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Foj
Citizen
Username: Foger
Post Number: 1269
Registered: 9-2004
| | Posted on Thursday, May 4, 2006 - 10:33 pm: | 
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Our trade deficit has ballooned, our manufacturing has collapsed, our high-end programming jobs are being outsourced, and our real estate market is falling, with consumer debt at an all-time high. We're consuming but not producing.
This is starting to sound like a variation of the Enron model. And would suggest that the GDP is really shrinking by 1.5% to 2% annually.
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Factvsfiction
Citizen
Username: Factvsfiction
Post Number: 294
Registered: 4-2006
| | Posted on Thursday, May 4, 2006 - 10:37 pm: |
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Well what does Greenspan say? Oh sorry, I am not a wealthy Japanese manufacturer willing to pay 25k a pop to hear him speak. Buy low, sell high Foj? |
Tom Reingold
Supporter
Username: Noglider
Post Number: 14079
Registered: 1-2003
| | Posted on Friday, May 5, 2006 - 10:28 am: |
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Greenspan is gone. What does Bernanke say?
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Chris Prenovost
Citizen
Username: Chris_prenovost
Post Number: 861
Registered: 7-2003
| | Posted on Friday, May 5, 2006 - 11:50 am: |
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The same thing the rest of the Fed says: Keep whistling past the graveyard, and hope no one pays too much attention to the fact the we make nothing, consume everything, borrow and spend like there is no tomorrow, and it's all okay because Bush talks to Jesus. |
Foj
Citizen
Username: Foger
Post Number: 1276
Registered: 9-2004
| | Posted on Friday, May 5, 2006 - 10:18 pm: |
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After World War II, the government measured GDP with consumption as 70 percent of the measure. At the time, all we consumed we produced. But today, half of the goods that we consume are produced abroad, and the reported GDP is flawed. For example, the official government GDP figure for the fourth quarter of last year is 1.7 percent. But according to John Williams, a respected conservative Republican economist, the figure "should be close to 2 percent contraction." Alan Greenspan and the Boskin Commission appointed by Congress jimmied the CPI to lessen Social Security payments. Rather than about 3.4 percent, Williams reports that "real CPI right now is running at about 8 percent."
The Clinton administration jimmied employment figures by reducing the number of people surveyed in the inner cities. Now with proper labor force growth, Charles McMillion, a noted Washington economist, reports an unemployment rate at 7.6 percent instead of 4.7 percent.
In the last five years we have lost 2.9 million manufacturing jobs. To keep us going, the government has cut taxes and goosed the economy with $2.5 trillion in "hot" checks to create jobs. Paul Craig Roberts, Ronald Reagan's economist, states: "No sane economist can possibly maintain that a deplorable record of merely 1,054,000 net new private sector jobs over five years is an indication of a healthy economy."
http://www.charleston.net/stories/?newsID=84520§ion=commentary |
Factvsfiction
Citizen
Username: Factvsfiction
Post Number: 319
Registered: 4-2006
| | Posted on Friday, May 5, 2006 - 10:37 pm: |
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Greenspan would be back shortly if Bernake keeps spilling his guts to the "Money Honey".
Chris- It is actually Mel Gibson that talks to Jesus, and Mel says buy GM. |
Foj
Citizen
Username: Foger
Post Number: 1277
Registered: 9-2004
| | Posted on Saturday, May 6, 2006 - 9:21 am: |
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But according to John Williams, a respected conservative Republican economist, the figure "should be close to 2 percent contraction." Williams reports that "real CPI right now is running at about 8 percent."
Inflation @ 8%
GDP @ -2% |
johnny
Citizen
Username: Johnny
Post Number: 1616
Registered: 5-2001
| | Posted on Saturday, May 6, 2006 - 2:14 pm: |
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I have a question....
Is John Williams a respected conservative Republican economist? |
Factvsfiction
Citizen
Username: Factvsfiction
Post Number: 326
Registered: 4-2006
| | Posted on Saturday, May 6, 2006 - 4:03 pm: |
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republican economist = conservative
= supplysider |
Foj
Citizen
Username: Foger
Post Number: 1282
Registered: 9-2004
| | Posted on Saturday, May 6, 2006 - 4:17 pm: |
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Walter J. "John" Williams was born in 1949. He received an A.B. in Economics, cum laude, from Dartmouth College in 1971, and was awarded a M.B.A. from Dartmouth's Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar. During his career as a consulting economist, John has worked with individuals as well as
Fortune 500 companies.
http://www.gillespieresearch.com/cgi-bin/bgn/
http://moneycentral.msn.com/content/P146055.asp?Rating=10&PageID=146055
http://72.14.207.104/search?q=cache:kApvQCJSxaMJ:www.weedenco.com/welling/Downlo ads/2006/0804welling022106.pdf+John+Williams++economist&hl=en&gl=us&ct=clnk&cd=1
If I have the right guy, he is certainly an economist, COnservative, I dont know. |
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