The Good Economic News Keeps Coming

[frodo_biguns]

Maybe this is why the democrats are trying to deflect attention to bullshit pull out plans of Iraq. :wink:

U.S. GDP Rises in 3Q Despite Hurricanes
Wednesday November 30, 9:53 pm ET
By Jeannine Aversa, AP Economics Writer
U.S. Gross Domestic Product Rises at 4.3 Percent Annual Rate in Third Quarter Despite Hurricanes


WASHINGTON (AP) -- The nation's economy demonstrated just how sturdy it is, posting its strongest quarterly showing in more than a year despite the Gulf Coast hurricanes.
Gross domestic product, the best measure of economic standing, increased at a hardy 4.3 percent annual rate from July through September, the Commerce Department reported Wednesday.

The reading was even better than the 3.8 percent pace estimated a month ago for the third quarter, and it exceeded analysts' projections of a 4 percent pace. GDP measures the value of all goods and services produced within the U.S.

The upgraded performance reflected brisk spending by consumers and businesses, despite record energy prices, and stronger investment in home building.

"The economy shrugged off the ill effects of the hurricanes very gracefully," said Mark Zandi, chief economist at Moody's Economy.com.

The hurricanes did bite into economic activity, especially when it came to jobs. Zandi and other economists believe economic growth probably would have topped 5 percent if the hurricanes had bypassed the United States.

Nonetheless, the GDP's growth during the third quarter was the strongest since the first three months of 2004. Also, it showed the economy gained considerable momentum from the 3.3 percent pace in this year's second quarter, the April-June period.

On Wall Street, the Dow Jones industrials lost 82.29 points as investors fretted that the robust GDP growth might prompt the Fed to order more rate increases in the future than had been anticipated.

Separately, a Federal Reserve report suggested the economy had solid momentum in October and much of November.

Manufacturing, retail sales and hiring improved in many regions, the Fed said. Housing activity, while still healthy, slowed in many markets; demand for home mortgages eased in some areas.

The Fed's observations added to other signs of a gradual cooling in the hot housing market.

Looking ahead, economists predict the economy will turn in a solid performance in the October-to-December quarter, even based on the assumption of consumers' belt-tightening.

Economic growth projections for the fourth quarter range from a growth rate of more than 3 percent to 4 percent. A few analysts believe the GDP could come in around 2 percent, a subpar performance.

In the third quarter, though, consumers and businesses did their part to keep the economy rolling.

Consumer spending grew at a 4.2 percent pace, the strongest since the final quarter of 2004. Economists predict consumer spending will slow considerably in the fourth quarter even if holiday sales are solid. Growth from other areas should help blunt that and allow the economy to log a good quarter, most economists said.

Businesses boosted spending on equipment and software at a 10.8 percent annual rate in the third quarter, while investment in housing construction grew at a 8.4 percent pace.

Federal spending rose at a 8.1 percent rate, reflecting some outlays due to the hurricanes, analysts said.

President Bush, pointing to the GDP report, said Wednesday that "businesses have overcome the challenges of two hurricanes and high energy prices."

That good news, however, has not helped Bush's approval ratings in polls. They have fallen to some of the lowest levels of his presidency.

While the overall economy has weathered the fallout from the hurricanes well, the labor market has felt more deeply the devastation.

Employment in September declined for the first time in two years; In October payrolls grew by just 56,000, an anemic figure.

Ahead of the government's release Friday of the employment report for November, many economists are forecasting a healthy rebound, with the economy adding more than 200,000 jobs during the month.

Fed Chairman Alan Greenspan and his colleagues maintained at their Nov. 1 meeting that the hurricanes only "temporarily depressed" employment and production.

Katrina slammed into the Gulf Coast in late August; Rita followed in late September. Those storms, which battered crucial oil and gas facilities, choked off commerce and destroyed businesses, sent energy prices skyward and fanned inflation fears.

To fend off inflation, the Fed raised interest rates in November and signaled that a rate increase was likely at its next meeting, Dec. 13.

