In partnership with CBSSports.com
Online Now 2594
Online now 2565 Record: 18710 (2/25/2012)
We aren't just committed to college football; we're early enrolling in it.
Where the madness isn't just in March.
You have no favorite boards.
The most viewed topics.
The most replied to topics.
The most up-voted topics.
The most down-voted topics.
The most up-voted posters.
The most down-voted posters.
The most followed posters.
0.1% in fourth quarter 2012. So much for the recovery.
I like how you conveniently forget to mention that this is the first time since Q2 2009 (a.k.a. the recession) that the economy has contracted at all.
Besides, this is due to a 22% reduction in defense spending that caused a one-off contraction, don't start panicking.
Uncle Sam cut his spending in the fourth quarter of 2012, causing the U.S. economy to contract for the first time in more than three years.
This post has been edited 2 times, most recently by CMXI 15 months ago
yeah I've been pessimistic mostly in the last few years (haven't we all) but this doesn't really bother me due to what meeshlib links above. payroll data is strong, corporate earnings are strong, and private enterprise is strong. I am more worried about the drastic drop in consumer confidence due to the fiscal cliff crisis and payroll taxes.
I think it is too early (post-cliff) to gauge the economy. Companies in my area are hiring, which most run on federal contracts - so there is money starting to seep in.
I also like how you conveniently leave out the part about how this is literally the worst grow period coming out a recession ever. Like literally one of the worst. I also like how you know knowing about the hours of service that will go into effect in June/July that will really eff everything up.
These numbers are literally god damn piss poor and no one with any ounce of business smarts in anyway can justify these numbers. As someone who works in the trucking industry, if you think these numbers bad and things are expensive now. Just wait until the hours of service is implemented.
Yeah, I don't know anything about hours of service requirements. It's not like some of my firm's clients are trucking companies or anything, or that my department has a specialty focus on trucking defense. No, I know nothing about that. [/sarcasm]
The only people that will be affected by HOS regulations are a subset of longhaul drivers, and the benefits reaped by trucking companies and the American economy will more than offset the costs of implementation. The new HOS regulations will go a long way to reducing trucking crashes and health problems among truck drivers, and if anything, the reduced hours for some drivers will mean new jobs for the public.
But please, by all means explain to me why these new regulations will "eff everything up" on a scale that could possibly significantly affect the economic recovery.
Yes I have seen all the numbers, consumer spending etc. And I know the market is taking this lightly.
However it's still pretty damn bad that the DOD making cuts can send the economy down so much. Especially considering that we will be going through very serious austerity measures in the coming years in a lot more areas than defense.
Bad times ahead.
I'm curious; based on this post do you support austerity measures (such as the sequestration), or would you rather see the cuts not happen?
You may run like Hayes, but you hit like $*!#
If only we didn't try to follow the Brits and enact austerity measures during a recovery. If we wouldn't have abandoned Keynesian economic principles, the recovery would not have been as sluggish as it's been, imo.
Well they have to happen at some point. I would rather see us cut them voluntarily than wait till we have no choice.
But the economy is going to have to take its lumps with Gov. spending cuts at some point. Might as well do it while we control it all.
This post was edited by TroyTide 15 months ago
So you believe that the cuts will be painful for the economy and result in sluggish or perhaps even negative GDP growth, but you think that pain is worth it for the long-term benefit (assuming our economy doesn't contract by too much) of lowering the federal debt?
Keynesian theory is the devils work. Only atheist muslim socialists support that
Yes less spending by any entity means less economic activity being created. However with our current debt situation we simply cannot maintain gov. spending at current levels indefinitely. Despite whatever positives gov. spending creates reality is that doing so on borrowed money will eventually have consequences.
Besides it's not healthy for the economy to rely so heavily on government spending in the first place. The government spends only in certain areas and those areas are determined by politics not the free market, much of the time. And there is the fact that whatever the government puts into the economy it has already taken out of it in the first place.
The problem with that is that you can't do it forever, borrowing money to prop up the economy is only a short term solution. The Brits will eventually reap the rewards of their prudence when they manage to avoid as serious of a debt crisis as the rest of the Western World is headed toward.
The rich are investing short term to make a quick buck.
"The stock market can continue to advance. What's propelling the stock market is fixed income markets that have reached their limit and low interest rates," said Steve Massocca of Wedbush Securities.
The Fed is keeping interest rates low to force investors into riskier assets. It will lead to the mother of all crashes later. The rich are buying up stocks, driving up prices and when the crash happens, guess who will be holding the bag? The average american who was investing in their 401k plans who wont be able to dump stocks in time.
The economy is going down the sh*tter despite Bernanke printing the f*ck out of money. I think obama should just print a ton of money and give every american a million dollars. Of course a toyota will cost $500,000, but who cares, we'll all be millionaires!!
That is why you raise taxes during boom periods to lessen the debt. Limits profits during booms, limits collapses during busts.
We seem to have been doing the opposite.
The Fed is doing everything it can to kick the can, hoping things change or just hoping for anything. There really isn't a whole lot they can do. All the problems that caused the last recession still exist. We are headed for the most predictable financial crisis in history.
Limiting profits would end the boom wouldn't it? Seems a strange philosophy to limit economic gains so the busts aren't as bad.
So you agree with austerity measures and cuts in government spending
But you start a thread complaining about a .1% quarterly decline in GDP that is MOSTLY due to a 22% decrease in defense spending.
Talk about having your cake and eating it too.
Nonsense, rich investors are putting their money into short term stocks because the market has traditionally done really well the first 3 months of the year and the last 3 months of the year (see graph).
Why is this?
People invest in IRAs (you have until April 15th to invest in your 2012 IRA). People get, and invest, tax refunds. Christmas season, bonuses, etc.
In short, demand for stocks from average people goes up, so price goes up. Rich people want to capitalize on this.
As for why the market contracted, the fiscal cliff scared a lot of people off.
EDIT: As for another reason why the market was short - it was very, very good in the early part of the year. As a result, a lot of investors made their yearly quote for % return, and thus converted to cash to ensure they didn't lose that return later.
This post was edited by ramssuperbowl99 15 months ago
I understand that austerity measures are painful but necessary. Just because they suck doesn't mean we don't need them.
How is your job at ATA working out for you?
My son's message to Obama, Clemson, and Georgia
I don't work for the American Trucking Association.
Well, hopefully the austerity we undertake won't result in fiscal multiplier coefficients less than -$1. If so, we will have done it for nothing. I suppose that's another reason to hope Congress stops the sequester and institutes deficit reduction that doesn't have the problem of proportionate or even higher disproportionate drops in GDP. Chances this happens though, zero.
No matter what side of the spectrum you are on, I think we can all agree that printing $85 billion dollars a month, suppressing interest rates (for half a decade +) and therefore artificially inflating the stock market, will have us out of this recession in no time.
I don't see a flaw anywhere in that plan.
247Sports In partnership with CBS Sports