GDP UP

Discussion in 'Current Events' started by unionman, Jan 29, 2010.

  1. unionman

    unionman New Member

    The U.S. economy grew at 5.7% annual rate in the fourth quarter of 2009 -- fastest pace of increase in more than six years.
     
  2. 1989

    1989 Well-Known Member

    But it isn't a "real" number...If it were a real number the dow would be up 400-500 points. We may not even hold the modest gains we have.
     
  3. unionman

    unionman New Member

    That is a huge number that you can not argue with.
     
  4. 1989

    1989 Well-Known Member

    Look at what is behind the number and why were there no jobs added with that number?
     
  5. brett636

    brett636 Well-Known Member


    As usual that number will prove to be higher than the true growth of the economy. I give it 2 weeks max and there will be another article stuffed deep in the lame stream media about how the economy grew much slower than originally reported. Will you come back on this thread and post that article for us too unionman? Honestly, how can we have a net loss of jobs in the quarter and have economic growth that high? I smell a fish.
     
  6. unionman

    unionman New Member

    Come on Brett, why be so doom and gloom? Obviously every company in the U.S.A was restocking there shelves after not buying anything for 12 months but you have to admit this is a very good sign for the economy going forward.
     
  7. brett636

    brett636 Well-Known Member


    Its not doom and gloom, its recognizing the pattern that has taken place over the last year. The last quarter to report growth Obama was all about how the economy grew by something like 3%, but a couple weeks later those numbers were revised to less than one percent, oh yea, and we still lost jobs. The only hope this country has is a massacre of the democrat majorities in Congress this November in order to halt zero's major policy initiatives. Then I will be more positive about the future of this country and economy.
     
  8. unionman

    unionman New Member

    Where do you get such hatred?
     
  9. unionman

    unionman New Member

    Federal spending on stimulus does not show up on any one line of the GDP report. In fact, government spending contributed nothing to growth by itself. But Sohn said it is clear that tax cuts and spending by businesses that received stimulus dollars helped to feed growth in the third and fourth quarters. [​IMG]
     
  10. brett636

    brett636 Well-Known Member

    Government spending through debt that our kids and grandkids get to payback with interest. That makes me feel all warm and fuzzy inside.
     
  11. moreluck

    moreluck golden ticket member

    OH no he didn't.........You can't blame the gloom & doom on Bush and then turn around and credit a good report to Obama. Waffle waffle. Make up your mind which it is and stick with it.
     
  12. unionman

    unionman New Member

    It is what it is.
     
  13. unionman

    unionman New Member

    I'm not jumping on that stupid Tea party lie. That is for stupid people that just love the Republican lie. Bush is the real reason this country is 12 trillion in debt and you can't say its Obama. I will say the Democrats had the majority in congress for the last 5 years and they are just as much to blame but to say that stimulus is bad for our country is just stupid. It has to be done and then we can start to tackle the debt.
     
  14. brett636

    brett636 Well-Known Member

    There is no lie there, its only the truth. When you borrow money that money has to eventually get paid back. I have a number of credit cards with $0 balances, and I try my best to live beneath my means. I can exhaust my savings, max my credit cards, and have a lot nicer stuff but that money I borrowed has to be paid back with interest. The same goes for our government only they've never had a savings and are constantly begging their lenders to increase their borrowing power at an ever increasing rate. It was wrong under Bush, and its accellerated under Obama. Instead of deficits in the couple hundred billion range(which I found unacceptable) they are now in the trillion dollar range(way more unacceptable). Like the fool that you are you believe this is perfectly ok and everythign will be alright. This cannot continue, everything that goes up must come down. If our debt isnt reigned in this country will not be such a great nation in the future as it was in the past two centuries. The scary thing about this is I truly believe that is goal of the liberals running this country.
     
  15. unionman

    unionman New Member

    Let me ask you a question. Why do you think the terrorists hit are world trade center buildings? They are waging a war that will kill this country's financial systems. We fell right into it. How much is the two wars costing this country? Greed will destroy this country faster than any terrorist.
     
  16. tieguy

    tieguy Banned

    great point. Liberals keep trying to cherry pick credit while laying blame on a Bush administration that they want us to believe had no congress.

    This is interesting. a 5.7 percent increase should equate to jubilation on wall street. Instead the market yawned.
    I wonder if they believe the number is doctored. After all just about every other economic indicator shows that the gdp should not have grown that much.
    Its kind of like telling us a yugo with a three cyclinder engine just measured an output of 400 horsepower.
     
  17. av8torntn

    av8torntn Well-Known Member

    My guess is that this last year most realized that stocks were oversold which led to the market run up the later part of last year. Also if you read past the headlines of these articles you discover this.

    "About 60 percent of the fourth quarter's growth resulted from a sharp slowdown in the reduction of inventories as firms began to rebuild stockpiles depleted by the recession.
    Changes to inventories added 3.4 percentage points to the fourth-quarter growth, the Commerce Department said in its report Friday. Excluding inventories, the economy would have grown at a 2.2 percent clip, the government said. That's an improvement from 1.5 percent in the third quarter."

    That puts this in perspective.

    "Consumer spending rose 2 percent, down from a 2.8 percent rise in the third quarter. It added 1.4 percentage points to GDP growth."

    For those claiming that the government did this we have this little gem buried in the report.

    "Government spending was actually a slight drag on growth in the fourth quarter: A small increase in federal spending was outweighed by a drop in state and local spending."

    But the most important part and after the track record of dishonesty from this administration no surprise this is included.

    "Friday's report is the first of the government's three estimates of gross domestic product and is likely to be revised. The government initially estimated third quarter growth was 3.5" percent, which was later revised down to 2.2 percent. The next estimate will be released Feb. 26
     
  18. brett636

    brett636 Well-Known Member

    I'm sorry, but this is like trying to explain quantum physics to a 5 year old. No matter how much I try to dumb it down for you you are too busy clinging to your blanky and sucking your thumb to care. Let the grownups discuss this matter among themselves and if your good I will let you play with your firetruck later. K?
     
  19. unionman

    unionman New Member

    K punkin head
     
  20. tieguy

    tieguy Banned

    in unionmans family tree a punkin head would be considered a rocket scientist.....:)