1 You cannot honestly expect growth in an economy where everything mined, drilled or manufactured is subject to so much regulation that nothing is mined, drilled or manufactured.  A service economy is a dead economy.

2 I'm the cock of the walk, baby.

3 Winning!

Wait. What?

4 Essentially zero.  Woo woo!  Put the Barry shoosh in the middle of it!

5

Something tells me that Obama would have a hard time staying in rhythm. 

The instrument I picture him with is the vuvuzela.  

6 By the way, Barry should not be on cowbell.  I've seen him dance.  Guy's got no rhythm at all.

7 Zero Hedge has had a link to the live negotiations.  Haven't been able to watch but today I thought it might be feasible. 

And then, then they put up this video describing the situation in DC and well, I had to double check that I wasn't here.   link

8 (BTW, Obama: Since you've proclaimed the recession ended two years ago, you really can't now claim this second recession is the same recession as the one you began with.)

But we can.  We aren't bound by the truth.  We are the truth.

9 Let me be *head swivel* perfectly clear.  *head swivel* We're only just now *head swivel* beginning to understand how *head swivel* terrible this inherited economic crisis is. 

10

BTW, Obama: Since you've proclaimed the recession ended two years ago, you really can't now claim this second recession is the same recession as the one you began with.

Just watch.

 

11

0.0--this is truly President Blutarsky's economy. 

12 Only one thing for the MFM to do:  lower the bar.

13 I'm pretty certain that GWB has been tinkering with the economy over the past two and a half years.  How else could the stimulus not work?  Huh?  Splain me that?

14 Zero?

You rang?
- President Zero

15 could not sleep last night.  was told it could be in the negative numbers and was definitely in the single digits.  having been told that by several people, when the number came out, it didn't look all that bad....

16 The economy needs to grow at a rate of 2.5 percent or better on a sustained basis to chip away

You act like a prima donna
Playin' so hard to get
Sittin' so cool and nonchalant
Draggin' on a cigarette

17
♪ Don't Stop Thinking About Tomorrow ♪

18 Dear Government,

In regards to the economy, nobody wants to play the game if you keeping changing the rules on them.

Regards Go Fuck Yourselves,

Lemmiwinks

19 Bush!  He's insidious.

20 Pretty obvious that the "last" recession is still the current one. Except that the "recession" is really a depression that is now entering its fourth year. Is this really so hard for the MFM to understand?

21 Data released on Friday showed the 2007-2009 recession was much more severe than prior measures had found, with economic output declining a cumulative of 5.1 percent instead of 4.1 percent.

How does that help Obama? He and his party have been running congress, which drives domestic policy, since 2007.

22

Heh. The People's Cube. I almost forgot about that.

"Keep Tibet Progressive". I doubt progressives(D) would understand what that means.

 

23 Rock and Roll Never Felt So Good

24
2012 was supposed to be all about illusions.

The illusions of recovery and good times and prosperity. This darned debt issue is throwing a monkey-wrench in those plans.

25 He's going to completely out-Carter Carter.

The only question is how big a milk-sop the GOP will put forward to beat him in 2012.

26 Obanomics - 0% growth and 20% unemployment. Good thing we voted for change from those miserable Bush years with their 5% growth and 4.5% unemployment!

27 Holy Shit. Is that Ace 'Tea Party' Spades talking the talk?  Holding the GOP Establishment on the fire?

28 Pretty obvious that the "last" recession is still the current one. Except that the "recession" is really a depression that is now entering its fourth year. Is this really so hard for the MFM to understand?


It will officially become a depression the moment a Republican president takes office.

29 Why August 2nd is the big deadline;

Herbie Hancock, Jennifer Hudson, OK Go set for Obama birthday fundraiser

Herbie Hancock, Jennifer Hudson and OK Go, three artists with Chicago roots, will head up the entertainment portion of a planned birthday party and fundraiser celebrating the president's 50th birthday on August 3rd.

30 Pretty obvious that the "last" recession is still the current one. Except that the "recession" is really a depression that is now entering its fourth year. Is this really so hard for the MFM to understand?

Posted by: Fresh Air at July 29, 2011 12:53 PM (oj3O1)

Hey, everyone I know in DC is getting raises and promotions...what recession?

31 Instead of getting hammered for a shit economy, the Prez gets to have press conferences scolding those extremist Republicans who want to take your SS check away. This country sure is fucked up.

32

These economist are about as good at their jobs as the weather forcaster on the evening news.  The only job you can hold down and be WRONG half of the time.

33 A few more victories like this and we are undone.

34 Mondull won his only his own state in '84.  How many electoral votes does Indonesia have?

35 If you are on twitter check out what @BarackObama is doing.  They  are organizing a DNS attack on Republican twitter accounts. (h/t Gabe)

36 (BTW, Obama: Since you've proclaimed the recession ended two years ago, you really can't now claim this second recession is the same recession as the one you began with.)

Oh yes we can! Eat your peas!

37

Posted by: huerfano at July 29, 2011 12:48 PM (aZLY2)

Bingo.... service economies do not create wealth... they only spread it around.

But when you measure success via the GDP, which is the movment of money, not the creation of wealth?

Only economists can be so divorced from the real world, where they would say the winner of a football team is the one who had most total yards, not the team who scored the most points.

38 Kinda OT, but why don't the Dems call out Barky Baby Pants for using his blackness as his race on college entry forms, etc., as an advantage, but it's a big, big deal when Gov. Nikki Haley calls herself white?

As an aside, what fun it must be to be a Dem rat party operative...digging into others' garbage, digging up 10 year old voter ID forms.  An army of inch high private eyes. 

