What say when "they" start bragging on the slight uptick in the economy?

[Ksec]

answers would be greatly appreciated since I know nothing about the economy:(

[Skittles]

1. here's the good news

they're saying it's BUSH'S ECONOMY. When it turns south - very soon, will it be CLINTON'S AGAIN???? ASK THEM THAT.

[Loonman]

2. One indicator does not a boom make

I think this is from the soaring profits Halliburton is making in Iraq.

[phillybri]

3. The uptick is due to two things....

War spending and quick shot from tax cuts.

Both are temporary, and therefore the effects will be fleeting.

Just remind them that they said this is Bush's economy when it turns back down....

[Tempest]

7. Three things actually

The declining dollar is making U.S. produced goods more affordable overseas.

[phillybri]

9. Oh and PS: The recovery ain't creating jobs

The average person doesn't give a shit about GDP, they do care about losing their jobs....

[MI Cherie]

4. 'Tis the season ...

... to be shopping! Christmas is only 56 days away! Is it just the holiday cycle?

[denverbill]

5. Point out to them that the stock market was higher last year.

And the year before, and the year before.

Peak in 2002 - 10600
Peak in 2001 - 11300
Peak in 2000 - 11500

Currently - 9800.

Ask them if their 401K has recovered completely from all the losses Bush has caused?

[MGKrebs]

6. "Enjoy it while it lasts"

[Military Brat]

8. Ask them, "Where are the jobs?"

The surge is a glitch. This GDP (gross domestic product) spike would not be such a big deal if it hadn't sunk so low to begin with. Also ask them, "What positive effect do you see in your life, and how long do you think the effect will last?"

As for me, I'm waiting for the Christmas scorecard.

[Gingersnap]

17. you're right

it wouldn't be such a "huge jump" if the economy weren't so shitty to begin with. Remind them of all the unemployment--that's where "the economy" hits most people.

[KoKo]

10. The Forgotten Few /An excellent article which explaining what's going on!

Read this because it's a great explanation of the "other side" of the Bush Propaganda from "Financial Sense."
The Forgotten Few

At a time when the price of most stocks are soaring and valuations border on the ridiculous, very few bargains
exist in the market. What drives the price of most equities these days is momentum. It has become a game of
money chasing money. The Fed has done its job to keep hot air flowing into asset bubbles and keep them from
deflating. If there is talk about deflation it is asset deflation they are referring to. Central bankers are most worried
about the value of paper assets declining from junk bonds to small cap stocks, to stocks and bonds in general.
Very little has been accomplished within the real economy.

Judging from the value of markets around the globe and especially here in the U.S., you can say that monetary
policy has been effective in resurrecting old bubbles (stocks) and creating new ones to take their place
(mortgages, bonds, and real estate). The NASDAQ is up nearly 45% this year and still has no earnings. The
companies that are doing well this year are those companies that are either losing money, have no earnings, or
are experiencing balance sheet problems. In a momentum driven market things such as real earnings, dividends,
price-earnings ratios have no place. Investment decisions aren’t based on research, industry fundamentals, or
sound investment principles. Instead, in a frothy speculative market such as we now have today what other
investors are doing, what they are buying, and what the general mood of investors is becomes more important.

The basic decision to buy is predicated on the fact that others are buying the same thing. No one wants to be
left out, so resources are deployed and asset prices get inflated. While everyone in the financial industry may be
worried about asset deflation what we are actually seeing is asset inflation. When professional investors or
amateurs are willing to pay 30, 50, 100 or more times earnings we’re talking about a casino, not an investment
market. The best thing many of these highly speculative stocks have going for them is that they have no
earnings. If they did investors would realize just how expensive many of these companies are and the fact that
they are being ransomed at a fool’s price. Even the companies that are actually making a profit may not have
real profits if one takes into consideration all the variables such as stock options, inflated pension plan earnings,
or write-offs which routinely get dismissed or are left out in most earnings releases. As already mentioned, this
market trades on momentum and not fundamentals. How else can P/E multiples of 30, 40, or a 100 be justified?

More at................

http://www.financialsense.com/Market/archive/2003/1020.html

[CWebster]

12. Smells like Enronomics again.

What a racket. Anyone for investing their social security in the stock market?

[KoKo]

13. CWebster, sorry I posted the wrong article. I just reposted correct one!

Check out the new one. It's a shorter and more to the point read if you aren't a market timer. Sorry!

[CWebster]

16. thats okay

I enjoyed that one too.

[West Coast Democrat]

11. My Answer: When the Economy Is ACTUALLY "Booming".......

Greenspan will ACTUALLY raise interest rates!!!

Wouldn't it be nice to have your Savings/Money Market accounts actually earning a decent interest rate again? (5-7% during the Clinton Boom)

[Spazito]

14. This is the domestic side of the Bush PR blitz...

Happy, happy in Iraq and, guess what, happy, happy at home too! I believe both are as factual as Santa Claus and the Tooth Fairy.

[tom_paine]

18. I also believe it as much as Soviet Toilet Paper Production Figures

I never understood, if the Busheviks hate the Bolsheviks so much, why do they emulate their propaganda strategies?

[denverbill]

15. Or use their method. Say it's still Clinton's economy:).

Since these dumbfucks are still blaming the economy on Clinton 3 years after he left office, I think Clinton deserves all the credit for the 3rd quarter growth in 2003.