How can that be? The dollar is worthless, and we are sending all our money to the Saudis.
Posted on 08/28/2008 5:38:24 AM PDT by NYC Republican
NEW YORK (CNNMoney.com) -- A revised reading on gross domestic product announced Thursday showed much better U.S. economic growth than previously reported for the second quarter.
GDP, the broadest measure of the nation's economic activity, stood at an annual rate of 3.3% in the quarter, adjusted for inflation, the Commerce Department said.
The revised results far surpassed the initial advanced estimate of 1.9% released late last month, which disappointed economists.
(Excerpt) Read more at money.cnn.com ...
You know, the DNCNN recession the Dems need to win the election. Unlike the real recession we were in at the end of the clinton regime and NOT reported.
Pray for W and Our Freedom Fighters
Well, there is a housing recession, but that is just a correction from the stupid prices that prevailed.
Yeah, the recession stories have been way overblown. At the bottom of the story, there are 2 links to articles that attempt to explain away the growth. Typical CNN.
Sad thing is, the left is so brainwashed, Obama and company will still talk down the economy in the face of improvement and they’ll buy it hook, line and sinker.
A recession is defined as two (2) consecutive quarters of negative econominc growth. My advice to the “economists...either change the definition of a recession or STFU!
WOW... that is excellent news.
It seems that the main qualification of an “expert” economist is to be surprised all the time.
This is JUST raw data, folks. It will take a few weeks for the MSM to massage this data into the WORST depression ever.
bttt
Going shopping, driving, and eating out...show no signs of recession. The roads are packed even with $3.80 gas, the stores are packed, and you have to wait in line to eat.
Help Wanted and Now Hiring signs are everywhere.
The counter-balance is that there are also a lot of home and business For Sale signs everywhere, so all is not roses...but whatever the news media is hyping has distorted the real picture instead of showing our world as it is today.
The truth is probably closer to Bernanke nailing a soft-landing, rather than a recession. Still, it wouldn’t hurt my feelings if he injected just a wee bit more liquidity; better to err on that side than the other.
But why is it that you only hear “soft landing” from me instead of from the news media?!
Well the more they make people think there is a bad economy the more there will become one.
The great depression started that way.
Worst economy since the Carter Administration!!
dead cat bounce </sarc>
Economics has a trivia quiz with 400 questions....
And a thousand answers.
Poverty at 12.5 %
The number of uninsured has dropped by 2 million.
GDP growth at 3.3%
The media constructed world of misery is imploding.
bookmark
Just gotta love that GDP as a measure of economic strength! The more cheap plastic junk you import, the stronger your economy...wooo-hoooo!
That's basically how my wife and I judge how things are going. We haven't noticed much slacking if any in the crowds at shopping malls and restaurants. We attended the Milwaukee Irish Fest last week, and it had one of the largest crowds I've ever seen having attended every one since 1981. And the unemployment rate in our area (western Wisconsin) dropped from near five percent to a little over four. But Dems aren't the only liars about the economy. I think McCain better drop that "economy is in shambles" line that he's using in his ads.
“I told everyone that listens... Talks of recession was the other side talking down the economy so H gets elected. This proves it! “
I wonder if Pelosi will reconvene the House to pass an emergency measure to torpedo the “recovery”. ;)
What RECESSION?? I am refusing to participate in a RECESSION!!
(1) Housing prices in many areas still need to drop until they are in line with the fundamentals of income and rents.
(2) Banks and investment houses that have bought questionable mortgage paper need to come clean, write off the bad stuff, and solve their problems without a government bailout.
I hope that the fair-to-good trend reflected in the cited economic report will work against any ill-advised attempts to keep (1) and (2) from happening.
WGIDS.
My wife and I do the same exact thing. We look around see the flow of commerce then I go into my Bush impression with this line:
“The American people have to make a choice, food or shopping.The American people have spoken...they’ve chosen shopping.”
The GDP numbers have always showed economic growth during this faux recession. 3.3% GDP growth is solid.
