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.
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