Posted on 07/30/2005 2:10:59 AM PDT by JohnHuang2
Growth clocked in at a solid 3.4 percent in the spring quarter, a sign that record-high energy prices did little to impair the economy, the Commerce Department reported yesterday. Record spending on housing, steady spending by consumers and businesses and a big drop in the trade deficit all contributed to the pace of expansion, which was somewhat slower than the first quarter's 3.8 percent annual rate. But while sales of autos were strong, they served primarily to empty full lots at dealerships, contributing to a massive drawdown in inventories that subtracted substantially from growth during the quarter, the department said. Without the liquidation of inventory, growth would have been close to 6 percent. With less inventory to sell off this quarter, some economists say growth could hit an unexpectedly robust 5 percent. "The economy's resilience has come as a surprise even to optimists like me," said Richard Berner, chief U.S. economist at Morgan Stanley.
(Excerpt) Read more at washtimes.com ...
Driveby GOOD NEWS Mega ping!
Seriesly, the economy just keeps rolling and rolling and rolling....
IT'S ALL BUSH'S FAULT!
Oh, wait. This is good news. Never mind.
Nothing to see here.
Move along.
Want some more good news? and a good laugh?? Get a load of this:
http://www.lasvegassun.com/sunbin/stories/nat-gen/2005/jul/29/072907254.html
BEST Headline!!
July 29, 2005
"U.S. Alleges Voting Boas in Boston
By KEN MAGUIRE
ASSOCIATED PRESS "
Well, they're snakes, so you know they're voting for the 'Rats. Course, you know what snakes do to rats.
More bad news for Democrats, the economy grew 3.4 percent in the summer quarter.
Democrats thrive on depressions, recessions, wars and economic upsets.
Democrats are in a bad way. They have lost too many elections, voters are leaving in droves, money comes only from foreign sources and a few socialist fat cats, one of their major supporters and donors, the AFL/CIO, is falling apart, and Democrats have exhausted their slim supply of candidates with a reasonable chance to win high office.
The socialist economic theories on which Democrats base their agenda has failed everywhere in the world.
Liberal Democrats then, not terrorists, represent the greatest danger to America.
You, R.W., have posited a GREAT TRUTH!!!
Record spending on housing, steady spending by consumers and businesses and a big drop in the trade deficit all contributed to the pace of expansion, which was somewhat slower than the first quarter's 3.8 percent annual rate.
I don't consider these a sign of a healthy economy mainly because the first two are artificial and debt-driven and can't last much longer.
Terrific!!! A good economy is good for everyone except rats. There will be much grieving in liberal land.
bttt
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.