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Thread: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

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    U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade* - Bloomberg

    The economy in the U.S. expanded more than forecast in the third quarter, capping its strongest six months in more than a decade, as gains in government spending and a shrinking trade deficit made up for a slowdown in household purchases. Gross domestic product grew at a 3.5 percent annualized rate in the three months ended September after a 4.6 percent gain in the second quarter, Commerce Department figures showed today in Washington. It marked the strongest back-to-back readings since the last six months of 2003. The median forecast of 87 economists surveyed by Bloomberg called for a 3 percent advance.
    Damn this terrible Obama economy! /sarcasm
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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    This is good news.


    Hey, though, how does this compare to other Recoveries?

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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    I'm waiting for the resident Obama-slammers to show up and tell us it isn't the economy stupid. That negative GDP from 6 years ago--no problem--let's do stupid and austerity .
    Physics is Phun

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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    Sounds like good news. The economy is growing, unemployment is going down...it seems like in the last two years the economy is growing like many economists predicted it would. Hopefully the good news keeps a'comin'.
    Quote Originally Posted by cpwill View Post
    This is good news.


    Hey, though, how does this compare to other Recoveries?
    I'll be more than happy to tell you if you can direct me to the last time the an increasingly global economy crashed during an advanced technological age.

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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    Quote Originally Posted by cpwill View Post
    This is good news. Hey, though, how does this compare to other Recoveries?
    It doesn't, as the 2008 - 2009 economic & financial crisis was a once in a generation event.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    Quote Originally Posted by Slyfox696 View Post
    I'll be more than happy to tell you if you can direct me to the last time the an increasingly global economy crashed during an advanced technological age.
    So it is your claim that.... trade with other countries is responsible for this? Or are you blaming... microchips?

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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    Ummmm....roughly 2/3rd's of the U.S. economy is made up of consumer spending - yet despite a drop in consumer spending, the GDP went up 3.5%.

    Then why did the GDP do so well?

    Government spending and an improved trade deficit (the latter probably helped greatly by the stronger US dollar as imports became cheaper).

    Q3 GDP Rises 3.5% Despite Sharp Slowdown In Consumption, Pushed Higher By Government Spending Spree | Zero Hedge

    But since increased government spending is not sustainable and the government's/Fed's policies are pro-weaker dollar, this growth is not sustainable unless consumer spending turns around.

    Once again, please read beyond the headlines people.
    Last edited by DA60; 10-30-14 at 10:58 AM.

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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    Quote Originally Posted by DA60 View Post
    Once again, read beyond the headlines people.
    Your perpetual pessimism continues to be exposed for what it is... complete absurdity. Carry on!
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    Quote Originally Posted by cpwill View Post
    So it is your claim that.... trade with other countries is responsible for this? Or are you blaming... microchips?
    Is that what I said?

    No, it isn't. I said trying to compare completely different situations with one another really isn't much more than a waste of time. Just accept the good news for what it is.

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    re: U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade[W:75]

    Quote Originally Posted by Slyfox696 View Post
    Is that what I said?
    Oh. Then perhaps you could explain how you think that they impact?

    Just accept the good news for what it is.
    Someone who keeps firerfighters from being able to save your house while it is on fire and then excitedly announces that it's okay because they saved your fine china isn't going to be received with unqualified celebration.

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