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I guess the recession is officially over - BlazerFan11 - 10-29-2009 09:25 AM
Funny how the MSM was quick to throw the R-word out there far before the textbook definition was met (consecutive quarters of negative growth), but are quick to use it to signal the end of the recession. Yep, no agenda there.
http://news.yahoo.com/s/ap/20091029/ap_on_bi_go_ec_fi/us_economy
RE: I guess the recession is officially over - SumOfAllFears - 10-29-2009 09:43 AM
We wouldn't want that troublesome, annoying, harassing, bothersome, irksome, vexatious recession or high unemployment to get in the way of Obama's re-election campaign.
RE: I guess the recession is officially over - claytonbigsby - 10-29-2009 09:44 AM
It's the technically over, but doesn't mean that we can't go back into a recession. The first quarter recession started was january 2008.
RE: I guess the recession is officially over - DrTorch - 10-29-2009 09:46 AM
Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
Seems to me they outed themselves in the first sentence. Did this bother anyone else?
RE: I guess the recession is officially over - GGniner - 10-29-2009 09:49 AM
Unemployment numbers are more important and need to be emphasized, the Business Cycle will always do its thing. Just now its doing it with less workers and we turn into a Socialist European state.
So yeah, the partisian media will treat this with a narrative like its the greatest economic news in the history of economics while ignoring Obama's Unemployment predictions combined with what has happened instead.
Also what will be interesting is how the doomsday crowd spin the numbers, my guess is they will claim the gain is do to Inflation and thus not a real gain. Which there may be some truth too, though still lots of Deflationary signs out there too. You'd think they'd have a better understanding of the austrian business cycle applied than they do.
RE: I guess the recession is officially over - GGniner - 10-29-2009 09:51 AM
(10-29-2009 09:46 AM)DrTorch Wrote:Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
Seems to me they outed themselves in the first sentence. Did this bother anyone else?
4th quarter numbers will be telling here.
Not sure the Clunker Govt. Debt and first time home buyers Govt. Debt inflated it but so much, still likely a Postive number.
RE: I guess the recession is officially over - claytonbigsby - 10-29-2009 11:29 AM
(10-29-2009 09:51 AM)GGniner Wrote:(10-29-2009 09:46 AM)DrTorch Wrote:Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
Seems to me they outed themselves in the first sentence. Did this bother anyone else?
4th quarter numbers will be telling here.
Not sure the Clunker Govt. Debt and first time home buyers Govt. Debt inflated it but so much, still likely a Postive number.
Exactly, that's when people make their year and we have the holiday season. If people are spending money for thanksgiving and xmas, 2010 could look better. I said back in 2007 that it would be June 2010 before the economy rebounded.
RE: I guess the recession is officially over - DrTorch - 10-29-2009 12:11 PM
(10-29-2009 09:51 AM)GGniner Wrote:(10-29-2009 09:46 AM)DrTorch Wrote:Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
Seems to me they outed themselves in the first sentence. Did this bother anyone else?
4th quarter numbers will be telling here.
Not sure the Clunker Govt. Debt and first time home buyers Govt. Debt inflated it but so much, still likely a Postive number.
I think it's going to be ugly. Unemployment benefits running out. Unemployment rising. Credit cards raising rates. All means less shopping.
We've almost finished ours from bargains throughout the year. We're probably a bit odd in that respect, but I think people all over are cutting back.
RE: I guess the recession is officially over - RobertN - 10-29-2009 12:52 PM
(10-29-2009 09:46 AM)DrTorch Wrote:No. It means it got the economy moving, which was what those car and housing programs were intended to accomplish.Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
Seems to me they outed themselves in the first sentence. Did this bother anyone else?
RE: I guess the recession is officially over - SumOfAllFears - 10-29-2009 12:54 PM
(10-29-2009 12:52 PM)RobertN Wrote:(10-29-2009 09:46 AM)DrTorch Wrote:No. It means it got the economy moving, which was what those car and housing programs were intended to accomplish, but failed miserably.Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
Seems to me they outed themselves in the first sentence. Did this bother anyone else?
FIFY
RE: I guess the recession is officially over - RobertN - 10-29-2009 01:00 PM
(10-29-2009 12:11 PM)DrTorch Wrote:Hey, we should have let those socialist unemployment benefits expire long ago(and should not have even existed in the first place). We should have just let those people become homeless and go hungry. Screw them. At least I have mine! There are always churches one can go to for the help you need.(10-29-2009 09:51 AM)GGniner Wrote:(10-29-2009 09:46 AM)DrTorch Wrote:Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
Seems to me they outed themselves in the first sentence. Did this bother anyone else?
4th quarter numbers will be telling here.
Not sure the Clunker Govt. Debt and first time home buyers Govt. Debt inflated it but so much, still likely a Postive number.
I think it's going to be ugly. Unemployment benefits running out. Unemployment rising. Credit cards raising rates. All means less shopping.
We've almost finished ours from bargains throughout the year. We're probably a bit odd in that respect, but I think people all over are cutting back.
Signed, Republican Party Member
RE: I guess the recession is officially over - GGniner - 10-29-2009 01:06 PM
Flashback to 2003, 7.3% GDP Gain
CNN Reports, You Decide:
http://money.cnn.com/2003/10/30/news/economy/gdp/index.htm
Quote:While Treasury Secretary John Snow predicted this month the economy would soon be adding 200,000 jobs a month, other White House officials Thursday were quick to note the recent burst of growth has yet to create many jobs.
"We need to continue to act to build upon the steps we have taken to get our economy growing so we can continue to translate growth into job creation," said White House spokesman Scott McClellan, according to a Reuters report.
The Labor Department, in a separate report Thursday, said new weekly claims for unemployment benefits were still relatively high in the week ending Oct. 25.
In fact, during a quarter with the strongest growth rate since 1984, total employment fell by 165,000 jobs, according to Labor Department statistics, in part because of strong productivity growth, which enables companies to get more work out of fewer workers.
but, but, but....Where are the Jobs????? CNN 2003 spin
and the Unemployment Rate then was much Lower than today.
$1000 bucks says none of the MSM mentions this today/tonight:
![[Image: stimulus-vs-unemployment-september-dots.gif]](http://michaelscomments.files.wordpress.com/2009/10/stimulus-vs-unemployment-september-dots.gif)
RE: I guess the recession is officially over - DrTorch - 10-29-2009 01:49 PM
(10-29-2009 09:51 AM)GGniner Wrote:(10-29-2009 09:46 AM)DrTorch Wrote:Quote:WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
Seems to me they outed themselves in the first sentence. Did this bother anyone else?
4th quarter numbers will be telling here.
Not sure the Clunker Govt. Debt and first time home buyers Govt. Debt inflated it but so much, still likely a Postive number.
http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches.aspx?post=1341914&_blg=1,1341914
C4C contributed almost half.