Obama: I reversed recession until 'bad luck' hit

[Obama 2012 1,714]

I see. We need to withdraw from the global economy.

It's not a matter of "withdrawing" from the global economy, but the global economy is what has made our economy and everyone else's extremely unstable.

Imports and Exports are one thing, but when a majority of certain major products come from overseas, you're in trouble.

There is no reason for the United States to be reliant on imports.

Imports and Exports should be for more novelty items than necessity items.

[Mr. Big Dog 10,747]

Ding! Ding! Ding!

Good Luck with that strategery.

So, now you want to fault Obama for not pushing the US back into isolationism over the last 2.5 years? Is that your grievance?

[I AM NOT THAT GUY 5,715]

Good Luck with that strategery.

So, now you want to fault Obama for not pushing the US back into isolationism over the last 2.5 years? Is that your grievance?

There is a plurality on the left that would like to see NAFTA abrogated and all the troops brought home. You might find a long line of Independents, Libertarians, and Tea Partiers that feel the same way.

Edited August 16, 2011 by Crusty Old Perv

[luckytxn 2,264]

Bad luck.

If this were not so serious it would be funny.

So it was not GWBs fault?

Was it GWBs fault?

You just know Obama the Socialist and his dingle berries were trying to figure out how to blame Bush. It was some genius that told him just blame it on anything else but himself.

[Mr. Big Dog 10,747]

There is a plurality on the left that would like to see NAFTA abrogated and all the troops brought home. You might find a long line of Independents, Libertarians, and Tea Partiers that feel the same way.

I am in favor of bringing the troops home. And I am in favor of crafting free trade agreements that don't leave US workers holding the bag. Withdrawing from golbal trade seems like an odd concept, however. Many developed countries engage in all kinds of global trade and continue to produce jobs in all sectors of the economy. Quality jobs. Why not take a look at how they manage to do this while we can't seem to get it right? I have a suspicion that our corporate politicians of any color have a lot to do with that.

[Gary and Alla 3,694]

Now, we should have regulated against that earthquake and tsunami, don't you think?

So the recession was caused by Hurricane Katrina not GWB? Islamc terrorists, hurricanes in 2004 and 2005 a tsunami in Indonesia...not GWB

Brilliant.

Is this how he intends to get re-elected?

[Mr. Big Dog 10,747]

So the recession was caused by Hurricane Katrina not GWB? Islamc terrorists, hurricanes in 2004 and 2005 a tsunami in Indonesia...not GWB

Brilliant.

Is this how he intends to get re-elected?

You seem to like spagat. Don't hurt yourself, okay?

[Gary and Alla 3,694]

Did I say that? Of course not.

Okay, so we should regulate Japan's planning? Really?

So the recession was caused by GWB and Obama saved us from it (I missed that part) and now it is bad again because of natural disasters somewhere else?

Exactly what kind of failure would we have to experience before you realize Obama is incompetent?

[Mr. Big Dog 10,747]

So the recession was caused by GWB and Obama saved us from it (I missed that part) and now it is bad again because of natural disasters somewhere else?

The Great recession started in December 2007 (Bush was President then, yes?) and ended in mid 2009 (Obama was President then, yes?). The EUR debt crisis which is not exactly a natural disaster but a crisis with global economic impact began in late 2009 and is still ongoing 18 months later. The natural disaster in Japan had a negative impact on US production output earlier this year - not a welcome disruption of a still fragile recovery. This impact is now easing as just reported today:

WASHINGTON, Aug 16 (Reuters) - U.S. industrial output recorded its best gain in seven months in July as the auto sector bounced back from supply disruptions wrought by Japan's devastating earthquake in March.

Last but not least in line is the unrest in the Arab world which has, as we all witnessed, caused oil prices to spike. This is neither a new nor a particularly isolated incident. It's repeating once more what happend several times in history before. And each time, such spikes had less than desirable effects on the global and US economy.

Severe unrest in the Middle East has historically been a source of oil-price spikes, which in turn have triggered three of the last five global recessions. The Yom Kippur War in 1973 caused a sharp increase in oil prices, leading to the global stagflation of 1974-1975. The Iranian revolution in 1979 led to a similar stagflationary increase in oil prices, which culminated in the recession of 1980-1981. And Iraq’s invasion of Kuwait in August 1990 led to a spike in oil prices at a time when a US banking crisis was already tipping America into recession.

Oil prices also played a role in the recent finance-driven global recession. By the summer of 2008, just before the collapse of Lehman Brothers, oil prices had doubled over the previous 12 months, reaching a peak of $148 a barrel – and delivering the coup de grâce to an already frail and struggling global economy buffeted by financial shocks.

Questions?

[Trumplestiltskin 5,791]

Bad luck.

If this were not so serious it would be funny.

So it was not GWBs fault?

Was it GWBs fault?

Yes Gary, bush jr owns a share of the blame, as you know well, or should do. If you don't, you're clueless.

[lostinblue 1,989]

What Double Dip? Americans Say the Recession Never Ended

Tuesday, August 09, 2011 Email to a Friend ShareThisAdvertisement

Rasmussen Reports measures consumer confidence on a daily basis, and one of our standard questions is whether or not the United States is currently in a recession. According to the economists, the last recession lasted from December 2007 to June 2009, and some are wondering if we are on the path to a double dip.

A plurality of American adults believed the country entered a recession in November 2007. A majority has believed that the country is in a recession every month from February 2008 until now.

Overall, consumer confidence is currently near the lowest levels of the post-9-11 era.

http://www.rasmussenreports.com/public_content/business/general_business/july_2011/what_double_dip_americans_say_the_recession_never_ended

Only Obamas biggest doners (the bankers )have thought the recession has ended.

[Mr. Big Dog 10,747]

What Double Dip? Americans Say the Recession Never Ended

Opinion polls determine whether the economy is growing or contracting? Interesting. Thus far actual economic data determined that but I guess some just want to change everything since Obama took office.

[mawilson 2,133]

Economies are interlinked, who knew.

Michele Bachmann wants to fix that.

[Mr. Big Dog 10,747]

Michele Bachmann wants to fix that.

She's got that fixed in her head already.

[Trumplestiltskin 5,791]

Michele Bachmann wants to fix that.

Beautiful.