More economic good news! GDP rebounds 4%

[LoneLaugher]

Measured on a quarter-on-quarter basis, GDP grew by 1%. That's good news? Seriously?

Sure it is. The street had 2.5% to 3.0%, we were secretly hoping for 3.2%, I posted that a couple of times here.

Given the current environment, all things considered, yeah, I'm likin' it.

In fact, had it been much higher, we may be seen a bond panic. The next two or three months will hopefully clear the fog.

.

The one piece of good news was that the 1st quarter GDP was revised to negative 2.1% from negative -2.9% That means they were only off by 2.2% from their initial estimate of +0.1%...

I am not excited about an initial estimate of +4%. It's kinda like calling a horse race after 1 furlong has been run.....don't tear up your tickets!!

If they are as accurate in Q2 as they were in Q1 this number will be revised down to +1.8%....

You can always hope!

 

[KissMy]

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.

read civilian employment-population ratio.....which today is only at 59.0%....

"The employment-population ratio of 57.9% in 1983 was up by the fifth year of Reagan’s recovery to 61.5%, on its way to 63.0% in 1989. That represented an increase of 17 million jobs since that recession started in July, 1981."

"But [today] the full reality is best understood by recognizing that over the past 8 years the U.S. working age population has increased by 19.3 million, but the number of jobs in America has grown by only 1.8 million during that time. That is what never recovering from the recession means in the real world."

After Five Years Of Obamanomics, A Record 100 Million Americans Not Working - Forbes

Baby Boomers entered the workforce in 1964. They should have remained there until 2011. Bush & the Republican Congress destroyed over 18 million jobs. The president with the absolute best jobs record in the history of the US was Bill Clinton. Clinton had 74% of the working age population employed. The second best was the first Bush just before he caused a jobs destroying recession at a distant 69%. A full 6% below Clinton. The second Bush caused 2 recessions & lost jobs his entire presidency. Clinton & Obama have never caused a recession. Regan, Bush 1&2 all caused job destroying recessions. Notice how the strongest job creation was from 1993 to 1995 when Democrats had control of the Senate, House & Presidency.

Employment of working age population is rising big time under Obama

 

[Zander]

Sure it is. The street had 2.5% to 3.0%, we were secretly hoping for 3.2%, I posted that a couple of times here.

Given the current environment, all things considered, yeah, I'm likin' it.

In fact, had it been much higher, we may be seen a bond panic. The next two or three months will hopefully clear the fog.

.

The one piece of good news was that the 1st quarter GDP was revised to negative 2.1% from negative -2.9% That means they were only off by 2.2% from their initial estimate of +0.1%...

I am not excited about an initial estimate of +4%. It's kinda like calling a horse race after 1 furlong has been run.....don't tear up your tickets!!

If they are as accurate in Q2 as they were in Q1 this number will be revised down to +1.8%....

You can always hope!

I am hoping it holds or goes higher (but I doubt it will). I want the economy to recover. Only fools believe that the POTUS controls the economy. Only bigger fools believe he is responsible for the rise and fall of the stock market. ....

 

[LoneLaugher]

The one piece of good news was that the 1st quarter GDP was revised to negative 2.1% from negative -2.9% That means they were only off by 2.2% from their initial estimate of +0.1%...

I am not excited about an initial estimate of +4%. It's kinda like calling a horse race after 1 furlong has been run.....don't tear up your tickets!!

If they are as accurate in Q2 as they were in Q1 this number will be revised down to +1.8%....

You can always hope!

I am hoping it holds or goes higher (but I doubt it will). I want the economy to recover. Only fools believe that the POTUS controls the economy. Only bigger fools believe he is responsible for the rise and fall of the stock market. ....

Has anyone ever accused you of saying one thing.....and secretly hoping for another?

I'm fairly observant. I don't believe that you want the economy to take off. You see....you said "will" in that comment above. Will be revised down. When...it could be revised up just as easily. Tsk tsk.

I know that the POTUS doesn't control the economy. ButbI also know that you know that a shitload of voting people think he does. So....you want it to tank. Period.

Why lie?

 

[Rozman]

So we are up 2% for the year so far.. Right?

 

[Sallow]

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.

read civilian employment-population ratio.....which today is only at 59.0%....

"The employment-population ratio of 57.9% in 1983 was up by the fifth year of Reagan’s recovery to 61.5%, on its way to 63.0% in 1989. That represented an increase of 17 million jobs since that recession started in July, 1981."

"But [today] the full reality is best understood by recognizing that over the past 8 years the U.S. working age population has increased by 19.3 million, but the number of jobs in America has grown by only 1.8 million during that time. That is what never recovering from the recession means in the real world."

