"Economy SOARS 5.7 percent, fastest in 6 years": Yahoo!

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  1. fishskinfreak2008 profile image58
    fishskinfreak2008posted 13 years ago

    http://news.yahoo.com/s/nm/20100129/bs_ … sa_economy

    The question as always is: can this level of growth be SUSTAINED?

    1. rhamson profile image73
      rhamsonposted 13 years agoin reply to this

      Look out,  maybe there is some good news.

      It will put a real crimp in the naysayers style if the economy grows before they have a chance to counteract it.

      Eight years to kill the economy and the impatience to give it some time to improve.  It really shows what some groups will do to jump on an issue and beat it before it can get up.

      The politicians will be the death of this country yet!

    2. rhamson profile image73
      rhamsonposted 13 years agoin reply to this

      Why haven't the conservatives in here jumped all over this with a spin? 

      Maybe there is some more studying needed to counter this claim.

      1. profile image0
        A Texanposted 13 years agoin reply to this

        We leave spin to you, if the economy gets better I am happy.

        1. rhamson profile image73
          rhamsonposted 13 years agoin reply to this

          "A conservative is a man who sits and thinks, mostly sits."
          Woodrow Wilson (1856 - 1924)

          1. tobey100 profile image59
            tobey100posted 13 years agoin reply to this

            a liberal is a man who acts and never thinks.  The intent is all that matters, results are not required.

            1. rhamson profile image73
              rhamsonposted 13 years agoin reply to this

              A conservative is a man who believes that nothing should be done for the first time.
              Alfred E. Wiggam

              1. tobey100 profile image59
                tobey100posted 13 years agoin reply to this

                A liberal is a man who believes in doing the wrong thing over and over, and with someone else's money.

                The liberal mantra  "If it ain't broke, we must need to fix it!"

                1. rhamson profile image73
                  rhamsonposted 13 years agoin reply to this

                  If you can't see the catastrophe that has taken place the last two years and think that it is working than I can't help you.

                  A conservative government is an organized hypocrisy.
                  Benjamin Disraeli (1804 - 1881)

      2. ledefensetech profile image68
        ledefensetechposted 13 years agoin reply to this

        No.  We're still hemmoraging jobs and people still aren't buying like they were.  Until we cease to allow the people who got us into this mess to call the shots, we're going to suffer for their continued stupidity.

      3. tobey100 profile image59
        tobey100posted 13 years agoin reply to this

        NO!  Number 1, they will revise the figure downward but you won't hear about it in the news and 2. Its a normal sort of bump that happens every fiscal year, usually by larger corporations 'dumping' product.  Don't get your hopes up.

    3. MikeNV profile image69
      MikeNVposted 13 years ago

      Changes nothing.

      People are still unemployed and the debt is still climbing.

      These stories are nothing but spin by a media that is bought and owned by Bankers.

      Yesterday's good news was Ford's $2.7 Billion profit.

      Buried at the bottom of the story was the FACT that Ford had to borrow an additional $7 Billion.

      So did Ford really profit?  No.  It's just accounting trickery.  You state and income on a Income Statement then you bury the debt on the Balance sheet and carry payments forward.

      That's all that is happening with the Government and the Media Spin.

      More borrowing on the Balance Sheet so they can show an Imaginary Gain on the Income Statement.

      Debt is not Capital and debt is not infinitely sustainable.

      Nothing is fixed, more borrowing and more spending.

      The day of reckoning is still coming and "Smart" people recognize this for what it is.

      1. Last Hand Willie profile image60
        Last Hand Willieposted 13 years agoin reply to this

        One thing is sure. You have no idea how a balance sheet works.  You are aware that it is a separate from a profit and loss statement.  Better check with your accountant before you make make political statements based on ignorance.  Or perhaps you meant to deceived, thinking that everyone but you is ignorant. That would be very Republican of you.

    4. Jane@CM profile image60
      Jane@CMposted 13 years ago

      After being unemployed & gaining employment after 4 months of unemployment, I can say we are looking at this as a good thing. The company that hired my husband is hiring a good many people, so are the three other companies that offered him a job.  So there is hope out there.

      1. OregonWino profile image60
        OregonWinoposted 13 years agoin reply to this

        Good for you Jane!!  congrats!!

    5. OregonWino profile image60
      OregonWinoposted 13 years ago

      The first thing I leaned in Stats class in college...you cna make the numbers say anything you want, and that goes for both sides.

      I agree it is a good thing, but the other side of the coin is the same as the issue of unemployement....simple math..

      1.  If the ecomony has just gone through a 6% DROP in 3 years, then a 1% increase is probably evidense of overcorrection if nothing else.

      Same as the decreased numbers of new unemployment claims...when 11% reported (probably functional unemployment of around 18-20%) of course the numbers of new claims will go down since 10-20% of the POSSIBLE workforce is ALLREADY unemployed..

    6. ledefensetech profile image68
      ledefensetechposted 13 years ago

      Hmm.  I guess if you wait long enough bad news really can seem to turn into good news....and still be bad news.

      1. OregonWino profile image60
        OregonWinoposted 13 years agoin reply to this

        It will get better.  I am VERY fiscally conservative and I agree that Bush was as bad or worse than those in power right now, but both of them have been HORRIBle and arguing over which sucks more is not really solving anything.

        BUT, it would have taken a miracle for the economy to turn around in one year so I am not faulting the current powers for that....yet

    7. Cagsil profile image72
      Cagsilposted 13 years ago

      Don't forget about the inflation that is following this increase, even if the government doesn't want to admit it.

      Do realize pricing structures are returning to levels before the recession began. It's due to government involvement. The pricing structure for goods and/or services were too high and the main reason for the economic downturn. Not including other factors.

