Recovery not as strong as previously thought

Discussion in 'Politics' started by carpro, Dec 22, 2009.

  1. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,896
    Likes Received:
    294
    http://apnews.myway.com/article/20091222/D9COD2OG0.html

    Recovery not as strong as previously thought


    Dec 22, 9:02 AM (ET)
    By JEANNINE AVERSA

    WASHINGTON (AP) - The economy grew at a 2.2 percent pace in the third quarter, as the recovery got off to a weaker start than previously thought. However, all signs suggest the economy will end the year on stronger footing.

    The Commerce Department's new reading on gross domestic product for the July-to-September quarter was slower than the 2.8 percent growth rate estimated just a month ago. Economists were predicting that figure wouldn't be revised in the government's final estimate on third-quarter GDP.

    The main factors behind the downgrade: consumers didn't spend as much, commercial construction was weaker, business investment in equipment and software was a bit softer and companies cut back more on inventories, according to Tuesday's report.
     
  2. Magnetic Poles

    Magnetic Poles
    Expand Collapse
    New Member

    Joined:
    May 16, 2005
    Messages:
    10,407
    Likes Received:
    0
    Only a true pessimist could take that opening paragraph:

    The economy grew at a 2.2 percent pace in the third quarter, as the recovery got off to a weaker start than previously thought. However, all signs suggest the economy will end the year on stronger footing.

    ...and get such a gloomy thread title. Not "Economy grew at 2.2 percent" or "signs suggest the economy will end the year stronger"...but "Recovery not as strong as previously thought". :BangHead:
     
  3. donnA

    donnA
    Expand Collapse
    New Member

    Joined:
    Aug 10, 2000
    Messages:
    23,354
    Likes Received:
    0
    no recovery in sight here, people still losing jobs, no jobs to be found, no one hiring, most place laying off, the employment office recently told people don't beleive rumors of a recovery, as they can see themselves unemployment is still rising, rapidly, jobs will be the first sign of recovery, prices still on the rise, a lot of food items are out of reach now for most people.
     
  4. Magnetic Poles

    Magnetic Poles
    Expand Collapse
    New Member

    Joined:
    May 16, 2005
    Messages:
    10,407
    Likes Received:
    0
    Actually, jobs are one of the last signs of a recovery. Employers are reticent to hire until they are sure demand is rising and stable. They get by with overtime, then temp workers, and finally start to hire once things are looking up.
     
  5. Paul3144

    Paul3144
    Expand Collapse
    Active Member

    Joined:
    May 29, 2009
    Messages:
    2,378
    Likes Received:
    0
    That's not too bad. We'll get through this. I personally am feeling the effects of the downturn because I lost my job when the company I worked for shut down. Because of that, I didn't have enough money to take a full class load this past semester. Fortunately, I had some savings and my family is helping me out. I've been working for a temp agency but work has been sporadic. Hopefully I'll find another job soon.
     
  6. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    I would not be surprised in the least to see a double dip recession.
     
  7. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,896
    Likes Received:
    294

    Probably. And here's why...

    Instead they're working to pass healthcare legislation that will further burden small businesses.

    Obama simply has no understanding of what drives jobs growth and therefore the economy.
     
  8. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    Does anyone believe that the economy grew 2.2% in one quarter?
     
  9. saturneptune

    saturneptune
    Expand Collapse
    Banned

    Joined:
    Jan 16, 2006
    Messages:
    13,977
    Likes Received:
    0
    And what caused it to grow? Was it an improving economy, with employment increasing, and citizens buying more goods? Uh, lets see, No. The growth was from government money that was printed out of thin air. It has no substance. For the millions out of work, over 10% (and we all know it is more like 17%), how much comfort does your 2.2% give those families? Lets think about that. Lets see, None.

    Really, I think you should send thank-you notes to your heros Presidents George Bush and Barack Obama for shoving two stimulus packages down our throats, totalling 2 trillion. Wow, that works out to one trillion for one percent.
     
  10. poncho

    poncho
    Expand Collapse
    Banned

    Joined:
    Mar 30, 2004
    Messages:
    19,657
    Likes Received:
    128
    Won't be long and we'll be able to use our fiat Federal Reserve notes to wallpaper our cardboard shacks. That is if we are allowed to live in cardboard shacks.

    But look at the bright side SN soon as those are FRNs are defunct we'll get a shiney new "global fiat currency". See, there's a silver lining in every cloud after all.
     
  11. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    That is what I am afraid of. The dollar is weak and the market iffy. Inflation will be used to lessen the debt and peoples savings will be worth less, possibly even worthless.
     
  12. poncho

    poncho
    Expand Collapse
    Banned

    Joined:
    Mar 30, 2004
    Messages:
    19,657
    Likes Received:
    128
    Your looking at it the work way OR. This is a good thing. If you're part of the global financial elite. The ongoing transfer of wealth is grrrrrrrrrrreat! What comes out of our pockets goes directly into their's.

    Must be wonderful knowing that the whole wealth of the USA is about to line your pockets.

    Don't be so gloomy. This is a good day. If you're part of the global financial elite!
     

Share This Page

Loading...