Possibly the BEST economy in TWO decades!

Discussion in 'Current Events' started by freeandfun1, Jul 6, 2004.

  1. freeandfun1
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    freeandfun1 VIP Member

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    THE ECONOMY IS HUMMING!!

    WASHINGTON, D.C. -- The economy appears headed for a banner year despite a springtime spike in energy prices and a recent increase in interest rates.

    In fact, many analysts are forecasting that the economy, as measured by the gross domestic product, will grow by 4.6 percent or better this year, the fastest in two decades.

    There were strong 4.5 percent growth rates in 1997 and 1999, when Bill Clinton was president and the country was in the midst of a record 10-year expansion.

    But if this year's growth ends up a bit faster than that, it will be the best since the economy roared ahead at a 7.2 percent rate in 1984, a year when another Republican president, Ronald Reagan, was running for reelection.
     
  2. MtnBiker
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    MtnBiker Senior Member

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  3. Bullypulpit
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    Bullypulpit Senior Member

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    And what planet are you living on?

    Granted, their were some 700,000 new jobs in April and May. In June, however, there were only 112.000 new jobs created as well as an overall decline in the number of hours worked.

    While growth in the third quarter of 2003 was 8%, by the first quarter of 2004, it slowed to 3.9%, onlt slightly better than the average in the Goatboy era. There are also rising new claims for unemployment benefits, sales warnings from Target and Wal-Mart, weakening durable goods orders...I could go on but, simply put, the economic picture is not as rosy as the administration is painting it.

    As for the average American, the "recovery" is passing us by. Non-supervisory wages only rose about 1.7% over the last year. So, who is benefitting from the "recovery"? That's easy, corporate profits as a percentage of GDP are at levels not seet in 75 years.
     
  4. dilloduck
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    dilloduck Diamond Member

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    Can you imagine how great it would be if the 9/11 attack didn't cost us trillions?
     
  5. fuzzykitten99
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    fuzzykitten99 Senior Member

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    did it ever occur to you that the decline in the number of hours worked went down due to the fact that it is SUMMER? most teachers are laid off---there's hours not worked. Many family vacations are taken----there's some more hours not worked. May and June are popular months for births, and since mothers either quit to stay at home, or take time off, there's even MORE hours not worked. Many fathers even take paternity leave. So that accounts for many more.

    The new jobs being created are only a fraction of what people are really working. The polls that show hiring rates and unemployment rates are only taken from large companies. Never mind that many people take advantage of a layoff or even maternity leave to start their own business. They are never included in the polls.
     
  6. insein
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    insein Senior Member

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    In case you havent noticed what with being in your alternate reality as usual, these are not Bush Admin people speaking. These are economic experts speaking. Being as its their job to forcast trends, i put alittle more faith in their opinions then yours well every single time.
     
  7. tim_duncan2000
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    tim_duncan2000 Active Member

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    I guess he has just fallen for what the Democrats and liberals say about how much the economy sucks.
     
  8. jon_forward
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    jon_forward Active Member

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    If anybody but G.W was the sitting Prez you can bet the farm that bully would be tooting a different tune on his horn.
     

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