U.S. Third-Quarter GDP rises at 6% pace - highest since 1999

Re: Re: The Tinkerbell Economy according to house18. You just have to BELIEVE!

I hate to break this to you, but most of the jobs going overseas aren't union. Mostly because the vast majority of jobs are not union jobs. Nice try, though.

Unfortunately for you, the fact is that it is the greed and myopia of the rich and the powerful who have built a flawed economic system that is making it difficult for more and more hard working, honest Americans to earn a decent life. You see, your heroes in the executive suites don't give a rat's ass about "patriotism" or their "fellow Americans". Those sentiments, they believe, are for the chumps and the losers. If a CEO can make a few more bucks to have his orgy... er, I mean, his wife's birthday party, he'll fire all Amercians and ship their jobs to slave labor in a heartbeat.

So go on blaming working Americans who just want a decent life for themselves... er, I mean "unions", while your heroes rape you and all working Americans in the ass. You can rail ineffectually against the phantoms in your head to avoid painful truths that disprove your pre-concluded, spoon-fed mythology if you like. Enjoy the Kool-Aid.

 

I for one am going to take a wait and see approach to this latest news. Optimistic but not convinced. It seems encouraging but the real proof in the pudding will be next quarter after the latest round of tax cuts are spent.

This whole idea of a "jobless recovery" seems like an oxymoron to me.

And contrary to the shrill right wing nut-jobs like House18, I am one liberal who genuinely hopes the economy improves.

I have friends who have been unemployed for a year now and I want to see them get a job. hell I was unemployed for 6 months in 2002. It SUCKS!

Additionally I am aware how thin my own ice is. As someone pointed out I am one of many Americans who would be up sh$t's creek if my house value drastically fell, interests rates increased and my wages stagnated.

I really hate our President for many reasons but I care more about my community and my country and a healthy economy is what we need right now.

Finally, blaming unions for oversees job loss is about the stupidist thing I have ever heard. The jobs that have left this country as a result of NAFTA etc. were never union jobs in the first place. Unions are responsible for actually fighting for and keeping jobs in the states!

Of course some unions got it wrong in the 70's and 80's (an paid dearly for it in their loss of membership) but on the balance unions in America were responsible for creating the blue collar middle class and continue to hold on to what is left of that group.

 

Re: Re: U.S. Third-Quarter GDP rises at 6% pace - highest since 1999

Fine sucka, I admit it's too soon to be smug about this, but it sure as hell is good news.

 

Ha ha ha, I am a right wing nut-job! That is the funniest thing I have ever heard! I do find it odd that you have friends who have been unemployed for a year. I am curious what field they work in because I have gotton three jobs in last four months (two coaching and one management).

 

Re: Re: Re: U.S. Third-Quarter GDP rises at 6% pace - highest since 1999

Well, I'll be sure to let you know when I get out of debt and my wife gets a job - neither of which appears to be happening very soon.

 

I'm curious why you can't hold a job for more than 40 days.

 

Re: Re: The Tinkerbell Economy according to house18. You just have to BELIEVE!

Unfortunately, unions in America have already been castrated so your little rape fantasy can't work.

 

Fine, I'll take you up on this. The Bush Administration does have a pension reform plan, but it's not the one you'd think it is. Rather, the plan is to increase the maximum contribution limits to most retirement plans, make it easier to create unfunded and unregulated executive compensation plans, reduce discrimination testing requirements, and allow for more money than ever before to be put aside in deferred compensation arrangements by people who don't need the income that ends up never being taxed.

The pension reform plan that WON'T be proposed includes prohibiting the use of pension investment returns as profits on the company's accounting statements, requiring a more conservative interest rate for actuarial valuation of defined benefit pensions, strengthening--not relaxing-- the age discrimination rules as applied to cash balance conversion plans, and tightening minimum funding standards.

Some bipartisan moves have already been made, such as catch-up contributions for older workers, and loosening rollover requirements for IRAs.

Thing is, not many people are basing their votes on the cash balance plan conversion controversy. . .

 

Re: Re: Re: U.S. Third-Quarter GDP rises at 6% pace - highest since 1999

I'm quite a bit less optimistic about this than I was this morning.

