Posted on 04/30/2010 5:53:37 AM PDT by MinorityRepublican
Edited on 04/30/2010 5:58:47 AM PDT by Admin Moderator. [history]
WASHINGTON - The U.S. economy grew at a slightly slower-than-expected pace in the first quarter, held back by inventories and exports, but resurgent consumer spending offered evidence of a sustainable recovery, a government report showed on Friday.
Just ask yourself what is the unemployment rate? The real unemployment rate the U6 report? Moreover, look at home foreclosures?
Euphemism for "Unexpected"
sounds like a recipe for gathering inflation to me
the oil disaster will put a ding in the 2d quarter and beyond
to be revised..........
ah, 2 million new obama-govt paid poll workers?
3.2 will be a great disappointment to the analysts at CNBC. After reevaluation, which is sure to come, it will mean that the actual was somewhere around 2.9
Actually 3.2% is not that great, it’s ok but below the anticipated 3.4%, new home sales were down 11%, foreclosures are still high, business spending was less than “expected,” and the biggest fear of all is that a sizable percentage of consumer spending, while up from last year, was the result of individuals spending their mortgage money on consumer goods. Many “home owners” have not made a mortgage payment in over a year or more. Lastly, the $8,000 first time home buyers tax credit ends today, not good for future home sales.
So, does this mean we are beginning to turn the corner ? Better days ahead.... ? (hoping and praying this will be so for the sake of the millions of unemployed out there ).
You are really ignorant of the facts. This has nothing to do with the Bush tax cuts.
When governments borrow money at the rate ours is doing there is going to be GDP growth.
There is some good and some bad in this report.
The good, that consumer spending is up 3.6% which means people no longer think the world is coming to an end, of course this can be reversed very quickly due to things like Obamacare passing and the European debt crisis.
The bad, and the real takeaway from this report is that when you subtract out inventories, GDP grew at 1.7% in the fourth quarter and at 1.6% in the first quarter. Since the inventory build is almost certain to slow down, we will need to see a major increase in consumer spending or in construction in order to see numbers 3% plus going forward this year, neither of which seems likely.
Do you mean to tell me that this year, the final year of the Bush Tax cuts, has no impact on the overall economy? January 1, 2011 is when the Bush tax cuts expire. Don’t tell me this has no impact what so ever.
It won't show up in the numbers at all. They're hiring almost a million. That looks good on the jobs report. They're laying them off before they can sign up for unemployment, though. That way, hiring looks great, and no new increase in unemployment claims!
They're using the census to skew the numbers.
Tax rebates. There's always a bump when people get their money back.
B I N G O ! ! !
The fundamental problem with every rosy forecast going forward is "Why?" What has happened to "turn the economy around"? What exactly has been done to encourage growth? What reason is there for the private sector to become optimistic?
The only answer the administration and its economic sycophants seem to have is "Because..."
It has gotten to the point that these statistics (which I used to pay attention to) now mean little to me.
I rely on what I personally see and hear regarding the economy versus some fraudulent statistic.
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