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177 Comments
- Surferess, on 10/28/2009, -0/+77I studied the infographic and I did not get any sense of an answer to the question in the headline.
- janinekahn, on 10/28/2009, -12/+64Coming out? It's sadly only just begun.
- CptBuck, on 10/29/2009, -0/+46This is one of the worst infographics i've ever seen. Nothing is to scale and its just a bizarre jumble of poorly explained non-sequiturial information.
- inactive, on 10/28/2009, -1/+44I sure hope so. Economy has been a bitch. At least a third of my friends lost their jobs and are still looking.
- IIECONII, on 10/29/2009, -1/+43PLEASE GIVE ME A GODDAMN INFOGRAPHIC I CAN READ!
- Deveak, on 10/29/2009, -2/+28Not even close, I'm 21 years old, I have my own reliable transportation, I look for any manual labor job with pay all the way to minimum wage, I will work weekends, weekdays, 7 days a week, any shift , I love overtime, Ive never quit without a two weeks notice, and yet i still cannot find a job. Yet every day i see in the paper or the severely underfunded VEC (Virginia employment commission), hundreds of 4 year degree jobs or even worse hundreds of no degree jobs that require experience or they wont hire you period, that are never filled, and no one has the experience because employers no days wont train anyone they want their cake and they want to eat it too. Until the basic labor market recovers, a good majority of the working poor will not buy and the economy will not recover /rant
p.s. I can't wait for hyper inflation to take what little i own! yay secondary tax! /s - monkeyrun, on 10/29/2009, -5/+28DJIA recovering has absolutely nothing to do with the economy.
- ljkelley, on 10/29/2009, -3/+23Exactly. Foreclosures are at a record high. Oddly, none of the MSM reported on this...
http://consumerist.com/5391012/what-recovery-93784 ... - MercenarySlick, on 10/29/2009, -6/+25FFS. People seriously need to learn what a recession actually is. The term is thrown around so much that people have started to think any economic problems automatically mean "recession".
A recession is two or more consecutive fiscal quarters of negative growth in economic output (GDP). The US GDP grew by 3% in the last quarter, that means we've technically exited the recession. That's it. That doesn't mean economic problems are over for everyone or that we'll go instantly back to how things were in 2006, but we're LITERALLY out of the recession. - Barackalypse, on 10/29/2009, -14/+32Of course the Obama administration also said if we passed his multi-billion stimulus the unemployment rate would stay below 8%, and it just hit 9.8% and claims are still rising. And the US dollar index has declined 11% since Obama took office:
http://www.fxstreet.com/rates-charts/usdollar-inde ... - tgc1, on 10/29/2009, -2/+19We haven't even stabilized yet. Nevermind a recovery.
The government can come on and keep lying to us (ie. "the fundamentals of our economy are sound", "We're not in a recession" etc.) but the fact is, we're going to have to see a lot of money going into businesses. Cheap credit must become available again to businesses who need it, so they can hire on new staff and/or buy more product. Without that, people will remain unemployed and/or more businesses will be forced to close. And/or a reduction in available hours for current staff. Less product to buy, less sales. Thus the economy will continue to tank.
Right now the economy is in free fall. And until the work force goes back to work. No new taxes can be levied to pay back all this money the government has been giving away. Not many can spend money (how can you spend if you have no job?) and therefore sales will be driven down. Sales go down, tax revenue goes down. Tax revenue goes down, the government runs a deficit. The government runs too much of a deficit it can no longer function. If it cannot function, it is ***** and we are *****.
If the government had simply allowed the market to dictate the recovery. Maybe we wouldn't be in this mess. Sure it would have been a hard nut to crack. Seeing as since many of the major banks would have failed, two automotive companies would have been out of business. But there would be restructuring, new investment from foreign companies. The country would recover. But now, because the government and fed have been printing money like crazy. We're going to end up enduring a REALLY hard recession.
This is all on the banks. They were the ones who gambled. We are the ones who lose. Remember, socialize the losses, privatize the profits. That is exactly what happened. Do you think those rich ***** are crying over paying their bills? They are USING OUR MONEY to ***** pay their bills. Going on vacation and eating lavishly on business trips. All with the bailout money they were given (see AIG for example). Meanwhile getting record bonuses to boot.
You ask me if we're recovering? I say we're *****. - Flashtone, on 10/29/2009, -0/+12agreed, if you have a job please be thankful even if it sucks ass.
