You're Awesome, America! Why the U.S. recovery will be bigger, faster, and stronger than economists

[EV_Ares]

and politicians expect.

The long-term decline of the U.S. economy has been greatly exaggerated. America is coming back stronger, better, and faster than nearly anyone expected—and faster than most of its international rivals. The Dow Jones industrial average, hovering near 11,000, is up 70 percent in the past year, and auto sales in the first quarter were up 16 percent from 2009. The economy added 162,000 jobs in March, including 17,000 in manufacturing. The dollar has gained strength, and the United States is back to its familiar position of lapping Europe and Japan in growth. Among large economies, only China, India, and Brazil are growing more rapidly than the United States—and they're doing so off a much smaller base. If the U.S. economy grows at a 3.6 percent rate this year, as Macroeconomic Advisers projects, it'll create $513 billion in new economic activity—equal to the GDP of Indonesia.

entire Slate article @ link:

http://www.slate.com/id/2250374/

[peacebird]

1. the stock market is totally unhitched from the dinner table of most Americans

We are feeling the pinch and our company is laying off ~400 workers next month. Everyone in my department got a letter offering "an early out package" which amounted to nothing more that a weeks pay per full year employment and as it would be a "voluntary" separation you would not be eligible for unemployment compensation.

Our jobs were considered "safe" for many years (white collar - programming and test) but now the company finds it can pay people in India and Bulgaria *much* less than us, and so we are expendable. This economy is NOT rebounding for people.... It sucks for average people. Now if you want to discuss how corporations and CEOs are faring.... THEY are seeing improvements.

[Bitwit1234]

2. And if we could put a muzzle on the tea bags,gag the republicans in congress

we would really zip along.

[janedum]

3. A lot of IDIOTS think, if the DOW is up, well, gosh darn it, THAT'S a recovery. yuk, yuk, yuk...

[EV_Ares]

6. And a lot of idiots think it has absolutely nothing to do with a recovery, obviously it is one part

of the factor for a recovery.

[ShortnFiery]

12. Yes, the banksters, wall street and the MIC have been SUPER-ENRICHED beyond their wildest dreams.

While the average American wage earner is being TOLD that they must:

1) Pay higher taxes (all of us!); and
2) Give up our pensions.

Yeah, things are just PEACHY while members of "The Political Elite" and "Super-Rich" hide behind their gated communities and/or leave the country in the next few years.

Welcome to the USA - Now a Third World Nation? :puke:

[DemocratSinceBirth]

13. Even The CBO Says Unemployment In 2012 Will Be >8%

And it won't be until the end of the decade that it will dip below 6%.

But here's a little song I heard:


http://www.youtube.com/watch?v=l9K4BKkLaCI

[EV_Ares]

17. Yes, unemployment is going to remain high for a while but also, unemployment is not

the only factor for recovery as it takes other variables to start improving before you can get the unemployment back down.

Also, there will be jobs that will probably never come back or for a very long time if they do. There are going to be an awful lot of changes taking place over the next few years.

[DemocratSinceBirth]

18. I Am Careful Not To Blame President Obama. He Inherited This Mess

At the microeconomic level it's hard to be in a celebratory mood with all the pain around me. How I yearn for the nineties when gas was cheap and jobs were plentiful. But booms and busts are staples of capitalism.

[EV_Ares]

20. I understand what you are saying and you are right. Right now there is so much

pain around and people scared thinking they might be the next one at the unemployment line, the stress put on families. I support President Obama and still believe in him but I even do not quite understand all the help given to Wall Street so just have to have faith and optimism that he has the bigger picture. I truly do believe his thoughts and concern are with Main Street America but not sure on the advice he is given so there we are. Much better than the alternative is how i see it.

[Hannah Bell]

22. wtf? over 4 years of unemployment over 8% is, i think, unprecedented since the great depression.

a mere detail, apparently, to the market panglossians.

"not the only factor for recovery" = the #1 factor to 90% of the population.

[DemocratSinceBirth]

14. "You're Awesome, America!"

