It's amazing how news like this gets underplayed by the MSM.

Read it here

Don't you get tired of reading how surprised the "experts" get when one of their dire forecasts turns out to be erroneous? Instead you have to find out the economy is still growing on some backwater news outlet instead of any hint of prominence by the MSM. It doesn't fit with their smoke and mirror routine they're running for the DNC right now.

From the article:

__________________
"The heart of the wise inclines to the right, but the heart of the fool to the left."
Ecclesiastes 10:2 (NIV)

Um, the article says the figure is unrevised from the preliminary estimate and exactly in line with expectations.

__________________
Man up.

__________________
"The heart of the wise inclines to the right, but the heart of the fool to the left."
Ecclesiastes 10:2 (NIV)

Of course! Though this being economics, every upside has a downside. A fast-growing economy raises inflation fears. A slow-growing economy raises recession fears.

And I could point out that overall growth for 2007 will be much lower than that, and the trend lines point toward GDP growth slowing, not accelerating. The Fed's prediction for 2008 is something like 2.5 percent, with a 20% chance per quarter of negative growth.

But the third quarter was just dandy, in and of itself.

__________________
Man up.

When the poor are getting poorer, it only annoys me that the rich are still getting richer. Especially when they're apparently getting so much richer that it makes up for the increased poverty in the GDP.

These figures that are often quoted are badly skewed by the poor immigrants legal and illegal pouring into our country. If you take these people out of the equation poverty has been consistently dropping.

Yeah? Hm.... evidence? That would be an interesting stat....

'Cause I mean, the argument is always that the illegals take the jobs that the Americans don't want.... right?

So I mean, that must mean that there's so many jobs that the middle class should be entirely fluorishing right now, right?

Hmm..... yeah, I think I'd like to see "evidence" on that one.

1) Glitch can not provide evidence for his comments. It was merely the opinion of a person with no formal education.

2) Does anyone still hate the Fed? Looks like they are doing a great job of keeping the economy afloat and out of recession.

3) There is still a chance of recession. We may be in one right now, and not find out about it until next year.


Ixtellor

__________________
_______________________________________
George W. Bush "I don't think our troops ought to be used for what's called nation-building"

Blasphemy is a victimless crime.

Are you sure about this? 'Cause just looking around my neighborhood, it seems like times are getting pretty hard. Christmas is a bit bleak this year for those people who feel like they have to get their kids expensive stuff. Fortunately I'm not much of a materialist -- but a lot of friends and family who normally get Christmas presents aren't getting any this year 'cause I just don't got the funds, friends. And there's a lot of that going around.

From where I sit, the economy is not doing so well. I mean, I can't complain, exactly -- there's enough to eat (now if we only we could afford non-poisonous food!), and the ceiling only leaks rain in really high winds. But there was a lot more money floating around eight or nine years ago. Now none of the working-class folks have enough money to keep local businesses going, which means that local businesses aren't able to hire local workers, which means ... well, you know how the cycle works.

I don't have a formal education? If you say so it must be true.

I was actually repeating the summation of a discussion from Michael Medvid's radio show.

It would seem pretty clear that if the immigrants coming in are in poverty then this would increase the poverty stats in this country. Here are some stats from the Center for Immigration Studies showing the high poverty rate of immigrants:

http://www.cis.org/articles/2001/mexico/poverty.html

And here is what I was saying - not sure why you guys our unable to see this:

"The government last week released its annual statistical report on poverty and household income. As usual, we -- meaning the public, the press and politicians -- missed a big part of the story. It is this: The stubborn persistence of poverty, at least as measured by the government, is increasingly a problem associated with immigration. As more poor Hispanics enter the country, poverty goes up. This is not complicated; but it is widely ignored."

Concerning poverty: "Hispanics accounted for all of the gain."

http://www.realclearpolitics.com/art...erty_trap.html