U.S. Economy Grew at a 4.4% Rate in First Quarter

Bloomberg ^ | May 27, 2004 | Carlos Torres

[RWR8189]

May 27 (Bloomberg) -- The U.S. economy grew at a 4.4 percent annual pace from January through March, faster than estimated last month, as businesses replenished inventories, government spending rose and home construction accelerated. Corporate profits over the last year increased by the most in two decades.

[txrangerette]

Good news!

[fsorbello]

This is all Bush's fault.

[The G Man]

[Constitution Day]

[fsorbello]

Can someone please explain to me how "a majority of Americans" still feel Bush's handling of the economy is sub-par?

I mean, the economy is freakin' booming...companies are hiring, they're spending, wages are going up...hell, I just got a promotion!

What is up with this perception? Dare I blame the media?

[Semper Paratus]

Herbert Hoover PING.

[eureka!]

"What is up with this perception? Dare I blame the media?"

LOL. They still got some power over a lot of sheeple's perceptions, that's for sure...

[Flightdeck]

My cousin who is a legislative aid in Congress told me the other day that the economy is tanking and this "jobless recovery" will soon spiral downward. So the point is, they will lie to themselves, believe what they want to believe, and ignore facts on this issue just like they ignore the facts on every damn issue there is.

[The G Man]

Dare! Dare!

They'll report this news with a "but" ... "... but concerns over job growth continue", "... but some skeptics point to blah, blah, blah", etc. You get the picture.

The end result is that the great unwashed aren't real sure how the economy is doing.

[Flightdeck]

Yeah, my wife just got hired by a big company because they got too busy, and needed to create a job. In post 9, I mentioned the idiocy that we are up against.

[babaloo]

I cannot help but think that people are looking at gas and milk prices and equating that with economic problems.

[Nataku X]

Two words: gas prices.

[Guvmint_Cheese]

Only 4.4%??? Under my administration, with my proposed tax hikes on the wealthy (except for my wife), GDP will go up 50% each quarter! We MUST have a regime change!!!

[Mr. Jeeves]

Two words: gas prices.

And health care prices. Housing prices. Food prices.

Inflation is back, but government statisticians have gotten very good at not measuring things they don't want to measure. The Fed has to allow inflation - it's the only way to deal with the debt load.

[GailA]

hanoi john and tommy dashole are saddened

[GailA]

PRESSITUTES SPIN

[ex-Texan]

The economy is improving at a very fast clip. Overall, at this rate a 12% - 15% annual growth rate is possible BUT Greenspan will cool the jets with interest rate increases. Economic news is looking good so far.

HOWEVER: If there are really coordinated terror attacks on major population centers (NY, DC, SF, LA) this summer -- expect the stock market to nose dive immediately. If airliners are hyjacked again or small planes are used, expect airline stocks to tumble recklessly. If large discount chain stores are attacked, expect that section of the economy to go down the tubes. Anything is possible. We live in the most dangerous of times.

[oblomov]

I wonder if there's a link between your values and your recent promotion? Hmmmmm....

Congratulations!

[KC_Conspirator]

Can someone please explain to me how "a majority of Americans" still feel Bush's handling of the economy is sub-par?

Because Bush has done an awful job campaigning. The media and the democrats are not going to tell America, so Bush needs to go directly to the people like Reagan did. However, Bush is running like he does not want to get re-elected. How else does one explain that 56% of Americans think we are still in a recession?