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Economy Grows at Fastest Pace Since 1984

By JEANNINE AVERSA (Direct descendent of Joseph Stalin! - tha malcontent)
Associated Press Writer Oct 30, 7:55 AM EST

WASHINGTON (AP) � The economy grew at a blistering 7.2 percent annual rate in the third quarter in the strongest pace in nearly two decades. Consumers spent with abandon and businesses ramped up investment, compelling new evidence of an economic resurgence.

 

(ap) - Isn't "1984" before Clinton the Great was the (p)resident?... How can this be, I thought that all that was ever good in this land, at least in regard to the Economy, came from William the Liar! Well, it looks as if the only thing "tanking", or that's "miserable", as the Left has regurgitated ad naseum for the last 2 years about the Economy, is the DemocRAT Party itself, if this economic trend continues into next year... You know, it's really kind of sad... The Left will not come to terms with this reality, instead, they will make Iraq an even bigger issue, and try really, really hard to trot out that old Deficit Monster.  Fact: Bad News for America = Good News for the DemocRAT Party in 2004.  Keep in mind, during the Election in 2000, while under the 7th, of 8 Clinton Budgets, the Economy was growing at nearly 0%, and then it fell into Recession 40 days after Clinton Left office. The Clinton/Algore Recession of 2000/2001 is no doubt over, and this Trend will be very hard to derail, and the Left knows this.  Better start offering up some Real alternatives to Bush (43), and get off of the "Constant Attack Mode Bus" that you are currently riding on, cause it's about to Crash, kids!  It did not work for my Party in 1995/96 against Clinton, and a good economy, and it will not work for you this year or next.  Learn from other's mistakes...  Or keep taking the rope.  I prefer the latter, of course!  Let's do this! - tha malcontent)

The increase in gross domestic product, the broadest measure of the economy's performance, in the July-September quarter was more than double the 3.3 percent rate registered in the second quarter, the Commerce Department reported Thursday.

 

(But I though the DemocRATS said this was the worst economy since the Great Depression?  I don't understand?  The economy is far better now, than it was in the final months of Clinton, and that's even after the 11th, and 2 Wars!  I guess Bush (43) must be doing better than the people who hate him, say he's doing!... SHOCKING! - tha malcontent)

The 7.2 percent pace marked the best showing since the first quarter of 1984. It exceeded analysts' forecasts for a 6 percent growth rate for third-quarter GDP, which measures the value of all goods and services produced within the United States.

 

(The real news here, is that Fact that the media continued talking the economy down, even though it has been improving, quarter after quarter, and then this 6% growth rate estimate comes out over the summer, and instead of focusing on that good news, the media plays clips of Little Dick and Howard Dean flatly Lying about the economy, as opposed to informing "the people" of the Truth about the economy!  This is what is known as bias! - tha malcontent)

"This is a gangbuster number. Everything came together for the economy in the third quarter," said Mark Zandi, chief economist at Economy.com. "The key challenge now is jobs," he said.

 

(As the DemocRATS keep their fingers crossed for a higher unemployment rate! - tha malcontent)

The economy's recovery from the 2001 recession has resembled the side of a jagged cliff; a quarter of strength often has been followed by a quarter of weakness. But analysts are saying that pattern could be broken, considering increasing signs the economy finally has shaken its lethargy and is perking up.

 

(The "2001 Recession", that began 40 days after Clinton Left office, and only 5 months into his final budget, after a year-long slowdown, that the media deliberately ignored in favor of attempting to assist their candidate, Algore Junior, into the White House, to be a little more accurate! - tha malcontent)

Near rock-bottom short-term interest rates, along with President Bush's third round of tax cuts, have helped the economy shift into a higher gear during the summer, economists said. The next challenge is making sure the rebound is self-sustaining, they said.

 

(Tax cuts help the economy shift into higher gear?... Don't tell a DemocRAT that, they've got mouths to feed, and Votes to Farm! - tha malcontent)

Democrats, however, argue that the tax cuts contributed to a record budget deficit in the recently ended 2003 fiscal year and have done little to spur significant job growth.

 

(How cute, the "Deficit Monster" I warned about earlier.  The DemocRATS are as predictable as my morning bowel!  By the way, the economy slowed, and then went into Recession, then came the higher unemployment numbers... As logic would dictate.  The same goes in reverse, but I don't expect angry, bitter little DemocRATS to understand basic economics.  They are too busy trying to buy Votes with promises of my money being transferred to their Voter base! - tha malcontent)

Although the nation's payrolls grew by 57,000 in September - the first increase in eight months - the economy needs to add a lot more jobs than that each month to drive down the 6.1 percent unemployment rate, analysts have said.

