QOD

Filed in International by on July 15, 2009

How long would it normally take to turn around a recession that is as bad as that one we had in the 1930’s?

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  1. jason330 says:
    July 15, 2009 at 10:56 am

    I’m enjoying the fact that the GOP is rooting for misery as an electoral strategy.

  2. PBaumbach says:
    July 15, 2009 at 11:47 am

    five years is my best guess for the US to return to late 2007 levels of GDP

    PIMCO calls the current economic situation The Great Recession

  3. Unstable Isotope says:
    July 15, 2009 at 12:29 pm

    “The Great Recession” I’ve heard that one too. I think it’s a good description. I hope we use this opportunity to make our economy stronger and not so reliant on paper pushing. I think the GDP growth from the last 5 years was based on nothing but wishful thinking, really.

  4. anon says:
    July 15, 2009 at 12:34 pm

    GDP growth during the Bush administration was just a cheap sugar rush. Without wage growth, GDP growth has no basis to continue for the long term.

  5. cassandra_m says:
    July 15, 2009 at 12:44 pm

    GDP growth in the Bush was consumers borrowing and spending. Consumers are in no rush to help get out of this recession and may never get back to previous levels of spending. Which isn’t so bad, really, but if you want GDP to go up, you have to do something for it. Like support the creation of an alternative energy economy, for instance.

  6. Delaware Republican says:
    July 15, 2009 at 2:35 pm

    I assume you liberals did not take economics in high school or college because you offer quick snippets which have nothing to do with reality.

    This recession is different and will be much worse because of the implosion of asset wealth and so much accumulated debt. The real unemployment numbers are much higher than 9.5% and after we crack 10% it will likely stay way above 8.5% for 2-3 years.

    The GOP does not have to hope for an economic tsunami, Obama is presiding over one. It is here now. The DEM election strategy is higher taxes, more government and huge debt.

    The real hoot is the savagery Obama has dropped on minorities.

    http://delawarerepublican.wordpress.com/2009/07/14/obama-has-left-minorities-to-wither/

    Who is more clueless, Obama or Hugo Chavez?

    Mike Protack

  7. Geezer says:
    July 15, 2009 at 2:37 pm

    “You offer quick snippets which have nothing to do with reality.”

    Sounds like Protack is talking about himself again.

  8. anon says:
    July 15, 2009 at 2:39 pm

    Protack, at some point reality banked hard to the left but you just kept going straight.

  9. jason330 says:
    July 15, 2009 at 2:41 pm

    anon,

    you rock.

  10. delacrat says:
    July 15, 2009 at 4:10 pm

    How long does it take to exit afghanistan, iraq, pakistan, korea, germany, japan …….

  11. Phil says:
    July 15, 2009 at 4:47 pm

    The problem with this recession is that we have no manufacturing base. I believe that this recession will only get worse as time goes on. The commercial real estate market is going to take a crap, and then inflation is going to hit. We also keep printing worthless money, and throwing it to wall street. The only way that we can get out is to produce our way out.

    You really can’t look to the Great Depression to see how to get out of this mess. In the 30’s, we actually had reserves, as well as a trade surplus. Also, most people didn’t own their own homes, and weren’t thousands of dollars in debt. The reason the programs worked then was because it was pumped into manufacturing. One great example was WW2.

  12. callerRick says:
    July 16, 2009 at 8:26 am

    What ended the Great Depression was WWII….not government programs. BO’s economic team told us that the ‘stimulus’ would work ‘within weeks,’ remember? We’re headed for stagflation, Jimmy Carter style….luckily, BO will share Carters’ fate in ’12.

  13. Unstable Isotope says:
    July 16, 2009 at 8:30 am

    Thanks for your Amity Shlaes talking points, but government spending did end the Great Depression. Even if you buy Shlaes re-writing of history, WWII spending is still “government spending.”

  14. anon says:
    July 16, 2009 at 8:37 am

    stagflation, Jimmy Carter style

    Dope… stagflation started during the Nixon Administration and was a global phenomenon, mostly due to the industrial economies making adjustments to oil price shocks. Carter was only president for four years and he inherited stagflation from Nixon.

  15. Perry says:
    July 16, 2009 at 9:23 am

    Anon, UI, you must understand that, to callerRick, everything bad started with the Dems, everything not bad, with the Conservatives. If that’s not bad enough, he has a bad record on election predictions. Rick, you need to overcome your bad thinking habits!

  16. Phil says:
    July 16, 2009 at 4:23 pm

    Goverment spending period did not end the great depression. It was production that did. You can’t put worthless paper into the stock market which has no real value and expect recovery. And why are we listening to the people who didn’t see it coming? They are supposed to tell us when its going to end?

  17. callerRick says:
    July 17, 2009 at 6:36 pm

    ….he has a bad record on election predictions. Rick…

    Let’s see….Reagan, Reagan, Bush, Bush, Clinton (’96), Bush, Bush, Obama. 7-for 8………..’bad.’

    Stagflation was Carters’ baby…..period.

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