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Title: Revisions Show 2007-2009 Recession Deeper Than Thought
Source:
Associated Press
URL Source: http://www.telegram.com/article/201 ... 9/NEWS/110729607/1002/business
Published: Jul 29, 2011
Author: Associated Press
Post Date: 2011-07-29 11:12:15 by Brian S
Keywords: None
Views: 38190
Comments: 67
(07-29) 05:36 PDT WASHINGTON, (AP) -- The 2007-2009 recession, already in the record books as the worst in the 66 years since the end of World War II, was even worse than previously thought. From the start of the recession at the end of 2007 to the end in June of 2009, the U.S. economy shrank 5.1 percent. That is 1 percentage point worse than the previous estimate that the recession reduced total output during that period by 4.1 percent. The new estimates emerged from the annual revision of economic data prepared by the Commerce Department's Bureau of Economic Analysis and released Friday. Among the previous 10 postwar recessions, output in only two dropped by more 3 percent. In the 1957-58 recession, the economy contracted 3.7 percent. And during the 1973-1975 downturn, the economy fell 3.2 percent from the start of the recession to the end. The government attributed the bigger declines in output in part to weaker consumer spending and business investment than previously estimated. By year, the government's new figures show that the economy took a much bigger hit in 2009, when output shrank 3.5 percent. The previous estimate had shown a decline of 2.5 percent that year. In 2008, the new estimate shows the economy contracted by 0.3 percent. The previous estimate had indicated that output was unchanged for that year compared with 2007. The last recession began in December 2007 and lasted until June 2009. Though the economy has been growing since then, growth has been subpar. And the unemployment rate has remained elevated; it's now 9.2 percent. The revisions showed that growth in 2010 was a bit stronger than previously estimated. They put growth for all of 2010 at 3 percent, up from a previous estimate that the economy grew 2.9 percent last year. The revisions to the country's gross domestic product, the total output of goods and services, used more complete data for such items as consumer and business spending. The government's annual revisions are released each July, along with its first estimate of growth for the April-June quarter of the current year.
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#1. To: Brian S (#0)
As predicted in 2009...and it's still going to be tallied even worse...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Since Xmas 2007. Frontline, world's largest oil shipper img]"www.barchart.com/cache/e8...14600ac27aa54c8dd7ccf.png And everything tanks until PPT and the $16.1 Trillion FedRes package Mar 09. GDP now below stall speed.
Elaine Supkis: "Americans are confused. We were told, if we killed Afghani peasants in big numbers, we would be safe and free. We then were told, if we do this in Iraq and Pakistan, in Yemen and in Libya, we will be safe and our nation, secure. Instead, we are heading towards total collapse due to political hysteria coupled with our elites absolutely refusing to pay war taxes on anything! So take that, America! Bin Laden spent less than a million dollars while we spent more than a trillion in this lopsided war we are so decisively losing.
And it's going to get more difficult to send $3 billion a year to Israel, while US kids starve... " July 29, 2011 -- The United States on Thursday reiterated its support for a strong military in Israel as Defense Minister Ehud Barak held talks with top leaders in Washington. Barak met separately with Secretary of State Hillary Clinton and newly installed Defense Secretary Leon Panetta. Both meetings were closed to the press, with officials offering general statements. Panetta stressed his "strong commitment" to defense relations with Israel and to "ensuring that Israel maintains its qualitative military edge," Pentagon spokesman George Little said....
LMAO! You can't resist pushing the propaganda (marked in red, below), eh, Baghdad Bri-Bri? Here's a dose of reality (in blue). It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
Please explain how "SGS" came up with its "alternative". Thanks...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
It's HERE. Knock yourself out.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
I asked YOU to do so/. Not a link. YOU explain why we should take that graph "seriouslY"...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
This should be interesting. Let's see if mammy can do it without a cut and paste, and posting spam.
