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raptorsfan
Joined: 16 Jul 2009
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 Posted: Fri Jan 29, 2010 6:05 pm Post subject: It's over ladies and gentlemen, it's over! |
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It looks like America's out of the economic recession as its economy grew by almost 6% in the 4th quarter of 2009.
I knew Obama would come through!
Where are the naysayers now?
It's time to hop on the Obama bandwagon folks!
http://news.bbc.co.uk/2/hi/business/8487611.stm |
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morrisonhotel
Joined: 18 Jul 2009
Location: Gyeonggi-do
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| Posted: Fri Jan 29, 2010 6:06 pm Post subject: Re: It's over ladies and gentlemen, it's over! |
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| raptorsfan wrote: |
Where are the naysayers now? |
Still here and still going strong until he closes Guantanamo, and so forth. |
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raptorsfan
Joined: 16 Jul 2009
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| Posted: Fri Jan 29, 2010 6:21 pm Post subject: |
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| Still here and still going strong until he closes Guantanamo, and so forth. |
Well, I don't know about Guantanamo, and other issues, but economically, he has done a remarkable job turning around the American economy. |
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Radius
Joined: 20 Dec 2009
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| Posted: Fri Jan 29, 2010 9:36 pm Post subject: Re: It's over ladies and gentlemen, it's over! |
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| raptorsfan wrote: |
It looks like America's out of the economic recession as its economy grew by almost 6% in the 4th quarter of 2009.
I knew Obama would come through!
Where are the naysayers now?
It's time to hop on the Obama bandwagon folks!
http://news.bbc.co.uk/2/hi/business/8487611.stm |
LMAO. DOUBLE-DIP anyone? |
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mistermasan
Joined: 20 Sep 2007
Location: 10+ yrs on Dave's ESL cafe
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| Posted: Fri Jan 29, 2010 9:56 pm Post subject: |
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| yes...the first ever in the history of humanity...the jobless recovery! |
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SeoulMan99
Joined: 02 Aug 2009
Location: Seoul
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| Posted: Fri Jan 29, 2010 10:01 pm Post subject: Re: It's over ladies and gentlemen, it's over! |
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| raptorsfan wrote: |
It looks like America's out of the economic recession as its economy grew by almost 6% in the 4th quarter of 2009.
I knew Obama would come through!
Where are the naysayers now?
It's time to hop on the Obama bandwagon folks!
http://news.bbc.co.uk/2/hi/business/8487611.stm |
LOL..I think rather we should be thankful that the economy recovered despite Obama. Presidents are often unnecessarily blamed and given credit for the economy which is mostly out of their control. Well, except when they decide to take populist rhetoric against those evil bankers and it causes the stocks to drop 6% and the market takes a nice short-term hit. In that case, I guess they can control the market. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Sat Jan 30, 2010 12:18 am Post subject: |
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Oooooo, several serious cases of Obama Derangement Syndrome.
I remember how gloomy everyone was last January. I don't remember anyone predicting that a year later the economy would post 5.7% growth. |
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ChopChaeJoe
Joined: 05 Mar 2006
Location: Seoul
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| Posted: Sat Jan 30, 2010 1:55 am Post subject: |
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| The rich get richer and the poor get children. Ten percent unemployment is the worst since Reagan. Some great economy. Downhill, with a couple bubbles, since 9/11. |
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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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| Posted: Sat Jan 30, 2010 2:10 am Post subject: |
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What he did is no different than a family maxing out their Visa Gold, Mastercard Platinum, and American Express cards to pay for several things they couldn't afford after dad lost his job.
Guess what. Dad still doesn't have a job. |
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4 months left
Joined: 07 Feb 2003
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| Posted: Sat Jan 30, 2010 3:37 am Post subject: |
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Only the 1st report...Q3 was first reported at 3.5%...then revised to 2.8% ... then the 3rd revision 2.2%. And if you believe gov't statistics then I got some swampland for sale for you.
Remember this is coming off an extremely low base so it's all relative. Deep downturns usually rebound with a 7-9% rate, so 5.7% is dissapointing... and most of this was inventory rebuild when companies mothballed most of their production.
If the U.S. were coming out of this, shouldn't gasoline consumption be rising?? It's not, it's down compared to last year when we were in the abyss. Are unemployment, layoffs and jobless claims improving??? They're not. |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Sat Jan 30, 2010 8:24 am Post subject: |
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Umm...
4th Quarter is the holiday season. For many businesses, the 4th quarter is when the business actually makes a profit for the fiscal year.
I'll make it simple for you:
There's a man and his wife. Man owns a toy store. He tells his wife, "HONEY! We made $30,000 this 4th quarter! We barely sold anything from January to October. Sure enough, November to January we sold a TON! Go figure. I wonder why that is? who cares! Looks like we'll repeat the $30,000 in sales in Quarter 1-3. Lets go buy that lakehouse on the beach, a new car for you AND me, and put out a loan for a yacht! We're RICH!
