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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: 39383
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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#5. To: Brian S (#0)
LMAO! You can't resist pushing the propaganda (marked in red, below), eh, Baghdad Bri-Bri? Here's a dose of reality (in blue).
Please explain how "SGS" came up with its "alternative". Thanks...
It's HERE. Knock yourself out.
I asked YOU to do so/. Not a link. YOU explain why we should take that graph "seriouslY"...
This should be interesting. Let's see if mammy can do it without a cut and paste, and posting spam.
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.
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.
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).
#33. To: lucysmom, mininggold (#31)
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.......
Top • Page Up • Full Thread • Page Down • Bottom/LatestThe 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.
#6. To: Capitalist Eric (#5)
#7. To: war (#6)
Please explain how "SGS" came up with its "alternative".
#8. To: Capitalist Eric (#7)
#9. To: war (#8)
I asked YOU to do so/. Not a link. YOU explain why we should take that graph "seriouslY"...
#11. To: mininggold (#9)
(Edited)
#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.
#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.
Replies to Comment # 31. Awhile back he recommended reading Richard M. Weaver
End Trace Mode for Comment # 31.
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