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341 Comments
- davidg11, on 05/05/2008, -2/+161Oh...NAGGERS....
- aldenhg, on 05/05/2008, -35/+175Check it against inflation and you'll change your tune.
- frenchkick, on 05/05/2008, -84/+218goddamn
we are not in a recession people
from wikipedia:In macroeconomics, a recession is a decline in a country's real gross domestic product (GDP), or negative real economic growth, for four or more successive quarters of a year.
our GDP has not been down in the last few months!
check the facts! - whataboutdave, on 05/05/2008, -6/+106Congratulations you understood the joke.
- flossdaily, on 05/05/2008, -17/+81I think the problem is that the GDP is no longer an accurate measurement of the economic health of the majority of Americans.
Republicans claim that the economy is doing fine because the rich and the ultra-rich are doing quite well for themselves.
Because there is such an uneven distribution of wealth in this country, the success of the wealthy looks like success for the nation- but in fact MOST people in the country are hurting, but because their slice of the pie is so small, it doesn't really move the needle on the economic indicators which detect the nation's combined wealth. - cptshamrock, on 05/05/2008, -8/+71Even if we were in a recession, people don't seem to realize how basic economics work. There will be recessions and periods of growth its something that cannot be avoided, there are ways to curb growth and thus make any recession not as strong.
- puppyfox, on 05/05/2008, -8/+59Obviously this is the Italian version of the game ("La Ruota della Fortuna") and the answer is "Recessione". Good work!
- PhoenixAvatar2, on 05/05/2008, -6/+54Oh yeah. A recession that took seven years to magically materialize. Everyone knows that there's a seven year buffer on changes to the economy.
- seanc6610, on 05/05/2008, -5/+47if the dollar is worth less, and our GDP stays about the same, then it is actually worth less too. inflation has a lot to do with it.
- vanimal, on 05/05/2008, -0/+41Maybe he's aware of the recession and is trying to stimulate the economy by spending more money on vowels.
- redcolumbine, on 05/05/2008, -16/+55Sure thing, Mr. President! Sign here for a nice affordable loan. - Bank of China
- bgolds99, on 05/05/2008, -4/+432 comments. First off, a recession is defined as a negative growth for two, not four, consecutive quarters. Second at aldenhg, the GDP is measured in Real GDP. This mean it already accounts for changes in the price index, aka inflation or deflation. Nominal GDP is what you are talking about; no inflation taken in account for. The GDP has stayed at a constant .6% GROWTH for the last two quarters, therefore it is impossible for us to be in a recession unless the next two quarters (including this one) are negative growth. I swear, our education system should make all high schoolers take Macroeconomics 101, because I hate people who don't know anything about economics but talk like they do...
- voncheese, on 05/05/2008, -3/+40Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that's what they decided to do.
The ten men drank in the bar every day and seemed quite happy with the arrangement, until on day, the owner threw them a curve. "Since you are all such good customers," he said, "I'm going to reduce the cost of your daily beer by $20."Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so:
The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.
"I only got a dollar out of the $20,"declared the sixth man. He pointed to the tenth man," but he got $10!"
"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got ten times more than I!"
"That's true!!" shouted the seventh man. "Why should he get $10 back when I got only two? The wealthy get all the breaks!"
"Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!"
The nine men surrounded the tenth and beat him up.
The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
David R. Kamerschen, Ph.D.
Professor of Economics
University of Georgia - inactive, on 05/05/2008, -12/+45LMAO the irony of that statement is priceless!
- inactive, on 05/05/2008, -10/+43Idiot, I used it correctly. He is upset that liberals always find a way to mess something up and blame it on somebody else. This is ironic because, in fact, he is currently blaming someone else for a mess that conservatives made. As someone who opposes that sort of thing, one would not expect him to act in the same manner. WTF is it with you overzealous grammar Nazis who jump on someone for using the word "irony" regardless of whether the usage was correct or not?
- SRSco, on 05/05/2008, -20/+49The recession can be denied because we aren't in one.
- PDAIsAOk, on 05/05/2008, -6/+35A big part of the recession scare was the supposed housing crash. But the # of homeowners has just returned to its original # prior to all the sub-prime loans that were given out to people that shouldnt have been given a loan in the first place. They got some homes, didnt pay, lost their homes, everyone else is business as usual. The media just needs a crisis or scandal to cover. They are too stupid to cover things that actually matter so they have to go for cheap thrills
- KokomoNYC, on 05/05/2008, -5/+33That's right! We just need to grow more barley!
- Retnuh730, on 05/05/2008, -7/+34I hate how obvious comments like this get dugg up like crazy, while the actually smart and funny ones usually go unnoticed.
- Beatmiser, on 05/05/2008, -6/+30We are not in a recession. The economy experienced growth last month. Albeit a tiny amount of growth, but growth nonetheless, therefore we are not in a recession. We are seeing some inflation, that much is true, but as liberal as I am, even I know the R word is just fear mongering from all sides at this point.
- Conwaysb0718, on 05/05/2008, -5/+28ya think?
- Gryffydd, on 05/05/2008, -1/+23"In macroeconomics, a recession is a decline in a country's real gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year."
http://en.wikipedia.org/wiki/Recession
So yeah, the recession can be denied if you take the actual definition of Recession. - aliengoods, on 05/05/2008, -12/+33Yes, taking the country into a recession is much better than getting laid. Moron.