- kigabit, on 10/29/2009, -1/+13Here's a summary for you:
1. Positive. Economists *predicting* increase in global GDP in 2010, vs the decrease in 2009.
2. Positive. Economists *predicting* positive GDP growth in 2010, i.e. official end to the recession.
3. Positive. Past few months of manufacturing growth have been positive, indicating a shift from earlier this year.
4. Negative, but stabilizing. Travelers still wary, not traveling as much as last year, but the trend is lessening.
5. Negative, but stabilizing. Exports still decreasing, but at a lesser rate than earlier this year.
6. Positive. Stock market indicates cautious optimism by going up and being less volatile.
7. Negative. Automobile sales down, goes along with less traveling/spending in general.
8. Ambiguous. The volatility probably has to do with a lot of factors including the economy and our new president.
9. Negative. Massive bank failures are to be expected as they were the main cause of this recession.
10. Positive. Increased investment abroad means credit is becoming more readily available for projects.
Overall I think the best way to summarize this is that the lessening of negative trends and some newly positive indicators show that economists are right in thinking either Q4 2009 or Q1 2010 will be the official end of the recession. You could say summer/fall this year appears to have been the "trough" in our decline. Factors like unemployment historically take a lot longer to recover from recessions than, say, GDP growth. - jaytek13, on 10/29/2009, -9/+20"Ask the US government if the recession is ending and you’ll hear a resounding yes as the Obama administration rushes to claim an early victory"
Exaggerate much? - regeya, on 10/28/2009, -23/+34I'll get these out of the way in one comment for compactness' sake and for an automatic +100...
End the Fed.
Ron Paul 2012.
Creature of Jeckyll Island.
Beginning of the end.
End of empire.
America falls.
I'm sure I left a few out. - Barackalypse, on 10/29/2009, -1/+10He didn't, two of his chief economic advisers did, hence the "Obama administration":
http://www.time.com/time/business/article/0,8599,1 ... - WCJessie, on 10/29/2009, -6/+15Stimulus jobs overstated by the thousand AP reports today:
http://hosted.ap.org/dynamic/stories/U/US_STIMULUS ... - ramilehti, on 10/29/2009, -1/+9Your comment is more informative than the messy infographic.
Thank you. - Mazrin, on 10/29/2009, -1/+9Lots of economists on tonight.
- Barackalypse, on 10/29/2009, -11/+19Let me guess, you believed in hope and change too?
- norman619, on 10/29/2009, -3/+10Yeah because Obama only dwarfed all of Bush's spending in his first 6 months in office. Take off the partisian glasses and put down the kool aid.
- DiggerLater, on 10/29/2009, -3/+10My friends and I were so happy when we heard the recession is over! We pooled all of our money together and bought a celebratory taco.
- fragomatik, on 10/29/2009, -2/+9Well, here in Australia, they keep telling us it's just about all over, and that we have survived it relatively unscathed, and that the "chocolate ration will be increased to 20 grams". Apparently the billions made by selling all our coal to China, plus the billions spent on stimulus packages to all and sundry have done some good! Truly a tribute to the brilliant economic management by our Ministry Of Plenty...
...and interest rates have already started to rise again, and *that's* always a good sign, right? Right? - HouseofEl, on 10/29/2009, -9/+16He also made it very clear that these things wouldn't happen over night. I'm not apologizing for his methods, but the man hasn't been in office for even a year. Did everyone just forget about the mess this administration inherited? I'm certainly not saying Obama is perfect, but I also knew that no matter which won the election, that candidate had the hardest job ahead of him. We allowed this country to regress for years and now all of a sudden we want all of it fixed in six months.
- pitifulpulp, on 10/29/2009, -1/+8infographic has too much design and not enough making sense. lack of a clear visual hierarchy leaves reader more confused than when they started.
- ghostswg, on 10/29/2009, -1/+8Bush definitely contributed to it, but Bloodwine is right. We've been on this path for a long time and it is mixed with both Republican and Democrat presidents, although I would hope that every single president has not been on this path...
Oh and let's not forget our current president who is fulfilling his campaign promises: Hope and Change. He gave us a lot of hope and then a lot of change - just not the change we wanted or needed for the most part. Non-military spending is out of control and will even dwarf Bush's massive military spending during eight years.
Wake up.
Stop the spending! Our current administration is worse than the sub prime 'victims' at managing finances and having foresight!
Again, please stop the massive, bleeding wound in the U.S. called government spending! - covertbadger, on 10/29/2009, -1/+8You're wrong, he's right. The unemployment rate is not part of the formal definition of the term 'recession'.
- Bloodwine, on 10/29/2009, -1/+8Bush? What we are experiencing now has been building up for the past 30 years. Bush contributed to it, but he didn't single-handedly get us here.
- borez, on 10/29/2009, -0/+7Agreed I have no idea what the ***** that was saying.
- pwner, on 10/29/2009, -7/+13Kenyan Birth Certificate
Fema Death Camps
9/11 was an inside job
Fake Moon Landing
Wake up sheeple! - norman619, on 10/29/2009, -2/+8Nothing wrong with that as long as it is tempered with realism and logic.
- z0rk, on 10/29/2009, -0/+5Non defense spending for FY2008, including both wars was twice as much. If I'm remembering the numbers correctly defense spending was $699 billion, social(mandatory as it's listed in the source) spending was $1.4 trillion.