The Fed's regional survey, released Wednesday, found consumer prices increased moderately in some areas as certain businesses passed along to shoppers a portion of their higher energy costs. "Persistent ... price pressures" for energy and other materials used by businesses were reported in most regions.

An inflation gauge tied to the GDP report showed prices rising at a 3.6 percent rate in the third quarter, compared with a 3.3 percent pace in the prior period.

When food and energy prices are excluded, "core" inflation-- which the Fed watches closely -- actually moderated. Core inflation rose at a rate of 1.2 percent in the third quarter, down from a 1.7 percent pace in the second quarter.

Gross Domestic Product report: http://www.commerce.gov/


Federal Reserve: http://www.federalreserve.gov/

[smackaholic]

more republican "bad intelligence" being fed to the public. What dupes we all are. We are actually in the middle a a huge depression. The only companies with economic growth are haliburton and Exxon mobil.

[Diego in Seattle]

Keep shoveling, frodo. The polls show that the public knows better.

[Cicero]

No, most people rely on LibNN for the news which bashes the admin every chance they get.

X

[Wolfman]

it would be interesting to see
how the posters on this board
are "doing" !!
Trouble is--I doubt if some would
be straight-forward--
I know-I'm "doing" just fine !!

[frodo_biguns]

Keep shoveling, frodo. The polls show that the public knows better.

Whose shoveling? I'm past that and spreading. Get over it you sore losers! Bush won! The economy is going well and you are stuck in a shit job. Maybe you didn't notice the links? It wasn't Fox News!

[frodo_biguns]

No, most people rely on LibNN for the news which bashes the admin every chance they get.

X

Listening to Laura Ingraham right now and shs just went over that. Al you have to do is look at the headlines.

[Cicero]

Mr O - I myself am doing much fine. Granted I am 3 years removed from School and am not married but I dont feel as if we are living in a Depression.

[BSmack]

Bow down to the blue states yet again. Not only are we better educated, better looking and sporting longer wood, but we also make more money than you red state fags.

Highest-paid workers live on East Coast

BY STEPHEN OHLEMACHER

Associated Press

WASHINGTON — Americans have been migrating south and west for decades, but it appears they've been leaving some high-paying jobs behind.

While there are many pockets of wealth in the South and West, the states with the highest wage earners line the East Coast, according to census data released Tuesday.

Connecticut, with a median household income of $56,409, supplanted New Jersey as the highest wage state in 2003, the most recent year available. New Jersey was second at $56,356, followed by Maryland, Massachusetts and New Hampshire. Minnesota ranked seventh, at $50,750.

Mississippi had the lowest median income, at $32,397. West Virginia, Arkansas, Louisiana and Montana rounded out the bottom five.

The nation's median household income was $43,318.

Census figures show that Southern and Western states have been growing in population much faster than those in the Northeast and Midwest.

But despite those population shifts, the list of wealthiest — and poorest — states in 2003 looks a lot like the list from a decade before.

"You're going to see those areas — Mississippi, Appalachia — those are just characteristically, throughout history, poorer areas," said David Waddington, chief of the Census Bureau's small area estimates branch.

Most of the wealthiest counties were suburban, and nearly all the poorest ones were rural.

"This is a reflection of a poverty problem in nonmetro areas," said Dean Jolliffe, an economist at the Department of Agriculture. "These are areas where there really isn't any economic development going on."

Jolliffe tracks "persistent poverty" counties, ones in which at least 20 percent of the population has lived below the poverty level for at least 30 years. There were 386 persistent poverty counties in 2000, and 340 were outside metropolitan areas.

None was in the Northeast. Most were in the South.

http://www.twincities.com/mld/twincitie ... 287661.htm

[Cicero]

Smack, you big fat pussy. Way to fucking dodge the topic. Typical move from a person w/ your ideology. Maybe the the cost of living has something to do w/ it. When 2 bedroom townhomes go for $400K, people better be making a little extra cash, otherwise they couldnt afford to live there and what, is everyone who lives in a blue state a Dem? I suppose no one in Conn is a Republican, huh?

