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Economy heats up in Q2 after harsh winter, up 4%

It is good news. Overall growth is anemic, but perhaps will be revised up as more detailed data comes in
 
I know this is anecdotal, but we had a pretty good year last year and we've been absolutely slammed all year. If AEC engineers are covered up then people are building and remodeling, and that indicates that companies have rising demand and/or faith that rising demand is reasonably certain. One generally doesn't spend five or ten or twenty million dollars to continue treading water.

If Obama and Congress don't do anything monumentally stupid, I think the economy will continue improving this year. That's not normally what I'd call a smart bet, but they tend to cancel each other's more stupid ideas and it IS an election year so maybe we have a chance. In any case, this is good news and hopefully we're finally getting a real recovery rather than merely seeing last quarter's activity this quarter.
 
This is a good result, but as a point of note something like 1.6% of it came from increasing inventories, which isn't real economic growth. (inventories eventually need to be sold and you can't build them up forever). That being said, last quarter had abnormally low inventory numbers along with other weather factors which strongly negatively impacted growth.

To me, when you average out last quarter and this quarter and remove inventory and weather effects you get the picture of the economy growing at a decent, but not great pace.
 
Let's see what the employment trends are over the next few months. If the figures show more full time, non minimum wage jobs being created, we're finally on a positive track.
 
Sonikku said:
For once, I can't blame Obama.
Click to expand...

Yep, economy starting to expand now that we're no longer pursuing Obama policies like "stimulus," wasteful consumer spending giveaways like Cash for Clunkers, losing money in speculative investment schemes like Solyndra, and letting people take 99 weeks of unemployment. Might almost make you wonder if the economic performance was related to that.
 
I shudder when I think where our economy would be under a Republican. It is nice to have Democratic presidents and their economic boons to offset the shredding that occurs under Republican administrations.
 
glenn1 said:
Yep, economy starting to expand now that we're no longer pursuing Obama policies like "stimulus," wasteful consumer spending giveaways like Cash for Clunkers, losing money in speculative investment schemes like Solyndra, and letting people take 99 weeks of unemployment. Might almost make you wonder if the economic performance was related to that.
Click to expand...

http://www.nytimes.com/2014/07/30/u...-stimulus-lifted-the-economy.html?rref=upshot

Feel free to provide even a shred of evidence for your ideas as to what lifted the economy though.
 
glenn1 said:
Yep, economy starting to expand now that we're no longer pursuing Obama policies like "stimulus," wasteful consumer spending giveaways like Cash for Clunkers, losing money in speculative investment schemes like Solyndra, and letting people take 99 weeks of unemployment. Might almost make you wonder if the economic performance was related to that.
Click to expand...

Oh yeah, sure. Funny how it was collapsing before Obama came and implemented those policies. You'd think it would be expanding in 2008 without them.
 
dphantom said:
Not Bush?? Oh right, everything wrong is Bush, everything right is Obama. 😛
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Aw, we aren't out right bashing the President with contradictory/hypocritical false "issues",..

Ok, Ok, let me give you some legit beef I have the Barry:
- no universal healthcare,.. fuck ACA, I want free healthcare like the rest of the 1st world countries.
- Syria. No fucking way. Not secret help. Not official help. NO help. At all. Any. Ever. Let them figure it out.
- Not slinging executive orders much earlier,.. and a lot more frankly.
- Ukraine, fuck them. Don't utter a word. We don't have any interests in that shit hole, let it fester to it's rotten heart's content.

See, even one of his mindless drones (that would be me) doesn't like every single thing he does!
 
Newell Steamer said:
Aw, we aren't out right bashing the President with contradictory/hypocritical false "issues",..

Ok, Ok, let me give you some legit beef I have the Barry:
- no universal healthcare,.. fuck ACA, I want free healthcare like the rest of the 1st world countries.
- Syria. No fucking way. Not secret help. Not official help. NO help. At all. Any. Ever. Let them figure it out.
- Not slinging executive orders much earlier,.. and a lot more frankly.
- Ukraine, fuck them. Don't utter a word. We don't have any interests in that shit hole, let it fester to it's rotten heart's content.

