Economics again

[andysocial]

Could someone who knows more about economics than I please explain how these various indicators are not showing a poor economic plan, or at least tell me how the Republicans are explaining this as a good thing?

Second-quarter growth fell to 3 percent compared with 4.5 percent in the first quarter and about 8 percent in the third quarter of 2003. Personal income growth fell to 0.2 percent; personal consumption expenditures also fell, by 0.7 percent. Housing starts were off 8.2 percent. New-home sales fell 0.8 percent. Industrial production fell 0.3 percent. The July jobs report shows just 32,000 new jobs and a cut of 34,000 in the estimates previously released for June (for a net loss of 2000 jobs in July, when tacked onto the June numbers as originally reported). The Dow Industrials fell 8% in 6 months, and the Nasdaq is down 15% in the same six months.

I know the economy is more than just these indicators, but these sure seem to add up to a bad thing in my perception, and I'm sure in most non-economist minds as well.

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Comments

[ernunnos.livejournal.com]

Of course it's bad. And of course Bush is partly to blame. And it will get worse. But the economy was going to suck for a while anyway because of the way Clinton loaded it up. Bush just chose to continue Clinton's plan so he would have a chance at a second term. I hope he'll get a second term and make an about-face then. I'm certain that if Kerry gets elected he will continue the trend in the hopes of a second term just like Bush did. So there's no hope there.

[partywhipple.livejournal.com]

Man it's painful cause it's so damn true.

[andysocial]

So, you're basing your support for Bush's economics over Kerry's on the hope that he'll do exactly the opposite in his second term than his first term?

[ernunnos.livejournal.com]

Yup!

I admit, it's Russian Roulette. We may still get our heads blown off. But Kerry's economics are Russian Roulette with a semi-auto.

[andysocial]

Doing the same thing with hopes of wildly different results is sometimes considered a hallmark of insanity. :-)