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Old 10-29-2010, 07:38 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,676,769 times
Reputation: 3587

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It is not where we need to be but better than it has been. Maybe there is some light at the end of the tunnel.
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Old 10-29-2010, 07:41 AM
 
Location: Hoboken
19,890 posts, read 18,694,677 times
Reputation: 3146
Quote:
Originally Posted by KevK View Post
It is not where we need to be but better than it has been. Maybe there is some light at the end of the tunnel.

Pathetic and anemic. we are scraping along in a jobless recovery, narrowly avoiding a double dip each month. This is depressing.
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Old 10-29-2010, 07:41 AM
 
Location: Fort Worth Texas
12,481 posts, read 10,187,532 times
Reputation: 2535
Quote:
Originally Posted by KevK View Post
It is not where we need to be but better than it has been. Maybe there is some light at the end of the tunnel.
There is true hope now as the republicans are about to take the house where money is spent. The light at the end of the tunnel is flood of 60 or so new republicans who want to get the budget under control.
Go to that light embrace that light. That light is true hope
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Old 10-29-2010, 07:54 AM
 
Location: Chicagoland
41,325 posts, read 44,811,735 times
Reputation: 7118
This is abysmal.

Consumer spending lifts third-quarter growth - Yahoo! Finance (http://finance.yahoo.com/news/Consumer-spending-lifts-rb-2422515532.html?x=0&.v=3 - broken link)

Quote:
But the surge in consumption was largely satisfied by imports, rather than domestic production.

Business inventories added 1.44 percentage points to growth, but this could be at the expense of fourth-quarter growth.

Excluding inventories, the economy expanded at a 0.6 percent pace, slowing from 0.9 percent in the second quarter.
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Old 10-29-2010, 08:14 AM
 
5,500 posts, read 10,487,382 times
Reputation: 2302
Quote:
Originally Posted by shorebaby View Post
Pathetic and anemic. we are scraping along in a jobless recovery, narrowly avoiding a double dip each month. This is depressing.
Welcome to the new economy for many years to come.
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Old 10-29-2010, 08:15 AM
 
5,500 posts, read 10,487,382 times
Reputation: 2302
Quote:
Originally Posted by wjtwet View Post
There is true hope now as the republicans are about to take the house where money is spent. The light at the end of the tunnel is flood of 60 or so new republicans who want to get the budget under control.
Go to that light embrace that light. That light is true hope
Good luck with them actually doing what they say. I doubt either party changes the economy much. Reality is many of the jobs are not coming back and many American's have themselves to blame for living beyond their means in the past.
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Old 10-29-2010, 08:22 AM
 
Location: Southeast
4,301 posts, read 7,013,768 times
Reputation: 1464
Economists forecast 2.1%, so they were close for a change.

3% is the post-war average and is the amount needed under normal economic conditions to generate enough jobs to sustain population growth. 3% generates approximately 100,000 jobs a month.
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Old 10-29-2010, 08:28 AM
 
Location: Great State of Texas
86,052 posts, read 84,174,115 times
Reputation: 27718
Quote:
Originally Posted by Frankie117 View Post
Economists forecast 2.1%, so they were close for a change.

3% is the post-war average and is the amount needed under normal economic conditions to generate enough jobs to sustain population growth. 3% generates approximately 100,000 jobs a month.
I'd agree if that 3% was consumer spending. The bulk of this increase though was based on inventory restocking. That in itself won't generate jobs. Consumer spending was anemic at 0.6%.

Then again..one of the credit card banks (Citi maybe) reported a 50% increase in profits from their credit cards so people are spending and they are spending money they don't have.

Tough to call which way we're going these days.
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Old 10-29-2010, 08:34 AM
 
20,187 posts, read 23,761,184 times
Reputation: 9283
I wonder... WHEN they are going to "revise" it down to 1.2%? A year after the "fact"?? Again? Why does government get it wrong so many times and who do I blame?
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Old 10-29-2010, 08:36 AM
 
62 posts, read 47,263 times
Reputation: 22
Quote:
Originally Posted by Frankie117 View Post
Economists forecast 2.1%, so they were close for a change.

3% is the post-war average and is the amount needed under normal economic conditions to generate enough jobs to sustain population growth. 3% generates approximately 100,000 jobs a month.
There's 15 million people outta work and more that the Gov't doesn't count because they are out of benefits. The month that Bush Jr. left we lost 761,000 jobs. 500,000 jobs a month are needed and that will never happen. The United States of America is now the joke of the world.
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