Say it aint so! "Economy in U.S. Expands for First Time in a Year " (dollar, rating)
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If you are referring to the "incomplete data" - that's always the case. After the refined data for the previous quarter came in the GDP was revised UPWARD.
Oct. 29 (Bloomberg) -- The U.S. economy grew in the third quarter for the first time in more than a year, propelled by stimulus-driven gains in consumer spending and home building.
The world’s largest economy expanded at a 3.5 percent pace from July through September, exceeding the median estimate of economists surveyed by Bloomberg News, after shrinking the previous four quarters, figures from the Commerce Department showed today in Washington. Household purchases climbed 3.4 percent, the most in more than two years.
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Payroll cuts peaked at 741,000 in January before falling to 263,000 job losses in September.
Can the stimulus be working? How soon will businesses start hiring? George Soros said in an interview, "[Obama is] concerned about the unemployment and I think he is right to be concerned. Now, the trouble is that it seems that businesses are extremely cautious and even as you have some recovery, they don’t actually hire. They actually are producing good profits by cutting costs and so you’re going to have continued unemployment."
It's all because of the Republican policies put into place before dubya left office!
If you are referring to the "incomplete data" - that's always the case. After the refined data for the previous quarter came in the GDP was revised UPWARD.
So what's your point?
Ken
That people are jumping upon figures that are preliminary and will in all likelihood be revised...maybe upwards OR downwards,we don't know.
There have been three threads posted proclaiming how it is all over...when that is not known to be true.
That people are jumping upon figures that are preliminary and will in all likelihood be revised...maybe upwards OR downwards,we don't know.
There have been three threads posted proclaiming how it is all over...when that is not known to be true.
The numbers are ALWAYS preliminary - and yes they are adjusted, but it's usually not by that much - so no matter how you cut it, this GDP number is good news. As I said, the previous quarter was adjusted too - upwards.
Also the effects of C4C should be taken into consideration on those figures...it isn't like that program is still ongoing and so the sale of durable goods will drop you would think...
The numbers are ALWAYS preliminary - and yes they are adjusted, but it's usually not by that much - so no matter how you cut it, this GDP number is good news. As I said, the previous quarter was adjusted too - upwards.
Ken
You don't have to answer this, Ken, but I'm curious whether you work in finance or just follow it closely. You always seem to have your thumb on the latest numbers and a grasp of their context.
It's good to have a reasonable person like you on these boards dominated by ideological fanaticism.
You don't have to answer this, Ken, but I'm curious whether you work in finance or just follow it closely. You always seem to have your thumb on the latest numbers and a grasp of their context.
It's good to have a reasonable person like you on these boards dominated by ideological fanaticism.
Thanks - but no, I'm just a software guy.
I do think I grasp the big picture better than most folks here though - probably because I love history (and the big picture that it paints) and in fact was planning on teaching it before the bottom fell out of the teaching market some 30 years ago - at which point I took that BA and moved on to software development for a second degree.
I should also credit the fact that growing up as an Air Force Brat I spent roughly half my childhood/teen years living in Europe (and with parents raised in England and Germany) - so I have bit broader understanding of the world (and lot less Ameri-centric view) than most Americans. I think that those foreign experiences serve me well.
Travel is a wonderful teacher.
You people like to blame Bush for everything that Obama has done, why is that?
TARP passed in 2008. Deal
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Bush didn't bail out GM or GE did he?
So soon they forget. GWB's White House circumvented Congress to provide bail-out funds to GM in December. So, in a nutshell: Yeah, he did. Or technically, he made sure they'd stagger on long enough to be Somebody Else's Problem.
Putting together an advisory board of enterprise big-wigs is a bad thing now? I guess some would rather see the CEO of Halliburton, but hey...
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Did Bush come up with C4C to help the unions?
Well, C4C helped the unions and the auto industry both, I'd wager.
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Did Bush bailout Goldman Sachs while letting their direct competition go under while having GS big wigs writing the TARP bills?
Ehm - yes? Goldman Sachs received $10 bn in October 2008, and it just so happened that GWBs Secretary of the Treasury, Paulson, used to be the CEO of Goldman Sachs.
So soon they forget. GWB's White House circumvented Congress to provide bail-out funds to GM in December. So, in a nutshell: Yeah, he did. Or technically, he made sure they'd stagger on long enough to be Somebody Else's Problem.
Putting together an advisory board of enterprise big-wigs is a bad thing now? I guess some would rather see the CEO of Halliburton, but hey...
Well, C4C helped the unions and the auto industry both, I'd wager.
Ehm - yes? Goldman Sachs received $10 bn in October 2008, and it just so happened that GWBs Secretary of the Treasury, Paulson, used to be the CEO of Goldman Sachs.
Congratulations! You are now the proud new owner of an Obo!
Also the effects of C4C should be taken into consideration on those figures...it isn't like that program is still ongoing and so the sale of durable goods will drop you would think...
Well, yeah C4C DID have an effect - as it was INTENDED to - but as I mentioned, even after C4C ended, GM says it's October numbers (with the month 90% through) are looking PRETTY DARNED GOOD. How the other auto makers did remains to be seen, but the fact that GM says it will post it's first year of year increase in sales is a pretty hopeful sign.
Ken
Last edited by LordBalfor; 10-29-2009 at 09:44 AM..
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How soon will businesses start hiring? George Soros said in 
