U.S. Economy Grows At Faster Pace Than Estimated

[Psychoblues]

Source: CNNMoney.com
by: Hibah Yousuf

NEW YORK (CNNMoney.com) -- The U.S. economy grew at a slightly faster pace during the third quarter than previously estimated, driven by an increase in business investment, the government said Wednesday.

Gross domestic product, the broadest measure of the nation's economic activity, grew at an annual rate of 2.6% in the three months ended in September, according to the Commerce Department, up from the previous reading of a 2.5% rise.

Economists expected the third reading of third quarter GDP, which is a measure of goods and services produced in the United States, to tick up to 2.7%, according to a consensus of economist opinion from Briefing.com.

The government calculates GDP as a measure of goods and services produced in the United States. The number is often revised multiple times. This is the final reading for the quarter........................................... .........................

Much more with more links and graphs and charts: http://money.cnn.com/2010/12/22/news/economy/gdp/?iid=MPM

We'll get completely out this recession sooner than forecast. This is GREAT news.

Happy Christmas and Merry New Year!!!!!!!!

Psychoblues

[fj1200]

Kind of coincided with extending the Bush tax cuts didn't it? Weird.

Too bad we wasted the last year or two with a jobless recovery.

[Psychoblues]

Kind of coincided with extending the Bush tax cuts didn't it? Weird.

Too bad we wasted the last year or two with a jobless recovery.

:lol: :lol: :lol:

You just can't talk sense to a Christmas turkey.

gobble gobble gobble

:laugh2::laugh2::laugh2:

Happy Christmas and a Merry New Year

[Missileman]

Source: CNNMoney.com
by: Hibah Yousuf

NEW YORK (CNNMoney.com) -- The U.S. economy grew at a slightly faster pace during the third quarter than previously estimated, driven by an increase in business investment, the government said Wednesday.

Gross domestic product, the broadest measure of the nation's economic activity, grew at an annual rate of 2.6% in the three months ended in September, according to the Commerce Department, up from the previous reading of a 2.5% rise.

Economists expected the third reading of third quarter GDP, which is a measure of goods and services produced in the United States, to tick up to 2.7%, according to a consensus of economist opinion from Briefing.com.

The government calculates GDP as a measure of goods and services produced in the United States. The number is often revised multiple times. This is the final reading for the quarter........................................... .........................

Much more with more links and graphs and charts: http://money.cnn.com/2010/12/22/news/economy/gdp/?iid=MPM

We'll get completely out this recession sooner than forecast. This is GREAT news.

Happy Christmas and Merry New Year!!!!!!!!

Psychoblues

It's Twue...it's Twue! The economy is recovering despite the asshats in DC.

[Psychoblues]

It's Twue...it's Twue! The economy is recovering despite the asshats in DC.

I think it's because of the stimulus, the auto business loans, the bank loans and even the gwb inspired TARP involvement in the mortgage industries. We certainly didn't need to be making all those millionaires and embellishing all those billionaires but that's what happens when you have that much money up for grabs. I even got me a little taste of it!!!!!!!

I read a piece earlier today about the Christmas sales being enormously upbeat in the last week or so. That, my friend, is fantastic news!!!!!!

Happy Christmas and Merry New Year!!!!!!!!!!

Psychoblues

[fj1200]

You just can't talk sense to a Christmas turkey.

What sense would that be? Did you miss this part of your article?


driven by an increase in business investment

What drives business investment? Maybe tax rates... which might have something to do with the expectation of a small government crowd coming into office.

[Trigg]

I hope the recovery continues beyond Christmas.

It's been a hell of a few years and I'm sure people spent more this Christmas because they've grown tired of saving through the previous 2 Christmases.

Personally I think the stimulus and auto loans were a waste of money, but if they worked than thank goodness, we need to end this recession. It's gone on to long.

[Psychoblues]

What sense would that be? Did you miss this part of your article?



What drives business investment? Maybe tax rates... which might have something to do with the expectation of a small government crowd coming into office.

And this articls is written about a quarter that ended in September, 2010. What was the outlook then?

Sheesh. What a Christmas Turkey!!!!!!

Merry New Year!!!!!!!

