Austerity bites!

  1. This post has been removed.

     
  2. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: Austerity bites!

    Typically there is a drop in economic activity after austerity measures are put into place followed later by an expansion of the economy. That's how it works.

     

     
  3. This post has been removed.

     
  4. This post has been removed.

     
  5. You have chosen to ignore posts from UserName99. Show UserName99's posts

    Re: Austerity bites!

    I don't think the right wing leadership believes austerity will produce growth. They have just decided that austerity is more important to them than is growth or jobs.

    That is because growth and jobs are not important to them. What is important to them is lower taxes and greater privileges. They really think they will do just fine without the rest of us, better in fact if the "help" gets cheaper.

    They will bring down the country around them doing this, and their privileged position will not look so good to them amid the ruins. But they can't imagine that.....denial. The Titanic can't sink, it just couldn't.

     
  6. This post has been removed.

     
  7. This post has been removed.

     
  8. This post has been removed.

     
  9. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: Austerity bites!

    I don't think the right wing leadership believes austerity will produce growth.

    You're probably right. The leadership on the right consists of mostly statists that are only a bit milder than those in the left wing leadership. They're wrong and they all have to go.

     

     
  10. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: Austerity bites!

    So say those who pushed for austerity programs. It'd be interesting to see evidence of whether it happened, and if so, what particular austerity measures were in place.

    It's probably useful to note here that the sequester is not exactly an austerity plan.

     
  11. This post has been removed.

     
  12. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: Austerity bites!

    Leadership, as it relates to the wingnut party, is an oxymoron

    Thanks for adding your gravitas to the discussion.

     

     
  13. This post has been removed.

     
  14. This post has been removed.

     
  15. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: Austerity bites!

    Then why insist on it?

    It's the proverbial thumb stuck in the crack in the dike.

     

    I think that it's been well established that "taxing the rich" is not going to fix anything. Given that, how do you propose getting back to a balanced budget without spending cuts?

    Also, the sequester has clearly had a negligible effect on government services. Surely there is a ton of waste and corruption that is still ripe for cutting. Don't you think?

     

     
  16. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Austerity bites!

    In response to StalkingButler's comment:

    Also, the sequester has clearly had a negligible effect on government services. 

     

    Those who were forced to take furloughs due to intransigence of our elected leaders might disagree.

    As might those in the private sector who depend upon certain services, like national parks, for their subsequent livelihood.  I know a couple who own a B&B near Acadia Nat'l Park who have said as much, though they are but a tiny example.

    I'm all for efficiencies and cutting spending.  Intelligently.  With a razor, not a maul.

     

     

     
  17. This post has been removed.

     
  18. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: Austerity bites!

    Those who were forced to take furloughs due to intransigence of our elected leaders might disagree.

    And many of those who have been laid off in the private sector might not give a Horse's Biden about that. Where is it written that "thou shalt not lay off a government worker?"

    You have to stop the insanity at some point.

     

     
  19. This post has been removed.

     
  20. You have chosen to ignore posts from FortySixAndTwo. Show FortySixAndTwo's posts

    Re: Austerity bites!

    In response to A_Concerned_Citizen's comment:

    What a surprise, the 462 is off reporting posts again.

    Can't argue the facts so he has to run to big brother.

     

    The guy just can't hold is own in any meaningful debate.

    Sad.

     



    Psst...my post got deleted too.

    oh and why, if you're "new" here and NOT Airborne, why would you say "reporting posts again"??? 

    Whoops....hahahahahahahahahahahahahahahahahahahahaha

     
  21. You have chosen to ignore posts from ImYourDaddy. Show ImYourDaddy's posts

    Re: Austerity bites!

    In response to A_Concerned_Citizen's comment:

    More evidence of the failed neo-con ideology.

    First quarter GDP revised slightly lower; austerity bites.

    (Reuters) - A drop in government spending dragged more on the U.S. economy than initially thought in the first three months of the year, although consumer spending looked relatively resilient to Washington's austerity drive.

    Other reports on Thursday showed the number of new jobless claims rose modestly last week while contracts on previously owned homes climbed to a three-year high in April.

    Together, the reports pointed to an economy that has held up reasonably well despite government constraints, but nevertheless faced headwinds severe enough to dissuade the U.S. Federal Reserve from trimming its monetary stimulus in the immediate future.

    "(The reports) paint the picture of an economy with strengthening fundamentals that is facing significant fiscal drag," said Ellen Zentner, an economist at Nomura in New York.

     

    Government spending tumbled at a 4.9 percent annual rate, which was faster than the 4.1 percent rate initially estimated. Also holding back growth during the quarter, businesses outside the farm sector stocked their shelves at a slower pace.

    Washington has been tightening its belt for several years but ramped up austerity measures in 2013, hiking taxes in January and slashing the federal budget in March.

    "We are dramatically under-spending in Washington," said Michael Strauss, a market strategist at Commonfund in Wilton, Connecticut.

    U.S. stocks rose and the dollar weakened as some investors bet the data could dissuade the Fed from rushing to taper a bond buying program that has acted as a bulwark against government belt tightening. Prices for U.S. government debt pared losses.




    hahahaha .... what was 4th quarter 2012  GDP ,  3rd quarter (2012) GDP ..

