Did They Ring The Bell Today on Wall Street?

[planosteve]

..and the already known brisk economic growth of the 2nd quarter..has been revised UPWARD..to a MORE brisk 4.6%..this ups the ante for the Fed.

But, it shrank 2% in the first quarter!

[GFB]

..and the already known brisk economic growth of the 2nd quarter..has been revised UPWARD..to a MORE brisk 4.6%..this ups the ante for the Fed.

But, it shrank 2% in the first quarter!

Certainly appears to have been an anomaly..and related to the bad winter as reported.

[scarlett~nc]

never mine

[planosteve]

Here's the problem....
What economic growth there has been has all gone to the top 10% income earners. The economic growth of the 90% of the rest of the popuation has actually decreased. These are the people that do the major share of the buying.

Economic Growth.jpg (47.66 KiB) Viewed 737 times

http://www.vox.com/xpress/2014/9/25/6843509/income-distribution-recoveries-pavlina-tcherneva

[planosteve]

I would love to show this graph to Yellan and get her reaction.
It is a good example of what is wrong with macro economics. The devil is usually in the details, but are masked by the aggregate numbers. If it didn't feel like a recovery now you know why. If you aren't in the top 10% you aren't recovering. And you will be expected to pay it all back in the future.

[GFB]

Pretty meaningless graph.

Some people made a good deal of money during the "expansions."

They would be the same people that accrued great losses in the "contractions."..which the graph doesn't show.

[planosteve]

Pretty meaningless graph.

Some people made a good deal of money during the "expansions."

They would be the same people that accrued great losses in the "contractions."..which the graph doesn't show.

Yeah right, what would a PHD professor of economics know about anything???
http://pavlina-tcherneva.net/

[GFB]

Pretty meaningless graph.

Some people made a good deal of money during the "expansions."

They would be the same people that accrued great losses in the "contractions."..which the graph doesn't show.

Yeah right, what would a PHD professor of economics know about anything???
http://pavlina-tcherneva.net/

It's meaningless because it cherry picks time elements..and calls that "facts collecting."

[GFB]

Pretty meaningless graph.

Some people made a good deal of money during the "expansions."

They would be the same people that accrued great losses in the "contractions."..which the graph doesn't show.

Yeah right, what would a PHD professor of economics know about anything???
http://pavlina-tcherneva.net/

"PHD in Economics"..pretty much defines "political hack."

[planosteve]

Pretty meaningless graph.

Some people made a good deal of money during the "expansions."

They would be the same people that accrued great losses in the "contractions."..which the graph doesn't show.

Yeah right, what would a PHD professor of economics know about anything???
http://pavlina-tcherneva.net/

It's meaningless because it cherry picks time elements..and calls that "facts collecting."

It doesn't cherry pick anything. It show the entire period from 1949 to 2012, the last 63 years!

[planosteve]

Pretty meaningless graph.

Some people made a good deal of money during the "expansions."

They would be the same people that accrued great losses in the "contractions."..which the graph doesn't show.

Yeah right, what would a PHD professor of economics know about anything???
http://pavlina-tcherneva.net/

"PHD in Economics"..pretty much defines "political hack."

Oh goodie. Let's play shoot the messenger. There are political hacks in every profession.

[GFB]

It's meaningless because it cherry picks time elements..and calls that "facts collecting."

It doesn't cherry pick anything. It show the entire period from 1949 to 2012, the last 63 years!

Baloney..look again..it leaves out all of the recessions.

[GFB]

Devastating recession of 74...missing..also the one of 80/81..missing...2008..missing.

This was composed by a turd with an agenda.. once again..meaningless info.

What the hell would you do without me.

And I'm at a beach in the Balkans!

[GFB]

..on my friggin'' Iphone!

[planosteve]

Devastating recession of 74...missing..also the one of 80/81..missing...2008..missing.

This was composed by a turd with an agenda.. once again..meaningless info.

What the hell would you do without me.

And I'm at a beach in the Balkans!

No matter where in the world you are, your argument is the same. If it doesn't agree with my preconceptions, it must be wrong.