Quote:
Originally Posted by Azoy?
Bush quoted Paulson as saying, "This is far and away the strongest global economy I've seen in my business lifetime."
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Disturbing to see the liar continuing his habit on issues which are more relevant than him and affect millions of people. The bullshit which never seems to stop is beyond any credibility.
Examples of "misconceptions":
The original estimate for 1st quarter 2007 was a claim of growth at 1.3%. That was quietly reduced more than 50% to 0.6%.
The US Bureaux of Labor Statistics (BLE) estimated a large gain of 442,000 jobs in 3rd quarter 2006. But... the much more thorough analysis done by Business Employment Dynamics (BED) that the reality was just 19,000 new jobs.
Another measure of "the strongest global economy" is perhaps in market gains? Here's the stats over a 5 year period (adjusted for inflation) of a few G7 countries:
UK +64%
Canada +60%
Germany +30%
Japan +39%
USA +18%
Basically the "strongest global economy" barely gained 3.5%/year over the last five years, net of inflation.
BTW - there is a meaningful figure in this for any US person who invested in eg the Canadian market - they would have had a total gain of 120% over the last five years when denominated in US dollars.
Possibly another measure of the "strongest global economy" is in currency valuation? But na... that's weak.
Possibly another measure of the "strongest global economy" is in a balanced budget and controllable debt? But na... that's the highest pro rata debt ratio on the planet.
Possibly another measure of the "strongest global economy" is in a healthy trading surplus? But na... never had a positive trading balance for almost 40 years.
It's hard to deny that the U.S. economy is thriving - it's just that nobody can find any evidence - must be a classifed document only available to the Administration
Damn - that idiot is embarassing...