2004 Will Be USA's Best Year Economically in Last 20 Years!

yahooooooo ^

[ConservativeMan55]

2004 Will Be the U.S.'S Best Year Economically in Last 20 Years, The Conference Board Reports in a Revised Forecast Thursday December 11, 11:01 am ET

NEW YORK, Dec. 11 /PRNewswire/ -- Revising its year-end economic forecast sharply upward, The Conference Board today projected that real GDP growth will hit 5.7% next year, making 2004 the best year economically in the last 20 years. The forecast, by Conference Board Chief Economist Gail Fosler, expects worker productivity, which set a 20-year record in the third quarter, to rise at a healthy 3.6% next year. That would follow a gain of 4.3% this year.

The economic forecast is prepared for more than 2,500 corporate members of The Conference Board's global business network, based in 66 nations.

KEY BAROMETERS FLASHING GROWTH

"Growing business spending and continued strength in consumer spending are generating growth throughout the U.S. economy," says Fosler. "This burgeoning strength is reflected in The Conference Board's widely-watched Leading Economic Indicators, the Consumer Confidence Index and the Help-Wanted Advertising Index. While the labor market, a critical factor in sustaining growth, is growing slowly, a pick-up in hiring may already have begun."

Real consumer spending, which continues to fuel growth, will increase at a 4.7% pace next year, up from about 3.2% this year. Another gain of 4.3% is projected for 2005.

While the U.S. economy is expected to generate more than one million new jobs next year, the unemployment rate will edge down only slightly, averaging 5.6% in 2004.

The Conference Board forecast notes that as the U.S. economy bounces back, so is Europe, although growth will be subdued compared to most other major parts of the world. "For all the concern about a weak dollar," says Fosler, "the dollar will be worth more than the euro by the end of the year."

Real capital spending, which will rise by only 2.7% this year, will climb 11.7% next year and another 8.6% in 2005. Pre-tax corporate operating profits will top $1 trillion next year, up from a projected $928 billion this year. Another trillion-dollar-plus gain in profits is expected in 2005.

The continued recovery in business profits, which was a key ingredient in funding new investment (crucial in making 2004 a strong growth year), depends on price relief. Business profits will benefit from both improved volume and recovering profit margins in 2004, as inflation creeps back toward 3% by the end of the year.

Source: Revised Conference Board Economic Forecast December 2003

[69ConvertibleFirebird]

Lets hope 2004 booms. I heard a liberal earlier on Fox say that he was going to sell all of his stock because he thinks the U.S. not allowing $18 billion (nothing in the big scheme of things) of contracts to go to countries in favor of Saddam will crash the market. I wonder how many liberals are going to try to crash the market by pulling everything?

[hattend]

Best economy in years, so why wreck it by amnesty for illegals and SSI payments to Mexico?

Bush is looking for a way to pull defeat from the jaws of victory, I'm convinced of it.

[Grampa Dave]

This clown: "I heard a liberal earlier on Fox say that he was going to sell all of his stock because he thinks the U.S. not allowing $18 billion (nothing in the big scheme of things) of contracts to go to countries in favor of Saddam will crash the market. I wonder how many liberals are going to try to crash the market by pulling everything?"

sounds like the pseudo conservatives who will never vote again for GW. If he is the typical liberal, he has no real investments, if he invest in rat firms during the Clintoonian bubble.

However, you can bet that $orA$$ and his buddies who own and control hedge funds are working 24/7 to keep the market from performing well.

One thing that has not been addressed by the mediots, is how much of a negative impact on the market did Putnam and other funds have when they had sell billions of $'s re stock shares to give cash to the individuals and big organizations rolling out of those investments. In two weeks in Nov. Putnam had sold over 21 billion $ to cash out those who wanted to cash out. It is a temporary impact, but I think that it had a large impact on the markets in November and the first part of this month.

[motor_racer]

I think we all owe it to "the Gipper" always to restate these headlines as follows:

"Best Economy Since the Reagan Administration" !

[Beck_isright]

" So bet on the boom."

I will not wager until the WOT has been won or subsided. Too much to risk if you're on the wrong side of the market and a WMD of some sort hits one of our cities. On the less extreme side, instability in Saudi Arabia and Venezuela are of great concern. The reaction of the U.S. to the first Iranian nuke test is an even higher level of concern for investors. Like I said, boom through 2004, even Q1 of 2005. No wager after that. There are some underlying fundamentals to the commodity and financial markets which are quite disconcerting. They will not kill the boom, but could severely dampen long term prospects if they are not corrected in the next 16 months.

