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Roger Perry
01-29-2010, 09:34 AM
The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest in more than six years, as businesses (http://www.msnbc.msn.com/id/35141308/ns/business-stocks_and_economy/#) made less-aggressive cuts to inventories and stepped up spending.
The Commerce Department said on Friday its first estimate put fourth-quarter gross domestic product growth at its fastest pace since the third quarter of 2003. The economy expanded at a 2.2 percent annual rate in the third quarter.
Analysts polled by Reuters had forecast GDP, which measures total goods and services output within U.S. borders, growing at a 4.6 percent rate in October-December period.

http://www.msnbc.msn.com/id/35141308/ns/business-stocks_and_economy/

That's encouraging. :cool:

Franco
01-29-2010, 09:59 AM
It will be interesting to see if that trend continues.

What will super-inflation do to our growth? The President can not continue to devalue the dollar by printing more money and borrowing! Americans will have to pay the piper sooner or later.

Goose
01-29-2010, 11:08 AM
Great! I'll go out and buy a flat screen.

But I do love numbers so let's look at a few:

The senate democrats just approved a $1.9 trillion increase to our national debt...or about $6,200 per person. Make sure you tell your kids.

So after this money is spent our national debt will be about $14.3 trillion...or about $45,000 per person. Make sure you tell your grandkids.

If you want to add unfunded stuff to our grand total we're talkin' over $100 trillion...or about $350,000 per person.

I found this during my morning readings:

"The people have been deluded into thinking that America's arrogant, egomaniacal, always-wrong-but-never-in-doubt fiscal witch doctors and charlatans, including Greenspan, Rubin, Summers, Geithner and Ponce de Bernanke, have discovered a Monetary Fountain of Youth that endlessly spits up free money from the center of the earth in a geyser of good will toward the United States."

"Unfortunately, this delusion is false: there is no Monetary Fountain of Youth, and contrary to the apparent beliefs of the self-deified man-gods in Washington D.C., the debt and deficits are real, completely out of control and 100% guaranteed to create catastrophic consequences for the nation and it's people."

We live in Cuba now.

Buzz
01-29-2010, 11:40 AM
Good news, but I'm not sure we can draw any conclusions from it about the future. I pray that this continues, but I'm not ready to pop any corks, that's for sure.

Marvin S
01-29-2010, 11:52 AM
Good news, but I'm not sure we can draw any conclusions from it about the future. I pray that this continues, but I'm not ready to pop any corks, that's for sure.

I've read a lot of glum commentary. I'm still not satisfied that housing is shook out yet, too many mortgages under water. Were I a wage earner I would probably return the house & rent until things stabilized. Those people would be money ahead.

As you saw this week, BHO makes a comment at the money people & the market drops. Everything is still fairly sensitive. Climbing the Wall of Worry, :cool:.

Blackstone
01-29-2010, 02:06 PM
It’s good news, but not time to celebrate yet. The economy is still fragile, and could still go in the wrong direction.

duckheads
01-29-2010, 02:32 PM
Tell that to all of the small businesses that are continuing to shut their doors for good. don't know what it is like in everyone else's backyard but around here most of the small businesses are barely hanging on. our sales are down and no service coming in either. Carpet cleaner next door is down from three guys to just one. mechanic just down the road doesn't have anything coming in and hasn't for several months. So the talking heads can say what they want but I ain't buy'in!!!!

K G
01-29-2010, 03:54 PM
Not to mention the largest national debt and trade deficit in the country's history....:rolleyes:

Hardly my definition of encouraging regards,

kg

Buzz
01-29-2010, 04:50 PM
Climbing the Wall of Worry, :cool:.


