The Stimulus Seems to have failed

BeAChooser said:
Media Bias anyone?

http://newsbusters.org/blogs/tim-gr...und-stimulus-forestalled-or-destroyed-million



The mainstream media is as STUCK ON STUPID as Obama. :D
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We spent a trillion to lose a million jobs?

n other words, a million per job lost.

That's pretty expensive. I think if we had put job loss out for competitive bidding, we could have got hatchet men to go around and fire people for quite a bit less, likely $1000 bucks a head.

I'd take that job, and net a cool billion. That's a thousand to one savings over the government cost, but hey, they don't see things in terms of profit and efficiency.

;)
 
Your stimulus dollars at work, folks …

http://www.washingtontimes.com/news/2011/may/24/stimulus-recipients-found-to-be-tax-cheats/

Stimulus recipients found to be tax cheats

One construction company that won multiple awards of money under President Obama’s 2009 stimulus program was delinquent on its federal tax bill to the tune of $700,000, even as a company executive was blowing hundreds of thousands of dollars at casinos.

Yet another company failed to pay taxes, entered into a payment plan with the Internal Revenue Service, and then repeatedly defaulted on that agreement - and still won stimulus contracts worth more than $1 million, according to a Government Accountability Office report released Tuesday.

All told, government investigators found that during the period they examined, one out of every six stimulus contract or grant dollars went to a known tax cheat, according to Sen. Tom Coburn, an Oklahoma Republican who, along with several colleagues, requested the GAO review.

The review found that at least 3,700 stimulus recipients owed a total of more than $757 million in taxes, but were awarded $24 billion in stimulus money.
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What do you expect from an administration that put a tax cheat in charge of the IRS and has numerous other tax cheats in high positions? :p

So how's Obama's stimulus working for you, folks? Still employed? :D
 
BeAChooser said:
http://www.businessinsider.com/new-signs-the-economy-is-slowing-down-2011-5?op=1



How can this be? We were promised the Stimulus would fix it! Maybe we should demand a refund and toss the shysters who made that promise out of office … and let them look for work like the rest of us in this stagflationary economy that they helped create? Yeah, that sounds GOOD. :D
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I can't say I would shun going to Geither's Gas Stop or the Bernanke Bar, or Obama's Magic Kingdom. Assuming their prices were competitive...

Never mind.

:D
 
BeAChooser said:
http://www.businessinsider.com/new-signs-the-economy-is-slowing-down-2011-5?op=1
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So many links on that page, so much wrongness. The wrongness includes:

  • Truncated axes on graphs (GDP growth)
  • Using "practically" to pass off an untruth (UK "practically in double-dip)
  • Cherrypicking statistics - ignoring the positive regional fed surveys
  • Multiple linking - reposting the same link many times
  • Making same claim for conflicting indicators. Rising commodity prices bad - increasing cost to industry. Falling commodity prices bad - indicating global slowdown
  • Using one or two weeks of data to indicate a change of direction
  • Making false claims "Europe is breaking apart. Enough said There."

In all a highly partisan site who will try to spin any news to their agenda and ignore anything with contradicts their blinkered view.
 
The Don said:
So many links on that page, so much wrongness. The wrongness includes:

  • Truncated axes on graphs (GDP growth)
  • Using "practically" to pass off an untruth (UK "practically in double-dip)
  • Cherrypicking statistics - ignoring the positive regional fed surveys
  • Multiple linking - reposting the same link many times
  • Making same claim for conflicting indicators. Rising commodity prices bad - increasing cost to industry. Falling commodity prices bad - indicating global slowdown
  • Using one or two weeks of data to indicate a change of direction
  • Making false claims "Europe is breaking apart. Enough said There."

In all a highly partisan site who will try to spin any news to their agenda and ignore anything with contradicts their blinkered view.
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But it looks like just a compilation of recent news reports that are bent in the direction of "economy worsening". It's not an article with an intro, analysis, and then conclusion and summary.

I'm not seeing some "highly partisian presentation" there.
 
Here's something that should provoke something other than crickets …

http://www.businessinsider.com/gdp-adjusted-for-inflation-2011-5

The headline GDP numbers the government releases every quarter are "real," meaning that they are adjusted for inflation.

The most recent real GDP number, for Q1, was weak: It was only 1.84% (annualized). … snip ...

The way the government calculates real GDP is to start with nominal GDP--the actual change in the output of the economy as measured by adding up all the actual sales prices ("nominal")--and then "deflating" this number by subtracting an estimated inflation rate. Thus, the government backs into the real GDP growth number, starting with nominal prices and then adjusting for inflation.

Well, the "GDP deflater" the government is using right now--the estimated rate of inflation--is only 1.9%. As anyone who has been to a supermarket of gas station recently can attest, this assumption is preposterously low. [BAC - yes indeed!] … snip …

So what would Q1 GDP have looked like if the government had used the government's own estimate of inflation for Q1 (5.7%), instead of 1.9%?

