US beats UK and Germany by a mile!!!
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Unfortunately, I'm talking about the decline in the first quarter's GDP. England posted its biggest drop in 30 years: 1.9%. Prediction of the end of the Empire abound. Germany was forced to up its predictions of total GDP shrinking for the year from 2.5% to 6.5% based on its 1st quarter results. Predictions for the fall of Merkle's government abound. But the US posted a 6.1% drop for the quarter Far worse than even the most pessimistic of economic quacks analysts had expected. This rate is almost as bad as the last quarter of the previous year and is the third quarter in a row of GDP shrinkage. Presumably the response to this dismal news -- and it is dismal -- from the White House will be to talk about its plans to spend more money on welfare, print more money to prop up dinosaurs; save money by spending less defending our southern border from invasion, or how the brand new Health & Human Services Secretary is already gaining the upper hand in their noble and courageous battle against the swine flu - by spending a billion and a half dollars.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Unfortunately, I'm talking about the decline in the first quarter's GDP. England posted its biggest drop in 30 years: 1.9%. Prediction of the end of the Empire abound. Germany was forced to up its predictions of total GDP shrinking for the year from 2.5% to 6.5% based on its 1st quarter results. Predictions for the fall of Merkle's government abound. But the US posted a 6.1% drop for the quarter Far worse than even the most pessimistic of economic quacks analysts had expected. This rate is almost as bad as the last quarter of the previous year and is the third quarter in a row of GDP shrinkage. Presumably the response to this dismal news -- and it is dismal -- from the White House will be to talk about its plans to spend more money on welfare, print more money to prop up dinosaurs; save money by spending less defending our southern border from invasion, or how the brand new Health & Human Services Secretary is already gaining the upper hand in their noble and courageous battle against the swine flu - by spending a billion and a half dollars.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
OK-- you are one of the more intelligent, calm, and objective individuals here so your opinion is valued-- so, my question is, in your honest opinion, how F***ED are we ????????????
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OK-- you are one of the more intelligent, calm, and objective individuals here so your opinion is valued-- so, my question is, in your honest opinion, how F***ED are we ????????????
catzarecute wrote:
how F***ED are we ????????????
• Mad Max roams the highway • Dogs sleeping with cats • End world as we know it • Plague and famine • The dead are reanimated hungry for the flesh of the living • Skynet takes over the world • The Matrix becomes reality • Susan Boyle becomes Miss Universe Oh, you were talking to Oakman.
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Unfortunately, I'm talking about the decline in the first quarter's GDP. England posted its biggest drop in 30 years: 1.9%. Prediction of the end of the Empire abound. Germany was forced to up its predictions of total GDP shrinking for the year from 2.5% to 6.5% based on its 1st quarter results. Predictions for the fall of Merkle's government abound. But the US posted a 6.1% drop for the quarter Far worse than even the most pessimistic of economic quacks analysts had expected. This rate is almost as bad as the last quarter of the previous year and is the third quarter in a row of GDP shrinkage. Presumably the response to this dismal news -- and it is dismal -- from the White House will be to talk about its plans to spend more money on welfare, print more money to prop up dinosaurs; save money by spending less defending our southern border from invasion, or how the brand new Health & Human Services Secretary is already gaining the upper hand in their noble and courageous battle against the swine flu - by spending a billion and a half dollars.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
But the US posted a 6.1% drop for the quarter
It is not as bad as you think. 6.1% is the annualized rate, i.e., basically they take the quarterly drop and multiply by 4. Still, an annual fall of around 6% is plenty bad enough. Australia, you will be pleased to know, is doing better than most other developed economies. GDP declined by just 0.5% in the December quarter (this is the actual decline, not an annualized measure). This is partly because our banks are solvent, and partly because the Federal government is throwing money at the problem in a series of fiscal stimulus packages --- as all countries should be.
John Carson
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Oakman wrote:
But the US posted a 6.1% drop for the quarter
It is not as bad as you think. 6.1% is the annualized rate, i.e., basically they take the quarterly drop and multiply by 4. Still, an annual fall of around 6% is plenty bad enough. Australia, you will be pleased to know, is doing better than most other developed economies. GDP declined by just 0.5% in the December quarter (this is the actual decline, not an annualized measure). This is partly because our banks are solvent, and partly because the Federal government is throwing money at the problem in a series of fiscal stimulus packages --- as all countries should be.