There are still so many problems with the real estate market. We work with power utilities all over the country and we are hearing of lay offs. Normally the utilities are not so effected by recession. Yesterday I was talking to a manager at a utility in Arizona. He is laying off guys. He mentioned 40,000 foreclosed homes sitting on the market. They had been booming with erecting distribution for all the new development, and now NOTHING is going on.

dnf777
01-29-2010, 05:24 PM
Not to mention the largest national debt and trade deficit in the country's history....:rolleyes:

Hardly my definition of encouraging regards,

kg

Depends on how you measure it. As a percentage of GNP, its not the largest. I still find it amusing that ONLY when the debt hits $12 trillion, do the republicans start to worry about spending!?! All of the sudden, now, its an issue worth getting a sweaty crack over, but not for the first 12 trill. (maybe, just maybe, its only when a democrat is in office do they pipe up about spending!)

road kill
01-29-2010, 05:34 PM
Depends on how you measure it. As a percentage of GNP, its not the largest. I still find it amusing that ONLY when the debt hits $12 trillion, do the republicans start to worry about spending!?! All of the sudden, now, its an issue worth getting a sweaty crack over, but not for the first 12 trill. (maybe, just maybe, its only when a democrat is in office do they pipe up about spending!)

So, as an "independent," you are all right with the current spending spree??:D



rk

david gibson
01-29-2010, 05:51 PM
lets all just keep clear on one thing - if its bad - its because of the last 8 yrs of bad policies. if its good, then the "annointed one"'s visions and ideas are working.

T. Mac
01-29-2010, 07:55 PM
Sounds like good news, however the thought on the street is that this uptick is more an accounting anomaly caused by an adjustment for inventory levels rather than real growth: http://www.msnbc.msn.com/id/35149367/ns/business-answer_desk/

Kind of like the unemployment numbers that drop not because people got jobs but because people gave up looking for jobs.

T. Mac

dnf777
01-29-2010, 08:20 PM
So, as an "independent," you are all right with the current spending spree??:D



rk

You know me better than that. That is the biggest disappointment of 2009. Keeping 99% of the health reform debate public, then going behind closed doors for the last 1% that really matters, was another. Its like televising the entire football season, then blacking out the superbowl, and saying, well, you got to see most of the season!

I had hoped that with a guy in the WH that "seemed" to be against lobbyists and govt-for-sale, and congress, we could un-do some of the disastrous policies of the past decade.....namely NAFTA....but it's turned out to be more of the same.

To be fair, Obama did inherit a $1 trillion deficit, to add on top of an $11 trillion debt, in the worst economic downturn in our lives, with our country bleeding jobs like a stuck pig, and a threatened global banking and monetary collapse.....you REALLY didn't expect a turnaround with job creation, balanced budget, stock rallies, and prosperity. did you? please tell me not!
And you don't think we'd all be sipping daiquiris on our motor yachts had McCain or Romney or Huckabee won, either, do you?

You're right on the other thread about life's too short! Not counting dog years, either! On that note, I think I'm going to enjoy a tumbler of liquid warmth with Abner. Have a good one--

dave

Cody Covey
01-30-2010, 12:04 AM
Dave I think you will find most on here have commented at one time or another about the out of control spending Bush did, especially in the last couple years of his administration. The only reason i "expected" a complete turn around is because that is what Obama promised. He said unemployment would never go above 8 percent and he would "save" or create 5 million jobs. Now the administration can't even get its facts right about how many jobs it has saved. Not to mention we are now at 10% were at 10.7% and real unemployment is more like 17% economists are saying. That doesn't include the super inflation that will occur from spending HUGE amounts of money that we don't have.

Obama didn't come in and say well if we do this and this then we will just bring us back from the edge he said if we pass the stimulus and other things that we will be okay and can go back to our "normal" lives.

dnf777
01-30-2010, 06:18 AM
Dave I think you will find most on here have commented at one time or another about the out of control spending Bush did, especially in the last couple years of his administration. The only reason i "expected" a complete turn around is because that is what Obama promised. He said unemployment would never go above 8 percent and he would "save" or create 5 million jobs. Now the administration can't even get its facts right about how many jobs it has saved. Not to mention we are now at 10% were at 10.7% and real unemployment is more like 17% economists are saying. That doesn't include the super inflation that will occur from spending HUGE amounts of money that we don't have.

