[LordOpie]

WASHINGTON (Reuters) - Not only was the U.S. recession in 2001 the shallowest on record, it may not have been one at all -- at least in the classic sense of two straight quarterly declines, new government data show.

In annual revisions to U.S. gross domestic product numbers released on Friday that could fuel a politically charged debate, the Commerce Department rewrote the history of the recent downturn by revising away a decline in the second quarter of 2001.

http://news.myway.com/top/article/id/116084|top|07-30-2004::08:50|reuters.html

thoughts?

 

[fluff]

I'm sure it was Bush's fault. No, on reflection it was Clinton's fault. Or maybe it was down to Bush Snr. Or Reagan. Carter? Ford?? Nixon?? LBJ, Kennedy, Spiro Agnew?

I'm going to go and stab hot needles into my eyes.

 

[golgiaparatus]

I'm going to go and stab hot needles into my eyes.

Remember to take pics for all your pals

 

[Slugman]

thoughts?

I'm hungry...

My Boss is out of town, why am i on the biking forum whenthere is PORN out there...

N8 is a tool...

There is a blue moon tomorrow...

I wonder if he meant about the article...

Time for lunch...

 

[LordOpie]

ok, y'all go screw yourself

Here's a thought... if Bush says there wasn't a recession, then how'd he explain all the time saying he inherited one from Clinton? Would this be *another* case of him receiving bad info just like WMDs??! :devil:

 

[N8 v2.0]

Whoa!

An economist's flip-flop...???

"I was against the recession, before I found out there was no recession..."

 

[LordOpie]

Whoa!

An economist's flip-flop...???

"I was against the recession, before I found out there was no recession..."

are you sure you don't own a fixed gear bike? Cuz you sure can back pedal

 

[Silver]

ok, y'all go screw yourself

Here's a thought... if Bush says there wasn't a recession, then how'd he explain all the time saying he inherited one from Clinton? Would this be *another* case of him receiving bad info just like WMDs??! :devil:

Bush is never wrong and doesn't make mistakes.

You think God would pick a fallible man for President?

 

[Changleen]

Actually it seems you're not even out of the woods yet. Your latest economic figures look like it's all going a bit pear shaped again. Maybe if Bush could go on TV and say that someone is going to attack and Americans should stock up on High end plasma TVs, Cars and Trucks, share options, bottled water and tinned food the problem would get a bit better:

from the IHT (http://www.iht.com/articles/532070.html):

Bush is put on the spot as growth falls to 3% (Sat, 31st July)

U.S. economic growth slowed more abruptly than expected in the second quarter, as higher energy prices prompted consumers to slow their spending. The news appeared to undermine President George W. Bush's efforts to show solid economic growth as a validation of his administration's policies.

The Department of Commerce reported Friday that gross domestic product - the broadest measure of the nation's domestic output - had expanded at an annual rate of 3 percent in the quarter, sharply slower than the 4.5 percent growth achieved in the first quarter of the year and significantly below the 3.7 percent forecast from Wall Street.

The slowdown came as a setback to the U.S. president and played into the hands of his Democratic challenger, Senator John Kerry, who has criticized the president's administration of the economy as a failed strategy.

In a campaign stop in Springfield, Missouri, Bush omitted to mention the new data.

WHAT A SUPRISE! Ignore it and it goes away. Just like Iraq.

Instead, he stressed that the economy has grown briskly since last summer, adding more than 1.5 million jobs since last August.

"We have more to do to make America's economy stronger. We've come through a recession, terrorist attacks, corporate scandals. We overcame these obstacles because of the hard work and will of the American entrepreneur, the small business owner, the farmers and the workers. And we came through these obstacles because of well-timed tax cuts," the president said.

Yet Jason Furman, an economic adviser to the campaign of Senator Kerry, said that the slowdown in growth "makes it harder for them to make the argument that Bush's economic strategy is working. It rebuts their argument that the economy is getting better and better." The dollar slipped against the euro, while prices for U.S. bonds moved higher after the data as investors bet on an easier pace of interest-rate increases from the Federal Reserve. Stocks initially moved lower, but were up marginally by late morning.

U.S. consumers, who have been the strongest pillar of the recovery so far, were the most responsible for the slowdown in second quarter. Personal consumer spending expanded by barely one percent in the quarter.

followed by more breakdown of exactly who did or didn't do what and where with what decimal point.

And Bush continues to talk about only the Jobs created in his administration, not the fact that there is still a net loss. I seriously don't know how he has the gall to evn go out in public anymore.

 

[LordOpie]

Bush is never wrong and doesn't make mistakes.

You think God would pick a fallible man for President?

god picked jesus, didn't he? 2000 years later, things are still fvcked up.

 

[ALEXIS_DH]

god picked jesus, didn't he? 2000 years later, things are still fvcked up.

maybe it wasnt god after all.
jews kick ass

 

[fluff]

god picked jesus, didn't he? 2000 years later, things are still fvcked up.

That's why he picked Mohammed...

 

[w00dy]

Your latest economic figures look like it's all going a bit pear shaped again.

I keep hearing that, what does pear shaped mean. I know it's not good, but why?

 

[N8 v2.0]

I keep hearing that, what does pear shaped mean. I know it's not good, but why?

He's just hitting on L'Opie...

 

[RhinofromWA]

I keep hearing that, what does pear shaped mean. I know it's not good, but why?

To much in the hips and not enough up top.

Unless a lady with back is all that you are concerned about than pear shaped could be OK.

Damnit I am hear that Sir Mix-a-lot song in my head again.....:angry:

My an-na-con-da don't, want, none, unless you gots, buns, hun!

 

[RhinofromWA]

I'm hungry...

My Boss is out of town, why am i on the biking forum whenthere is PORN out there...

N8 is a tool...

There is a blue moon tomorrow...

I wonder if he meant about the article...

Time for lunch...

I laughed at that one!