39 You guys are so pessimisstic. Wait until our big bet on GM comes in. We will be rolling in it. When has the UAW ever let you down?

40 The Dems spent the eight years of Bush the Younger yelling "Worst economy in 75 years"...  They weren't complaining, they were promising...

41 "The standard newspaper definition of a recession is a decline in the Gross Domestic Product (GDP) for two or more consecutive quarters."

42

NOW WE'RE COOKIN' WITH GAS!

43 And the democrats want to raise taxes? Good luck with that as your platform in 2012.

44 I think Obama's first secret plan was to tell everybody there would be  transparency when really there wouldn't.  But don't tell anybody.  It's a secret.

45 A Twitter attack?? haha, that's sounds really scary...

46 Didn't clinton create this "service economy"?

47
Are You Shitting Me? They're pulling out that old excuse again?

Joe Biden already used it -- speaking of sorry excuses...

“No one realized how bad the economy was. The projections, in fact, turned out to be worse. But we took the mainstream model as to what we thought — and everyone else thought — the unemployment rate would be.”

“Everyone guessed wrong at the time the estimate was made about what the state of the economy was at the moment this was passed.”

June 2009

48 From Blitzer's interview last night:

BLITZER:  So what you're saying is the president did present a plan to the speaker, John Boehner.

DALEY:  Yes.

BLITZER:  But - but he didn't...

DALEY:  Right.

BLITZER:  - make it public.

DALEY:  No, because there's... both the speaker and - and the president had agreed and - that these sort of negotiations do not happen in public.

Fuck you! You work for us. Your work product is of interest, regardless of its obvious lack of quality. You have no right to keep this from us. And we don't like your attitude, and might fire you when your contract is up.

49
Being a liberal is about not getting enough sleep because of racist GDP and racist debt debates.

50 I cannot believe that the Tea Partiers would make our economy perform so poorly, but there they go.

51 Unexpectedly! You forgot the 'UNEXPECTEDLY'!

52

Just had an experience with a gov't employee (Air Force reserve "master sergeant") sitting on my paperwork for 2 weeks, so that I can't start my new assignment for another month. Government employees getting more leave, more raises, and more stupid, while the private sector collapses. 

Makes me think of the binary star analogy--the red giant of government absorbs matter from the white dwarf of the private sector economy.  Meanwhile, the sand people terrorize the occupants of Tatooine.     

53

Well, it turns out it was pretty damn close to 0%.

No, it is 0% - if we're lucky.

How convenient is it that the magnitude of statistical error is never reported for GDP estimates, but it is always reported for polling results.

54

Hey, everyone I know in DC is getting raises and promotions...what recession?

Posted by: The State Media at July 29, 2011 12:56 PM (7BU4a)

and the cnbc housing lady said their housing market is "the best in the country" apparently they haven't had any of the pesky problems with people losing their houses like the other states have had.

55 CHART OF THE DAY: The Scariest Jobs Chart Ever Is Now Scarier Than Ever

56 Yep, lower 2nd Q down 1.5% and it is the first quarter of the official double dip. Of course, these are crap anyway and nobody paying attention really thought we got out of the recession in the first place.

Secondly, remember how the OdipO admin was hooting and hollering that we were making a comeback when we got that first 1.9% growth, which turned out to be zip, zilch, nada.

57 43 And the democrats want to raise taxes?
Good luck with that as your platform in 2012.
  You misunderstand the situation. Bush ran a Guns and Butter economy fighting two wars with unemployment averaging 4%  for just under $2T a year. Bush was bad. Obama runs a Guns and Butter economy fighting 3 wars with unemployment averaging 10% for just under $4T a year. Obama is good. See? Its Keynesian. Big word for I went to an Ivy League school and you didn't. Oh yeah, Obama is a uniter.

58 If my stimulus plan hadn't passed, we'd be seeking economic development money from Zimbabwe now.

59 Bingo.... service economies do not create wealth... they only spread it around. I would think they use it up thru frictional losses. You can't service stuff forever.

60 Essentially zero.

Zero minus gov't spending increases, if you're not a Keynesian. That's 10%/year, roughly.

You can count the increase in "public" debt as shrinkage, too, if you like numbers that mean stuff. But numbers that mean stuff mean DOOM.

The worst one might be the non-governmental economy (y'know, THE ECONOMY) as a percentage of official GDP. That graph looks like a long-exposure picture of a guy who started shitting blood on his way down a really steep hill, so he jumped.

61 I remain convinced that the real numbers, unadjusted by various criteria to save Obama's skin, would show contraction and recession.

62 I'm hearing from rush something about a kabuki dance and something about everyone knew the boehner plan wasn't the real plan and reid calling it out wasn't anything but part of the plan and boehner was working with them all along.

wasn't around for the president's speech so rush's discussion is the first stuff i'm hearing about this.

63 My brother is still living in a mud hut because of you wingnuts
- Zero

64 Dammit, when will that high speed rail be finished?!

65 I, for one, can not believe that spending $1T of other people's money without addressing the root cause of the economic problem didn't work. It seemed so............11th dimensional.

66 Shovel Ready Economy

67 Assets and income continue to decline in value, while commodities (necessarily!) skyrocket.

Thanks, Barry (and Nancy)!

68 "I killed Bin Laden"  !!!!!!11!!!!1!!

69 Factor is Inflation, and WHAT growth are we talking about? Face it, the Double Dip dipped a while back already. It's merely accelerating now.

70 Math was created by old white people.

71

You can't service stuff forever.

