Article Source: msnbc.com
from:msnbc.comStocks rose sharply after a new report showed the nation's economy grew 5.7 percent during the fourth quarter -- the fastest growth rate since 2003.
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UHHHHHHH,,,,,,don't know where they got their figures but I would put this in the column "B.S." and I think we all know what thay means.
People are laid off and surplus is sold off. How is that good for the economy? The only way it could be worse is if no one was buying the surplus.
There is an illusion in the numbers. Tell me something believable like peddle cars are out running corvettes.
Even the market that has little do to with our economy is not believing the fools gold being touted; decreasing inventories on already decreased production combined with the already decreased workforce shows faux numbers of plus vs. minus...
Wait for the revisions, the surges, the plummetting, the unexpected rise or fall of consumer sentiments and what's been said 2 hrs. ago by political talking heads........... just make sure you take motion sickness pills first, and smoke a fattie. Perhaps some will start to believe and stomach this.
Exactly, consumer confidence(main street, and wall street alike) has been increasingly lowered by the constant lies coming from Oblahblah, and his biased Media buddies! It doesn't take a genius to figure that out!
...and yet the business world is taking this "B.S." seriously.
In economic tough times, things always look the worst before the recovery begins. I'm betting (hoping) the economy will outperform the expectations of economists (and of Randy Voss). In addition to making it easier to get or find a job, it will send some of the more maniacal Obama-bashers searching for a new problem to hang around his neck.
but we have got to stop running out the door thinking the sun is shininning / or storming every time these dumd ass reporters want to put a spin on things.
we have absolutly got to stop being so gullible
and totally need to quit being "loyal to fault"
It's not a matter of being gullible, or of being loyal. Everybody is hungry for new information on the economy, peering into the future, hoping for good news, fearing a bad sign.
None of us, not Obama, not John McCain, nor the recently elected junior senator from Massachusetts know with certainty what the new year will bring. So we hang on each new economic pronouncement.
BTW: I'm not a huge fan of Obama. I think, for instance, that he has focused entirely too much of the nation's energy on Health Care when the economy was clearly more important, and the most charitable assessment I can make of the bill winding its way throught congress is that if it is represents good progress on the issue, it has been very poorly explained to the public.
But despite my misgivings about Obama, I do get tired of people hanging this issue around his neck. The economy is his problem, but he did not cause our current troubles. The roots of our troubles reach back to the first half of the decade, when we became dependant on a real estate frenzy to keep our economy humming and used lax financial oversight as a means to prolong the madness. But back in 2004 and 2005, nobody, not Bush, not Barney Frank, not John Kerry wanted to address these issues. Nobody wanted to stop the party. well now [cue the music]...
I agree with much of what you say, dman, and believe me, I'm NOT a fan of Bush.... also, not Obama. I see few differences in the great scheme. Bush did, however, attempt to stop or at least retard the housing mess in 2003, but was ignored by Congress AND the Illegal Fed Reserve.
ModerationInAllThings - You'll have to refresh my memory on that item, as I don't remember him pushing for housing-financing reform and anyway, if he couldn't get it done in 2003, with both houses of congress firmly in the Republican camp, then his incompetence was truly remarkable.
Your trailing remark regarding the "Illegal" Federal Reserve is interesting. How is an institution specifically set up by an act of congress illegal?
The GDP report was positive but there is allot of negatives worldwide. Greece might default and if countries defaulting start to become bigger countries all this GDP news becomes academic. This is not a normal reccesion this might be the start of a depression if it isn't allready. Suppsedely the FED stops currency swaps with foreign central banks on Feb 1st, that was the only thing propping up the US dollar this past year on FOREX. Very interesting times ahead.
Japan is due to default. Greece will look like a bounced twenty five dollar check when that happens.
Yeap Japan is bigger then Greece.
Sunny-1543905 banned, comment spamming.
There are agents at play who's sole purpose is to make the economy appear to be gently falling, the best way to achieve their goal is to somehow make the numbers at one time jump and then deflate, revisions and float talking heads to disseminate misinformation is one of their tools. It is not an easy task but it has been performed in other areas such as theaters of war (wag the dog).
It is necessary to employ the above tactics otherwise the economy would be in free fall and this would be adverse and make the situation more dire than it already is.
