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Could our current recession be due to the war?

dstebbins

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I mean think about it. The deficit is clearly due in large part to the War on Terror, and with so many people in the National Guard getting called to Iraq, there are a lot less people at work, which hurts the economy. Despite the deficit, taxes are so high right now to pay fr the war that, even with my low wage right now, I'm paying around thirty per cent, and if income taxes are progressive, then that means rich people are paying upwards of fifty to sixty per cent.

So what I'm thinking is, if we remove our troops from Iraq, could we have the same economic boom that we had in the 90s?
 

cnredd

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dstebbins said:
I mean think about it. The deficit is clearly due in large part to the War on Terror, and with so many people in the National Guard getting called to Iraq, there are a lot less people at work, which hurts the economy. Despite the deficit, taxes are so high right now to pay fr the war that, even with my low wage right now, I'm paying around thirty per cent, and if income taxes are progressive, then that means rich people are paying upwards of fifty to sixty per cent.

So what I'm thinking is, if we remove our troops from Iraq, could we have the same economic boom that we had in the 90s?
I think you should move to America, where none of what you've said is happening...
 

FreeThinker

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cnredd said:
I think you should move to America, where none of what you've said is happening...
LOL.

It must be awesome to be a mod and to a reverse dns lookup to see where people are posting from. I wonder how many people pretend to be in america just to bash it.

To the guy that made this thread: the economy is doing great. I just bought a new car. US soldiers get paid by the US gov't and spend most of their cash here (car payments, house payments, families). Most of the cash gets recycled back into our own economy anyway. If you want to complain about high taxes go yell at Clinton.
 

cnredd

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FreeThinker said:
LOL.

It must be awesome to be a mod and to a reverse dns lookup to see where people are posting from. I wonder how many people pretend to be in america just to bash it.

To the guy that made this thread: the economy is doing great. I just bought a new car. US soldiers get paid by the US gov't and spend most of their cash here (car payments, house payments, families). Most of the cash gets recycled back into our own economy anyway. If you want to complain about high taxes go yell at Clinton.
Nah...He's in America(at least the host company is an American one...They COULD be international)...

My point was sarcastic...you missed it...:shrug:
 

oldreliable67

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Recession? What recession? Ten straight quarters of GDP growth in excess of 3% certainly doesn't fit any definition of recession that I ever heard of.
 

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Messerschmitt

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I saw this and couldn't help but not throw in some economical Facts to back up cnredd. Right now our economy is actually doing too well: because when ever an economy is going strong inflation sets in and prices on everthing rise, to keep this from happening the government increases taxes to actually help the economy from growing too fast!
 

cnredd

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Messerschmitt said:
I saw this and couldn't help but not throw in some economical Facts to back up cnredd. Right now our economy is actually doing too well: because when ever an economy is going strong inflation sets in and prices on everthing rise, to keep this from happening the government increases taxes to actually help the economy from growing too fast!
I am, by no means, an economist, but from what I know, it's not so much a tax increase that will offset an inflation, but a rise in interest rates...which have been increasing.....s-l-o-w-l-y....
 

alphieb

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dstebbins said:
I mean think about it. The deficit is clearly due in large part to the War on Terror, and with so many people in the National Guard getting called to Iraq, there are a lot less people at work, which hurts the economy. Despite the deficit, taxes are so high right now to pay fr the war that, even with my low wage right now, I'm paying around thirty per cent, and if income taxes are progressive, then that means rich people are paying upwards of fifty to sixty per cent.

So what I'm thinking is, if we remove our troops from Iraq, could we have the same economic boom that we had in the 90s?
Please define recession for me? Who said we are actually in a recession and where did you get that information?
 

alphieb

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Now I see where other people have addressed the same question. I just read post #1 and responded.
 

oldreliable67

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RE: Recessions

Some years ago, the Dept of Commerce delegated the task of determining business cycle dates to the National Bureau of Economic Research (NBER), an independent economic research organization. The NBER's Business Cycle Dating Committee analyzes masses of econ data to determine when economic expansions stop and recessions start.