 

Au contraire, mon frère

72

I wonder how one gets a mortgage for a mud hut.  And being underwater would have a whole new meaning. 

73 "I killed Bin Laden the economy"  !!!!!!11!!!!1!!

FTFY

74 You can't service stuff forever.

The Dems think I can.

75 Maybe we can pass more EPA and SEC and Healthcare regulations and mandates... THAT should stimulate the economy!

76 0.4 percent growth = zombie economy.

77 You know at least that gang of 6 thing got rid of the AMT.  They seem to be going from state to state and hitting everyone they can with the AMT.  It's the coffee machine talk of the month.  People who were not supposed to have to pay the AMT as it was ostensibly designed for "millionaires and billionaires" are the ones being hit with it and the guys it was meant to get are going free...it's the oddest thing.   Anyway,, at least the gang of 6 got rid of the AMT

78

 "I killed Bin Laden"  !!!!!!11!!!!1!!

 

I raped the corpse. With a Sea Cucumber...

So, thank you.

79 I get happy thoughts when I envision Obama handing the WH keys over to the GOP.  Sniff...

80 54

Well, it turns out it was pretty damn close to 0%.

No, it is 0% - if we're lucky.

How convenient is it that the magnitude of statistical error is never reported for GDP estimates, but it is always reported for polling results.

Posted by: No Whining at July 29, 2011 01:01 PM (YAJZH)

Actualy, if you take out the Governments deficit spending... it would be below zero....

They are artificialy inflating the GDP by putting it on the credit card... but the bill is going to be due soon...

81 Anyway,, at least the gang of 6 got rid of the AMT. And Hitler built the autobahns!

82
Brokeback Summer

83

So the NRO speculation is that not only will the final Reid/Boehner bill not have the BBA trigger, it won't even have a small debt increase. They think it will get Harry Reids increase that gets this beyond the election.

Boy, the pragmatists will rejoice in the streets at that marvelous victory won't they?

84 What the heck was Barry doing when he sat in the office of "The President-elect"?.He should have been ready from the beginning (as he promised) to hit the "ground running", however, he acts as if this is his first day on the job.  Does he really plan on running again?  Could he be that delusional?  His whole administration is a joke.  What everybody will remember about this fiasco is how messed up the government is, and since he is "the government", he has NO chance at being re-elected.

85 It seems O'Bumbles' economists routinely miss their GDP guess way to the upside.  Almost as if they were wishing it higher, like "encouraging" your bowling ball to somehow, magically, stay out of the gutter.

86 70 Factor is Inflation, and WHAT growth are we talking about?

Face it, the Double Dip dipped a while back already. It's merely accelerating now.

Posted by: CoolCzech at July 29, 2011 01:05 PM (kUaEF)

Yep, and also need to factor in the Decline of the Dollar....

We're big time negative...

87

RCP Average Direction of the Country    6/24 - 7/24   
Right Track  25.3%   Wrong Track  67.0%

Spread    -41.7

The Obergruppenfueher has it at -58,  Al Reuters at -32

88 I cannot believe that the Tea Partiers would make our economy perform so poorly, but there they go.

^This.

Obama needs/wants a Reich-stag Fire for the coming 2012 campaign. You think theres going to be a debt deal.????  Hell no.  It's much more advantageous to hm in his political calculus to tank the markets and blame Republicans, (more specifically, those angry Tea Partiers ....and diminish Bachman, Perry etc) than it is to get a deal.

Bank on it.

89

If you go argue with the Left at their sites....which I know most of you dispise....but I find that more effective than sitting here argueing with people I agree with.....you'll find that they honestly beleive that the only way out is three things:

1.) Spend more money, even if we have to borrow it

2.) Raise Taxes on everybody, especially the wealthy and corporations

3.) Grow government and attempt to "Command and Control" our way out

It is difficult to tell whether they have been manipulated into honestly believeing that as a worthy strategy, or whether their intentions are a European Style Socialism, and they are hiding behind the "Keyensian" theory to ultimately get there.

The most disheartening thing about argueing with these people is, they really seem to believe that if Obama and the Democrats were just left alone, and the Republicans got out of the way, we would end up stronger than we ever were. They consistantly point to the past, and refuse to recognize the difference between the modern Democrats and Democrats of your grandfathers years.   

 

90 "Obanomics - 0% growth and 20% unemployment. Good thing we voted for change from those miserable Bush years with their 5% growth and 4.5% unemployment!"

That is the kind of thinking that will lead to heartbreak, either sooner or later. Probably sooner. Comparing apples to oranges is not a legitimate argument. Times have changed. Big Time.
Were Bush still  President NOW, the economy would STILL be in the dumpster. The problems are now structural and those jobs lost are most likely NEVER coming back .  Nor is the 'spend-until-you-drop' stupidity that kept the bubbles afloat for years. Obama has not helped the mess but unless someone on the anti-Obama side of the spectrum begins to see the economic problems for what they are (and are not), any 'conservative' gains will be short-lived indeed.
This 'recession' never has gone away and as others have said this is now going into year 4 of atrophy.
Tinkering with the superstructure of the State at this point isn't going to do squat. That's why this current phony war about the deficit is so discouraging. It's much ado about nothing and even when someone 'wins', there is no victory.

91 47 Didn't clinton create this "service economy"?

Posted by: curious at July 29, 2011 12:59 PM (k1rwm)

Yep.  You just don't get Clinton's brilliance.  See we are supposed to get TVs, stereos, computers, ipods, tools, cars, building supplies and everything else from China and India.  In return we get to serve them prepared food, clean their houses and work on their cars....... FROM OVER SEAS!!!!!