The economy is falling and no amount of GDP will make up for the 10 million (conservative) unemployed at this time. It is time to face reality... Factories have gone and so in order to re-employ the workforce we need to re-build the infrastructure, this is not taking place at this time. To now compete with where we offshored the jobs (furniture manufacturing etc) we would need to hire workers willing to work for less wages than in the past, again this is a reality. In fact let's look at it this way. We are for the most part and foreseeable future going to be locked into a service type industry growth with service type wages until we either become more viable as an innovator or that the unemployed number drops to a point where employers need to employ incentives to those they seek to hire.
Sorry but the above are actual facts unfortunately our liver lillied politicians are frightened or too ignorant to tell you so.
Business is afraid of the neo-Socialist agenda.
Ooops! I need to revise my projections from below 10,000 by next Friday to Monday. 5800 by end of year 2010.
Paul B--1120948--------------I must make sure I don't come to you for financial advice!!!
Heaveto - that-a-boy! Keep thinking positive and everything will be fine. Have a glass of Kool-aid while your in here.
Obama's agenda and recent attack on the banks has everyone nervous . Combined with the incredible debt our government is in , it is frightening . Yet Obama will gladly share how he has saved our country from ruin.
This man is a menace to our economy !
Totally manipulated by the big players on Wall Street. Ordinary Americans who have money in the market are being played. Would never invest in the "Markets". Crazy if you do.
After Browns win the DOW is down 600 points and its not banks pulling out, it's people like me who don't trust the GOP to take care of my wealth.
Huh???
GDP 5.7=2.2 - new math? When they FINALLY publish the REAL figures then we will know how the economy is doing - NOT what the administration WANTS us to think!
I think they have Louis Farrakhan doing their math.
Louis - "you see, 5.7 is the height of the average black man, and when you take that number and multiply it by the number of our people who have returned to New Orleans and are in productive jobs, you have 2.2. So, you will see that 2.2 is the actual annualized GDP, which also means that it is 5.7 at the same time."
Al Sharpton - "Hallelujah."
Jesse Jackson - "Have a lube job!!!"
Oh get real, do any of you read the money section? Every time there is even a hint that the American dollar might be gaining some strength the market falls. What part of Wall Street is working against the working Americans do you NOT get? They make their money betting against us, NOT for us.
Always be wary of accountants! GDP may have risen, but it has been clear for years that they measure the wrong things, or, to put it another way, the are measuring something some accountant has titled "GDP", but that does not provide a good and high fidelity reflection of what is truly happening in the American economy.
One number always has very limited value. Even the crooks on Wall Street get that!
Investors are not quite as BS prone to Obamas rhetoric when they are putting real money into the system while Obama is putting other peoples real money into the system. This whole growth is completely bogus. Companies are still drawing down inventories and not yet adding. This draw-down has slowed and the slowing has been counted as growth. The real numbers are 2.2% annualized. Amazing what Obamas "Magical Job Growth" math can do when applied to other things.
What update GDP data? The false data every economist has noted OBAMA put out yesterday?
Might be important to look into the fact that Obama is Manipulating Historical Economic Data so His Economy Doesn't looks so bad. The news including CNN, MSNBC and Washington Post are fully aware of this President Obama is asking his people to revise down the economic numbers from past years so his economic numbers today don't look quite as bad as they are in reality. Because Obama predicted that the economy would begin to come out of its recession by the end of this year, he's got to deliver, especially since so many private sector economists blasted his team's predictions as pie in the sky.
Just ignore the men who are revising economic data behind the curtain including MSNBC and CNN.
Luvenia48------you are perfectly right--------the only thing that makes the market go up or down is the opportunity to make money by betting on the right side. Friday the market went down and I made money. The biggest enemy of traders on Wall Street is if the market doesn't move----going up or down is GREAT!! ------------and the "brainwashed keep talking about investing----you don't invest in the market, you speculate."
The last time we had an anti-business, anti-capitalism president in 1977, the market went up the first year IN SPITE of the president. You know the rest of the story.
The market dropped because everyone knows (except the leftist Obamanites) that the GDP report is a bucket of shiite. DOW will reach 5800 by November 2010.