Economy is fading fast...

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Troglodyte
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Economy is fading fast...

Post by Troglodyte » Wed Jul 31, 2013 7:44 am

US economy grows sluggish 1.7% in Q2
Published Bangkok Post: 31 Jul 2013 at 19.49 Online news: World LINK

The US economy grew 1.7 percent in the second quarter after a 1.1 percent pace in the first quarter, according to the Commerce Department report released Wednesday.

The Commerce Department sharply revised the first-quarter rate to 1.1 percent from the prior 1.8 percent reading.

The GDP report was accompanied by extensive revisions to GDP data back to 1929, done roughly every five years.

Barclays analysts, in a research note, said that downward revisions to growth in the previous four quarters "mean that the underlying trend is no stronger."

The second-quarter GDP report revealed a slowdown in consumer spending, which accounts for two-thirds of US economic activity.

Personal consumption expenditures increased only 1.8 percent after a 2.3 percent rise in the first three months of the year.

Exports provided a boost, jumping 5.4 percent and wiping out the prior quarter's 1.3 percent decline.

"The most important thing today's data tells us is that the US economy continues to grow far too slowly to reliably improve job prospects; it remains far from healed from the Great Recession, and the root problem remains deficient demand -- a problem exacerbated by austerity," said Josh Bivens of the Economic Policy Institute.
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Re: Economy is fading fast...

Post by Wabash » Wed Jul 31, 2013 7:51 am

In the never surprising logic that infects conservatives, positive growth is now considered "fading."
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Re: Economy is fading fast...

Post by Troglodyte » Wed Jul 31, 2013 8:44 am

That's got to be response # 7 Wabash.. :lol:
Your "positive growth" kinda left out the inflation factor, which would result in 0.0% growth.
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Re: Economy is fading fast...

Post by joefutbol » Wed Jul 31, 2013 1:11 pm

"Your "positive growth" kinda left out the inflation factor, which would result in 0.0% growth."


Uhhhhhhhhh....... what?

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Re: Economy is fading fast...

Post by Red » Wed Jul 31, 2013 1:17 pm

There was never a growth to fade.
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Re: Economy is fading fast...

Post by joefutbol » Wed Jul 31, 2013 1:20 pm

How do you figure that?

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Re: Economy is fading fast...

Post by AsIfYouKnew » Wed Jul 31, 2013 1:22 pm

Well, usually you have to maintain a growth rate that is equal to or greater than the growth of the population. Given the estimated population growth of 2.3% for this year, this would indicate a shrinking economy.

https://en.wikipedia.org/wiki/Demograph ... ted_States
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Re: Economy is fading fast...

Post by joefutbol » Wed Jul 31, 2013 1:38 pm

Sure, if you want to use an estimated population growth rate for the year and compare it to the actual GDP growth rate for a single quarter. I don't know why you would do that, though.

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Re: Economy is fading fast...

Post by AsIfYouKnew » Wed Jul 31, 2013 1:43 pm

Quarterly estimates are on an estimated annualized basis, not 1.7% per quarter. That would be a 6.8% per year.
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Re: Economy is fading fast...

Post by joefutbol » Wed Jul 31, 2013 2:11 pm

Right, but it is still only one quarter of data, and will likely not be reflect the actual growth rate. Where did you get the estimated population growth rate of 2.3% for this year? That would mean we'd have to reach 322.2 million this year. That would mean that 6.1 million more people would have to enter the United States in the next five months. It was only .9% last year (I think), and everything I have read says it's on the decline.

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Re: Economy is fading fast...

Post by AsIfYouKnew » Wed Jul 31, 2013 4:00 pm

I gave a link to the estimate. I am not going to the mat on the number, as it is a wiki, but it could be reasonable. As for the decrease in the population, we have a birth rate that is currently not able to sustain our population. However, we are making up for that with immigration (legal and not so much).
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Re: Economy is fading fast...

Post by joefutbol » Wed Jul 31, 2013 4:30 pm

I see it. Looks like that is for 2010 to 2013, though. It should be less than 1% again this year.

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Re: Economy is fading fast...

Post by AsIfYouKnew » Wed Jul 31, 2013 10:26 pm

Good catch. I missed that. Still, 1.8% is not very much growth.
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Re: Economy is fading fast...

Post by Wabash » Thu Aug 01, 2013 4:49 am

Still better than the mess the President was given.

This rate of growth is remarkable given the amount of obstruction the GOP has caused to prevent economic recovery.

Still waiting for the Jobs Bill Boehner promised would be his priority on DAY ONE!!
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Re: Economy is fading fast...

Post by AsIfYouKnew » Thu Aug 01, 2013 1:00 pm

I would have done better, except for the blaming that I need to do on the other guy.

Blah, blah, blah.
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Re: Economy is fading fast...

Post by kramer » Thu Aug 01, 2013 5:44 pm

Wabash wrote:
This rate of growth is remarkable given the amount of obstruction the GOP has caused to prevent economic recovery.
The only economic plan the democrats have is redistribution of wealth.
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Re: Economy is fading fast...

Post by Wabash » Fri Aug 02, 2013 5:45 am

You continue to show your naivete if you don't recognize the redistribution of wealth that has occurred as a result of conservative policies.

Though I'm not surprised you are oblivious to that fact.

But on a happier note:

US Adds 162K Jobs. Unemployment at 7.4%
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Re: Economy is fading fast...

Post by Vilepagan » Fri Aug 02, 2013 7:44 am

kramer wrote:The only economic plan the democrats have is redistribution of wealth.
The same is true for the Republicans...they just disagree on the "from" and "to" issues.
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Re: Economy is fading fast...

Post by Brooke » Fri Aug 02, 2013 10:29 am

Economic growth does not necessarily indicate a healthy economy. I am not an expert of economics, but I do know that is basic. So, how come politicians speak of economic growth as always positive when it is not?
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Re: Economy is fading fast...

Post by Wabash » Fri Aug 02, 2013 10:39 am

So what is a good indicator of a healthy economy?
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