 

(Clinton was re-elected with a 5.7% to 5.8% unemployment rate, and the media applauded him for doing such a great job... Remember that, when you hear 6.1%, considering everything this country has gone through in the last 3 to 4 years! - tha malcontent)

The administration has argued that as economic growth improves, meaningful job creation will follow. Bush will be counting on that as he heads into the 2004 presidential election season.

 

(Not only does the Administration argue this, but History, and common sense dictates it! - tha malcontent)

The GDP report is "certainly encouraging news for our economy, but we still have more work to do to ensure that every American who wants a job can find a job," said Treasury Secretary John Snow.

In other encouraging economic news from the Labor Department, new claims for unemployment benefits last week dropped by 5,000 to 386,000, a sign that layoffs are slowing. U.S. workers' wages and benefits went up by 1 percent in the third quarter, up slightly from a 0.9 percent increase in the previous quarter.

 

(I can't stop wondering how it is that DemocRATS look themselves in the mirror in the morning, and then go about their day spewing the filthy Lies about this economy, and Iraq II, all in the hopes of damaging one Man.  What a sad existence that must be. - tha malcontent)

Amid signs that the recovery is regaining traction, the Federal Reserve on Tuesday decided to hold a key short-term interest rate at a 45-year low of 1 percent. Super-low short-term rates may give consumers and businesses an incentive to spend and invest more, boosting economic growth.

 

(Amid signs that the DemocRATS chances of regaining either the Congress or the White House, are about the same as their being able to be Honest politically... - tha malcontent)

Economists believe the economy will grow at a slower - but still healthy - 4 percent rate in the final quarter.

 

(This realistic slowdown from a 7.2% to 4%, will be painted as a negative thing for Bush (43), and when it happens, remember where you heard it first! - tha malcontent)

In the third quarter, consumers ratcheted up their spending at a brisk 6.6 percent annual rate. That was the biggest increase since the first quarter of 1988 and was up from a 3.8 percent pace in the second quarter.

 

(But didn't the "Free Press" tell me that Consumer Confidence was down?... I don't understand. - tha malcontent)

Consumers in the third quarter spent lavishly on big-ticket items, such as cars, boosting such spending by a whopping 26.9 percent rate. And, they also spent briskly on "nondurables" such as food and clothes, which grew at a 7.9 percent pace, the strongest showing since the first quarter of 1976.

 

(Consumers spent at the highest rate on "nondurables", in the last quarter Century?  But that sounds as if Consumers are "confident", doesn't it "Free Press"?  Did you pick and chose your "sources" for your reporting on "Consumer Confidence" a couple of months ago?... Because, if you did, you may want to find "sources" that are a little more Honest!  You know, for credibility in Journalism's sake! - tha malcontent)

While consumers have been the main force keeping the economy going, there are more signs that businesses are starting to do their part.

Especially encouraging was the 15.4 percent growth rate in spending by businesses on equipment and software in the third quarter. That marked the largest increase since the first quarter of 2000 and was up from a 8.3 percent growth rate in the second quarter.

 

(The AP will have a hard time understanding what this means, but this last paragraph equates to new jobs on the horizon.  The AP won't believe it when it happens either! - tha malcontent)

Sustained turnarounds in capital spending and in hiring are crucial to the economy's return to full throttle. Economists said business wants profits to improve and wants to be sure of the recovery's vigor before it goes on a spending and hiring spree.

The red-hot housing market, powered by low mortgage rates, also contributed to the strong showing on third quarter GDP. Investment on residential projects grew at a 20.4 percent rate, the biggest increase since the second quarter of 1996, and more than three times the 6.6 percent growth rate seen in the second quarter.

 

(So much bad news for the DemocRATS, it's really kind of sad! - tha malcontent)

Federal government spending, which grew at a 1.4 percent rate, was only a minor contributor to GDP in the third quarter. Spending on national defense was flat. But in the second quarter, military spending on the Iraq war - which grew at a whopping 45.8 percent rate - helped to catapult economic growth.

 

(Government spending, which is 80% NOT the military, grew at a low 1.4% rate, so save the "whopping 45.6%" growth in spending on Iraq TRIPE!  I wonder why spending would have increased there, AP?... PAH-LEEEEEEEEEEEEEASE! - tha malcontent)

A better trade picture in the third quarter also contributed to GDP growth.

But inventory reduction by businesses continued to be a drag on the economy and reduced third-quarter GDP by 0.67 percentage point. And a continuing reluctance by businesses to build up stocks suggest that executives remain wary of the rebound's staying power.

 

(The AP was going to get their jab in, and they did, and it was as WEAK as I expected it to be.  How are those layoffs at the AP working out for you, by the way?  Have you heard about the AP layoffs?... You won't hear about them on their Wire, like you about all of the other big, bad, mean Corporations when they have layoffs!  I got a heads up weeks ago from a source inside the AP, but was not sure about it enough to mention it, but now... Maybe it's time for some real change, AP! - tha malcontent)


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