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US 3rd quarter GDP up more than expected

But unemployement is 5.4%, deficit is 410 billion, and we didnt elect Kerry!

I thought we were all on the way to destruction!
 
yet consumer confidence falls for the 4th straight month, 90.5 versus wall st expecting a 96. amazing that with 4% GDP growth we're still at $426 billion/year deficits. this would imply we need to achieve about 6% GDP growth to sustain congress's cotton subsidy.

so can we increase our GDP by 50%? i doubt it, and if we did it simply would not be sustainable. the alternative would be to cut goverment spending by almost 20% (actually 17%), but that too would kill our strongly weak economy

leave no billionaire behind
 
Originally posted by: ReiAyanami
yet consumer confidence falls for the 4th straight month, 90.5 versus wall st expecting a 96. amazing that with 4% GDP growth we're still at $426 billion/year deficits. this would imply we need to achieve about 6% GDP growth to sustain congress's cotton subsidy.

so can we increase our GDP by 50%? i doubt it, and if we did it simply would not be sustainable. the alternative would be to cut goverment spending by almost 20% (actually 17%), but that too would kill our strongly weak economy

leave no billionaire behind
Click to expand...
Well, if the dollar is at record lows all around, American products are cheap which boosts exports. Trouble is, we're still importing more than we're exporting at record levels and workers' salaries here aren't keeping up with inflation, much less with corporate profits.
 

A funny thing about US GDP. Since a lot of value is added to imports when they reach the shores of the US this value is added to the US GDP as growth.

A $2 dollar toy imported from a US owned factory in China is a $3 dollar shipment that retails for $10 in the toy store (Wal Mart). This transaction adds $7 dollars of growth to the US GDP.

How much growth is added this way to the US GDP from imports?

This is why the trade deficit is good for the US. China gets paid $1 dollar for the toy that retails for $10 in the US. There is simply no way China can make up for that difference. Not even by unpegging the Yuan.

The US stock market, which measures companies global effectivness, likes outsourcing since it increases the effectiveness of the company that outsources (by reducing costs in the company's US operations i.e. getting rid of an expensive work force and substituting it overseas for a workforce that will work for a fraction of that cost). This makes stocks go up. And stockholders happy happy.

So US growth is being paid for by those people who have doing blue collar jobs instead of thinking white collar jobs. The US wants to keep white collar jobs and export blue collar jobs. That is, those in charge of the US economy want to do that. Maybe those laid off do not?

Dell, the US brand (right?), only acts as an assembler of parts made overseas (China, Thailand, Hungary what have you). But since value is added to the product the closer it gets to the consumer Dell (and the US GDP) profits hugely by assembling and selling the finished product in the US (or in a country close to the end consumer: Ireland for Europe etc.)



 
Originally posted by: CycloWizard
Originally posted by: Strk
Manufacturing and nongovernmental jobs, please.
Click to expand...
Manufacturing jobs went the way of agricultural jobs. I suggest you get over it.
Click to expand...

Really, what's up with these people??? 😕

All land is being converted to subdivisions being built by our southern citizens that don't pay taxes and we don't make anything anymore, we import everything. Sheez get with the program folks.
 
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