Colin Powell said he was impressed with Obama's record on the economy
- Thread starter ChkitOut
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Obamacare may have been upheld by the Supreme Court but that does not mean that major parts of that legislation will be funded by a Republican Congress. It's a pyrrhic victory by Obama because implementation of large aspects of this legislation is very much in question because the required beaurocracy to implement the new mandates will not be funded and budgeted. His big mistake was not including some Republican votes into the legislation - which he certainly could have gotten with some sensible tort reform alone. If you have a "death panel" you can have a "lawsuit panel". In the first 150 days of his presidency, I would guess that he might have gotten 25% of the Republican Congress to go along with it if he had merely included some sensible tort reform. If not a panel, then some caps.
Quote from RCG Trader:
This is only going to get worse, AK. The meltdown comes in just 12 more days.
Then they will blame the "liberal" media, and the sheeple, talk about revolution, how the country is doomed, how there needs to be secession, and all the other delusional things that come to their delusional minds.
Won't get any meltdown from me. I'll just continue the preparations I have been undergoing to get posted internationally, and move all my money off shore. I have absolutely no issue with that. The only thing I'll leave is my sanctuary in the NC mountains.
Plus, we'll get four more years of stupidity to rag on.
Q3 GDP: U.S. economy picks up
By Annalyn Censky @CNNMoney October 26, 2012: 8:58 AM ET
http://money.cnn.com/2012/10/26/news/economy/gdp-report/index.html?hpt=hp_t3
<img src="http://i2.cdn.turner.com/money/dam/assets/121026123342-chart-gdp-102612-story-top.jpg">
NEW YORK (CNNMoney) -- U.S. economic growth picked up in the third quarter, boosted by stronger consumer spending, an improving housing sector and increased defense spending.
Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 2% from July to September, the Commerce Department said Friday, faster than the 1.3% in the second quarter.
Economists surveyed by CNNMoney had predicted a 1.7% growth rate for the third quarter, but were still reluctant to celebrate.
"It's a ho-hum number given the environment we're in," said Sam Bullard, senior economist at Wells Fargo. "We're looking ahead to fiscal cliff, and holiday sales forecasts this year are lower than last year. We're limping into the final quarter this year."
Residential construction accelerated at a 14% pace, signaling the housing sector may have finally started recovering. But because housing makes up less than 3% of the entire U.S. economy, the impact was minor.
Consumer spending, which makes up more than two-thirds of the entire U.S. economy, grew at an annual pace of 2% in the third quarter. This was the single biggest contributor to stronger economic growth, and was supported mainly by stronger auto sales.
Related: New-home sales hit 2-year high
Suprisingly higher federal defense spending also boosted the economy, growing at a 13% annual rate after shrinking in the three prior quarters.
"We can't figure out where that came from," Bullard said. "That category is highly susceptible to being revised, and we expect it's going to get watered down."
Meanwhile, businesses were a bit more cautious and slowed their spending. Weak exports also weighed on growth.
By Annalyn Censky @CNNMoney October 26, 2012: 8:58 AM ET
http://money.cnn.com/2012/10/26/news/economy/gdp-report/index.html?hpt=hp_t3
<img src="http://i2.cdn.turner.com/money/dam/assets/121026123342-chart-gdp-102612-story-top.jpg">
NEW YORK (CNNMoney) -- U.S. economic growth picked up in the third quarter, boosted by stronger consumer spending, an improving housing sector and increased defense spending.
Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 2% from July to September, the Commerce Department said Friday, faster than the 1.3% in the second quarter.
Economists surveyed by CNNMoney had predicted a 1.7% growth rate for the third quarter, but were still reluctant to celebrate.
"It's a ho-hum number given the environment we're in," said Sam Bullard, senior economist at Wells Fargo. "We're looking ahead to fiscal cliff, and holiday sales forecasts this year are lower than last year. We're limping into the final quarter this year."
Residential construction accelerated at a 14% pace, signaling the housing sector may have finally started recovering. But because housing makes up less than 3% of the entire U.S. economy, the impact was minor.
Consumer spending, which makes up more than two-thirds of the entire U.S. economy, grew at an annual pace of 2% in the third quarter. This was the single biggest contributor to stronger economic growth, and was supported mainly by stronger auto sales.
Related: New-home sales hit 2-year high
Suprisingly higher federal defense spending also boosted the economy, growing at a 13% annual rate after shrinking in the three prior quarters.
"We can't figure out where that came from," Bullard said. "That category is highly susceptible to being revised, and we expect it's going to get watered down."
Meanwhile, businesses were a bit more cautious and slowed their spending. Weak exports also weighed on growth.
Two aspects of this which you failed to mention (surprise)...
1. Government "consumption" soared for the first time in ten quarters to actually add one third of the GDP number. So the government provides it's add number, right before the election, and it's the only gain in several years? Riiiight.
2. It will be interesting to see what the final revision is, which interestingly enough occurs AFTER the election. But don't worry, I'll post the follow up in this thread (bookmarked).
Sap.
Whoops, I forgot about the conspiracy theories. Phoenix, those Glenn Beck videos did you in, sir. People who listen to Coast do so for entertainment. People who watch Glenn Beck or listen to Alex Jones need medication.
Seriously.
Know what Tsing? I have said if Mittens had run as the moderate that he is, this race would not be that tight. Most Progressives ( which is apart from liberals) would not mind Mittens. I have said all summer that if Mittens wins, oh well. The Mittens we saw in debate one is who he really is, and that is why he dominated. The next two debates were Obama contrasting who he really is, and what he did to win the GOP nomination. He should have just run as a Moderate, torpedoes be damned, and he could be planning is inauguration speech right now. As it stands, he has some issues.
As it stands, Obama get four more. Now, as traders, does this matter to us individually? No. But it might mean something as to overall quality of life. I listen to the BBC World Services on a daily basis, and I can tell you that I have no, ZERO, intention of living anywhere else. The rest of the world is pretty much a shithole.
Mittens should have said, fuck you to the GOP on the social issues, and he would be President today. Instead, he cowed to the Tea Party and the other nutters.
It really is too bad.
So you're going for benghazi as a conspiracy theory.
didn't happen , nothing to see here, business as usual eh?
That's just laughable, benghazi is a FACT.
Now the excuses are indeed a bit of conjecture at this point but do you really want to hitch your wagon to the narrative you're claiming.
I'm waiting for you to defend the administrations behavior or gross ineptitude on benghazi.
benghazi is not going away and just because you don't like gb has no bearing on the fact he's doing the job the lame stream media as of yet has dutifully attempted to ignore.
The story is wayy too big for the lame stream media or more importantly for Congress to ignore.
When the truth gets out only the stupidest of democrats and most radical looney leftists will support what the administration did.
Not even mainstream democrats are going to be willing to turn a blind eye to the egregiousness of the incident .
gb is a total nutjob. He is such a total nutjob that not even FOX could keep him. Keep getting your "information" from beck, and well....you will be a nut job too. Notice your thread, not even the hardest righties on this board would touch that stuff.
Are you back here licking up that crap your master, Obama, feeds you? Did you like how he lied just about every time he talked during the debates? He and Biden just make up facts. Just yesterday Biden was saying Romney wants to give the wealthy a $500 Trillion tax cut. LOL And, why are they running such a negative campaign. Romney isn't doing that.
It's desparation by Obama, lacky. Well, you don't have much longer to be posting around here anyway. Or are you just as big of a liar as Obama?