Strong 3Q signals end of recession

Look, you can try to cover up 10% unemployment all you want with a phony GDP number of 3.5%, you can go out there and say you saved the economy, but there are no jobs. Obama is gratified, but by his own benchmark his economy is still failing. Now, let me see if I can put this GDP number into context for you,'cause it's phony. It is a fake number. Gross domestic product needs to be understood as the sum of three things: consumption by consumers, investment by business, and spending by government, CIG. Consumption, investment, spending by government. So they say the total GDP went up 3.5%. But was there any new consumption by consumers? No. Was there any new investment by business? No. Was there spending by government? Yes. That's the G. The increase is in G, spending by government.

There was no investment in business. There was no consumption by consumers. You've seen all the numbers. Home sales down; consumer spending down. There was no economic growth. What happened here, you had the Clash for Clunkers fiasco and now the Edmunds.com bunch estimates that that program cost taxpayers $24,000 for every car sold, and then there was that first time home buyers fraud, all kinds of government spending which was government borrowing. So the government spending sector goes up, and they, oh, the economy grew by 3.5%. It did not. Government grew. All that's happened here is that money has been shifted from taxpayers today and tomorrow into Obama approval ratings today.

Wales wrote:

George W. Bush's recession is over. Some long for it to return, like boy Hannity.

You are a typical little Marxist Obozo butt boy.
As pointed out in post before mine, The GDP is up only by your
stupid president spending money that he is printing.

There is NO recovery. It is the opposite. The economy is crashing
and can not be kept up by printing imaginary dollars.
Get ready for a very cold and painful 2010.

Uncle Kunkel wrote:

<quoted text>
You're not alone. I suffer from FFMT disease (Fat Fingers Many Typos). I've been known to err on things like Los Angeles Unified Stool District, LA Pubic Library, that long word for photographers who take pictures of German movie stars - pappanazis.

You must be a Green Bay Packers fan... you gotta keep from chugging those 52 oz beers and shooters of ranch dressing!!! LMAO!!!

Uncle Kunkel wrote:

<quoted text>
You're not alone. I suffer from FFMT disease (Fat Fingers Many Typos). I've been known to err on things like Los Angeles Unified Stool District, LA Pubic Library, that long word for photographers who take pictures of German movie stars - pappanazis.

Funny post, uncle.

Hermosa Beach Trojan wrote:

Unemployment is still rising does anyone really believe the recession is over??

Yeah, Obama and a handful of democrats.

I think a better sign of the recession being over would be when unemployment drops, drastically.

I have talked to business owners all over the country and it's not better than last year at this time...it is worse....with little optimism and hope.....as far as statistics go, those can be manipulated to prove any point a person/entity wishes to make.....we may be at a plateau of not getting worse in some areas, it depends on the focus.....personally I feel we are just on hold until another crash takes place, even worse than the last......it might take a year to six years but I feel it's inevitable as the effects of the last year really trickle down......such as the enormous debt we've incurred and the rights we've given up and have had taken make it impossible to overcome.

Recession??? what recession? I got a 10,000 square foot house, 5 SUV's and some pet alligators in the swimming pool.

Energy conservation??? never heard of it!

Scott Blumenthal wrote:

I have talked to business owners all over the country and it's not better than last year at this time...it is worse....with little optimism and hope.....as far as statistics go, those can be manipulated to prove any point a person/entity wishes to make.....we may be at a plateau of not getting worse in some areas, it depends on the focus.....personally I feel we are just on hold until another crash takes place, even worse than the last......it might take a year to six years but I feel it's inevitable as the effects of the last year really trickle down......such as the enormous debt we've incurred and the rights we've given up and have had taken make it impossible to overcome.

Sadly, we have become a paper and fear-driven economy.

Used to be a manufacturing driven econ.

The first is MUCH more volatile and unpredictable.

LOL wrote:

I think a better sign of the recession being over would be when unemployment drops, drastically.

LOL, you would measure the depth and length of a recession by how many people are out of work at any given time? How absolutely last century of you! What you and I would think of as an ongoing recession is:(drum roll, please) A JOBLESS RECOVERY!!!!!(Cue the confetti!). Now, see how much better that sounds? Today is all about form, forget function. Getting 10 million decent middle class jobs up and running is going to take a lot of hard hard work, if it can be done at all. How much easier to trumpet the recovery and never mind those pesky jobs. Pay no attention to that unemployed man behind the curtain,(apologies to "The Wizard of Oz").

Vic wrote:

<quoted text> LOL, you would measure the depth and length of a recession by how many people are out of work at any given time? How absolutely last century of you! What you and I would think of as an ongoing recession is:(drum roll, please) A JOBLESS RECOVERY!!!!!(Cue the confetti!). Now, see how much better that sounds? Today is all about form, forget function. Getting 10 million decent middle class jobs up and running is going to take a lot of hard hard work, if it can be done at all. How much easier to trumpet the recovery and never mind those pesky jobs. Pay no attention to that unemployed man behind the curtain,(apologies to "The Wizard of Oz").

This administration seems to be wearing very rosy glasses.

Their assertion that the economy is recovering is, so far, very contrary to what most economists are saying.

And the jobs they are claiming to have created with the benefit of our tax dollars, are temporary jobs at best.

Stupid, stupid, stupid actions and predictions by a stupid admimistration.

I just said goodbye to 85 coworkers last week, and only 1/2 of them will return next year. The recession is here to stay!