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Old 04-30-2009, 11:05 AM
 
Location: New York, New York
4,906 posts, read 6,826,049 times
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Among the reasons for the new optimism: a significant easing of the credit crunch, improvement in consumer spending, a potential bottom in housing, a less-grim jobs picture and expectations that the government's massive stimulus spending could start boosting economic growth sooner than later.

US Economy Could Rebound Much Sooner Than Expected - Economy * US * News * Story - CNBC.com
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Old 04-30-2009, 12:39 PM
 
Location: Chicagoland
41,325 posts, read 44,802,992 times
Reputation: 7118
The CBO, back in January 2009, predicted the recession would end late 2009/early 2010 - that is without any interference/stimulus.

But, of course, you didn't read that report, did you?
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Old 04-30-2009, 12:58 PM
 
4,459 posts, read 4,194,184 times
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Quote:
Originally Posted by sanrene View Post
The CBO, back in January 2009, predicted the recession would end late 2009/early 2010 - that is without any interference/stimulus.

But, of course, you didn't read that report, did you?
No I didn't...
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Old 04-30-2009, 01:51 PM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 26,230,103 times
Reputation: 7621
Quote:
Originally Posted by lamexican View Post
Among the reasons for the new optimism: a significant easing of the credit crunch, improvement in consumer spending, a potential bottom in housing, a less-grim jobs picture and expectations that the government's massive stimulus spending could start boosting economic growth sooner than later.

US Economy Could Rebound Much Sooner Than Expected - Economy * US * News * Story - CNBC.com
Yup.
I've been saying for weeks that things are starting to turn around - much to the likely irritation of this boards' Obamabashers. The stock market is already well into the recovery - with both the DOW and the S&P pretty much recovered back to the point that they were at when Obama was sworn in (and the NASDAQ already recovered well beyond that and in positive territory for the year) we are now well over 20% up from the lows of early March. The NASDAQ has had 8 SOLID weeks of gains, and the S&P and DOW have been up 7 of the last 8 weeks - and so far look to be up again this week.

This is not because of some fluke - there are good reasons behind it. While the economy is still in recession, there have been a LOT of indicators over the last few weeks that are suggesting that we are either at or very, very near the bottom - and the markets has been responding appropriately.

There is no doubt this is going to be a very tough year, but by the end of the year, the picture will likely look very different and I expect next year to see a LOT of improvement.

All of this is very bad news for the Obamabashers of course, who were frantically hoping for a total collapse of the economy so that Obama could be shown to be failing and the door re-opened for the GOP.

Unfortunately for them, I doubt that either of those things are going to happen.

Ken
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Old 04-30-2009, 02:02 PM
 
Location: North Las Vegas
1,125 posts, read 1,584,955 times
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Of course the folks who back Obama will swear up and down that everything is looking better because of what Obama has done, but there are two problems with this:

1. He hasn't been in office nearly long enough to actually make change.
2. The CBO said that things were going to get better WITHOUT any additional government spending.

Of course no Obama supporter is bothering to talk about the fact that the U.S. government is broke for the year and is now operating on borrowed money until October 1st (That means they have already spent all taxes collected from 2007). And even when told about this, they still insist that they will never have their taxes raised, and they are probably right, all the government has to do is to start taking away tax credits to increase revenue, but they can stand right there and say "But we kept our promise, we didn't raise your taxes!"

The end result is the same, each year all of use will be writing bigger and bigger checks to the IRS, the government has no other choice, it is spending money way to fast for any other plan to work.
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Old 04-30-2009, 03:35 PM
 
Location: Chicagoland
41,325 posts, read 44,802,992 times
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Quote:
I've been saying for weeks that things are starting to turn around - much to the likely irritation of this boards' Obamabashers.
Since none of the stimulus has even kicked in yet and considering the CBO said in Jan 2009 the recession would end late this year, early next - it has little to do with obama.

So far, obama has lost over 2,000,000 jobs.

http://www.cbo.gov/ftpdocs/99xx/doc9...07-Outlook.pdf
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Old 04-30-2009, 03:45 PM
 
23,838 posts, read 23,038,933 times
Reputation: 9407
Quote:
Originally Posted by lamexican View Post
Among the reasons for the new optimism: a significant easing of the credit crunch, improvement in consumer spending, a potential bottom in housing, a less-grim jobs picture and expectations that the government's massive stimulus spending could start boosting economic growth sooner than later.

US Economy Could Rebound Much Sooner Than Expected - Economy * US * News * Story - CNBC.com
This begs the question: If the economy is doing this on it's own, then why the need for the "massive stimulus spending [that] could start boosting economic growth sooner than later?"

I've held all along that the free marketplace will work itself out. These things you boast of are independent of the stimulus, at least as it is stated here. What gives?
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Old 04-30-2009, 03:48 PM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 26,230,103 times
Reputation: 7621
Quote:
Originally Posted by Tymberwulf View Post
Of course the folks who back Obama will swear up and down that everything is looking better because of what Obama has done, but there are two problems with this:

1. He hasn't been in office nearly long enough to actually make change.
2. The CBO said that things were going to get better WITHOUT any additional government spending.

Of course no Obama supporter is bothering to talk about the fact that the U.S. government is broke for the year and is now operating on borrowed money until October 1st (That means they have already spent all taxes collected from 2007). And even when told about this, they still insist that they will never have their taxes raised, and they are probably right, all the government has to do is to start taking away tax credits to increase revenue, but they can stand right there and say "But we kept our promise, we didn't raise your taxes!"

The end result is the same, each year all of use will be writing bigger and bigger checks to the IRS, the government has no other choice, it is spending money way to fast for any other plan to work.
It doesn't matter who is responsible for the recovery - Obama is the man in charge so he'll get the credit or blame - that's the way it works, and always has. The Obamabashers had hoped desperately that it would be blame - but now as it turns out, it's likely to be credit. We're already at the bottom and the stimulus money will kick in at just about the right time to give us a good boost.

As I said, bad news for the Obamabashers.

Ken
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Old 04-30-2009, 03:50 PM
 
Location: Chicagoland
41,325 posts, read 44,802,992 times
Reputation: 7118
Quote:
This begs the question: If the economy is doing this on it's own, then why the need for the "massive stimulus spending [that] could start boosting economic growth sooner than later?"

I've held all along that the free marketplace will work itself out. These things you boast of are independent of the stimulus, at least as it is stated here. What gives?
Excellent question - one that should have been beaten to death by the media and others.

We all know the stimulus was anything but - just an opportunity to take advantage of the fear in the markets by implementing as much of big government expansion as possible.
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Old 04-30-2009, 03:51 PM
 
Location: Raleigh, NC
9,059 posts, read 12,935,301 times
Reputation: 1401
The Zimbabwe stock market is up 2,000% year over year. The best performing stock market in the world. Guess their economy is going swimmingly
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