Economy growing at fastest rate since '80s

[fjorner]

http://www.foxnews.com/story/0,2933,101680,00.html

Economy growing at fastest rate since '80s

Democrats: Um... yeah, the war in Iraq is bad! Everyone, look that way! Bad war!

 

[conjur]

It's an anomaly. No way the economy has recovered. They state big-ticket purchases of cars as to one reason why. Well, with 0% financing and thousands of rebates floating around, sure. Couple that with back-to-school time.

I dunno..I don't see any turnaround.

 

[Rob9874]

Near rock-bottom short-term interest rates, along with President Bush's third round of tax cuts, have helped the economy shift into a higher gear during the summer, economists say.

Now you're going to hear Dems rebutting the good news, and saying things like it doesn't mean anything until more jobs are formed. However...

The increase, which also reflected a big gain in business capital spending, outstripped forecasts on Wall Street, where most economists had looked for a rise closer to 6 percent.

Business capital spending = new jobs.

This is bad news for the Democratic candidates.

 

[PlatinumGold]

it doesn't matter what the analyst say, people go by what they see around them. if they, their friends, their relatives and their neighhbors are doing better than they will act as if there is a recovery, if not than they won't.

 

[SP33Demon]

2 of my good friends just got career jobs (college grads) after looking for the past 6-7 months... I'd say yes the recovery process has begun, however minimal.

 

[conjur]

Originally posted by: SP33Demon
2 of my good friends just got career jobs (college grads) after looking for the past 6-7 months... I'd say yes the recovery process has begun, however minimal.

I'd hardly call that signs of recovery. That's more indicative of the way it's been the last 2 years. I lost a job last July and it took me 7 mos. to get back into IT (a new job this past March.)

 

[RU482]

I know the company I work for has been in a rebound (sales figures) for the past 3-4 months. That's after seeing declines every month since Jan 01

 

[feralkid]

Democrats: Um... yeah, the war in Iraq is bad! Everyone, look that way! Bad war![/quote]




Please post, don't bait next time.

 

[MegaloManiaK]

Originally posted by: Rob9874

Near rock-bottom short-term interest rates, along with President Bush's third round of tax cuts, have helped the economy shift into a higher gear during the summer, economists say.

Now you're going to hear Dems rebutting the good news, and saying things like it doesn't mean anything until more jobs are formed. However...

The increase, which also reflected a big gain in business capital spending, outstripped forecasts on Wall Street, where most economists had looked for a rise closer to 6 percent.

Business capital spending = new jobs.

This is bad news for the Democratic candidates.

Not really bad news, everyone knows policy today effects life tomorrow, if they elect a dem candidate he/she will be in office when things take off and get the credit for it. Most people are so shortsighted that when things pickup/slow down they don't realize it has little or nothing to do with the current administration.

 

[GroundZero]

Originally posted by: Rob9874

Near rock-bottom short-term interest rates, along with President Bush's third round of tax cuts, have helped the economy shift into a higher gear during the summer, economists say.

Now you're going to hear Dems rebutting the good news, and saying things like it doesn't mean anything until more jobs are formed. However...

The increase, which also reflected a big gain in business capital spending, outstripped forecasts on Wall Street, where most economists had looked for a rise closer to 6 percent.

Business capital spending = new jobs.

This is bad news for the Democratic candidates.

i smell a bush rat
look at the source of this "info", fox...
they are in bed with this lying administration

 

[shiner]

Please direct your attention to this thread for a much more meaningful discussion of this topic.

 

[Rob9874]

Originally posted by: GroundZero

Originally posted by: Rob9874

Near rock-bottom short-term interest rates, along with President Bush's third round of tax cuts, have helped the economy shift into a higher gear during the summer, economists say.

Now you're going to hear Dems rebutting the good news, and saying things like it doesn't mean anything until more jobs are formed. However...

The increase, which also reflected a big gain in business capital spending, outstripped forecasts on Wall Street, where most economists had looked for a rise closer to 6 percent.

Business capital spending = new jobs.

This is bad news for the Democratic candidates.

i smell a bush rat
look at the source of this "info", fox...
they are in bed with this lying administration

I didn't quote the Fox article. It's an AP article: http://apnews.myway.com/article/20031030/D7UGHGD02.html. I think it's funny, however, that Republicans have been screaming for years that the media had a liberal bias, to which Liberals said was hogwash. Now that Fox is blatantly conservative, Democrats are crying foul.

 

[shiner]

Originally posted by: GroundZero

Originally posted by: Rob9874

Near rock-bottom short-term interest rates, along with President Bush's third round of tax cuts, have helped the economy shift into a higher gear during the summer, economists say.

Now you're going to hear Dems rebutting the good news, and saying things like it doesn't mean anything until more jobs are formed. However...

The increase, which also reflected a big gain in business capital spending, outstripped forecasts on Wall Street, where most economists had looked for a rise closer to 6 percent.

Business capital spending = new jobs.

This is bad news for the Democratic candidates.

i smell a bush rat
look at the source of this "info", fox...
they are in bed with this lying administration

Ooooook.

How about

Here

Here

Here

or

Here

 

[SuperTool]

The question is where are these jobs going to be created.

 

[Nitemare]

Front page of cnn.com too.

Now if consumer confidence would stop being so pessimistic, maybe we could end this recession already

 

[Ulfwald]

When will you liberals wake up.

When taxes are high (Bill Clinton), that is like punishing businesses for being succesful.