John Carson
John Carson wrote:
It is not as bad as your think. 6.1% is the annualized rate
Arrrg. I thought since they were comparing it to the last quarter of the year. . .never mind. It was a dumb mistake. I should've known better. :-O Interesting that Germany annualizes its 2.5% quarterly drop to an annualized rate of 6.5%, eh?
John Carson wrote:
because the Federal government is throwing money at the problem in a series of fiscal stimulus packages --- as all countries should be.
Of course they should! - otherwise the countries that are printing money will discover that their bond rates are being driven steadily north and its citizens will find out that they can't buy as much as they used to. But if all countries will do it, maybe no-one will notice the difference - except when they have to exchange wheelbarrows for wallets ;) By the way, our bond rates topped 3% today - how are yours doing?
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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catzarecute wrote:
how F***ED are we ????????????
• Mad Max roams the highway • Dogs sleeping with cats • End world as we know it • Plague and famine • The dead are reanimated hungry for the flesh of the living • Skynet takes over the world • The Matrix becomes reality • Susan Boyle becomes Miss Universe Oh, you were talking to Oakman.
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OK-- you are one of the more intelligent, calm, and objective individuals here so your opinion is valued-- so, my question is, in your honest opinion, how F***ED are we ????????????
catzarecute wrote:
you are one of the more intelligent, calm, and objective individuals here
My kids used to say something like that - do you want to borrow money, or keys to the car?
catzarecute wrote:
how F***ED are we ????????????
Short-term? We're not that bad off. What Obama's doing is likely to jumpstart the economy and I expect the unemployment numbers (the real measure of economic woe, imho) to start dropping, just in time for the 2010 elections. Long-term? We're fucked six ways from Sunday. Our money is worth less and less - by the time Obama gets through, I will be extremely surprised if a dollar can buy what 50 cents could in 2000. Our public debt to GDP ratio is moving steadily north and I expect the curve to steepen. We can no longer afford the military we need to defend ourselves in the case of attack and China is using the money we have shipped over there to build a modern army and navy second to none. They also own enough of our bonds to feel betrayed and extremely angry as we continue to inflate our currency supply to the point where their holdings become worthless. Wars have started over less provocation. Luckily, Australia and India are our allies and will write very strong letters to the Chinese Premiere if they invade our west coast. Domestically, the result of Obama's programs after putting some Americans back to work, will be to make the US even more inviting to Mexicans, while making our borders even more porous, and ultimately that will create more pressure for the creation of the nation of Aztlan. All we need is one major disaster (maybe the Swine flu, but there's no reason yet to yell 'the sky is falling') like the San Andreas Fault letting go, or a major hurricane slamming into Manhattan (both will happen, the only question is "when?") not only to be fucked, but dumped out of the car and told to walk home afterwards.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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John Carson wrote:
It is not as bad as your think. 6.1% is the annualized rate
Arrrg. I thought since they were comparing it to the last quarter of the year. . .never mind. It was a dumb mistake. I should've known better. :-O Interesting that Germany annualizes its 2.5% quarterly drop to an annualized rate of 6.5%, eh?
John Carson wrote:
because the Federal government is throwing money at the problem in a series of fiscal stimulus packages --- as all countries should be.
Of course they should! - otherwise the countries that are printing money will discover that their bond rates are being driven steadily north and its citizens will find out that they can't buy as much as they used to. But if all countries will do it, maybe no-one will notice the difference - except when they have to exchange wheelbarrows for wallets ;) By the way, our bond rates topped 3% today - how are yours doing?
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
By the way, our bond rates topped 3% today - how are yours doing?
http://www.rba.gov.au/Statistics/indicative.html[^] Rates are all a lot lower than they were a year ago and about 1 percentage point below where they were 6 months ago.
John Carson
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catzarecute wrote:
how F***ED are we ????????????
• Mad Max roams the highway • Dogs sleeping with cats • End world as we know it • Plague and famine • The dead are reanimated hungry for the flesh of the living • Skynet takes over the world • The Matrix becomes reality • Susan Boyle becomes Miss Universe Oh, you were talking to Oakman.
kmg365 wrote:
• Susan Boyle becomes Miss Universe
:~
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catzarecute wrote:
you are one of the more intelligent, calm, and objective individuals here
My kids used to say something like that - do you want to borrow money, or keys to the car?
catzarecute wrote:
how F***ED are we ????????????
