More economic good news! GDP rebounds 4%

[JimBowie1958]

Not a big surprise, we were expected to have a strong second quarter. Let's see how long it lasts.

Yes, two strong quarters are necessary to conclude we are out of the seemingly endless slump.

So by shifting good numbers to the second quarter, and over estimating the third, every recession can be brought to an end by pencil and eraser.

 

[pinqy]

Lie. The numbers will be revised down hugely in a few months when people have forgotten. Obummer and his drones do this every time.

I'd love to see you document that.

He actually has a great point. The numbers get touted as great before they are correct, then later people hear lower numbers but still remember not so long ago "good numbers." Most people have no idea what the numbers mean or even that 4% being revised down means we never were at 4%... They simply see lets say 3% and remember a 4% and think, good!

But the implication was that it is done on purpose as a deceptive measure. Which is certainly not true.

 

[KissMy]

 

[JimBowie1958]

When these charts reverse I'll believe the economy is better.

 

[KissMy]

When these charts reverse I'll believe the economy is better.

All your charts reversed under Bill Clinton's administration. Then Shrub was elected & disaster ensued. Your labor participation rate chart is useless in the retiring Boomer economy.

 

[edthecynic]

It's amazing how little Obama-bots grasp the dangers of spending 20-30 years worth of debt to float the economy today will impact the country. We will prolly not even balance the budget and defiantly not start paying down that debt before we hit another recession... Meaning we will have to borrow more and add to the future bills even more.

Again, we all recognize how stimulus does stimulate the economy, but it seems like the Obama-bots fail to realize that it's all done on debt, and that debt is a bill. We are paying something like 11% of all revenues collect to debt. We don;t even count the FED-R as debt despite counting the taxes collected on that stimulus as revenues, meaning when the FED stops dumping money into the system, revenues drop hundreds of billions a year... Pushing that annual debt back up.

What is the response to the FED's trillion dollar stimulus and what will happen when it stops from the left? The FED has wanted to slow it's involvement for a couple years now, but every time it even mentions a tapper the markets drop, and they didn't even cut anything.

A perfect example of why the Right is called the "No Information Voter"

Fed Cuts Monthly Asset Purchases To $45 Billion At April Meeting - Forbes

On Wednesday, the FOMC announced a fourth $10 billion reduction to its quantitative easing program, reducing its monthly bond purchases to $45 billion and keeping pace with earlier guidance. The Fed will cut monthly mortgage bond purchases to $20 billion from $25 billion. Treasury purchases will drop to $25 billion a month from $30 billion.

The stock market didn’t make any big moves following the release coming off of mixed signals leading up to the 2 p.m. release. Following the release The Dow Jones Industrial Average was up by about 0.09% and the S&P 500 was up close to 0.2%.

 

[bendog]

Which isn't to say I'd agree with Obama's spending proposals either. But five will get you ten most of these guys voted for bushii. ( I did, once.)

 

[auditor0007]

Economy rebounds to 4% growth pace in Q2
After terrible start to the year, the U.S. economy bounces back - Jul. 30, 2014

New data released Wednesday show the U.S. economy bounced back in the spring, growing at a 4% annual pace in the second quarter. That was even better than the forecast of 3% growth, according to a consensus of economists surveyed by CNNMoney.

Consumer spending, which alone accounts for about two thirds of U.S. economic activity, strengthened, as did exports to foreign countries and business investments.

American consumers spent more money on long-lasting goods like autos and furniture, and businesses invested more in technology and industrial equipment. Both can be seen as good signs that households and companies are more optimistic and investing in the future.



Great to see the first quarter numbers were not a trend

Anyone with any sense at all knew this was going to happen and that the first quarter contraction was strictly due to the horrible winter. Of course Republicans tried to use the poor first quarter results to their advantage. The Republican Party has become a complete disgrace. I can't believe more moderate Republicans have not completely abandoned the party yet.

 

[Zander]

You are the idiot who thinks GDP is the stock market

Sorry bub, you're economic ignorance is well documented ....

http://www.usmessageboard.com/polit...record-on-track-to-hit-17k-2.html#post9088887

http://www.usmessageboard.com/polit...w-record-on-track-to-hit-17k.html#post9088770

Sorry Z

Don't see where that does a thing to prove your point but it is still great to read another one of my outstanding posts

That thread proves beyond doubt that you are an economic illiterate who believes the stock market is "the economy".

 

[rightwinger]

Sorry bub, you're economic ignorance is well documented ....

http://www.usmessageboard.com/polit...record-on-track-to-hit-17k-2.html#post9088887

http://www.usmessageboard.com/polit...w-record-on-track-to-hit-17k.html#post9088770

Sorry Z

Don't see where that does a thing to prove your point but it is still great to read another one of my outstanding posts

That thread proves beyond doubt that you are an economic illiterate who believes the stock market is "the economy".

Where did I say the stock market was "the economy"?

It is one of many indicators that has broad reaching impact on many aspects of the economy/

 

[ScreamingEagle]

When these charts reverse I'll believe the economy is better.

