US economy grew at fast 5 pct. annual rate in Q3, best in 11 years

[Tom Joad]

There you have it.

Democrat in the White House = Good for America
Republican in the White = Bad for America

WASHINGTON (AP) -- The U.S. economy grew at a sizzling 5 percent annual rate in the July-September period, the fastest in more than a decade, fueled by higher consumer spending and business investment.

The resurgence in growth last quarter provided the latest evidence that the U.S. economy is steadily strengthening and outshining most others around the world. The news helped lift the Dow Jones industrial average above 18,000 for the first time, and it could shape the Federal Reserve's decision on when to raise interest rates from record lows.

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[finnbow]

And the Dow is over 18,000. It's all Obama's fault.

[BlueStreak]

Lies, lies.......all lies!!!! It can't be, Obama is destroying America, not helping it!!!!!!!!! Oh damn you for not hating him!!!!!!



Dave

[finnbow]

On March 6, 2009, former George W. Bush adviser Michael Boskin offered whatever the opposite of a prophecy is when he said that "Obama's Radicalism Is Killing the Dow." Now let's set the scene. Obama had been in office for less than two months at that point, and in that time, stocks had admittedly fallen a lot as markets worried that the big bank bailout known as TARP wouldn't actually be enough to save the banks. It got so bad that Citigroup briefly became a penny stock.

Boskin, though, didn't think that this once-in-three-generations financial crisis was to blame for the market meltdown. Instead, he blamed it on Obama for ... talking about raising taxes? "It's hard not to see the continued sell-off on Wall Street and the growing fear on Main Street," Boskin philosophized, "as a product, at least in part, of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy." What followed was the usual conservative jeremiad against higher taxes on the rich, lower taxes on the poor, and deficit spending. Obama's trying to turn us into Europe, and that's why markets are pricing in the possibility of a Great Depression—not the dying economy he inherited.

It was an obvious stretch, but it was extraordinarily ill-timed, too. You can see just how much in the chart below.



http://www.washingtonpost.com/blogs/...ed-in-history/

[noonereal]

Originally Posted by finnbow

And the Dow is over 18,000. It's all Obama's fault.

yes it is but i am not sure wĥy thîs is a goôd thing.

how are family incomes? down aren't they?

but thē casino is making money so i am happy?....

[finnbow]

Originally Posted by noonereal

yes it is but i am not sure wĥy thîs is a goôd thing.

how are family incomes? down aren't they?

but thē casino is making money so i am happy?....

It beats the hell out of the Dow going the other way, though it would be nice if the Dow's performance were reflected more broadly in the economy. A new WashPost article indicated that economists believe that this may be the harbinger of a significant economic expansion, the largest since late '90's.

http://www.washingtonpost.com/busine...c8b_story.html

Somehow, the GOP is going to now try to portray strong economic growth as a bad thing.

[donquixote99]

Originally Posted by finnbow

It beats the hell out of the Dow going the other way, though it would be nice if the Dow's performance were reflected more broadly in the economy. A new WashPost article indicated that economists believe that this may be the harbinger of a significant economic expansion, the largest since late '90's.

http://www.washingtonpost.com/busine...c8b_story.html

Somehow, the GOP is going to now try to portray strong economic growth as a bad thing.

Well, it's a bad thing for them, isn't it?

[finnbow]

Originally Posted by donquixote99

Well, it's a bad thing for them, isn't it?

Yep, but only if it happens under a Democratic administration. Just wait - It won't be long before they insist that Reagan or Dubya were somehow responsible for this growth.

[noonereal]

Originally Posted by donquixote99

Well, it's a bad thing for them, isn't it?

not after they steal ownership of it ... which they will

[whell]

All that Fed pumped QE money had gotta go somewhere. Wall Street is loving the windfall.



Finn - notice any similarities to your graphic above?