GDP doubled last quarter: political implications?

#1
lawgator1

lawgator1

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#1
GDP report: Growth picks up - Oct. 27, 2011

Europe is at least somewhat solved. GDP went from 1.3 percent to 2.6 percent in the third quarter. Spending, personal and business is up. Light at the end of the tunnel?

And if so, can things in employment turn around fast enough to impact the election?
 
#2
#2
They came up with an agreement on Greek's debt. I'd hardly jump the gun and say Europe's crisis is suddenly been solved.
 
#3
#3
It's the same as Q3 last year then we tanked. It's considerably lower than Q1 and Q2 of 2010. Not enough data to say it's a trend. We need to be 5+ to be in recovery.

Double dip looks much less likely though

Also, I wouldn't say Europe is solved.
 
#4
#4
lawgator1 said:
GDP report: Growth picks up - Oct. 27, 2011

Europe is at least somewhat solved. GDP went from 1.3 percent to 2.6 percent in the third quarter. Spending, personal and business is up. Light at the end of the tunnel?

And if so, can things in employment turn around fast enough to impact the election?
Click to expand...

consumer confidence is still low, and unemployment is still high

employment isn't going to turn around any time soon, unless the SCOTUS rules Obamacare unconstitutional and the EPA stops issuing decree after ridiculous decree.
 
#6
#6
People don't really care about GDP when the UE rate is above 9%

Sorry but your boy still loses in a landslide
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#7
#7
VolsNSkinsFan said:
People don't really care about GDP when the UE rate is above 9%

Sorry but your boy still loses in a landslide
Posted via VolNation Mobile
Click to expand...

To who? I still don't see a top candidate that will be any better.
Posted via VolNation Mobile
 
#8
#8
lawgator1 said:
GDP report: Growth picks up - Oct. 27, 2011

Europe is at least somewhat solved. GDP went from 1.3 percent to 2.6 percent in the third quarter. Spending, personal and business is up. Light at the end of the tunnel?

And if so, can things in employment turn around fast enough to impact the election?
Click to expand...

Maybe, but Increasing GDP doesn't really mean anything. It could be a sign of good things, but not necessarily.
 
#9
#9
nbakerld said:
Maybe, but Increasing GDP doesn't really mean anything. It could be a sign of good things, but not necessarily.
Click to expand...


I view it primarily as a precursor to confidence for business investment, which means more hiring. Plus, as noted in the article, personal and business spending were up significantly in the quarter, signalling increased demand, and that's good just as we enter the holiday shopping season.

Also, increased GDP leads to increased tax revenues, and by a number of mechanisms. So if collections are up in coming quarters, helps ease the deficit and again increases confidence that the debt can be managed.

Its all part of just trying to get some momentum. I understand those of you expressing skepticism. I do, too, after the last four years of decline, flat, or only temporary improvement. But there's plenty of cash out there to go into productivity and it seems like if we could just get 3 quarters of sustained improvement, maybe we could get that cycle upticking again.
 
#10
#10
GDP includes government spending I believe so it doesn't necessarily lead to tax revenue increases and especially doesn't mean there are net tax gains.
 
#11
#11
It means the fed transferred about $600 b to
European central banks which facilitated
bailouts and Monday the American debt is
projected to surpass American GDP??

Some would say this is a triumph for Euro
socialism, others would say this isn't good
for America.

dogkh.jpg
 
#12
#12
lawgator1 said:
GDP report: Growth picks up - Oct. 27, 2011

Europe is at least somewhat solved. GDP went from 1.3 percent to 2.6 percent in the third quarter. Spending, personal and business is up. Light at the end of the tunnel?

And if so, can things in employment turn around fast enough to impact the election?
Click to expand...

what did europe do to change their habbits. did they change any fiscal policy? or just throw money at the problem for worry about it further down the road?
 
#14
#14
Peter Schiff addresses the GDP growth (this is the genius who wrote Crash Proof warning Americans of this recession...nobody believed him when we were high on the hog). He doesn't believe that the numbers are real because there is no way we can match our 2007 output with unemployment as high as it is (meaning it's not due to improved productivity, it's due to inflation and other market manipulations):

[youtube]http://www.youtube.com/watch?v=jKNGBv3UURg&feature=channel_video_title[/youtube]
 
#15
#15
Europe is nowhere near a done deal.

The liberal children of Greece appear likely to nix the whole thing after the "wicked rich" agreed to take $.50 on the dollar to resolve the problems.

For you liberals here... Greece IS the ultimate destination of the programs you advocate. Under Obama, gov't pay has risen and retirement plans have been enhanced. He has hired hundreds of thousands in positions that will be difficult if not impossible to eliminate from a political pov.

We do not have to guess where your ideals will lead. the PIGS of Europe have already provided great case studies.
 
#16
#16
lawgator1 said:
GDP report: Growth picks up - Oct. 27, 2011

Europe is at least somewhat solved. GDP went from 1.3 percent to 2.6 percent in the third quarter. Spending, personal and business is up. Light at the end of the tunnel?

And if so, can things in employment turn around fast enough to impact the election?
Click to expand...

Like I said, I wouldn't count Europe even closed to being solved. If I were the EU I would dump the Greeks and let them wallow in their own bankruptcy. Screw them.
 
#18
#18
The political implications of the GDP are minimal to the typical voter. The economic factors that matter to the typical voter are more direct, I would think. Unemployment, wages, taxes and inflation matter much more to the average voter. The overall health of the economy is somewhat less important than the health of his own wallet.
 
#19
#19
Kind of like the stock market? The market might be close to 12,000 today but people who don't have jobs don't really care. They are concerned about eating.
 
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