[Moving Sale]

Keep shoveling, frodo. The polls show that the public knows better.

Are these the same polls that carried Gore and Kerry landslide victories?

The ones that are more accurate than Dieblod Voting Machines? Yes.

[Moving Sale]

it would be interesting to see
how the posters on this board
are "doing" !!

I'm doing great. Education Rocks!

[Moving Sale]

Al you have to do is look at the headlines.

You are an idiot.

[frodo_biguns]

Bow down to the blue states yet again. Not only are we better educated, better looking and sporting longer wood, but we also make more money than you red state fags.

Highest-paid workers live on East Coast

BY STEPHEN OHLEMACHER

Associated Press

WASHINGTON — Americans have been migrating south and west for decades, but it appears they've been leaving some high-paying jobs behind.

While there are many pockets of wealth in the South and West, the states with the highest wage earners line the East Coast, according to census data released Tuesday.

Connecticut, with a median household income of $56,409, supplanted New Jersey as the highest wage state in 2003, the most recent year available. New Jersey was second at $56,356, followed by Maryland, Massachusetts and New Hampshire. Minnesota ranked seventh, at $50,750.

Mississippi had the lowest median income, at $32,397. West Virginia, Arkansas, Louisiana and Montana rounded out the bottom five.

The nation's median household income was $43,318.

Census figures show that Southern and Western states have been growing in population much faster than those in the Northeast and Midwest.

But despite those population shifts, the list of wealthiest — and poorest — states in 2003 looks a lot like the list from a decade before.

"You're going to see those areas — Mississippi, Appalachia — those are just characteristically, throughout history, poorer areas," said David Waddington, chief of the Census Bureau's small area estimates branch.

Most of the wealthiest counties were suburban, and nearly all the poorest ones were rural.

"This is a reflection of a poverty problem in nonmetro areas," said Dean Jolliffe, an economist at the Department of Agriculture. "These are areas where there really isn't any economic development going on."

Jolliffe tracks "persistent poverty" counties, ones in which at least 20 percent of the population has lived below the poverty level for at least 30 years. There were 386 persistent poverty counties in 2000, and 340 were outside metropolitan areas.

None was in the Northeast. Most were in the South.

http://www.twincities.com/mld/twincitie ... 287661.htm

HAHAHAHAHHAHAAAAAAAAAA!!!!!!!!!!

I love when dipshits democrats don't figure in the "COST OF LIVING" Factor!!!!!!!! What a Fucking Moron!!!!!!!

One more thing! Keep paying $2k for your one bedroom apartment. I'll enjoy my lake view, 3+ acres and 4,200 sq ft house. :wink:

I've been to the East coast! The women are nothing to brag about! Everybody knows the best women are from the midwest and those in Claifornia who moved from the midwest.

[frodo_biguns]

Smack, you big fat pussy. Way to fucking dodge the topic. Typical move from a person w/ your ideology. Maybe the the cost of living has something to do w/ it. When 2 bedroom townhomes go for $400K, people better be making a little extra cash, otherwise they couldnt afford to live there and what, is everyone who lives in a blue state a Dem? I suppose no one in Conn is a Republican, huh?

:wink:

[BSmack]

Smack, you big fat pussy. Way to fucking dodge the topic. Typical move from a person w/ your ideology. Maybe the the cost of living has something to do w/ it. When 2 bedroom townhomes go for $400K, people better be making a little extra cash, otherwise they couldnt afford to live there and what, is everyone who lives in a blue state a Dem? I suppose no one in Conn is a Republican, huh?

Keep living in your shantytown and I'll keep living in civilization. It's better that way. Trust me.

[Cicero]

Bitch, I live in Tampa. Life doesnt cease to exist once you live outside the NEast. We have warmer weather, lower taxes and hotter women.