All your charts reversed under Bill Clinton's administration. Then Shrub was elected & disaster ensued. Your labor participation rate chart is useless in the retiring Boomer economy.

over 100 million unemployed is nothing to sniff at.....alot of those boomers still need to work....

one of the best measures for well-being is net worth....the typical household is now worth one third less....when this improves we can say the economy is better....

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation.


http://www.nytimes.com/2014/07/27/business/the-typical-household-now-worth-a-third-less.html

 

[Zander]

I'd love to see you document that.

He actually has a great point. The numbers get touted as great before they are correct, then later people hear lower numbers but still remember not so long ago "good numbers." Most people have no idea what the numbers mean or even that 4% being revised down means we never were at 4%... They simply see lets say 3% and remember a 4% and think, good!

Please......document it. Lets look at the last 16 quarters and the revisions. shall we?

Here's a chart that shows the last 12 qtrs...

The average revision since the 1970's is over 1.5% per qtr - these early "estimates" are notoriously inaccurate...

 

[Toro]

Lie. The numbers will be revised down hugely in a few months when people have forgotten. Obummer and his drones do this every time.

I'd love to see you document that.

He actually has a great point. The numbers get touted as great before they are correct, then later people hear lower numbers but still remember not so long ago "good numbers." Most people have no idea what the numbers mean or even that 4% being revised down means we never were at 4%... They simply see lets say 3% and remember a 4% and think, good!

Last quarter was revised up from -2.9% to -2.1%.

 

[pinqy]

When these charts reverse I'll believe the economy is better.

All your charts reversed under Bill Clinton's administration. Then Shrub was elected & disaster ensued. Your labor participation rate chart is useless in the retiring Boomer economy.

over 100 million unemployed is nothing to sniff at.....alot of those boomers still need to work....

There's not even 10 million unemployed. You're counting 86,000 people, mostly retirees, disabled, students, and stay home spouses as unemployed. Then you're adding in people who couldn't take a job if offered, people who say they want a job but show no sign of doing anything about it. There's only about 2 million who are really likely to start looking.

 

[KissMy]

When these charts reverse I'll believe the economy is better.

All your charts reversed under Bill Clinton's administration. Then Shrub was elected & disaster ensued. Your labor participation rate chart is useless in the retiring Boomer economy.

over 100 million unemployed is nothing to sniff at.....alot of those boomers still need to work....

one of the best measures for well-being is net worth....the typical household is now worth one third less....when this improves we can say the economy is better....

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation.

You're an idiot. There is nowhere near 100 million unemployed!

Half the 18 million jobs Bush destroyed since the Clinton admin have been restored under Obama.

You idiots want house prices to increase. You do realize you are begging for inflation don't you?

 

[rightwinger]

All your charts reversed under Bill Clinton's administration. Then Shrub was elected & disaster ensued. Your labor participation rate chart is useless in the retiring Boomer economy.

over 100 million unemployed is nothing to sniff at.....alot of those boomers still need to work....

one of the best measures for well-being is net worth....the typical household is now worth one third less....when this improves we can say the economy is better....

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation.

You're an idiot. There is nowhere near 100 million unemployed!

Half the 18 million jobs Bush destroyed since the Clinton admin have been restored under Obama.

You idiots want house prices to increase. You do realize you are begging for inflation don't you?

He includes infants, handicapped, stay at home moms and 90 year olds in his 100 million "unemployed"

 

[Zander]

I'd love to see you document that.

He actually has a great point. The numbers get touted as great before they are correct, then later people hear lower numbers but still remember not so long ago "good numbers." Most people have no idea what the numbers mean or even that 4% being revised down means we never were at 4%... They simply see lets say 3% and remember a 4% and think, good!

Last quarter was revised up from -2.9% to -2.1%.

The full revision story (so far) =

1st estimate = + 0.1%
2nd estimate = negative 1%
3rd estimate= negative -2.9%
4th estimate = -negative 2.1%

Like I previously stated, these initial estimates are notoriously inaccurate....

 

[TemplarKormac]

You know what this does, right? Since the economy is 'improving', it becomes less of an issue for Democrats to hammer Republicans over. The better the economy is, the less of an issue it becomes politically. That's another arrow out of the quiver.

 

[TemplarKormac]

He actually has a great point. The numbers get touted as great before they are correct, then later people hear lower numbers but still remember not so long ago "good numbers." Most people have no idea what the numbers mean or even that 4% being revised down means we never were at 4%... They simply see lets say 3% and remember a 4% and think, good!

Last quarter was revised up from -2.9% to -2.1%.

The full revision story (so far) =

1st estimate = + 0.1%
2nd estimate = negative 1%
3rd estimate= negative -2.9%
4th estimate = -negative 2.1%

Like I previously stated, these initial estimates are notoriously inaccurate....

From those numbers, it looks like GDP is stagnant...

 

[rightwinger]

Last quarter was revised up from -2.9% to -2.1%.

The full revision story (so far) =

1st estimate = + 0.1%
2nd estimate = negative 1%
3rd estimate= negative -2.9%
4th estimate = -negative 2.1%

Like I previously stated, these initial estimates are notoriously inaccurate....

From those numbers, it looks like GDP is stagnant...

Its all the same quarter