Posted on 01/29/2010 5:55:55 AM PST by RobFromGa
WASHINGTON (Reuters) - The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest pace in more than six years, as businesses reduced inventories less aggressively, the Commerce Department said on Friday.
The first estimate put fourth-quarter gross domestic product growth at its fastest pace since the third quarter of 2003. The economy expanded at a 2.2 percent annual rate in the third quarter...
(Excerpt) Read more at finance.yahoo.com ...
Obama has said that we should be more like China. I guess now we make up economic numbers just like they do.
Hi Rob,
Are you going to have a 2010 Senate list?
>> I guess now we make up economic numbers just like they do.
It’s OK. They’ll revise them downwards later, by an unexpected amount.
RE SENATE PREDICTIONS LIST... Yes, I have been working on it and hope to have a preliminary one up by the end of next week— 9 months before election day.
Bush’s Fault?
Horse Pucky. Fuzzy math.
Let me see, jobs are down, retail spending is down, consumer confidence is down, but factories are producing more product in the irrational hope that all those unemployed and unconfident people are going to irrationally start buying again? Uh uh, I don’t think so. I detect some hocus pocus.
What an absolute joke. Consumer spending was down, so things didn’t get bought, and thus inventories stayed high, and the high inventory numbers were the reason for the ‘growth’ figures. That’s like saying someone who is losing weight because they haven’t been eating is ‘improving’ because there is more food in the house. How can you trust anything government says (yes, I know, you can’t).
Yep.
What a Crock!
What a joke, economic “growth” fueled almost 100% by massive government spending. Here’s a clue, many credible economists are calling for 2% - 2.5% economic growth for all of 2010, what does that tell you?
Cool! Thank you!
All
Same gut instinct here. Impossible number, given retail figures, unemployment rates and consumer confidence index.
And if they take out government spending?
This will be revised downward I bet.
EEeeeeww!
Does NOT pass the smell test.......
Elections soon within the limited six month political memory of the masses.
The numbers will keep on climbing, which have nothing to do with your personal prosperity or independence - kind of like China/USSR.
Isolate, Counter, and Assert.
Housing lastest numbers down 16%. This a JOKE. Where is the growth?
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