Your boy can't even do basic math: Year 1950 1984 2004 Change 2004/1992 GNP (Billions of Current Dollars) That's actually a change of .06% He further rests his premise on the excise of external interest payments that the US makes in measuring GDP versus GNP. That was because the interest paid on the national debt was distorting GNP UPWARD - as his own chart above shows - and thus giving an inaccurately high reading on output. Yet, oddly, he makes the opposite claim that removing those payments were, in fact, to make GDP look MORE POSITIVE than GNP. Your turn.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
I expect this to be his response. Since I am not a woman, I don't expect the usual misogeny that he displays towards you and LM.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
The two Erics have apparently become quite chummy.
He sees every female only for their potential return on investment as a mail order bride. And he has the nerve to say Lucysmom desires a return to slavery in the US, when 'he' practices it daily.
I guess you couldn't say he has the rebuttal on the 'tip of his tongue'.
Hehehe.
This happened the last time when he linked me to Williams' bizarre accounting of inflation.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
I'll put him up against you, or any government-sponsored economist, INCLUDING "Helicopter Ben." Really, who are you? The answer is "nobody."
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
Chuckles...and you're who again? Your response was predicted...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Request denied. I have explained. You've demonstrated you're not interested in learning, so there's no point in explaining this further. If you were truly interested, you'd find out for yourself. But you're not. And you won't. End of discussion.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
Your better. Yeah... RIIIIIIIIIGHT. Hey, Stone, why did you let this shit-bag back on your forum? Don't tell me it's for his vast intellect, or interest in learning...
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
Duh.. have explained. You've demonstrated you're not interested in learning, so there's no point in explaining this further. Oh get the fuck over yourself, Erica. You haven't explained dick...for the last 10 goddam years you've been proclaiming on any website that will have you that the end of the economic world is just around the corner - just like any other random, ranting lunatic with a hallucinated calamity that is actually deep rooted in whatever psychosis grips you at the moment... If you were truly interested, you'd find out for yourself. But you're not. And you won't... ...so now I'm taking my ball...and my bat...and my glove...and my shiney handkerchief that Mumsy gave me for my berfday and un' goin' home!!! /drooling tool
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Boofer has the same issue with contractions.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
You wanted an explanation, I provided you with the link. I can show you the door, YOU choose whether to walk through or not. Your answer was "not." Your choice, and that's fine. Quit pretending to be interested in the subject, when you clearly don't give a crap about the truth. Your agenda can be summed up in a single word: "disrupt." Kindly ESAD.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
Dumbshit: Boofer has the same issue with contractions. Don't know who "boofer" is, and don't really care. The response was grammatically precise. 100%. It is YOU that fails to grasp the English language- which surprises me not at all.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
And I pointed out two flaws on the first page.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Chuckles...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
So where is the part about the Democrats took over as the majorities in the House and Senate in Jan 2007, and have been the ones lying about our economic growth?????? Ya think they also caused the Recession to happen instead of Bush????
When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
The fact that the economy was beginning to falter in 2006 had a lot to do with why they regained the Congress. Ya think they also caused the Recession to happen instead of Bush???? Why would you? They had nothing to do with the errors of the previous 6 years...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
No it didn't and you can't provide one contemporaneous source claiming it did.
Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president
Michigan's recession started around 2005 in large part due to extreme gasoline prices and the fall off of suv/truck sales. Yes indeed, our recession started in large part due to Jorge's bastard invasion of Iraq and the resulting spike in oil prices.
Never swear "allegiance" to anything other than the 'right to change your mind'!
