First Qtr. Growth Slashed, Inflation Up

[truhavoc]

Suprise, Suprise another revision!

http://www.reuters.com/newsArticle.jhtml;jsessionid=S4OMSV2BS0GZECRBAEZSFFA?type=businessNews&storyID=5515449

WASHINGTON (Reuters) - The U.S. economy grew much more slowly
than previously thought in the first quarter while inflation
was higher, a government report showed on Friday. 

<snip>

The surprise downward revision to gross domestic product -
which measures total output within the nation's borders - cut
growth to a 3.9 percent annual rate in the first three months
of 2004 from the 4.4 percent reported a month ago.. 

[hatrack]

1. "Economists were surprised by the results . . . "

Rinse, lather, repeat.

[David__77]

7. Not ALL economists, that's for sure.

There are plenty of economists who see that the "growth" is mostly dependent on the money-pumping by the Fed, which cannot continue indefinitely without causing high inflation, and also by war expenditures which do nothing to improve the living standards of the people. I'm tired of economists being lumped into a single group. It's really a branch of political science, and as such has many forms which conform to varying ideological standpoints.

[Cocoa]

2. Bush is such an OPTIMIST

Americans want a president that is always WRONG. Not like that buzzkill Kerry.

[SEpatriot]

3. Reality just keeps dragging them down

Bushco is just making matters worse, and the real economy shows it. They really think they can keep pushing this "optimism" (read deceit) thing on the public to think that things are getting better. They're really off base.

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. - Henry Ford

[tapper]

4. Stagflation, anyone? n/t

[Philostopher]

5. "The *surprise* downward revision"

Yeah -- right. Like they don't do this every month, now -- trumpet the 'good news' on A-1 above the fold, then make a correction on page 8 of the Business section two weeks later. Surprise, surprise. Not.

[tandot]

6. "the economy is down because of Clinton"

I bet if anyone would go to freeperland, they'd find posts like that.

[mhr]

8. Growth And Jobs, Not What We Are Told - My Oh My!

The following chart is from the Dallas federal reserve.

FWIW - I live in Dallas.