92 And Hitler built the autobahns!

....and GOT an Olympics.....

93 H.R. 2693

94 What the economy really needs is a good speech. A talkin' to. A strongly worded letter, even.

95 Blue Oyster Cult -- on tour forever!
A guy I know created an awesome video for the B.O.C. song "Divine Wind", written by (conservative) lead guitarist Buck Dharma.
http://www.youtube.com/watch?v=_PkzeX0_uTM

96

It's the gas prices, stupid.  The 2011 spike has had the exact same effect that the 2008 spike had.  This was entirely predictable, but nobody in Washington or Wall Street seems to get it for some reason.

People got no money to spend because it's all going in the gas tank, and for higher food prices.  Houses that are far away from the work centers are unsellable and people stuck there can't move to where the jobs are.  The malls are dead zones.  Local shops are going under.

The shitty weather in a lot of country hasn't helped much either.  How much of our economic capacity was wiped out in the tornadoes and floods?

97

You can't service stuff forever.

Au contraire, mon frère

Posted by: Millie the Whore at July 29, 2011 01:05 PM

When you have to start doing it for free aren't you just a slut?

98 Joe Klein's latest gem in Time--->

"Osama bin Laden, if he were still alive, could not have come up with a more clever strategy for strangling our nation"

(link to WZ - not Time)

99 "Let me just say" that "Divine Wind" is an F U to Khomeini.
Also see this live video:
http://www.youtube.com/watch?v=aCYxP29pOIE

100 94 is the link to boehner's new amended amended bill.

101 OT More mixed bag polling data for the Democrat Party's long term prospects from Michael Barone.

The only really nauseating aspect is the outlook of Hispanics. Perhaps a better economy under free market principles and some sort of immigration solution will change it. I hope so.

102

Christopher Taylor, you are correct.

I'd bet money that there is a chart or two locked away in the Oval Office showing that 20% are unemployed and the last year has seen a negative growth in the economy by any measurement except misery.

103 90

They consistantly point to the past, and refuse to recognize the difference between the modern Democrats and Democrats of your grandfathers years.  

 

I would say ancestor worship, but they seem to hate anything an old white guy ever did, because he's a white guy. So maybe they are just a cargo cult. Vote for Dem and free stuff washes ashore? Do they build bamboo replicas of ships and aircraft? Could we buy them off with cans of Spam? Food for thought. 

104
How convenient is it that the magnitude of statistical error is never reported for GDP estimates, but it is always reported for polling results.

They never do it for unemployment numbers, either, but always assert minimal movements as meaningful rather than MOEs.

105 Things are looking up.

106

“…shrill voices of the Tea Party.”  Shaping up pretty much according to plan.  Others in the GOP old guard will join this chorus, imo.

107 The Bulls and Bears are stalemated in the -60 to -80 range.  I'm betting on a break downward near the close.

108

The real question is what is our GDP growth minus government spending? Given that G is up and everything else flatlined, where's the multiplyer effect?

 

We are financing our economy based on borrowing against the belief that we are still a productive and responsible people. Leaving aside the fact that our populace has ever larger segments who agree with the European model of ever less hours, months, and years of daily, yearly, and lifetime productivity, our government is also sabotaging that productivity with endless regulations, confiscations, and micromanagement. Why then does anyone think we will be good for ever more debt? Leaving aside the fed, which when buying T-bills is simply monetizing the deficit, why do Chinese work long and hard to give us money? Not so we can live the high life, but because they think it will be a good investment. Regardless of the actions of rating agencies, given our income and expenditure projects, how long will they keep that up?

We're boned.

109 Gallup: Obama Job Approval 40%, Disapprove 50%

110 The new blast fax must be out - both Time and Politico have put up stories about how conservatives are terrorists (but apparently Islamists aren't).

111
Obama is gonna continue to play the "hey, don't blame me, I just got here" card in 2012.

The balls on that man.

112 ‘‘$16,994,000,000,000’’

113 I thought to have a double dip you actually had to have something resembling an uptrend first?

I think this is more a double downer - or as we used to call it in the acid days, a double bummer.

114 Things are looking up...

- Christians are bombing people
- Tea Party is killing Christmas
- GOP is keeping granny from paying her a/c and heating bills
- my birthday bash is in a few days


- Zero

115

OT - Behold the tolerance of the ROP!

Lebanese outcry after belly dancer performs with Israelis

 A Lebanese belly dancer has placed herself at the center of a cross-border war of words after performing at a French musical festival with an Israeli metal band, and brandishing the Israeli and Lebanese flags.

Johanna Fakhry, 22, says she canÂ’t return to her homeland following threats from her family and compatriots for appearing on stage with the band Orphaned Land in front of 90,000 fans at the Hellfest festival last month in Clisson, France.

 

116 112
Obama is gonna continue to play the "hey, don't blame me, I just got here" card in 2012.

The balls on that man.

Posted by: Soothsayer at July 29, 2011 01:16 PM (sqkOB)

Doesn't take balls when you know that you wont be called on it

117 The balls on that man. Posted by: Soothsayer at July 29, 2011 01:16 PM (sqkOB) He has balls? who knew

118 Why hasn't someone from the tea party come out to show them how they can save money and SS medicare and medicade by ceasing to give money away to foreign governments for free.

paging donald trump.  paging donald trump.

119 Fuck you! You work for us. Your work product is of interest, regardless of its obvious lack of quality. You have no right to keep this from us. And we don't like your attitude, and might fire you when your contract is up.

Posted by: CharlieBrown'sDildo (NJConservative) at July 29, 2011 01:00 PM (LH6ir)

A secret plan.  I like it.

