Economy SOARS in 4th quarter of '09

[Bluebear]

Economy soars 5.7 percent in Q4, fastest in 6 years

WASHINGTON (Reuters) - The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest pace in more than six years, as businesses reduced inventories less aggressively, the Commerce Department said on Friday.

The first estimate put fourth-quarter gross domestic product growth at its fastest pace since the third quarter of 2003. The economy expanded at a 2.2 percent annual rate in the third quarter.

Analysts polled by Reuters had forecast GDP, which measures total goods and services output within U.S. borders, growing at a 4.6 percent rate in October-December period.


http://www.reuters.com/article/idUSN1416882220100129

[Are_grits_groceries]

1. All the Rethugs just ran for the bathrooms! nt

[SpiralHawk]

24. "Noooooooo." - Republicon Party of No Nothing

"We want America to FAIL." - Rush DraftDodger Limbaugh (R - Leader)

[babylonsister]

2. Rec'd. nt

[blindpig]

3. Big fucking deal....

where are the jobs? Such numbers mean nothing to the unemployed.

[Are_grits_groceries]

4. One thing that is unfortunately true

is that jobs are a lagging indicator. They are the caboose. Hopefully, Obama will get a jobs package passed to push them more towards the front.

Would you rather have no growth or a negative GDP?

[Name removed]

6. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Jokerman]

17. Many DUers have differing opinions.

That doesn't necessarily make them "freepers" or "so far left they want the entire system to fail".

[laughingliberal]

29. Thank you. nt

[babylonsister]

8. $33B jobs package unveiled today...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x159986

[DisgustedInMN]

12. Excellent..

.. when can I start? When's my first payday?

[DisgustedInMN]

32. Is that crickets I hear?

Funny, how to those that either have employment or don't need it, it just plain doesn't sink in that talk and hope don't pay the mortgage. I tried to pay my truck payment with "patience," they said they only take money...

[blindpig]

14. More trickle down...

we know how well that works.

How about some government jobs programs? That is how you provide relief to the unemployed, more jobs and faster too. This is a windfall for so-called small business though I doubt it will mean squat to the mom&pop operators.

[babylonsister]

19. You would complain about just about anything. If it's a windfall for

small businesses, it will be a windfall for employees who will be hired. As someone looking for a job, this makes me hopeful. Sorry you're so set on negative.

[blindpig]

23. And you...

would call shit 'ice cream' if this administration did it.

[Yuugal]

26. +1

[madrchsod]

21. oh no.... we can`t do what fdr did...

that`s so last century!

[blindpig]

10. What does it matter...

if tens of millions are out of work?

[groundloop]

15. It DOES matter

Before companies decide to hire they have to see a NEED to hire. If all projections are for declining sales in the near future they won't be hiring. If, on the other hand, if the economy is looking up, as we are starting to see, businesses will be more inclined to add workers.

I've been through several of these, and it's the same scenario each time. Stock market starts moving upward, economic indicators improving, and then finally unemployment eases.

I'll add that my employer is experiencing increasing sales, so from my perspective things are looking up.

[blindpig]

22. It seems that for many companies outsourcing is more profitable

even well meaning people must bow to that imperative or they are out of the game. Capitalism is remorseless like that.

[livetohike]

5. You're right, but this is a big fucking deal, if you knew anything

about economics at all instead of singing the blues. It's a good sign that companies have "turned the corner" and may start hiring now.

[madokie]

11. And there will alway be the unemployed

so whats the point :hi:

[blindpig]

16. Yes, the poor will always be with us.......

a self-fulfilling prophecy from those who a satisfied with the status quo.

[maryf]

33. +1

[leftstreet]

35. +1

[madrchsod]

7. for some strange reason this is the first thing i thought of.....

http://www.youtube.com/watch?v=s62MrU8mHx4&feature=related

i guess i`m being a bit more cynical in my old age...

[KharmaTrain]

9. But Will It Sustain???

The run-up in the markets throughout the year put money back in investor's pockets and helped ease the downward pressure on the economy. Overall 2009 was a stable year...compared with '07 and '08 where the collapse of the housing bubble and rising oil prices combined to all but shut down this country's economic base. No surprise we saw a rise as money (much of it TARP bailout bucks) began to work their way back into the economy.

For many this is of little solice as this didn't mean more jobs, but it also refelcted a rebound...a hitting bottom that was needed before any real growth can begin. But since December, the market has remained flat...hovering around 10,500. We are still seeing companies in major financial distress and this also is hurting any job creation and long-term recovery. Now cutting federal spending that would go to fuel local economies could really hurt. Thus I read these numbers with a high degree of cynicism.

