Economy Grew 3.3% in 2nd Quarter (The Recession That Never Was)

The Wall Street Journal ^ | August 28, 2008 | JEFF BATER and BRIAN BLACKSTONE

[abb]

The U.S. economy was much stronger in the spring than first thought because of better exports and less inventory liquidation by businesses, according to a government report that surprised economists.

Gross domestic product rose at a seasonally adjusted 3.3% annual rate April through June, the Commerce Department said Thursday in a new, revised estimate of second-quarter GDP.

Originally, the government had estimated second-quarter 2008 GDP climbed 1.9%. First-quarter GDP increased 0.9%.

snip

[abb]

Let's try again.

[afortiori]

This should let the air out of Obama’s attack on McCain for saying the economy is “fundamentally strong.”

[abb]

http://news.briefing.com/GeneralContent/Investor/Active/ArticlePopup/ArticlePopup.aspx?ArticleId=NS20080828085447PageOne
GDP Data Defies Recession Talk

http://blogs.usatoday.com/ondeadline/2008/08/economy-grew-mo.html
Economy grew more than expected during second quarter

http://ap.google.com/article/ALeqM5gHs5OM3gFG_DytQQZFbWfgPT08MAD92R9SS00
Stock futures rise after GDP data beats forecasts

[mad_as_he$$]

Ok so businesses selling off inventory at a discount is good for the economy? Please. Furniture stores are going out of business here faster than the cable can run the ads.

[abb]

The first thread was pulled. The mod said marketwatch.com was not allowed. That’s a new one, isn’t it?

[Arkansas Toothpick]

Yet this morning on the local news, the little blonde talking head was bemoaning the “weakening national economy”. Factuality is no longer important to our news media.

[major_gaff]

some one should tell the savior....

[JaguarXKE]

Nothing to see here. Move along!

[manc]

Listening to the Dims last night you would think we are in a depression worse than the 20’s

You’d think everyone has lost their house, people live now rough on the streets, no jobs what so ever and we have no allies any more

So much for this change, all I have seen is the same old politics, demean, lie and exaggerate

Look at Obama, He goes on about McCain saying 5 million, it was way took out of context and then the house thing which is pathetic, they want to demean a man and women who have done for themselves.

Seem to me they still want to separate people into groups and classes so they can have war between the groups

Bring people together my arse

[woofie]

Its been the worst 30 years in the wilderness ever

[abb]

http://www.ft.com/cms/s/0/cbfa82b0-74fd-11dd-ab30-0000779fd18c.html
GDP figures lift mood on Wall Street

[Impy]

The economy is hurting, where I am at least. Thanks to the democraps who rule here.

[1035rep]

bttt

[Question Liberal Authority]

So it was just a mental recession?

I sure wish someone had said that while it was going on. It would have reassured the American people and allayed a lot of doubts and fears.

[Question Liberal Authority]

Economy Grew 3.3% in 2nd Quarter, Much Higher Than Initial Reading

Yes, but Obama can CHANGE that.

[abb]

It was a deliberate attempt to tube the economy. Standard operating procedure for the Drive-By Media and their political wing, the Democrats.

[Diana in Wisconsin]

I was wondering why my purse was feeling a lot heavier as of late. :)

No signs of recession where I live; building cranes all over the place building things, no businesses closing up save the bars and taverns that the Smoke Natzies got to with their targeted smoking bans.

A few big businesses moved to other cities, but that’s due to the ‘Rats in charge of ‘The People’s Republik of Madistan’ taxing them to death.

Husband’s small business is doing well and I’m paid well for what I do for a living; we both have all the work that we can possibly handle at the present, even in this “sloooooow economy.” My kids are all gainfully employed while attending college. Go figure!

So, we’re doing just fine, thanks! :)

[Holicheese]

"This should let the air out of Obama’s attack on McCain for saying the economy is “fundamentally strong.”" Nope. We are in the middle of a depression! Just ask Joe Biden. According to him, we are all making grass soup because unemployment is at 66%! Look at the loosers that they have trotted out, Dukakis, Carter, Kerry... Man, what a pile of warm puke.

[Holicheese]

Do you remember in the 2000 election, that is what they said Bush was doing. He was trying to talk down the economy by saying we were in a recesion. I can tell you my 401K was devastated in 2000. The Clinton Dot Bomb economy! I still want to punch Dr. Koop in the mouth!

[tobyhill]

wow!