120 29 Why August 2nd is the big deadline;

Herbie Hancock, Jennifer Hudson, OK Go set for Obama birthday fundraiser

Herbie Hancock, Jennifer Hudson and OK Go, three artists with Chicago roots, will head up the entertainment portion of a planned birthday party and fundraiser celebrating the president's 50th birthday on August 3rd.

Okay, Mr. Obama, put your Herbie Hancock here!

121
These hack-careerists in the beltway are like vampires -- they hate the spotlight on their failures and corruption.

The Tea Party is like sunshine on their old bloodsucking asses.

122 Government spending isnt included in GDP unless they're buying copy paper or weapons systems.

Taking money from you and transferring that to teachers Unions or Planned Parenthood or State Governments doesn't count toward GDP.  

123 94,101 H.R. 2693

National Journal accidentally grabbed the wrong one. I thought it was the right one too until I started skimming it and read some updates about it.

124

Cowbell? You're kidding!

I don't mean to be racist but when it comes to rythem King Putt dances like a white guy.....

125 0.4 percent growth = zombie economy.

See!?11!eleventy!  The Republicans are holding American's economy hostage!  Here's the proof!

126 Johanna Fakhry, 22, says she canÂ’t return to her homeland following threats from her family and compatriots for appearing on stage with the band Orphaned Land in front of 90,000 fans at the Hellfest festival last month in Clisson, France.

Posted by: Kratos (Ghost of Sparta) at July 29, 2011 01:17 PM (9hSKh)

That's not true.  That's impossible.  It must be the Joos.

127 The headline at HP is... SORRY GRANDMA! What a bunch of assholes.

128 Our first quarter growth rate was said to be 1.9%. Which is not good at all. Pretty damn bad, actually. But at least it's not 0%.

Well, it turns out it was pretty damn close to 0%.

doom?
Doom?
DOOM!??
How did we let this DOOM! sneak up on us? Why didn't we see it coming sooner?!!!

129 I don't know nothing about no fancy algorithms but I do know that when a republican is in office look for upward revisions and when a dem is in office look for downward revisions. The revisions are generally less newsworthy and rarely mentioned in the headline of the story.

130 Seems like Odumdum is doing his part to be rejected by the electorate. Now all we need is to find us one of those Generic Republicans that keeps beating him in the fake polls.

I don't think any of those zombies currently residing in DC will work.

131

119 Why hasn't someone from the tea party come out to show them how they can save money and SS medicare and medicade by ceasing to give money away to foreign governments for free.

*sighs*.  While I agree that foreign aid should be cut and only given to those who are willing to be our friends and who share our interests, the total amount of foreign aid (40 to 50 billion dollars) is a drop in the bucket of our current fiscal catastrophe.  Those savings are sure as hell not going to "save" SS and Medicare...

/Who's on shift today?  Mr. Bigglesworth?

132 124 94,101 H.R. 2693

National Journal accidentally grabbed the wrong one. I thought it was the right one too until I started skimming it and read some updates about it.

Posted by: 80sBaby at July 29, 2011 01:19 PM (o2lIv)

94 H.R. 2693

Posted by: curious at July 29, 2011 01:10 PM (k1rwm)

101 94 is the link to boehner's new amended amended bill.

Posted by: curious at July 29, 2011 01:12 PM (k1rwm)

Are the Zero Hedge links "the right one"?

133 Had a good comment on the Kasich post, too! Dang it.

134 Obama Gallup - 40% - all time low

135 The headline at HP is... SORRY GRANDMA! What a bunch of assholes. Posted by: MJ at July 29, 2011 01:20 PM (BKOsZ) Ah who cares, HP computers are way over rated

136

Damn, I broke the the blog again, where did the Kasich thread go??

**snif**sniff**

137 123 Government spending isnt included in GDP unless they're buying copy paper or weapons systems.

Taking money from you and transferring that to teachers Unions or Planned Parenthood or State Governments doesn't count toward GDP.

Posted by: fixerupper at July 29, 2011 01:18 PM (C8hzL)

Not directly, but when those others spend that money they received from the Government, it does count.

138
@ 112 Soothsayer
The balls on that man.

;">Super ;"> ;">Balls ^® is a brand name and a registered trademark of Wham-O Inc., Woodland Hills, CA

139 Herbie Hancock, Jennifer Hudson and OK Go, three artists with Chicago roots,

I think the Chicago thing is just cover that this was the best they could do.  I mean, OK Go are the YouTube video guys.  They'll probably do that treadmill thing. Again.

140 Herbie Hancock, Jennifer Hudson and OK Go, three artists with Chicago roots, will head up the entertainment portion of a planned birthday party and fundraiser celebrating the president's 50th birthday on August 3rd.

This is King Putt's real deadline.

Think he'll go ahead with the party if we don't have a deal? My money would be on 'yes' if I still had any.

141 Do not taunt Happy Fun Ball.

142 Obama's re-election prospects appear very bleak. Seems to me he needs to run against Bachmann or Palin to have a chance. At what point will the media start positively pushing those two?

143

Ah who cares, HP computers are way over rated

My HP laptop crapped out a few weeks ago.  I only had it for over a year. 

144 Sorry, Pete, I know we're kin, but they got this Opression on.

145 Ah who cares, HP computers are way over rated ------------------------------------- Good point. I wonder what the government issued computer is going to look like??? We should know if a few years.

146 134 Had a good comment on the Kasich post, too! Dang it.

Posted by: blaster at July 29, 2011 01:21 PM (l5dj7)

Me too, My first original thought in weeks and now its gone.

very sad.

