US Economy grows 3.3% in Q2

[odie1kanobe]

http://biz.yahoo.com/ap/080828/economy.html

Looks like the hope for recession by some posters didn't happen.

Given the dismal housing stats, credit crunch and the fact that Oil prices were at their highest with the $$ been at its weakest then its an outstanding performance.

[politicsisrotten]

http://biz.yahoo.com/ap/080828/economy.html

Looks like the hope for recession by some posters didn't happen.

Given the dismal housing stats, credit crunch and the fact that Oil prices were at their highest with the $$ been at its weakest then its an outstanding performance.

Yeah read this earlier,the Georgian war and looming Cold War suits the US,hence the markets are performing better,this could change overnight.

[seabhac siulach]

http://biz.yahoo.com/ap/080828/economy.html

Looks like the hope for recession by some posters didn't happen.

Given the dismal housing stats, credit crunch and the fact that Oil prices were at their highest with the $$ been at its weakest then its an outstanding performance.

I believe something of the order of 2.7-2.8% (annualised) of that figure is due to the artificial stimulus of 160 billion dollars injected by the yanks into their economy. This is something the cheerleaders for the US economy (the BBC et al.) have almost to a man/woman failed to point out. These cheerleaders consistently talk up the good news about the US economy and talk down the bad (the opposite for the eurozone). The US economy is, at best, scraping along with real GDP growth of approx. 0.5%. What will be interesting are the GDP figures for the remaining two quarters of 2008.

[Clanrickard]

http://biz.yahoo.com/ap/080828/economy.html

Looks like the hope for recession by some posters didn't happen.

Given the dismal housing stats, credit crunch and the fact that Oil prices were at their highest with the $$ been at its weakest then its an outstanding performance.

But..but...but..the lefties have benn telling us their economy is "going down the crapper" to quote Sligoboy. How is this possible? Surely if they democratised *snigger* production they'd do a lot better?

[Thac0man]

http://biz.yahoo.com/ap/080828/economy.html

Looks like the hope for recession by some posters didn't happen.

Given the dismal housing stats, credit crunch and the fact that Oil prices were at their highest with the $$ been at its weakest then its an outstanding performance.

Good news at least for those that do live on this planet. I suppose as far as investers are concerned the US is a safer bet these days then alot of other loactions.

[seabhac siulach]

http://biz.yahoo.com/ap/080828/economy.html

Looks like the hope for recession by some posters didn't happen.

Given the dismal housing stats, credit crunch and the fact that Oil prices were at their highest with the $$ been at its weakest then its an outstanding performance.

But..but...but..the lefties have benn telling us their economy is "going down the crapper" to quote Sligoboy. How is this possible? Surely if they democratised *snigger* production they'd do a lot better?

Those figures are what used to be called 'cooking the books'...artificially boosted by the stimulus...
The yanks are big into these revisions of their GDP figures. Remember the last quarter of 2007? First they told us they had had growth of 0.6% (if I remember correctly), then later, coincidentally after the time for headlines or any effect a negative figure might have had on the markets, they quietly revised this down to a -0.2% contraction. So, a 0.8% turnaround! Just like that...either something fishy is going on with their figures (media managed perhaps??) or they should change their statisticians...
These figures from the US are to be taken with a sizeable pinch of salt...

[Nagy]

Of course the economy is growing! Just look around Ireland, it's obvious!

[Clanrickard]

Of course the economy is growing! Just look around Ireland, it's obvious!

Good man we are talking the US not Ireland. Do keep up there's a good lad.

[Pete Bondurant]

http://biz.yahoo.com/ap/080828/economy.html

Looks like the hope for recession by some posters didn't happen.

Given the dismal housing stats, credit crunch and the fact that Oil prices were at their highest with the $$ been at its weakest then its an outstanding performance.

But..but...but..the lefties have benn telling us their economy is "going down the crapper" to quote Sligoboy. How is this possible? Surely if they democratised *snigger* production they'd do a lot better?

Those figures are what used to be called 'cooking the books'...artificially boosted by the stimulus...
The yanks are big into these revisions of their GDP figures. Remember the last quarter of 2007? First they told us they had had growth of 0.6% (if I remember correctly), then later, coincidentally after the time for headlines or any effect a negative figure might have had on the markets, they quietly revised this down to a -0.2% contraction. So, a 0.8% turnaround! Just like that...either something fishy is going on with their figures (media managed perhaps??) or they should change their statisticians...
These figures from the US are to be taken with a sizeable pinch of salt...

Revising GDP the figures is routine, you dolt. We do it here too - the figures even of several quarters ago are refined as better information comes in from tax returns etc.

[Nagy]

Of course the economy is growing! Just look around Ireland, it's obvious!

Good man we are talking the US not Ireland. Do keep up there's a good lad.

The economies of the world are tied together by a 1000 strings

"When Wall St. sneezes the rest of the world catches cold."