The growth of our GDP in the last financial quarter was 3.3%. Which is good from a historical perspective. OK. This is not a recession. I repeat. To all liberal whackos, this is not a recession. Unemployment is 5.7%, this is from a historical perspective referred to as ‘very low’. Yes, the housing bubble continues to pop. But the rest of the economy appears to be OK.
Considering we are in a war, this is not a bad economy. Bush’s monetary policy has not helped, yet the economy refuse to collapse, despite his abuse. Given FIVE years of the Democrats, and their choir in the MSM, publicly praying for a recession, there appears to be some resilience in the economy. So lets get to the meat of it. Do you think the current state of the economy, given this latest bit of news, hurts or helps McCain or Obama? Inquiring minds want to know your views.
Now, there WERE those who laughed when I stated last May, that if the economy strengthened in Sept. and October (exactly as Bernacke later predicted it would)…and if we were doing much better in Iraq to bring troops home (As a recent top Marine has suggested we begin doing)that McCain would have an incredible advantage.
Bulletproof,
Dude, even a blind squirrel finds a nut every once in a while.
I recall you recommending on one post you advocating not drilling and on another you doing just the opposite. Care to explain that?
Bulletproof, jacob refers to Q2 which is April-June.
In Q1, the GDP growth rate (albeit only .9% growth) indicated turnaround began then.
The slump occurred in Q4 of 2007, when the GDP fell from 4.9% growth rate in Q3 to a .6% growth rate of Q4.
Unfortunate for the Dems and the MSM that they chose to make the economy an election year issue. The numbers above indicate that this dog won’t hunt.
Unfortunately, a large percentage of voters simply do not pay close enough attention to “the numbers ” In their world perception is the reality. Smart political campaigns know the numbers while effectively countering the perception or false reality conjured up by the opposition and their allies in the media.
An example might be as follows:
Last night Obama said in his speech that he himself and his single mother struggled economically. Well guess who was president during that time of malaise ? That’s right Jimmy Carter. Carter was horrible for the US economy. Inflation was out of control, interests rates were through the roof, unemployment was in double digits and Americans were sitting in gas lines. All on Carters watch.
Use Obamas own experiences against him. Ask the American people:
Do you want to be sitting in a gas line in order to fuel your car so you can drive to the local unemployment office to look for a job and on the way back swing into the bank to beg them to lower your interest rate from 18% to something more manageable lest you go into foreclosure? A long question I know but one worth asking.
Remind those who were not even born yet that Obama Economics has been tried before and rejected for good reason. Do you really want a return to Carter II ? Must we all suffer and put our nations economic future at risk because of our inability to honestly convey to those born since 1976 the economic disaster commonly referred to as the Carter Administration.
Jacob…point it out, dude. I’ve been pro-drill from the onset. If it’s added to the world supply, we increase the GDP. If it stays here, we immediately affect the price of futures the minute we hit the oil pocket. I fully support alternate fuels ..and openly say we should have done so with much more vigor back in 1980… with the fuel rations FRESH in our recollections. We seem sto have gone the other way with SUVs replacing the family wagon (interestingly, did you know that the old “K” Car station wagon has roughly TWICE the useable cargo space as a Hummer H2, and burned a quarter of the gas?), we continued to live beyond our means on credit cards (to keep appearances for the neighbors), and lied in large numbers to obtain loans we knew we could never repay.
It is no wonder that the baloon popped, and now we have to endure a large scale “correction” of the market.The market is going back to where it SHOULD have been all along, before it was driven by greed and wanton spending by those who desperately wanted to hang with the upper crust(Who righteously EARNED it)at all costs and moral abatement.
G,
“Unfortunately, a large percentage of voters simply do not pay close enough attention to “the numbers ”
Very true, many choose their candidates as they do their laundry detergent, from 30sec TV commercials.
Further Jacob, I NAILED 7 out of 8 predictions in September of 2007 for the approaching BOS elections. The record of this forecast was (is??-Joe, did we lose those posts in the format redress?) here on NOVATown Hall.
I even called Delguadio as a survivor by a couple hundred votes. Clem is where I fell off. I didn’t think Burke could take him.
Not bad for a blind squirrel, huh?