After Five Years Of Obamanomics, A Record 100 Million Americans Not Working - Forbes

Baby Boomers entered the workforce in 1964. They should have remained there until 2011. Bush & the Republican Congress destroyed over 18 million jobs. The president with the absolute best jobs record in the history of the US was Bill Clinton. Clinton had 74% of the working age population employed. The second best was the first Bush just before he caused a jobs destroying recession at a distant 69%. A full 6% below Clinton. The second Bush caused 2 recessions & lost jobs his entire presidency. Clinton & Obama have never caused a recession. Regan, Bush 1&2 all caused job destroying recessions.

Employment of working age population is rising big time under Obama

Pretty amazing isn't it?

And conservatives have tried to take credit for the Clinton economy as well. By saying it was Gingrich working with Clinton that led to the prosperity.

But nothing could be further from the truth. Conservatives impeached Clinton.

Now? They have no claims at the credit. None. Quite the contrary. They have done everything they possibly could to sabotage the recovery.

And still do.

They just voted to "sue" Obama.

Amazing.

 

[Papageorgio]

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.

read civilian employment-population ratio.....which today is only at 59.0%....

"The employment-population ratio of 57.9% in 1983 was up by the fifth year of Reagan’s recovery to 61.5%, on its way to 63.0% in 1989. That represented an increase of 17 million jobs since that recession started in July, 1981."

"But [today] the full reality is best understood by recognizing that over the past 8 years the U.S. working age population has increased by 19.3 million, but the number of jobs in America has grown by only 1.8 million during that time. That is what never recovering from the recession means in the real world."

After Five Years Of Obamanomics, A Record 100 Million Americans Not Working - Forbes

Baby Boomers entered the workforce in 1964. They should have remained there until 2011. Bush & the Republican Congress destroyed over 18 million jobs. The president with the absolute best jobs record in the history of the US was Bill Clinton. Clinton had 74% of the working age population employed. The second best was the first Bush just before he caused a jobs destroying recession at a distant 69%. A full 6% below Clinton. The second Bush caused 2 recessions & lost jobs his entire presidency. Clinton & Obama have never caused a recession. Regan, Bush 1&2 all caused job destroying recessions.

Employment of working age population is rising big time under Obama

How did BushII cause a recession a month and a half into his Presidency? What policies did he put in place so fast it caused a recession that fast?

 

[birddog]

It's the weakest recovery from a recession since WWII. The average increase over the last five years is less than 2 1/2 per cent! Obama fails!

He cannot blame the Congress who has sent many bills to the Senate but Obama won't let the R bills be introduced and voted on! Obama is lying scum!

 

[rightwinger]

It's the weakest recovery from a recession since WWII. The average increase over the last five years is less than 2 1/2 per cent! Obama fails!

He cannot blame the Congress who has sent many bills to the Senate but Obama won't let the R bills be introduced and voted on! Obama is lying scum!

Which bills should be voted on and why?

 

[LoneLaugher]

It's the weakest recovery from a recession since WWII. The average increase over the last five years is less than 2 1/2 per cent! Obama fails!

He cannot blame the Congress who has sent many bills to the Senate but Obama won't let the R bills be introduced and voted on! Obama is lying scum!

Which bills should be voted on and why?

Come on, man. That ****** don't know. He thinks Obama is a Senator.

 

[Zander]

You can always hope!

I am hoping it holds or goes higher (but I doubt it will). I want the economy to recover. Only fools believe that the POTUS controls the economy. Only bigger fools believe he is responsible for the rise and fall of the stock market. ....

Has anyone ever accused you of saying one thing.....and secretly hoping for another?

I'm fairly observant. I don't believe that you want the economy to take off. You see....you said "will" in that comment above. Will be revised down. When...it could be revised up just as easily. Tsk tsk.

I know that the POTUS doesn't control the economy. ButbI also know that you know that a shitload of voting people think he does. So....you want it to tank. Period.

Why lie?

You're projecting again.

So what if I expect the 4% "Estimate" to be adjusted downward? Downward revisions of the 1st estimate are more common than upward revisions. That doesn't mean I want the "economy" to tank.

I own a business that employs people. I want a healthy economy. Period.

 

[Erand7899]

so........can we stop QE now.....?

Janet Yellen hasn't officially announced anything yet but the feeling is they'll stop it in October, and their excuse for tuning it so long was unemployment, not GDP.

I don't quite understand the right wings opposition to quantitative easing.

Instead of a tax cut for the ultra wealthy plutocrat, they got to take advantage of the cheapest cost of capital maybe ever.

And they made even more money from QE than they would have from a tax cut.

I thought Republicans were all for the ultra wealthy getting more ultra wealthy?

We are sold tax cuts for the ultra wealthy because they will trickle down and "create jobs".

We were sold QE because it would stimulate the economy and "create jobs"

Now what's the difference to hate one and not the other repubs? Neither worked.

