The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Tuesday, December 23, 2014

The US Economy Continues Improvement; The GOP Hibernates



On the day the Dow Jones hit and surpassed 18,000, President Obama's comments this past fall echoed like a yodeler in the Himalayas.  The president said the fall election would be about "these policies." While progressives and liberals stayed home and failed to match the 30% of conservatives who elected a GOP majority in the House and Senate, we see exactly what President Obama meant regarding "these policies."


Markets
Dow
18,024.17
 +64.73
    +0.36%
Nasdaq
4,765.42
-16.00
-0.33%
S&P 500
2,082.17
+3.63
+0.17%
10 Year Yield
2.26%
+0.09
--
Gold
$1,173.40
-4.60
-0.39%
Oil                        $56.95   -0.17    -0.30%
     

We realize reminders of the Obama Administration Stimulus is over done, but we at the TPI insist of reminding of the incompetence and uncaring nature of the GOP. he Grand Ol Party fought the Stimulus as they fought against the Auto Industry Loan (bailout). Obama's request for $1.2 Trillion was shaved to $745 to $845 million; post March of 2009 the US economy commenced healing. We have come a long way without one molecule of cooperation from the GOP and conservative America.

From the record Dow Jones Industrial Avg. (18,000 first time in DIJA History) to a closer look at the nation's Gross Domestic Product.




Excerpt
Twice in recent days, President Obama has pointed to recent economic trends and heralded an “American Resurgence.” Indeed, as I type, the lead headline at the White House’s homepage reads, “America’s Resurgence is Real.” 
It’s getting easier to believe this argument all the time. Take this morning, for example. 
The U.S. economy grew at a 5.0% annual pace in the third quarter, matching the best performance since the third quarter of 2003. The increase in real gross domestic product was revised up from 3.9%, mainly because of consumer spending and business investment, the Commerce Department said Tuesday. 
Economists polled by MarketWatch had predicted GDP would be revised up to a seasonally adjusted 4.4%. Consumer spending, the main source of economic activity, was revised up to 3.2% from 2.2%.
Remember, GDP growth at 3.9% looked pretty good when the preliminary tally was released a month ago. But 5% growth is amazing – and the strongest growth Americans have seen in 11 years.

CNN Money
GDP
chart gdp 122314

Gas prices are down? You wouldn't know it if you are a Fox News viewer. 

89 straight days of lower gas prices

December 23, 2014: 7:34 AM ET

Read more


If you have a few minutes, consider watching the first 3:25 minutes of a segment from toady's Politics Nation: linked. While the remainder of the segment has major relevance for high information readers, we respect your time; the first 3:25 minutes delivers the message behind my decisions to post-up the clip.


If you skipped viewing the Politics Nation clip, you simply must view the following segment clip excerpt from All In /Chris Hayes.I shorted the segment after the news portion of the clip as I do not feel the remaining eight minutes of dialog adds any value to the information imparted in the first six minutes.




President Obama and his team readily (and consistently) state, the US economy has areas of performance that lag behind Market indicators and GDP. Americans are working for less and while many more feel the economy is "good" beyond the the less than "good; perception just before the fall elections.


The economic policy Institute published a research study that reminds of the impact of trickle-down Reaganomics on wages, without specifically attributing reduced wage growth to GOP policy.


As stated in the two MSNBC segment above, the GOP reaction and response to the significant economic news is shameful and very much child-like. Maybe, if we ignore the good news, it will go away." Yes, the economic news must sit as a Boogey-man to all things GOP. Steve Benen keyboarded regarding the GOP response, or lack there of.


Additional resource information http://www.whitehouse.gov/blog/2014/12/23/third-estimate-gdp-third-quarter-2014

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