Despite what the Democrats say - the economy is showing signs of recovery

Anyone notice that the price of oil this morning was down to $115 a barrel and the dollar had grown in strength? Typically when the dollar rises, oil falls, but I believe oil is also dropping because we as Americans have changed our spending habits, as echoed here:

Merrill Lynch North American economist David Rosenberg said U.S. consumers are starting to rein in their spending. "We are detecting early signs that a new pattern of spending behavior is taking hold in the aftermath of the housing, credit and oil shocks; it is called frugality. The trend towards essentials and away from discretionary," Rosenberg wrote in a note to clients. Rosenberg noted that air travel fell by 20% in the second quarter, while mass transit jumped 30.7% and spending on cars and SUVs fell 18.5%. Bicycle sales rose 4.4%.

There are other signs of economic growth happening also:

Consumer credit rose by $14.3 billion in June, indicating that there is definately some spending going on.

"This is definitely showing some level of spending activity on the part of the consumer following the fiscal stimulus bounce," Maxwell Clarke, chief U.S. economist at IDEAGlobal, told Bloomberg News. "The impact of the stimulus has put our problems off for tomorrow."

Source: articles.moneycentral.msn.com...

Hmmm. Maybe Bush knew what he was doing with the whole stimulus package after all, huh, despite all the poo-pooing from Democrats in Congress!

The Democrats would have us believe we're knee deep in a recession right now and only they can turn the nation's head-on collision with doom around. I beg to differ. In fact, one could argue that these hard times we've been through the last couple of years have made us an economically smarter, leaner nation. We've cut out a lot of unneeded spending and hopefully have learned a lot of valuable lessons.

Let's just hope the trend toward economic growth continues.

reply to post by sos37

Hmmm. Maybe Bush knew what he was doing with the whole stimulus package after all, huh, despite all the poo-pooing from Democrats in Congress!

It's funny how the 'stimulus package' is now Bush's idea once some signs of a turnaround are displayed. All of a sudden it is his great idea and the Dems had nothing to do with it. The Dems supported it but disagreed on the reasonings behind it.

Not a Dem here, just someone who is trying to figure out which side he wants to be associated with. Used to be the Republican side but I'm sadly ashamed of that past now.

So please elaborate on the poo-pooing from the Dems. As far as I could tell, they were simply saying that the checks were needed very much but that unfortunately the bulk of them would go to places like OPEC.

All economies recover. That's the nature of the game. However, there is also that point where the economy goes away. That has always happened too. Once that happens the nation disappears and becomes a mark in history. That's the threat facing us now. It ALL happened during the watch of the crooks in office now. They have sent this country sailing VERY close to a whirlpool that may eventually swallow the nation whole.

I beg to differ. In fact, one could argue that these hard times we've been through the last couple of years have made us an economically smarter, leaner nation. We've cut out a lot of unneeded spending and hopefully have learned a lot of valuable lessons.

Now this I can wholeheartedly agree with you on. If people will spend more thriftily because of this (myself being one of them) then it may very well be worth it. IF we can indeed get away from the 9 trillion dollar debt we have fallen into. You see, that's the biggest problem and the bulk of that debt occured on Bush's watch my friend. EVEN with a Republican run congress for the biggest part of his reign.

Originally posted by sos37
Anyone notice that the price of oil this morning was down to $115 a barrel and the dollar had grown in strength?

Yep and i also noticed the price of gasoline (atleast in my area) is still $3.89. I got the gas receipt to prove it.

Typically when the dollar rises, oil falls, but I believe oil is also dropping because we as Americans have changed our spending habits, as echoed here:

wait wait wait. We changed our spending habits. Wasnt that...a....democratic idea?...

Merrill Lynch North American economist David Rosenberg said U.S. consumers are starting to rein in their spending. "We are detecting early signs that a new pattern of spending behavior is taking hold in the aftermath of the housing, credit and oil shocks; it is called frugality. The trend towards essentials and away from discretionary," Rosenberg wrote in a note to clients. Rosenberg noted that air travel fell by 20% in the second quarter, while mass transit jumped 30.7% and spending on cars and SUVs fell 18.5%. Bicycle sales rose 4.4%.

YEP! Sounds anti-conservatism "go buy a hummer" to me.

There are other signs of economic growth happening also:

Consumer credit rose by $14.3 billion in June, indicating that there is definately some spending going on.

That is a good sign. Except that it is consumer credit. Remember...the little thing that helped get us here in the first place?

Hmmm. Maybe Bush knew what he was doing with the whole stimulus package after all, huh, despite all the poo-pooing from Democrats in Congress!

What Poo-poo'ing?

Senate republicans were a bigger obstacle than congressional democrats

As far as the democratic leaders go, check this out

on the stimulus vote:

Democratic presidential candidates Hillary Rodham Clinton of New York and Barack Obama of Illinois voted for the package. Republican presidential hopeful John McCain of Arizona missed the vote.

Source

HE MISSED THE VOTE!

The Democrats would have us believe we're knee deep in a recession right now and only they can turn the nation's head-on collision with doom around. I beg to differ. In fact, one could argue that these hard times we've been through the last couple of years have made us an economically smarter, leaner nation. We've cut out a lot of unneeded spending and hopefully have learned a lot of valuable lessons.

Let's just hope the trend toward economic growth continues.

Recession:

The standard newspaper definition of a recession is a decline in the Gross Domestic Product (GDP) for two or more consecutive quarters.

Source


By the simplest definition - no - our economy is not yet IN a recession. It is on track to be in a recession. So why all the hub-bub?

Should nobody make a big deal out of it until it actually happens?

How about a little bit of preemptive action from the Bush administration for a change on something OTHER than Iraq?

reply to post by sos37


Wait just a minute.


Recovering from what? What is the economy recovering from? As I recall the GOP said everything was fine. Bush said the economy was strong. And Phill Gramm said it was all in our heads.


Now you want to say the economy is showing recovery and the Dems won't admit it.

Hell, the GOP never admitted that the economy was having problems to begin with!

Puhleasse...

The Economy, I will grant you is on it's way back up. But this is a very very recent turn of events.

I'm thinking this is a band aid on a large wound,let's bring this issue up in like 6 months,all it takes is big money to manipulate the stock market,as quick as it goes in can come out just as fast,I'm thinking this is just the start,I remember recession in 80's

The economy improves as unemployment rises. Oil per barrel decreases as gas stays the same.

Is this the same kind of "the economy is doing better!" talk that we experienced in January when the statistics showed our economy improved in the 4th quarter of 07, then just recently they realized infact the economy had gotten worse, they just didn't tell us until OVER SIX MONTHS LATER?

funny how nobody can comment on Quazga's comment?

If the economy "is improving"

then i guess the democrats were right to begin with


silly conservatives

Lying's for kids.

[edit on 8/10/2008 by Andrew E. Wiggin]