the mortage fraud that occured in the mid 2000s that eventually lead to implosion.[/quote] the tax cuts in capital gains helped to push forward financialization of our economic system, for one. people were no longer investing in the manufacture of goods, people began simply manipulating money through banking. [quote]The recovery didn't start until Reagan took office in 1981. The Jimmy Carter years from 1976 to 1980 are considered some of the worst, apart from Herbert Hoover.[/quote] the economic recession didn't fully hit until obama took office. does that mean the recession is caused by obama? of course not. you have to look at context from previous presidencies. have you ever thought that maybe the economy was poised to make a recovery regardless of who was president? [quote]Has all presidents, but Reagan massivley increased defense (We were at the height of the cold war, remember.) and drastically cut wasteful domestic spending. They didn't [I]want[/I] to cut spending, but they had to bite the bullet and take it.[/QUOTE] my point is reagan DRASTICALLY increased the deficit. almost as much as bush jr. did. [editline]31st January 2013[/editline] you said "some democrats thinker larger deficit = better economy" and then went on to talk about reagan. btw in the last 40 or so years democrat presidents have actually lowered or stabilized the deficit. the republican party actually is the one who increased the deficit(mostly through tax cuts aimed at the rich).