Pronk Palisades

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

Posted on April 20, 2008. Filed under: Blogroll, Economics, Links, Politics, Rants, Raves, Resources, Taxes, Video | Tags: depression, Economy, Milton Friedman, Recession, scarring people, Thomas Sowell |

Scaring People

 

Recession: The Movie

 

 the Sky is falling! the Sky is falling!!

 

Scaring people with Hot Dogs

 

Message to the pump and dump drive by media–shut up–you are scarring people!

Both the media and the Democratic Presidential candidates would like to scare you into thinking the economy is in a recession.

Recession Fears Widespread

http://www.youtube.com/watch?v=lesqKkQPIos&feature=related

George Soros Part 1

http://www.youtube.com/watch?v=hexj-TMkWqk&feature=related

George Soros Part 2

http://www.youtube.com/watch?v=LbjuEsx0HW0

Economy In Trouble – Early Report of Recession 01/2008

http://www.youtube.com/watch?v=bUwbFzw8LMU&feature=related

Economy May Be Worse Than It Appears

http://www.youtube.com/watch?v=W5Kyz19KeBs&feature=related

Japan’s historical economic meltdown. Some US parallels.

http://www.youtube.com/watch?v=sGJEwTAnqCU&feature=related

John McCain Sheds Light on the Economy

http://www.youtube.com/watch?v=kqGWTh_NZ-0&feature=related

Hillary – McCain Will Continue Bush’s Recession

http://www.youtube.com/watch?v=COItndIRNVo

Freefall

 http://www.youtube.com/watch?v=37LwStiMs6Y

Hillary Clinton: America’s Pilot

http://www.youtube.com/watch?v=oyA5aO5104g&NR=1

Bill Clinton on Recession

http://www.youtube.com/watch?v=tcSsqMbsIv4

 

Obama: Recession started 7 years ago.

 

Well not so fast Senators Clinton and Obama and former President Clinton.

There has not been a recession either in 2007 or 2008 to date.

The U.S. economy may be slowing down, but the US economy has yet to have even one quarter of negative economic growth.

While Senator McCain may be challenged by economics, the above three lawyers would not know a recession if it bit them on their ass.

Nor do they have a clue as to what to do to prevent and avoid a recession.

Wealth is created in the private sector.

Governments redistribute wealth or income.

Governments do not create wealth.

More and more government expenditures, regulations, and higher taxes, are failed policies.

Stop scaring people.

Eat your own dog food.

Have a hot dog!

Background Articles and Videos

List of recessions in the United States

“…

Great Depression	1929–1939	&&&&&&&&&&&&&010.&&&&&010 years	Stock markets crashed worldwide, and a banking collapse took place in the United States. This sparked a global downturn, including a second, more minor recession in the United States, the Recession of 1937.	[18]
Recession of 1953	1953–1954	&&&&&&&&&&&&&&01.&&&&&01 year	After a post-Korean War inflationary period, more funds were transferred into national security. The Federal Reserve changed fiscal policy to be more restrictive in 1952 due to fears of further inflation.	[19][20]
Recession of 1957	1957–1958	&&&&&&&&&&&&&&01.&&&&&01 year	Monetary policy was tightened during the two years preceding 1957, followed by an easing of policy at the end of 1957. The budget balance resulted in a change in budget surplus of 0.8% of GDP in 1957 to a budget deficit of 0.6% of GDP in 1958, and then to 2.6% of GDP in 1959.	[21]
1973 oil crisis	1973–1975	&&&&&&&&&&&&&&02.&&&&&02 years	A quadrupling of oil prices by OPEC coupled with high government spending due to the Vietnam War lead to stagflation in the United States.	[22]
Early 1980s recession	1980–1982	&&&&&&&&&&&&&&02.&&&&&02 years	The Iranian Revolution sharply increased the price of oil around the world in 1979, causing the 1979 energy crisis. This was caused by the new regime in power in Iran, which exported oil at inconsistent intervals and at a lower volume, forcing prices to go up. Tight monetary policy in the United States to control inflation lead to another recession. The changes were made largely because of inflation that was carried over from the previous decade due to the 1973 oil crisis and the 1979 energy crisis.	[23][24]
Early 1990s recession	1990–1991	&&&&&&&&&&&&&&01.&&&&&01 year	Industrial production and manufacturing-trade sales decreased in early 1991.	[25]
Early 2000s recession	2001–2003	&&&&&&&&&&&&&&02.&&&&&02 years	The collapse of the dot-com bubble, the September 11th attacks, and accounting scandals contributed to a relatively mild contraction in the North American economy.	[26]

…”

http://en.wikipedia.org/wiki/List_of_recessions 

The NBER�s Recession Dating Procedure

http://www.nber.org/cycles/recessions.html

Is U.S. in Recession? Discussions Begin

“…The seven-member committee won’t be announcing a starting date for a recession, if one were to occur, until it can be said definitively that a recession has started, Mr. Hall said. Economic data are too volatile to make any judgments this early. “Our ability to forecast these things is extremely poor,” he said. “Lots and lots of people have talked about recessions when they didn’t occur.”

The 87-year-old NBER, a nonprofit group of 600 academic economists, has become the unofficial arbiter of when recessions begin and end. Its definition of a recession: “A significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.” A simple rule of thumb is two straight quarters of declining GDP, but that is not necessary for the group to declare a recession.

http://blogs.wsj.com/economics/2008/01/22/is-us-in-recession-discussions-begin/

Recession election: jobs, gas prices help Obama, Clinton

http://www.youtube.com/watch?v=5rp4SAHamCI

Economic Reality

http://www.youtube.com/watch?v=HSAeyMmanb4&feature=related

Recession? Depression? What’s the difference?

“…Recession: The Newspaper Definition

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

This definition is unpopular with most economists for two main reasons. First, this definition does not take into consideration changes in other variables. For example this definition ignores any changes in the unemployment rate or consumer confidence. Second, by using quarterly data this definition makes it difficult to pinpoint when a recession begins or ends. This means that a recession that lasts ten months or less may go undetected.

Recession: The BCDC Definition

The Business Cycle Dating Committee at the National Bureau of Economic Research (NBER) provides a better way to find out if there is a recession is taking place. This committee determines the amount of business activity in the economy by looking at things like employment, industrial production, real income and wholesale-retail sales. They define a recession as the time when business activity has reached its peak and starts to fall until the time when business activity bottoms out. When the business activity starts to rise again it is called an expansionary period. By this definition, the average recession lasts about a year. …”

http://economics.about.com/cs/businesscycles/a/depressions.htm 

Recession

“…In macroeconomics, a recession is a decline in a country’s real gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year.

In the US, the judgment of the business-cycle dating committee of the National Bureau of Economic Research regarding the exact dating of recessions is generally accepted. The NBER has a more general framework for judging recessions:

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decades  …” 

http://en.wikipedia.org/wiki/Recession

Recession Not Depression

http://www.youtube.com/watch?v=tx1OCuevyLU

Milton Friedman – Greed

http://www.youtube.com/watch?v=RWsx1X8PV_A&feature=related

Milton Friedman Interview: Spending Money

http://www.youtube.com/watch?v=crAt0YlxhLA

Milton Friedman: The Purpose of the Federal Reserve

 http://www.youtube.com/watch?v=9V5OP-VmXgE&feature=related

Reason Tv on Milton Friedman

http://www.youtube.com/watch?v=ARkDbDu5FBo

Thomas Sowell – Is “Income Stagnation” an Economic Myth?

http://www.youtube.com/watch?v=WrtoSx-NbLQ

 

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