The ultra wealthy are still making shit tons of money. And you all love that. Right? Money's good. More moneys more better? In the hands of the richest is best of all. Right wingers say so all the time.

Obviously, you neither understand economics, nor what Republicans say about economics. The ultra wealthy can take care of themselves, and will make money whether Democrats are in charge, or Republicans are in charge. Money, well invested, will make more money, and that simple fact is true, regardless of what your belief system is.

Jobs do not just materialize from a desire for a job. Someone, or some entity, that has money to invest, must invest in an enterprise that requires workers. More investment in enterprises that require workers, means more jobs, and better paying jobs. Consequently, the key to jobs is investment of capital in enterprise.

It should be no surprise to anyone with even an iota of common sense, that people and entities, who have money to invest, will invest where the investors believe that they can get the best return at the lowest risk to their investment capital. Duh! That could be here, or it could be anywhere else in the world. Consequently, the key to jobs in America, is to induce investors to invest here in America.

How do we do that? We attempt to create a very favorable economic playing field, here in America, that will induce investors from all over the world to want to invest here. Taxes, regulations, labor costs, labor skills, etc., are primary considerations on where to invest. Our labor costs are high, and our regulations are extensive, so what is left to improve the economic playing field? Taxes.

Now, that is not too difficult to understand, is it?

 

[LoneLaugher]

I am hoping it holds or goes higher (but I doubt it will). I want the economy to recover. Only fools believe that the POTUS controls the economy. Only bigger fools believe he is responsible for the rise and fall of the stock market. ....

Has anyone ever accused you of saying one thing.....and secretly hoping for another?

I'm fairly observant. I don't believe that you want the economy to take off. You see....you said "will" in that comment above. Will be revised down. When...it could be revised up just as easily. Tsk tsk.

I know that the POTUS doesn't control the economy. ButbI also know that you know that a shitload of voting people think he does. So....you want it to tank. Period.

Why lie?

You're projecting again.

So what if I expect the 4% "Estimate" to be adjusted downward? Downward revisions of the 1st estimate are more common than upward revisions. That doesn't mean I want the "economy" to tank.

I own a business that employs people. I want a healthy economy. Period.

We'll then, you sure fooled me! You are a colossal Debbie Downer, bro. As a business owner...I trumpet good news. I want good news to go viral. I want people out there opening their wallets. You? If so.....it ain't coming through.

 

[edthecynic]

And? How does that support you calling people who don't want a job, people who couldn't take a job if offered and people not trying York "unemployed?"

Well, you fail to see you are dealing with wordsmiths who mislead you. They do not say "unemployed" it is implied and most people will think "unemployed" but they actually say "not working."

I have no issue with Forbes, here. While a little sensationalist, there's nothing factually wrong. My complaint was with Screaming Eagle changing it from "not working" to "unemployed."

There I disagree, there would be no point to Forbes mentioning 100 million NOT WORKING except to DECEIVE born suckers like ScreamingEagle who read it "UNEMPLOYED," since it is totally irrelevant to the condition of the economy.

 

[KissMy]

read civilian employment-population ratio.....which today is only at 59.0%....

"The employment-population ratio of 57.9% in 1983 was up by the fifth year of Reagan’s recovery to 61.5%, on its way to 63.0% in 1989. That represented an increase of 17 million jobs since that recession started in July, 1981."

"But [today] the full reality is best understood by recognizing that over the past 8 years the U.S. working age population has increased by 19.3 million, but the number of jobs in America has grown by only 1.8 million during that time. That is what never recovering from the recession means in the real world."

After Five Years Of Obamanomics, A Record 100 Million Americans Not Working - Forbes

Baby Boomers entered the workforce in 1964. They should have remained there until 2011. Bush & the Republican Congress destroyed over 18 million jobs. The president with the absolute best jobs record in the history of the US was Bill Clinton. Clinton had 74% of the working age population employed. The second best was the first Bush just before he caused a jobs destroying recession at a distant 69%. A full 6% below Clinton. The second Bush caused 2 recessions & lost jobs his entire presidency. Clinton & Obama have never caused a recession. Regan, Bush 1&2 all caused job destroying recessions.

Employment of working age population is rising big time under Obama

Pretty amazing isn't it?

And conservatives have tried to take credit for the Clinton economy as well. By saying it was Gingrich working with Clinton that led to the prosperity.

But nothing could be further from the truth. Conservatives impeached Clinton.

Now? They have no claims at the credit. None. Quite the contrary. They have done everything they possibly could to sabotage the recovery.

And still do.

They just voted to "sue" Obama.

Amazing.

Republicans tried to make the US government default on debt payments. That would have destroyed the US dollar & jobs. spiked interest rates & inflation.

Notice how the strongest job creation was from 1993 to 1995 when Democrats had control of the Senate, House & Presidency.

