SunHerald: Strong week raises optimism for 2011

[dennis4868]

WASHINGTON -- Buoyed by a string of hopeful government reports on layoffs, factory production and consumer spending, economists are predicting that hiring and even housing will pick up in 2011 and make it a better year after all.
The reports issued this week, along with a tax-cut plan that Congress is set to pass, point to stronger overall growth next year, experts say.

Growth “has improved as the year is coming to an end,” said Mark Zandi, chief economist at Moody’s Analytics. “I’m feeling more optimistic that the economic recovery will evolve into a self-sustaining expansion in 2011.”

Zandi expects the economy to grow at an annual rate of 3.5 percent in the October-December quarter. That’s up from previous estimates of around 2.5 percent. And for 2011, he and other economists now expect growth at roughly a 4 percent pace, up from earlier forecasts of around 2.7 percent.

With 4 percent growth, the economy would at least be moving closer to the pace of expansion needed to bring down unemployment. Growth of 5 percent is needed for a full year to lower the jobless rate by one percentage point.

The full article here...http://www.sunherald.com/2010/12/16/2720943/strong-week-raises-optimism-for.html

Sorry if this article offends any of the Obama haters here....there are still a few of us on DU who think very highly of the President.

[Aramchek]

1. but, but, the Tax Cuts passed. The world must be ending, right?

[jaxx]

2. WoW that is really positive news.

Thanks!

[tridim]

3. IMO it started with a successful black Friday. Though I hate to admit that.

People are in a good mood here, and it has nothing to do with tax cuts for the rich.

[Phx_Dem]

4. Sorry haters. You lose. n/t

[eridani]

5. Jobless recoveries are so wonderful!

Not one net job created in the 00s, and the current recovery is tracking that very nicely. When are these fuckers going to have a clue that we have extremely serious problems that can't be solved by a business cycle upswing?

[TheKentuckian]

6. This is the point. Thank you.

Talking about steaming along to recovery and you can seldom if ever even net tread water on jobs is nonsense.

[AdHocSolver]

7. The economic numbers showing improvement in the U.S. economy are fraudulent.

The alleged economic growth is short term and comes from a combination of pumping billions into the economy in a short period of time using "stimulus" money and tax cuts, and manipulating the economic numbers to hide the creeping inflation caused by expanding deficits.

The depths of the Great Depression didn't occur until a few years after the stock market crash of 1929.

This country is still experiencing serious and increasing unemployment, continuing bank failures, abnormally high numbers of housing foreclosures, millions without affordable health care, huge and increasing trade deficits, a deteriorating infrastructure, a deteriorating educational system, a staggeringly expensive, and increasingly unaffordable military budget, and you think that a short term minor upward tick in some manipulated economic numbers means this country is "saved"?

Sorry if the facts refute your expressed optimism.

Government actions are not based on reality economics, but display a firm belief in trickle down, supply side economics. Government actions are merely digging the hole deeper.

The only policies that will save the U.S. economy are those policies that bring jobs back to America in order to reverse the huge U.S. trade deficit, and put Americans back to work so that they can pay taxes again and reverse government deficits.

The administration's talk about making NAFTA-like agreements with Korea show that they have no understanding of REAL economics (or, in a worst case scenario, are just doing the bidding of Wall Street and the bankers). Their claim that their policies can increase exports to offset the already staggering amount of imports and thereby reduce the trade deficit is either magical thinking or plain cynicism about public intelligence.

[cherokeeprogressive]

8. One "strong" week does not a recovery make...

Especially when the numbers are manipulated the way they're being manipulated. It seems as though every time an economic indicator is released, that number is positive until the news cycle has moved on for a few weeks or months, then that number is revised downward. It's almost like someone is manipulating numbers in order to influence poll results.

Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. Jobs. I can't be 100% sure, but I think jobs might be an important aspect of ANY economic recovery, and until we start manufacturing things the world wants to buy, JOBS won't be created.

I'm not an Obama "hater" but I'm very critical of his performance as I would be that of ANY Commander in Chief. EVERY President, nay EVERY POLITICIAN deserves microscopic evaluation 24/7. What "offends" me is the micromanagement I'm seeing by the staunchest of Obama defenders. One positive indicator and someone posts a thread claiming that the sun will shine more brightly tomorrow and weather forecasters see fair and mild weather until the end of the century, world hunger will end, and war will be a thing of the past. The last rise in the unemployment figure negates anything positive that can be said about the last fucking week.

Things ain't getting better for those standing on the lowest rung of the ladder. They're not getting better at all.

Every forecast is biased, on both sides. Every opinion piece in the M$M can be dissected and shown to be pro or con based on who the "journalist" contributed to. Deny that in such a way that doesn't make me laugh.

Lastly, EVERY politician lies to their constituents in order to get elected/re-elected. Obama included. There is not ONE politician I whose "promises" trust on this day, 17 December 2010. Not. One.

Hate to say that dennis, but there it is.

My cynicism is now armor plated and that's thanks to the bullshit I've seen in the last decade. President Obama isn't excluded; scrutiny of his performance should be comparable to the importance of his job. He gets no pass because of color, creed, religious affiliation, or any other identifying aspect of his being.

[quaker bill]

10. Don't need the numbers

I have been shopping. Last year, parking was easy to find and the stores were nearly vacant of shoppers. This year, parking is hard to find and you have to stand in line to check out. I am not and have never been a big time consumer, but I have a two year old grand daughter that I do spend a few bucks on. This year is different than the last two.

[nofurylike]

9. K&R that's great, dennis4868! thank you so much for posting it! nt

[DCBob]

11. There is a sense that things are turning around.. finally... however..

the most important indicator will be jobs. Given all the positive indicators lately, the jobs situation will have to improve soon.

[great white snark]

12. K&R. Let's hope it continues.