Open Thread (7/14/2008)

You're giving them far too much credit, Gordy.

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j
Part-Time Pundit

A recession is a technical term. It means two quarters of negative GDP growth. 

 According to the last numbers from the BEA that I saw, we're still growing.

Predictions show a growth for the year as well.

That's not to say we aren't facing problems, but you'd think examples like this would show how it's bad politics for the left to be CAUSING economic misery, especially when it is not warranted.  The long-term sustained economic warfare that *some* Democrats have been waging on the United States economy speaks volumes about their moral compasses and their fitness for governing.

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j
Part-Time Pundit

There's now a libel suit against publishers of the bible ...

http://newsblogs.chicagotribune.com/religion_theseeker/2008/07/can-you-sue-the.html

There's now a libel suit against publishers of the bible ...

http://newsblogs.chicagotribune.com/religion_theseeker/2008/07/can-you-sue-the.html

Well, Mr. Fowler is most certainly bewildered, demoralized, and mentally unstable and he should have no problem proving it. But he had best take up his problem with the Author since he has trouble with his Word.

Certainly the Bible is seriously tough on homosexuality, the same as it is with all forms of perversion.  If you think Paul is a bigot, compare Moses.  Of  course this is only bigotry to those trying to find a cloak for their errata.  The deeds of the flesh are evident.  God will not be mocked, whatsoever one sows that also shall he reap. 

Maybe Fowler overlooked Psalm 91.2-3.  (Zondervan usually need not worry.)  I will say of the LORD, He is my refuge and my fortress: my God; in him will I trust. Surely he shall deliver thee from the snare of the fowler, and from the noisome pestilence.

And Psalm 68:11 - The Lord gave the word: great was the company of those that published it.

:)

There's now a libel suit against publishers of the bible ...

Actually, if you'll look closely, it's not about "the Bible" at all, but particular words translated in a particular way that may not be supported by the text. Not that I think he has much of a legal leg to stand on.

It's all moot, of course, since Ragnarok is imminent and with it, the return of the True Gods who will destroy the world in their battle with the evil giants.

Then we've found The Messiah just in time.

Along with his trusty sidekick, Saint McMaverick. Why does this duo remind me of a bad X-Men knock-off?

According to the last numbers from the BEA that I saw, we're still growing.

Of course this assumes that the GDP is an accurate measure of the nation's economic health.  But the GDP number is incredibly biased for growth and is no longer healpful in measuring the economy.  For example, GDP includes "imputations", also known as phantom income, which have been slid into the equation that is used to measure nationwide personal income data.  So the BEA now counts the imputed income from owning your own home, the benefit you receive from a free checking account, and even the value of employer-paid health- and life-insurance premiums.  Last year imputed income accounted for 15% of total GDP.  Go figure.

Worse yet is the "birth/death of businesses equation" that is now used to fudge employment numbers by creating phantom jobs.  And of course we are still using unemployment numbers that do not accurately reflect the real level of unemployment in the workforce as "discouraged" workers are no longer counted, much less "long-term discouraged" workers, nor social-security disability recipients.  The fact is that unemployment in this country is probably over 8 or 9 percent.  The government has just stopped counting everyone.

I could go on.  The CPI is now a joke (look up C-CPI-U).  Anyone ever heard of "product substitution", "geometric weighting" or "hedonic adjustment"?

The truth is that the numbers have been fudged for decades now to make the economy appear much better off than it actually is.  In times like these the real numbers would scare the living sh#t out of most people, so it might be better that we don't know.  But it would nice to think somebody somewhere is paying attention to the real world instead of these imaginary statistics.

I won't even bother addressing the idea that liberals are to blame for this economy.  This bad boy is born and raised in deregulation.  You conservative kids have had your ideas come to fruition and guess what?  We're screwed.  Twenty-eight years of sophomoric economic analysis and ideas have resulted in one of the worst economies we have seen in the history of this country.  You all advocated letting the foxes run the hen house and now we are supposed to be surprised to find nothing but feathers?

Four more years of conservative economics might actually kill this country.  I'm serious.

Heh.

Ah, if only I had a dollar for each time I got the famous IP "Heh." when discussing the problems in Iraq over the last few years ...

Gramm wasn't disowned for what he said... but the way he said it.

It is my opinion that McCain distanced himself from Gramm (who will definitely be back if McCain wins) because of Gramm's ties to the Enron scandal and the deregulation of the mortgage securities sector.  I don't think anyone is even bothering to dispute the fact that the Gramm-Leach-Bliley Act is one of the main causes of the collapse of the mortgage industry anymore.  It was going to be tough to have to sit through endless ads and attacks on Gramm's horrific actions as a Senator, all with the "John McCain's top economic advisor" tag added in.  So, consistent with the tone of his campaign, McCain through his old good friend under the bus faster than you can "foreclosure".

It will be interesting to see how many times the word "deregulate" is invoked positively and negatively during this campaign.  It seems to me the common wisdom is now pointing toward that word as toxic, akin to saying "Liberal" a few years ago, or "terrorist sympathizer".  Anyone pushing for more deregulation to solve our economic problems is going to be met with a collective blank stare.  Thus, Gramm, the great deregulator, can sit the rest of this campaign out.

Thanks!  I'll take that as a compliment.

To shed a little light, my geeky-ass-self has spent my free time studying up a bit on the state of our economy.  I am very, very worried, though I won't bore you with the details.  There are fundamental problems in this country right now that will not be quickly fixed, but which must be addressed immediately.  I am not kidding when I say that four more years of neglect will prove disasterous for this country.

But perhaps I am being melodramatic.  If so, I apologize (I hear the word "hyperbole" somewhere in our future).  But at least know that I am not pulling my melodrama out of my tush.  It is my research that has led me to paranoia, not the other way 'round.

In the meantime, it sure is a beautiful day!  At least we don't have to worry about the homeless freezing to death tonight.  We'll leave those worries 'til December.