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Thread: Economy grows at fastest pace in 6 years

  1. #1
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    Default Economy grows at fastest pace in 6 years

    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 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...s_and_economy/

    That's encouraging.

  2. #2
    Senior Member Franco's Avatar
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    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.
    It's such a shame that in the USA, defending Liberty has become such a heroic deed.

  3. #3
    Senior Member Goose's Avatar
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    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.

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    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.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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    Quote Originally Posted by Buzz View Post
    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, .
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  6. #6
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    It’s good news, but not time to celebrate yet. The economy is still fragile, and could still go in the wrong direction.

  7. #7
    Senior Member duckheads's Avatar
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    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!!!!
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    Senior Member K G's Avatar
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    Not to mention the largest national debt and trade deficit in the country's history....

    Hardly my definition of encouraging regards,

    kg
    I keep my PM box full. Use email to contact me: rockytopkg@aol.com.

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    Senior Member Buzz's Avatar
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    Quote Originally Posted by Marvin S View Post
    Climbing the Wall of Worry, .

    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.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

  10. #10
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    Quote Originally Posted by K G View Post
    Not to mention the largest national debt and trade deficit in the country's history....

    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!)
    God Bless PFC Jamie Harkness. The US Army's newest PFC, but still our neighbor's little girl!

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