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Foreign Invaders crisis cost $150B in 2023, forcing some areas to cut police and fire services: report Israel kills head of Hezbollah Intelligence. Status: Not Logged In; Sign In United States News See other United States News Articles Title: U.S. economy picked up speed as 2010 ended Source: Reuters URL Source: http://www.msnbc.msn.com/id/41310447/ns/business-eye_on_the_economy/ Published: Jan 28, 2011 Author: Reuters Post Date: 2011-01-28 09:12:30 by go65 Keywords: None Views: 29237 Comments: 52 WASHINGTON — The U.S. economy gathered speed in the fourth quarter, though a touch below expectations, with the biggest gain in consumer spending in more than four years and strong exports offering the clearest signals yet that a sustainable recovery is under way. Even with growth quickening, however, progress reducing unemployment has been painfully slow, and the report on U.S. gross domestic product on Friday is little comfort for millions of unemployed Americans or the Federal Reserve officials on a jobs-creation vigil. The economy grew at a solid 3.2 percent annual rate in the final three months of 2010, the Commerce Department said, after expanding at a 2.6 percent pace in the third quarter. The rise was a touch below economists' expectations for a 3.5 percent rate. For the whole of 2010, the economy grew 2.9 percent, the biggest gain since 2005. The economy contracted 2.6 percent in 2009. Click for Full Text! Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest Comments (1-11) not displayed.       .       .       . #12. To: We The People, go65, lucysmom, mcgowanjm (#6) It's not progress, it's inflation and more debt. The economy picking up after a massive infusion of cash is a false indicator. It's simply re-inflating an artificial bubble. That's like saying someone in the hospital should not be kept alive with feeding tubes or breathing machines until they recover because its a false indicator of health/life. Dr Krugman in a series of opinion articles lays the case the Federal govt needed to do more stimulus. Because when private business is not hiring (and is in fact firing) and those who still have a job are not spending (the unemployed can't spend much) then who will pick up the slack in this consumer economy? The economy is on life support until businesses and consumers go back to normal functions of hiring, handing out raises and the people spending. What is crazy is that the Republicans if McCain won would have done EXACTLY what Obama did via the stimulus maybe even more so. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   9:53:23 ET  Reply   Trace   Private Reply   #13. To: We The People, go65 (#11) It's mathematically impossible for trillions of new money in the system to not cause prices to go up. Inflation would be good for homeowners. If we get inflation to Weimar Republic levels people can pay off their fixed mortgage with one pay check. Sadly, what I am hearing fears of is deflation not inflation. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   9:55:53 ET  Reply   Trace   Private Reply   #14. To: Godwinson (#12) The economy is on life support until businesses and consumers go back to normal functions of hiring, handing out raises and the people spending. That won't happen as long as they have the Obamanomics sword of Damocles over their head. They are not going to extend themselves only to be screwed by Kenyancare, Kenyan cap and tax, etc. no gnu taxes  posted on  2011-01-28   9:56:23 ET  Reply   Trace   Private Reply   #15. To: Godwinson (#13) Inflation would be good for homeowners. If we get inflation to Weimar Republic levels people can pay off their fixed mortgage with one pay check. Sadly, what I am hearing fears of is deflation not inflation. Wow. There's just no arguing with logic like that. We The People  posted on  2011-01-28   9:59:11 ET  Reply   Trace   Private Reply   #16. To: Godwinson (#12) That's like saying someone in the hospital should not be kept alive with feeding tubes or breathing machines until they recover because its a false indicator of health/life. Again, no arguing with logic like that. Dr Krugman in a series of opinion articles lays the case the Federal govt needed to do more stimulus. Dr. Frankenstein just needed more electricity, so he harnessed lightning. We The People  posted on  2011-01-28   10:00:47 ET  Reply   Trace   Private Reply   #17. To: We The People (#15) Wow. There's just no arguing with logic like that. What I said was a little extreme because it was in jest but inflation would be welcomed. See link: "The Fed will be comforted if inflation is rising," said Dean Maki, chief U.S. economist at Barclays Capital in New York. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:02:11 ET  Reply   Trace   Private Reply   #18. To: Godwinson (#12) What is crazy is that the Republicans if McCain won would have done EXACTLY what Obama did via the stimulus maybe even more so. Bingo! You're exactly right. That IS crazy! We The People  posted on  2011-01-28   10:02:33 ET  Reply   Trace   Private Reply   #19. To: Godwinson (#17) "The Fed will be comforted if inflation is rising," said Dean Maki, chief U.S. economist at Barclays Capital in New York. Why do you continue to listen to the same economic geniuses that have brought the world to the brink of collapse? Doing the same thing, over and over again, and expecting different results, is insanity. We The People  posted on  2011-01-28   10:05:19 ET  Reply   Trace   Private Reply   #20. To: Godwinson (#12) It's not progress, it's inflation and more debt. The economy picking up after a massive infusion of cash is a false indicator. It's simply re-inflating an artificial bubble. That's like saying someone in the hospital should not be kept alive with feeding tubes or breathing machines until they recover because its a false indicator of health/life. "That's like saying someone in the hospital should not be kept alive"... Had this happen and the nurse (that would be you, Godwin;} saying I'm cruel to just turn off the Life Support (and increase the morphine) just like that. And I just looked at the nurse, dumbfounded (for an instant) and then launched. My wife calmed me after the first sentence. She called in the Head nurse. The first nurse was transferred out of ICU. The Reason for All the Above. The Patient was ALREADY dead. And that's what you're not getting, Godwin. It's a Zombie Economy now. Extend and Pretend while the Top 50 000 pretend they're getting ever more wealthy and powerful (doing neither, btw;}. mcgowanjm  posted on  2011-01-28   10:06:05 ET  Reply   Trace   Private Reply   #21. To: mcgowanjm (#20) Extend and Pretend LOL! Great term. We The People  posted on  2011-01-28   10:08:28 ET  Reply   Trace   Private Reply   #22. To: mcgowanjm, We The People (#20) It's a Zombie Economy now. Extend and Pretend while the Top 50 000 pretend they're getting ever more wealthy and powerful (doing neither, btw;}. I hear ya. I would have loved a nationalized economy or to do what Argentina's workers did and take over closed factories and run them as collectives but I live in the here and now not I don't want to wait for an idealized situation. We don't know if we are a coma economy or a zombie economy just yet. Being in a coma with a chance of recovery is better than the living dead though. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:20:10 ET  Reply   Trace   Private Reply   #23. To: Godwinson (#17) What I said was a little extreme because it was in jest but inflation would be welcomed. See link: "The Fed will be comforted if inflation is rising," said Dean Maki, chief U.S. economist at Barclays Capital in New York. Sorry, I think and speak literally. When someone makes a post like yours, sarcastic, using hyperbole, I take it literally. I'd much prefer honest, two way dialogue where we say exactly what we mean. And OF COURSE the Fed will be comforted. They are our lender. We The People  posted on  2011-01-28   10:27:25 ET  Reply   Trace   Private Reply   #24. To: We The People (#23) What I said was true regarding inflation being good for home owners - hough young ones over older ones. http://seniorjournal.com/NEWS/Retirement/6-12-19-RichRetirees.htm Rich Retirees Big Losers, Young Homeowners Big Winners in Inflation Inflation is also a boon for the government and a tax on foreigners. