OT--Economy Grows at Fastest Pace Since 1984
 

Economy Grows at Fastest Pace Since 1984
By JEANNINE AVERSA, Associated Press Writer

WASHINGTON - The economy grew at a blistering 7.2 percent annual rate in the
third quarter in the strongest pace in nearly two decades. Consumers spent
with abandon and businesses ramped up investment, compelling new evidence of
an economic resurgence.



The increase in gross domestic product, the broadest measure of the
economy's performance, in the July-September quarter was more than double
the 3.3 percent rate registered in the second quarter, the Commerce
Department reported Thursday.


The 7.2 percent pace marked the best showing since the first quarter of
1984. It exceeded analysts' forecasts for a 6 percent growth rate for
third-quarter GDP, which measures the value of all goods and services
produced within the United States.


"This is a gangbuster number. Everything came together for the economy in
the third quarter," said Mark Zandi, chief economist at Economy.com.

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I guess we can take "bagging on the economy" off the '04 Democratic election
strategy...

OT--Economy Grows at Fastest Pace Since 1984
 

"NOYB" wrote in message
link.net...
Economy Grows at Fastest Pace Since 1984
By JEANNINE AVERSA, Associated Press Writer

WASHINGTON - The economy grew at a blistering 7.2 percent annual rate in
the
third quarter in the strongest pace in nearly two decades. Consumers spent
with abandon and businesses ramped up investment, compelling new evidence
of
an economic resurgence.

While going into further debt. Washington is setting the tone, we're in
love with deficit spending.


The increase in gross domestic product, the broadest measure of the
economy's performance, in the July-September quarter was more than double
the 3.3 percent rate registered in the second quarter, the Commerce
Department reported Thursday.

Because the cupboards were nearly empty from reduced production (of
everything but job cuts) for months.

OT--Economy Grows at Fastest Pace Since 1984
 

"jps" wrote in message
...
"NOYB" wrote in message
link.net...
Economy Grows at Fastest Pace Since 1984
By JEANNINE AVERSA, Associated Press Writer

WASHINGTON - The economy grew at a blistering 7.2 percent annual rate in
the
third quarter in the strongest pace in nearly two decades. Consumers
spent
with abandon and businesses ramped up investment, compelling new
evidence
of
an economic resurgence.

While going into further debt. Washington is setting the tone, we're in
love with deficit spending.

There's nothing wrong with deficit spending when you have the ability to
borrow ad infinitum...especially when GDP increases as sharply as it did.
The net tax receipts grow (despite a rate cut), as GDP grows...but there is
at least a 1-1 1/2 year lag. The ol' deficit will shrink in the very near
future again. Nevertheless, increases in the deficit don't matter as long
as there are proportional increases in GDP.




The increase in gross domestic product, the broadest measure of the
economy's performance, in the July-September quarter was more than
double
the 3.3 percent rate registered in the second quarter, the Commerce
Department reported Thursday.

Because the cupboards were nearly empty from reduced production (of
everything but job cuts) for months.

Spin away Dem-boy...but there's nothing but good news in a 7.2% jump in the
GDP.

OT--Economy Grows at Fastest Pace Since 1984
 

"NOYB" wrote in message
hlink.net...

Spin away Dem-boy...but there's nothing but good news in a 7.2% jump in
the
GDP.

It's all relative Neo-boy. When a company goes in the ****ter and then
"doubles profits" in the subsequent quarters, it can still be doing 1/10th
the business it did previously. Statistical analysis is fun for you. The
truth is that America is going into debt, both gov't and its citizens.

I don't care how you paint it, that's not good.

OT--Economy Grows at Fastest Pace Since 1984
 

NOYB:

I thought you guys on the right were business savvy.

Yeah, once you screw something up *tremendously*, it's easier to post some
pretty impressive percentage numbers as the rebound begins.

Example: Your practice is capable of handling 20 patients per day. You begin
spouting off about your politics while your victims (er, I mean patients) are
strapped into the chair with a mouth full of crap and unable to respond. Your
patient load drops from 20 per day to 5. You finally realize that dentistry and
politics don't mix, and shut the heck up. Your patient load goes from 5
patients per day to 8. Wo ho! Brilliant management! You just posted a 60%
increase. :-)

I once took over a sales situation where I achieved a 120% increase in less
than six months. But it wasn't any big deal, all I really did was get
production up to about where it should have been all along. That percentage
increase sure looked good on the resume for a while, though.

I guess we can all be thankful that one of our longer and deeper recessions may
be coming to an end in many places throughout the country. The West Coast is
seeing no part of it. You know it *must* have been the tax cuts. This is the
very first time that the economy *ever* recovered from a recession, right?

