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US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 7:15 pm
by LibraryLady
How does the U.S. economy do it?
Europe is floundering. China’s growth is slowing. Japan is struggling to sustain tentative gains. Yet the U.S. job market is humming, and the pace of economic growth is steadily rising. Five full years after a devastating recession officially ended, the economy is finally showing the vigor that Americans have long awaited.
Last month, employers added 288,000 jobs and helped reduce the unemployment rate to 6.1 percent, the lowest since September 2008. June capped a five-month stretch of 200,000-plus job gains — the first in nearly 15 years.
After having shrunk at a 2.9 percent annual rate from January through March, largely because of a brutal winter, the U.S. economy is expected to grow at a healthy 3 percent pace the rest of the year.
Here are some reasons the United States is outpacing other major economies:
http://www.dallasnews.com/business/personal-finance/headlines/20140708-whats-making-the-u.s.-economy-a-world-beater.ece
Re: US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 7:26 pm
by Red Oak
American does it by rigging the statistics.
47% of American Adult under 65 are not working.
Of the 53% of Adults that are working 12% are working part time.
Each part time job counts as one job, so the fact that some people work more than one part time job skews the number, so in reality the number of Adult Americans with no job is higher than it appears.
The has no growth in jobs since 2007. As a matter of fact labor participation rates are the lowest in 30 years.
Re: US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 7:44 pm
by Grassman
Wait till school starts again and those part timers go away. Might not lead the nightly news then.
Re: US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 7:47 pm
by Bob Of Burleson
Nattering nabobs of negativism.
Re: US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 7:50 pm
by Red Oak
Want to look into the numbers I posted ?
I didn't make them up.
Re: US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 7:57 pm
by Bob Of Burleson
We all know that anyone can find figures on the Internet to back one side or the other of discussions. The difference is that LL and I go for the positive numbers while you and GM go for the negative.
Re: US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 8:03 pm
by Red Oak
I go for the real numbers.
Re: US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 8:05 pm
by Red Oak
Oh one other little tidbit, the population has grown by around 16 million since 2007, not counting this latest invasion.
Re: US Economy outpacing the rest of the world
Posted: Thu Jul 10, 2014 8:10 pm
by Red Oak
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 8:48 am
by John In Austin
-2.9% GDP in 1st quarter. The economy isn't growing.
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 8:57 am
by GFB
John In Austin wrote:-2.9% GDP in 1st quarter. The economy isn't growing.
We are now well into the 3rd quarter..and waiting for 2nd quarter data.
It's supposed to be quite good this time..we'll see.
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 9:04 am
by GFB
LibraryLady wrote:How does the U.S. economy do it?
Europe is floundering. China’s growth is slowing. Japan is struggling to sustain tentative gains. Yet the U.S. job market is humming, and the pace of economic growth is steadily rising. Five full years after a devastating recession officially ended, the economy is finally showing the vigor that Americans have long awaited.
Last month, employers added 288,000 jobs and helped reduce the unemployment rate to 6.1 percent, the lowest since September 2008. June capped a five-month stretch of 200,000-plus job gains — the first in nearly 15 years.
After having shrunk at a 2.9 percent annual rate from January through March, largely because of a brutal winter, the U.S. economy is expected to grow at a healthy 3 percent pace the rest of the year.
Here are some reasons the United States is outpacing other major economies:
http://www.dallasnews.com/business/personal-finance/headlines/20140708-whats-making-the-u.s.-economy-a-world-beater.ece
This writer is really stretching the info here. First of all, of course we're doing better than most of the world. Even when things seem lousy here, we're usually better off than the rest of the world.
"China's growth is slowing"..yes, after years of yearly growth that we have never seen in this country..often in the double digits.
"Five full years of a devastating recession"..the recession lasted a total of 6 months back in 2009, the rest was the real damage..a painfully poor recovery.
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 9:55 am
by John in Plano
Bob Of Burleson wrote:We all know that anyone can find figures on the Internet to back one side or the other of discussions. The difference is that LL and I go for the positive numbers while you and GM go for the negative.
So less discuss the info presented in the link, which I'm rewriting while being factual with numbers/time frames...and asking 2 questions .
a) Approx 15 years since 5 consecutive months of plus 200,000 jobs.
b) Lowest unemployment rate since Sept 2008
1. What did Clinton do to kill job growth?
2. What did Bush do to kill employement participation?
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 11:04 am
by Bob Of Burleson
GFB wrote:
"Five full years of a devastating recession"..the recession lasted a total of 6 months back in 2009, the rest was the real damage..a painfully poor recovery.
Then by your reasoning the issue boils down to which is better, a devastating recession or a painfully poor recovery. I'll take the painfully poor recovery.
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 11:22 am
by GFB
Bob Of Burleson wrote:GFB wrote:
"Five full years of a devastating recession"..the recession lasted a total of 6 months back in 2009, the rest was the real damage..a painfully poor recovery.
Then by your reasoning the issue boils down to which is better, a devastating recession or a painfully poor recovery. I'll take the painfully poor recovery.
In this case..bad choice.
The real damage was done during the several years that followed.
Remember all the small businesses that disappeared?
They went away because..although they COULD weather the short recession, they could NOT weather the protracted period of a lousy economy.
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 11:25 am
by GFB
Bob Of Burleson wrote:GFB wrote:
"Five full years of a devastating recession"..the recession lasted a total of 6 months back in 2009, the rest was the real damage..a painfully poor recovery.
Then by your reasoning the issue boils down to which is better, a devastating recession or a painfully poor recovery. I'll take the painfully poor recovery.
..and to further clarfiy things for you..the RECESSION was not DEVASTATING.
As recessions go, this one was fairly moderate.,.NOTHING compared to what happened in 1981..or WORSE..what happened in the 70s.
But THOSE recessions, had the typical rapid growth recovery..getting it?
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 12:22 pm
by planosteve
All recessions are caused by the expansion of money and credit. How bad they are depends on how serere the expansion was. And how the FED reacts. The FED made the current recession the longest in history by pouring the coals to the printing presses in 2009 to reinflate the economy. It seemed to work for awhile. But, there is no free lunch. As the economist Von Mises pointed out many years ago, there is no way to avoid an economic downturn caused by the expansion of money and credit. You can have it short and steep or long and shallow. The FED decides that.
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 12:56 pm
by Bob Of Burleson
GFB wrote:
..and to further clarfiy things for you..the RECESSION was not DEVASTATING.
Agreed, but the "we're all gonna die" garbage that was exhaled during the recession made it seem worse. That's why screaming for political purposes that the present economic recovery is shaky is dangerous. Rhetoric like that has a tendency to be self-fulfilling.
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 1:03 pm
by BigTex
"We're all gonna die" is political rhetoric?
That's good to know.
Re: US Economy outpacing the rest of the world
Posted: Fri Jul 11, 2014 1:05 pm
by Bob Of Burleson
You hadn't noticed? When the Democrats are in control, the Republicans say, "We're all gonna die." When the GOP is in power, the Dems say, "We're all gonna die."