Free Republic

As this week's economic events show—the second straight quarter of nearly 4 percent growth in gross domestic product and job growth twice what Wall Street expected—betting against the American economy is one of the all-time losing wagers. Mortgage mess, credit crisis, high oil prices—whatever. The boom keeps booming. Over the past 25 years, the United States has enjoyed a marvelous stretch of almost uninterrupted economic growth. In fact, November marks a wonderful double anniversary. The current six-year economic expansion dates from November of 2001, while the long economic boom dates from November 1982. Consider this: Since 1982, according to the...

After perusing the blizzard of U.S. economic data that we've gotten this week, you could easily—and quite plausibly—draw this megaconclusion: The Federal Reserve will cut interest rates again, inflation is under control, and while the economy is weakening, it won't slip into recession. Here is the evidence: 1) Yes, the housing market is still dreadful. New-home sales in August hit their lowest point in seven years and are down 21 percent from a year ago. But don't forget that housing is less than 5 percent of the total economy. It's not the whole ballgame. 2) Employment remains amazingly resilient. Initial...