economy grows!

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netrox

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Sorry, Kokonut, seems like Obama's Stimulus is working!

Government says GDP grew 3.5% in third quarter, ending a year-long string of declines and coming in better than forecasts.

A rebuilding of inventories by businesses that had slashed production and jobs over the past year was a major contributor to the growth in the third quarter. So was a rebound in auto sales, which were helped by the government's Cash for Clunkers program. The economic stimulus package, with public works projects and aid to state and federal governments, also boosted growth.

GDP up 3.5% in third quarter, topping expectations - Oct. 29, 2009
 
netrox said:
Sorry, Kokonut, seems like Obama's Stimulus is working!

Government says GDP grew 3.5% in third quarter, ending a year-long string of declines and coming in better than forecasts.

A rebuilding of inventories by businesses that had slashed production and jobs over the past year was a major contributor to the growth in the third quarter. So was a rebound in auto sales, which were helped by the government's Cash for Clunkers program. The economic stimulus package, with public works projects and aid to state and federal governments, also boosted growth.

GDP up 3.5% in third quarter, topping expectations - Oct. 29, 2009
Click to expand...

It sounds like we will get out of recession soon but economy wouldn't grow like crazy until 2011, just like after we got out of recession in late 2001 and don't experience any crazy growth until 2003.
 
of course, it takes a while for employment to pick up.
 
I guess the economy will start seeing improvements by 2011 or so....unemployment is still rising, anyway.
 
I'm not suprised. This bum economy..seems like there's nowhere to go BUT up.
 
All I want for Xmas is lower gas and food prices and employment for the jobless.....Xmas isn't gonna be the same this year!....My 18 yr old finally found a job....!....more than minimum wage, which makes him happy....he was depressed w/low self-esteem for awhile.....and he really didn't want to join the military, as many young men are doing.....
 
Sounds like 2010 is a good time for us unemployees head out for a job hunt.

At least I hope so.
 
In all honesty...the 'cash for clunkers' input and the public works input don't really count. As the are directly put into economy. They are like props. We have to grow outside of those inputs to be really improving. The other mentioned item sounds good. The rebuilding of inventories good news. Believe the clunkers and public works keeping some things moving along and we avoided a depression, which was a likely scenario.


netrox said:
Sorry, Kokonut, seems like Obama's Stimulus is working!

Government says GDP grew 3.5% in third quarter, ending a year-long string of declines and coming in better than forecasts.

A rebuilding of inventories by businesses that had slashed production and jobs over the past year was a major contributor to the growth in the third quarter. So was a rebound in auto sales, which were helped by the government's Cash for Clunkers program. The economic stimulus package, with public works projects and aid to state and federal governments, also boosted growth.

GDP up 3.5% in third quarter, topping expectations - Oct. 29, 2009
Click to expand...
 
VERY slowly improving...still take time and patience.
 
Hmmm, a near 10% unemployment and see a 3.5% increase in GDP? Where are the jobs? Remember, gross domestic product is the sum of three things: consumption by consumers, investment by business, and spending by government.

Was there any new consumption by consumers? No. If you're going to use the cash for clunker program it was a boondoggle since a study by Edmunds.com suggested that Cash for Clunkers mostly gave money to people who were going to buy a new car anyway. Cash for Clunkers Tab: $24,000 Per Vehicle of Taxpayer Cash - Auto Observer

Any new investments? Hardly. Remember, this is for June/July/August quarter. And in an recession, too.


Govt spending? Yes.

Now, if people are losing jobs left and right over the past months that means that there are much less disposable income, right? That is, money to spend by consumers.

From the looks of it the GDP "growth" is actually in the negative territory but better than the 2nd quarter results which was in the negative territory.
GDP Is..... Better Than Expected? - The Market Ticker

Pretty convenient to trot out this "growth" claim right before the elections next week. Be sure to look for a correction conveniently made after the election.
 
"Cash for Clunkers" was a one-time offer. That's not going to make a long-term positive change for the auto industry.
 
Reba said:
"Cash for Clunkers" was a one-time offer. That's not going to make a long-term positive change for the auto industry.
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50% we can help for them. 50% they need to help themselves.
 
Reba said:
"Cash for Clunkers" was a one-time offer. That's not going to make a long-term positive change for the auto industry.
Click to expand...

It wasn't intended as long term change. It was intended to set off a chain of events that cummulatively will result in long term change.
 
Right now, at least for me:
  • Working.....check! 48 hours a week
  • Stocks/401k.....increasing in value
  • My hopes....increasingly optomistic
If the tax rates increase, I will finally be paying income tax, something I have not done in a year. I would willingly pay more. If I don't keep working, I pay nothing. Let the naysayers have the floor. I am too busy to reply to them now, and glad of it!
 
Glad to hear it, kid! Things are looking up!:wave:
 
jillio said:
Glad to hear it, kid! Things are looking up!:wave:
Click to expand...

One of the benefits of working: my pants are already fitting looser. Was starting to test the tensile strength of cotton blended fabrics. :eek3:
 
Bring Good economy back!! :|
 
Reba said:
"Cash for Clunkers" was a one-time offer. That's not going to make a long-term positive change for the auto industry.
Click to expand...
Very true. Auto sales in September plunged because of Cash for Clunkers. It mostly just caused people to buy cars a bit earlier than they would have otherwise. But hey, at least they managed to destroy thousands upon thousands of perfectly good vehicles in the process. It should be obvious that destroying wealth isn't exactly wise economic policy, but apparently not to the geniuses in Congress.
 
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