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View Diary: POTUS and Rep. Pelosi Announce Plans to Win Back the House (317 comments)

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  •  saved the economy from going over the cliff (1+ / 0-)
    Recommended by:
    gooderservice

    Correct.

    But we've had a double dip, and a triple dip. 3 recessions in 4 years.......

    .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Fri Jun 07, 2013 at 09:34:13 PM PDT

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    •  We haven't had double dip recession. (4+ / 0-)

      UK has had a double dip recession (due to Cameron's austerity) and barely missed a triple-dip recession, but the US hasn't.  (using the typical definition of "recession" as "two or more consecutive quarters of negative economic growth").

    •  That's simply not true. (4+ / 0-)

      No reputable economist has argued that we've had a double dip recession, let alone a triple dip. Please specify which months experienced falling GDP? I don't know how you track recessions, but using the standard economic metrics, we never had a double dip and certainly were nowhere close to triple-dip numbers.

      Here's my take on it - the revolution will not be blogged, it has to be slogged. - Deoliver47

      by OIL GUY on Fri Jun 07, 2013 at 11:25:04 PM PDT

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      •  2 consecutive declining quarters? (0+ / 0-)

        1-3 FQ-2010: 4%, 2.3%, 2.2%
        3rd FQ 2010: 2.6%, 1st & 2nd FQ 2.4%, 0.1%
        2012 FQ 1-3: 4.1%, 2%, 1.3%.


        Source: tradingeconomics.com

        http://www.bsu.edu/...

        http://www.data360.org/...

        .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

        by Roger Fox on Sat Jun 08, 2013 at 11:11:32 AM PDT

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        •  No, two consecutive quarters of *negative* growth. (2+ / 0-)
          Recommended by:
          NedSparks, OIL GUY

          Your stats show a decline in the rate of positive growth for those particular quarters.

          By contrast, here is UK's GDP chart since 2008.  You see the initial huge recession in 2008/2009 (5 consecutive quarters of negative growth), then you see at the end of 2011 and start of 2012 three more consecutive quarters of negative growth (which is the double-dip).  Thanks to Cameron's austerity program (a REAL austerity program, proudly proclaimed as such).

          •  I stand corrected (1+ / 0-)
            Recommended by:
            Tony Situ

            NBER has 8 recessions since 1960, 15 instances of negative quarterly growth. SO yeah.

            Even going to 3 consecutive quarters of declining growth allows for dozens of recessions by that metric.

            .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

            by Roger Fox on Sun Jun 09, 2013 at 04:56:09 PM PDT

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