Psychoblues

[red states rule]

http://media.trb.com/media/photo/2010-11/57452028.jpg

[fj1200]

And this articls is written about a quarter that ended in September, 2010. What was the outlook then?

That the Dems were going to get their asses handed to them in November.

Sheesh.

[darin]

I think it's because of the stimulus, the auto business loans, the bank loans and even the gwb inspired TARP involvement in the mortgage industries.

...you're aware the mortgage "crisis" was caused directly by government, and hugely democrat/liberal, policies right? You understand when Liberals preached "It's a RIGHT to own a home" and pressured industry to take Risky loans - that's what caused this mess, right? just checking.

[Psychoblues]

...you're aware the mortgage "crisis" was caused directly by government, and hugely democrat/liberal, policies right? You understand when Liberals preached "It's a RIGHT to own a home" and pressured industry to take Risky loans - that's what caused this mess, right? just checking.

I believe you are mistaken, dmp. The mortgage crises were caused by de-regulation, the over riding mantra of the conservatives.

Psychoblues

[logroller]

...you're aware the mortgage "crisis" was caused directly by government, and hugely democrat/liberal, policies right? You understand when Liberals preached "It's a RIGHT to own a home" and pressured industry to take Risky loans - that's what caused this mess, right? just checking.

Greed and fraud led to the mortgage crisis. What liberal policies pressured risky loans anyway? If I was to pick one thing which allowed this to happen, it was Clinton's repeal of the Glass–Steagall Act; in effect, a deregulation of the banking industry. The Fed played a role in facilitating sub-prime lending, which you could construe as "pressured", but industry committed the acts. Furthermore, the Federal Reserve Bank, a privately owned lending institution, loans are subject to approval by the US Treasury Dept, an executively controlled department. So if the buck stops anywhere--its with the President. Obama takes the blame for lending policies, GWB sure didn't. Maybe he does in his autobiography (anybody read it yet?)--but he didn't while in office.

BTW, it is a right to own property- you just have to pay for it.

[darin]

I believe you are mistaken, dmp. The mortgage crises were caused by de-regulation, the over riding mantra of the conservatives.

Psychoblues

(sigh) Do some googling about Freddie Mac and Fanny Mae. These Government agencies pushed banks to make risky loans (that is to say, they encouraged/demanded banks loan to people who were at high risk to not-pay).

Root cause - People over-buying what they could afford.
Secondary cause - Lawmakers pushing the bad loans because they wanted to claim "victory" in their base by showing how home-ownership had increased.

This'll essplayn things


http://www.youtube.com/watch?v=cMnSp4qEXNM

[fj1200]

I believe you are mistaken, dmp. The mortgage crises were caused by de-regulation, the over riding mantra of the conservatives.

Those crazy deregulating conservatives of Clinton, Rubin, Summers, et al?

[fj1200]

Greed and fraud led to the mortgage crisis. What liberal policies pressured risky loans anyway? If I was to pick one thing which allowed this to happen, it was Clinton's repeal of the Glass–Steagall Act; in effect, a deregulation of the banking industry. The Fed played a role in facilitating sub-prime lending, which you could construe as "pressured", but industry committed the acts. Furthermore, the Federal Reserve Bank, a privately owned lending institution, loans are subject to approval by the US Treasury Dept, an executively controlled department. So if the buck stops anywhere--its with the President. Obama takes the blame for lending policies, GWB sure didn't. Maybe he does in his autobiography (anybody read it yet?)--but he didn't while in office.

BTW, it is a right to own property- you just have to pay for it.

Interesting, you make it sound like the Fed is NOT a government created entity answerable to Congress and having governors appointed by the POTUS with Senate approval. Also, it seems you missed the attempts by the GWB administration to regulate Fannie and Freddie, the howling on the left was quite loud. Besides, the market rebounded quite nicely before the financial markets were RE-regulated, but we've had that discussion haven't we. ;)

[NightTrain]

Those crazy deregulating conservatives of Clinton, Rubin, Summers, et al?

Don't forget the lovable Barney Frank!

[fj1200]

Don't forget the lovable Barney Frank!

Barney voted nay.