Its kinda like that. But, in reality land, it doesn't work that way. You can NOT repeat 4th quarter performance in the 1st quarter. In fact, some businesses actually change their fiscal year so that the holiday season doesn't skew their 4 quarter numbers.
http://search.finance.yahoo.com/news/Economy-likely-grew-faster-in-apf-3028347842.html?x=0&.v=9
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The economy boomed at the end of 2009, growing at the fastest rate in more than six years. Now if only it could keep it up.
The economy expanded at an annual rate of 5.7 percent in the fourth quarter, the second straight quarter of growth. But analysts warn it's unsustainable.
Consumer spending, chilled by double-digit unemployment and scant wage gains, remains weak. And the benefits of government aid and higher company output to feed stockpiles will dwindle.
Many analysts predict gross domestic product will expand at a rate closer to 2.5 to 3 percent in the current quarter and 2.5 percent or less for the year. |
Why do you think Analysts don't project a strong 1st and 2nd quarter in 2010? Because Christmas only comes once a year. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Sat Jan 30, 2010 2:40 pm Post subject: |
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Two straight quarters of growth. I'll take that over the alternative, which was a very real possibility 12 months ago. Is it time to pop the cork on the champagne bottles yet? Maybe not, but clearly things are turning up.
In the meantime, don't let good news interfere with your pessimism. |
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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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| Posted: Sat Jan 30, 2010 5:05 pm Post subject: |
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| Ya-ta Boy wrote: |
Two straight quarters of growth. I'll take that over the alternative, which was a very real possibility 12 months ago. Is it time to pop the cork on the champagne bottles yet? Maybe not, but clearly things are turning up.
In the meantime, don't let good news interfere with your pessimism. |
It's borrowed time, unfortunately.
How long could you go on filling your house with new furniture without paying for any of it? All Obama has done is throw a huge amount of money (Americans don't have) at the problem.
Do you pay off your credit cards, Ya-ta?
Personally, I think Americans need to seriously tighten their belts and taught to save rather than live off of credit. Borrowing huge amounts from China needs to end. Wal-mart's raping of small businesses with Chinese-made products needs to end. Local manufacturing and local people need to be supported. Environmentally-friendly businesses need to be grown and fostered. No more big-business bailouts. You say an airline or two might fail? GOOD! Maybe a new one will come along at cheaper operating costs.
Yes, times would be very difficult for a long time, but it would just have to be that way.
Otherwise, we just keep transferring our wealth to countries we inwardly know are our enemies: China, Saudi Arabia, other Middle-Eastern countries. When Americans began tightening their belts due to the recession, their natural enemies suffered a great deal -- even places like Iran, not to mention oil-bearing countries like Russia.
Is that entirely bad? |
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Mr. Pink
Joined: 21 Oct 2003
Location: China
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| Posted: Sat Jan 30, 2010 5:22 pm Post subject: |
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| bassexpander wrote: |
| Ya-ta Boy wrote: |
Two straight quarters of growth. I'll take that over the alternative, which was a very real possibility 12 months ago. Is it time to pop the cork on the champagne bottles yet? Maybe not, but clearly things are turning up.
In the meantime, don't let good news interfere with your pessimism. |
It's borrowed time, unfortunately.
How long could you go on filling your house with new furniture without paying for any of it? All Obama has done is throw a huge amount of money (Americans don't have) at the problem.
Do you pay off your credit cards, Ya-ta?
Personally, I think Americans need to seriously tighten their belts and taught to save rather than live off of credit. Borrowing huge amounts from China needs to end. Wal-mart's raping of small businesses with Chinese-made products needs to end. Local manufacturing and local people need to be supported. Environmentally-friendly businesses need to be grown and fostered. No more big-business bailouts. You say an airline or two might fail? GOOD! Maybe a new one will come along at cheaper operating costs.
Yes, times would be very difficult for a long time, but it would just have to be that way.
Otherwise, we just keep transferring our wealth to countries we inwardly know are our enemies: China, Saudi Arabia, other Middle-Eastern countries. When Americans began tightening their belts due to the recession, their natural enemies suffered a great deal -- even places like Iran, not to mention oil-bearing countries like Russia.
Is that entirely bad? |
I agree with you 100%. I don't get what they think is going to happen when there is no more credit to be had.
Unfortunately, corporate America only thinks about NOW, and not the future. They want profits NOW, growth NOW, its all about NOW NOW NOW.
If America started a propaganda machine that was opposed to consumerism and geared towards saving and paying off debts, it would take a generation of sacrifice, but after that, the country would be solid again. Instead, what is going to happen is the US will get so far into debt they will just tell their debtors like China. Sorry pal, we aren't paying our debts. They will do a Brazil. Can China really complain though? The US has made the country rich, it is only fair China give some of that wealth back in the form of the purchasing of government securities. |
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Forward Observer
Joined: 13 Jan 2009
Location: FOB Gloria
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