Awhile back he recommended reading Richard M. Weaver From Wikipedia: Weaver's ideal society was that of the European Middle Ages, when the Roman Catholic Church gave to all an accurate picture of reality and truth (Nash 94). Nominalism emerged in the late Middle Ages, but had few adherents before the 17th century. More generally, Weaver felt that the shift from universal truth and transcendental order to individual opinion and industrialism adversely affected the moral health of Americans. Nominalism also undermines the concept of hierarchy, which depends entirely on fundamental truths about people. Weaver, in contrast, believed that hierarchies are necessary. He argued that social, gender, and age-related equality actually undermine stability and order. Believing in "natural social groupings" (Young 112), he claimed that it should be possible to sort people into suitable categories without the envy of equality. Using the hierarchical structure of a family as an example, he pointed out that family members accept various duties grounded in "sentiment" and "fraternity," not equality and rights (Young 113). Continuing in this direction, he claimed not to understand the feminist movement, which led women to abandon their stronger connection to nature and intuition for a superficial political and economic equality with men (Young 123). Weaver maintained that egalitarianism only promoted "[s]uspicion, hostility, and lack of trust and loyalty" (Toledano 270).
"...all of the equations in neoclassical economics are rubbish. The differential equations describe nothing. Economics is not about mathematics, it is about the human being." Sandeep Jaitly
So where is the part about the Democrats took over as the majorities in the House and Senate in Jan 2007, and have been the ones lying about our economic growth?????? The fact that the economy was beginning to falter in 2006 had a lot to do with why they regained the Congress. Ya think they also caused the Recession to happen instead of Bush???? Why would you? They had nothing to do with the errors of the previous 6 years... America...My Kind Of Place... So RINOs using liberal policies (overspending and initiating more entitlement programs) didn't lead to that???? That still doesn't explain why they've been lying about our lack of economic growth???? Or was it because of what I said in the first sentence, same BS policies, same BS results!!!!! Just one has an "R" before their name and the other has a "D"......
When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
From Wikipedia: You stupid, STOOOOPID woman (in BOTH screen-names)... reading about him on wiki is NOT the same as reading what HE wrote. LOL. No wonder you're such a ditz... easily lead around by the nose, unable to think for yourself.......
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
Yes indeed, our recession started in large part due to Jorge's bastard invasion of Iraq and the resulting spike in oil prices. Michigans problems started way before then..... When you elect politicians with Liberal policies and you have a lot of unions, that's the real reason....-
When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
Partially true. The lardass repuke Gov. Engler set the table for Michigans woes. BTW, the Michigan gov't is now controlled by the GOP including the Gov., both state houses of Congress and the Supreme Court. Oh, did I mention that Michigan's unemployment rate for June is the highest it has been since these knuckdraggers took office?
Never swear "allegiance" to anything other than the 'right to change your mind'!
I schooled you at LP over this too, asshole. Release Date: December 12, 2006 The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent. Economic growth has slowed over the course of the year, partly reflecting a substantial cooling of the housing market. Although recent indicators have been mixed, the economy seems likely to expand at a moderate pace on balance over coming quarters. Readings on core inflation have been elevated, and the high level of resource utilization has the potential to sustain inflation pressures. However, inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand. Nonetheless, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information. Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Susan S. Bies; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; William Poole; Kevin M. Warsh; and Janet L. Yellen. Voting against was Jeffrey M. Lacker, who preferred an increase of 25 basis points in the federal funds rate target at this meeting. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ You're welcome moron.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
The old "RINO" defense, eh? Why is it that the GOP seems to have MORE RINOS in it than any other "thing"?
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Chuckles...does it make you feel more manly [trying] to pick on women as you do?
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Why is it that the GOP seems to have MORE RINOS in it than any other "thing"? Isn't that what you call the Establishment Republicans----- RINOs, Baby Democrats, Dumbassocrats..... call them what you will, they're just like the Liberals.... not interested in doing what's right for the country just what's right for their wallets......
When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!! -----------------------------"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
Because the dummy wife he bought doesn't have sense enough to dump his ass, he thinks that that most other women are just as dumb.
You must be getting her mixed up with your purchased wife.