Source: http://www.whitehouse.gov/omb/rewrite/budget/fy200 ... - emezeske, on 10/29/2009, -0/+5Terrible, terrible infographic. The point of an infographic is that I should be able to look at it and instantly have an intuitive understanding of some data. This graphic actually accomplished the opposite of that goal; it was much harder to understand than if the same data was presented in a few well-labeled tables. Just because there's some snazzy artwork with the numbers doesn't make it an infographic.
- danimal317, on 10/29/2009, -1/+6During the Carter administration, the money supply was increased by 13%. To help stave off inflation, interest rates were raised to nearly 20%. In the last 500 days, we've increase the money supply by 120%. We cannot possibly recover from that.
- ThaATrain, on 10/29/2009, -2/+7Let's ban info graphics
- autokad, on 10/29/2009, -1/+6- US auto sales plummeted to previous levels after cash for clunkers ended
- Housing continues to decline again even before the tax credit has ended
- US consumer confidence dropped in the 40s, 90 signifies a strong economy
- Banks are still not making money off their banking operations (they aren't lending people money), but merely made money off growing equities fueled by low borrowing rates or selling their assets.
- Commodity prices are being fueled by Chinese consumption, not by US growth
- US trade deficit remains high
- Last week the big guys at places like GS sold stock off.
Until we create jobs in production that creates wealth, why are we talking about creating vampire (aka service) jobs that require production and wealth to pay for them? As in, we should be talking about balancing our trade deficit, not trying to give every american health insurance when we know Medicare/medicade/social security is going to bankrupt us in their own right.
http://knowledge.wharton.upenn.edu/article.cfm?art ...
If we are going to spend to end the recession, we have to spend in things that gives us long term benefits in growth and production, not in services that will require even further future taxes and funding, or paying people not to work (over 1 year unemployment benefits). You cant increase spending when you are growing poorer, and neither can a country.
Finance 101:
day 1: Trade deficit creates debt
example:
US - 10 Trillion$ national debt
China - 2 Trillion$ national surplus. - MercenarySlick, on 10/29/2009, -1/+6The US GDP is growing now. Your entire argument is moot. You know nothing about economics, let alone economic indicators and terminology. High unemployment does not mean recession if - get this - the economy is not receding. Hence the word "recession". Get your facts straight before you parade your ignorance like you just did.
- norman619, on 10/29/2009, -0/+5This isn't an "economic slowdown." It's a recession. Ther eis a diference.
- Deepmist, on 10/29/2009, -0/+5I think I'd prefer a table, a list, or even a graph.
- Lemonseamonkey, on 10/29/2009, -1/+5did anyone else think the empty bank was a golden giant squid? Only me? Okay
- herojon, on 10/29/2009, -0/+4Stock market increasing tells us that the rich speculators feel that they feel that the price of the assets they are buying will be higher in the future. It tells us nothing about the circumstances of the poor who have little to nothing at stake with stock prices. What this really means is that those who are speculating on the stock market anticipate steep inflation and would rather trade their dollars for an asset that will increase with inflation, then simply hold their dollars and allow them to lose value.
Sucks for the poor because it means their dollars (and wages) will lose value, and because we are coming off an extended period of low inflation, rational expectations about prices will not kick in until after the inflation becomes clearly visible on day to day purchases (food, utilities, clothes, and gas which is already showing it).
Translation: The rich will lose little or nothing as their assets will grow to approximately match inflation, while lower and middle working classes will pay for this recession through a temporary decrease in real wages. - MrFunStuff, on 10/29/2009, -0/+4Did it happen everywhere when Zimbabwe hyper-inflated it's currency, what about Argentina or Germany.The Fact is the U.S is expanding it's currency at a alarming rate, more than other countries. SO it is the one that is endanger of hyperinflation. History has shown us that all fiat currencies eventually go back to its original value 0.
- darkescaflowne, on 10/29/2009, -0/+4I can't tell if your being satirical or serious. Hmm......
- Barackalypse, on 10/29/2009, -3/+7@norman619, which information on that infographic is incorrect?
- zoomaKabu, on 10/29/2009, -1/+5Yes. The country is so far in debt and the trade deficit so high that it's going to take a decade just to stop the bleeding.
- Jnkns, on 10/29/2009, -0/+4we're not even near of being out of recession, I could even say we will face worst unemployment rates and inflation. Stimulus and measures are just tickling the problem. Greenback must get stronger to really do something about it.
http://www.tradeviewforex.com/cfdblog/post/2009/10 ... - norman619, on 10/29/2009, -0/+4Yeah because bills don't pay themselves.
- joculator, on 10/29/2009, -2/+6That's a rather typical experience in an economic slow-down for someone in your age group. Was the same way for me under Bush I.
- CaviMike, on 10/29/2009, -0/+4You had me until automatic +100
- bugalou, on 10/29/2009, -0/+3I wish the infographic fad would die already and we'd get back to meaningful, simple, easy to read graphs and charts.
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