I believe that Gross Domestic Product excludes imports, but includes exports. You know a better measure?
(1) Housing prices in many areas still need to drop until they are in line with the fundamentals of income and rents.You're right on the money! (No pun intended.)
(2) Banks and investment houses that have bought questionable mortgage paper need to come clean, write off the bad stuff, and solve their problems without a government bailout.
I hope that the fair-to-good trend reflected in the cited economic report will work against any ill-advised attempts to keep (1) and (2) from happening.
If those things don't happen, then we'll just be maintaining a facade while the structure rots away.
But does that mean we are really getting any richer in the process, or just that we're spending more and expending more effort?
It's the latter, which is one of the many reasons why DC LOVES using GDP--it's a leftist concept that helps hide spending, and yet here at FR, people love to crow about it. It boggles my mind.
Do you have a job? What bills do you pay?
Please enumerate the ways a recession may or may not affect you.
i’m gonna slap a bumper sticker on my car that says “NOT MY RECESSION”
Yes, I do have 2 jobs. I do have a e business/mail order business, and I fix antique boats and snowmobiles. I do pay the bill I incurred with my business. Matter of fact, my friend and I might merge our businesses.
As I said before, I will REFUSE to participate in a RECESSION!
i’m gonna slap a bumper sticker on my car that says “NOT MY RECESSION”
I am REFUSING to participate in the “recession”!! The US government can’t force me to participate in something I don’t want!!
Proves you cannot "talk" down the economy.
In my example, the import would be the 25 cents. That same object then looks like productivity on the GDP, though, whenever we ship it around, etc.
So the imports look low (because only the cheap plastic import value is counted), but the consumer and government spending are high...does that sound like prosperity?
Every OSHA regulation, every EPA regulation, every pork-barrel project raises the GDP....WOO-HOO!!! We’re RICH!
I do have a e business/mail order business
AN e-business. I guess they skipped that in homeschool.
I do pay the bill
Just one? One bill? Hmmm...
Matter of fact, my friend and I might merge our businesses.
Is this friend a genius-teen, too?
the economy moves forward
and the democrats act as if we’re in a depression!
But exuberance on the economy is exactly what we need.
There is no recession, but the Dark Side is doing its best to create one. Wall Street and the staff of many banks were seduced by the Utopian wet dreams of the Clinton administration. Instead of " a lobster in every pot" the Utopian cry was " A house for every Family." Of course the aspiration is noble. But the means of accomplishment are Utopian and disasterously flawed.It was actually a pyramid credit selling scheme, doomed to failure.
The Liberal Utopians harnessed the American family's desire to have its own home, to the point where we could not pay for it.And speculators created a false real estate boom and made short term profit off our lower economy, and their greed traduced our banking system. It was a lesson also learned by Japan's banking system in the 1980s and 1990s, but with a different nuance.
George Bush did not have the heart to foil that Utopian dream in 2000 when he should have. This may be the first time in America that its people of lower economy have failed the nation.And the banking system failed them. Now we must pay for that wet dream by washing out our bankers underwear, hanging it to dry and putting it on them again.They barely even know what happened. Maybe next time we will try a more gradual approach, and not be driven by the desperation of the liberal Utopia, now again being sold to us in this election cycle.
And to do that we need your exuberance and that of millions more like you.
Buy stock if you can or buy a large tract of cheap land, an abandoned gravel pit,or a cut over section of forest land for later resale or developement. Bargains abound, and we will not see such low prices again for many years.
Cheers!
The dollar is very strong on international markets.And yes we do send a lot of money to Saudi. But what do they do with it?
They invest in American Stock and US BAnks. It comes right back into the system.
So your gloom and doom is not true.Although I really do like your A$$ Wipe. If you put Barak Obamas picture on that dollar bill instead of George Washington's picture, you could make a fortune selling it.
guess I should have added -sarc- tag... at the Dem’s convention, money going to the Saudis because of our dependence on foreign oil seemed to be a reoccurring theme. Of course, they are the ones mostly responsible for it.
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