GDP is 2.4%, Manufacturing Expands, Joblesss Claims Fall, Stocks Surge on News (Daschle Suicidal)

THE WALL STREET JOURNAL ^ | July 31, 2003 | ONLINE NEWS ROUNDUP

[ChadGore]

Thank you GWB !

[oceanview]

yes, alot of that is true. but I think it is localized to the industry segments where the job losses are occurring. also remember that americans are mostly a selfish people. if you think that a tenured public schoolteacher making $100K (where I live) gives a damn that IT jobs are being sent offshore and alter their own spending habits at all, they do not.

[Wolfstar]

Daschle suicidal

Hehehehehehehe... To bad, Tommy. So sad. Life sure is a bee itch when you're on the losing side of history.

[holdmuhbeer]

Your are exactly right. People who work at Wally world can't buy the same things as IBMers. Even if they could the money spent helps China more than it helps americans.

[bk1000]

'Anytime a large company feels secure in cutting pay for people who have nearly thirty years of service you can bet that they are not worried that people might find a better job and leave. What do they know that so many others don't?'

They know that there are illegal immigrants lining up to
do the job for a third less. They know there are legions of
20-something college grads out there that will work for less. They feel that, being as how times have changed, younger, more up-to-date workers are better than those with years of experience in the old ways. Some of this is true. I work with many 'experienced' people who will do little more than the minimum, and complain about that. Many who have not been directly affected by this maintain a sense of entitlement regarding their jobs. Manufacturers have left our workforce and with good reason. Globalization and union greed are killers. More immigrants arriving every day.

[rwfromkansas]

Granted, but business spending and consumer spending also increased a decent amount.

[rwfromkansas]

Again, you are focusing on one part of the GDP. Business investment and consumer spending also increased decently.

[Jumper]

Great News at a full one percent growth in the US Economy, adjusted after removing government spending! In Europe, they are growing at 0.01% in France and Germany and the European growth in GDP includes goverrnment spending. The world is technically in a recession and the US is actually growing!

If you are keeping tab, Europe (European Union) has 370 million people while the US had 290 million people - and our economy is growing at approximatley (and projected to continue to grow at the same rate of) four percent annually. In actual terms, we will soon exceed the size the entire european economy!

For all those people who are upset that all the jobs are low paying in the US, my advice to them is to be a part of the job creation sector rather than lazy wage earners.

[Nucluside]

I did follow my comment with another that was commensurate with yours. Cheers, AK Nucluside