US: strongest growth in 11 years

[Dresta]

Kevin and his aggregated statistics. You would have thought that someone who posts so much about economics would at least know about the broken window fallacy. Do you know how easy these statistics are to manipulate? Have you not seen how they've claimed to cut the debt without actually doing so (just moving the money to a place where it doesn't count as debt)? JEE-SUS CHRIST you are one credulous mother****er.

'strongest growth in 11 years' - seriously, what does that even mean? Debt-fuelled consumption does not produce sustainable growth, even if it boosts the GDP stat.

All this started after the fed ended quantitative easing, so this post is basically 100% inaccurate.
And yes, it is a win for the average American. Hiring is seeing its first real big growth in a long time.

Thanks for proving you know nothing about quantitative easing (which hasn't really been 'stopped', only reigned in, and which doesn't immediately stop impacting the economy after being halted).

Even Mavs is admitting this 'growth' has benefited the rich; though how this makes Obama a 'all-time great domestic President' is somewhat beyond my comprehension.

Based on those pictures you can see that all groups are not doing as well as they were before the recession. Almost all of the economic benefits of the recent growth is taken by elites of this nation

Been saying that on here for ages. Amazing some are still denying it.

[bagelred]

The country is finally getting its shit together.

Well, time to put a Bush in the White House to ruin it all. Cause dem libruls are just socialist, commie stoopid heads.

[Dresta]

The country is finally getting its shit together.

Well, time to put a Bush in the White House to ruin it all. Cause dem libruls are just socialist, commie stoopid heads.

The recovery policies under Obama was simply a continuation of policies undertaken by the Bush administration, with the same FED reserve chairman at the helm.

It's all driven by political short-termism, a consequence of centralised democratic power. Of course the numbers are going to look good when you can keep kicking economic realignment into the future, as you get other countries to but up your debt. Looking out numbers without bothering to consider what is behind them is an exercise in futility.

[Dresta]

Sounds like more austrian shit with absolutely no evidence to back it up.

Austrian? Learn your history of political thought before spouting such bs, seriously. The idea was at least around in the time of Hume (long before the Austrian economic school), and present in Tocqueville, Mill, and pretty much every sensible political thinker. It is pretty much a truism when it comes to politics, especially when politicians control the economic sphere.

Again, you know nothing about Austrian economics other than the slanders you have read in Krugman's op-ed pieces (perhaps Brad DeLong too). This is not having your own opinion, it is copying someone else's.

Have you read any Austrian economists even (i very much doubt it, twould be to difficult for you)? So why deign to talk about it then, as if you had even the simplest understanding of what it entail?

Aggregated, distorted and inaccurate statistics are not 'evidence' - you don't even understand what this word means, apparently. A model that doesn't come close to replicating real world conditions, and that is based on assumptions that are never true, is again, not evidence.

Then again, poorly educated plebs have always been slaves to statistics - that's probably their primary function (in politics, anyway): helping morons to embrace their own servitude.

As for QE, well yeah, it's officially 'stopped' except MBS purchases have only been reduced from $5 billion a month to $4 billion, instead relabelling them as 'reinvestments' so most don't even notice. Tis what is done with all government economic statistics, so you should stop considering them to be 'evidence.'

Gonna bookmark this thread so i can laugh in your faces when the inevitable QE4 comes into force.

[HitandRun Reggie]

Amazing since Europe's economy is still in the toilet and China economy has at it's slowest pace since the financial crisis.

[GimmeThat]