BEA: GDP Increases at 3.5% Annual Rate in Q3

Submitted by
CalculatedRisk on Thu, 10/29/2009 - 4:40am (14 comments)
in
Eric wrote on Thu, 10/29/2009 - 4:41 am

Bacon!

token bull wrote on Thu, 10/29/2009 - 4:42 am

Green Shoots

What, me worry?

iceman wrote on Thu, 10/29/2009 - 4:42 am

But the question is: what happens in 2010?

Disappointment.

gabyjan wrote on Thu, 10/29/2009 - 4:47 am

bacon?well okay ham
well now i know what happened golden sacks got the wrong figure they didnt get the "advanced estimate" ooops,but nevermind the real estimate will be downgraded in a month or so .........

shill wrote on Thu, 10/29/2009 - 4:44 am

For the life of me I have no idea what criteria this number is based on outside of the Fed and Federal government "gifting" money to the banksters and them infusing it into the stock market. What other segments has there been grown besides gov't spending? Housing? Nay! Manufacturing? Nay, Retail sales? Nay. Asset appreciation (excluding stocks)? Nay. Capital expenditures? Nay.

These numbers are cooked and if this is Barry's way of creating the illusion that things are improving in the general economy, he's gravely mistaken.

digalert wrote on Thu, 10/29/2009 - 4:45 am

UE down a whopping 1,000 to 531,000, it's party time...wait a minute where's all the "saved or created" jobs?

RATM wrote on Thu, 10/29/2009 - 4:45 am

Real federal government consumption expenditures and gross investment increased 7.9 percent
in the third quarter...

Current-dollar personal income decreased $15.5 billion (0.5 percent) in the third quarter...

Disposable personal income decreased $20.4 billion (0.7 percent) in the third quarter.

The third brick wrote on Thu, 10/29/2009 - 4:45 am

How we should read the GDP report?

The Reference Frame: Arnold Schwarzenegger & probabilities

Cinco-X wrote on Thu, 10/29/2009 - 4:45 am

From the Market-Ticker:
Slope Of Hope Interview, Pt 1
Listening to him, you wouldn't think he was a lunatic Wink Some good insights-

homedad43 wrote on Thu, 10/29/2009 - 4:49 am

Okay, let's review.
Q3 @ 3.5%.
UE monthly still in excess of 500K.
Housing inventory seems to vanish with overhang dropping to about 7 months worth from a years worth in only nine months with light sales.
DJIA hits 10K on very thin volume.

This is Acid-Trip Economics.

The Mortgage Pig wrote on Thu, 10/29/2009 - 4:50 am

Weekly Initial Unemployment Claims: 530 Thousand

actuaryfromsg wrote on Thu, 10/29/2009 - 5:10 am (in reply to...)

Am I the only one not buying these figures? Residential investment up more then 20% yet the housing starts and completions are almost flat q on q:

Briefing.com: Housing Starts

gold_tracker wrote on Thu, 10/29/2009 - 7:26 am

It's amazing to me that anyone would claim we've pulled out of the recession when unemployment soars and all we've seen is government money prop up banking and wall street. In fact all the cash for clunker, cash for appliances, cash for houses, that is going on is just creating another series of bubbles. And given the current economic climate those bubbles won't last. Greed will overwhelm them and they will burst leaving yet another huge mess for gov to sweep in and say, "Let me save you."

walter_map wrote on Thu, 10/29/2009 - 10:23 am

GDP can be further increased by creating more "money" of thin air and gifting to the banksters. It counts as "government spending" in the classical expenditure equation. Debt is never properly accounted for in official GDP statistics. In fact, a lot of "money" is actually debt.

In other words, you too could be a billionaire if you borrowed a billion dollars - regardless of whether or not you could ever make the payments.

GDP is a spectacularly lame measure of national economic health and over the years has evolved into yet another instrument of financial deception:

WHAT'S WRONG WITH THE GDP?

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