The economy, according to the NBER, has been in an economic expansion since November 2001. The current expansion began after a short (8 months) contraction than began in March 2001, ending as noted in November 2001. Thus far, this expansion has lasted 120 months, as compared to the average peacetime expansion of only 52 months. It also exceeds the 92 month expansion during the Clinton administration by 28 months.

The NBER is an excellent independent source of economic analysis and research.
 

oldreliable67

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RE: Recessions redux

Had meant to include info on how the NBER determines the start and stop dates of recessions. Quoting from the NBER FAQs page:

Q: The financial press often states the definition of a recession as two consecutive quarters of decline in real GDP. How does that relate to the NBER's recession dating procedure?

A:: Most of the recessions identified by our procedures do consist of two or more quarters of declining real GDP, but not all of them. According to current data for 2001, the present recession falls into the general pattern, with three consecutive quarters of decline. Our procedure differs from the two-quarter rule in a number of ways. First, we consider the depth as well as the duration of the decline in economic activity. Recall that our definition includes the phrase, "a significant decline in economic activity." Second, we use a broader array of indicators than just real GDP. One reason for this is that the GDP data are subject to considerable revision. Third, we use monthly indicators to arrive at a monthly chronology.
There are other considerations addressed at the NBER FAQs page if you want to learn more.
 

Stinger

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Messerschmitt said:
I saw this and couldn't help but not throw in some economical Facts to back up cnredd. Right now our economy is actually doing too well: because when ever an economy is going strong inflation sets in and prices on everthing rise, to keep this from happening the government increases taxes to actually help the economy from growing too fast!
And inflation is actually under control, high inflation and hyperinflations generally arise when governments inflate the money supply on purpose and that isn't happening. In fact word on the street is the the FED may start lowering interest rates in response to even keel the economy is on right now.
 

alphieb

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dstebbins said:
I mean think about it. The deficit is clearly due in large part to the War on Terror, and with so many people in the National Guard getting called to Iraq, there are a lot less people at work, which hurts the economy. Despite the deficit, taxes are so high right now to pay fr the war that, even with my low wage right now, I'm paying around thirty per cent, and if income taxes are progressive, then that means rich people are paying upwards of fifty to sixty per cent.

So what I'm thinking is, if we remove our troops from Iraq, could we have the same economic boom that we had in the 90s?
Its interesting that you know we are in a recession, because one never knows that until after a couple quarters have passed. It is then based on the past performance. At this point nothing is indicative of a recession.
 

robin

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Recession, recession !
There's no recession in the arms industry. They donate $millions to politicians & make billions from arms sales as a kickback. That's a pretty good return on their investment. Can you wonder why WMD reports were sexed up.
 

alphieb

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robin said:
Recession, recession !
There's no recession in the arms industry. They donate $millions to politicians & make billions from arms sales as a kickback. That's a pretty good return on their investment. Can you wonder why WMD reports were sexed up.

No, I'm not real clear on what your saying? Who is they?
 

Axismaster

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dstebbins said:
I mean think about it. The deficit is clearly due in large part to the War on Terror, and with so many people in the National Guard getting called to Iraq, there are a lot less people at work, which hurts the economy. Despite the deficit, taxes are so high right now to pay fr the war that, even with my low wage right now, I'm paying around thirty per cent, and if income taxes are progressive, then that means rich people are paying upwards of fifty to sixty per cent.

So what I'm thinking is, if we remove our troops from Iraq, could we have the same economic boom that we had in the 90s?
Hell yes. One of the key ingredients of that boom was peace.
 

ANAV

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The DOW is aproaching 11,000, currently 10959.31
The NASDAQ is at 2305.62, a four and half year high
The housing making is still booming
Unemployment rates are consistantly falling

This is a recession?
 

ProudAmerican

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I see leftists post in this forum continually that there is no liberal media.

This thread is proof thats EXACTLY what kind of media we have.

This economy has been ROCKIN AND ROLLIN right along.....and suposedly we are in a recession.

LMAO.
 
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