When taxes are low (Dubya), businesses have more money to invest in the business, once business picks up and profits are up, then business hires more people.

Simple economics, the money has to be there to hire people, so unemployment is always the last to recover in a growing economy.



Democrats always look for ways to tax the heck out of the "evil rich" and redistribute it to the "needy" It is more like take from the motivated and successful and give to the people who think the way to get ahead in life is just working a 40 hour week.

 

[ITJunkie]

Originally posted by: conjur
It's an anomaly. No way the economy has recovered. They state big-ticket purchases of cars as to one reason why. Well, with 0% financing and thousands of rebates floating around, sure. Couple that with back-to-school time.

I dunno..I don't see any turnaround.

I totally agree. You can take any number and put a positive spin on it. If you look at the whole picture the story is quite different. We still have unemployment rates over 6.5% (I think) here in the Pac NW.

 

[shiner]

Originally posted by: ITJunkie

Originally posted by: conjur
It's an anomaly. No way the economy has recovered. They state big-ticket purchases of cars as to one reason why. Well, with 0% financing and thousands of rebates floating around, sure. Couple that with back-to-school time.

I dunno..I don't see any turnaround.

I totally agree. You can take any number and put a positive spin on it. If you look at the whole picture the story is quite different. We still have unemployment rates over 6.5% (I think) here in the Pac NW.

6.5% is nothing.

 

[rjain]

6.5% is a normal unemployment rate. Look at the 80s when it was over 10%.

Edit: Washington, Oregon, Alaska, and Michigan are where unemployment rates are worst. In Washington, however, the rates (7.5%) are at the low range of the historical values since 1978. In early 80s in Washington, it was 12.5%. In the early 90s, it was over 7.5%.

 

[Lucky]

Originally posted by: PlatinumGold
it doesn't matter what the analyst say, people go by what they see around them. if they, their friends, their relatives and their neighhbors are doing better than they will act as if there is a recovery, if not than they won't.

people go by what they hear on the tube, which is liberal media showing democratic candidates repeatedly saying how much bush sucks and how the economy sucks and how billions of people cant find jobs because of bush's economic plan.

The worst of this is by far over. I remember when I graduated college, about December 2001, the economy was absolutely horrendous. Jobs in my industry where nowhere to be found. Job boards were collecting dust. My friends who did have jobs were getting pay freezes and capital spending cuts at work. It's gradually picked up and now I see new jobs posted every day. My friend's companies are starting to buy new capital equipment.

 

[fjorner]

Originally posted by: rjain
6.5% is a normal unemployment rate. Look at the 80s when it was over 10%.

How true. 6.5% sustained unemployment... that's a phenomenal rate in the history of civilization, not just our country.

Regardless of the political spin, which is my fault for starting this thread, I think that Democrats and Republicans can be happy that yes indeed, the economy is recovering and growing and jobs are being created and so forth.

People that are NOT happy to see this turnaround are suffering from political polarization, and need to wake up a bit. Same for people that only see this as damaging to democratic candidates. This is GOOD.

 

[rjain]

Well, it IS damaging to Democratic candidates, because it makes Bush look good, which makes investors happy (because none of the Democratic candidates we have right now will make anything good happen to the economy), which makes the stock market go up, which makes Bush look better.

 

[bigdog1218]

Originally posted by: Ulfwald
When will you liberals wake up.

When taxes are high (Bill Clinton), that is like punishing businesses for being succesful.

When taxes are low (Dubya), businesses have more money to invest in the business, once business picks up and profits are up, then business hires more people.

Simple economics, the money has to be there to hire people, so unemployment is always the last to recover in a growing economy.



Democrats always look for ways to tax the heck out of the "evil rich" and redistribute it to the "needy" It is more like take from the motivated and successful and give to the people who think the way to get ahead in life is just working a 40 hour week.

Yes because we all remember the dreadful 90's, when the economy was doing horrible and no one made money. This is just a hiccup, I don't think so much news was ever made over one quarter of growth. This just shows how desperate Republicans are for good news. The Republicans on this board have ignored the economy for the past 2 years, because we had a very important war on terrorism to fight, but now that there's some economic good news its the most important thing ever.

Anyway, if no one has noticed, the stock market has been flying since March, the Nasdaq is up about 55%, way to high, and way to fast. Why is this important, because when these stocks come back down to earth, like they should, this great news from the article,

Especially encouraging was the 15.4 percent growth rate in spending by businesses on equipment and software in the third quarter

will also come down to bite us in the ass. These companies have already started spending at blistering rates without even erasing the debt and inventories that got us in this mess. We have hit a peak, everything will come back down, this isn't the awe inspiring news you are trying to make it out to be. Bush's tax cuts just caused people to spend out of their means once again, people and companies haven't reduced their debt, which is the long term problem. I can't believe people are actually happy the economy is growing this fast, did everyone forget the late 90's already?

 

[rjain]

One of the concerns right now is that companies aren't increasing their debt. At such historically low rates, they should be leveraging whatever they can if they have something to spend on.

 

[bigdog1218]

Originally posted by: rjain
One of the concerns right now is that companies aren't increasing their debt. At such historically low rates, they should be leveraging whatever they can if they have something to spend on.

Interest rates have been low for 2 years now, companies have had their chance to increase inventories at low rate. This recent event is overspending. Did you read the article, companies are still heavily getting rid of inventory they created years ago, along with the debt these inventories created. How are these companies going to grow if they aren't actually creating new products.

Growth isn't a bad thing, growing too quickly by the wrong means is.