 

[AvgGuyIA]

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

. A six year recovery! Whoopsie doozie! We're still in the hole. Next quarter will be tanking again.

 

[Dad2three]

Janet Yellen hasn't officially announced anything yet but the feeling is they'll stop it in October, and their excuse for tuning it so long was unemployment, not GDP.

I don't quite understand the right wings opposition to quantitative easing.

Instead of a tax cut for the ultra wealthy plutocrat, they got to take advantage of the cheapest cost of capital maybe ever.

And they made even more money from QE than they would have from a tax cut.

I thought Republicans were all for the ultra wealthy getting more ultra wealthy?

We are sold tax cuts for the ultra wealthy because they will trickle down and "create jobs".

We were sold QE because it would stimulate the economy and "create jobs"

Now what's the difference to hate one and not the other repubs? Neither worked.

The ultra wealthy are still making shit tons of money. And you all love that. Right? Money's good. More moneys more better? In the hands of the richest is best of all. Right wingers say so all the time.

Obviously, you neither understand economics, nor what Republicans say about economics. The ultra wealthy can take care of themselves, and will make money whether Democrats are in charge, or Republicans are in charge. Money, well invested, will make more money, and that simple fact is true, regardless of what your belief system is.

Jobs do not just materialize from a desire for a job. Someone, or some entity, that has money to invest, must invest in an enterprise that requires workers. More investment in enterprises that require workers, means more jobs, and better paying jobs. Consequently, the key to jobs is investment of capital in enterprise.

It should be no surprise to anyone with even an iota of common sense, that people and entities, who have money to invest, will invest where the investors believe that they can get the best return at the lowest risk to their investment capital. Duh! That could be here, or it could be anywhere else in the world. Consequently, the key to jobs in America, is to induce investors to invest here in America.

How do we do that? We attempt to create a very favorable economic playing field, here in America, that will induce investors from all over the world to want to invest here. Taxes, regulations, labor costs, labor skills, etc., are primary considerations on where to invest. Our labor costs are high, and our regulations are extensive, so what is left to improve the economic playing field? Taxes.

Now, that is not too difficult to understand, is it?

Right wing CRAP. Labor is number 1 reasons Corps offshore US jobs. IF they want to play in the US pay their taxes, currently EFFECTIVE tax rates of OECD nations, only Mexico and Chile have a lower effective rate!

US isn't starving for capital either

DEMAND is why jobs are created, as people with half a brain recognize, without demand, why invest?

 

[Dad2three]

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

. A six year recovery! Whoopsie doozie! We're still in the hole.

Yep, Dubya/GOP dug a DEEP and wide hole right?

WEIRD AFTER 8 YEARS OF DUBYA/GOP 'JOB CREATOR' POLICIES THE US SHOULD'VE BEEN BOOMING WHEN OBAMA CAME ON RIGHT? LOL

 

[Dad2three]

It's the weakest recovery from a recession since WWII. The average increase over the last five years is less than 2 1/2 per cent! Obama fails!

He cannot blame the Congress who has sent many bills to the Senate but Obama won't let the R bills be introduced and voted on! Obama is lying scum!

Weird WHY was a recovery needed? We had Dubya/GOP 'job creator' policies for 8 years? Why wasn't the US economy booming?

Dubya lost 1.2+ million PRIVATE sector jobs in 8 years (Feb 2001- Feb 2009) While since hitting Bush's bottom March 2010, there have been 10+ million PRIVATE sector jobs created

Bureau of Labor Statistics Data


OBAMA STOPS BILLS IN CONGRESS? lol

 

[Dad2three]

read civilian employment-population ratio.....which today is only at 59.0%....

"The employment-population ratio of 57.9% in 1983 was up by the fifth year of Reagan’s recovery to 61.5%, on its way to 63.0% in 1989. That represented an increase of 17 million jobs since that recession started in July, 1981."

"But [today] the full reality is best understood by recognizing that over the past 8 years the U.S. working age population has increased by 19.3 million, but the number of jobs in America has grown by only 1.8 million during that time. That is what never recovering from the recession means in the real world."

After Five Years Of Obamanomics, A Record 100 Million Americans Not Working - Forbes

Baby Boomers entered the workforce in 1964. They should have remained there until 2011. Bush & the Republican Congress destroyed over 18 million jobs. The president with the absolute best jobs record in the history of the US was Bill Clinton. Clinton had 74% of the working age population employed. The second best was the first Bush just before he caused a jobs destroying recession at a distant 69%. A full 6% below Clinton. The second Bush caused 2 recessions & lost jobs his entire presidency. Clinton & Obama have never caused a recession. Regan, Bush 1&2 all caused job destroying recessions.

Employment of working age population is rising big time under Obama

How did BushII cause a recession a month and a half into his Presidency? What policies did he put in place so fast it caused a recession that fast?

Talked about gutting US revenues, like Ronnie did?