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How do we know the economy is getting better?

Easy by google!

http://www.politico.com/news/stories/0709/25083.html

Of all the statistics pouring into the White House every day, top economic adviser Larry Summers highlighted one Friday to make his case that the economic free-fall has ended.


The number of people searching for the term “economic depression” on Google is down to normal levels, Summers said.


Searches for the term were up four-fold when the recession deepened in the earlier part of the year, and the recent shift goes to show consumer confidence is higher, Summers told the Peterson Institute for International Economics


LOL........yeah lets not look at those pesky unemployment numbers......or Housing starts.......or that darn stock market....or the still not even close to fixed banking crisis.
 

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Summers is an *******, but he's not an idiot. I find it hard to believe that he would seriously argue that this is a meaningful indicator, except as one of a zillion measures of confidence. I would like to see the complete remarks to Peterson to see what he actually meant.
 

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I thought that just meant all the uneducated folks finally figured out what it means.:rolleyes:
 

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I think this is one of those things that a policy wonk would say in the comfort of his fellow policy wonks, but a politician would know not to say in front of a camera. I think it makes some sense. A big part of the economy is consumers, and a big indicator of their willingness to spend is consumer confidence. So if fewer people are looking up information on "economic depression" it probably means people are beginning to feel a little bit better, or at least don't think the economy is in free-fall.

I think it actually makes some sense, though not something I'd say to a camera when millions of people are out of work and most economists still think any semblance of a recovery won't begin until 2010.
 

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I think this is one of those things that a policy wonk would say in the comfort of his fellow policy wonks, but a politician would know not to say in front of a camera. I think it makes some sense. A big part of the economy is consumers, and a big indicator of their willingness to spend is consumer confidence. So if fewer people are looking up information on "economic depression" it probably means people are beginning to feel a little bit better, or at least don't think the economy is in free-fall.

I think it actually makes some sense, though not something I'd say to a camera when millions of people are out of work and most economists still think any semblance of a recovery won't begin until 2010.
That's what I meant about "confidence." But it would have to be one of many, many measures to mean anything.
 

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That's what I meant about "confidence." But it would have to be one of many, many measures to mean anything.
Very true, but I agree with what you said...the guy may be an ass, but even Republicans agree he knows economics. Economists on the left, right, and middle are all (except Roubini) saying we've taken a step back from the brink of economic collapse and things look to be stabilizing. I took Summers' quote as saying this is just one little additional piece of evidence that we're not still heading towards a recession. It's not conclusive, it's not important, but it's just another piece of the puzzle.
 

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I don't know. He has a Ph.D., so that means he's one of them elites, and thus not to be trusted. As Hillary said, "I don't throw my lot in with economists." That's why I take all of my economic advice from Lenny Dykstra.
 

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The number of google hits may be down, but unemployment is lagging indicator. But I am more afraid of the deficit that is expanding very rapidly, and this ridiculous group of legislation (cap and tax, and this disaster of health care they are considering) and how it will affect the long term for our country.
 

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The number of google hits may be down, but unemployment is lagging indicator. But I am more afraid of the deficit that is expanding very rapidly, and this ridiculous group of legislation (cap and tax, and this disaster of health care they are considering) and how it will affect the long term for our country.
As I said, it don't take a genuis to realize after a while most folks will learn what the word means.;)
 

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So you're assuming the only reason one might perform a Google search is to find a definition? Why wouldn't they just go to www.merriam-webster.com?

Note the winky eye, we don't have a tongue in cheek one, folks need to lighten up and laugh a little, will get us through this crap better than panicing and running around like a chicken with their head cut off, which a hell of a lot of them are doing.:rolleyes:
 

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As I said, it don't take a genuis to realize after a while most folks will learn what the word means.;)
Ya think? lol.

Funny thing is, it's all these smart geniuses who got too big for their britches and put all these so called loans and junk investments together, and now look where we are.

My granny had only a 3rd grade education. And she was one of the wisest people I ever knew.

I am all for getting a good education, but being educated also means having common sense and integrity. Both of which seem to be grossly lacking for many, especially in the government.
 

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Well said Guy, education can be wonderful, if you have enough smarts for it to do any good. Don't always work that way.

If one really wants to get a good education sometime, stuff you won't learn elsewhere, buy a cup of coffee for an retired, sucessful farmer or rancher and have enough sense to shut up and listen, may not have an piece of paper that says he's been educated beyond maybe the 8th grade, but there is a lot of learning under that hat.;)

Those guys have enough sense to pour piss out of a boot with out having to have the instructions written on the sole. Something I don't always, see in some of the highly educated folks I meet.

You met any of them old guys like I'm talking about down there yet Guy? If so it's worth the price of the coffee ain't it.;)
 

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Well said Guy, education can be wonderful, if you have enough smarts for it to do any good. Don't always work that way.

If one really wants to get a good education sometime, stuff you won't learn elsewhere, buy a cup of coffee for an retired, sucessful farmer or rancher and have enough sense to shut up and listen, may not have an piece of paper that says he's been educated beyond maybe the 8th grade, but there is a lot of learning under that hat.;)

Those guys have enough sense to pour piss out of a boot with out having to have the instructions written on the sole. Something I don't always, see in some of the highly educated folks I meet.

You met any of them old guys like I'm talking about down there yet Guy? If so it's worth the price of the coffee ain't it.;)
Met several folks like that here...and knew many of them back in Memphis. It is people like that who built the country, and IMHO, should be running it. They have experience in making a living, raising kids, and taking responsibility for themselves. Running a business...lots of practical stuff. My mom made sure I got some good formal education, but much of my education was from the school of hard knocks. AN ivory tower type I am not! lol.
 

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I'm lucky, in my job I meet that type pretty much every day, a lot come to my dept to sit and wait for family because they like it in my area.
 
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