business

U.S. economy posts strong growth in third quarter

9 Comments
By MARTIN CRUTSINGER

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9 Comments
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Don't forget the $20 trillion official debt, the $81 trillion hole in Medicare, $15 trillion owed to Social Security...

The US economy better do a whole lot of growing if it wants to pay its bills.

0 ( +1 / -1 )

Just end the Federal Reserve and cut the military expenditures in half, they are as uselful as a solar power flashlight

1 ( +1 / -0 )

The US budget deficit has dropped from more than a trillion dollars several years ago to (a still big but less nasty) 500 odd billion dollars now, some 3% of GDP.

By comparison, Japan is a basketcase, and makes the US look positively frugal.

-1 ( +0 / -1 )

Once again the democratic President has put the economy back on track after the train wreck that was the bush administration. And of course now that the republicans control congress again they will attempt to destroy growth once again. Obama is the only hope US capitalism has of working in the USA.

1 ( +2 / -1 )

There isn't any better proof that the Obama-Bernanke policies were a success. This is the strongest US growth in 11 years.

Japan and Europe are still in the dumps, and will be there for a while. Russia is quickly spiraling downward. Also, the QE has ended with none of the damage that the anti-Bernanke critics predicted, because the critics were...wrong. Kudos - and even apologies - are in order.

0 ( +3 / -3 )

There isn't any better proof that the Obama-Bernanke policies were a success. This is the strongest US growth in 11 years.

And yet, you'll still hear voices from the bubble about how Obama has tanked the economy, and it's worse than its ever been.

-1 ( +1 / -2 )

Did ANY OF you posters stay AWAKE in Jr High school ( the ones saying that O' BLAMA has "fixed" the economy ) ? Any changes of the present situation is a result of expenditures implemented 8-10 YEARS ago....you haven't even BEGUN to see what your " Golfer in Chief " has done to change things.

-2 ( +0 / -2 )

Also, the QE has ended with none of the damage that the anti-Bernanke critics predicted, because the critics were...wrong. Kudos - and even apologies - are in order.

QE hasn't ended yet. The Fed's balance sheet is still like a gigantic baloon, they just stopped pumping more gas into it. The end of QE is when they let the air out, e.g. the Fed's balance sheet returns to a normal size.

In the US's favour though is their government does appear to have the ability to moderate it's spending, as I noted above. They will find buyers for the debt.

In Japan where the government keeps spending more (and the economy keeps shrinking), I don't know who exactly would be rushing to buy JGBs off the BOJ if they ever decide it's time to sell some.

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"they just stopped pumping more gas into it."

Because they no longer need to, which is the point. Further, the markets and outlook are stronger than ever, despite all the doomsdayers who said the complete opposite would happen once the "sugar high" ended.

And yet another of my predictions turned out correct.

0 ( +0 / -0 )

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