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Thread: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

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    Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain - Bloomberg

    The world’s largest economy surged in the third quarter, expanding at the fastest pace in more than a decade, as U.S. consumers and businesses spent more than previously estimated.Gross domestic product grew at a 5 percent annual rate from July through September, the biggest advance since the third quarter of 2003, and up from a previously estimated 3.9 percent, revised figures from the Commerce Department showed today in Washington. The median forecast of 75 economists surveyed by Bloomberg projected a 4.3 percent increase.
    Consumer spending is poised to charge into 2015 as more employment and lower gasoline prices boost household confidence and buying power, one reason why the Federal Reserve will probably raise interest rates next year. Other aspects of GDP, including inventories, trade and government spending, are unlikely to maintain the strength seen last quarter, indicating the pace of growth will moderate at the end of the year.
    “After five years of weak growth, the economy is finally coming out of rehab,” Ethan Harris, co-head of global economics research at Bank of America Corp. in New York, said in a research note before the report. “Look for the Fed to change policy in a way that only slowly and modestly tightens financial conditions.”


    More good news!

    Oh wait... this can't be true if it's good for Obama.
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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    Quote Originally Posted by Tettsuo View Post
    Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain - Bloomberg



    More good news!

    Oh wait... this can't be true if it's good for Obama. [/FONT][/COLOR]
    That is good, indeed. That gives Obama the chance to reduce government spending. Let's hope he does a better job of it than Clinton did.

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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    This is a welcome development. It also helps illustrate just how strong a headwind household deleveraging had been in capping earlier growth.

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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    Quote Originally Posted by Tettsuo View Post
    Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain - Bloomberg



    More good news!

    Oh wait... this can't be true if it's good for Obama. [/FONT][/COLOR]
    Im confused. Is the topic economics, or politics?

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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    It should continue to grow if gas prices stay low. If oil surges, the then the economy slows.

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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    Quote Originally Posted by Tettsuo View Post
    Oh wait... this can't be true if it's good for Obama.
    Is it?

    With all this economic improvement going on the Fed is going to be hard pressed to continue justifying historically low interest rates.

    When interest rates increase we'll all be able to enjoy the real results of President Obama's record borrowing.

    At some point over the next two years servicing the debt is going to cost as much as, if not more than, funding the Department of Defense.

    That's not good for America, and I can't see any way that it would be good for Democrat electoral aspirations.

    At the end of the day, President Obama will have thrown the country, and his own party, under the bus and he'll walk away from office as the failure that anyone who has been paying attention knows he's always been.
    “Now it is not good for the Christian’s health to hustle the Aryan brown,
    For the Christian riles, and the Aryan smiles and he weareth the Christian down;
    And the end of the fight is a tombstone white with the name of the late deceased,
    And the epitaph drear: “A Fool lies here who tried to hustle the East.”

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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    Quote Originally Posted by Declan View Post
    It should continue to grow if gas prices stay low. If oil surges, the then the economy slows.
    This is true.

    However no amount of growth will suffice as far as the FedGov is concerned. The more we make, the more they take.
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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    Quote Originally Posted by Declan View Post
    It should continue to grow if gas prices stay low. If oil surges, the then the economy slows.
    Indeed. These two facets of the economy are pretty closely linked.

    Gas, by it's very nature, are pretty high up in the consumer's 'gotta have' and preempts other spending, hey, people gotta get to work and such. Falling prices at the pump frees up cash for other things, and in the season, that'll be more spending for gifts and such. I'm expecting a good year for the retailers.

    As quickly as these falling oil prices put more spending money in consumer's pockets, will be as quickly raising gas prices will take that spending away a well.
    Disinformation campaign? The Russian collusion meme pushed by the 'news' media, behaving as a political propaganda organ, hell bent to destroy a legitimately elected president to implement his agenda per the votes of the same electorate. Reference The Big Lie Reference Goebbels

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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    Quote Originally Posted by eohrnberger View Post
    Indeed. These two facets of the economy are pretty closely linked.

    Gas, by it's very nature, are pretty high up in the consumer's 'gotta have' and preempts other spending, hey, people gotta get to work and such. Falling prices at the pump frees up cash for other things, and in the season, that'll be more spending for gifts and such. I'm expecting a good year for the retailers.

    As quickly as these falling oil prices put more spending money in consumer's pockets, will be as quickly raising gas prices will take that spending away a well.
    It is a balancing I think. Nonconventional production hires a lot of people which benefits the economy, but for consumers who do not work in the industry, the multiplier effect of energy spending is largely non-existent compared to retail. Hopefully an equilibrium will be reached that allows continued job growth within oil and gas extraction but sustainable lower energy costs for consumers. Hopefully lower energy costs will create a further cushion to allow competition to further drive down other costs on non-discretionary goods like food which will create even more discretionary spending.

    A good sign. I had hoped this would have broken through last year to shorten the dead decade some, but we seem to have turned a corner in a bit of a political ironic way--big oil saves democratic face

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    Re: Economy Grows by Most in a Decade on U.S. Consumer-Spending Gain

    Quote Originally Posted by WCH View Post
    This is true.

    However no amount of growth will suffice as far as the FedGov is concerned. The more we make, the more they take.
    As it should be.

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