CNN US growth accelerates to 2.5% ‎ CNN Says There Will Be No Double Dip Recession

Originally posted by marg6043
reply to post by Agent_USA_Supporter

 

Oh, yes the economy did grow, for the top 1% of the population, you know the filthy rich in the nation. Now lets ask the 17 million unemployment in the nation what they think about the great news of Economic growth.

Thats right the economy grow for the rich but didnt the economy grow for the rest of us, I guess that then makes CNN the 1% since they always make news reports on the weathly familes.

Only have to look at high economic growth in India, and then observe the widespread poverty throughout the country. That should provide a clear indication of where the US is rapidly headed.

reply to post by haarvik

Which country are you from?

The U.S.

Because the US economy is anything but better.

You guys have zero understanding of how the business cycle works. The key word in my post was `` getting``.

Just forget it.

An improving GDP doesn't always translate into increased workforce participation or a raise living standards.

Originally posted by surrealist
An improving GDP doesn't always translate into increased workforce participation or a raise living standards.

I'm not looking at the GDP.

I'm looking at the money supply, and Bernake is printing money like a mad man.

This will lead to a unsustainable recovery/boom, with high price inflation.

Election time for McCain.....Obama...and others.

It's all propaganda. Cyclic. Good news around election time...lol.....it's comical.


This year will have the poorest sales for Christmas in recorded history.

lets peek behind the curtain..and not be hoodwinked by MSM propaganda...


this excerpt is from the burning platform::

GUESS WHO’S WINNING TODAY

Posted on 27th October 2011 by Administrator in Economy |Politics |Social Issues

1%, 99%, Stock market

The stock market is soaring today as the Europeans have convinced the ignorant masses they have solved their debt crisis again for the 14th time in the last six months. Hope is beautiful thing. Until it crashes head on into reality. Then there are bodies and blood everywhere. Anyone with an ounce of intelligence knows that shifting debt around between banks, governments and taxpayers is nothing but a sham. Until the losses are taken and the bad debt liquidated you will just make the future collapse that much more violent and chaotic.

But the big swinging dicks on Wall Street are swinging those dicks gleefully today. The market is up between 2% and 3%. That is wonderful for those owning stocks. You know. Our favorite people – the 1%. They own the stocks and run Wall Street. The little guy has been withdrawing money from stocks for the last two years. Senior citizens are selling stocks so they can buy the dog food they need to survive. People are borrowing against their 401k to make ends meet.

So you have the Wall Street banks, encouraged by Ben’s zero interest rate policy, using their supercomputers to trade with each other and driving the stock market higher. The 1% then head off to the Hamptons laughing at the maroons who are getting bilked day after day. You see, the data below tells the story. The bottom 90% in our society own little or no stocks. But they do use gasoline and they do eat food. While the top 1% are ecstatic over the 15% gain in the stock market since October 3, the peasants have seen the price of oil go up 23%. As you can see, the price of various food items is also jumping.

The MSM will try to convince you that you are winning because the stock market is soaring. Unless you are in the 1% (not likely to be reading my blog) you are losing. The looting and pillaging will continue until we put an end to it. The peasants are restless. The pitchforks are being sharpened and the torches are being lit. The 1% are throwing their heavily armed mercenary armies at the peasants. The 1% should realize the 99% have a lot of weapons. They also far outnumber the mercenaries.

Has there ever been a clearer distinction between the HAVES and the HAVE NOTS?

this snip captures my views to the 98% range.... Thanks

Originally posted by Rockdisjoint
reply to post by haarvik

 

Which country are you from?

The U.S.

Because the US economy is anything but better.

You guys have zero understanding of how the business cycle works. The key word in my post was `` getting``.

If your really from the US, why does the location bar in your proflie say this then?

Location: Moscow, Russia

You wrote in it that your from Moscow

You guys have zero understanding of how the business cycle works

Oh really is that right? sadly your qutie wrong on that part.

As I've predicted before, there's gonna be economic "miracles" as election approaches next year. This could be one of them.

