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11/23/2010 08:34 PM ID: 86469 Permalink   

US Economy Shows Faster Growth

 

The US economy has grown much faster than first thought, the Commerce Department says. Estimated was a rate of 2 percent in the third quarter, but the actual growth rate announced today was 2.5 percent.

A few weeks ago, the US Federal Reserve tried to boost the economy with $600bn. In the end, US shoppers provided for the upgrade, spending more money on cars and "big ticket" items.

"It´s better than expected. A little bit more momentum in sales. There was more business spending on software, that was one of the surprises, and consumer spending was better than expected," chief US economist Nigel Gualt explained.

 
  Source: www.bbc.co.uk:80  
    WebReporter: dolcevita Show Calling Card      
  Recommendation:  
ASSESS this news: BLOCK this news. Reason:
   
  6 Comments
  
  I think all this "recession is over" nonsense is  
 
nothing but nonsense. I am guessing that most people do not realize but during the great depression there were several years of positive GDP growth even though we were still in the midst of the depression:

http://www.housingbubblebust.com/...


We are still in this new depression regardless of the figures. It will be years or possibly even up to a decade before this thing is over.

The actions of the FED are just pouring gasoline onto a fire. Quantitative Easing is just a friendly/propagandistic way of saying publicly, they are about to screw us in the ass economically and give all their criminal wall street bankster friends, even more of our money!

Wake up people! This government, regardless of party in the administration or the congress, is raping you!
 
  by: slavefortheman     11/24/2010 02:28 PM     
  just in time for black friday  
 
isn´t it suspicious that the government would say this just before the biggest shopping day of the year. the depression isn´t over at all, lies all lies i tell you. just more hype to boost the coin of the rich elite so the low and middle class become poorer. god bless america home of the swine
 
  by: Devil Duck     11/24/2010 04:12 PM     
  ~  
 
They say these things because a huge issue prolonging the economic depression is lack of consumer confidence. People refuse to spend money for fear of losing their jobs, thus causing business to slow and leading to more people losing their jobs -- this is why the government continually promotes good news and touts lowering job loss rates.

The ethics are questionable -- the people they urge to spend their money may still lose their jobs -- but the reasons behind it aren´t some shadow government elite conspiracy. They are just trying to get the economy going again.
 
  by: velger   11/25/2010 03:53 AM     
  @Velger  
 
Not a conspiracy per se. There is a bit of stupidity mixed in with that conspiracy. This is a succession of governments which chose to let the financial market to regulate itself at a 100%. i.e. Moody and Poor giving everybody an AAA rating, a rating previously held only for countries.

Now they are trying to restore confidence just to keep their jobs a little longer.
 
  by: kmazzawi     11/25/2010 03:07 PM     
  @kmazzawi  
 
That they´re scrambling and trying anything to save their jobs I can definitely agree with. ;)
 
  by: velger   11/25/2010 03:27 PM     
  Truth is  
 
Actions speak louder then words. Growth?? I must have missed it!
All I hear are numbers being thrown around, and idiots telling me all is well. In the mean time all I see are people who can´t find work and they are loosing their homes and everything they worked for.
If two men say their Jesus one of them has to be wrong. You decide.
 
  by: hellblazer     12/03/2010 07:36 AM     
 
 
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