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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: 29625
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.
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Begin Trace Mode for Comment # 48.
#1. To: All (#0)
(Edited)
And "the stimulus didn't work" argument comes to an end.
Of course the stimulus will cause the economy to pick up. There's no way around it. When you pump trillions into the economy it can't help but spur activity. Now, pretty quickly prices will rise to meet the new level of money. People don't seem to realize that just because more money is changing hands and just because financial markets are going higher that it doesn't mean that the economic situation is improving. If a rising GDP and a soaring stock market truly were strong indicators of economic health, then Zimbabwe would have been one of the strongest economies on the planet over the last 10 years. Inflation changes everything.
Only if demand takes off. Keep in mind conservatives have been predicting runaway inflation is just around the corner since 2009.
Only if demand takes off. That's simply not true. 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.
Wow. There's just no arguing with logic like that.
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:
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.
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.
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.
You mean if incomes won't rise to the rate of inflation then yes it would be.
You mean if incomes won't rise to the rate of inflation then yes it would be. 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.
I am pretty sure we are not being paid 1907 wages so wages did go up to meet inflation. 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.
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.
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.
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.
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.
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?
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
" 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. ;}
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#4. To: go65 (#1)
And "the stimulus didn't work" argument comes to an end.
#9. To: We The People (#4)
Now, pretty quickly prices will rise to meet the new level of money.
#11. To: go65 (#9)
Now, pretty quickly prices will rise to meet the new level of money.
#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.
#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.
#17. To: We The People (#15)
Wow.
#23. To: Godwinson (#17)
What I said was a little extreme because it was in jest but inflation would be welcomed.
#24. To: We The People (#23)
#26. To: Godwinson (#24)
Inflation is also a boon for the government and a tax on foreigners.
#28. To: We The People (#26)
That loaf of bread that used to cost $1.50 is now $3.00.
#31. To: Godwinson (#28)
That loaf of bread that used to cost $1.50 is now $3.00.
#33. To: We The People (#31)
Has income ever matched inflation?
#35. To: mcgowanjm, We The People (#33)
See a Dollar worth 1907 3 cents.
#36. To: Godwinson (#35)
#38. To: We The People (#36)
Now look into percentages.
#40. To: Godwinson (#38)
But you now admit incomes do change to meet inflation, right?
#41. To: mcgowanjm (#40)
#42. To: Godwinson (#41)
Incomes have changed to meet inflation
#43. To: mcgowanjm, go65, lucysmom (#42)
which is why we now have the greatest wealth disparity in world history now
#47. To: Godwinson (#43)
#48. To: All (#47)
Replies to Comment # 48.
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