Skip to main content

View Diary: Did President Obama Save Us From a Second Great Depression? NO (114 comments)

Comment Preferences

  •  lol. Yeah, you better change the subject... (3+ / 0-)
    Recommended by:
    joe shikspack, aliasalias, Jarrayy

    since this is in my first paragraph.

    Despite the stimulus, although helpful, but ultimately inadequate to the task(as Baker, Krugman, and others predicted)
    Too bad you can't seem to read anything well or hide that you implied the auto rescue by itself prevented a Great Depression.

    I'm referencing Dean Baker and the CEPR which is superior. (Mark Zandi is OK though you probably don't know Moody's rated junk bonds AAA) and everything is cited in the diary(economic history you don't understand) which has to do with the bailouts(by the context you don't understand) but the nation is still technically experiencing deflation so that's wrong.

    The biggest losers for the month were Chicago, where prices fell by 1.1 percent; Atlanta, where prices dropped by 1.3 percent; and Detroit, where prices plunged 3.5 percent in December. Over the last three months, prices in Detroit fell at a 20.3 percent annual rate; although, they were still up by 0.5 percent for the year. There is clearly a lot of speculative buying in Detroit right now as investors have moved in to take advantage of low prices. This is likely to lead to more erratic price movements; although, the general direction there is likely to be higher given how far prices have already fallen.

    It is worth noting that even the relatively positive news on new and existing home sales showed sharp decline in prices. The January data on existing home sales showed that the median sale price was $154,700, compared with a year-round average of $166,100. The average price in January was $201,200 compared with a year-round average of $214,000. In other words, even these seemingly positive reports are still consistent with the picture of a market where prices continue to decline.

    Your link says the economy is still weak and "what could have" and probably" are qualifiers and hyperbolic and not the best terms for analysis here despite the helpful things in this study I acknowledged in my first paragraph.

    So everything in my diary is correct if you can understand context or economic history of depressions and you cannot.

    Pro Life??? Conservatives want live babies so they can raise them to be dead soldiers!- George Carlin - I Illustrate #OWS protest T-shirts you can buy at priceman political prints

    by priceman on Thu Mar 01, 2012 at 12:50:16 PM PST

    [ Parent ]

    •  So your stance is that if Obama had done nothing (1+ / 0-)
      Recommended by:

      about the economy upon taking office (no stimulus, no auto rescue, no TARP), there was no possibility we would have had a depression.

      And you felt that was a vital point that had to be made at the expense of trying to make rightwing Republicans less likely to hold poltical power.

      "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

      by Geekesque on Thu Mar 01, 2012 at 01:10:39 PM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site