And our GDP is..............

[DavidS]

I say -1.5%

 

[DavidS]

It's only down -1%!! They expected -1.5%.

 

[bugs]

our manufacturing base has been destroyed.. our economy is a joke!

 

[DavidS]

our manufacturing base has been destroyed.. our economy is a joke!

Well, since this isn't the Industrial Revolution anymore, manufacturing in the US isn't anywhere near as important as it used to be. Our manufacturing base became destroyed in the late 1960s and early 1970s.

This is why we have such a huge trade deficit.

 

[bugs]

our manufacturing base has been destroyed.. our economy is a joke!

Well, since this isn't the Industrial Revolution anymore, manufacturing in the US isn't anywhere near as important as it used to be. Our manufacturing base became destroyed in the late 1960s and early 1970s.

This is why we have such a huge trade deficit.

so the trade deficit is unimportant? WTF?

 

[DavidS]

our manufacturing base has been destroyed.. our economy is a joke!

Well, since this isn't the Industrial Revolution anymore, manufacturing in the US isn't anywhere near as important as it used to be. Our manufacturing base became destroyed in the late 1960s and early 1970s.

This is why we have such a huge trade deficit.

so the trade deficit is unimportant? WTF?

Yes - it's unimportant. It just shows we import more than we export. It holds no baring on the state of our economy.

 

[Toro]

Consumer spending dropped more than expected. Government spending rose 11% and accounted for the upside.

 

[editec]

our manufacturing base has been destroyed.. our economy is a joke!

Well, since this isn't the Industrial Revolution anymore, manufacturing in the US isn't anywhere near as important as it used to be. Our manufacturing base became destroyed in the late 1960s and early 1970s.

Important to whom, exactly?

I'd say the thirty or fourty million people who don't have decent paying industrial jobs think its still pretty important.

And given that they are working for pissant wages (if they're lucky) and don't pay any taxes becauseof that, it's important to anyone who makes enough to have to make up for their lost taxes, too.

America is going broke thanks in good part to free trade.

This is why we have such a huge trade deficit.

You seriously don't understand why that's bad in multiple ways for this economy?

I gave you more credit than that, Dave.

 

[elvis]

Well, since this isn't the Industrial Revolution anymore, manufacturing in the US isn't anywhere near as important as it used to be. Our manufacturing base became destroyed in the late 1960s and early 1970s.

This is why we have such a huge trade deficit.

so the trade deficit is unimportant? WTF?

Yes - it's unimportant. It just shows we import more than we export. It holds no baring on the state of our economy.

the GDP equation disagrees with you.

 

[Oddball]

Consumer spending dropped more than expected. Government spending rose 11% and accounted for the upside.

Keep them printin' presses a-rollin'!!

 

[Toro]

Consumer spending dropped more than expected. Government spending rose 11% and accounted for the upside.

Keep them printin' presses a-rollin'!!

No fucking kidding.

The Dow is up 50% in four months and oil has more than doubled.

We haven't learned a thing.

A-fucking'-mazing.

 

[Oddball]

We've learned all we need to know.

But for the masses most of this crap is over their heads, and the politicians don't give a shit about anything other then the next election.

 

[bugs]

We've learned all we need to know.

But for the masses most of this crap is over their heads, and the politicians don't give a shit about anything other then the next election.

it is stunning the number of stupid people living in america today...

 

[Chris]

We are still a great nation.

We are going to be fine.

 

[Oddball]

Speaking of fucking stupid.

 

[elvis]

Speaking of fucking stupid.

Yeah, he's like Herpes, he keeps coming back.

 

[Chris]

Speaking of fucking stupid.

You shouldn't talk about yourself that way.

No...wait.....

Maybe, you should.

 

[Paulie]

Soon as the media gives the proverbial all clear signal to go ahead and spend again, we'll begin our journey once again towards the next big bust.

Next one's gonna be a doozy. This one was tame, believe me.

 

[elvis]

Soon as the media gives the proverbial all clear signal to go ahead and spend again, we'll begin our journey once again towards the next big bust.

Next one's gonna be a doozy. This one was tame, believe me.

how long do you think it will take to bust?

 

[Oddball]

Soon as the media gives the proverbial all clear signal to go ahead and spend again, we'll begin our journey once again towards the next big bust.

Next one's gonna be a doozy. This one was tame, believe me.

how long do you think it will take to bust?

Inflation will go nuts as soon as spending velocity picks up, that's for sure.

As for the bust, that's anyone's guess.