Right wing media propaganda at Yahoo again

[Democat]

U.S. economy grows at blistering 7.2% rate

GDP Growth Strongest Since 1984

The U.S. economy rocketed ahead at its fastest pace in more than 19 years in the third quarter of 2003 as consumers, their wallets fattened by tax cuts, went on a buying spree, an unexpectedly strong government report showed on Thursday.

http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=1&u=/nm/20031030/bs_nm/economy_gdp_dc

Nothing like the objective "journalism" over at Reuters/Yahoo to help Bush out of a jam.

If the economy was down, you can bet it wouldn't be "rocketing" or "blistering" down.

[AP]

1. I wonder how much of this is fueled by re-finacing mortgages at inflated

valuations, which is putting money from debt in the pockets of people who really don't have the equity to secure those loans.

Didn't I read that citigroup had their biggest quarter ever because of the record number of refinanced mortgages.

[Democat]

2. Yahoo/Reuters says it was Bush's tax cuts!

Follow the script!

[Military Brat]

7. Citigroup one of top 10 bush campaign contributors 2000

Number 10. They gave even more than Enron.

Is anyone surprised by this GDP statistic and how they're spinning it? I'm still waiting for the number of unemployed to return to sane levels.

[veganwitch]

3. "Strongest Since 1984" ???

jeez that was only 19 years ago?? and the year? 1984? fjnord?

another funny thinga bout bringing up the past. im on the metro this morning and some tourist was talking about getting rid of the democrat govenor in his state. (he had a southern drawl but had alot of the "yuck yuck" pronounciation so im not sure from where). anyway he said "we gave them a surplus in 1971 and they have done nothing but waste it. people are getting sick of it."

jeez it only took bush 3 years to blow the largest national surplus in history.

[KoKo]

4. ROFL! I just saw that! I was in three Big Malls this weekend here in my

Boomtown in NC. I live in the Research Triangle in NC which has seen unprecedented growth in the last 12 years. While there are people walking around the malls I saw very few people buying and the stores themselves were pretty empty. In some cases the personnel were standing by the windows looking at the people walking by in boredom. There were large racks of left over Summer Merchandise in all the big department store (the worst I've ever seen) and even the small stores had a good sized rack with left over merchandise. People in general had a "down" look as if they were there "just to look" and maybe by a cookie or grab a meal at the mall Food Court. Halloween week is ususually a big shopping time. It was pretty quiet in those stores. Our unemployment rate is over 6% and at one point we were down to 2%.

If it's like that here in "Boomtown" then what's it like in the rest of the country where there wasn't a boom?

I thought this article on Yahoo was the biggest piece of propaganda I've seen about how the economy is doing. But, if you repeat the lie often enough some will believe it, which is how we know the Bushies operate.

[9215]

5. neglected to mention it could have been "fattened"

by war/waste spending.

It is amazing how sensationalism only used to make Bush's economy look peachy and subdued reporting when it is looking down.

This is also how the stock market is reported. The talking-zipheads become animated when there is an upturn, then go back to neutral when it goes down. It is subtle hype.

And what about the deficit spending by our "fiscal conservatives" to get this "rocketing" economy?

[zoidberg]

11. Defense spending was unchanged in third quarter

Non defense government spending increased around 4%. Last quarter military spending drove GDP growth. Not this quarter.

[9215]

16. Got some links for this?

Point being is that demand for military crap will/is increasing.

Is payment to Halliburton and the other fascist corporate predator companies "military spending" or is that considered "non-defense" spending?

There are many war bills coming due and the contracts have to be paid and none of these bills would have been incurred without this war.

[liberalman11]

6. Very good use of adjectives

Yahoo needs to tone it down on the adjectives a bit

[Skittles]

8. No

they need to tone down their RIGHT-WING BULLSHIT

[sam sarrha]

9. the stats are probably accurate if you dont subtract the trade deficit..

which is 5% to 7%, and consider that the jobs increase are all the desperate people grabbing up 2 or 3 minimum wage, part time Christmas jobs each to keep from losing their house to the bank and end up living in their car with 3 kids and 2 dogs. We were 3 months from homeless, i took a truck driving job.. which considering you actually work/live in a truck 24/7 for 312 days a year and they say we will make $30,000 a year..I doubt it..that will make my annual hourly wage $0.25 an hour. Think about that the next time you see one of those SWEAT SHOPS on wheels go by. Most team drivers... 2 drivers that keep the truck rolling 24 hours a day, work 4/4 or 5/5, that is they drive for 4 hours, then try to sleep 4 hours while the other guy trives for 4 hours etc, etc....for F'n years!!! drivers have 65% more health problems, heart disease, hypertension, Serious Obesity because you are never out of a stinking truck..you actually word all the time.

[zoidberg]

12. Imports increased more than exports in third quarter

Net exports are including in GDP calculations.

[Blue_Roses]

10. this is so stupid

who wouldn't go on a spending spree when they have extra cash. I don't call "blistering" the word for a botched-up tax plan. We shouldn't have to have tax cuts to get the economy rolling. WE NEED JOBS!

[Zynx]

13. We shouldn't kid ourselves.

This was very fast growth, but the odds are that it will be nowhere near as high in the fourth quarter.

[Freddie Stubbs]

14. Yahoo doens't write the articles, Reuters does

[HootieMcBoob]

15. not to change the subject but...

these are the highest rated articles at yahoo...

http://story.news.yahoo.com/news?tmpl=index&cid=1760

[javadu]

17. Yahoo Is Not RW Media

I have often found Yahoo to be very fair, although the use of adjectives in this article are overdone. However, I am glad to see some good numbers on the economy. I know that an improved economy will be a tremendous help to many of my family members.

In regards to the election, Democrats need to have a diversified strategy for beating smirk. There are many reasons for not reelecting smirk without hoping for a bad economy.

[Democat]

18. Yahoo fair?

Sure!

Fox is fair and balanced too.

[sandnsea]

19. Tax credits & gas prices

Gas prices caused the cost of goods to go up, both contributed to this. And the tax credits were a huge part of this. That's what I read in the actual report that I think I linked over in LBN. Actually, we probably ought to spin this around to the Democratic child tax credits. How much better would GDP be if ALL families had gotten the child tax credits?