[Psychoblues]

dmp, it is widely accepted by liberals and conservatives alike that de-regulation brought about the risky lending that created the crises. House and Senate testimony repeatedly revealed tactics used by unscrupulous lenders to talk people into loans they could not afford enticed with cash that they desparately needed. The original lenders then sold bundles to unsuspecting foreign interests and diplomatic unrest (to say the least) was about to bust wide open on us. There are several books written on this very subject so I won't bore you with many details or question your taste at this time in non fiction literature.

If it makes you feel any better at all I will say that the most of the deregulation that destroyed the housing industry as well as the mortgage industry was done under the Clinton administration.

Psychoblues

[fj1200]

dmp, it is widely accepted by liberals and conservatives alike...

You said that so it MUST be true. :rolleyes:

[Psychoblues]

You said that so it MUST be true. :rolleyes:

I can only suppose that you have something to dispute or you're just here asking for a diaper change. :rolleyes:

Psychoblues

[red states rule]

I believe you are mistaken, dmp. The mortgage crises were caused by de-regulation, the over riding mantra of the conservatives.

Psychoblues

Dems said their was no problem. Only racist Republicans who did not want minorites to own a home

<iframe title="YouTube video player" class="youtube-player" type="text/html" width="480" height="390" src="http://www.youtube.com/embed/_MGT_cSi7Rs" frameborder="0"></iframe>

[red states rule]

Don't forget the lovable Barney Frank!

<iframe title="YouTube video player" class="youtube-player" type="text/html" width="480" height="390" src="http://www.youtube.com/embed/63siCHvuGFg" frameborder="0"></iframe>

[fj1200]

I can only suppose that you have something to dispute or you're just here asking for a diaper change. :rolleyes:

You may need one given the amount of S' you spew. However, I was just pointing out another of your unsupported points. But you may have a point, if I continue to do that my post count will approach RSR's and you will probably continue to make those sorts of statements.

[Psychoblues]

You may need one given the amount of S' you spew. However, I was just pointing out another of your unsupported points. But you may have a point, if I continue to do that my post count will approach RSR's and you will probably continue to make those sorts of statements.

Before US de-regulation risky lending was rare. Post US de-regulation it grew exponentially and left the economies of the most of the world in dire straits. You haave a tough time in the thinking department, don't you?

You gonna keep that up whining, crying and stamping your feet or does baby need a little extra attention?

Psychoblues

[KarlMarx]

I believe you are mistaken, dmp. The mortgage crises were caused by de-regulation, the over riding mantra of the conservatives.

Psychoblues

DEREGULATION??!?!?!??!?!? What, then, is the purpose The House Financial Services Committeeand the Senate Banking Committee?

I can tell you one purpose that the HFSC serves.. .it was a dating service for Barney Frank who slept with an executive who worked at Fannie Mae.. a conflict of interest that would, for other persons, cost them their job and resulted in civil fines, at least.

This is the fallacy of those who think we need more government regulation... who is watching the regulators? If the HFSC and SBC had done their jobs there never would have been a subprime mortgage crisis...

What is sorely needed is enforcement of already existing law...

What I'd like to see is an impeachment Barny Frank for high crimes and misdemeanors... put him in a pound me in the ass prison... no, wait, he'd enjoy that... put him in a convent full of nuns for the rest of his sorry life. Of course, it would be a nasty thing to have to do to a bunch of nuns.

[Psychoblues]

DEREGULATION??!?!?!??!?!? What, then, is the purpose The House Financial Services Committeeand the Senate Banking Committee?

I can tell you one purpose that the HFSC serves.. .it was a dating service for Barney Frank who slept with an executive who worked at Fannie Mae.. a conflict of interest that would, for other persons, cost them their job and resulted in civil fines, at least.

This is the fallacy of those who think we need more government regulation... who is watching the regulators? If the HFSC and SBC had done their jobs there never would have been a subprime mortgage crisis...

What is sorely needed is enforcement of already existing law...

What I'd like to see is an impeachment Barny Frank for high crimes and misdemeanors... put him in a pound me in the ass prison... no, wait, he'd enjoy that... put him in a convent full of nuns for the rest of his sorry life. Of course, it would be a nasty thing to have to do to a bunch of nuns.