 

147


99 Joe Klein's latest gem in Time--->

"Osama bin Laden, if he were still alive, could not have come up with a more clever strategy for strangling our nation"

(link to WZ - not Time)


"And so I have a proposal: the Cut the Crap Act. It will have to be passed by Monday, to avoid default. And it will require an act of statesmanship from Boehner: he will have to modify his proposal and cut loose the Tea Party robots who are opposed to a deal of any kind. He will have to find common cause with Harry Reid and, yes, Nancy Pelosi, who are now willing to propose bills that should make any Teasie happy — bills without “revenue increases,” bills with a trillion dollars in budget cuts, more or less. He will have to find 160 sane members of his caucus and Pelosi will have to find 60 extremely tolerant members of hers to get us past this ridiculous moment."



You could have cut the crap back when you ran the whole show Joe. But you decided not to. It took that movement of robots to get the Washington Establishment in line with spending cuts. Which is what you are really angry about. Say it ain't so Joe.

148 48
Are You Shitting Me? They're pulling out that old excuse again?

Joe Biden already used it -- speaking of sorry excuses...

“No one realized how bad the economy was. The projections, in fact, turned out to be worse. But we took the mainstream model as to what we thought — and everyone else thought — the unemployment rate would be.”

“Everyone guessed wrong at the time the estimate was made about what the state of the economy was at the moment this was passed.”
And yet when every intelligence agency thought Sadam had a wmd program, Bush was lying and misleading.

149 Well, doesn't matter, Kasich is a failure anyway. He actually got it done, standing on principle, but his polling is down. And that's the real metric, right?

150 The next thread's busted.

151 142 Do not taunt Happy Fun Ball.

Posted by: toby928™ at July 29, 2011 01:23 PM (GTbGH)

You would not like it- back off my homies!

152

OT...one of you mo-rons had to have posted this already...anyhoo

http://tinyurl.com/43v3t5q

Kitler!

153 But you all know that.....sorry.

154 Obama's at 40%? Obama's at 40%?

155 My friends...

156 OMG!

157 Spike, the answer is never. Too much has already been said by the MSM about those two.

158 150 Well, doesn't matter, Kasich is a failure anyway. He actually got it done, standing on principle, but his polling is down. And that's the real metric, right?

Posted by: blaster at July 29, 2011 01:25 PM (l5dj7)

Yup , that was my thought...WTF is wrong w/Ohio??

159 Obama's at 40%? Obama's at 40%?

Posted by: cherry ð at July 29, 2011 01:26 PM (OhYCU)

My first reaction too.  But when you consider about 50% pay no taxes and have no stake in how money is spent/wasted, that's actually pretty good I suppose.

160 Think he'll go ahead with the party if we don't have a deal? My money would be on 'yes' if I still had any.

Posted by: King Putt at July 29, 2011 01:23 PM (G+7cD)

Oh, yeah.

But I think at this stage, he's afraid that somebody in the press might tweet something that sounds like it might be a criticism.

161 Doesn't matter for Obama. Whatever happens with the economy or the debt ceiling, Obama and his people will announce that they did good, he will take a victory lap (fundraisers and campaign speeches), and all the media fellaters will back him up on it. He can't fail because he, and the media people will simply announce that he is a success. The FAKE Greek columns were a metaphor for his presidency.

162 I wonder what the government issued computer is going to look like???

It'll have a filter to make sure you don't receive any improper opinion.

163 159, his polling is down. Whose poll? What's the sample? I don't buy it.

164 Kitler!

There is a website devoted to Hitler kittehs.

165

Well, doesn't matter, Kasich is a failure anyway. He actually got it done, standing on principle, but his polling is down. And that's the real metric, right?

--------

Sadly, he didn't even get it done. Shit is going to be repealed in the fall. Terrible poll numbers and the piece of legislation that has caused him those poll numbers is going to scrapped.

166 133 124 94,101 Are the Zero Hedge links "the right one"?

No; it was the old bill without the changes. Here is the BBA amendment: 
http://tinyurl.com/3lytqh4

167 123 Government spending isnt included in GDP unless they're buying copy paper or weapons systems.

Taking money from you and transferring that to teachers Unions or Planned Parenthood or State Governments doesn't count toward GDP.  

Posted by: fixerupper at July 29, 2011 01:18 PM (C8hzL)

Transfer payments, such as welfare and social security, aren't counted as government consumption but do show up in GDP when that money is spent on consumption or investment by the recipients.  Money given by federal government to the states to pay government employees or for other direct spending is counted as government consumption in the GDP statistics.  One way or another, the vast increase in federal government spending under Obama has shown up in the GDP figures as "growth".

168

Take out Texas and McDonalds, and were in a recession.

Expect a Perry Campaign to hammer home the "Non-Texas economy" versus Perry's record in Texas.

169 The student is now the master

Clinton now Says: The 'Big Things' Never Included his Tax-cut Vow, By Paul F. Horvitz
Published: January 15, 1993     

WASHINGTON— Seeking to explain why he is backtracking on a campaign promise to cut taxes for the middle class, President-elect Bill Clinton said Thursday that the plan was never a major theme in his race for the White House. 

Mr. Clinton, speaking at a news conference a day after saying he would have to "revisit" his tax-cut plan, said Americans voted for him because of the "big things" he wanted to do. 

The middle-class tax cut, he said, was not among them. 

He said he was "absolutely mystified" that the news media had perceived it as a major pledge. In interviews Wednesday, Mr. Clinton said that, because of worsening deficit projections,"I have to put everything back on the table."