[RWR8189]

40 years they have promptly been accompanied with inflation due to increased demand for and static supply of, petroleum

No but inflation will be back in a big way unless Republicans in Congress get government spending back under control. There is way too much fiscal stimulus out there right now, and in the coming years we will see unacceptable levels of inflation. Congress needs to slash its budget in a big way or we will see some real problems.

[Beck_isright]

"We will probably see another tax cut in 2004."

Doubtful. We'll have to gear up revenue to mobilize for the Iranian and Syrian operations to come.

" If the right mixture of congress is there, we will see massive changes in the government sector."

Since CFR has been upheld, I forsee less than a 2% change in the Congress in the next election. 5% at the very outside.

"Jobs will be eliminated, and many of those that are necessary will be handled by private enterprise."

We can hope. But I think government will expand in 04-06 by another 10%. Not to mention we will begin reactivating military units and expanding operations in the Middle East. Iraq in 05 will be nothing more than an earthen aircraft carrier with 300,000-500,000 troops based there.

[RWR8189]

This one gives Dean a little more credit

[oceanview]

the consensus was for 150,000 new jobs. the whisper number being pumped by lunatics like Cavuto was 300,000. The number came in at 57,000. It was a bad report, look back at any of the articles on it that day.

we must avoid becoming like the liberals in the media. They talk only amongst themselves, and thus form their own sense of reality and what people think, ignoring the real world. Our side cannot afford to do that. Our important voting demographic, private sector middle class people, are getting hurt in tech and manufacturing.

[Bob J]

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[SierraWasp]

Hi Lando!

Everything that should be up... IS UP!!!

And everything that should be down... IS DOWN!!!

Purdy soon everythings gonna git so good, the slaves 'er gonna split frum the danged plantation an ride the economic "FREEDOM TRAIN!!!"

"I hear that train a comin... It's comin round the bend... But I'm stuck in Folsom Prison..."

Chuga chuga chuga chuga... WooooooooooHooooooooooo!!!

LMAO at the slaver Demonicrats!!!

[SierraWasp]

Hay! Where's that go-juice suckin dumbocrat donkey car-toon?

Aye jus cain't git enufa that sucker!!! Got to have it!!!

[GeoPie]

Our unemployemnt numbers are still not that bad (especially when compared to Europe).

My point is that we have some incredible economic figures coming out and all and the first thing you do is say "the last jobs reports was not good at all, there is no denying that."

Get a grip, that was a pathetic first statement after this articles numbers came out.

[rewrite]

So THAT'S where Vermont is....

[Hank Rearden]

Wow! GeeGoshOhGolly! With this to buttress him, what vote-buying scams do you think Bushie will come up with next year, now that he's got his "free" pill vote-buying scam in place and has chipped a big hole in the First Amendment?

Can't wait for the next round of "limited government" Republican giveaways to buy votes in 2004.

[Post Toasties]

If this hits the mass media, the 'Rats are going to need dilithium crystals to crank their hamster cage spin machine at warp speed to counteract it.

[Fledermaus]

I'm sure the DimbulboRats will find a reason to rain on the parade.

[Fledermaus]

49 States? Dream on.

California and New York are too far gone. Illinois has more dead people voting than living.

The Democrats these days could run a rabid dog (oh wait, they are) and get 120 electoral votes.

[Fledermaus]

Whine, cry, complain, whine some more.

You are clueless. You sound like a headline writer for a left wing paper.

If Bush is "predicted" in 2004 to win 55% of the vote and only gets 52%, you'd say, "ooh, Bush failed".

I'll bet you don't even know what the unemployment rate was in 1996 when Clinton won using "the greatest economy in the history of the universe".

Manufacturing jobs are at there highest levels in 20 years. But they are going to continue to decline as a whole as more and more countries around the world wake up and become free societies and compete. Do you really want to pay $50 for a little $5 calculator just to keep a union job in the U.S.?

If so, then let's bring back all those lost jobs in the horse carriage industry, the slide rule makers...heck, let's bring back tubes and transistors so Americans can earn $25 an hour and strike for benefits to make toys for Happy Meals.

BTW, in 1996, the unemployment rate was - SHOCKING - 5.6%.

Get a grip.

[Grampa Dave]