Economy's rebound not as strong as first thought

Economy's rebound not as strong as first thought

apnews.myway.com

WASHINGTON (AP) - The economy grew at a 2.8 percent pace last quarter, as the recovery got off to a slower start than first thought.

The Commerce Department's new reading on gross domestic product wasn't as energetic as the 3.5 percent growth rate for the July-September period estimated just a month ago.

The main factors behind the downgrade: consumers didn't spend as much, commercial construction was weaker and the nation's trade deficit was more of a drag on growth. Businesses also trimmed more of their stockpiles, another restraining factor.

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Why is it that government numbers always start off high and get a lot of attention from the msm but are then revised downward with only a modest mention from their propaganda arm? Sounds like an agenda to me.
Anyway, who really believed that we grew at 3.5%? That number was inflated by the trillions in printed money that are being used to artificially prop up the economy. We are not in a recovery and things are not getting better for the average American. I think when all is said and done the REAL growth rate is actually closer to zero or possibly solidly entrenched in the negatives.

Note: My apologies if this was reported already. I tried to use ATS's search feature but it wasn't working for me...just gave me an error message.


apnews.myway.com
(visit the link for the full news article)

The only thing that has been growing is the imports that nobody in the nation can buy because is not money spend.

Sad that the only recovery we have seen is for all those that took TARP money and those that are still taking it, the only ones been stimulated by the stimulus is the Asian nations and China.

The rest of the nation is falling into chaos.

Those are the numbers I heard on the reports. I didn't hear anything inflated. The administration has been telling us all along it is going to be a long painful slow process, the only people who haven't heard him are the anti obama squad.

reply to post by marg6043


You are right about the Asian nations. I really don't know how politicians expect the "stimulus" to stimulate the U.S. economy when we don't produce anything. Every damn thing is made in China or other Asian countries. It makes me so mad that I can't buy anything with a "Made in USA" sticker on it...well not everything, I bought a pack of rubber bands last week that are made in the States so I know we can still cut rubber into strips

reply to post by nixie_nox


This is not about anti obama "squad" because those losing homes and jobs happen to be anybody.

This about deceptions, corruption and lies, what do you expect after pumping trillions into the markets and the too big to fail corrupted institutions? numbers will look good for the markets.

But what you have to look at is the rest of the nation, the bread and butter of the economy that is base no on industrial output but on spending and consumerism.

If spending and consumerism falls so the nations economic and the so call recovery is nothing but an illusion of liquidity thanks to tax payer, the same tax payers that now are losing their jobs and means of income.

You're kidding!? Really? It's not strong? Gee you could have fooled me. Not.

Do they really think that convincing people that the economy is strong again is going to be any easier than convincing them that it was in trouble? Same types of holdouts are going to muck up their works this time as they did last time. You know the ones...the I'll-believe-it-when-it-effects-me-directly crew! Only now everyone's just a little more suspicious and cautious. And maybe angry.

Economy's rebound not as strong as first thought

Geeeeee, you think???? The only reason there was any growth is because of the 1 percent in the highest pay bracket and the bum citizens that never depended on earned income, you know they livee in the ghetto and drive Hummers but all the houses look like crack houses and they all have mag wheels, the life sucking blood of this country, the welfare kings and queens, whom also got a big boost into their accounts to grease the economy, This happened in the state of NY for sure, it's posted here in ATS somewhere. Yeah, that's the only thing keeping any increase going at all.

Oh, and by the way? They tried this same message (the economy is better) in all the other G20 countries as well, with pretty much the same results (oops nobody's buying it...t's not).

reply to post by LiquidMirage



the BLS stastictics are fraudulent...& weighted for the propaganda of the regime in office...
the Trash-for-clunkers spurred the surge of manufacturing,
the completely unsound 'Birth-Death' model of business activity, is a hoot,

the only 'Recovery' under way is of the Financial Sector... their bonuses are growing larger and expanding to include the lower tier elites & executives...
but for MainStreet, & the endangered MiddleClass... the recovery is Promised to be starting after Quarter 2 of 2010...
but first the unemployment will slow (Quarter 4, '09)
then slowly begin to reverse (Quarters 1 & 2, '10)
and continue to rehire at a rate of less than 50,000 per month for several Quarters ~ or into the year 2012,
Until 2012 there will still be millions which are 'disadvantaged' or 'unemploy-able' .... under the new standards.


~ here is a 'forecast' of future condition~>

'Qualified' unemployed will be a new category from the Gov't BLS..
which will statistically erase a lot of the people on the current high-unemployment rolls
(to better conform to the Administrations' rosy picture)
- be prepared to take a 'Test' to determine if One is = 'Qualified Unemployed'...
if you don't pass the test a 50$ food stamp voucher, and a boot-out-the-door will be your safety-net, no more extension$ nor original claim$
(as early as Spring 2010)



[edit on 24-11-2009 by St Udio]

All Government statistics are misleading. This isn't the fault of one President or another, it is the fault of the entrenched bureaucrat. These are the people who don't change jobs every four or eight years. This is where the real power is at. Forget the President or Congresscritter, when you start getting down to about the third or fourth tier in Government, that's where the real power is at.

reply to post by St Udio


I believe that the "rehired" will be in the eyes of the beholder and lets add the statistics sugar coated numbers.

Unemployment will raise and then fall because no more unemployment benefits to be pay out, good for the government figures but bad for those without jobs.

Still companies have learn to profits and boots profits with less work force so "hiring per say" will be a very shady business.

We had yesterday in the news the greatest news stories in my pitiful welfare city raking one of the highest poor cities in the nation that a new foreign company is coming to take over the empty many industrial buildings of the long gone era for assemble line of tires after cooper tires closed its doors unexpectedly last year leaving their employees jobless right before the holidays, but a big company with only hiring 20 people?, for such a big building, either they are bringing employees from another area or the entire assemble line is Robotics and only 20 employees to manage the robotics.

This smells fishy, such a big story and only 20 people to be employed


I can see already the thousands to show up for only 20 jobs, is going to be a mad house and the police will be all over.

reply to post by marg6043

We had yesterday in the news the greatest news stories [...] that a new foreign company is coming to take over the empty many industrial buildings of the long gone era for assemble line of tires after cooper tires closed its doors unexpectedly last year leaving their employees jobless right before the holidays, but a big company with only hiring 20 people?, for such a big building, either they are bringing employees from another area or the entire assemble line is Robotics

Or else the Foreign company is just buying the industrial complex of buildings....for pennies on the (ever less valuable) USD.
They are buying real Assets, instead of stocks, bonds, forex dollars.

perhaps the foreign investors will eventually rehabilitate/retrofit the former CooperTire plant... but who knows.

Keep in mind that the USA is putting new Tarriffs on tires from China...
( which makes one wonder the reason CooperTire vacated in the 1st place)

reply to post by St Udio


We are still wondering about that one, but the news around are that they relocated to Mexico.

But I know that another company in Ga was in the news because they got TARP money, but what they did was to replace their workforce with robots and now they operate with minimum employees.

I find that very deceiving take tax payer money and replace their workers with robots, at least they don't have to pay health insurance under the Obama health care.