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Economy soars 5.7 percent, fastest in 6 years

Hatuey

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Economy soars 5.7 percent, fastest in 6 years - Yahoo! News

The economy grew at its fastest pace in more than six years in the fourth quarter, surprising economists, as businesses curbed their aggressive cut in stocks and stepped up spending.
The robust growth pointed to a sustainable recovery in a crucial period before government stimulus plans run out and was good news for an administration amid political difficulties.
Gross domestic product expanded at a 5.7 percent annual rate, the Commerce Department said on Friday in its first estimate for the quarter. It was a strong end to a year in which the economy shrank by 2.4 percent -- the worst performance since 1946.
While much of the growth resulted from companies' drawing down inventories more slowly than they did earlier in the year rather than from a surge in domestic demand, economists said it was still a positive report.

I wonder whether this can be in any way attributed to Obama's stimulus or not. Regardless of how much credit one can attribute to the CinC I am sure we will see people looking for something wrong with economic growth.
 
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Great news for the country....bad news for the party of No.

I can't wait to see all the right-wingers trying to explain how this has to do with the policies of GWB and that Obama gets zero credit for helping our economy recover.

Let the games begin!
 
I'm sure they'll be right in there with the Lefties who suddenly, now, after a year, finally find something Obama could be responsible for.
 
Great news for the country....bad news for the party of No.

I can't wait to see all the right-wingers trying to explain how this has to do with the policies of GWB and that Obama gets zero credit for helping our economy recover.

Let the games begin!

Wow, took all of 26 minutes for this to become a lame partisan blame-fest. Must be a new record.
 
Nobody tell Maximus Zeebra this. He is so determined to turn everything into America's ultimate doom he may slash his wrists.
 
Frankly, this is the time to be blasting this on every air wave in order to get consumer confidence back up. Once consumers start spending again, people will start hiring again and unemployment will once again go down. Unfortunately, that is when inflation will go up, but better to have an inflated dollar than a useless dollar.
 
Wow, took all of 26 minutes for this to become a lame partisan blame-fest. Must be a new record.

So who's policies does this have to do with?
 
Great news for the country....bad news for the party of No.

I can't wait to see all the right-wingers trying to explain how this has to do with the policies of GWB and that Obama gets zero credit for helping our economy recover.

Let the games begin!
hopefully this is a sign that things are on the rebound...
 
4th quarter's fast economic pace likely to wane - Yahoo! Finance

fourth sentence of AP's overtly pessimistic piece on this topic: "but analysts warn it's unsustainable"

what?

why?

"consumer spending remains weak"

in a nutshell, too much of the 5.7 came from businesses restocking inventory, spending not likely soon to be duplicated unless consumers start consuming again

AP's depression derives from it's premise that "to drive down the jobless rate by just 1% this year, the economy will have to grow by 5% for the whole year"

"no one thinks that will happen"

"for all the last year, workers' compensation rose by the smallest amount on records going back more than a quarter century"

ie, employees poorly paid can't spend

"roughly 2/3 of the quarter's growth came from increased manufacturing as businesses drew down their stockpiles of goods [inventories] at a slower rate"

"but companies will eventually let those inventories fall again unless consumers spend more"

"unlike past rebounds driven by the spending of ordinary shoppers, this one appears to hinge on spending by businesses, foreigners and---until it runs out---govt

"history suggests this isn't the recipe for a strong economy"

AP is painting the picture of a double dip

friday's morning msnbc was dominated by this same take on the 5.7---inventory and consumer spending

don't dance too loud, there's still a lot of pain out there, and lots more to come
 
4th quarter's fast economic pace likely to wane - Yahoo! Finance

fourth sentence of AP's overtly pessimistic piece on this topic: "but analysts warn it's unsustainable"

what?

why?

"consumer spending remains weak"

in a nutshell, too much of the 5.7 came from businesses restocking inventory, spending not likely soon to be duplicated unless consumers start consuming again

AP's depression derives from it's premise that "to drive down the jobless rate by just 1% this year, the economy will have to grow by 5% for the whole year"

"no one thinks that will happen"

"for all the last year, workers' compensation rose by the smallest amount on records going back more than a quarter century"

ie, employees poorly paid can't spend

"roughly 2/3 of the quarter's growth came from increased manufacturing as businesses drew down their stockpiles of goods [inventories] at a slower rate"

"but companies will eventually let those inventories fall again unless consumers spend more"

"unlike past rebounds driven by the spending of ordinary shoppers, this one appears to hinge on spending by businesses, foreigners and---until it runs out---govt

"history suggests this isn't the recipe for a strong economy"

AP is painting the picture of a double dip

friday's morning msnbc was dominated by this same take on the 5.7---inventory and consumer spending

don't dance too loud, there's still a lot of pain out there, and lots more to come
anyone who is honest, doesnt expect to 'recover' everything overnight...this will take some time.
 
tell it to ap and msnbc

they're honest
 
tell it to ap and msnbc

they're honest
do you agree that a full recovery will take time? or do you expect obama to snap his fingers, and have everything fall into place?
 
