"Hey Vin, ya see dat?...I guess the creditability thing will come when the coyotes are chewing on their bones"
Doogle
Posted on 10/27/2006 12:06:07 PM PDT by Mikey_1962
NEW YORK (CNNMoney.com) -- Economic growth slowed to the weakest pace in more than three years in the third quarter, as the government's main gauge of the strength of the U.S. economy came in much lower than analysts had forecast.
Gross domestic product (GDP), the broadest measure of the nation's economy, grew at a 1.6 percent annual rate in the quarter, the Commerce Department said, down from the 2.6 percent rate in the second quarter. Moreover, the slower growth, and a price reading in the report that showed less inflation pressures than expected, raised hopes that the Federal Reserve could start to cut interest rates early next year, as the central bank tries to find the balance between economic growth and price stability.
Weaker growth in the quarter was attributable in part to a rising trade gap, which subtracts from GDP, as well as a slump in the nation's housing market. Consumer spending also came in a bit weaker than expected.
The news was not well timed for the Bush administration as Republicans try to hold onto Congress as polls show the Democrats poised to make gains.
While the war in Iraq has held much of the focus of the election debate, and other key parts of the economy, notably the stock market and employment, are still relatively strong, the Democrats were quick to seize on the GDP report as a further sign of problems in administration policy.
"Once again, the Bush economy is going in the wrong direction," said a statement from Rep. Carolyn Maloney, D-N.Y., the senior House Democrat on the Joint Economic Committee. "An economic recovery that never benefited working Americans in the first place now has slowed to a crawl."
(Excerpt) Read more at money.cnn.com ...
But CNN says its the weakest economy in three years
How extremely odd for this sort of story to be in news right now.
To Hell with CNN. We know what side they're on.
Well, it beats their lying that it's the worst economy since Herbert Hoover. Apparently forgetting the Carter years with double digit unemployment, gas lines, and 21% interest rates.
CNN's irrational apathy is most unprofessional. I cannot believe they included that partisan quote a "news" story about the economy -- as if that has anything whatsoever to do with GDP.
I think 13 of the last 17 sessions have been record highs for the DOW. Is this 70+ drop in the DOW today the soft landing? If so, I'll take it .
With a Republican in office, when the GDP numbers are rosy, the GDP "is a bad barometer of the health of the economy."
The the GDP aren't so rosy, "the economy is weak."
With a Republican in office, when the GDP numbers are rosy, the GDP "is a bad barometer of the health of the economy."
The the GDP aren't so rosy, "the economy is weak."
"Hey Vin, ya see dat?...I guess the creditability thing will come when the coyotes are chewing on their bones"
Doogle
When is the US military going to realize that they should be aiming missles at CNN's headquarters in Atlanta?
If this economy is going to stall, (according to CNN/DNC talking points), then, if Democrats win, it will be shifted into reverse....
New House Prices fell to 2004 prices and the MSM was talking "Crash".
If the Democrats win, they will raise our taxes because Bush ruined the economy and we will just have to suffer for Bush's terrible administration.
Whenever the Democrats win anything, we will all have to be punished for the evil Bush administration, even if it doesn't happen for a decade.
Hillary told us:"We will take things away from you for the common good."
Ah yes, another example of what passes for financial and economic reporting from the Democrat Media (CNN, et al.); one or two short paragraphs of numbers with little explanation followed by several paragraphs of talking points straight from DNC press releases. I would have been a pauper if I heeded the policies and predictions of the Democrat Media. Ignore the Democrat Media and prosper.
Isn't this exactly what the Fed action is supposed to do? Slow down a heated economy so that inflation is under control?
It's mostly the slowing of the housing market and construction growth. If the economy actually stopped growing it would die.
It will be revised upward weeks after the election.
Well, it's no doubt that the looney left all are convinced that they will get other people to pay their way if Democrats control, as this is class warfare in its finest form....you don't have to succeed, you just have to vote Democrat and they will get you whatever you want.....what a great country!
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