The Numbers Don't Lie

[Charnock]

Combine this news with the reality that our debt is skyrocketing, social security and medicare are hurting, unemployment is still hovering at or above 9%, and you have the perfect storm.

I firmly believe we never came out of the "Great Recession." Artificial life support inflated the numbers to make things look a bit better, but now we are back to square one, with another 2 trillion in debt to boot.

This is our new reality. It's more than a recession or depression. It's a fundamental shift in the American way of life.

[Charnock]

"Gross domestic product, the broadest measure of the nation's economic health, rose at an annual rate of 1.3% in the second quarter, the Commerce Department said.

While that's an increase from the revised 0.4% growth rate in the first three months of the year, it is hardly good news. The government originally reported that the economy grew at a 1.9% annualized rate in the first quarter."

http://money.cnn.com/2011/07/29/news....htm?hpt=hp_t2

[Charnock]

Odd that the government inflated the number so dramatically.

What percentage is .04 of 1.9?

That's a huge discrepancy.

[Aquila]

I believe America is irreversibly one the way to become something more like Brazil. The Conservatives will blame the Liberals and vice versa. But the truth is... we were blessed and failed to honor the one who blessed us.

[Praxeas]

Originally Posted by Charnock

Combine this news with the reality that our debt is skyrocketing, social security and medicare are hurting, unemployment is still hovering at or above 9%, and you have the perfect storm.

I firmly believe we never came out of the "Great Recession." Artificial life support inflated the numbers to make things look a bit better, but now we are back to square one, with another 2 trillion in debt to boot.

This is our new reality. It's more than a recession or depression. It's a fundamental shift in the American way of life.

Artificial life support is the Dems way of putting a bandaid on a festering wound. It did not help

[Aquila]

Originally Posted by Praxeas

Artificial life support is the Dems way of putting a bandaid on a festering wound. It did not help

I believe that both parties created this problem. They have run this country solidly into the ground.

[scotty]

Both parties have had a hand in our demise, but there was a chance to turn it around, unfortunatly when that chance offered itself the party in power failed.

[deltaguitar]

Does anyone not attribute this to a cultural shift? I realize we are in recession but I am running into a large number of people who would rather live on one income, cut expenses, save and live frugally and not chase the almighty dollar.

Could it be that people just are tired of working hard just to pay taxes and daycare?

[Aquila]

Originally Posted by scotty

Both parties have had a hand in our demise, but there was a chance to turn it around, unfortunatly when that chance offered itself the party in power failed.

I can see some truth in that. However, there have been various moments when either party could have acted and didn't.

[pelathais]

I was a teenager growing up with Jimmy Carter's "stagflation" - stagnant economy and high inflation rate. To me, this was simply "The Way the World Is..." and it was depressing. I really could not envision a world where anything could possibly be any different.

Then came Ronald Reagan. He spoke of hope and optimism. I was stuck with this defeatist mentality which was coupled with the idea that "Armageddon" was imminent as per my Dispensational theology. I just couldn't believe Reagan's optimism in light of what I "knew" the Word of God had to say... or what I thought I knew.

Then, after suffering through yet another recession which was the result of Reagan killing off inflation with high interest rates - things did begin to pick up. It was through those tough years of '81, '82 and '83 that Reagan buoyed our hopes with the refrain of "Stay the Course..." We managed to stay the course and ultimately saw the greatest peace-time economic expansion in the history of the world.

The economy follows the business cycle. Expansion-to-Over-Expansion-to-Correction. We are in a time of correction right now. We built too much and much of what we built was built with cheap easy credit. Now, we have to allow the natural contraction to happen. This wouldn't be so painful except for the fact that we incurred huge debts during the last expansion.

Lessons to be learned (which never are learned!): Live within your means. Save up for a rainy day.

My ... well, a "family member" got into the habit of downshifting my Honda and busted one of the plastic gears in the transmission. This is the same loved one who dropped my camera into the Pacific. Oh well... fortunately, we have a bit of savings set aside that will cover the rebuilt transmission. If I were the Federal Government I'd blame these setbacks on "conservatives" and simply get another credit card to pay for this. But, grown ups don't act that way. We bear one another's burdens and save when we can.

Pay with cash or a cash equivalent. Your children and grandchildren will thank you.

... just my ramblings. But, what if we became optimistic again? What if 2011 is just a repeat of 1981? Look up. Vote Republican - then hold those Republicans to their promises!