GDP growth to hit 20-year high.
- Thread starter heartsurgeon
- Start date
zephyrprime
Diamond Member
- Feb 18, 2001
- 7,512
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Yes, Heart. It would have been a little more stylish to label it as a prediction. Frankly, I hope the prediction comes true, even though it will probably mean reelecting a guy who will never get hemorrhoids because he's a perfect A$$hole. I happen to think that the U.S. has serious, serious structural problems but I look forward to seeing if the economy can be pumped up to make it look good for the next election. After all, that's what we did in California when we elected Gov. Davis.
Whoa, I take it back. Unless the subject was edited (which I doubt) it does say "to hit high." Heart 1, Wit 0. (Ultra keeps score.)
% of total dollar gdp. This is really not a figure that works out in dollars.
4% growth today would dwarf 4% growth 20 years.
This was the acceleration of the recovery of the 80's. You'll find lots of reasons. The US finally came out of the oil embargo years and the stifling effects of the wage and price control experiements of the 70's. Of course, Reaganomics gets a nod from the Republican side. US industry was starting to see the first results of the changes in management in response to the Asian challenges of the 70's. When interest rates finally started to drop it all came together and the economy started to take off.
"Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 8.2 percent in the third quarter of 2003, according to preliminary estimates released by the Bureau of Economic Analysis."
Good news, for sure.
Moreover, the 3.3% Q2 figures were driven, in large part, by an exorbitant increase in government defense expenditures; for Q3, however, defense spending decreased, while at the same time GDP increased?makes the ?this is not real growth, just big defense spending growth? argument moot.
Actually, inflation is quite meaningful. It indicates that demand for products is outstripping the ability to increase supply for them. In that case, we need to encourage more investment and less spending on finished products.
No Virge, the AT Expert Economists swear by these things. The Country has been doing Fantastic since November 2001, where have you been?
CADsortaGUY
Lifer
Time to roll back the tax cuts and get into fiscally responsible mode. We got stimulus kicking in till 2010 for a recession that ended in 2003.
Dave, your foam is all over the floor. The emergence from recession is based on real GDP, anyway. (not like there's much of a difference during a recession, unless there is some major damage done to our mining and agricultural infrastructure.)
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