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:29:05 ET  Reply   Trace   Private Reply   #25. To: Godwinson (#22) Being in a coma with a chance of recovery is better than the living dead though. What we need is a massive cut in spending, stop printing new money, and allow the market to adjust naturally, without government intervention. And yes, it will be painful, but not as painful as the inevitable destination we will arrive at if we stay our present course. We The People  posted on  2011-01-28   10:29:49 ET  Reply   Trace   Private Reply   #26. To: Godwinson (#24) Inflation is also a boon for the government and a tax on foreigners. Inflation is a tax on us all. That loaf of bread that used to cost $1.50 is now $3.00. That's a 100% hidden tax. We The People  posted on  2011-01-28   10:31:19 ET  Reply   Trace   Private Reply   #27. To: Godwinson (#22) We don't know if we are a coma economy or a zombie economy just yet O yes we do. I've been detailing it since Bear, Lehman, BofA forced to take insolvent Merrill lynch. And when it started May 2005 PO and Arkansas Lumber Mills shut down state wide. Since Apr 09 Housing is down 3.3 % with ALL of the desperation of the Imperial City throwing trillions to keep them up. And the stock Markets up 100%. "Being in a coma with a chance of recovery is better than the living dead though." That's right. But back to 'my patient'. She had full blown Alzeimers' and then a heart attack. The husband (same age) didn't notice. She was sleeping on the sofa as he watched a tv ball game. The husband then called his son, who then called EMT's. Who then 'revived' her. And that's how she ended up in the ICU with 'life support' instead of at the morgue where she shoulda been. See the analogy? mcgowanjm  posted on  2011-01-28   10:31:23 ET  Reply   Trace   Private Reply   #28. To: We The People (#26) That loaf of bread that used to cost $1.50 is now $3.00. You mean if incomes won't rise to the rate of inflation then yes it would be. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:32:08 ET  Reply   Trace   Private Reply   #29. To: Godwinson (#24) http://seniorjournal.com/NEWS/Retirement/6-12-19-RichRetirees.htm Rich Retirees Big Losers, Young Homeowners Big Winners in Inflation No link that you can provide will convince me that inflation is good for anyone except the bankers. We The People  posted on  2011-01-28   10:32:34 ET  Reply   Trace   Private Reply   #30. To: mcgowanjm (#27) Like I said. I am all for nationalizing the economy all day long. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:32:48 ET  Reply   Trace   Private Reply   #31. To: Godwinson (#28) That loaf of bread that used to cost $1.50 is now $3.00. You mean if incomes won't rise to the rate of inflation then yes it would be. Has income ever matched inflation? We The People  posted on  2011-01-28   10:37:21 ET  Reply   Trace   Private Reply   #32. To: Godwinson (#30) Like I said. I am all for nationalizing the economy all day long. Well that's what we've been doing since Summer 2007. We're now moving to collapse. As the Imperial City refuses to allow states to Bankrupt. And states refuse to allow cities to bankrupt. mcgowanjm  posted on  2011-01-28   10:42:28 ET  Reply   Trace   Private Reply   #33. To: We The People (#31) Has income ever matched inflation? LMFAO. Exactly. The Entire purpose of Inflation is theft. See a Dollar worth 1907 3 cents. I noted way back when that Defense was Always budgets at 6/7% above inflation. Just peg a $ to a gallon of gasoline. Simple. mcgowanjm  posted on  2011-01-28   10:45:17 ET  Reply   Trace   Private Reply   #34. To: mcgowanjm, We The People (#33) Has income ever matched inflation? If people don't show up for work until it does it will. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:48:13 ET  Reply   Trace   Private Reply   #35. To: mcgowanjm, We The People (#33) See a Dollar worth 1907 3 cents. I am pretty sure we are not being paid 1907 wages so wages did go up to meet inflation. In 1907: The average wage in the U.S. was 22 cents per hour. A competent accountant could expect to earn $2,000 per year, a dentist $2,500 per year, a veterinarian between $1,500 and $4,000 per year, and a mechanical engineer about $5,000 per year. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:51:11 ET  Reply   Trace   Private Reply   #36. To: Godwinson (#35) Now look into percentages. We The People  posted on  2011-01-28   10:52:20 ET  Reply   Trace   Private Reply   #37. To: mcgowanjm (#32) We're now moving to collapse. As the Imperial City refuses to allow states to Bankrupt. Why do you want to hurt the workers who would be destroyed by this move? Why do you want the states to not pay their debts? When they could raises taxes on the parasite rich and have a balanced budget doing so. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:52:40 ET  Reply   Trace   Private Reply   #38. To: We The People (#36) Now look into percentages. But you now admit incomes do change to meet inflation, right? Cost of living increases are part of the law and can be used to offset any percentage differences. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   10:55:12 ET  Reply   Trace   Private Reply   #39. To: Godwinson (#34) If people don't show up for work until it does it will. Want to re phrase that? Anyway, Egypt is the fulcrum of our ME policy. Wonder who will invade to take the Suez Canal? "Forget the irrelevant inventory accumulation... pardon... GDP number. The real news today is coming from Egypt, where history is currently being made and a regime is in the process of being overthrown despite the unprecedented country-wide internet shutdown. The fallout from today's riots will be momentous. Follow all the news in real time from Al Jazeera." mcgowanjm  posted on  2011-01-28   11:00:14 ET  Reply   Trace   Private Reply   #40. To: Godwinson (#38) But you now admit incomes do change to meet inflation, right? No. And that's the problem. Why have inflation if everyone is keeping up with it? And that's why the FedRes is looking extremely naked right now. We're down to so few who are able to benefit off the CyberZombieWealth created. While the Bottom 98% are getting crushed. mcgowanjm  posted on  2011-01-28   11:07:14 ET  Reply   Trace   Private Reply   #41. To: mcgowanjm (#40) Incomes have changed to meet inflation - your going on about the % of change though? Because clearly we are not being paid in 1907 wage levels. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   11:19:18 ET  Reply   Trace   Private Reply   #42. To: Godwinson (#41) Incomes have changed to meet inflation which is why we now have the greatest wealth disparity in world history now 1974 the most equality ever in the US. From then on. PATCO destroyed and loans replace wage gains. Housing was the last bit of equity laeft to the Bottom 90%. Now that's all gone. Nothing to show for it. And Deflation would help ALl but those in debt. mcgowanjm  posted on  2011-01-28   12:17:29 ET  Reply   Trace   Private Reply   #43. To: mcgowanjm, go65, lucysmom (#42) which is why we now have the greatest wealth disparity in world history now 1974 the most equality ever in the US. That devastating wealth inequality is due to Reaganomics not inflation. What was the inflation rate in 1974? 11.03%!!!! The rich tricked Americans with the promise of greed into accepting an economic program that let the rich pay less on the back of the poor and middle class and predictably the rich got richer and there was no promised trickle down. In fact the rich worked less, got compensated more for work (even if they failed - golden parachutes) while America's salary earners earned less, worked more hours and lost their jobs to outsourcing. They busted the unions because they said work would go overseas if the unions did not cave. Unions caved and they took jobs overseas anyway, SUCKERS!!! The rich oligarchs slashed work forces and cut wages even as they were making greater profits. Why? Because now compensation was linked to stock market options and the stock market loves when workers are fired - the more workers off the payroll the better so CEOS fired people not to be competitive but to fill their bank accounts. What hid this all was this promise of upward mobility to the post 70s generation by Reaganomics and they swindled us all dry. The Republican oligarchs became so powerful in breaking the New Deal image that the Democrats adopted the oligarchic plan with Clinton. And we still have fools on here in the GOP defending this because of the mind job Reaganomics did on them. How can they now admit they worshiped a false god? "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-01-28   12:28:39 ET  Reply   Trace   Private Reply   #44. To: Godwinson (#12) That's like saying someone in the hospital should not be kept alive with feeding tubes or breathing machines until they recover because its a false indicator of health/life. Good analogy. Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson lucysmom  posted on  2011-01-28   13:15:06 ET  Reply   Trace   Private Reply   #45. To: no gnu taxes (#14) They are not going to extend themselves only to be screwed by Kenyancare, Kenyan cap and tax, etc. Both were originally Republican ideas (that was back in the days when Republicans had ideas). Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson lucysmom  posted on  2011-01-28   13:18:11 ET  Reply   Trace   Private Reply   #46. To: We The People, Godwinson (#15) Inflation would be good for homeowners. If we get inflation to Weimar Republic levels people can pay off their fixed mortgage with one pay check. Sadly, what I am hearing fears of is deflation not inflation. Wow. There's just no arguing with logic like that. A decade ago, when debt didn't matter, many conservatives argued that inflation was good because we could pay off the debt with inflated dollars and a devalued dollar would make our products more attractive in the global marketplace. It is also true that deflation is viewed as worse than inflation (though deflation would be good for me). Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson lucysmom  posted on  2011-01-28   13:25:10 ET  Reply   Trace   Private Reply   #47. To: Godwinson (#43) Couldn't have typed it better. The amount of manure spread over it tells you all you need to know. They won't stop until they can't go any further. Israeli reacts to Egyptian developments ""Having said that, I'm not sure the time is right for the Arab region to go through the democratic process," he adds." (thanks Noor) Posted by As'ad at 2:32 PM Email This BlogThis! Share to Twitter Share to Facebook Share to Google Buzz mcgowanjm  posted on  2011-01-29   8:47:09 ET  Reply   Trace   Private Reply   #48. To: All (#47) " Tyranny thrives by feeding on human necessity. It examines what sustains us, what we hope for, what we desire, what we love, and uses those needs as leverage against us. If you want safety, they will take it away and barter it back to you at a steep price. If you want success or respect, then you must bow to the existing arbitrary pecking order and play the game nicely. If you want to raise a family, then you must accept the state as a part-time parent. If you want kinship, then you must settle for a thin veneer of empty pleasantries and insincere associations. If you want independence, then you are simply labeled as a threat and done away with altogether. Autocratic rulers are first and foremost salesmen; they convince us that life itself has a “cost”, that we are born indebted, and all bills must be made payable to the establishment. First and foremost, we are sold on the idea that in all of this, we are ultimately alone… It is within these manipulated concepts of cost and isolation that we discover the foundation of all totalitarian cultures: Collectivism. " Zerohedge gets it. ;} mcgowanjm  posted on  2011-01-29   9:38:20 ET  Reply   Trace   Private Reply   #49. To: lucysmom (#46) (Edited) A decade ago, when debt didn't matter, many conservatives argued that inflation was good because we could pay off the debt with inflated dollars and a devalued dollar would make our products more attractive in the global marketplace. I would have to argue that conservatives were NOT arguing those points, but neoconservatives were. Neo's are far to the left of conservatives. I would argue that conservatives were the one's saying inflation was bad, debt does matter and the dollar being devalued is never good for anyone except the globalist bankers. We The People  posted on  2011-01-29   10:39:37 ET  Reply   Trace   Private Reply   #50. To: lucysmom (#46) It is also true that deflation is viewed as worse than inflation As viewed by whom? The same Keynesian economic geniuses who have brought us to this point? We The People  posted on  2011-01-29   10:42:41 ET  Reply   Trace   Private Reply   #51. To: lucysmom (#46) conservatives argued that inflation was good Produce a reference that quotes a conservative who argued that. Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery. -- Winston Churchill jwpegler  posted on  2011-01-29   10:44:18 ET  Reply   Trace   Private Reply   #52. To: lucysmom (#46) It is also true that deflation is viewed as worse than inflation (though deflation would be good for me). It's all artificial market manipulation and central planning. We The People  posted on  2011-01-29   10:46:39 ET  Reply   Trace   Private Reply   Top • Page Up • Full Thread • Page Down • Bottom/Latest

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