NationStates Jolt Archive


Economy shrinks by more then expected.

greed and death
29-04-2009, 18:37
http://www.msnbc.msn.com/id/30472088/


The economy shrank in the 1st quarter by 6.1%.

Now the usual blaming their politician, and claiming your politician is the only solution aside.

what do you think these numbers present as ramifications for the future ?
Farnhamia Redux
29-04-2009, 18:38
For the future, I don't know, but the NYSE reaction has the Dow up 188 points.
Eofaerwic
29-04-2009, 18:48
Wow, I thought we were doing badly with 2-odd% shrink. I could play the blame game but I'm sure lots of people better at it will.

Personally I'm interested in how this recession is going to shape the socio-political landscape in the decades to come - given it's scope we'll be feeling the after-effects long after the economies have recovered. Not just in terms of debt but also in terms of geopolitical power and economic political discourse.
Khadgar
29-04-2009, 18:50
Clearly it's Clinton's fault.
Trve
29-04-2009, 18:52
Clearly it's Clinton's fault.

And Obama's.


But, once we get it of it, it will clearly be due to the magic (yes, MAGIC) of Reaganomics.
Conserative Morality
29-04-2009, 18:54
And Obama's.


But, once we get it of it, it will clearly be due to the magic (yes, MAGIC) of Reaganomics.

So... Reagan was a witch? :wink:
Farnhamia Redux
29-04-2009, 18:55
And Obama's.


But, once we get it of it, it will clearly be due to the magic (yes, MAGIC) of Reaganomics.

Trickle down, O blessings of Wall Street, trickle down on me!
Trve
29-04-2009, 18:55
So... Reagan was a witch? :wink:

http://roddysrockinreviews.files.wordpress.com/2009/04/wikcked.jpg

The REAL Ronald Reagan.
Ring of Isengard
29-04-2009, 18:55
Meh.
Khadgar
29-04-2009, 18:58
So... Reagan was a witch? :wink:

He turned me into a newt once. I got better.
greed and death
29-04-2009, 19:06
Clearly it's Clinton's fault.

adding the culprit actually first.


And Obama's.


But, once we get it of it, it will clearly be due to the magic (yes, MAGIC) of Reaganomics.

I specifically asked for this thread not to turn into yet another my president is the only hope for the economy, your president ruined it thread.
Eofaerwic
29-04-2009, 19:08
I specifically asked for this thread not to turn into yet another my president is the only hope for the economy, your president ruined it thread.

Looks to me more like it's being turned into a Monty Python quote-fest
Conserative Morality
29-04-2009, 19:09
I specifically asked for this thread not to turn into yet another my president is the only hope for the economy, your president ruined it thread.

My president IS the economy!
greed and death
29-04-2009, 19:12
My president IS the economy!

then you don't need to mention the president's name or office, now do you? What are the ramifications of an economy shrinking this much?
what will happen to unemployment and investment ?
Conserative Morality
29-04-2009, 19:16
then you don't need to mention the president's name or office, now do you? What are the ramifications of an economy shrinking this much?
what will happen to unemployment and investment ?
Unemployment will go up, investment, down?:tongue:
greed and death
29-04-2009, 19:20
Unemployment will go up, investment, down?:tongue:

Will there be rioting in the streets and a communist revolution ??
Conserative Morality
29-04-2009, 19:23
Will there be rioting in the streets and a communist revolution ??

COME TOSVARICHI! Destroy the Bourgeois oppressors!:p
greed and death
29-04-2009, 19:25
People go wild with your speculation. will the economy continue to worsen ? Will it lead to more extreme measures than a change of voting habits ?
Will the economy rebound and the party in office become heroes?
The Parkus Empire
29-04-2009, 19:25
Looks to me more like it's being turned into a Monty Python quote-fest

Have you got anything without spam?
Lackadaisical2
29-04-2009, 19:31
People go wild with your speculation. will the economy continue to worsen ? Will it lead to more extreme measures than a change of voting habits ?
Will the economy rebound and the party in office become heroes?

It will be bad for another 2-3 quarters and then rebound leading to about 10 years of relatively decent economic growth before the next downturn, rinse and repeat.
The Black Forrest
29-04-2009, 19:39
So... Reagan was a witch? :wink:

So he was made of wood?
Farnhamia Redux
29-04-2009, 19:41
So he was made of wood?

Ever watch any of his movies?

Actually, he was a decent actor. President? I dunno.
Khadgar
29-04-2009, 19:49
So he was made of wood?

As an actor, more likely made of Ham.
Trve
29-04-2009, 19:53
As an actor, more likely made of Ham.

I see what you did there.
The Atlantian islands
29-04-2009, 20:13
It doesn't say much that a thread created to discuss the deteriorating economic climate has devolved into a let's-all-hate-on-Reagan fest . . .