:laugh2: :lol: :lol: :laugh2:

Psychoblues

[fj1200]

Before US de-regulation risky lending was rare. Post US de-regulation it grew exponentially and left the economies of the most of the world in dire straits. You haave a tough time in the thinking department, don't you?

Certainly not as much as you have with causation/correlation. You should try and think :laugh: a little further than your talking points.

[Psychoblues]

Certainly not as much as you have with causation/correlation. You should try and think :laugh: a little further than your talking points.

Talking points? I don't use talking points, you gobble gobble turkey!!!!!

Psychoblues

[logroller]

What I'd like to see is an impeachment Barny Frank for high crimes and misdemeanors... put him in a pound me in the ass prison... no, wait, he'd enjoy that... put him in a convent full of nuns for the rest of his sorry life. Of course, it would be a nasty thing to have to do to a bunch of nuns.

"Yes,Yes; you must give all us a good spanking and then -- on to the oral sex...
Well, perhaps I could stay for just a little while."

[red states rule]

Before US de-regulation risky lending was rare. Post US de-regulation it grew exponentially and left the economies of the most of the world in dire straits. You haave a tough time in the thinking department, don't you?

You gonna keep that up whining, crying and stamping your feet or does baby need a little extra attention?

Psychoblues

Read this and please note the date. Who was President in 1999 PB? Only liberals thought home ownership was a right and not something you have to work for

Now we see the results of liberals interfering in the free market





Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999


WASHINGTON, Sept. 29 — In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html





and of course Pres Bush tried to stop this madness but Dems called it racism

[red states rule]

Talking points? I don't use talking points, you gobble gobble turkey!!!!!

Psychoblues

BTW PB besides the liquor store, have you been to a gas station recently? Or the grocery store?

Have you seen the prices there on a steady rise?

This should be the biggest concern of Obama and the Dems - but it does not appear to be

As the cost of energy increases so does nearly everything else. It will cost much more to manufacture and produce, as well as ship nearly every commodity

You do recall what happened to the US economy when gas hit $4/gal? well oil is damn near near $90/bbl and gas where I am at is about $3.25/gal

The more money people pay for energy and food the less they have to spend and invest on other things.

Do you think it is time for Obama to lift the oil drilling ban in Gulf? Do you think it is time for Dems to let drilling happen in ANWAR? Do you think it is time to make it easier for oil companies to drill where the oil is PB?

Because this would be a major factor in turing the economy around. Right now we have a very weak recovery that can be wiped out if gas prices continue to rise

[logroller]

BTW PB besides the liquor store, have you been to a gas station recently? Or the grocery store?

Have you seen the prices there on a steady rise?

This should be the biggest concern of Obama and the Dems - but it does not appear to be

As the cost of energy increases so does nearly everything else. It will cost much more to manufacture and produce, as well as ship nearly every commodity

You do recall what happened to the US economy when gas hit $4/gal? well oil is damn near near $90/bbl and gas where I am at is about $3.25/gal

The more money people pay for energy and food the less they have to spend and invest on other things.

Do you think it is time for Obama to lift the oil drilling ban in Gulf? Do you think it is time for Dems to let drilling happen in ANWAR? Do you think it is time to make it easier for oil companies to drill where the oil is PB?

Because this would be a major factor in turing the economy around. Right now we have a very weak recovery that can be wiped out if gas prices continue to rise

I say hold off on drilling until we deplete alternative foreign sources further; that way we'll have more later when everybody else is scrounging. Energy is expensive, but I don't think more oil drilling will do anything more than provide a crutch for our overdependency on fossil fuels. I think we need a crisis to focus our attention on sustainable energy practices, rather than ignoring it because our GDP gets a bump.

Talk about food prices, anybody else been surprised by the cost of ground beef; its more expensive than ground turkey; which I've always considered to be superior due to its low fat content. Probably some liberal agenda to reduce cow farts and global warming...:laugh2:
Seriously though, anyone know why its price has went up more than substitute ground meats?

[red states rule]

I say hold off on drilling until we deplete alternative foreign sources further; that way we'll have more later when everybody else is scrounging. Energy is expensive, but I don't think more oil drilling will do anything more than provide a crutch for our overdependency on fossil fuels. I think we need a crisis to focus our attention on sustainable energy practices, rather than ignoring it because our GDP gets a bump.

