Skip to comments.Good news: Economy not 'frightenly horrible' (AP headline)
Posted on 08/27/2010 12:22:51 PM PDT by truthandlife
Stocks rose Friday and bond prices fell after the government reported that U.S. economic growth didn't slow as much as feared.
Comments from Ben Bernanke also helped send stocks higher. The Federal Reserve chairman, speaking at the central bank's annual conference, reaffirmed his outlook for economic growth next year and said the Fed was ready to take extra steps to stimulate the economy if needed.
Stocks stumbled briefly after Intel Corp. lowered its revenue estimate but then resumed their upward march. The Dow Jones industrial average and other market barometers all gained more than 1 percent.
The downward revision in second-quarter economic growth was steep, but not quite as bad as economists expected. That helped encourage investors to take money out of safe investments like Treasurys and put it to work in the stock market. Yields on Treasurys, which help set interest rates on loans like mortgages, rose sharply as their prices fell.
The Commerce Department reported that gross domestic product grew at a 1.6 percent rate in the April-to-June period. That's still way down from its earlier estimate of 2.4 percent but not as bad as the 1.4 percent expected by economists.
(Excerpt) Read more at chron.com ...
When a US Federal government deficit of $1.5 trillion can only produce a 1.6% GDP then I would call that “frightenly horrible”.
The media is doing their best to polish this turd of an economy.
Now that's the spirit! Keep up morale in the ranks!
"Could be worse. Could be raining..."
Thunderclap! (Rain starts)
"Damn your eyes!"
Just replace "liberal ideology" with eyes, and here we are....
The AP is “frightenly horrible” for such reporting.
Oh, let me guess... during that last quarter the “administration’s” economic policies saved or created 49,876,021,765,774,214 jobs.
The headline should read:
Good news! The economy is not like a Grizzly Bear eating you, it’s only like a Wolf. This is much better!
No. ‘It’s horribly frightening’.
Good news: Your head is still attached to your body
I hate to hear people say "he 'commentated' on this or that," or "we 'conversated' about it."
Very readable graphs of economic data. Looks like economy is slowly improving.
You can superimpose graphs of previous recessions on the current one. You can see stats by individual state.
Who are you going to believe? The AP or your lying eyes?
The stock market is no longer an accurate measurement of the nations economy.
What’s “frightenly”? *rolls eyes*
Whoo-hoo-hoo, look who knows so much. It just so happens that the ecomony here is only MOSTLY dead. There's a big difference between mostly dead and all dead. Mostly dead is slightly alive.
Everybody lets go back in the way back machine to 2007 when GDP slowed to ~1% growth. Wasn’t everyone in the media in sackcloth and ashes over it, calling it a “virtual” recession because you really needed >2% growth to accommodate population growth? Hmm...
On the other hand, if you're an American who has been out of work so long you've given up, then you have a different perspective.