Comments on: Third Quarter Real GDP

By: John

John — Sat, 03 Mar 2012 06:08:40 +0000

Hi Bill and Phil: nice question, wasner, and post. In the case of the USA, Prez Clinton managed a budget surplus for a bit over 2 yrs, killed the economy by sucking away private sector income and wealth, and the budget deficit was restored. Unfortunately, it was restored the ugly way through slow economic growth that lowered tax revenue. We then had a jobless recovery for many years. Because the budget stance remained tight all thru the Bush administration, our private sector had to deficit spend. This finally collapsed in 2007 and the rest, as they say, is history. Now we have the budget deficit exploding, in a particularly ugly way. It is cushioning the downturn but Americans are now too scared to spend. Unfortunately the Obama admin does not understand MMT and so refuses to take decisive, progressive action. We will, of course, eventually recover because the budget deficit will continue to grow. But meanwhile we are 25million jobs short. Too much suffering. It could get a lot worse before it gets better.

By: William Right

William Right — Tue, 03 Nov 2009 15:26:08 +0000

I agree with you. I think our economy is not yet recovering but more on stabilizing.

By: Dan @ Israeli Uncensored News

Dan @ Israeli Uncensored News — Mon, 02 Nov 2009 12:54:11 +0000

Oddly, a lot of media outlets fell uncritically for the government’s bravado of increased GDP. For our part, we commented immediately that the small increase must be related to mammoth government spending.

By: McTeer: Too Much Optimism on GDP - MarketBeat - WSJ

McTeer: Too Much Optimism on GDP - MarketBeat - WSJ — Fri, 30 Oct 2009 20:01:33 +0000

[...] fact that inventories are still falling is “a very positive detail” in the GDP report, says former Dallas Fed President Bob McTeer. “The rebuilding of inventories and its boost to GDP is still in our future,” he says, [...]

By: Brian W.

Brian W. — Fri, 30 Oct 2009 15:06:13 +0000

It sounds like much of the 3.5% economic growth was in spite of government programs.