I work for a Fortune 500 publicly-traded company that relies heavily on two main economic indicators to make money: jobs and interest rates. Now, strong economic news should be a good sign for a company like mine, since it should mean stronger job growth and, eventually, higher interest rates. And at the bell we were up in the market by over 1%. But then the afternoon session turned against us and the market broadly. And this isn't a new stance from the Street; we've been hit hard because of the loss of 2 million jobs (hence lost revenue for us) for the past two years.

Translation: Nothing said today made investors believe that lots of jobs are going to be created over this, or that the Fed is going to have any inflationary pressure at all to raise interest rates.

 

Re: Re: Re: Re: U.S. Third-Quarter GDP rises at 6% pace - highest since 1999

From
http://slate.msn.com/id/2090498/

"Some of the Bush boom is a matter of defining performance. We have yet to see two consecutive quarters of impressive growth. And even if (Sec. of Treasury) John Snow's prediction of 2 million new jobs in the next 12 months materializes, that is still poor by historical standards. That breaks down to only 166,000 new jobs per month—which barely covers the 150,000 new job-market entrants each month and leaves a mere handful of positions for the millions of jobless who are currently seeking work. Between October 1993 and October 2000, the economy created an average of 2.88 million jobs per year. That's a boom.

 

Coaching? Coaching what? Do you understand the unintentional irony in bragging about three jobs in 4 months? Either...

1) Your a terrible employee who can't keep a job or
2) You are yet another victim of the Bush recession with jobs being eliminated left and right.

My friends worked in the telecom industry, more specifically the wireless industry which was hit very very hard by the Bush recession out West here. I should have been clearer they have been ocassionally hired on a contractor basis but their full-time gigs with benefits and stable income dissapeared a year ago.

 

Growth with out job creation isn't sustainable either. If productivity was growing half or two thirds as fast as GDP I'd agree with you but if they are moving at 1-1 ratio or worse there is no incentive for companies to add employees which will eventually choke off future growth.

We're coming off the fastest quarter of economic growth in like 20 years and all this causes is a stabilization in employment? If the combination of a war, tax cut, and historically low interest rates aren't enough to spur job growth what will be?

 

http://www.thestreet.com/funds/supermodels/10121439.html

Interesting article, in a calamity-howling, gloom-and-doom sort of way.

Belkin believes that the Bush administration essentially "rented the 2003 recovery from Wal-Mart" by cutting taxes and mailing out rebate checks, and now faces an "involuntary deleveraging process" that will feed into weaker corporate results, softer economic statistics, worsening unemployment and, eventually, a sharp decline in real estate values.

Brad DeLong’s blog basically says the economy will either get a lot better or a lot worse. Everyone seems to think sustainability is the key.

I tend to think that tossing away money in a pointless war artificially boosted the numbers, too. But then, I hate America and all that.

 

I realize your little brains can't handle such big thoughts, but I have my management job, that I got within days of moving here and two coaching jobs, a fall sport (soccer) and a spring sport (lacrosse). So I have three jobs thus I can easily pay my bills and pay my wedding and honeymoon expenses. Maybe your friend in the wireless industry can go to work at McDonalds the headsets are wireless. Unless he has been on welfare for the last year , which is a favorite thing for liberals! Ha!

 

Yes, everyone, go work at McDonald's...

And they say it's Liberals who cry class warfare...

Yeah house, we all realize, that since you did it, everyone else should be able to do it too!

It's the poor's fault for being poor, they just don't work as hard as house... It's all a great big place where those who want work can find it, just like house.

You may have big thoughts, but they are all about yourself. Try thinking outside yourself for 5 minutes, genuis.

I'd like you to explain how you got your job, who you knew, and how you got your education, who your parents are, all those things that make house so great, so we can start making sure that everyone else can start to catch up...

 

No you have no clue. This is about being sick of people whining about how they can't get a job, collecting welfare and not willing to take a job like at McDonalds. You have no fuking clue what it takes. I have never got a job because of who I knew or who I am related to. I work my ass off. It's people like you that keep making me give my hard earned money for welfare to help people who won't go out and take a job that they consider beneath them or that just want to get drunk or high instead of work. Have you ever been really hungry? Have you ever only had enough money to buy a loaf of bread...and nothing else because you won't take welfare? No, I'll bet you don't! I'll bet if you go around to local restaraunts and Wal-Mart type places you will find they are hiring. So don't give me that crap. I don't care what class you are. if you can't find a job up to whatever you believe is your stature you take something to put food on the table, even if it means wearing a paper hat.