Q1 GDP would have been -1.82%.
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Still think that *stimulus* worked folks? Hmmmmmm?
 
BeAChooser said:
Here's something that should provoke something other than crickets …

http://www.businessinsider.com/gdp-adjusted-for-inflation-2011-5



Still think that *stimulus* worked folks? Hmmmmmm?
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I'm unable to follow your argument. You seem to be saying that the government is incompetant at lying. But I think everyone already knew that. As for those darn numbers....

About at this time in a inflation/deflation/stagflation cycle, everyone should realize that government propaganda is definitely part of the game (Incidentally I don't DISAGREE with that).

But you just have to use the numbers from shadowstats.com to get meaningful and useful results.
 
mhaze said:
You seem to be saying that the government is incompetant at lying.
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They are. But their lies are hidden by their willing accomplices in the mainstream media. So they get away with it time and time again.

By the way, notice the {crickets}? They're almost deafening. :D
 
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http://www.investors.com/NewsAndAnalysis/Article/573836/201105311856/Feeling-Better-.htm

Economy: Without a lot of fanfare, the Obama economic recovery officially turned 2 this month. Anyone think we're better off than we were two years ago?

On Tuesday, a trio of reports gave fresh evidence that the answer to this question is no.

Single family home prices dropped in March to their lowest level since April 2009; the consumer Confidence Index tumbled to a six-month low of 60.8; and regional manufacturing is slowing. In the Chicago area, it fell to its lowest level since November 2009.

… snip …

Obama promised way back in February 2009 that his $830 billion stimulus plan would unleash "a new wave of innovation, activity and construction" and "ignite spending by businesses and consumers."

In June 2010, he announced that the recovery was "well under way" and that it "is getting stronger by the day." A couple months later, Treasury Secretary Timothy Geithner penned a New York Times op-ed headlined "Welcome to the Recovery."

But the fact is that the Obama recovery is one of the worst ever. Certainly the worst since the Great Depression. It's so bad, in fact, that even 24 months after the recession officially ended there are few places beyond the stock market and corporate profits that have shown much, if any, improvement.

… snip …

Yet, incredibly, Obama continues to escape blame for this sorry state of affairs. A Rasmussen survey in May found 54% of the public still blames President Bush, while just 39% blame Obama's policies.
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Looks like Obama's not the only one Stuck On Stupid. But then most in the public are the product of a democrat controlled education system and they depend on a democrat controlled media for their information. So is that surprising? :mad:
 
BeAChooser said:
And however much it rebounds, the Obamaphiles will give Obama all the credit. :rolleyes:
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Given that we have only stalled these coming tsunamis....

  • Pension
  • Municipal
  • Commercial real estate
  • Social security
  • Single family real estate correct pricing
While printing money madly,

I do not think it matters what the children in the nursery are saying to each other.
 
Just thinking said:
Has anyone noted that housing values are now officially in a double dip?
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I admit to knowing for several months it was a double dip, or more precisely the bump was artificially created by the $8000 tax credit for new purchases that ended last summer...... but don't really follow the "official stats" so please explain.

What that mean, it is "officially" in a double dip? A statistically significant deviation downward for some standard defined length of time by some government agency?
 
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Well, I first head talk going back and forth a few days ago on CNBC and then CNN later in the day. (Language kept including the words "Double Dip" and "Now it's Official".) What they were referring to was this ...

Clear Capital® Reports National Double Dip

Report highlights include:

National quarterly home prices changed -4.9%; while year-over-year national price changes reached -5.0%.
National home prices have fallen 11.5% over the previous nine-month period, a rate of decline not experienced since 2008.
In a sign of the continued volatility and fragility of home prices, all the major Metropolitan Statistical Areas (MSA) tracked in this month’s report showed quarter-over-quarter price declines.
National REO saturation rate reaches 34.5%.
 
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http://www.nationalreview.com/corner/268533/more-unexpected-jobs-numbers-jonah-goldberg

Private businesses barely added jobs in May as large companies cut workers, according to a report released Wednesday. The news is sure to raise further fears about the second-quarter U.S. economy.

Private-sector jobs in the U.S. rose by just 38,000 last month, according to a national employment report published by payroll giant Automatic Data Processing Inc. and consultancy Macroeconomic Advisers.

Economists surveyed by Dow Jones Newswires had expected ADP to report a much larger job gain of 190,000 last month.
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Gee ... Could it be that the stimulus did exactly the opposite of what Obama promised? That it delayed the recovery? Afterall, back in 2009, Obama was saying the recovery would take months. Now we're hearing it will take years.
 
BeAChooser said:
Gee ... Could it be that the stimulus did exactly the opposite of what Obama promised? That it delayed the recovery? Afterall, back in 2009, Obama was saying the recovery would take months. Now we're hearing it will take years.
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Just how long can a recovery (?) be "delayed" before another timely recession comes around?

Man ... that's really bad jobs news; can't wait to see what U3 and U6 come in at on Friday, especially since 400,000+ weekly claims numbers are becoming the new normal.
 
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