BLAST OFF - US Q3 GDP up 7.2%, best in 19 years

docetboy · #1 10-30-2003, 11:59 AM

Economy Grows at Fastest Pace Since 1984
Oct 30, 8:54 AM (ET)
By JEANNINE AVERSA

WASHINGTON (AP) - The economy grew at a scorching 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.

The economy's recovery from the 2001 recession has resembled the side of a jagged cliff; a quarter of strength often has been followed by a quarter of weakness. But analysts are saying that pattern could be broken, considering increasing signs the economy finally has shaken its lethargy and is perking up.

CONTINUE READING at http://apnews.myway.com/article/20031030/D7UGHGD02.html

#2 10-30-2003, 12:02 PM

I heard that on the radio on my way to work this morning.

Looks like the economy is picking up at just the right time for W. Gee, if the economy's doing well next novemeber, what are the dems gonna use to attack him?

Kitso
KS 361

AlphaGam1019 · #3 10-30-2003, 12:05 PM

I heart Zell Miller

bethany1982 · #4 10-30-2003, 12:10 PM

Come on Kitso, you know they are creative. Besides, the numbers lie. They lie I tell you. Lies... all lies. Just because productivity is at an all time high, average wages are at all time highs, the stock market is kicking butt again, unemployment is starting to come down... the numbers are lies. We need more entitlements. We need more government involvement in our daily lives. We need... We deserve... We... I... Me...

#5 10-30-2003, 12:14 PM

Quote:

Originally posted by bethany1982
Come on Kitso, you know they are creative. Besides, the numbers lie. They lie I tell you. Lies... all lies. Just because productivity is at an all time high, average wages are at all time highs, the stock market is kicking butt again, unemployment is starting to come down... the numbers are lies. We need more entitlements. We need more government involvement in our daily lives. We need... We deserve... We... I... Me...

I <3 you beth

Kitso
KS 361 ways the dems will find to exploit a race issue before the election

Honeykiss1974 · #6 10-30-2003, 12:16 PM

Deleted because I was fooled into thinking this would be a serious discussion.

Rudey · #7 10-30-2003, 12:18 PM

Quote:

Originally posted by Honeykiss1974
What articles like this don't really say in their headlines is that people are still unemployed and that the rate of job growth still lags WAY behind. People need jobs to pay for those new home (mortage) or car (loan).

I don't understand why some economist, politicians, whomever people expect consumers to spend (i.e. take on more long term debt) our economy back to health. It almost a catch 22 - spend more so companies can produce more (growth), then companies hire more workers, who in turn will go out ans spend their paychecks, etc. This is the cycle in simplistic terms, but you get my drift.

No you're assuming there is a set level of "money". If that were true, your economy wouldn't "expand".

Also consumer spending isn't the only thing that drives the economy.

-Rudey
--And I think I'm the only one who can rip apart all those numbers because I'm that smart but eh.

Honeykiss1974 · #8 10-30-2003, 12:19 PM

Quote:

Originally posted by Rudey
No you're assuming there is a set level of "money". If that were true, your economy wouldn't "expand".

-Rudey
--And I think I'm the only one who can rip apart all those numbers because I'm that smart but eh.

No, I'm not, but thanks though...

ZTAngel · #9 10-30-2003, 12:20 PM

I think a "wise" Republican said in another thread that the present economy is due to the previous president's policies. So, if the economy is growing (which I just don't understand how due to all the unemployment, wages decreases, etc.), wouldn't that be because of good ole Billy Boy?

Rudey · #10 10-30-2003, 12:21 PM

Quote:

Originally posted by Honeykiss1974
No, I'm not, but thanks though...

Then I don't know what to tell you. I guess you've pretty much figured out the economy down to the penny - the economy is just a giant catch-22.

-Rudey
--You're welcome.

MereMere21 · #11 10-30-2003, 12:21 PM

Quote:

Originally posted by AggieSigmaNu361
I <3 you beth

Kitso
KS 361 ways the dems will find to exploit a race issue before the election

Don't know if thats going to happen - Shrub was here in Dallas yesterday at an Oakcliffe Baptist Church, he is a long time friend of the black minister there. Looks like he is trying to cover all his bases to get everyone's attention of that Newsweek article about his 87 billion dollar mess and how he lied to the nation.

I wish he had just stayed Governer, I would still like the guy

docetboy · #12 10-30-2003, 12:28 PM

Quote:

Originally posted by ZTAngel
I think a "wise" Republican said in another thread that the present economy is due to the previous president's policies. So, if the economy is growing (which I just don't understand how due to all the unemployment, wages decreases, etc.), wouldn't that be because of good ole Billy Boy?

The article specifically quotes the current President's policies for the reason for the economic growth (and this is an AP article...)

Quote:

Near rock-bottom short-term interest rates, along with President Bush's third round of tax cuts, have helped the economy shift into a higher gear during the summer, economists say

docetboy · #13 10-30-2003, 12:29 PM

Quote:

Originally posted by bethany1982
Come on Kitso, you know they are creative. Besides, the numbers lie. They lie I tell you. Lies... all lies. Just because productivity is at an all time high, average wages are at all time highs, the stock market is kicking butt again, unemployment is starting to come down... the numbers are lies. We need more entitlements. We need more government involvement in our daily lives. We need... We deserve... We... I... Me...

Bethany, I want to buy you a really expensive ring right now to help out the 'economy'

Rudey · #14 10-30-2003, 12:31 PM

Quote:

Originally posted by ZTAngel
I think a "wise" Republican said in another thread that the present economy is due to the previous president's policies. So, if the economy is growing (which I just don't understand how due to all the unemployment, wages decreases, etc.), wouldn't that be because of good ole Billy Boy?

No because the president has no control of the economy. If you think Clinton was responsible for the stock boom, the following things must have happened as well:

1. The resulting crash and burn.
2. Al Gore had to have invented the internet.

-Rudey

bethany1982 · #15 10-30-2003, 01:03 PM

Quote:

Originally posted by docetboy
Bethany, I want to buy you a really expensive ring right now to help out the 'economy'

Anything for the economy. Well, almost anything.