[bbqjones]

Bitch, I live in Tampa. Life doesnt cease to exist once you live outside the NEast. We have warmer weather, lower taxes and hotter women.

and mons venus and mons venus

[BSmack]

Bitch, I live in Tampa. Life doesnt cease to exist once you live outside the NEast. We have warmer weather, lower taxes and hotter women.

I've been to Tampa. Unlike you, we in the northeast can afford air transportation. Of course Tampa is nothing but a bunch of trailer parks surrounded by northern transplants with money. Even your football team had to be bought by a Rochestarian in order to bring it any semblance of respectability.

[Cicero]

Trailer parks? Are you serious? Sure there are, but everywhere has a few. When was the last time you were here, 20 years ago? Its vastly populated w/ plenty of homegrown money people, thus making Tampa the best city in the state of Florida.

[bbqjones]

thus making Tampa the best city in the state of Florida.

whoahhhhhhh. slow down tiger.

that award goes to whatever apartment complex patsy stone is living in.

plus ++++ st augustine is in florida too

[BSmack]

Trailer parks? Are you serious? Sure there are, but everywhere has a few. When was the last time you were here, 20 years ago? Its vastly populated w/ plenty of homegrown money people, thus making Tampa the best city in the state of Florida.

Coke dealers don't count as "homegrown money".

Face it. Tampa is where we send our old people to die.

[PSUFAN]

In Tampa, Upcoming Stripper Schedules read like Rosetta Stones for the Horny.

In Rochester, they read like Family Trees for the Criminally Debauched.

[frodo_biguns]

Bitch, I live in Tampa. Life doesnt cease to exist once you live outside the NEast. We have warmer weather, lower taxes and hotter women.

I've been to Tampa. Unlike you, we in the northeast can afford air transportation. Of course Tampa is nothing but a bunch of trailer parks surrounded by northern transplants with money. Even your football team had to be bought by a Rochestarian in order to bring it any semblance of respectability.

More ignorance and arrogance from the East Coast proving once again why they can't get a Presidential candidate to win!

[BSmack]

In Tampa, Upcoming Stripper Schedules read like Rosetta Stones for the Horny.

In Rochester, they read like Family Trees for the Criminally Debauched.

You mean like this stripper?



Or this one?



You can bet those were some native Floridians.

http://www.tampabays10.com/sports/sport ... ryid=21796

[PSUFAN]

$20 to watch them have a tuna snack? That's a ripoff in any state.

[frodo_biguns]

In Tampa, Upcoming Stripper Schedules read like Rosetta Stones for the Horny.

In Rochester, they read like Family Trees for the Criminally Debauched.

You mean like this stripper?



Or this one?




You can bet those were some native Floridians.

http://www.tampabays10.com/sports/sport ... ryid=21796

Just when I think I've read the stupidest post ever, you go and post another. Are you going to say that those Cubans are any different from your Puerto Rican population? Your ineffective imitation of good posting style only serves to illuminate your lack of substance, good taste, and decency. Good Day! :x


MORON!

[BSmack]

^^^^^^^^^^^^^ Has melted down so much that he cannot even properly C&P a post to reply to it.

[smackaholic]

Bsmack, You live in the crapchester area, don't you? You really don't need to be talking locale smack.

I have been to upstate NY. Beautiful country, but, just about every single crappy little town is depressed as hell, economically.

I was in Utica for a week back in 96 the middle of Clinton's greatest economy evah. Even then, the fukkin' place was borded up. Then there's lovely Niagra Falls. That whole fuggin' town needs to fall right into the niagra river.

So, don't lump yourself in with the city and lon Gisland. That small area of the state has about half of the universe's wealth. You fukkers north of the bronx might as well be part of appalachia.

Somebody asked about Ct. Yeah, we got the highest per capita income thanks to a fair number of obscenely rich folks in fairfield county. But, if you gotta be anything less than upper middle class, there are a number of places you can do it better, most of them in those horrible red states.

And yes, there are republicans here. About 12 rich fukkers and me.