[madrchsod]

13. it won`t sustain....

there is no change in trade policies. without addressing trade policies millions will never find work.

[KharmaTrain]

27. It Goes Further Than That...

In short...everyone is broke...government, business and with it means little captial to build or expand. The credit crunch adds to the problems as does the large amount of consumer debt that has limited the number of people who can buy while millions only buy what is needed...no longer maxing out the cards.

Trade is a major issue but only as it pertains to American corporations that have offshored jobs and money...eliminating a lot of competition through being able to flood the market with low cost foreign stuff and this has destroyed our commerce infrastructure. I've long favored a tarrif on goods imported by an American company (such as Wally World) that are sold on the American market equal to what it would cost to manufacture and produce the same product here...taking away the incentive to outsource. Also some low cost loans ahd anti-trust legislation favoring small business would go a long way as well.

We can't reverse the global market and should embrace it, but not let American corporates take advantage of getting lost cost labor at the expense of the American worker. Sure would be nice to have a stronger labor movement.

[madrchsod]

30. but those republican governor candidates are going to save our state!

if one of those clowns gets elected the state will be a bigger disaster than it is now. this week the social agency my wife works for has been cutting workers because the state owes them close to 2 million.

[KharmaTrain]

31. The Downside Of A Primary Challenge...

I have to agree that the dirt being thrown around by Quinn and Hynes are turning off a lot of voters and will play into the GOOP's hands. My kids are teachers and already are hearing that their school districts will have to let go of teachers next year (and they're at the bottom of the food chain), the other day Chicago cancelled its 4th of July fireworks and more and more state offices are having "moritorium days"...either closed or only open for half days.

Yep...the budget is a mess...but, of course, but people will blame the Democrats (thanks Blago) and not look at what caused this entire mess...boooosh's tax cuts for the rich meant the states collected less as well along with having to pay for a ton of unfunded mandates (no child left standing...err behind). I've always like Pat Quinn but he's in a no-win situation and things will get worse when there's no stimulus money to cover up the shortfalls.

In a way I'd like to see the GOOP win as it will focus light back on the inept shitstains that made this mess...but I am sure they'll only make things worse.

:hi:

[jb24]

18. It won't. It can't

It's a one off inventory bounce.

But even stripping out inventories, the economy expanded at an annual rate of 2.2 percent, accelerating from the 1.5 percent increase in the third quarter, reflecting relatively strong performance from other segments of the economy.

And that is comparing the revised figures for 3Q with the initial figures just released today. Obviously it's better than negative growth, but it's still pretty weak.

[madrchsod]

20. wait till the public sector jobs crash.....

[tom_paine]

25. That's just our $13 trillion being funneled back into the Ponzi scheme

reinflating the least productive and most criminal sction of our economy...finance.

The Corporations and the M$M that serves them will be pleased. More misinformation to keep the Plebs confused.

May God help our descendants for what we have allowed to happen.

[DisgustedInMN]

28. Shhhh...

.. we're not supposed to notice such things. Don't let it get out that the largest % of our GDP, is made by assholes that never produce a fucking thing, but merely move piles of money around and sip drinks by the pool.

[Foo Fighter]

34. Oh sure, blame it on the financial sector when everyone knows that the

entire financial meltdown was caused by the poor and working class. It's obvious they were trying to live above their means, carelessly throwing their money away on frivolous things like food, housing, and medical care. Will they never learn?

The financial sector, OTOH, has been an absolute model of responsibility, demonstrating that hard work does indeed pay off. Each and every one of them earned their 6-or-7 figure bonuses because they provide a valuable service that keeps our economy going. Er, except for that little glitch awhile back that exposed them for the complete frauds that they are when the bill for their Ponzi scheme came due and they didn't want to pay so the government stepped in and decided they didn't have to and that the taxpayers would foot the bill but hey, nobody's perfect! C'mon! Give Wall Street a break already!

[leftstreet]

36. Welcome to DU!

:applause:

[Foo Fighter]

39. Thanks!

Just saying what had to be said. ;)

[Warren DeMontague]

37. Bad News? WUR DOOMED! Good News? WUR DOOOOMED!

DOOOOMED! DOOOOOOMED! DOOOOOOMED! :hide:

[TexasObserver]

38. The GOP hates good economic news.

They know that with the stock market significantly recovered, with productivity increasing, new jobs should follow. They don't want anyone getting a job. They want maximum pain for Americans from now until November.