- doomsquirrel, on 05/05/2008, -0/+21Certain people say we're in a recession. (Up for debate, not touching that.) Bush continues insisting we're not. The cartoon implies that Bush can't recognize (or is ignoring) what's right in front of his face.
- LLLSecretChimp, on 05/05/2008, -1/+20Sure, if you want the economists' definition of recession. The journalists' definition of recession is "economic performance under Republican administrations during election years."
- sourceholder, on 05/05/2008, -5/+23Wait, I don't get it...
- aragonii, on 05/05/2008, -8/+25it is not a recession, it is BAGEL.
-quote from "The West Wing", not stupidity on my part. - inactive, on 05/05/2008, -31/+46Mirror in case:
http://image.linkinn.com/userfile/pictures_0805/Im ... - cerejota, on 05/05/2008, -8/+23"A recession is a decline in a country's real gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year."
We had 0.6 percent growth in the last two quarters (2007 IV and 2008 I) according to the Bureau of Economic Analysis (http://www.bea.gov). So its strictly true that there is no recession. However, growth underneath one percentage point is growth well within the margin of error, and in the case of the USA, well beneath the birth rate. It means the per-capita real GDP has actually fallen. So hence there is a mild or borderline recession.
In any case, the situation is much worse than what your triumphalism would argue for. - aldenhg, on 05/05/2008, -3/+18That's why I've stopped commenting as much as I used to. There's no discussion anymore, just "OMG LOL I think that's really funny!" for the first 15 comments, and then they all have replies of a similar ilk. All the idiots with more time on their hands read the upcoming stories, so once the story hits the front page it's got a bunch of retarded comments stacked up, so I don't even bother joining in. *sigh*
- BohicaTwentyTwo, on 05/05/2008, -1/+16That's not Ron Paul. Its Ross Perot.
- jmkiii, on 05/05/2008, -2/+16was too
- souljaboytellem, on 05/05/2008, -2/+16I forgot my cookies and gold stars, I'll be right back
- elnerdo, on 05/05/2008, -1/+14"This recession can't be denied even if the president can't bring himself up to recognize it."
(Since there are so many irrelevant comments before mine, I figured I'd quote it, anyway).
The president is dumb, I'll give you that, but he's not blind. He, (like all current politicians) knows that there is a recession, BUT what you fail to understand is that if an elected official (or somebody like the freaking president) actually SAID that there's a recession, the entire stock market would panic. The idea is that if our government accepts that there's a recession, then a lot of investors will start selling, and then the recession will get worse. It's in the best interest of the country for our elected officials to continue to deny that we are in a recession. - an0nymous, on 05/05/2008, -0/+13The time to curb growth was years ago. Now it's consequences time.
- thcobbs, on 05/05/2008, -3/+15Funny how "recession" now means that we aren't in an economic boom.
- GraveyBrains, on 05/05/2008, -3/+15Its that word "real" in the definition thats kicking us in the nuts. As long as inflation is out growing the GDP the GDP isn't "really" growing at all, leaving us with a recession
- Conwaysb0718, on 05/05/2008, -2/+14yea, followed up with "see you tomorrow!" said simultaneously.
- slantyeyed, on 05/05/2008, -4/+15who's that, H. Ross Perot?
- halleyscomet, on 05/05/2008, -3/+14"It was with Clinton that the policy of favoring China's imports started. "
No, that was Nixon.
"It was under Clinton that the twin stock market/real estate bubbles started"
Wrong again. While the it's pathetically simplistic to say they started at a specific point in time, as both bubbles had numerous contributing influences, most of the origin points can be traced back to the first Bush. Those bubbles were a long time in the making and took a long time to burst. H.W's deregulation had a lot to do with it. - jazzboyrules, on 05/05/2008, -5/+16At the first glance, you digg username looked like frenchchick.
- thatsmyaibo, on 05/05/2008, -2/+12We are not in a recession. We are on the brink of one. The economy isn't strong but we certainly aren't in a recession. Once the housing markets pick up again and people are smart enough to buy houses they actually CAN afford, things will be ok. We just need to work on the national debt so we can be more self sufficient rather than at the hands of China.
- ameba, on 05/05/2008, -1/+11and he still continues to buy
- twertyto, on 05/05/2008, -4/+14The word was used correctly. When something is ironic it tends to be opposite it's intented meaning. His second sentence is exactly that. It's ironic.
- BlackJackJester, on 05/05/2008, -0/+10The gas prices are more a function of the value of the dollar going down than anything else.
- inactive, on 05/05/2008, -3/+12You're also not the economy of the USA, not sure if you're aware of this....
- ArcOrion, on 05/05/2008, -1/+10Uh, what? India's total GDP is just under three trillion. Exaggeration much?
https://www.cia.gov/library/publications/the-world ... - FlagrantDrugUse, on 05/05/2008, -2/+11Which has nothing to do with our income disparity...
- jazzboyrules, on 05/05/2008, -1/+10*your
/sorry - flossdaily, on 05/05/2008, -0/+8don't talk to him, just digg him down and report him as offensive. He isn't contributing anything to the conversation.
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