MrBishop
Well-Known Member
You do realize that most of that article basically says that either the USA is currently in a recession (by any other name), or is about to do so...right?
Recession? We don' need no steenkeen recession!
- Thread starter jimpeel
- Start date
2minkey
bootlicker
well, if he don't unnerstand GDP, whattya expect?
(mice shoot from seven directions as peel pries himself off a long passed-on 14 year-old dressed like a housewife from 1917 - eeeek! - and scurries to google furiously...)
MrBishop
Well-Known Member
Granted...but to edit a pre-existing post so that it makes a riposte meaningless is not simply a matter of editing a grammatical error or layout error...it's tantamount to spin-doctoring
2minkey
bootlicker
it's okay, he knows i'm just fucking around.
MrBishop
Well-Known Member
jimpeel
Well-Known Member
Regardless of the OPINION -- have to please Spike -- of the article we are not in a recession; and we have not had ONE quarter of negative growth let alone the two necessary to be declared so.
There is no recession other than the one coming out of the mouths of the news readers!
jimpeel
Well-Known Member
I posted the definition HERE and it clearly states:
http://www.sparknotes.com/economics/macro/measuring1/section1.html
- GDP is a number that expresses the worth of the output of a country in local currency.
- GDP tries to capture all final goods and services as long as they are produced within the country, thereby assuring that the final monetary value of everything that is created in a country is represented in the GDP.
- GDP is calculated for a specific period of time, usually a year or a quarter of a year.
Anyone have a problem with that definition?
MrBishop stated:
How does that jibe with what is posted above? Saudi and other OPEC nations' imports are not "produced within [this] country". Their imports do not reflect the "output of [this] country".
jimpeel
Well-Known Member
I posted the original post at 8:49A and it took until 8:56 to repost it in its edited form because I added the reference link. You posted your ripost at 8:55 and I have not yet seen it as I was busy trying to make the correction and add the reference.
If you had used the quote button to respond, the post would have been there in its original form. There was no effort to edit after you posted to make your ripost invalid. It just happened that way; unless you believe that I could have done all of tyhat in one minute flat just to try to make you look bad.
BTW. The edit function is also available to you and you could have modified your ripost to reflect what I edited.
2minkey
bootlicker
you may have posted that definition but some of your other commentary made it obvious that you didn't really understand its meaning. perhaps you corrected yourself later, and perhaps you have a better idea of what it means now, i dunno, but i'm not about to sort through all your long-winded posts. if you can't make a real point in a paragraph, ya ain't got one. and you certainly didn't get it right the first time. if you'd taken econ 101 + 102 we wouldn't be having this conversation.
jimpeel
Well-Known Member
We're all just here having fun. No harm, no foul. I never take what anyone says here as a personal affront even if they mean it as one.
jimpeel
Well-Known Member
Mayhaps...but I sure as hell didn't know.
He has a standing invite to go out for a beer the next time he comes to CO. You too if you ever make it here.
We have some of the finest microbrews in the nation here in CO.
jimpeel
Well-Known Member
Or a free beer?
jimpeel
Well-Known Member
I think he'd more in need of a coupon for some nice poon-tang, but that's just IMHO
I'd just spend it at home.
jimpeel
Well-Known Member
Tang started the recession??!?
Damn....mom told me that it would lead to no good
Stop that! You'll go blind! Show me your palms, young man!