Alright - here's your facts. -- robdogdotcom

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Subject: Alright - here's your facts.

Author:
Rob Dog Bastard

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Date Posted: 08:42:00 07/10/04 Sat
In reply to: Ray 's message, "Re: I can't get over it: MORE (republican) STUPIDITY!" on 06:03:13 07/10/04 Sat

You're right: unemployment is 5.6%. I was at work and without a reference I said 5.2% - who cares. By the way, it's down from 6.1% this time a year ago. Here's the rest of the numbers:

The US' GDP grew 3.9% the previous quarter, 4.8% for the year. That's excellent growth - especially considering that most forecasts for all of 2004 were in the 4.7% growth range. Watch out - we cannot and should not sustain that rate of growth for fear of massive inflation so you will see a slow down in the second half of this year.

Industrial production is up 6.3%. Retail Sales are up - ready for this - 8.5%! What the hell do you want for a strong economy?

The University of Michigan's consumer confidence index rose from 90.2 (good) in May to 95.6 (excellent) in June. As a point of reference, the Consumer Board's consumer confidence index jumped to 101.9 (June) from 93.1 (May).

Sales of existing homes in June hit an all time record of 6.8 million units.

Wages are up 2.2% in the last quarter, 3% in the last year (outpacing inflation, by the way).

Core inflation - even after being revised up from a staggering low 1.7% is only 2% Mind you that this (still very low) number includes fuel and produce markets which have been unusually aggressive in their pricing growth.

Still think the economy is poor Ray? If so, then there's nothing I can say - the facts speak for themselves, and they say only good things. Maybe for your next class we'll compare these numbers to the rest of the world so you can see how well we're doing in contrast to everbody else.

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Replies:

Subject	Author	Date
Re: Alright - here's your facts.	Ray	21:20:45 07/10/04 Sat