Res ipsa loquitur:


http://www.youtube.com/watch?v=EgrBwIWj25o

[Bluebear]

25. .

[galileoreloaded]

4. Panglossian disorder strikes again. It IS an illness, you know. n/t

[laughingliberal]

5. I would prefer we would get some regulations back in place

to stop this boom/bust cycle we've been in for a couple of decades. Auto sales is good and is a solid thing that can create jobs so that's a positive. Stock market soaring? A little unnerving considering nothing has really changed as far as how Wall Street is doing business. What that means is we are sitting ducks for the next time they decide to wipe us out and take our pension funds.

[limit18]

7. Never happen,

We have seen the best America will ever be..................

[Art_from_Ark]

8. Rah, rah, sis boom BAH!

[KG]

15. !

[Bluebear]

21. Awsom!!11

[DemocratSinceBirth]

9. A Paradox

There is a paradox. As the GDP grows without a corresponding increase in the number of jobs available there will still be mass discontent and telling folks who are unemployed, underemployed, or too discouraged to look will only make them angrier.

Even the CBO predicts eight percent unemployment in 2012. That's horrible.

There can be no recovery when nearly one in five Americans is unemployed, underemployed, or is too discouraged to look for a job.

[ShortnFiery]

10. +1000. eom

[whattheidonot]

16. problems of effficiency

problems of efficiency-- as the corporate machine becomes more efficient the need for workers decrease. the government has to step in and create benefits and jobs, tax the corporations. as long as this does not happen unemployment will stay high. The less workers the better for corporations as long as economy does not go bust. The Fed has to loosen up and they have not. an increase in interests rates will hurt a workers recovery. wages have got to go up.

[DemocratSinceBirth]

19. That's Another Paradox

"as the corporate machine becomes more efficient the need for workers decrease" and with every worker who becomes unemployed another consumer is lost.

[whattheidonot]

23. step in.

this what government is for. Government has to find ways to make a worker productive where private ,stockholder driven companies make them a waste. There is a cost one way or the other. once you are unemployed for a period of time there is a huge cost.

[Bluebear]

24. True!

[DemocratSinceBirth]

26. Another Paradox

Thrift is a virtue but if everbody becomes thrifty at once the economy will collapse. Idividual virtue can lead to public demise.

[DemocratSinceBirth]

11. OK

If you wanted to bring unemployment down to six percent which is what most of us would consider an acceptable level especially if we weren't part of the six percent it will take several years of growth in the four to five percent range which is just not going to happen. Even the CBO says we will not see this level of unemployment until 2018.

I don't blame President Obama but there is little to be happy about.

[ThomWV]

27. The DOW is Up 70% in the last year? Really?

[TexasObserver]

29. Really. It's up 64% since it hit bottom below 7000 March 2009.

It bottomed out below 6700 in March of 2009. It's now 11,000.

11,000/6700 = 1.64 = 64% increase in value

It has gained about 30% since Obama took office in January of 2009.

If a person has a temperature of 106 F, and that temperature is brought back down to 101, is the person recovering? Are they better? Does that mean they're 100% back to normal?

When you get an operation and they take you to the recovery room, are you well yet? Are you better? Are you recovering?

Most of the confusion on "recovery" comes from those who don't understand what "recovery" means. They want it to mean "everything is fine now," but it doesn't. It means we are in recovery.

It's a recovery. It's not over, either. And it won't be over for another 18 months to two years. Maybe longer. We didn't get in the mess in 15 months and we're not getting out in 15 months. It takes time to turn it around.

[sendero]

28. Anyone that starts their argument..

.. with the stock market loses my attention immediately.

Yes, the IBs trading with each other have pushed the market up. It will go down 10 times faster than it went up as soon as they can suck the "retail investor" into the game again.

I'm also amazed that when something falls drastically, so many morons assume it's headed straight back up as soon as it upticks one tiny amount.

Good luck with that.

Remember, in the great depression it was leg two that really wiped everyone out. Leg two came along years after the initial crash.

[goldcanyonaz]

30. We need jobs! The only people who care about the market are those who are invested in it.

The middle class is nearly extinct.