Talk about food prices, anybody else been surprised by the cost of ground beef; its more expensive than ground turkey; which I've always considered to be superior due to its low fat content. Probably some liberal agenda to reduce cow farts and global warming...:laugh2:
Seriously though, anyone know why its price has went up more than substitute ground meats?

Holding off drilling is part of the reason we are in the mess we are in now. This economy runs on oil and yet so many people refuse to tap the oil we have sitting in the ground

2 years ago the liberal media was full of stories on how high gas prices was hurting the middle class, and the economy. Yet today with gas prices on a steady rise - there is nothing in the liberal media about the impact of $3.25/gal gas

Obama has the oil drilling ban in the Gulf keeping thousands of people out of work and reducing the supply of oil on the market - which would keep the price of gas lower

If we allowed oil companies to expand drilling do you think that would reduce the number of unemployed? How much economic growth would the US economy gain with those people working, and spending their pay checks?

I always laugh when people say it will be OK if the economy takes a hit due to high energy prices. Many working people are like me with a long drive to work everyday. I drive a small car that gets 40 MPG. Now my drive to work is 64 miles one way. So I use 3 gallons of gas per day, or 15gallons per week

Do the math on how higher gas prices is effecting me. Yet the left and enviro wackos who oppose expanding the supply of oil say they are looking out for Mother Earth and the middle class

Not only higher energy prices are hitting me but the cost of nearly everything I buy is going up due to higher energy costs. The left would snear how the "big corporations" should eat the higher costs for the common good. But libs and enviro wackos never did understand Economics 101 and they never will

This very weak recovery will sink fast if oil prices continue to rise

Can you say $100/bbl oil? it may happen very soon and the left will have something else to blame Pres Bush for once again

[fj1200]

Seriously though, anyone know why its price has went up more than substitute ground meats?

Supply, demand, cost of inputs, people like fat... that sort of thing. ;)

[logroller]

Holding off drilling is part of the reason we are in the mess we are in now. This economy runs on oil and yet so many people refuse to tap the oil we have sitting in the ground

2 years ago the liberal media was full of stories on how high gas prices was hurting the middle class, and the economy. Yet today with gas prices on a steady rise - there is nothing in the liberal media about the impact of $3.25/gal gas

Obama has the oil drilling ban in the Gulf keeping thousands of people out of work and reducing the supply of oil on the market - which would keep the price of gas lower

If we allowed oil companies to expand drilling do you think that would reduce the number of unemployed? How much economic growth would the US economy gain with those people working, and spending their pay checks?

I always laugh when people say it will be OK if the economy takes a hit due to high energy prices. Many working people are like me with a long drive to work everyday. I drive a small car that gets 40 MPG. Now my drive to work is 64 miles one way. So I use 3 gallons of gas per day, or 15gallons per week

Do the math on how higher gas prices is effecting me. Yet the left and enviro wackos who oppose expanding the supply of oil say they are looking out for Mother Earth and the middle class

Not only higher energy prices are hitting me but the cost of nearly everything I buy is going up due to higher energy costs. The left would snear how the "big corporations" should eat the higher costs for the common good. But libs and enviro wackos never did understand Economics 101 and they never will

This very weak recovery will sink fast if oil prices continue to rise

Can you say $100/bbl oil? it may happen very soon and the left will have something else to blame Pres Bush for once again

Your argument resounds on the premise of oil being the lifeblood of our economy; which is an overwhelming fact. I can't in all fairness blame GWB for this as he didn't instigate this dependancy, it begun before he was born. I understand drilling will increase supplies and therefor bring prices down, increasing the prevalent economic energy input for transportation, which in turn impacts the prices of most all goods and services. Adding more supply is a tried and true method for increasing economic measures; but given that we enjoy one of, if not the, lowest fuel prices in the developed world; how stable is our economy if it can't compete on a level playing field. Is there no other way to drive our economy than overconsumption of oil? Actions speak louder than words, and given our history of oil consumption (especially the last few decades); signs point to no. But taking your commute for example, your cost could easily be cut in half if you carpooled with just one other person. It makes sense to reproduce previous activities in the hopes of similar results, but supply side increases aren't the only way to influence economic forces; ie decrease in demand. There are other ways to combat rising prices; but simply lowering prices doesn't do anything to solve our dependency problem, it just sweeps it under the rug. A more efficient car is a great solution, as are carpooling and mass transit; wouldn't all these be effective at reducing price increases? I believe that we, as individuals, have the greatest influence on market behavior, not corps and government--they react to what our habits indicate; and when those habits exemplify efficiency and fiscally conservative practices, the market will behave accordingly.

