Fed states that economy is on the brink of rebounding(Deep Democrat Depression Alert)

AP ^ | 11 June 2003 | Trueblackman

[Trueblackman]

They are losing the arguement that Bush does not know how to handle the economy.

[mikenola]

Dow closed today at its highest point since July 8, 2002.

[Bubba_Leroy]

Official DemocRATic reaction to the upturn in the economy:

[Southack]

Figure in lower interest rates after June 26th, plus higher paychecks due to the tax cuts kicking in (July), and the local gloomsters on FR should start up some serious whining...

[Pharmboy]

Thanks for posting. The arrows are starting to all go in the right direction.

[Doctor Stochastic]

That's good. Perhaps the light at the end of the tunnel will shine on the prosperity around the corner to illumine the chicken in every pot.

[KarlInOhio]

Saddened. Deeply saddened.

[Dog]

Its all ready started ....don't you know he is destroying Israel....with the Roadmap.

[Ff--150]

bttt

[expat_panama]

the local gloomsters on FR should start up some serious whining

Maybe, but gloomsters are hard to crack.  For example, the article said the "jobless rate hit a nine-year high of 6.1 percent in May", but we'll never here the gloomsters accept that this is the same as saying the "jobless rate may have peaked to 6.1 percent but is still way below that of the Clinton boom -- even if we use the new Clinton 'include everyone' unemployment criteria instituted as he left office."

 

[Nexus]

even if we use the new Clinton 'include everyone' unemployment criteria instituted as he left office

I did not know this. More info?

[Recovering_Democrat]

In a related story, Tom Dash-HOLE shared his sadness with the sycophant reporters who follow him around.

[expat_panama]

 the new Clinton 'include everyone' unemployment criteria instituted as he left office

I did not know this. More info?

The new method was drawn up by the Clinton administration to be put into effect July 1, 2001.  The link is http://www.bls.gov/cps/cps_htgm.htm.  To be honest, the new method does not literally 'include everyone'  but it does skew the numbers, and is similar to other scorched earth tactics such as radically tightening water quality standards etc.. 

 

[Pharmboy]

Glad to see you're with the program, doc (snicker)

[stratman1969]

No wonder the Rats are harping on the "where's the weapons of mass destruction" line over and over. They counted on a down economy as a campaign issue, now they can kiss it bye bye!

[b4its2late]

They are losing the arguement that Bush does not know how to handle the economy.

IMHO, when it really starts to turn, it will be just in time for the election......

[ThePythonicCow]

may be on the verge of a rebound

Bush will do ok in '04, but we're letting our Bush Boosterism get in the way of facing reality. I'm certain that Bush, his advisors, Greenspan and the Fed, 80% of the financial advisors and commentators in the market, and all the Pollyanas posting above are wrong.

We're a long way from bottom. The heroin of easy money from the Fed and the monetarists has done grievous harm to the real wealth of this nation, and most nations in the world.

To his credit, Milton Friedman has denounced the monetarism for which he is credited. Over the next decade, many more people will come to appreciate this unusual insight.

[meenie]

Both sides should lose the argument. I cannot understand any knowledgeable person who believes the government has anything to do with the economy other than being a drag on it because of the taxes they confiscate.

[Arpege92]

Two, four, six, eight....the DEMONcrats are second rate!

[P.O.E.]

Between the gloomsters and the goldbugs, I expect no less. I think the latest party line is that it is a "jobless" recovery.

In other words, always a "Yes, but...."