December 23, 2014 at 1:14 pm #4862VitalogyParticipant
Evidence is mounting that the U.S. economy is kicking into high gear.
Gross domestic product soared 5% on an annual basis in the third quarter, the government said on Tuesday.
To put that in perspective, it’s the strongest quarter of growth since 2003.
“Other than the first quarter’s weather-induced contraction, there’s no doubt the economy has been great this year,” said Dan Greenhaus, chief global strategist at BTIG.
Investors cheered the news, sending the stock market to record highs with the Dow crossing 18,000 for the first time ever.
This is the third and final reading on GDP, and the 5% figure represents an upgrade from the Commerce Department’s initial estimate of 3.9% growth.
The stellar third quarter also marks an acceleration from the very strong growth of 4.6% during the second quarter and the rough first quarter when GDP was -2.1% due to the harsh winter weather.
All of that helps explain why hiring has increased dramatically this year. Employers added 321,000 jobs in November, making 2014 the strongest year for job growth since 1999.
The American public appears to be taking notice of the flurry of positive economic headlines.
For the first time in seven years, more than half of Americans think the economy is in good shape, according to a new CNN/ORC poll released on Tuesday. That marks a big improvement from October when just 38% of Americans said economic conditions were somewhat or very good.December 23, 2014 at 8:00 pm #4867
But I thought we were heading to complete doom and perdition! Obama has fucked things up to the point where we can’t get out! The Dems have sold us down the river and the commies are taking over! Or could it be that the O’Haters are completely freaking WRONG, and have been for years?December 24, 2014 at 1:45 pm #4909VitalogyParticipant
Yep, completely and utterly wrong.
And they will continue to be proven wrong as we see continued strong growth the next 2 years.December 24, 2014 at 5:38 pm #4913Chris_TaylorParticipant
The market and economy will always have its down times and we’ll be due for one in about 3-4 years. Should be interesting when it happens how we handle it. We actually had small downturn in 2011, but we seemed to have survived it without too much notice.December 24, 2014 at 5:47 pm #4914paulwalkerParticipant
Yes, there is certainly an ebb and flow with US stocks. However, the past few years have been WAY positive. Even the little downturn of the past month turned around quickly. I don’t see Real Estate reaching the bubble it did in 2007, but stocks should continue to gain, as they have historically. Of course, gains should be in consideration of how long you intend to be in the market. Diversification is important as you get older, and as each year brings you closer to retirement, obviously your risk should decrease. Basic financial 101.December 26, 2014 at 10:37 am #4938Deane JohnsonParticipant
As a business owner, there’s nothing I like better than upbeat economic news, I don’t care which party it benefits.December 26, 2014 at 10:42 pm #4954
I notice that Herb hasn’t been posting Obama’s popularity numbers recently. I wonder why? Stolen from elsewhere:
Possibly because of a stronger economy and the popular opening with Cuba, the president’s approval rating is up as this year closes.
Obama now stands at 48% approval at the end of his sixth year in office.
That ties with Ronald Reagan at the same point in his presidency.
Bush was at 37% in the same period.
Clinton was ahead of everyone at 67%.December 27, 2014 at 2:44 am #4958skepticalParticipant
Just when the GOP thought they gave Obama a spanking last month, the President delivered the best economic news since, well, Clinton.
Care for humble pie, Mr. Speaker?December 29, 2014 at 3:43 pm #5100
President Obama Named The Most Admired Man In The World For The 7th Straight Year
http://www.politicususa.com/2014/12/29/president-obama-named-admired-man-world-7th-straight-year.html?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+politicususa%2FfJAl+%28Politicus+USA+%29December 29, 2014 at 5:02 pm #5104jerry1949Spectator
Those of us in the US who see him close up already had our popularity contest in November. How well did he do where it counts?December 29, 2014 at 5:04 pm #5105
Checked the economic numbers lately? He’s doing just fine.December 29, 2014 at 10:04 pm #5115missing_kskdParticipant
Those numbers are down because the haters are maxed out excited about voting.
Few other things worked for them.
Think about that. Interesting, isn’t it?
Not a damn thing stuck to Obama, because he didn’t actually do anything nefarious.
I like that about Obama. I don’t like all his calls, but I do like how he’s handled himself, his family, and a very hostile environment in Washington.
Obama, Pelosi and Reid passed more legislation than has passed the entire time since.
The GOP clown posse really isn’t indicative of anything right now.December 30, 2014 at 10:46 am #5119jerry1949Spectator
Nothing stuck to him? A democrat senate candidate refused to admit she voted for him. Many other democrat candidates ran from him as well. Something stuck to someone, and he’s the reason the democrats have been decimated.
30 of the 60 senators who voted for Obamacare are gone.
That says what about their legislation masterpiece?
Except for the executive brach of the US government, the “clown posse” owns the rest by a wide margin. Thank you Obama.December 30, 2014 at 10:49 am #5120AmusParticipant
Say’s the guy who doesn’t have the time or interest to look up facts.December 30, 2014 at 12:32 pm #5128missing_kskdParticipant
He might as well be posting dead air.
@F&B, your discussion partners here took the time to learn, understand your contributions and pose good questions and dialog.
You did not. This will not go unnoticed.
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