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Thread: U.S. economy bounces back sharply

  1. #51
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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.
    Neither country is socialist but I think it is fair to say that China is moving away from a socialist system and the U.S. is moving toward one.

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

    Quote Originally Posted by DA60 View Post
    What?

    Last month 523K full jobs were eliminated - while 799K part time jobs were created...for a probable net loss in hours worked.

    Table A-9. Selected employment indicators

    On what planet is less hours worked and over 1/2 a million jobs lost an improvement?
    I find it hypocritical amusing to see someone who is so critical of government data have no problem using the same data when it can be used (weakly) to support their ideology.

  3. #53
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    Re: US GDP Grows 4% in Q2, Beating Expectations

    Quote Originally Posted by fmw View Post
    Neither country is socialist but I think it is fair to say that China is moving away from a socialist system and the U.S. is moving toward one.
    China has definitely moved away from a socialistic economy, and is doing very well with it. Capitalism does seem to be working for them, much better than any of Mao's "great leaps forward" ever did.

    Is the USA really moving toward a socialist economy? That claim is a bit more shaky, it seems to me. Whereas socialism is government ownership of the means of production, the current situation looks a lot more to me like the means of production, i.e., the large corporations, own the government.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by fmw View Post
    Neither country is socialist but I think it is fair to say that China is moving away from a socialist system and the U.S. is moving toward one.
    Just as Leninism greatly differs from Marxism, Maoism should never be confused with what Americans refer to socialism.

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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)...
    Positive and negative economic data is released on a regular basis. The release schedule can be found at: 2014 Economic Calendar

  6. #56
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Fenton View Post
    The Actor Donald Sutherland from " Invasion of the Body Snatchers " fame is a huge Lib.

    Just sayin......

    Because it would take a insurmountable amount of blind allegiance to a left wing ideology to create a thread like this.
    When you can't argue the facts, try and discredit the messenger...
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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

    Quote Originally Posted by Dittohead not! View Post

    Is the USA really moving toward a socialist economy?
    It looks like it to me. When I was young people relied on individual motivation to solve problems and make things happen. These days society seems content to let govenrment handle it. Government handles it very badly but nobody seems to care. It looks like the current direction very clearly to me.

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

    Quote Originally Posted by fmw View Post
    It looks like it to me. When I was young people relied on individual motivation to solve problems and make things happen. These days society seems content to let govenrment handle it. Government handles it very badly but nobody seems to care. It looks like the current direction very clearly to me.
    I've noticed the same thing.
    Socialism, however, is an economic system in which the means of production is owned and ruin by the government.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

  9. #59
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Khayembii Communique View Post
    When BEA calculates the advance estimate, the Bureau doesn’t yet have complete source data, with the largest gaps in data related to the third month of the quarter. In particular, the advance estimate is lacking complete source data on inventories, trade, and consumer spending on services. Therefore, BEA must make assumptions for these missing pieces based in part on past trends. As part of this process, we publish a detailed technical note that lays out the assumptions made for a particular estimate. BEA also publishes detailed materials on the standardized procedures and methods used in the various vintages of the GDP estimates.

    As new and more complete data become available, that information is incorporated into the second and third GDP estimates. About 45 percent of the advance estimate is based on initial or early estimates from various monthly and quarterly surveys that are subject to revision for various reasons, including late respondents that are eventually incorporated into the survey results. Another roughly 14 percent of the advance estimate is based on historical trends.
    In other words, the advance estimate is basically worthless. My expectation is that these numbers will be revised downward substantially as were the Q1 numbers.
    "For what is Evil but Good-tortured by its own hunger and thirst?"
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Redress View Post
    When you can't argue the facts, try and discredit the messenger...
    " Argue the facts " ?

    Uhm, President Snow posted data minus the context needed to qualify it accurately as "positive economic news " and I suspect he did that on purpose.

    If you need a more detailed explanation as to what I'm referring to I defer to DA60s post in this thread.
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

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