GDP Growth reaches +5% annually

[Giancarlo]

Now for my regularly report on the GDP growth in the US:

http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk%2C&s2=ad_right1_topfin&tp=ad_topright_topfin&refer=topfin&T=markets_bfgcgi_content99.ht&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=APMLHOBXGR3Jvd3Ro

It has reached 5% annually, the highest since early 2000.

This is looking good...

[Giancarlo]

Correction: For the first quarter. Not annually.

[shizzle]

Ever hear of the Edit button? So if it's so good, why do people say our economy is getting worse.. why are people getting laid off?

[Giancarlo]

Originally posted by Ragzzz
Ever hear of the Edit button? So if it's so good, why do people say our economy is getting worse.. why are people getting laid off?

There are more jobs being created than lost. And for some reason the media focuses on those lost. And the economy is not getting worse, it is getting better and is very resillient to sour claims.

5% is a very strong number.

[syd]

Like I said before, facts and figures mean ---- all to your average joe.

Sure, McD's might have a new restaraunt to hire some new McB!tches, but your average man supporting a family of 5 can't find a job where he makes more than $10/hr. That's what the situation is like here.

Take Sumas, USA... that place is a freakin' GHOST TOWN. Job growth? Hah...

[lotsofissues]

Santa Clara Country 1.5 year ago we had 1.5% unemployment, now we have 7.5% unemployement. THE WORLD IS COMING TO AN END!!!

[Giancarlo]

Originally posted by syd
Like I said before, facts and figures mean ---- all to your average joe.

GDP Per capita growth affects the middle class mostly.



Take Sumas, USA... that place is a freakin' GHOST TOWN. Job growth? Hah...

Well you gotta head towards the more Urbanite Areas, like Houston. Texas is having the best Gross State Product growth out of all 50 states...


Santa Clara Country 1.5 year ago we had 1.5% unemployment, now we have 7.5% unemployement. THE WORLD IS COMING TO AN END!!!

1.5% unemployment is way too low... there must of been statistical problems in those figures I am guessing.

Spain had 20% unemployment back in 1990, now it has 12%. So the world is not coming to an end.

[lotsofissues]

Believe it.

[Giancarlo]

Originally posted by lotsofissues
Believe it.

Sure I do.

In other places though the unemployment rate is going right down. In urban and suburbian areas throughout the US especially.

In European Countries especially Spain and Italy.

[Owen]

Originally posted by syd
Like I said before, facts and figures mean ---- all to your average joe.

Sure, McD's might have a new restaraunt to hire some new McB!tches, but your average man supporting a family of 5 can't find a job where he makes more than $10/hr. That's what the situation is like here.

Take Sumas, USA... that place is a freakin' GHOST TOWN. Job growth? Hah...

While in certain places there are problems for the "average joe" there are places where there are very few problems for them. Every place does not have the exact same economic situation. Citing a specific incidence neither proves or disproves the economy is improving.

For instance, where I live, in a middle class area in the state nicknamed "number 50," there is no real problem with people losing their jobs, and as a matter of fact, the metro area(I know, Sort of a oxymoron with Mississippi) I live in has actually been experiencing tremendous growth.

Those figures may not mean a lot to a specific person, but on the whole, they do show the nation economy is improving. You have to be in the right industry or area to experience the growth of the national economy. It isn't a universal effect.




Originally posted by Ragzzz
So if it's so good, why do people say our economy is getting worse.. why are people getting laid off?

The reason people still say our ecnomy is struggling is due to the fact that we recently were in a economic slowdown, but the US got out of it. As for people getting laid off, it happens all the time, plus there are some lingering effects from the slowdown.