the "growth" in the economy since king george was appointed

[leftofthedial]

has been entirely illusory. like the "growth" during ronnie raygun's reign, it was just trillions of dollars of hot checks given to the wealthy. now, the con is ending and the mythologizing will begin.

[2Design]

1. money came from over inflated housing created by Greenspan at the kings

request - that arm around his shoulder was to let greenspan know what would happen if he did not follow 'orders' - careers killed, people died mysteriously in plane crashes or did not get into a college of their choice or a child was blocked from some opportunity - yes they all rolled over for the corporate interests

[nightrider767]

2. How Bout the "stimulus" package....

No one's talking about the fundamental causes of this recesion....

Look for the wealthy to over-profit yet again.

The new Third World.....

These A-holes are gonna gut the son of a bitch.

[Lasher]

3. The 35% GDP growth since 2001 is accounted for by corresponding growth in the M3 money supply

In the first six years of the Clinton administration, 13.7 million jobs were created. In the same period, under Bush, only 3.7 million jobs were created. Barely keeping up with population growth, if that. From 2001 to 2005 median income for people under 65 went down $2,000.

Under Clinton, the Dow Jones went up 324 percent. Wall-to-wall, after the dot.com bubble burst, it more than tripled in value. Since 2001 the Dow Jones is up just 10 percent. Adjusted for inflation, that's absolutely flat.

If jobs have not increased, salaries have gone down, and the value of stocks has not risen, where is that 35 percent growth in the economy?



A quick look at the above chart of its growth, and assuming its trajectory continued, clearly shows that the M3 grew by something in the range of 35 percent. The entire growth of the economy under Bushenomics is accounted for by growth in the money supply.

http://www.alternet.org/workplace/74262?page=entire

[Hydra]

5. This is what makes me LMAO when listening to them claim the sky ISN'T falling

They don't adjust for inflation, and I'm sure the devalued dollar would make it look even worse.

You can't have jobs shipped out or closed down, people having to take lower paying jobs than they are qualified for and have no alternative way to make money(tech bubble, housing bubble), soaring unemployment(which is being misreported, too) and price of living going through the roof...and expect the economy to expand.

[Lasher]

6. Lots of funny games.

In 2001 food and energy prices were dropped from inflation calculations. But wages are still part of it so it looks like a good thing when median wages drop $2K between 2001 % 2005. How handy. And offshore factory production of US-owned companies is counted in US GDP. I kid you not.

Selling supply side snake oil as cover for handing all the nation's wealth to the richest 10%.

[Hydra]

7. Just goes to show you

The numbers can say ANYTHING you want them to.

I hadn't heard about the offshore companies counting in the GDP, though. That one does hit me a bit like Falwell blaming 9/11 on the gays, feminists, etc...what f***ing universe is this???

[Lasher]

8. Phantom GDP

Here's the article I was thinking of:

http://www.businessweek.com/magazine/content/07_25/b4039001.htm?chan=top+news_top+news+index_businessweek+exclusives

[fasttense]

4. It is interesting that no one was talking "stimulus package"

until the stock market started suffering.