Monker wrote:Boomchild wrote:slucero wrote:Not even the St Louis Fed (which also means the Bureau of Economic Analysis, where the FED data is sourced from) agrees with that statement, because even their own data shows no GDP growth. It's been flat. A one quarter spike to 3% in a 7 year period does not a recovery make.
So in other words, they are presenting a false sense of improvement on the economy. Gee...that's a surprise.
If we had President McCain in office right now, the Republicans would be calling this the most successful recovery ever...even more dramatic then Reagan's.
The truth is in most ways the economy has recovered to being where is was years before the crash...and in some ways it is even stronger. You can always find negatives to whine about...but the economy is a HUGE negative for Republicans right now.
And, sorry Sluc, but NONE Of your predictions you have posted over the years have come true. That's even less than chance. We would be better off paying a fortune teller.
I'm agnostic when it comes to parties... I have no party affiliation. I prefer to simply look at the data.
I think even you'd agree that every/any party would call any recovery the "most successful recovery ever".. that's purely political rhetoric for a populace that chooses to believe what they are told, instead of digging through the data themselves. It's the unfortunate truth that parties will never be honest. They'll obfuscate instead, speaking about the data points that support their political position,
The simple, unbiased "truth" is that the very same data those championing "recovery" use... disproves the premise.
Nearly every traditional indicator of economic health is diverging from its traditional norm. Nearly all retail traders are out of the market, and the professional traders are chasing safe havens.. not yield. Trading volume itself is half of what it was in 2007, yet nominally the market value (the DOW) is twice what it was in 2007. Banks are effectively charging negative interests rates through their fees. The percentage of full time jobs in this country as a percentage of the adult population is the worst it’s been in 30 years. None of this occurs during recoveries. The opposite does.
People need to stop looking at the stock market (which historically paralleled GDP) as an indicator of economic health. Because this market growth (DOW) is nominal... and spurred largely by stimulus and ZIRP, which has not made it into the real economy (GDP). This is why the DOW is growing and GDP is flat. Structural growth in the DOW would be reflected in GDP... and yet the DOW has doubled since 2008, and GDP is flat.
One need only compare (again the FED/BEA's own data) the nominal value of GDP to the Adjusted Value to see the reality. What historically tracked parallel is now diverging for the 1st time since the late 1920's. It's just fact.

That delta is $10 Trillion dollars, and is roughly equal to the total stimulus since 2008. Absent the stimulus, or reverting to the mean... we've currently got a $6 Trillion dollar economy. Considering 2007 Real GDP was $14.99T, a 2015 Real GDP of $6T can in no way be considered a "recovery".
The question is why. The answer is simply in the same data. One need only look, seek to understand, or choose to simply believe what they are told.
And just what "predictions" are you referring to?
Please do me the courtesy of quoting the actual post(s) please, and I'll be more than happy to admit my mistake.