Anyway, I think the economy will turn around soon. I'm guessing by the beginning/middle of 2010 things will seem much better. We'll see though. Totally dependent on what our now totally Democrat controlled government does. Ball is completely in their hands.
greed and death
29-04-2009, 20:15
It will be bad for another 2-3 quarters and then rebound leading to about 10 years of relatively decent economic growth before the next downturn, rinse and repeat.

would be a good way to cycle parties in power.
blame outgoing party for economy.
Conserative Morality
29-04-2009, 20:17
It doesn't say much that a thread created to discuss the deteriorating economic climate has devolved into a let's-all-hate-on-Reagan fest . . .

Hating on Reagan is fun.:wink:

Anyway, I think the economy will turn around soon. I'm guessing by the beginning/middle of 2010 things will seem much better. We'll see though. Totally dependent on what our now totally Democrat controlled government does. Ball is completely in their hands.
Eh, unless they really fuck things up, I'd say 2010 is a good guess for when the economy will turn around.

...

I just remembered that it was 2009. Where is my mind going?
Trve
29-04-2009, 20:38
It doesn't say much that a thread created to discuss the deteriorating economic climate has devolved into a let's-all-hate-on-Reagan fest . . .


Who is hating on Reagan? All I see is a comment made that mocks people who will give his economic policies credit even when they had nothing to do with it, and then a bunch of Montey Python quotes.

Chill man:p
Lacadaemon
29-04-2009, 20:39
Interest rates are going back up. Well off Dec. lows. I don't think any turn around can get legs with that.

Teh consumer side is fucked anyway.
Trve
29-04-2009, 20:40
Interest rates are going back up. Well off Dec. lows. I don't think any turn around can get legs with that.

Teh consumer side is fucked anyway.

Stocks have been rising a bit too. That doesnt mean much in regards to consumer spending, but theyre all signs.
United Dependencies
29-04-2009, 20:40
I hope that when we get out of this economic crisis that the american companies will not be allowed to rely on taxpayers and tarrifs for their support.
Trve
29-04-2009, 20:41
I hope that when we get out of this economic crisis that the american companies will not be allowed to rely on taxpayers and tarrifs for their support.

Or the government keeps an eye out and regulates things so what caused this mess doesnt happen again...
Daganeville
29-04-2009, 20:49
http://www.msnbc.msn.com/id/30472088/


The economy shrank in the 1st quarter by 6.1%.

Now the usual blaming their politician, and claiming your politician is the only solution aside.

what do you think these numbers present as ramifications for the future ?

Consumer spending was up some 20% or so...

I thought consumer spending was supposed to be what defines our economy?
Lacadaemon
29-04-2009, 20:53
Or the government keeps an eye out and regulates things so what caused this mess doesnt happen again...

There's not much hope of that.
Trve
29-04-2009, 20:55
There's not much hope of that.
If by 'not much hope' you mean 'virtually zero chance', I agree:p
Khadgar
29-04-2009, 21:40
Consumer spending was up some 20% or so...

I thought consumer spending was supposed to be what defines our economy?

Consumer spending usually defines the direction of our economy. So hopefully recovery is on the way.
The One Eyed Weasel
29-04-2009, 21:50
Well if they said that it wasn't that bad, and it turns out the economy shrunk that much, well they're pretty full of shit eh?

That's just my layman's take on it. I really think it's going to get a lot worse before it gets anywhere near better.
Neu Leonstein
29-04-2009, 21:56
This is as good a time as any to point out that this is an annualised rate, I suppose.

Still spectacularly shitty, but not as bad as the OP made it look...
Daganeville
29-04-2009, 22:07
Consumer spending usually defines the direction of our economy. So hopefully recovery is on the way.
the way I heard it this morning was that GDP was down 6%, consumer spending was up 20 something %, which means that businesses are going through their inventory but haven't had reason to buy new inventory. And presumably once the inventory runs out, GDP will go up again.

Personally, I think the economy is going to rebound the day the government says, "Ok these are the new rules, we will stop messing around, and you can safely rely on these new rules being stable"
greed and death
29-04-2009, 22:09
Consumer spending was up some 20% or so...

I thought consumer spending was supposed to be what defines our economy?

Gross domestic product is by convention the chief measurement of the economy.

http://features.csmonitor.com/economyrebuild/2009/04/29/silver-lining-of-shrinking-economy-consumer-spending-up/

Also the numbers I am getting only show consumer spending up 2.2%.
Which barely puts a dent in what was lost quarters 3rd and 4th of last year.
Cameroi
30-04-2009, 07:19
good, maybe it'll shrink enough around enough makiavellian necks to either put them out of the planets misery, or wake them up to what's really more important instead.
New Manvir
30-04-2009, 07:33
COME TOSVARICHI! Destroy the Bourgeois oppressors!:p

Yes Comrade, line the oppressors against the wall and let them feel the fury of the workers with your Kalashnikov!