[BSmack]

Wow, Utica and Niagara Falls.

I suppose you never heard of Griffiss Air Force Base and Love Canal? Might be why those two towns were on the outs. Utica will likely not ever get back to where it was. But Niagara Falls is starting to turn around. Step one should be plowing under the Bob Moses Parkway. Of course, the Falls are still the engine that drives the NY economy. Cheap hydro doesn't suck very much unless you're a fish getting caught in the trubines.

Meanwhile, what about the rest of the area? Yea, it is shrinking some. But that just leaves a more livable area for those who stay. I live 20 miles from where I work and can commute to work in just under 30 minutes on any given day. Real estate prices are rising everywhere in WNY, so I've got to assume that there is money flowing into the economy. In my hometown, unemployment is 2.5%. Shit, all we need to make it perfect is to get free state paid blowjobs on payday.

[smackaholic]

I was at the falls a little over a year ago. Get more than a block or two away from the falls and it was absolutely shitty. Almost as depressing as Utica which, unfortunately, doesn't have a world famous landmark.

There was one thing in Utica that didn't suck. It was a sports bar named Zeb's. I got a free t-shirt. All I had to do was drink one of each beer they had. Another guy from work and I didn't quite drink all of them that week, but, they were so impressed with our effort, that we got one anyway. Best fuggin' wings I've ever had.

Are you in crapchester? I have to admit that the area around the lake was pretty nicve. Easily the least depressed place I saw in NY, north of central park.

We drove the road that skirts the lake for an hour or so east of crapchester. It was verah nice. But, the same can be said for west by god virginia as well.

Could be worse, I 'spose. Could be central joisy. From the GW bridge, to Camden, that has to be the biggest nonstop stretch of shitiness this side of Cairo Egypt.

Cairo has 'bode in the filthiest shithole evah category. A distant second is Naples followed closely by bridgeport.

[BSmack]

I was at the falls a little over a year ago. Get more than a block or two away from the falls and it was absolutely shitty. Almost as depressing as Utica which, unfortunately, doesn't have a world famous landmark.

Like I said, it is on its way back. The Falls is by no means ALL the way back. But 10 years ago, even the streets near the falls were shitholes. With the new casino, at least there is some hope that things will turn.

There was one thing in Utica that didn't suck. It was a sports bar named Zeb's. I got a free t-shirt. All I had to do was drink one of each beer they had. Another guy from work and I didn't quite drink all of them that week, but, they were so impressed with our effort, that we got one anyway. Best fuggin' wings I've ever had.

You could be decribing just about any decent bar in Central NY. The 315 area code is littered with hole in the wall bars full of shitkicking boys and girls who love to party. I've had many a brain cell killed courtesy of nights out in the area north of Syracuse. Also, if you have even a little bit of cash, you can pick up a place in the outskirts of Utica for next to nothing. Like this.

80k for 4 bedrooms?

I may well retire to a little place out that way. At least for the summers.

Are you in crapchester? I have to admit that the area around the lake was pretty nicve. Easily the least depressed place I saw in NY, north of central park.

We drove the road that skirts the lake for an hour or so east of crapchester. It was verah nice. But, the same can be said for west by god virginia as well.

Yea, but we don't have to live with the shit that goes down in W Va. You know, like strip mining and brutal poverty. Our rural areas may not be rolling in it, but at least there is hope for those who want to make a better life for themselves. The land is airable and the farmers who still choose to farm are able to supplement their income with second jobs.

Could be worse, I 'spose. Could be central joisy. From the GW bridge, to Camden, that has to be the biggest nonstop stretch of shitiness this side of Cairo Egypt.

Cairo has 'bode in the filthiest shithole evah category. A distant second is Naples followed closely by bridgeport.

Bridgeport is straight nasty. I spent 6 weeks in Bridgeport working out of City Hall in downtown Bridgeport. The crack houses accross the street added a nice touch to the total urban desolation. If Dickens were alive today, he would have written about Bridgeport.