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Thread: Economy soars 5.7 percent, fastest in 6 years

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    Economy soars 5.7 percent, fastest in 6 years

    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.
    Last edited by Hatuey; 01-30-10 at 12:11 AM.
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    Re: Economy soars 5.7 percent, fastest in 6 years

    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!
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    Re: Economy soars 5.7 percent, fastest in 6 years

    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.
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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by disneydude View Post
    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.

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    Re: Economy soars 5.7 percent, fastest in 6 years

    Nobody tell Maximus Zeebra this. He is so determined to turn everything into America's ultimate doom he may slash his wrists.

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    Re: Economy soars 5.7 percent, fastest in 6 years

    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.

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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by Dav View Post
    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?
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by disneydude View Post
    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...

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    Re: Economy soars 5.7 percent, fastest in 6 years

    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

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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by The Prof View Post
    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.

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