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08/30/2011 04:10 AM ID: 90669 Permalink   

Recession Fears Allayed by Spending Data

 

Consumer spending in July rose at its fastest pace in nearly half a year, another sign that the U.S. economy isn´t headed into a double-dip recession. Spending rose 0.8 percent on a strong demand for cars.

Spending was aided by the fading of Japan-related supply constraints. Adjusted for inflation, spending saw its highest gain in a year and a half and the first increase since April. Consumer spending is 70 percent of the U.S. economy.

Still, stock prices plunged and consumers remain steadfastly negative in their views of the economy. In other data, after-tax incomes fell and factory output in Texas nearly stalled.

 
  Source: news.yahoo.com  
    WebReporter: Ben_Reilly Show Calling Card      
  Recommendation:  
ASSESS this news: BLOCK this news. Reason:
   
  16 Comments
  
  Different perspective  
 
This news is terrible, specially last sentence
 
  by: T-bagger   08/30/2011 05:13 AM     
  ???  
 
"Spending rose 0.8 percent on a strong demand for cars."

Oh. Wow. I´m excited. Less than 1-percent. Please excuse my excitement. I´m so overjoyed. This news is so great. Yay.
 
  by: carnold     08/30/2011 05:14 AM     
  "its highest gain in a year and a half"  
 
 
  by: Ben_Reilly     08/30/2011 05:22 AM     
  That does it. My excitement is (*yawn*) climaxing.  
 
Obama has been president for nearly 3 years. This is the greatest gain in a year and a half. Oh, yay. Hip-hip-horray. Woo-hoo. I´m so excited I could just go to bed.
 
  by: carnold     08/30/2011 05:31 AM     
  @CarMold  
 
Your post lacks sarcasm. See what I did there?
 
  by: Garbasche   08/30/2011 12:18 PM     
  government figures  
 
from a government that wants you to believe what it wants ! next they will be selling waterfront property in arizonia!
 
  by: shannon853   08/30/2011 05:31 PM     
  @shannon853  
 
Thanks to big oil and Climate change deniers, we´re well on our way to having an Arizona bay.

http://www.youtube.com/...
 
  by: veya_victaous     08/31/2011 01:20 AM     
  Really  
 
It is and has been, like watching an infant with a fat head walk around. It teeters in several directions before hitting the ground, then crying, then acceptance, then get back up and try again. Poor baby economy, all the greedy people in this country keep tipping your head when all you wanna do is walk steadily.
 
  by: Burnfactor77   08/31/2011 05:57 AM     
  to ease problems,  
 
use teh old "if you can´t dazzle then with brillance, baffle them with bullshit!" make things appear rosie when things are bad and no matter what the truth, a good snow job will bring things up.
 
  by: shannon853   08/31/2011 05:52 PM     
  veya_victaous  
 
ah yes, forget the facts like the sun is getting warmer, teh earth has reached teh end of its tilt and will start reversing its tilt angle over the next 13,000 years or so causing changes in the weather and forget the moon moves 1-1/2 inch further away each year thus having less and less gravational pull on the oceans! just blindly cry the sky is falling, the sky is falling chicken little!
 
  by: shannon853   08/31/2011 05:56 PM     
  @shannon  
 
Whats with the "teh"? Is it like when people use "pwned" instead of "owned"?
 
  by: T-bagger   08/31/2011 07:26 PM     
  @shannon  
 
The sun isn´t getting warmer. There´s nothing going on with "teh" Earth´s tilt, and the moon has no effect on temperature.

I´ll just keep pointing out the truth every time you spew "teh" nonsense, how about that?
 
  by: Ben_Reilly     08/31/2011 07:47 PM     
  Spending Up?  
 
That´s it the spending increase was caused by the earthquake in Japan, which has nothing to do with BO, other than he is an idiot for claiming this increase has to do with his efforts.

Summer of Recovery? What??? just more proof that BO is an idiot.
 
  by: Mr.Science   09/02/2011 10:10 PM     
  @Mr.Science  
 
This story isn´t about Obama.

Here, I dug up a link for you that might help you come to terms with your affliction:

http://www.thedailyshow.com/...

 
  by: Ben_Reilly     09/02/2011 10:16 PM     
  Recession Fears Allayed?  
 
That explains why Wall Street took a huge dump today when the jobs report was released: ZERO jobs produced in August.
 
  by: carnold     09/02/2011 10:34 PM     
  Cars Sales Up  
 
The "strong demand for cars" is driven by GE who is spending stimulus money.
http://www.wired.com/...

This is all smoke and mirrors and not reality.

Yes, this is about BO the Class Clown because this is HIS economy. His constant talk about raising taxes on those making more than $250k per year has small business owners afraid of our Federal Government. Why do you believe companies are leaving to Mexico?
 
  by: Mr.Science   09/09/2011 05:29 PM     
 
 
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