Distortions

[pasithea]

http://www.nytimes.com/2009/07/31/business/economy/31econ.html

The recession, which started in December 2007

*cough* *cough* What was that, NY Times? Dec 2007? *tsk* I know you don't want to admit Bush the blame he's rightly due but seriously. How many people do you think you can hoodwink with a fib that big?

Comments

[pseudomanitou.livejournal.com]

I'm confused about what you are saying? You're saying the article is correct and it disproves the lies floating around out there, or you're saying the article is a lie?

[dv-girl.livejournal.com]

I don't have enough data to evaluate the rest of the article's truthfulness. If anything, it seems to be padding in favor of the Obama administration. What I object to is the claim that the current recession started in December of 2007 (a year and a half ago)

We've not really come out of recession since 2000 IMO.

[bohor.livejournal.com]

Eh...technically it's correct though. The most common definition of a recession is two consecutive quarters of falling GDP. It's not a direct measurement of standard of living or anything useful like that.

[paka.livejournal.com]

Huh. I've been running into a lot of "what recession? Things are golden" attitude lately. It's not something connected to the barometric pressure, is it?

[neonbunny.livejournal.com]

Yes, things always appear more clear later on. I think we'll find out later that the recession actually ended around December 2008...

We are now at the begging of the next bubble. When it'll pop, remains to be seen.

[prickvixen.livejournal.com]

Hey! Why would that liberal rag protect the great Bushie? You're through the looking glass!

[captpackrat.livejournal.com]

From an article on MarketWatch back in January:

Bush's final week as president left the Dow Jones Wilshire 5000 Index -- as of Friday's close -- down 5.5% on an annualized basis during his second term. In combination with the 1% gain eked out during his first four years, Bush leaves office with the stock market down 2.3%, annualized, over eight years.

The devaluation of the stock gauge gives Bush the dubious distinction of being the first president of the past five to oversee any decline at all, according to Wilshire Associates.

Ronald Reagan presided over a annualized gain of 12.1% in his first term, and then a climb of 16.1% during his second, translating into an overall annualized rise of 14.1% when he left office in 1989.

In his one and only term as president, George H. W. Bush presided over a 14.5% advance in annualized returns on the DJ Wilshire 5000.

Bill Clinton had the best results overall, at least in looking at yearly returns from the broad market gauge. The Wilshire rose 17.7% during his first term, which ended in 1997.

Of course, Clinton fared less well, in both political and in Wall Street terms, during his second term. Yet the index still climbed 13.5% for a collective 15.6% during his eight years in the Oval Office.