Once again, you got it STRAIGHT from this blog.
In the face of $4.00 oil (which SHOULD have offset the "stimulus" checks), the economy GREW 1.9% (almost 2%) in the second quarter ending June 30. That is remarkably GOOD, in terms of the hurdles the economy overcame. Further, it is ACCELERATINIG growth in comparison with the previous two quarters.
What about those previous two quarters? Revised numbers indicate a CONTRATION in the first quarter ended December 31, and GROWTH of .9% in the first quarter of this year (as stated, continuing to accelerate in the right direction in this quarter). Not very good, right?
Right, and also NOT VERY BAD. What this blog told you that we were in a slowdown where it did not even matter whether it was a recession or not. Again, this blog has been proven right by events. The DEFINITION (not complete definition) of a recession is two consecutive quarters of CONTRACTION. We only had one quarter of about as little contraction as you can get (essentially FLAT). Then we had another quarter barely better than flat. What did I tell you? I told you that it only makes a difference to the MEDIA and LEFTIST DEMORATS desperate to label it the Bush recession
I have been proven absolutely right. Does it MATTER whether the economy grew .1% in the six months previous to this quarter (this quarter was clearly GROWTH, and not merely flat), or contracted .1% in the six months prior to this quarter (the numbers say it GREW .8% over those six months). Of course it makes no difference. If you call it a "recession", it was not much of one If you call it growth, it was not much. Basically, we had a SLOWDOWN where the economy was basically FLAT. Since events were bad enough (gasoline, bursting of the housing bubble, and credit) to produce a REAL recession, that is GOOD news. We have had what Wall Street calls a "soft landing"--the BEST of all possible worlds economically.
That is because we will ALWAYS have recessions as excesses (housing this time, and the dot.com boom at the end of the Clinton years) that have to be CORRECTED. If they are not corrected, then the eventual recession is a BAD one--perhaps approaching a depression. You cannot AVOID recessions. If you try too hard to do so, you just set up the economy for a BAD fall. That is why Wall Street wishes for a "soft landing", where the excesses or corrected without ruining the economy. That is exactly what appears to have happened here.
Oh, we are not totally out of the woods. Layoffs in certain areas are still happening. But all appearances are that the economy will be BETTER in the second half of this year--especially if gasoline prices come down (as they should, because of the calendar alone--think of how good it would be if Democrats actually removed restrictions on DRILLING to help with the psychology!!!).
Are the media and Democrats hailing the GOOD news. Don't be silly. They are INVESTED in "doom and gloom", as they are INVESTED in trashing this country internationally, racially, and every other way. Again, think how GOOD things might be if Democrats stopped TRASH:ING both the economy and this country COFIDENCE is something that matters. If Democrats and the media actually gave the economy, and this country, the credit it deserves, the public's CONFIDENCE should be RISING rapidly. As it is, the Democrats and mainstream media (redundancy) are INVESTED in things being BAD.
That alone should be enough to vote against them (yes, a Democratic vote is a vote for today's media). If only John McCain were not AMOST as bad.
You think I am exaggerating? You FOOL you!!! In the face of TODAY'S numbers, Nancy "Total Failure" Pelosi came out and said we were in a recession!. As I say, you can legitimately argue that those previous six months were FLAT.. But you CAN'T say that 1.9% GROWTH is a recession, unless you are "Total Failure" Pelosi.
Q.E.D. You see it on gasoline. You see it in Pelosi's deliberately doom and gloom comments on the economy. Democrats WANT the economy to fail. Democrats WANT you to suffer!