Its a "growth recession!" Bwahaha

[Code_Name_D]

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=59605
Thanks to ima_sinnic

Where do they come up with these terms?

[BushHasGotToGo]

1. That's not funny

Lose your job and then laugh.

[Code_Name_D]

2. Sorry bout that

It's something of an inside joke around here. We have a few fools that will come on and make bold claims about the recovery. But of course, articels like this tend to chink their armor. And the dubble speak is halariuse.

Not to long ago, Economics Dude said "How can it be a recovery, if their is growth?" Well, we now have our answer, straite from the front lines of supply sider intulectual frontear.

[rogerashton]

3. The term "growth recession"

is far from new, and is accurate. It means a recession in relative growth rates -- slower growth than the rate required to maintain stable employment.

Here is the way it works. Suppose output grows at 2% while labor productivity grows at 3.5% -- roughly right for 2002. Then that works out to about a 1.5% decline in the number of jobs. It's a job market recession despite (modest) production growth.

It pays to Google before you deride.

[Code_Name_D]

4. Oh please.

The term is self contradictory. How in the world can it be an acurate? It may be googel, but that don't mean its genwen economics. What we have, is an administration that is so desporate to paint this economey as a growth economey, that they will use any thing to justify the claim.

Before it was a jobless recovery, now its a "growth resesion?" Two weeks from now, they will invent another new term out of the blue, and claim it as a valid defonition.

And here is a clue. If your growth isn't larger than inflation, than it ain't growth, its contraction. Our "growth resesion" is just another example of when growth isn't growth at all.

[nedlogg]

5. A jobless recovery?

Someone please explain to me what good a jobless recovery is. In my way of thinking, the purpose of a booming economy is to provide working people with their pick of high paying jobs. Anything else is meaningless.

[Code_Name_D]

6. The question is, what is a recovery.

The current standerd is entierly market based. Literly figured off of Qurterly GDP figures. Two qurters (6 months) of negitive growth is a resesion. Every thing else, is a "recovery." And of course, the markets always happens to be in recovery, even if it happens to be in a resesion. Even the worst news only "threatens" the recovery. Listen to the news, and you will see the pattern, clear as day.

The problem here is that the market defonition is bogus. It asumes tax cuts, then incresed investments (in plants), resulting with more jobs. That is also why the clame unemplyment is a "lagging" indecator. Becase rises in labor follows investments.

But the markets have little to do with the larger economey. Jobs are not being shipped out becase of the poor economey (its in recover, remeber) but in order to take advantage of cheap labor ever sees. Thus, helping the bottom line (or so they claim) of the companies, and resulting with your recovery (GDP).

Now this has resulted with a problem. The fictionl recovery now juxt apposed to the unemplyment figures. So they keep trying to come up with "defonitioins" to explane away the contradiction from their own predictions.

Its the economic version of weponds of mass distruction. Bush said their were there in Iraq, but of course, no one can find them. Bush said to be prepared for "a flood of new jobs," but again, no one can find them (unless you happen to speak Boilie)

Much of "neo-clasical" economics depends on the bull-shit facter. They deliberitly try to confuse you. Don't know what Alien Greenspan is saying? Don't panic, no one else douse eather. Its nothing more than high brow words strung together.

The so called "jobless recovery" and now "Growth resesion" are just part of that bull-shit vocabulary. They deliberitly make it sound too complicated for you to understand, so that you would just shrug and leave the details in the hands of the "experts."

But like Dr. Spock said, "you know more than you think you do."