GDP Growth Anemic

#3
#3
VolFan32 said:
Obama built that!
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He certainly hasn't done anything to fix the problem, but it wasn't built entirely by him. It has been a long time coming. I just hope that we quit doing tarps and stimuli and just let it crash the way it needs to. Falsely propping up faulty economics will only make the crash worse when it finally happens.
 
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#6
#6
Vols JD said:
GDP is garbage anyway.
GDP would have you pay more for products, work long hours, and never take vacation. GDP sucks as a measurement for anything important to America.
Outsourcing is great for GDP, it is worthless and not worth talking about.
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Good stuff. I think Obama should take notes from you and use this next time he is making a speech on the economy.
 
#7
#7
Vols JD said:
GDP is garbage anyway.
GDP would have you pay more for products, work long hours, and never take vacation. GDP sucks as a measurement for anything important to America.
Outsourcing is great for GDP, it is worthless and not worth talking about.
Click to expand...

Script has been flipped. Never seen someone try to give a lecture to an economics professor about the economy. Could get interesting.
 
#8
#8
Vols JD said:
GDP is garbage anyway.
GDP would have you pay more for products, work long hours, and never take vacation. GDP sucks as a measurement for anything important to America.
Outsourcing is great for GDP, it is worthless and not worth talking about.
Click to expand...

What are you tracking and what does it tell you about the economy?
 
#9
#9
Vols JD said:
GDP is garbage anyway.
GDP would have you pay more for products, work long hours, and never take vacation. GDP sucks as a measurement for anything important to America.
Outsourcing is great for GDP, it is worthless and not worth talking about.
Click to expand...

while there might be some merit to your first statement, nothing else you posted backed it up. Can you better explain?
 
#10
#10
Vols JD said:
GDP is garbage anyway.
GDP would have you pay more for products, work long hours, and never take vacation. GDP sucks as a measurement for anything important to America.
Outsourcing is great for GDP, it is worthless and not worth talking about.
Click to expand...

Oh so then the economy is doing well?

Wonder why a recession is defined by negative GDP growth.

Silly economists measuring and using a stat that is garbage.
 
#11
#11
Does anyone thing that either Obama or Romney will fix this? The longer this lasts, the longer I think we're looking at another 5+ years before natural business changes pull us out of this.
 
#15
#15
VolFan32 said:
Agreed. The government does not create jobs, but they should set a business-friendly envirnoment. Obama has shown that his policies are not business-friendly.
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Agreed to some extent - I'm no fan of Obama. But I believe that as much of the problem can be blamed on extreme positions taken on both sides of government. All business needs is predictibility - and while business friendly predicitibility would obviously be preferred - I'd argue that down right unfriendly but stable and predictible polices would be better than the crazy gridlock and polarizing positions we see now from elected officials. At least you can PLAN for stable but unfriendly.
 
#16
#16
Agree that the majority of the fix is out of the hands of the government and POTUS in particular.

I do think that the government can impede (as in currently) or get out of the way (hopefully more of what Romney would do).

The stimulus was poorly designed, the ACA introduced massive uncertainty, regulatory action and rhetoric likewise have resulted in uncertainty and finally the demonization of capitalism has resulted in uncertainty.

A change in tone could be pretty significant.
 
#17
#17
volinbham said:
Oh so then the economy is doing well?
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I did not say that, I just said that measuring an economy based on GDP alone is silly because GDP is not a gauge for how an economy is doing relative to its citizens.

volinbham said:
Wonder why a recession is defined by negative GDP growth.
Click to expand...

Well, it depends on which economist is defining a recession. Based on the NBER, GDP does matter but it doesn't make it the best way to define a recession. How can we define a recession without taking into effect the people that are in the economy- GDP does not take any of this into effect. No one knows the best way to measure wealth in a country but economist have looked past GDP as the end all be all of measurement. Some think GPI is better

Gross Progress Indicator

I hate posting big articles but it seem that people want to see more than just a post...

volinbham said:
Silly economists measuring and using a stat that is garbage.
Click to expand...

I agree!!! Silly economist, actually I would call them archaic economist that should either hang it up or learn to adapt to progress and the times.
 
#18
#18
VolFan32 said:
I don't know if Romney can fix this, but it's been pretty evident that Obama can't.
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Romney cannot fix this with the plans he has now and Obama will never get a chance to fix this with the congress the way it is right now. Would Obama fix it if he had the chance... I tend to think not. Time and world markets will eventually allow us to see what is needed to get out of this kind of mess. I hate to say it... it may take some time... a lot of time...
 
#19
#19
Vols JD said:
Romney cannot fix this with the plans he has now and Obama will never get a chance to fix this with the congress the way it is right now. Would Obama fix it if he had the chance... I tend to think not. Time and world markets will eventually allow us to see what is needed to get out of this kind of mess. I hate to say it... it may take some time... a lot of time...
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What is Romney's plan to fix the economy?
 
#20
#20
Gramps said:
What is Romney's plan to fix the economy?
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http://www.mittromney.com/sites/def...America-PlanForJobsAndEconomicGrowth-Full.pdf

I have read it and it is a lot of is what Bush did (or would have done with another term)... how did that work out... Obama just wants to do what Clinton did in a lot of ways plus some extra progressive things. Both suck in totality. I wouldn't mind doing some of both of the plans combined. This is why ideology always gets in the way. Both are ideologues that need to go!!!
 
#21
#21
Vols JD said:
I did not say that, I just said that measuring an economy based on GDP alone is silly because GDP is not a gauge for how an economy is doing relative to its citizens.

Well you didn't say measuring it on GDP alone is silly - you said the measure itself is garbage which I assume means worthless.

I would agree that you can't measure the economy on one indicator alone.

When combined with other indicators it is a quite useful measure and no measure when used alone is a good gauge of the economy.



Well, it depends on which economist is defining a recession. Based on the NBER, GDP does matter but it doesn't make it the best way to define a recession. How can we define a recession without taking into effect the people that are in the economy- GDP does not take any of this into effect. No one knows the best way to measure wealth in a country but economist have looked past GDP as the end all be all of measurement. Some think GPI is better

Gross Progress Indicator

Didn't say it was the only way and I'm not surprised there are some economists that think there are better measures of a recession. Still, it is the most commonly used measure.

I hate posting big articles but it seem that people want to see more than just a post...



I agree!!! Silly economist, actually I would call them archaic economist that should either hang it up or learn to adapt to progress and the times.
Click to expand...

I'm still not seeing where GDP is a garbage measure that should be abandoned by economists (the majority of who use it). How have you determined that the field needs to "adapt to progress" and do away with this garbage statistic?
 
#22
#22
#23
#23
Vols JD said:
http://www.mittromney.com/sites/def...America-PlanForJobsAndEconomicGrowth-Full.pdf

I have read it and it is a lot of is what Bush did (or would have done with another term)... how did that work out... Obama just wants to do what Clinton did in a lot of ways plus some extra progressive things. Both suck in totality. I wouldn't mind doing some of both of the plans combined. This is why ideology always gets in the way. Both are ideologues that need to go!!!
Click to expand...

WTF, not even close. Both are flip-floppers.
 
#24
#24
Vols JD said:
Romney cannot fix this with the plans he has now and Obama will never get a chance to fix this with the congress the way it is right now. Would Obama fix it if he had the chance... I tend to think not. Time and world markets will eventually allow us to see what is needed to get out of this kind of mess. I hate to say it... it may take some time... a lot of time...
Click to expand...

You do realize he had a majority of both the House and the Senate his first two years.
 
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