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Thread: Economy expanded at fastest pace in a year as summer waned

  1. #71
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    Re: Economy expanded at fastest pace in a year as summer waned

    Quote Originally Posted by j-mac View Post
    At least freefall has a bottom, where rebuilding can take place....This putting off the tough medicine is only going to result in more pain...

    Let it bottom, and we can rise for real instead of this fake propaganda being lapped up by the masses.
    I would surmise you are one of the lucky few who would not actually hit the bottom. Perspectives change when discussion about which rug will be pulled out is about the one under YOU.

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    Re: Economy expanded at fastest pace in a year as summer waned

    Quote Originally Posted by ChuckBerry View Post
    I would surmise you are one of the lucky few who would not actually hit the bottom. Perspectives change when discussion about which rug will be pulled out is about the one under YOU.
    See, this is just foolish on several levels....Allow me.

    1. One problem you run into Chuck is that you tend to assume to make your argument fit rather than using common sense. If you had bothered to take even a cursory look at any of my posting to know about me before your attempt to take it personal, I have made no bones about posting that I am a Tractor Trailer driver that contract hauls for a major grocery chains bakery. I am a company driver so from that you can assume that while I do make more than the nations median income, it isn't much more than that. Additionally, my wife whom is a graphic artist, currently unemployed, so things are really tight. So would I hit bottom? hell yes, probably before the rug is even completely out from under me. But I don't think that government is the answer.

    2. Your point is also just a little more than foolish in the sense that you believe that ALL working people, or poor must be democrat, liberal, or socialist in nature. That is a false assumption.

    Care to try again?

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: Economy expanded at fastest pace in a year as summer waned

    Quote Originally Posted by Dickieboy View Post
    Remember what was said 'Commerce Department...estimate'. This will get downgraded in a few weeks when the real numbers are known AND no one is paying attention. The same happened after the first and second quarter this year.

    Further, the news from Europe sounds good but there is nothing concrete about it...yet. We'll see.
    Predictable, and no one noticed...

    Q3 GDP Revised Downward To 1.8%

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    Quote Originally Posted by Dickieboy View Post
    Predictable, and no one noticed...

    Q3 GDP Revised Downward To 1.8%
    The numbers get revised up and down. It's certainly predictable that conservatives will only comment on the down side adjustments.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Economy expanded at fastest pace in a year as summer waned

    The last thing the Republicans want is any kind of economic recovery until after the 2012 General Election.

    Much of the current problem stems from the EU and a new Republican president, like Obama, is not in a position to resolve that situation.

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    Re: Economy expanded at fastest pace in a year as summer waned

    Quote Originally Posted by randel View Post
    Bottom Line - Economy expanded at fastest pace in a year as summer waned



    snip

    U.S. economic growth increased at its fastest in a year in the third quarter as consumers and businesses set aside fears about the recovery and stepped up spending, creating momentum that could carry into the final three months of the year.
    Though part of the increase came from the reversal of temporary factors that had restrained growth, the expansion was a welcome relief for an economy that looked on the brink of recession just weeks ago.

    snip




    U.S. gross domestic product expanded at a 2.5 percent annual rate in the third quarter, the Commerce Department said in its first estimateon Thursday. That was a big acceleration from the 1.3 percent pace in the April-June quarter and matched economists' expectations.
    "The probability of a double-dip has diminished quite a bit," said Sung Won Sohn, an economics professor at California State University in the Channel Islands. He made the comments before the release of the report.
    Wow! The fastest pace in a whole year you say!!

    It's a bit like being the world's tallest midget!
    Last edited by Meathead; 12-25-11 at 06:25 AM.

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    Re: Economy expanded at fastest pace in a year as summer waned

    Quote Originally Posted by AdamT View Post
    The numbers get revised up and down. It's certainly predictable that conservatives will only comment on the down side adjustments.
    Please, post some evidence that the number got revised up with certainty not 'predictions'.

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    Re: Economy expanded at fastest pace in a year as summer waned

    Quote Originally Posted by jgarden47 View Post
    The last thing the Republicans want is any kind of economic recovery until after the 2012 General Election.
    Were the parties reversed do you think the Democrats would think differently?

    Much of the current problem stems from the EU and a new Republican president, like Obama, is not in a position to resolve that situation.
    I agree.

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    Quote Originally Posted by Dickieboy View Post
    Please, post some evidence that the number got revised up with certainty not 'predictions'.
    On my iPhone so that'll have to wait, but. If you follow the economy you should know that it happens all the time. Typically they announce several months of revisions a one time and one or two will be up and one or two down.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Economy expanded at fastest pace in a year as summer waned

    Quote Originally Posted by AdamT View Post
    On my iPhone so that'll have to wait, but. If you follow the economy you should know that it happens all the time. Typically they announce several months of revisions a one time and one or two will be up and one or two down.
    I have been following economic affairs for 40 years so I'll wait. I will stipulate that they DO announce several months various numbers as the OP proves. But I cannot remember a time when they revised it up. There is a strategy to projecting high, tends to promote confidence, then reporting lower numbers once final accounting is performed as most will not notice.

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