How can that be? The dollar is worthless, and we are sending all our money to the Saudis.
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 ...
But exuberance on the economy is exactly what we need.
There is no recession, but the Dark Side is doing its best to create one. Wall Street and the staff of many banks were seduced by the Utopian wet dreams of the Clinton administration. Instead of " a lobster in every pot" the Utopian cry was " A house for every Family." Of course the aspiration is noble. But the means of accomplishment are Utopian and disasterously flawed.It was actually a pyramid credit selling scheme, doomed to failure.
The Liberal Utopians harnessed the American family's desire to have its own home, to the point where we could not pay for it.And speculators created a false real estate boom and made short term profit off our lower economy, and their greed traduced our banking system. It was a lesson also learned by Japan's banking system in the 1980s and 1990s, but with a different nuance.
George Bush did not have the heart to foil that Utopian dream in 2000 when he should have. This may be the first time in America that its people of lower economy have failed the nation.And the banking system failed them. Now we must pay for that wet dream by washing out our bankers underwear, hanging it to dry and putting it on them again.They barely even know what happened. Maybe next time we will try a more gradual approach, and not be driven by the desperation of the liberal Utopia, now again being sold to us in this election cycle.
And to do that we need your exuberance and that of millions more like you.
Buy stock if you can or buy a large tract of cheap land, an abandoned gravel pit,or a cut over section of forest land for later resale or developement. Bargains abound, and we will not see such low prices again for many years.
Cheers!
The dollar is very strong on international markets.And yes we do send a lot of money to Saudi. But what do they do with it?
They invest in American Stock and US BAnks. It comes right back into the system.
So your gloom and doom is not true.Although I really do like your A$$ Wipe. If you put Barak Obamas picture on that dollar bill instead of George Washington's picture, you could make a fortune selling it.
guess I should have added -sarc- tag... at the Dem’s convention, money going to the Saudis because of our dependence on foreign oil seemed to be a reoccurring theme. Of course, they are the ones mostly responsible for it.
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