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--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#2. To: war (#1)
(Edited)
#3. To: All (#2)
#4. To: All (#3)
#5. To: Brian S (#0)
The revisions showed that growth in 2010 was a bit stronger than previously estimated. They put growth for all of 2010 at 3 percent, up from a previous estimate that the economy grew 2.9 percent last year.
Freedom is slavery.
Ignorance is strength.
#6. To: Capitalist Eric (#5)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#7. To: war (#6)
Please explain how "SGS" came up with its "alternative".
Freedom is slavery.
Ignorance is strength.
#8. To: Capitalist Eric (#7)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#9. To: war (#8)
I asked YOU to do so/. Not a link. YOU explain why we should take that graph "seriouslY"...
#10. To: Capitalist Eric (#7)
----------------------------------------
----------------------------------------
1929 103.8 103.4 104.4 +0.97%
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#11. To: mininggold (#9)
(Edited)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#12. To: war (#11)
I expect this to be his response.
#13. To: war, Lucysmom (#11)
Since I am not a woman, I don't expect the usual misogeny that he displays towards you and LM.
#14. To: war, Capitalist Eric (#10)
Your turn.
#15. To: mininggold (#13)
He sees every female only for their potential return on investment as a mail order bride.
#16. To: mininggold (#14)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#17. To: war (#10)
Your boy can't even do basic math:
Freedom is slavery.
Ignorance is strength.
#18. To: Capitalist Eric (#17)
(Edited)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#19. To: war (#8)
I asked YOU to do so/.
YOU explain why we should take that graph "seriouslY"...
Freedom is slavery.
Ignorance is strength.
#20. To: war, A K A Stone (#18)
Chuckles...and you're who again?
Your response was predicted...
Freedom is slavery.
Ignorance is strength.
#21. To: Capitalist Eric (#19)
Request denied.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#22. To: Capitalist Eric (#20)
Your[sic] better.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#23. To: war (#21)
Oh get the fuck over yourself, Erica.
Freedom is slavery.
Ignorance is strength.
#24. To: war (#22)
Capitalist Eric: Your[sic] better.
Freedom is slavery.
Ignorance is strength.
#25. To: Capitalist Eric (#23)
I provided you with the link.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#26. To: Capitalist Eric (#24)
It is YOU that [sic] fails to grasp the English language...
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#27. To: Brian S (#0)
The 2007-2009 recession, already in the record books as the worst in the 66 years since the end of World War II, was even worse than previously thought.
#28. To: CZ82 (#27)
So where is the part about the Democrats took over as the majorities in the House and Senate in Jan 2007, and have been the ones lying about our economic growth??????
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#29. To: war (#28)
The fact that the economy was beginning to falter in 2006 had a lot to do with why they regained the Congress.
#30. To: CZ82 (#27)
#31. To: mininggold (#13)
And he has the nerve to say Lucysmom desires a return to slavery in the US, when 'he' practices it daily.
#32. To: war (#28)
(Edited)
#33. To: lucysmom, mininggold (#31)
Awhile back he recommended reading Richard M. Weaver
Freedom is slavery.
Ignorance is strength.
#34. To: Brian S (#30)
Michigan's recession started around 2005 in large part due to extreme gasoline prices and the fall off of suv/truck sales.
#35. To: CZ82 (#34)
#36. To: no gnu taxes (#29)
No it didn't and you can't provide one contemporaneous source claiming it did.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#37. To: CZ82, go65 (#32)
So RINOs using liberal policies (overspending and initiating more entitlement programs) didn't lead to that????
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#38. To: Capitalist Eric (#33)
(Edited)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#39. To: war (#37)
So RINOs using liberal policies (overspending and initiating more entitlement programs) didn't lead to that???? The old "RINO" defense, eh?
#40. To: war (#38)
(Edited)
Chuckles...does it make you feel more manly [trying] to pick on women as you do?
#41. To: Capitalist Eric, Lucysmom (#33)
No wonder you're such a ditz... easily lead around by the nose, unable to think for yourself.......
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