      There is still a lot of problems, and we are no way shape or form out of the woods yet. Therefore, no it cannot be sustained. smile

      1. Misha profile image65
        Mishaposted 13 years agoin reply to this

        Nah my friend, we just likely had deflation started a couple of weeks ago. Watch it unfolding, should be fun lol

        1. TheSituation profile image63
          TheSituationposted 13 years agoin reply to this

          Not if energy prices dont stay low AND they dont stop running the printing press 24/7

    8. ledefensetech profile image68
      ledefensetechposted 13 years ago

      Government is exacerbating the problem.  By allowing banks to survive rather than fail, they're allowing the very same people who got us into this mess to keep making bad decisions.  How does that help bring stability to the banking system?  In addition, how is the coming inflation going to help things any?  Anyone with half a brain knows that prices rise after an increase in the monetary supply.  We haven't seen that yet, but we will.  How many newly hiring companies are going to go under because they can't stay in business due to soaring costs and lower income from sales due to people being unable to afford the price hikes?  Not to mention the unbelievable graft and corruption we've seen in the handing out of taxpayer money to politically connected individuals and companies without regard about the sustainability of the "jobs" created.

      Indeed, by many reports, the jobs creation of the stimulus was pretty much fabricated.  Pricing levels are returning to pre-bubble levels because that's what happens when a bubble bursts.  It has nothing to do with what the government has done or has failed to do.  If anything the government has been trying to prop up prices to give people the impression that the salad days of the bubble are back.  Much like a real bubble, once popped, a bubble is impossible to inflate again.

      1. profile image0
        EmpressFelicityposted 13 years agoin reply to this

        I think you credit politicians and the media with too much intelligence... a lot of them don't seem to realise this.

        Also people aren't aware that "economic growth" is defined as an increase in GDP, in which government spending is included as part of its calculation.  So if government spending goes up, then GDP goes up.

        It blew my mind when I found that out.  It would be a bit like me telling my bank manager "No you see, it doesn't matter that my overdraft is the size of a small country.  I'm spending more money, so I'm experiencing economic growth!" lol

    9. profile image0
      jerrylposted 13 years ago

      A look back into history will show us that income tax and the passage of the federal reserve act, occured at aproximately the same time.  Since that time, our indebtedness has increased, each year.  It didn't matter which political party was in office!

      The position of Emperor of the United States has been held by the chairman of the board of the federal reserve, fractional banking, debt monetary system, since it's beginning.

      It's the bankers that control this nation and it's economy, not the politicians.  The politicians are just tools that TPTB use to keep and maintain their power.


    10. MikeNV profile image69
      MikeNVposted 13 years ago

      This is for people who want to know the Truth.


      If you can read these numbers then conclude there will be a recovery... Can you explain how the debt will EVER be repaid?

      This countries debt exceeds the ability of the People to repay it.

      It's just that simple.

    11. Wayne Orvisburg profile image62
      Wayne Orvisburgposted 13 years ago

      Call me a bit ignorant, but if the economy grows, doesn't that mean more is being produced? Which would mean they would need more people to produce? Which would mean more people working? Which would mean more people speding? Which would mean more products need to be made?

      I considered this to be good news.

    12. profile image0
      jerrylposted 13 years ago

      Wayne,  Increases in productivity and products, does not increase the money supply.

      Under our debt system, all M1 money,(the money we use to pay our everyday living expenses), is created through the extension of credit from private commercial banks, or other debt instruments.

      We are forced to borrow every cent we have in circulation.  Money is created when debts are incurred, and extinguished when loans are repaid. In this debt process, there is no money created to pay the interest on any loans, therefore, we are always creating a debt greater than the debt money supply.

      People often get confused about the difference between wealth and money.  You can have wealth in the equity of your home or possessions, or in a warehouse full of product.

      You cannot spend wealth however.  It must be converted into money first.  There are only two ways to convert wealth into money.  You can sell some of your wealth, and if the amount is large enough, someone would probably have to borrow to buy your wealth from you.

      The second way to convert wealth into money, is to mortgage that wealth, or in other words, put your wealth up as collateral for a loan.  Either method usually means that the bankers will dip their interest grabbing hands into someone's wallet. 

      So you see, if we do not borrow under our current monetary system, we would be without a medium of exchange.

      If you have money in the bank, or in your pocket, you could not possibly have that money unless someone else, either individually or collectively, has an equal amount of debt.

      If there is no debt, there can be no dollars.

      Think about it.  TPTB say that people borrowed too much, and this is the cause of our economic downturn.  Now the government
      Wants the banks to loan out more to revive the economy.

      We have sent a lot of our manufacturing base to China.  Ironic! We are building up their economy so we can borrow more from them.


    13. Akhomesteader profile image72
      Akhomesteaderposted 13 years ago

      I'll believe it when this country brings it's manufacturing base back. Right now there is more growth in service sector jobs than those that create new wealth.

    14. MikeNV profile image69
      MikeNVposted 13 years ago

      Sixty Mintues Report on the Second Wave of Economic Collapse


      If you don't believe the Real Crash is still coming that's fine.  But for those of us who understand Fractional Reserve Banking it's time to get your money out of the Banks while you still can.  What to put it into besides survival supplies and fully paying off your home is the next question.

      1. profile image0
        jerrylposted 13 years agoin reply to this

        Mike,  That's about the only safe  place to put money.  I have totally paid off my house, and I have got about 1 year of survival foods stashed. A 1 year old vehicle all paid for.
        I have no payments other than daily living expenses and fuel.
        All of my utilities, insurances and taxes are paid ahead at least 6 months.
        It feels good to be prepared.. Planning ahead has paid off.

        When TSHTF, a lot of people are going to get hurt bad.  There will be a lot more homeless and jobless.



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