170 162 Doesn't matter for Obama. Whatever happens with the economy or the debt ceiling, Obama and his people will announce that they did good, he will take a victory lap (fundraisers and campaign speeches), and all the media fellaters will back him up on it.

Actually, I'm not worried about it. Remember when his poll numbers shot up after killing bin Laden?

Me neither.

171

did it feel like the economy picked up between the 1st and 2nd quarter ?  Not to me ...  so if 1st Q was really .4 then I have to assume 2 Q will come in around .4 if not lower ...

Give Obama 1 quarter with negative GDP and his 2012 election chances will go from bad to so close to zero that its gets zero's mail sometimes ...

172 79 "I killed Bin Laden" !!!!!!11!!!!1!! I raped the corpse. With a Sea Cucumber... So, thank you. Posted by: hornyfemaledolphin at July 29, 2011 01:06 PM (GD1c9) That reminded me of the ONT story about the woman that died of an allergic reaction after her husband ordered the dog to have sex with her. I'm still haunted by that. Should she have asked for a doggy bag?

173 Given that polling data and the GDP number I wonder how much knife sharpening Hillary did this morning.

Pantsuit 2: This time it's personal.

174

The most disheartening thing about argueing with these people is, they really seem to believe that if Obama and the Democrats were just left alone, and the Republicans got out of the way, we would end up stronger than we ever were. They consistantly point to the past, and refuse to recognize the difference between the modern Democrats and Democrats of your grandfathers years.   

Democrats of my grandfather's years set up the Ponzi schemes that are collapsing around us now.

175 He will have to find 160 sane members of his caucus and Pelosi will have to find 60 extremely tolerant members of hers to get us past this ridiculous moment

"extremely tolerant". It can't be said enough:  go fuck yourself with a pineapple, Joe Klein. The Keynesian fuckwit Democrats and you ball-licking dipshit enablers in the fucking media got us to this ridiculous moment. Eat it, and choke on it, you putrid lying sack of shit.

176 167 133 124 94,101 Are the Zero Hedge links "the right one"?

No; it was the old bill without the changes. Here is the BBA amendment: 
http://tinyurl.com/3lytqh4

Posted by: 80sBaby at July 29, 2011 01:30 PM (o2lIv)

thanks 80's Baby .... I appreciate your diligence....

177 That reminded me of the ONT story about the woman that died of an allergic reaction after her husband ordered the dog to have sex with her. I'm still haunted by that.

Should she have asked for a doggy bag?

Posted by: CoolCzech

 

My.....That 911 call must have been...awkward. And second only to the memorial service. Especially if the wake was held. In the house. With the dog out back. And by out back I do NOT mean anything untoward.

178 They consistantly point to the past, and refuse to recognize the difference between the modern Democrats and Democrats of your grandfathers years.   

 Posted by: Jimi

That indeed is a false choice on several points.

Wilson was the first really damaging  modern Democrat Progressive, introducing the Federal withholding Income Tax, and the Federal Reserve, which was allegedly meant to manage the monetary system, but in fact has destroyed captial in the value of capital in an incredible way.

FDR, your "grandather's Democrat" did as much damage, if not more, to the system as Obama is doing.  Mobilization for WWII (1939) and actually fighting the war  stimulated the economy like nobody's buisness and erased many of the mis-steps and mistakes that were a hallmark of the FDR years.  "The Great Patriotic War", as it was called in Soviet quarters, is how it is largely remembered now here, without the actual strife, bitterness and government mis-management that actually  happened.

After the war, most of the other major industrial nations were knocked 'way down, compared to the US. Sometime in the late '60's, that disparity appeared to have finally worn away.  The actual high for the DJIA (in constant dollars) was actually in 1966 or 1967. So the Truman, Eisenhower (R), Kennedy and LBJ years are remembered well, although we were already starting to burn the seed corn in the LBJ years.

Now the bonfire is raging.

179 Now we just have to see what other chances are being made and to which version they are being attached. It's all rather confusing. 

180 Democrats of my grandfather's years set up the Ponzi schemes that are collapsing around us now. They not only set it up, the took the word of every crooked ass pol that promised them more and more benifits without doing one iota of math to fact check. They didn't give a shit about the future Generation. It was all me me me, mine mine mine. Then they wonder why there kids are all fucked up.

181 My.....That 911 call must have been...awkward. And second only to the memorial service. Especially if the wake was held. In the house. With the dog out back. And by out back I do NOT mean anything untoward. Posted by: Blue Hen at July 29, 2011 01:39 PM (6rX0K) Just another example of why it's so important to have your dogs neutered...

182 Just another example of why it's so important to have your dogs neutered... Too bad we can't neuter Dems.

183

Posted by: Reader C.J. Burch writes..... at July 29, 2011 01:41 PM (oiG2m)

IMO it was not the war which really ended the depresion... heck, the economy sucked those years...

BUT, the Governemnt got out of the way and allowed America to get to work, in order to build the machines of War... and then that industry transitioned to making civilian goods... and THAT is what finished the depresion...

We built the means to MAKE SHIT... we mined and drilled and built... and that is how you create real wealth... not by creating new and better ways to make legal bets in some market structure... (imo the banks just move wealth, they don't create it).

184 Posted by: Oldsailor's poet at July 29, 2011 01:48 PM (ZDUD4)

Well, there is obviously a technique that works on politicians; just look at the Republicans.

185 Ironic "More Cowbell" picture from the People's Cube.

And it adorns the rear bumper of my truck.