So who's policies does this have to do with?

No clue, plus it would be overly simplistic to say it was entirely one person's policies anyways. But I'm certainly not going to pretend it was GWB's.
 
So who's policies does this have to do with?

I'd say it's the result of the aggregate "policy" of millions of people making individual economic decisions on a daily basis. As most economic conditions are. Including bad ones.
 
Economy soars 5.7 percent, fastest in 6 years - Yahoo! News



I wonder whether this can be in any way attributed to Obama's stimulus or not. Regardless of how much credit one can attribute to the CinC I am sure we will see people looking for something wrong with economic growth.
This recovery is due to businesss restocking their depleted inventory, this will only be a short bump. Most business now have moved to basically a three day inventory, opposed to perhaps a 2 week inventory as was done before. The hiring of census workers to the tune of 1 million will also give a bump to the employment roles, but only for one working season.
 
The economy may have grown, but unemployment is still rising. I would argue that the market is fixing itself slowly. Obama's stimulus did no good and only brought harm to this nation. When hyperinflation happens he'll probably blame it on Bush too. Such an arrogant man child...
 
We would be in the midst of the second Great Depression if Bush and Obama hadn't fostered the Stimulus bills. The majority of Republicans who later opposed stimulus efforts only did so in order to get as much political mileage out of the deficits as they could. If the policies they pretend to endorse had actually been implemented, it would have been exactly like the policies that made the first Depression so much worse.
 
The economy may have grown, but unemployment is still rising.

Unemployment is a lagging indicator of the direction of the economy.
 
Obama is moving completely in the opposite direction to economic recovery, growing the goverment and it's projects have to be subsidized by taxpayers, no employment no taxpayers.
 
We would be in the midst of the second Great Depression if Bush and Obama hadn't fostered the Stimulus bills.

Not according to Obama.

Unemployment-with-stimulus-graph.jpg


It's a ridiculous assertion with absolutely no proof or basis anyways.

The majority of Republicans who later opposed stimulus efforts only did so in order to get as much political mileage out of the deficits as they could.

Right, they couldn't possibly be actually opposed to the bill. People voting their minds, what a ridiculous thought. After all, Republican politicians have completely different opinions than regular Republican people, most of whom opposed the stimulus.

If the policies they pretend to endorse had actually been implemented, it would have been exactly like the policies that made the first Depression so much worse.

What, tariffs and regulation? I have yet to hear Republicans "pretend to endorse" such things.
 
It's a ridiculous assertion with absolutely no proof or basis anyways.

Particularly when half of TARP wasn't even used.
 
do you agree that a full recovery will take time? or do you expect obama to snap his fingers, and have everything fall into place?

thank you for asking, but no one cares what i think, i don't even care what i think

america DEMANDS that president obama fix this catastrophe NOW

or else he needs to go away

that's just the way it is, if he can't handle it he shouldn't have run
 
thank you for asking, but no one cares what i think, i don't even care what i think

america DEMANDS that president obama fix this catastrophe NOW

or else he needs to go away

that's just the way it is, if he can't handle it he shouldn't have run

This catastrophe can't be fixed. Too much debt, too many jobs lost overseas, and a collapse in the housing and financial sectors. People better get used to it because this is as good as it's going to get.
Obama will be a one term president and so will the next one and the next. Promises will be made that can't be kept. That's the way our system works.
 
Not according to Obama.
What a ridiculous misuse of the claims of the economists who were advising Obama. This is about the report where they made their predictions and recommendations regarding the stimulus:

TIME Magazine said:
The two economists did say in the report that they expect the bulk of the jobs created by the stimulus to happen in 2010 and 2011.


The fact that unemployment got worse than expected before the jobs created by the stimulus could take effect is simply an even better reason to have a stimulus.


It's a ridiculous assertion with absolutely no proof or basis anyways.
Its not a ridiculous assertion, and it does have a basis, but you are right that there is no way to prove it. How DO we prove what WOULD have happened, after all??

What you would have liked to have done is do what flies in the face of the most reputable economic science (the "basis"), and then what likely WOULD have happened would have been a Depression.

But, you're right, we'll never know.
 
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thank you for asking, but no one cares what i think, i don't even care what i think

america DEMANDS that president obama fix this catastrophe NOW

or else he needs to go away

that's just the way it is, if he can't handle it he shouldn't have run
a simple answer and very true.
 
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