[red states rule]

Your argument resounds on the premise of oil being the lifeblood of our economy; which is an overwhelming fact. I can't in all fairness blame GWB for this as he didn't instigate this dependancy, it begun before he was born. I understand drilling will increase supplies and therefor bring prices down, increasing the prevalent economic energy input for transportation, which in turn impacts the prices of most all goods and services. Adding more supply is a tried and true method for increasing economic measures; but given that we enjoy one of, if not the, lowest fuel prices in the developed world; how stable is our economy if it can't compete on a level playing field. Is there no other way to drive our economy than overconsumption of oil? Actions speak louder than words, and given our history of oil consumption (especially the last few decades); signs point to no. But taking your commute for example, your cost could easily be cut in half if you carpooled with just one other person. It makes sense to reproduce previous activities in the hopes of similar results, but supply side increases aren't the only way to influence economic forces; ie decrease in demand. There are other ways to combat rising prices; but simply lowering prices doesn't do anything to solve our dependency problem, it just sweeps it under the rug. A more efficient car is a great solution, as are carpooling and mass transit; wouldn't all these be effective at reducing price increases? I believe that we, as individuals, have the greatest influence on market behavior, not corps and government--they react to what our habits indicate; and when those habits exemplify efficiency and fiscally conservative practices, the market will behave accordingly.

I remember the liberals created the Dept of Energy to end our dependence on foreign enery. That was under Jimmy Carter and how much money has been wasted on that government department?

People have cut back and guess what happened? The local, and state government take in less revenue on the gas tax and they want to RAISE IT or tax people by the mile. Government will never go without - no matter what we do

We cannot conserve our way out of telling the Middle East to shove their oil rigs. The US can open the areas where we have oil, and let the oil companies do what they do best. Drill, pump, and refine

and we how the economy is doing in other countires where they have much higher energy prices. They are going broke.

But this will play out and oil oprices are about $91/bbl and as people pull up to the pump they will get more and more pissed off

I did car pool until I moved into my current department. However, there is no damn reason for gas to be this high when we have so much oil that could be pumped out of the ground

[logroller]

I remember the liberals created the Dept of Energy to end our dependence on foreign enery. That was under Jimmy Carter and how much money has been wasted on that government department?

People have cut back and guess what happened? The local, and state government take in less revenue on the gas tax and they want to RAISE IT or tax people by the mile. Government will never go without - no matter what we do

We cannot conserve our way out of telling the Middle East to shove their oil rigs. The US can open the areas where we have oil, and let the oil companies do what they do best. Drill, pump, and refine

and we how the economy is doing in other countires where they have much higher energy prices. They are going broke.

But this will play out and oil oprices are about $91/bbl and as people pull up to the pump they will get more and more pissed off

I did car pool until I moved into my current department. However, there is no damn reason for gas to be this high when we have so much oil that could be pumped out of the ground

Let me know how getting pissed off makes you and those around you feel; more pissed off I'd bet. you wanna blow off steam, go ahead, but you won't change many minds with volotile assertions blaming entire classes of people. I live in an oil rich area, that and ag, but water rights are so contested oil is all that remains; and I can't tell you how many trucks I see on the commute sucking sub 10mpgs. I don't go around saying 'bigtruck meatheads are destroying our energy future', not because they aren't, but because that won't get them to change their ways -- but $5 dollar gas might.

[red states rule]

Let me know how getting pissed off makes you and those around you feel; more pissed off I'd bet. you wanna blow off steam, go ahead, but you won't change many minds with volotile assertions blaming entire classes of people. I live in an oil rich area, that and ag, but water rights are so contested oil is all that remains; and I can't tell you how many trucks I see on the commute sucking sub 10mpgs. I don't go around saying 'bigtruck meatheads are destroying our energy future', not because they aren't, but because that won't get them to change their ways -- but $5 dollar gas might.

