23 Nov 09
Originally posted by sh76Sorry, but that's just spin. In the context that he said it he was obviously trying to play down the recession. He was referring to what people are usually talking about when they mention the "fundamentals of the economy" Economic indicators, all of which were dismal.
Except that he was right. The fundamentals of the US economy are and were strong.
When the Yankees lose 3 games in a row, they're still fundamentally a strong team. When they have a bad year, they're still a strong franchise.
By the way, kudos to you. Your spin was much better than his team. Their explanation for such a laughable statement is that - by "fundamentals" he meant the "American worker." They then went on nationalistic speeches about how the American worker is the best in the world, etc.
So when McCain said "the fundamentals of our economy are strong" he was saying, "The American workers are strong"
23 Nov 09
1 edit
Originally posted by sh76Yes, even though the team had lost a few games in a row, McCain was right. But why did he emulate George Steinbrenner from the 70's and 80's? When all the critics demanded that McCain trade half the team, and he responded by announcing that he wanted to postpone all the games for the upcoming week, but then played the games anyway when the other team showed up to play. It also didn't help that he made Sarah Palin the team's clean-up hitter instead of Reggie Jackson.
Except that he was right. The fundamentals of the US economy are and were strong.
When the Yankees lose 3 games in a row, they're still fundamentally a strong team. When they have a bad year, they're still a strong franchise.
24 Nov 09
Originally posted by zeeblebotI knew chicken little would show up eventually.
all the comments at the OP's link are negative, including this one:
Posted by: morphylius | November 23, 2009 12:13 PM
Why should I consider this 10.1% jump good news? "First time home buyers" are people who are young and/or a poor credit risk. In other words, if unemployment increases next year, they are the ones most likely to lose their jobs. That would add significantly to the 14% of homes in foreclosures right now.
24 Nov 09
you missed a headline.
---
http://www.usnews.com/money/blogs/the-home-front/2009/11/18/behind-the-home-building-shocker.html
Behind the Home Building 'Shocker'
By Luke Mullins
Posted: November 18, 2009
The fitful nature of the housing sector's healing process was apparent Wednesday when a government report on new-home construction came in much weaker than economists had expected. The Commerce Department reported that October housing starts dropped nearly 11 percent from September and almost 31 percent from a year earlier. "The headline number is a shocker," Patrick Newport, U.S. economist at IHS Global Insight, said in a report. Here are four things you need to know about the development:
...
24 Nov 09
Originally posted by sh76I guess that just depends on what he meant by fundamentals. I think a pretty strong case can be made that the fundamentals of the banking and financial sector were not sound at all. The same could be done for the residential construction sector as well.
Except that he was right. The fundamentals of the US economy are and were strong.
When the Yankees lose 3 games in a row, they're still fundamentally a strong team. When they have a bad year, they're still a strong franchise.
I know he later said something about how he meant that the spirit of the American worker was strong but we all know that was just political nonsense.
BTW I agree with pretty much everything else you've written in this thread. I'll be very surprised if Obama makes a serious effort to tackle deficits. More likely, he'll make a few meager concessions and then try to spin the inevitable decrease in deficits that comes as an economy exits recession. It's not anti-Obama thing. It's a political reality.
24 Nov 09
Originally posted by USArmyParatrooperThanks. Maybe I should get a job working for a campaign's media relations department.
Sorry, but that's just spin. In the context that he said it he was obviously trying to play down the recession. He was referring to what people are usually talking about when they mention the "fundamentals of the economy" Economic indicators, all of which were dismal.
By the way, kudos to you. Your spin was much better than his team. Their expl ...[text shortened]... damentals of our economy are strong" he was saying, "The American workers are strong"
The Couric interview was done after Palin has been sleep deprived for 3 days.
No, the White House didn't mean to ban Fox news from that meeting. They means that the door should be closed so wild foxes didn't enter the building.
McCain knew perfectly well how many houses he owned. He was just hesitating to think about whether the servants' houses counted separately.
How am I doing?
24 Nov 09
Originally posted by zeeblebotWait. Who, exactly is morphylius?
Posted by: morphylius | November 23, 2009 12:13 PM
Why should I consider this 10.1% jump good news? "First time home buyers" are people who are young and/or a poor credit risk. In other words, if unemployment increases next year, they are the ones most likely to lose their jobs. That would add significantly to the 14% of homes in foreclosures right now.
- Joined
- 07 Jan 08
- Moves
- 34575
24 Nov 09
Originally posted by sh76If I'm one of the many millions that are out of work then home sales are not a reflection of any kind of recovery for me. Quite the opposite, in fact.
http://voices.washingtonpost.com/economy-watch/2009/11/oct_existing_home_sales_jump_r.html
[b]Oct. existing home sales jump record 10.1 percent.
Yes, the $8,000 incentive could be a reason, but maybe, just maybe, the sky is not falling on the great capitalist economic system we in the Western World have built.[/b]
Recovery will happen when employment recovers, regardless of the semantics and doublespeak used by those who are obliquely affected by the recession.
24 Nov 09
Originally posted by BadwaterYou have it backwards. Employment will recover after we have a recovery. That's the way it works. Look it up.
If I'm one of the many millions that are out of work then home sales are not a reflection of any kind of recovery for me. Quite the opposite, in fact.
Recovery will happen when employment recovers, regardless of the semantics and doublespeak used by those who are obliquely affected by the recession.
24 Nov 09
Originally posted by BadwaterWhat if you were one of the many millions who were out of work during the peak of the "irrationally exuberant" economy? Even during the best of times, the unemployment rate rarely gets below 4%.
If I'm one of the many millions that are out of work then home sales are not a reflection of any kind of recovery for me. Quite the opposite, in fact.
Recovery will happen when employment recovers, regardless of the semantics and doublespeak used by those who are obliquely affected by the recession.