Larry Summers: Hey, it's party time, the recession is over and jobs by spring!

Quote from Kassz007:

I think you are confused as to the definition of a recession. Recession does not simply mean "bad economic times".
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I think you're confused about the meaning of the word growth. It does not mean government pumping hundreds of billions into the economy.
 
Quote from PlusMinus:

I think you're confused about the meaning of the word growth. It does not mean government pumping hundreds of billions into the economy.
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Please look up the definition of GDP and tell me where government expenditure comes in. Please research some of the causes of the Great Depression. How would you like to owe $300,000 on your mortgage, only to find out that since the government didn't intervene in the economy, deflation has taken hold and it will take you 20 more years than planned to pay off your house.

USA should be begging for inflation so they might actually have a chance to pay off some debt within the next 50 years.

Like it or not, government spending matters and should be included in the calculation.
 
Quote from Kassz007:

Please look up the definition of GDP and tell me where government expenditure comes in. Please research some of the causes of the Great Depression. How would you like to owe $300,000 on your mortgage, only to find out that since the government didn't intervene in the economy, deflation has taken hold and it will take you 20 more years than planned to pay off your house.

USA should be begging for inflation so they might actually have a chance to pay off some debt within the next 50 years.

Like it or not, government spending matters and should be included in the calculation.
More...

O.K., I'll get right to that. But first, pPlease do some research on the first oil shock of the 70s, and how massive dollar devaluation can lead to economic ruin.
 
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