You would be amazed what pissed off people can do - when they vote

If gas prices continue to rise what do you think will happen in 2012?

Hell we might have 2 Democrat Presidents not only support tax cuts, but more oil drilling as well

So are you like the tree huggers who have declared war on the SUV? You decide what people drive and that is the answer to our energy problem?

If $4 gas drove the economy into a rescession what do you think $5 gas will do? How many people will that put out of work? How much will your weekly trip to the grocery store cost you? How much will it cost you to heat/cool your home?

[fj1200]

You guys are funny. The price of oil is mostly influenced by monetary policy, barely whether we drill or not.

[NightTrain]

You guys are funny. The price of oil is mostly influenced by monetary policy, barely whether we drill or not.

Disagree.

The price of oil is driven by supply and demand.

[logroller]

Tree hugger?- I no fanatic. I drive a '91 f-250 with a bigblock,4-cyl focus wagon, and saturn vue (v6)- so at war with the suv i'm not, but I walk to the store and bring my own bags, ride my bike to visit friends( though not lately, too cold and wet), have my kids ride the school bus and don't buy them kid's meal toys, use programmable thermostats and cfls, grow vegetables and fruit using homemade fertilizers and mulch, water using a smart controller which automatically adjust for air temps, raise chickens (for eggs), and recycle cardboard, bottles, cans and plastic that aren't redeemable and BUY AMERICAN and local products whenever possible. These are practical changes that don't decrease my standard of living while still lowering my energy demand; but I could still do more so I don't usually spend my energy touting my individual accomplishments, as my actions speak volumes more of my resolve than my words!

“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly; who errs and comes short again and again; because there is not effort without error and shortcomings; but who does actually strive to do the deed; who knows the great enthusiasm, the great devotion, who spends himself in a worthy cause, who at the best knows in the end the triumph of high achievement and who at the worst, if he fails, at least he fails while daring greatly. So that his place shall never be with those cold and timid souls who know neither victory nor defeat.”- Theodore Roosevelt

So far as monetary policies and the impact upon energy prices, maybe I'm a cynic but I feel my own actions have little impact upon either. I mean, I could stop using gas altogether and I doubt anyone, outside my household, would take notice; it's our collective will alone that can trigger any sort of change, and the daily votes with our pocketbook greatly outnumber those at the polling place -- public monetary policy is dictated by our collective personal monetary practices, not the other way around; we each have the freedom to spend our own money how we wish, answerable to ourselves alone; whereas the government answers to us.

[fj1200]

Disagree.

The price of oil is driven by supply and demand.

Of course you are correct at the margins but the supply of money, controlled by the Fed mostly, determines how many dollars are used in the oil markets and those dollars drive inflation. Compare the price of oil to the price of gold (determinant of central bank success/failure IMO) and you'll see the relationship; I'll see if I can find a graph.

[fj1200]

So far as monetary policies and the impact upon energy prices, maybe I'm a cynic but I feel my own actions have little impact upon either. I mean, I could stop using gas altogether and I doubt anyone, outside my household, would take notice; it's our collective will alone that can trigger any sort of change, and the daily votes with our pocketbook greatly outnumber those at the polling place -- public monetary policy is dictated by our collective personal monetary practices, not the other way around; we each have the freedom to spend our own money how we wish, answerable to ourselves alone; whereas the government answers to us.

Yes, your actions have little impact.

Monetary policy is NOT dictated by consumers, the Fed has ultimate control over how many dollars are floating around. True, they need to account for velocity, spending, investment, etc. but they are the ultimate dictator of the policy.

[red states rule]

Has anyone noticed the liberal media's coverage of increasing gas prices?

Oh, there is NO coverage

But when Bush was President...........

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[Kathianne]

No media coverage, but people are very upset! I heard a couple talking about gas prices at the drug store. I went to get aspirin and NyQuil. :(

[logroller]

Yes, your actions have little impact.