186

BUT, the Governemnt got out of the way and allowed America to get to work, in order to build the machines of War... and then that industry transitioned to making civilian goods... and THAT is what finished the depresion...

It helped having half the factories in Europe and Asia bombed to rubble. Might have influenced demand for US exports a bit.

187

It helped having half the factories in Europe and Asia bombed to rubble. Might have influenced demand for US exports a bit.

Posted by: Randy M at July 29, 2011 02:00 PM (vI8R6)

Actualy, England, Africa, Mid East, Russia, China... all went through building phases during the war years...

It was the Axis countries, Eastern Europe, and France, whose industries were leveled...

So yes... there were some 'markets' for goods created, but there was also a HUGE increase in domestic consumption.

188 Damn you, Ace. I'd never seen The People's Cube before, and now I've just blown an hour browsing their hilarious photoshops.

189 The Fed met with the primary dealers on an emergency basis?  link

Zero Hedge is on a roll....link

190 When your economic news has the same mantra as the Spanish Inquisition, you're in trouble.

191

"They not only set it up, the took the word of every crooked ass pol that promised them more and more benifits without doing one iota of math to fact check. They didn't give a shit about the future Generation. It was all me me me, mine mine mine. Then they wonder why there kids are all fucked up."

Well they just assumed that we would always be the economic powerhouse. Then when Clinton came in he started giving away the farm. Then by the time Obama came, they had forgot to teach the Baby Scammers that to maintain to Entitlement structure we needed to keep the manufacturing here, and we needed to quit getting raped on oil.

But apparently voting in someone non-White was much more important, and now the Baby Scammers are looking to their kids to fix this?

Ha!..... 

192 this fox guy certainly has a lot to tweet...

BreakingNews Breaking News Capitol telephone circuits 'near capacity,' system alert says. In the House, typical call volume is 20K per hour - Fox News' @ChadPergram

but hey "people are absorbed in reality tv, they aren't paying attention" as my dem friends are telling me....lol

193 New Calif. political maps to favor Democrats

Have never heard Devin Nunes as angry as he was on Batchelor last night in batchelor's last hour.  Can't wait to hear his thoughts tonight, hope batchelor has him on the program.

194

Economic growth?

Mark it zero, Dude.

195

You're exactly right, the 0.4% is the Q1 result after three revisions, all downward.

2011's growth, moreover, was entirely front-loaded, it's been all downhill since February.  We are undoubtedly in recession, negative growth, but this will grudgingly be acknowledged only after multiple downward revisions sometime in 2012.

The good news is Obomb is finito.

196 The numbers are actually worse than that because it wasn't just GDP for the first quarter of this year that was downgraded... Q4 GDP from last year was also downgraded from 3.1% to 2.3%.  This means that 1) they are not getting the GDP numbers right even when revised the next quarter and 2) Q1 GDP will likely be negative when it is revised again.  It is very possible, once both Q1 and Q2 for this year are fully revised, that we are now officially in the second dip of a double dip recession.

197

"Smokey, this is not 'Nam. This is bowling. There are rules."

"Mark it Zero...Dude!"

"Shut the fuck up, Donny"

198

Have never heard Devin Nunes as angry as he was on Batchelor last night in batchelor's last hour. Can't wait to hear his thoughts tonight, hope batchelor has him on the program.

Posted by: curious at July 29, 2011 02:22 PM (k1rwm)

No one here gives a shit about Batchelor and who he has on.  The only person I have ever heard talk about him is you.  No one gives a shit.  We don't need a play by play of his show ever fucking night.

199 Well, I'm quite pleased with the economy's performance under my Barack's visionary stewardship.

200 What is this wealth you speak of?

It doesn't matter: if we can tax it, borrow it, appropriate it or redistribute it, buddy, it's fair game and my administration is coming at ya!

201

It's the gas prices, stupid.  The 2011 spike has had the exact same effect that the 2008 spike had.  This was entirely predictable, but nobody in Washington or Wall Street seems to get it for some reason.

People got no money to spend because it's all going in the gas tank, and for higher food prices.  Houses that are far away from the work centers are unsellable and people stuck there can't move to where the jobs are.  The malls are dead zones.  Local shops are going under.

The shitty weather in a lot of country hasn't helped much either.  How much of our economic capacity was wiped out in the tornadoes and floods?

Well, the administration's policies, long-term, are slowly shutting down production in the Gulf of Mexico, which is 1/3 of US oil production.

When your only means of paying for overseas oil is printing more money, because we can't be allowed to make anything for ourselves... well, yeah, the price is going to keep going up.

I suspect Zero's job, as per the Russians, is to keep us from drilling until we no longer have any capital left to drill WITH.

202 Damnit, what happened to my italics? I had italicized the quoted part, but they're gone.

203

THE ECONOMY IS RACIST AND AG HOLDER SHOULD INVESTIGATE IMMEDIATELY !!!!!!!!!!!!!!!!!

204 IÂ’ve been looking everywhere for this! Thank goodness I found it on Bing.Thx

205 GHD Straighteners Sale was opened to traffic for foreign loans and large number of large JunYuan, especially between China and the United States signed tung loan, and the national government to buy American strategic materials all have certain effect. According to not complete count, from 1937 to 1945 years, the United States has a total of 13, 700 million dollars required China loan; MBT Shoes The Soviet union from 1938 to 1940 a total aid China $500 million, Britain, 4 signing China 0.5 million pounds. GHDS UK 6 While overseas Chinese patriotic in Anti-Japanese War in four years, head of the motherland gift of up to 15, 6.3 billion, buy bonds, been 6 been 800 million. The sums required to buy goods, MBT Sale