See, even one of his mindless drones (that would be me) doesn't like every single thing he does!
Click to expand...

Agreed across the board.
 
glenn1 said:
Yep, economy starting to expand now that we're no longer pursuing Obama policies like "stimulus," wasteful consumer spending giveaways like Cash for Clunkers, losing money in speculative investment schemes like Solyndra, and letting people take 99 weeks of unemployment. Might almost make you wonder if the economic performance was related to that.
Click to expand...

Well to be fair, stimulus is not an Obama original idea. Many presidents have tried it. In fact Bush even did some before he left too. I don't think its fair to say its an Obama policy when far more have done it as well. Even Solyndra was started by Bush, it just ended under Obama.
 
eskimospy said:
http://www.nytimes.com/2014/07/30/u...-stimulus-lifted-the-economy.html?rref=upshot

Feel free to provide even a shred of evidence for your ideas as to what lifted the economy though.
Click to expand...
Lot of similarity between economics and climate science. Well, no, it didn't do what we said it would do. But we're still right, because without it things would be even worse. And we have consensus.

senseamp said:
Oh yeah, sure. Funny how it was collapsing before Obama came and implemented those policies. You'd think it would be expanding in 2008 without them.
Click to expand...
Odd that Obama alone saved us from the recession and yet ever other post-war recession, all of which were minus the Big O, had much better, much quicker, and much more robust recoveries.
 
werepossum said:
Lot of similarity between economics and climate science. Well, no, it didn't do what we said it would do. But we're still right, because without it things would be even worse. And we have consensus.


Odd that Obama alone saved us from the recession and yet ever other post-war recession, all of which were minus the Big O, had much better, much quicker, and much more robust recoveries.
Click to expand...

Yes because every other recovery heavily relied on increases in government employment and government spending.

Not a fucking honest bone in you!
 
werepossum said:
Lot of similarity between economics and climate science. Well, no, it didn't do what we said it would do. But we're still right, because without it things would be even worse. And we have consensus.
Click to expand...

Who is we? I get the sense you don't understand what you're talking about but please, go ahead.

Odd that Obama alone saved us from the recession and yet ever other post-war recession, all of which were minus the Big O, had much better, much quicker, and much more robust recoveries.
Click to expand...

Ahh, the usual werepossum 1-2 punch. A straw man combined with an ignorant statement.

The US has outperformed other advanced economies in this recession. As to why this may differ from others, I would suggest some reading:https://www.imf.org/external/np/seminars/eng/2012/fincrises/pdf/ch8.pdf

Then again, you just declared economists part of the ever-expanding conspiracy, so this is probably all just an elaborate trick to help the Democrats.
 
werepossum said:
Lot of similarity between economics and climate science. Well, no, it didn't do what we said it would do. But we're still right, because without it things would be even worse. And we have consensus.


Odd that Obama alone saved us from the recession and yet ever other post-war recession, all of which were minus the Big O, had much better, much quicker, and much more robust recoveries.
Click to expand...

Odd how no post-war recession was as big as the one Bush got us into without Big O, after telling us how his tax cuts were going to stimulate the economy. Nothing odd about taking longer to recover from a bigger recession.
 
eskimospy said:
Who is we? I get the sense you don't understand what you're talking about but please, go ahead.



Ahh, the usual werepossum 1-2 punch. A straw man combined with an ignorant statement.

The US has outperformed other advanced economies in this recession. As to why this may differ from others, I would suggest some reading:https://www.imf.org/external/np/seminars/eng/2012/fincrises/pdf/ch8.pdf

Then again, you just declared economists part of the ever-expanding conspiracy, so this is probably all just an elaborate trick to help the Democrats.
Click to expand...

And was the US economy outperforming or underperforming other advanced economies before the recession?
 
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