Monetary policy is NOT dictated by consumers, the Fed has ultimate control over how many dollars are floating around. True, they need to account for velocity, spending, investment, etc. but they are the ultimate dictator of the policy.

Our actions do impact policy, just mine alone don't. But the spending habits of consumers affect market activity, which policy is respective of--so I disagree that monetary policy doesn't affect the long run monetary pursuats of government. So far as ultimacy, no such policies exist--everything is subject to change. So far as media, and whatever you perceive 'liberal' to be, is subjective at best. I think the cost of gas being reported on the pumps is the most accurate source for consumer information. The media's coverage of gas prices was of more pertainance with GWB's admin, as his success was heavily influenced by oil; That was a foregone conclusion; media, liberal or otherwise, just likes to beat a dead horse to incite higher ratings, as Super Mario bangs a coin block until the coins quit counting -- nothing more, 'coming up next'. That's what I've always liked about the WSJ, it has a "What's News" section, where only what things you find of interest do you need look into; as opposed to some ten minute span of reactions to yesterday's news. Modern media, TV anyways, just drags out a story in between commercials; very little informational density, 25% at best. Ugh! It makes me feel dumber!!!

[fj1200]

Our actions do impact policy, just mine alone don't. But the spending habits of consumers affect market activity, which policy is respective of--so I disagree that monetary policy doesn't affect the long run monetary pursuats of government. So far as ultimacy, no such policies exist--everything is subject to change. So far as media, and whatever you perceive 'liberal' to be, is subjective at best. I think the cost of gas being reported on the pumps is the most accurate source for consumer information. The media's coverage of gas prices was of more pertainance with GWB's admin, as his success was heavily influenced by oil; That was a foregone conclusion; media, liberal or otherwise, just likes to beat a dead horse to incite higher ratings, as Super Mario bangs a coin block until the coins quit counting -- nothing more, 'coming up next'. That's what I've always liked about the WSJ, it has a "What's News" section, where only what things you find of interest do you need look into; as opposed to some ten minute span of reactions to yesterday's news. Modern media, TV anyways, just drags out a story in between commercials; very little informational density, 25% at best. Ugh! It makes me feel dumber!!!

The Fed dictates policy, they just take into account consumer, investor, etc. habits.

The price at the pumps reflects all information available, supply and demand, AND monetary policy.

gold-vs-oil/ (http://blogs.wsj.com/marketbeat/2008/10/08/gold-vs-oil/)

http://2.bp.blogspot.com/_w0OEY2TK3HA/RkV1kAxWcaI/AAAAAAAAAXE/Gxw8zw-8vO0/s1600-h/GoldandOil.jpg

argh ^graph^

[trobinett]

The economy is getting better, what a load of crap!

Ask ME, and my laid off employee's if the economy is getting better.

This economy SUCKS.

I've been in business for 40 years, and I've never seen it this bad, and it
just keeps getting worst.

I don't give a shit if Wal-mart, or JC Penny had a good last quarter. I didn't have a good last quarter. We were off by another 5%.

I dropped 30 large from my savings into keeping the doors open, and people on the payroll, won't do THAT again in 2011.

Open your eye's people, this country is in trouble BIG TIME, and with the current administrations attitude, head in the sand, we WILL become a third world country.:slap:

[Trigg]

No media coverage, but people are very upset! I heard a couple talking about gas prices at the drug store. I went to get aspirin and NyQuil. :(

High gas prices will halt any recovery that may be happening.

People have to put gas in their cars, they don't have to spend money at stores or restaurants.

[red states rule]

The economy is getting better, what a load of crap!

Ask ME, and my laid off employee's if the economy is getting better.

This economy SUCKS.

I've been in business for 40 years, and I've never seen it this bad, and it
just keeps getting worst.

I don't give a shit if Wal-mart, or JC Penny had a good last quarter. I didn't have a good last quarter. We were off by another 5%.

I dropped 30 large from my savings into keeping the doors open, and people on the payroll, won't do THAT again in 2011.

Open your eye's people, this country is in trouble BIG TIME, and with the current administrations attitude, head in the sand, we WILL become a third world country.:slap:

The economy is getting better

If you own a repo company, a collection agency, or work in the Default department of a mortgage company

Other then that, I agree with you - the economy stinks