Seven Wishes wrote:First of all, what you're forgetting to incorporate into your "thinking" that the GDP has increased if you factor in the increased cost of energy (oil) and its subsequent effect on the CPI. Everything therein is trending in the right direction. Additionally, the fourth quarter boost is the result of higher seasonal (Christmas) spending. It's right there in your own data chart!!!
Look, even Mitt Romney is now attempting to take credit for the very, very successful auto bailout - even though he vehemently opposed it in 2009, he is claiming to have "thought of it first" now that its success can no longer be denied.
Holiday spending accounts for 3%-5% of Q4 GDP... example:
1. 2010 GDP of the U.S. was about $14.7 trillion
2. 2009 total holiday retail sales were $504 billion
That's 3.4% of the U.S. GDP... statistically insignificant... maybe you should stop quoting shit you have no understanding about...
And since you are fixating on GDP... that auto bailout has largely done nothing to resolve weak GDP.... because GDP is largely a measure of US CONSUMPTION... not production... and overall GDP is FALLING...
as you said... "It's right there in my own data chart!"
Strike ONE...
Seven Wishes wrote:First of all, what you're forgetting to incorporate into your "thinking" that the GDP has increased if you factor in the increased cost of energy (oil) and its subsequent effect on the CPI. Everything therein is trending in the right direction. Additionally, the fourth quarter boost is the result of higher seasonal (Christmas) spending. It's right there in your own data chart!!!
Regarding oil...
The increased cost of oil has caused CPI to rise and that increases GDP?.... If that were the case the GDP numbers
released yesterday would reflect that growth... except they DON'T because GDP FELL... but the increase in fuel prices DOES appear in the price indexes.
That's called INFLATION Nancy...
Strike TWO....
Seven Wishes wrote:Notice the overall unemployment rate:
http://data.bls.gov/timeseries/LNS14000000It was at 8.2 when Obama, the country still reeling from Bush's budget, was sworn in. Seeing as the Bush budget (excluding the successful bailouts...see:
http://www.recovery.gov/About/RecoveryInAction/Pages/RecoveryInActionLanding.aspx) was the prime mover of at least the first six months of the Obama Administration...and if one (very legitimately) looks at September 2009 as the first date from which measurable negative or positive effects from Obama's economic policy can be gleaned, you'll see the unemployment rate was 9.8
IT'S NOW 9.0.Compare that to Bush, whose policy effects can be traced back to mid-2001. Well, golly gee! It was BELOW 5.0 percent. That means it went up
4.9 PERCENT (as he is the only President in history to preside over two recessions and a net job loss over eight years).
First you need to get some schooling on unemployment measures:
- U-1, persons unemployed 15 weeks or longer, as a percent of the civilian labor force;
- U-2, job losers and persons who completed temporary jobs, as a percent of the civilian labor force;
- U-3, total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate):
- U-4, total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers;
- U-5, total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers; and
- U-6, total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.
The U3 rate doesn't include ALL who are unemployed. it's what the government uses so it can state single digits.... and snow fools like you...
Nearly all economists (liberal, conservative, Keynesian and Austrian) agree the U-6 is the REAL unemployment rate. And the U-6 is a bit higher than the U-3.. and trending HIGHER...
http://data.bls.gov/timeseries/LNS13327709
Here's the state rates if you wanna fill up some more of that empty skull:
http://www.bls.gov/lau/stalt.htm
Strike Three.. YER OUT...
I got your "owned"... right here...
It's not my data bitch .. it's the governments... get a clue and stop being a tool....