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...y/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.

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

gobble gobble gobble



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...y/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]

[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

[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?