Obama didn't come in and say well if we do this and this then we will just bring us back from the edge he said if we pass the stimulus and other things that we will be okay and can go back to our "normal" lives.

I'm with ya. I am very disappointed, although I never held very high hopes for a miracle. I did not actually vote for the current guy, despite what several have assumed. I could not however, vote for McCain and subject us to more of the same policies of the past 8 years, which had us on a trajectory towards certain demise and collapse.

Kind of like the condemned prisoner being offered a choice between quick death, and slow death. Not a real nice choice.

road kill
02-03-2010, 03:33 PM
The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest in more than six years, as businesses (http://www.msnbc.msn.com/id/35141308/ns/business-stocks_and_economy/#) made less-aggressive cuts to inventories and stepped up spending.
The Commerce Department said on Friday its first estimate put fourth-quarter gross domestic product growth at its fastest pace since the third quarter of 2003. The economy expanded at a 2.2 percent annual rate in the third quarter.
Analysts polled by Reuters had forecast GDP, which measures total goods and services output within U.S. borders, growing at a 4.6 percent rate in October-December period.

http://www.msnbc.msn.com/id/35141308/ns/business-stocks_and_economy/

That's encouraging. :cool:

Tell these folks how good the economy is;

http://apnews.myway.com/article/20100202/D9DK7V400.html

or these;

http://apnews.myway.com/article/20100202/D9DK7V400.html





rk

menmon
02-03-2010, 04:16 PM
It is amazing what a little growth in revenue will do for a bottom-line, and the loss of revenue will send a company in a tail-spin that many never pull out of.

I don't like the spending, but understand it, and I believe at this point we have no other options. All this talk right now about cutting spending is nothing but talk and politics. If they cut spending now the unemployment will go threw the roof. We took a simular approach in the 30s and look at how long it took the country to pull out of it and ask your parents or grandparents about it.

What they are attempting may not work, but it is better than the alternative.

As for as the dollar is concerned, it is trading higher against the yen and euro than it has in years. The reason the market is off today is because of the strengthing dollar. As for as trade deficits are concerned, that gap is narrowing for the first time in years, given the dollars position against other currencies

Inflation is a function of currencies, and if our dollar is strengthening against them, inflation is at bay.

You can't listen to the nysayers; they will get you in trouble.

Buzz I'm Sam's Dad...how have you been

precisionlabradors
02-03-2010, 05:09 PM
So, as an "independent," you are all right with the current spending spree??:D



rk
i don't think he was saying that...just that he is tired of the whiners being blind to or supportive of spending when their guy is the one doing it, but acting like 2012 has arrived when not their guy is spending.
________
Airsoft Good (http://airsoft-shop.info/tag/good)

kjrice
02-04-2010, 01:51 AM
The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest in more than six years, as businesses (http://www.msnbc.msn.com/id/35141308/ns/business-stocks_and_economy/#) made less-aggressive cuts to inventories and stepped up spending.
The Commerce Department said on Friday its first estimate put fourth-quarter gross domestic product growth at its fastest pace since the third quarter of 2003. The economy expanded at a 2.2 percent annual rate in the third quarter.
Analysts polled by Reuters had forecast GDP, which measures total goods and services output within U.S. borders, growing at a 4.6 percent rate in October-December period.

http://www.msnbc.msn.com/id/35141308/ns/business-stocks_and_economy/

That's encouraging. :cool:
Geez, I hope so, considering we lost a decade of investments.

K G
02-04-2010, 11:22 PM
The DJIA almost back below 10,000....keep on growing that economy, Barry....:cool:

k g

Buzz
02-09-2010, 06:31 PM
Buzz I'm Sam's Dad...how have you been

Nice to hear from you. Hope Sam is doing well. Who do you have him with now? I hear your old trainer went into training bomb dogs. Will we be seeing you up north running any trials again this summer?