US Economic Growth Accelerates - BS or not?

[Twitchin Kitten]

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I call bullshit.

You get these "good" reports whenever an event that takes place at the same time every year happens.

This is only a bump in "growth" IMO because school started. Moms had to buy school supplies and clothing for kiddie.

Holiday season is fast approaching and with the rush to Halloween all last month, they're practically bypassing Thanksgiving! Christmas season brings more "growth" because of, obviously, Christmas.

We'll have our usual slump in January until Easter approaches, school lets out in June and jobs numbers bump up with summer hires.

Predictable? Yes.


US Economic Growth Accelerates <-- clicky

BY JEFFREY SPARSHOTT AND JEFF BATER

The U.S. saw its strongest growth of the year in the third quarter, as Americans stepped up spending, businesses boosted investment and exports grew.

Separately, new claims for unemployment benefits fell slightly last week yet remained elevated, showing that the labor market is still struggling to find its footing.

Gross domestic product, the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 2.5% from July through September, the strongest performance in a year.

Economists surveyed by Dow Jones Newswires expected GDP to rise 2.7%.

The economy grew a paltry 0.4% ...

[Vizth Hal]

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hopefully i'll be part of that summer bump up. 0.o

[LKTraz]

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Growth my ass.

As you pointed out Twitch, it's normal seasonal spending trends. The true indicator will be the unemployment numbers which are holding a steady line right now. There may be a small temporary decrease in unemployment due to holiday temporary hiring but this is again just seasonal.

The "experts" declared that the recession was over beginning this last June. REALLY? I don't think so! They keep trying to declare economic recovery by changing the way unemployment is calculated but even THAT didn't lower the figures significantly enough to declare an end to the recession. If you included those who have exhausted their unemployment benefits and those who have given up looking for work the actual numbers eclipse those of the Carter era recession! During that administration those factors WERE included.

Atta boy Barry! You truly have wrested the title of "Worst President Ever" from Jimmy Carter. Just give up and admit it.

Remember.......it took the subsequent "fuck this shit" resolve after the phenomenally bad Carter administration to bring us the robust recovery of the economy. If all goes well history will repeat itself.

[Twitchin Kitten]

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At least Carter didn't try to bullshit us the economy was good. He knew it and accepted it.

How can they tell how many are actually looking for jobs? Seriously. If they are only going by what is done through the unemployment offices, their numbers are so off balance it isn't funny. There are plenty out there that hoof it from store to store, business to business, handing in resumes and applications in person without ever setting foot in an agency. I've never had someone look for a job for me through a third party.

The last time I collected unemployment insurance was 11 years ago and I did NOT go through them for anything. Hell, most times I bullshitted them that I was even looking to keep the check coming. Bush extended benefits for 6 months back then too. That caused the dems to have fits.

But I find jobs on my own. The gov't can't even begin to count the losses of jobs the way they do things.

Know how bad it is? This part of the country usually does better in times like these. This is where all the money is, and all the good jobs. Well, it's tanking fast. Every two weeks we get those "money mailer" coupon envelopes in the mail and they're STUFFED tight with coupons and adverts for local businesses. This week there were literally 10 flyers in there. That's sad. I see stores failing all over here. Only big name chains are in a position to hang in there.

Way to go Obama.