Chris Christie Republican Candidate for Governor of New Jerseys, tells Imus “I’m Going To Be A Big Fat Winner”

http://youhavetobethistalltogo.....asing.html

All Eyes on the New Jersey and Virginia, Governor Races November 3rd (5 days away) *litmus for how the 2010 elections will proceed?

“@JimPethokoukis BananAmerica: Strip out Cash for Clunkers and economy would have grown by only 1.9 percent”

So half of total “growth” was from the money-burning program

More”
“@JimPethokoukis Obama’s Potemkin Economy: Artificial economic growth from Cash for Clunkers, ghost stimulus job, fantasy healthcare savings”

http://www.englishforums.com/E.....m/post.htm
“Potemkin as in ‘Potemkin Village’ a false display for a head of state, to gain prestige.Potemkin was a general in the time of ‘Kitty the Great’. * Other uses: Potemkin Economy … an economy that seems prosperous, but is propped up by artificial means or constructs.”
* Enron ran its own Potemkin Economy before its demise.

From Pethokoukis’ blog

“Indeed, during the first quarter of the last 10 economic recoveries, real GDP rose a far more impressive 5.8 percent on average. For instance, the first five quarters of the Reagan Boom coming out of the 1981-82 recession showed GDP growth of 8.1 percent, 9.3 percent, 8.1 percent, 8.5 percent, and 8.0 percent.”

They will simply continue to borrow and spend like drunken sailors.

They will spend enough to make the GDP go up 3 more quarters so they will be able to claim that the country has recovered.

Who knew that the government effectively has control of the GDP. Spend more and it goes up. Simple. BY DEFINITION, the government can control it. They could have controlled it earlier, but they didn’t want to. Why not, you ask? Answer: the elections aren’t for another year.

But it will all be smoke and mirrors.

Every dime of it will be borrowed from our children.

They will live as serfs so that the Obamy Cabal can be re-elected.

“GDP = private consumption + gross investment + government spending + (exports − imports) – Government Borrowing”

http://www.foxnews.com/politic.....htly-week/

“The Labor Department said Thursday its tally of newly laid-off workers seeking unemployment insurance fell by 1,000 to a seasonally-adjusted 530,000. Analysts expected a steeper drop to 521,000, according to a survey by Thomson Reuters….

Still, the four-week average of claims, which smoothes out volatility, fell for the eighth straight week to 526,250, its lowest level since early January. Claims are slowly declining as companies lay off fewer workers.”

So let’s cipher:

1. 530,000 people lost jobs last month.
2. “Analysts expected a steeper drop to 521,000″.
3. But by doing a four-week average, you can pretend the number is 526,250
4. So claims are below what was expected

Got it?

Meanwhile:

“The number of people continuing to claim benefits, meanwhile, dropped sharply by 148,000 to 5.8 million, a steeper drop than analysts expected. The figures on continuing claims lag initial claims by a week.”

So bottom line, the idiots in the msm see this as really good news. Kind of like pulling molars out with pliars is soooo much better than gettin rabies shots.

Proreason’s analysis: Another 1 million people lost their jobs last month, when you add in the usual amount of people who have given up on ever working again.

The rise seems counterintuitive, doesn’t it? How can our country’s output INCREASE when we know from EVERY source that employment is decreasing? How can we make more stuff with fewer people? Did magic happen and everyone begin producing 4 or 5% more? Do hard times make us smarter?

Let’s explore…….because the msm will never explain it to you.

Hears what Wikipedia says about GDP:

“GDP = private consumption + gross investment + government spending + (exports − imports)”

I highlighted the key phrase that explains how GDP can RISE when production couldn’t possibly have risen. GOVERNMENT SPENDING.

This explains:

a. Why the decline over the prior year is so minor when we all know how severe the recession has been.
b. Why the upturn is so rosy. The Stimulus Scam kicked in. A .9% rise equates to about $108B in new “product” (i.e., government spending).
c. All of that spending has 0 economic value. Not a penney would is justified.

Well, guess what, “Stimulus Spending” alone has been $96B since May 22. Adjusting for the last 3 months instead of that 5 months period says that the “Stimulus Spending” in Q3 was probably north of $60B (since the spending is accelerating).

Michelle’s staff, the czars, date nights, and other government spending accounts for the other $48B.

Here are the links:

http://rutledgecapital.com/200.....een-spent/ (spending through May22 was $24.6B).

http://www.recovery.gov/Pages/.....enciesDesc (spending so far is $120.1B)

Now, what price have YOU paid to get the .9% increase in GDP?

Well, you spent about $100B to get it. Prior to the ObamySoros War on the Economy, gross income tax receipts were about $1 Trillion, so remember what you paid in taxes for 2007. The 9/10th of a percent increase in GDP has cost you 10% of what you paid in taxes in 2007…..plus interest. So far.

But you paid the real costs when you lost most of your life savings in Sept/Oct 2008. And the rest of the bill will come due when inflation shoots over 10% within a couple of years. Several hundred thousand senior citizens will die before their time when that happens. They won’t be able to afford medical care.

UPDATE: note the upblib in Q2 2008. That was the result of the much smaller Bush Stimuls. I used to wonder why it went up just because money was given away. That’s because I thought “Domestic Product” meant what the country produced. Silly me, it also includes what the government flushes down the toilet.

Now, look at what happened after Q2 2008…..some help huh?

Sadly, the boy will take credit for it and the blind-faith droolers will put him back in office for it.

Then we’ll really see some s___

Also amazing is that government fueled stimulus under G.W. was a poly that resulted in only a temporary increase in GDP, while Obama’s unprecedented deficit spending was surely a gift from God that will result in sustained growth. Nope, no media bias there.

It will be fun to see if we are still in a recession if Q4 GDP is negative.