The Economy is OK.

[William J. Decker]

Not great, not even good, but OK.

Fact: 2nd Qtr, 2008. GDP up 1.9%.

Fact: The definition of recession is 2 or more consecutive qtrs of negative growth.

Fact: We have not even experienced 1 MONTH of negative GDP growth, but many (especially the Dems and their toadies in the Mainstream Media) keep saying we are in a depression.

Consider: Look at these two articles. The first from AP and the 2nd from Reuters.

http://biz.yahoo.com/ap/080731/economy.html?.v=19

http://www.reuters.com/article/busin...rpc=23&sp=true

Both articles seem to take the same news (2nd qtr growth at 1.9%) bur spin it in different ways. The AP articles stresses that things are getting worse, while the Reuters article is more upbeat.

And note that the AP article keeps pounding home that the exonomic stimulus checks didn't help while the Reuters article stresses that they did. In fact, they pretty much had no effect and were a stupid idea in the first place (See yesterday's articles about the deficit reaching an all time high).

My point is that there are facts out there, facts that can be read and, with a little bit of education so that the individual knows to read and understand the information, people can see for themselves how the economy is doing and plan their lives.

BUT, if you are lazy, uninformed and rely on the press to not only give you the objective facts, but also to "analyze and interpret" if for you, you will be little more than a manipulated sheep, easy pray for the political wolves.

Think about it.

[Bob Elliott]

Spoken lke a true Republican.

Got any cake?

[John McKenna]

We have pockets of recession, but on a nation wide basis, we are still floating
above that point.

[William J. Decker]

Originally Posted by relliott

Spoken lke a true Republican.

Got any cake?

Hey, Bob. Facts are facts. Look for yourself.

And, I am NOT a Republican. I am a Conservative.

[rbrady]

Originally Posted by wdecker

Fact: We have not even experienced 1 MONTH of negative GDP growth, but many (especially the Dems and their toadies in the Mainstream Media) keep saying we are in a depression.

It looks like you got your facts wrong

from your reference article:

"the outright contraction in the economy during the final quarter of last year."


That was revised from a reported growth of 2.6%. I wonder what the second quarter revision will be. Is that growth rate adusted for inflation??

[Bob Elliott]

So you vote for the conservitive party?

Will the economy is doing bad when resale shops get lots of business.

Right now resale shops are getting lots of business.

Yes it is that simple to figure.

You can pull all the rerouted and edited information in the world out of a hat, yet ,regular Joes do not do anything but get watery eyes trying to decifer the lingo in Lawyer language ,designed to sparkle in any color the sponsor chooses.
In the real world many people are languishing under same salary and higher taxes too go along with higher bills.
Even DaleyTown admits that revenue is hurting from lack of increase in property taxes to fund all the constant corruption.

We can admit all the problems occuring in the real world outside or continue to fiddle. (choice is yours)

[William J. Decker]

Originally Posted by rbrady

It looks like you got your facts wrong

from your reference article:

"the outright contraction in the economy during the final quarter of last year."


That was revised from a reported growth of 2.6%. I wonder what the second quarter revision will be. Is that growth rate adusted for inflation??

This is exactly what I mean, Ralph.

4th qtr GDP for 2007 was 2.2%. This was down from 2.6% 3rd qtr 2007.

It it a "contraction" (i.e., 2.2 is less than 2.6?). Yes.

Is it negative growth? No.

Please, read the actual numbers, not the "interpretation" of the numbers, which will give you the wrong idea (and is, often, meant to). The actual numbers are public record and available at the treasury dept web site. Interpret them for yourself.

[John McKenna]

The BBC News...

http://news.bbc.co.uk/1/hi/business/7535313.stm
US economic growth stays positive

http://news.bbc.co.uk/2/hi/business/7373158.stm



It's not a recession yet, based on real numbers.

[Bob Elliott]

I can list the entire formula for PI (circumference of a circle)
and state that it proves the Mayan's are right about earth's destruction in 2012.

[rbrady]

"along with the negative GDP in the fourth quarter of last year -- may rekindle recession fears."

"Instead, GDP contracted by 0.2 percent, on an annualized basis, in the last three months of 2007, according to annual revisions released by the government."

From the BBC article:
"Growth in the last three months of 2007 was downgraded from the previous reading of 0.6% to show a negative growth figure of -0.2%. "

I don't see how you can interrupt that as positive GDP growth.

[Michael Larson]

Originally Posted by relliott

I can list the entire formula for PI (circumference of a circle)
and state that it proves the Mayan's are right about earth's destruction in 2012.

Formula for PI.

It's a constant, not a formula for a circle.


Words means things and their definitions are what they are not what you imagine they are.

[John McKenna]

Originally Posted by rbrady

"along with the negative GDP in the fourth quarter of last year -- may rekindle recession fears."

"Instead, GDP contracted by 0.2 percent, on an annualized basis, in the last three months of 2007, according to annual revisions released by the government."

Still not a recession.

From the BBC article:
"Growth in the last three months of 2007 was downgraded from the previous reading of 0.6% to show a negative growth figure of -0.2%. "

Still not a recession.

I don't see how you can interrupt that as positive GDP growth.

Overall, it is still moving up.

Read the title of the BBC article.

" US economic growth stays positive"

Why did they say that? Write them a letter and correct them.

[Michael Larson]

Originally Posted by rbrady

"along with the negative GDP in the fourth quarter of last year -- may rekindle recession fears."

"Instead, GDP contracted by 0.2 percent, on an annualized basis, in the last three months of 2007, according to annual revisions released by the government."

From the BBC article:
"Growth in the last three months of 2007 was downgraded from the previous reading of 0.6% to show a negative growth figure of -0.2%. "

I don't see how you can interrupt that as positive GDP growth.

We're not there yet(recession) stay tuned.

We won't know is was until after it has been.

[rbrady]

Originally Posted by jmckenna1

Read the title of the BBC article.

" US economic growth stays positive"

Why did they say that? Write them a letter and correct them.

The headline is only talking about the latest quarter figures. I actually read more than the headline. Are you disputing the quotes from the article?

[Bob Elliott]

Mike PI is diameter of a circle x 3.54183 or something like that.

Any way the key above is that you used the adjective YET

Pretty big admission for a George Lover.