 

*#*#*#*#*#*# YOU! I know you're full of crap because anyone that says they've never gotten a job because of who they know, or who they are related to is lying... YOU ARE A LIAR! And even if I were to give you the benefit of the doubt, and you are are one of those people that made everything they have from nothing, nothing from their parents, nothing from anyone. Then you Sir, are the EXCEPTION to the rule... I'm going to repeat that for you, YOU ARE THE EXCEPTION TO THE RULE, and if you ever came to the point where you couldn't afford a loaf of bread, I would hope to God, my tax dollars took care of you, no matter how STUPID you are. Yeah, we know that those jobs take care of people with house payments. Those jobs don't pay the bills of a family of 4. I'm sure you'll give me some horsesh!t about breeding being exclusively a right of the rich eh? Those jobs at Wal-Mart aren't for people with degrees! People are sick of being underemployed! Not only that but it's sad that we have our 65 year olds and up, filling those jobs at Wal-Mart.

You Pompous Prick!

Keep mortgaging our future.

You're tired of people whining that they can't find a job... Spoken like a man with a job...

Think OUTSIDE OF YOURSELF!!!!!!!!!

 

Man you need to get a valium. You have some serious issues!

 

So you've resorted to trying to put words in my mouth...

You need a reality check...

How would you know I have issues, when you can't take grasp of issues that don't directly concern you?

Keep lying to yourself, you're the big winner...

 

Yes you caught me trying to put words in your mouth. I am sure that everyone here would have thought that you actually said you needed anger management classes. No need for me to put it when they can read your post an it's hissy fit style rantings. I know you have issues based on the way you responded by having a coniption. Obviously you don't really understand how these boards work. I will leave you to your next temper tantrum and ignore it since it will be just the same. Goodnight and continue acting like a child.

 

House18 who the hell are you to judge others so easily? Who made you God?

For the record House18 you made some really ass-hat assumptions about what I posted and my friends.

1) The two friends who I have been talking about one is a Libertarian and the other a Republican (House18's head explodes at the thought)

2) They rightfully collected unemployment when they did not have work - they were laid off.

3) They scraped together enough contract work in their field to make ends meet.

4) They spent down their family savings.

House18 you need to really go buy a clue with all of that extra money you are making. I posted that I am happy at the notion of a rebounding economy because I know alot of unemployed people (of which I was one). Oregon has the highest unemployment rate in the country.

You imediately launch into some rant about welfare blah blah blah. I got news for you buddy - there are alot of hard working mean and women out there who have been hit hard by the Bush recession through no fault of their own. Layoffs don't care whether you are Democrat or Republican.

You are insulting the very people who are out hitting the pavement every day trying to find work without having a single clue about their life.

You then suggest that my two friends go out and work at McDonalds despite their graduate degrees or many years in the field. What the hell sense does that make? What would they be accomplishing by doing that other than taking away valuable job hunting time?

How old are you? What life have you lived? You seem awfully sheltered and naive. Do you have a college degree? Who paid for that degree (don't lie)?

 

Your posts always amuse me because they are always so personal. Any thought contrary to your own gets you so uppity that you treat like someone commented on your mom. You also like to call people names. Go ahead everyone read his posts away from the politics board. he can't even talk about his favorite team without getting this way. Not as bad as "He's In Fashion" but just below. Excellent stuff, keep up the good work!

 

That's crap and you know it and you are just upset because I called Sr Alex a whiner (which he is).

House18 -GO back and read my initial post on this thread. Where did I call anyone a name? I initially posted something positive on this thread saying I don't care who is President I want to economy to improve.

You then turn around and say we have "simple minds" and " Maybe your friend in the wireless industry can go to work at McDonalds the headsets are wireless. Unless he has been on welfare for the last year , which is a favorite thing for liberals! Ha!"

And you wonder why I am insulted? Calling my friends (who are definitly not liberal) who I have watched struggle to make ends meet "on welfare" as if they are some lazy stooges.

Now read my most recent post - I gave you an insight into the many people - R, D, I, Green, non-voters - who are hurting as a result of the Bush recession. Yet you choose to ignire that.

You really are classic - you sucker punch someone in the neck and then act all shocked when they get pissed off.

Answer the questions I asked you you pu$$y (there now THAT is an insult) instead of schucking and diving.