     

    how about this ...  stock market rose to all time high ... investors point to government willing to cut spernding to keep deficit under control

    Spins in fun ......

     
  22. This post has been removed.

     
  23. This post has been removed.

     
  24. You have chosen to ignore posts from ImYourDaddy. Show ImYourDaddy's posts

    Re: Austerity bites!

    In response to A_Concerned_Citizen's comment:

     

    In response to ImYourDaddy's comment:

     

    In response to A_Concerned_Citizen's comment:

     

    More evidence of the failed neo-con ideology.

    First quarter GDP revised slightly lower; austerity bites.

    (Reuters) - A drop in government spending dragged more on the U.S. economy than initially thought in the first three months of the year, although consumer spending looked relatively resilient to Washington's austerity drive.

    Other reports on Thursday showed the number of new jobless claims rose modestly last week while contracts on previously owned homes climbed to a three-year high in April.

    Together, the reports pointed to an economy that has held up reasonably well despite government constraints, but nevertheless faced headwinds severe enough to dissuade the U.S. Federal Reserve from trimming its monetary stimulus in the immediate future.

    "(The reports) paint the picture of an economy with strengthening fundamentals that is facing significant fiscal drag," said Ellen Zentner, an economist at Nomura in New York.

     

    Government spending tumbled at a 4.9 percent annual rate, which was faster than the 4.1 percent rate initially estimated. Also holding back growth during the quarter, businesses outside the farm sector stocked their shelves at a slower pace.

    Washington has been tightening its belt for several years but ramped up austerity measures in 2013, hiking taxes in January and slashing the federal budget in March.

    "We are dramatically under-spending in Washington," said Michael Strauss, a market strategist at Commonfund in Wilton, Connecticut.

    U.S. stocks rose and the dollar weakened as some investors bet the data could dissuade the Fed from rushing to taper a bond buying program that has acted as a bulwark against government belt tightening. Prices for U.S. government debt pared losses.

     




    hahahaha .... what was 4th quarter 2012  GDP ,  3rd quarter (2012) GDP ..

     

     

    how about this ...  stock market rose to all time high ... investors point to government willing to cut spernding to keep deficit under control

    Spins in fun ......

     




     

    Are you high on crack or something?

    The last three Qtrs the BEA has said the exact same thing, retraction in gov't spending hampered growth.

    Hey Einstein, if your hilariously inane theory is true, why is the Euro markets and economies in a triple dip recession?

    They cut spending way more than the US, according to you they should be sky high.

     

    Echo chamber regurgitation only makes you look uninformed.

     

     



    Q4 gdp  +.4% , first quarter +2.4%  ... government spending big drag on the economy?

     

    The forecast for 1st quarter gdp (2.5%), it came in at 2.4% ... so government spending cost gdp growth to slow  (1 tenth of 1 %  Brawwahhhh)

    Is lesson time

    As a reminder, GDP is made up of:  where Y=GDP, C=Consumption, I=Investment, G=Government Spending, (X-M)=Net Exports, X=Exports, M=Imports*.

    Comparison of Q1 2013 and Q4 2012 GDP Components
    Component
    Q1 2013
    Q4 2012
    Spread

             1q        4th q   spread

    GDP  +2.38   +0.37  +2.01

    C       +2.40   +1.28  +1.12

    I        +1.16   +0.17 +0.99

    G       –0.97   –1.41  +0.44

    X       +0.11  –0.40  +0.51

    M–0.32 +0.73 -1.05

     

    Private growth is better than government growth, Government growth mean higher deficit,debt,interest on the debt  ... you dig

    government spending 2013  3.5 trillion , sequester cut  85 bio ...2.5% cut of total spending is going to cause the econpmy to go into the toilet?? stop bogarting that crack pipe

     

     

     

     

     

     

     

     

     

     
  25. You have chosen to ignore posts from ImYourDaddy. Show ImYourDaddy's posts

    Re: Austerity bites!

    In response to A_Concerned_Citizen's comment:

    In response to StalkingButler's comment:

     

     

    Those who were forced to take furloughs due to intransigence of our elected leaders might disagree.

     

    And many of those who have been laid off in the private sector might not give a Horse's Biden about that. Where is it written that "thou shalt not lay off a government worker?"

    You have to stop the insanity at some point.

     

     




     

    Still no examples of austerity actually working I see.

    Just another pie-in-the-sky neo-con moombeam.

    Newsflash, Ayn Rand wasn't an economist and you shouldn't base your economic views on a work of fiction...just sayin.



    http://www.ft.com/cms/s/0/60c95c90-bd3d-11e2-a735-00144feab7de.html#axzz2UrgJgSre

    High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/60c95c90-bd3d-11e2-a735-00144feab7de.html#ixzz2Urghxcmy

    Greek yields fall sharply after Fitch upgrade

    By Michael Stothard

    Greek 10-year bond yields fell sharply on Wednesday to their lowest level in three years following an upgrade of the country’s credit rating by Fitch on the back of improving prospects for the stricken economy.

    Ten-year Greek government bond yields fell nearly a full percentage point to 8.2 per cent, the lowest since June 2010. Fitch raised Greece’s rating to B minus from CCC on Tuesday, and said the outlook was stable.

     

Share