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| Home Front Economy |
| US logs better but still weak growth |
| 2008-05-30 |
| The economy logged slightly better -- but weak -- growth in the first quarter, spurred by improved sales of U.S. products overseas. While that's heartening, the country's economy is still far from being out of the woods. In fact, a closer look behind the 0.9 percent increase in the gross domestic product during the January-to-March period revealed much caution on the part of consumers who have been clobbered by the housing, credit and financial debacles. "What emerges is a picture of an economy that's gasping for air," said Bernard Baumohl, managing director of the Economic Outlook Group. |
| Posted by:gorb |
| #4 First thought upon reading the headline was about the forestry industry and 'climate change.' |
| Posted by: USN, Ret. 2008-05-30 14:25 |
| #3 Need I remind people of double digit unemployment and double digit inflation and fuel shortages and negative gdp growth for years under Jimmy Carter? Dman morons in the press want to call this a bad economy when its every bit as good in terms of unemployment and inflation as were the "good" economy under Clinton in the mid 90's. And back then we were not actively at war. |
| Posted by: OldSpook 2008-05-30 11:15 |
| #2 In the press, the economy will be in the dumpster till at least January 20, 2009. Recovery will depend on who's inaugurated.oo |
| Posted by: Nimble Spemble 2008-05-30 10:32 |
| #1 "The economy is scraping along close to the bottom" Obviously spoken by someone with very little knowledge or experience regarding the definition of economic bottom. They should look at the stagflation of the 1970-85 period. Or the Great Depression. Or various crashes about every generation before that. If we're scraping bottom, it's on a seamount, because this thing can crash a whole lot more than it has. |
| Posted by: Menhadden Snogum6713 2008-05-30 10:21 |