Get thou real, Doc. :-)

Meanwhile, back at the Crawford Ranch,
the R controlled White House and the R controlled Congress have increased our
national debt 43 BILLION DOLLARS since
October 1st. Why all the outrage about 87 billion for Iraq? We're peeing that
away as a matter of course every 60 days as it is.

It's all part of the PNAC's agenda to move to a British capital, imperialist
system.
We will have to raise interest rates to attract enough investors to shoulder
this debt, and at that time those few people sitting on hundreds of millions in
cash will be on easy (or easier) street.


Current
Month

10/27/2003 $6,847,911,183,949.94
10/24/2003 $6,847,437,986,849.37
10/23/2003 $6,846,423,952,526.25
10/22/2003 $6,834,787,133,873.25
10/21/2003 $6,837,578,313,166.46
10/20/2003 $6,834,248,759,903.16
10/17/2003 $6,834,021,912,939.72
10/16/2003 $6,830,709,313,106.40
10/15/2003 $6,819,991,274,100.25
10/14/2003 $6,816,232,489,123.39
10/10/2003 $6,815,997,835,664.82
10/09/2003 $6,818,335,215,910.51
10/08/2003 $6,815,762,633,308.91
10/07/2003 $6,817,256,800,753.20
10/06/2003 $6,814,440,215,107.91
10/03/2003 $6,812,573,929,325.08
10/02/2003 $6,805,599,570,918.78
10/01/2003 $6,804,504,127,055.70

If you guys keep this up, you'll give the American public a 7 Trillion dollar
debt just in time for Christmas. What a nice thought the have stuffed up your
chimney- tinsel, pointy star, and all.

OT--Economy Grows at Fastest Pace Since 1984
 

It's all relative Neo-boy.

You're right, it is all relative.
Relatively speaking our debt is lower now than it was throughout the 90's.

OT--Economy Grows at Fastest Pace Since 1984
 

"Joe" wrote in message
...

It's all relative Neo-boy.

You're right, it is all relative.
Relatively speaking our debt is lower now than it was throughout the 90's.

Let's see what you're basing that on...

OT--Economy Grows at Fastest Pace Since 1984
 

You're right, it is all relative.
Relatively speaking our debt is lower now than it was throughout the 90's.

Relatively speaking?

Maybe if you're a relative of a right wing radio spin doctor.

Our current debt is about 1 1/2 times what it averaged in the 90's. Is somebody
trying to state that the size of our (recessed) economy is more than 150% of
what it was in the 90's and therefore the debt is
still in proportion? That's easy to say, but I think it would be impossible to
come up with any evidence to support such a s-t-r-e-t-c-h of logic.

You also have to examine the trend. The national debt increased more in single
fiscal year ended 9-30-2003 (about $500 billion) than it did in any single year
in the 90's, and indeed more than it did in almost any 2 year period you can
find during the 90's.


Prior Fiscal
Years

09/30/2003 $6,783,231,062,743.62
09/30/2002 $6,228,235,965,597.16
09/28/2001 $5,807,463,412,200.06
09/29/2000 $5,674,178,209,886.86
09/30/1999 $5,656,270,901,615.43
09/30/1998 $5,526,193,008,897.62
09/30/1997 $5,413,146,011,397.34
09/30/1996 $5,224,810,939,135.73
09/29/1995 $4,973,982,900,709.39
09/30/1994 $4,692,749,910,013.32
09/30/1993 $4,411,488,883,139.38
09/30/1992 $4,064,620,655,521.66
09/30/1991 $3,665,303,351,697.03
09/28/1990 $3,233,313,451,777.25
09/29/1989 $2,857,430,960,187.32
09/30/1988 $2,602,337,712,041.16
09/30/1987 $2,350,276,890,953.00

SOURCE: BUREAU OF THE PUBLIC DEBT

OT--Economy Grows at Fastest Pace Since 1984
 

It's all relative Neo-boy.

You're right, it is all relative.
Relatively speaking our debt is lower now than it was throughout the
90's.

Let's see what you're basing that on...


Percentage of debt to GDP.

OT--Economy Grows at Fastest Pace Since 1984
 

The Bush Prosperity:

Divide the 43 Billion dollar increase in the national debt by 300 million.
(approximate pop)

The answer is $143.33

Multiply that amount by the number of people in your family. Rather than use a
liberal-friendly example of a family of 11 (grin), let's use a realistic
example of a family of 5.

5 x 143.33 = $716

If you are part of a 5-person family, your family's portion of the national
debt increased $716 in the last 30 days.
Plus interest, as it gets paid off. (If it ever gets paid off).

So, whatever you think you took home for the family kitty- deduct $716 for
October.
That's the "deferred" cost of Bush's so-called recovery. Just like "deferred
maintenance", we can be sure it will ultimately cost a lot more than if we had
just dealt with it up front. :-(