American Elephants


The Recession That Wasn’t by American Elephant

What if Democrats threw a recession and nobody came?

WASHINGTON (AP) — The economy logged slightly better — but weak — growth in the first quarter, spurred by improved sales of U.S. products overseas. While that’s heartening, the country is still far from being out of the woods.

In fact, a closer look behind the 0.9 percent increase in the gross domestic product during the January-to-March period revealed much caution on the part of consumers who have been clobbered by the housing, credit and financial debacles.

Clobbered by? No, the vast majority of American consumers haven’t been clobbered by the housing, credit and financial debacles — they have been clobbered with them. Clobbered over the head almost daily by a mainstream media determined to elect a Democrat. Contrary to what you hear from the media, it is only a tiny portion of Americans who are in foreclosure — 0.51 percent of homeowners  —  the other 99.49 percent are not. And for the most part, the increase has been among speculators who intentionally jumped into the “house flipping” gold-rush, taking loans they knew they couldn’t afford in the hopes of getting rich quick.

But you wouldn’t know that from the hysterical reporting would you? It’s no wonder consumers are skeptical when on top of increasing gas and food prices, the media are daily insinuating that half the country are losing their homes, and telling us we’re in a recession that the facts don’t bear out.

The fact is that a recession is defined by two consecutive quarters of negative growth. So far, we haven’t even experienced one. This past quarters’ 0.9 % growth is up from the previous quarters’ 0.6 % growth. Sluggish, yes, but growth nonetheless.

So what should Americans do in times of economic uncertainty and slow growth?

The last thing they should do is elect politicians who are promising to raise taxes drastically and increase spending by over 900 billion to over a trillion dollars as both Hillary Clinton and Barack Obama, respectively, have promised to do. The best thing Americans can do is vote such people, virtually all the Democrats, out of office, not in.

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8 Comments so far
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didja notice the news report you cited was based on statistics of a period as far back as five months ago? it takes that long for the figures to be accumulated and deciphered. print out your blog and look at it in a few months and then apologize to everybody that you twisted reality into an politically biased screed. you and they will be feeling the impact of runaway inflation during an economy that is stagnant at best. just something else the next president, of either party, is going to have to face.

Comment by straightrecord

Yes, I did notice that. That’s because the article is talking about the first quarter’s growth, from January through March. Very astute of you to pick that up.

Figures, that, you should also note, were revised upwards from previous figures as the data proves the growth was better than previously thought, not worse.

Interesting that you think reporting the actual figures and correcting misperceptions the media have been pushing is “twisting the truth”. The point, in fact the title, of this post is that the “recession” people keep insisting we are in does not exist. Thats not twisting anything. Those are hard facts.

But like I said in my post, we are still in a period of economic uncertainty and slow growth, and that means we could still enter a recession. Particularly if Democrats get elected and pass their promised tax increases and enormous spending increases. Indeed, as the election gets nearer we run the very real risk of a recession if investors believe Democrats’ policies will become law.

Comment by American Elephant

In the UK there are lots of the hate-Bush brigade cheering on a recession. These nitiwits seem to believe that the old adage “US gets a sniffle, UK gets the flu” no longer applies. The whole loan fiasco is far worse here and we have a socialist in power.

Comment by Andrew Ian Dodge

I work for a Florida law firm that represents parties in foreclosures. We have seem VERY few foreclosures of primary residences. They are mostly investment properties with some second home properties mixed in. That said, my neighbor is about to lose her home to foreclosure – but it has nothing to do with the economy. She is just too lazy to get a job. I trust she will be on the “woe is me, someone needs to bail me out” bandwagon. Statistics tell only part of the story.

So, I agress. The sky is not falling for most people. I wish the Chicken Little MSM would stop clobbering us!

Comment by Calvin

Unfortunately they will continue to clobber us right through the election — anything and everything that can even be remotely twisted to make the economy look bad will be employed and blown entirely out of proportion. Natually, despite the fact that the budgets and laws are now written by Democrats, everything will be Republicans fault.

This is the same media, lest we forget, that when the economy really was in the dot.com recession in 2000, also blamed then Governor Bush for “talking down the economy”. Funny how little we hear that phrase nowadays.

Comment by American Elephant

Andrew,
Isn’t it despicable that people would want a recession, and the human suffering it brings, just to further their political agenda? Unfortunatly, we have similar radicals here, undermining their country’s war efforts, endangering troops in harm’s way, hoping for a recession… we call them “Madame Speaker” and “Majority Leader.”

Comment by American Elephant

happy spending, all you who posted above. the recession is here big time, coupled with runaway inflation. you’ll feel it soon. i’m cutting back in anticipation and i’ll have it after you’re saying, “say what?” denial ain’t just a river in egypt.

Comment by straightrecord

Recession is a word that has meaning. As stated in the original post, a recession is defined by two consecutive quarters of negative growth. We haven’t had even one quarter of negative growth, let alone two, so your assertion that “the recession is here big time” is simply factually wrong.

Comment by American Elephant




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