Short-term? We're not that bad off. What Obama's doing is likely to jumpstart the economy and I expect the unemployment numbers (the real measure of economic woe, imho) to start dropping, just in time for the 2010 elections. Long-term? We're fucked six ways from Sunday. Our money is worth less and less - by the time Obama gets through, I will be extremely surprised if a dollar can buy what 50 cents could in 2000. Our public debt to GDP ratio is moving steadily north and I expect the curve to steepen. We can no longer afford the military we need to defend ourselves in the case of attack and China is using the money we have shipped over there to build a modern army and navy second to none. They also own enough of our bonds to feel betrayed and extremely angry as we continue to inflate our currency supply to the point where their holdings become worthless. Wars have started over less provocation. Luckily, Australia and India are our allies and will write very strong letters to the Chinese Premiere if they invade our west coast. Domestically, the result of Obama's programs after putting some Americans back to work, will be to make the US even more inviting to Mexicans, while making our borders even more porous, and ultimately that will create more pressure for the creation of the nation of Aztlan. All we need is one major disaster (maybe the Swine flu, but there's no reason yet to yell 'the sky is falling') like the San Andreas Fault letting go, or a major hurricane slamming into Manhattan (both will happen, the only question is "when?") not only to be fucked, but dumped out of the car and told to walk home afterwards.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
I feel quite OK living in such a dangerous country as I do. :)
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OK-- you are one of the more intelligent, calm, and objective individuals here so your opinion is valued-- so, my question is, in your honest opinion, how F***ED are we ????????????
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I feel quite OK living in such a dangerous country as I do. :)
Brady Kelly wrote:
feel quite OK living in such a dangerous country as I do
I could feel quite OK with you living in such a dangerous country, too. Would you mind if I took out an insurance policy on you?
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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John Carson wrote:
It is not as bad as your think. 6.1% is the annualized rate
Arrrg. I thought since they were comparing it to the last quarter of the year. . .never mind. It was a dumb mistake. I should've known better. :-O Interesting that Germany annualizes its 2.5% quarterly drop to an annualized rate of 6.5%, eh?
John Carson wrote:
because the Federal government is throwing money at the problem in a series of fiscal stimulus packages --- as all countries should be.
Of course they should! - otherwise the countries that are printing money will discover that their bond rates are being driven steadily north and its citizens will find out that they can't buy as much as they used to. But if all countries will do it, maybe no-one will notice the difference - except when they have to exchange wheelbarrows for wallets ;) By the way, our bond rates topped 3% today - how are yours doing?
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Just an aside, what is meant by the term 'bond rates'?
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catzarecute wrote:
how F***ED are we ????????????
• Mad Max roams the highway • Dogs sleeping with cats • End world as we know it • Plague and famine • The dead are reanimated hungry for the flesh of the living • Skynet takes over the world • The Matrix becomes reality • Susan Boyle becomes Miss Universe Oh, you were talking to Oakman.
there's been far fewer sightings of unicorns this year.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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Brady Kelly wrote:
feel quite OK living in such a dangerous country as I do
I could feel quite OK with you living in such a dangerous country, too. Would you mind if I took out an insurance policy on you?
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Not in the least. In fact, just send me your account details for a debit order and $200 to cover admin and broker fees, and I'll set you up with one.
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Oakman wrote:
But the US posted a 6.1% drop for the quarter
It is not as bad as you think. 6.1% is the annualized rate, i.e., basically they take the quarterly drop and multiply by 4. Still, an annual fall of around 6% is plenty bad enough. Australia, you will be pleased to know, is doing better than most other developed economies. GDP declined by just 0.5% in the December quarter (this is the actual decline, not an annualized measure). This is partly because our banks are solvent, and partly because the Federal government is throwing money at the problem in a series of fiscal stimulus packages --- as all countries should be.
John Carson
John Carson wrote:
It is not as bad as you think. 6.1% is the annualized rate
but was predicted to be 5% to 5.5%
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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Just an aside, what is meant by the term 'bond rates'?
Brady Kelly wrote:
Just an aside, what is meant by the term 'bond rates'?
The interest rate that must be offered to entice people to buy them (i.e. loan you money). They're often set at auction ("I am prepared to let someone loan me ten million denari - who among you will charge me the least when I pay it back?") and, when no term is mentioned, ten years is assumed. Obviously the higher the rate, the less the "full faith and assurance" of the government offering the bonds is trusted.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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kmg365 wrote:
• Susan Boyle becomes Miss Universe
:~
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there's been far fewer sightings of unicorns this year.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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Why is the rate of death for ugly people lower?
You really gotta try harder to keep up with everyone that's not on the short bus with you. - John Simmons / outlaw programmer.