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Thread: U.S. economy bounces back sharply

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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Montecresto View Post
    True, and all administrations tend to ignore the negative and exaggerate the positive.
    Yes, however sometimes it gets so ridiculous that it borderlines on insulting people intelligence (at least those who have one)...

    I mean I have read in the Chicago Tribune no less, where they report mass quantities of jobs moving overseas and then a few stories down they say "report - economy growing."

    It's almost like Orwells 1984.

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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Mr.Nick View Post
    Yes, however sometimes it gets so ridiculous that it borderlines on insulting people intelligence (at least those who have one)...

    I mean I have read in the Chicago Tribune no less, where they report mass quantities of jobs moving overseas and then a few stories down they say "report - economy growing."

    It's almost like Orwells 1984.
    Orwell's 1984 is here in many demonstrable ways.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: US GDP Grows 4% in Q2, Beating Expectations

    Quote Originally Posted by Glen Contrarian View Post
    Except for that fact that America - like all the rest of the first-world democracies - has a very healthy dose of socialism at work in the economy. If you want to see real capitalism at work, go to China - or go to most third-world nations where the golden rule is the only rule that really matters.

    This isn't to say that pure socialism is good - it's not. What is best, as evinced by ALL the first-world democracies on the planet, is an economy that is balanced between capitalism and socialism, neither too much nor too little of either one.
    If you think the USA is more "socialistic" than China, you must have a unique definition of the term.
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    Re: US GDP Grows 4% in Q2, Beating Expectations

    Btw, even if this number is not revised downwards (which I think is a near-certainty that it will be revised downwards); it still looks pretty poor for the economy.

    If the bad Q1 number was weather related, then the assumption must be that Q2 was when people came out of hiding and spent what they did not in Q1.

    So if you combine the two numbers (-2.1 and +4.0), you are left with a 1/2 year total of 1.9% (on a yearly basis).

    Despite massive government spending and Fed QE's/'artificially' low interest rates...1.9% annual GDP growth is all that can be mustered?

    That sucks in my book.

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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Mr.Nick View Post
    The significant problem with our economy is that a) not all economic indicators are looked at (only the positive ones)
    A variety of economic indicators get reported on a regular basis. You won't see it on the 30 minute nightly news or the front page of the Cleveland Plain Dealer because most people don't care. In addition, most articles about the latest GDP figures do mention issues like flat wages or weakness in housing this quarter.


    b) it appears the economy has been fluctuating like a "wave" if you will - it goes up, then down, then up, then down....
    GDP has fluctuated a bit, but it is not "the economy" (despite a slightly misleading thread title). It is merely one measure, and a fairly broad one. For example, higher imports will reduce GDP, but are often a good sign as it indicates an increase in consumer spending. A drop in exports will reduce GDP, but exports will depend heavily on factors like the health of foreign purchasers, the relative value of the dollar, and so forth.

    In addition, it does seem pretty clear that the Q1 dip was mostly due to one-time factors, such as an awful winter and a drop in exports.


    Any economist would call that highly unstable even when other factors of the economic formula are completely ignored.
    And yet, they don't. I wonder why? Probably because GDP growth rates have varied in that way for decades.



    The recovery is a bit weak, and most economists do recognize this. But most of the variations we've seen in the past year or two are typical.

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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Montecresto View Post
    True, and all administrations tend to ignore the negative and exaggerate the positive.
    It's 40% of the administrations and 60% the MSM whomever they may be in the tank for...

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    Re: US GDP Grows 4% in Q2, Beating Expectations

    Quote Originally Posted by DA60 View Post
    Btw, even if this number is not revised downwards (which I think is a near-certainty that it will be revised downwards); it still looks pretty poor for the economy.

    If the bad Q1 number was weather related, then the assumption must be that Q2 was when people came out of hiding and spent what they did not in Q1.

    So if you combine the two numbers (-2.1 and +4.0), you are left with a 1/2 year total of 1.9% (on a yearly basis).

    Despite massive government spending and Fed QE's/'artificially' low interest rates...1.9% annual GDP growth is all that can be mustered?

    That sucks in my book.

    I got it wrong (bad math)...it's not +1.9% GDP yearly growth for 2014 so far.

    It's +0.95% GDP yearly growth for 2014 so far.

    Yikes.

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    Re: US GDP Grows 4% in Q2, Beating Expectations

    Quote Originally Posted by DA60 View Post
    I got it wrong (bad math)...it's not +1.9% GDP yearly growth for 2014 so far.

    It's +0.95% GDP yearly growth for 2014 so far.

    Yikes.
    Well, you got the "sucks" part right. 5 years and counting, thanks libs. Your boy is doing a fantastic job.
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    Re: US GDP Grows 4% in Q2, Beating Expectations

    Quote Originally Posted by Dittohead not! View Post
    If you think the USA is more "socialistic" than China, you must have a unique definition of the term.
    Instead of just blowing off the claim, how about checking to see if that's really the case? Noted conservative Dinesh D'Souza says in this article on the popular conservative blog Daily Caller that China is more capitalist than America.

    From the conservative financial magazine Forbes': "China Builds World's Largest Temple To Capitalist Materialism".

    From Time Magazine: "Why China Does Capitalism Better Than The U.S."

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    Re: US GDP Grows 4% in Q2, Beating Expectations

    Quote Originally Posted by DA60 View Post
    Btw, even if this number is not revised downwards (which I think is a near-certainty that it will be revised downwards); it still looks pretty poor for the economy.

    If the bad Q1 number was weather related, then the assumption must be that Q2 was when people came out of hiding and spent what they did not in Q1.

    So if you combine the two numbers (-2.1 and +4.0), you are left with a 1/2 year total of 1.9% (on a yearly basis).

    Despite massive government spending and Fed QE's/'artificially' low interest rates...1.9% annual GDP growth is all that can be mustered?

    That sucks in my book.
    Considering the historical average is 3% that's not bad...
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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