The central banks are just playing "Kick the Can" . One Day, they will discover it is full of concrete and bolted to the pavement.

reply to post by Rockdisjoint


He is not printing money, the funds the fed are using are coming from the other many sources the Fed have to collect them as the selling of US bonds, he can have those printed without the need of congress, he can also gather funds from the banks that fall under the Fed (credit unions) in many ways.

But printing US dollars can only be done if congress raises the debt ceilling, right now they are working with appropiations of funds from other sources in government, that is why the jobs stimulus has only been passed in increments.

I hope this help.

reply to post by Rockdisjoint


What data are you looking at? I bet it doesn't include the millions of people on foodstamps, nor does it include the 400,000 first time jobless claims (again), nor does it include the ongoing deterioration of the average American's standard of living.

Yea if I were a wall street stock broker, the data looks nice, but for the average guy that doesn't make money from fees for transferring money(debt) around, everything still sucks.

reply to post by Vikus

What data are you looking at? I bet it doesn't include the millions of people on foodstamps, nor does it include the 400,000 first time jobless claims (again), nor does it include the ongoing deterioration of the average American's standard of living.

I guess no one here understands what ``getting`` means.......

a. To become or grow to be: eventually got well. www.thefreedictionary.com...

Never did I say the economy was better, all I said was that it is ``getting`` better..... Bernake has engaged in the most expansionary monetary stimulus/policy in U.S history, this excessive money creation is now starting to show up in many different sectors of our economy.

Which is why I say that this is the beginning of a unsustainable recovery/boom.

reply to post by marg6043

 

Your post didn't help at all, it was very confusing.

The Pollyanna economy

In the classic 1960 movie, Hayley Mills plays a young girl named Pollyanna who’s been taught to always look on the bright side. When she’s given crutches for Christmas, she ponders long before concluding cheerfully that at least she doesn’t NEED crutches.

That’s where we are now in the U.S. economy: Even though we’re still limping along, we celebrate the fact that we don’t need crutches. The nation’s economy expanded at a pathetic 2.5% annual rate in the third quarter, but at least we didn’t fall into a recession!

But this kind of growth is really nothing to cheer about because it’s not creating nearly enough jobs. Payrolls increased by just 230,000 during the quarter, but we need that much growth (and more) every single month if we’re going to bring down the unemployment rate in our lifetimes.

Consumers were able to pick up the pace of their spending, but only by reducing their savings. After-tax incomes fell 1.7% after adjusting for inflation. That’s moving in the wrong direction.

So go ahead. Celebrate. At least we don’t need crutches.

AlWaYs LoOk On ThE bRiGhT sIdE oF lIfE

reply to post by Rockdisjoint


I thought you understood how the US economy works and how the Fed also works when it comes to collect funds.

But if you don't this will help.

No the fed is not making the Treasury department print any cash, (money) the Fed can only do that with congress approval.

Any funds the Fed have right now at their disposition is from other sources not from printing cash.

reply to post by St Udio


People will understand the incredible mess that is going on around globally when the US starts using austerity measures like the Greek government.

Oops we all ready are having those the government calls them "resolutions, overhauls and restructuring"

reply to post by marg6043

No the fed is not making the Treasury department print any cash, (money) the Fed can only do that with congress approval.

I see what you're saying, but I think you kinda missed my point. When I say printing money I don't literally mean ``physical cash``, but rather accounting entries on their balance sheets.....

The only thing the treasury really does nowadays is replace worn out fed notes.

reply to post by Rockdisjoint


Yes on that you are right, the Fed does a lot of the funding through the IMF during the bailouts to the EU, actually it is the US the one that brings most of the bailout funds.

So far in unaccounted money 17 trillion of the bailouts since 2008 has come from the Fed.

How can they do this, very simple, as a private bank they can do it without congress approval and because they can not really be audited we will never know how the funds are disbursed.

And is the only one member of the IMF that while it keeps a quota like any other member it also holds the power to keep the rest of the funds needed on bailouts in the Fed, making very hard for the tax payer to know how much is actually been funded by them.

GDP is defined as the number of transactions in an economy. With specifics like that of course we're booming. Look at High Frequency Trading alone (which accounts for the vast majority of 'trades' in the markets).
Meaningless like all other gov't #'s.