U.S. Economy Growing at Fastest Pace of the Year - Bloomberg
The U.S. economy may end 2011 growing at its fastest clip in 18 months as analysts increase their forecasts for the fourth quarter just a few months after a slowdown raised concern among investors.
Economists at JPMorgan Chase & Co. (JPM) in New York now see gross domestic product rising 3 percent in the final quarter, up from a previous prediction of 2.5 percent. Macroeconomic Advisers in St. Louis increased its forecast to 3.2 percent from 2.9 percent at the start of November, while New York-based Morgan Stanley & Co. boosted its outlook to 3.5 percent from 3 percent.
“The incoming data on consumption, business spending and residential investment all point to GDP growth in the fourth quarter tracking 3.3 percent,” said John Herrmann, senior fixed-income strategist at State Street Global Markets in Boston.
You guys actually get worse at your propaganda! You'd think with all of the lying and spin you guys do, you would get better at it at some point - but nope!
Fact: Barack Hussein has added more to the US debt (about $6 trillion) in less than 3 years than all other US presidents
combined in their first 3 years.
Fact: In doing so (spending like an idiot), he "promised" unemployment would never hit 8%. It's been above 9% for almost his entire term.
Fact: Healthcare costs have actually risen sharply since Barack Hussein forced his unconstitutional healthcare bill down the throats of the American people, despite his "promise" that it would lower costs.
Fact: The economy has been a complete disaster ever since this unqualified Marxist Community Organizer took office.
Fact: Like his debt, Barack Hussein hit another record with his poll numbers - now the lowest for any president in US history - including the previous record holder, Jimmy Carter.
This is epic failure, the likes of which the US has never seen before. And even devout liberals have recognized this Marxist failure for what he is. Only the hard core nut-job Communists/Marxists/Socialists like LiesMatters here still defend this failure of a community organizer.
Such silliness....
Wall Street destroyed the economy with their $516 trillion dollar derivatives Ponzi scheme.
Obama saved the country from another Great Depression, rebuilt GM, reformed healthcare, reformed Wall Street, doubled the stock market, created 7 straight quarters of GDP growth, created 19 straight months of private sector job growth, got Bin Laden, got Gaddafi, and got us out of Iraq.
And now with the automatic spending cuts and the expiration of the Bush tax cuts in 2012, Obama has solved the deficit problem as well.
Obama has done a very good job.
"Obama saved the country from another Great Depression" - nobody is interested in radical left-wing nut job opinions Chris. Lets talk facts. This absurd statement is as "silly" (as you like to say) as claiming that "George W. Bush saved the country from a take over of aliens the likes of which would have rivaled War of the Worlds" and then hail him as a savior for doing so. The fact is, Barack Hussein has created the next Great Depression with the $15 trillion debt he gave us - debt that can and will collapse this nation.
Rebuilt GM? Rebuilt GM? Did you seriously just say "Rebuilt GM"?
Again, your sad opinion. We should hail George W. Bush for saving Wall Street with his bail out then! George W. Bush stopped another great depression! Even if that were true - it's not the government's job to rebuild GM! But why would an anti-American Communist who has never read the Constitution know that?
Reformed Wall Street? Um, no - he killed the economy and jobs for American's with his anti-Capitalist bill that punishes business for doing what they are supposed to do - make money. Again, wouldn't expect a Marxist like you or Barack Hussein to understand. You should really read a bill like the Frank-Dodd Finance Reform bill before you comment on it, because it makes you look like a complete fool. Allow me to enlighten you son:
• First and foremost, it does nothing to address the problems with Fannie Mae and
Freddie Mac. Those two helped create the housing mess and then needed a $125
billion bailout, which they haven't even scratched the surface on a payback. (So much for "reform" uh? Too bad you don't know what's going on before you comment).
• It creates a special protected class of "too big to fail" firms. In section 113, a
"Financial Stability Oversight Council" is established, which will choose the firms
deemed too big to fail. Hmm, can you think of any other massive financial
institutions that don't care if they fail because they know they will be bailed out by
the government? Fannie and Freddie. So not only is this bill not doing anything to
stop Fannie and Freddie, as they continue to lose hundreds of billions of taxpayer
dollars, this bill will create more of them.
• Provides for seizure of private property without meaningful judicial review. The
secretary of the treasury can order the seizure of any financial firm that he finds
"in danger of default." Again, a bureaucrat arbitrarily getting to make the
distinction to just take over a financial firm whenever they feel like it. And, once
the decision is approved, it's nearly impossible to reverse.
• This Financial Stability Oversight Council, they've got nine regulatory authorities
out there and this expands the reach outside of just financial firms. They can
declare if a non-bank financial firm (insurance, finance companies, hedge funds)
are "in trouble." And guess what? They can turn it over to the treasury for
regulation. Again, this distinction is completely arbitrary and comes from
bureaucrats.
• Opens a line of credit to the treasury for additional government funding. Guess
who's irrelevant? You are, Congress! No more begging those pesky politicians for
billions of dollars, like with TARP. No, we'll just skip that and tap the ATM.
• Regulators can guarantee the debt of solvent banks as well. If there is a 'liquidity
crisis' ...
• The bill creates a new "Bureau of Consumer Financial Protection." They just want
to "protect" consumers. Uh-huh. This bureau will have broad powers to limit what
financial products and services can be offered to consumers.
(This is so weird, as I was reading that sentence I couldn't help but think of
Congressman Anthony Weiner trying to "protect consumers" from Goldline. You
can go to weinerfacts.com for more on that.) It's supposed to help, but it will only
reduce choices and likely make credit more expensive and harder to get. It also allows them to track all of your financial transactions, just to "protect you."
• Non-financial firms would be subject to financial regulations. Listen to how broad
this is: Section 102 defines a "non-bank financial company" as a company
"substantially engaged in activities... that are financial in nature." Aren't all
companies financial in nature? Sure, bakeries are making cupcakes and bread, but
isn't that financial in nature?
lol
