Economy improves in 2Q07 - Yep, the sky's still up there!

**Greebo** · 07-31-2008, 10:51 AM

http://www.msnbc.msn.com/id/25945131/

WASHINGTON - Economic growth picked up in the second quarter as tax rebates energized consumers. The rebound followed a treacherous patch where the economy jolted into reverse at the end of 2007.

The Commerce Department reported Thursday that gross domestic product, or GDP, increased at an annual rate of 1.9 percent in the April-to-June period. That marked an improvement over the feeble 0.9 percent growth logged in the first quarter of this year and an outright contraction in the economy during the final quarter of last year.

Housing is still down, exports are up, and the economy is hardly booming, but it's ... amazingly ... NOT collapsing into rubble.

Shocking - its almost like the major news media was...wrong?

**blitzen** · 07-31-2008, 10:53 AM

The country didn't get the energetic rebound in economic growth hoped for from the government's tax rebates in the second quarter, and the economy jolted into reverse at the end of 2007, raising new recession fears.

**Russ** · 07-31-2008, 11:10 AM

If people are not spending money, shouldn't everybody have either:
A. Have less debt
B. Have more savings.

As for the media being wrong... bad news sells papers and attracts attention. Good news is ho hum.

**Russ** · 07-31-2008, 11:11 AM

and apparently others in the US are getting sick of the bad news all the time.

http://www.msnbc.msn.com/id/25853522/

**DJ1972** · 07-31-2008, 12:05 PM

I know the economy has seen better days but, as I was sitting at Busch Stadium a couple of weeks ago with 45,000 other fans that paid at least $20 per seat and were drinking $5 sodas, $8 beers and eating $6 hot dogs while watching players that make millions a year, it occurred to me that it must not be as bad as the media wants you to think. JMHO

**Russ** · 07-31-2008, 12:07 PM

Originally Posted by DJ1972

I know the economy has seen better days but, as I was sitting at Busch Stadium a couple of weeks ago with 45,000 other fans that paid at least $20 per seat and were drinking $5 sodas, $8 beers and eating $6 hot dogs while watching players that make millions a year, it occurred to me that it must not be as bad as the media wants you to think. JMHO

oh sure, rub it in.

**DJ1972** · 07-31-2008, 12:12 PM

Originally Posted by rcannon

oh sure, rub it in.

They won too! You know I used that example just for you Russ!

**yankeegal** · 07-31-2008, 02:16 PM

My husband's second job is in manufacturing (metal) and they are so busy-they can't hire enough people. Not all areas are as bad as reported. I agree, bad news sells more papers.

**MomToTwoBoys** · 07-31-2008, 03:48 PM

People here in Canada are getting a bit tired of how much the US media is blowing things out of proportion at times. It's enough to make you just shut off the TV and not read the paper, or just stick to Canadian news. But as we all know, the US economy affects every other country's economy so it's basically all we hear about here too.

It's not as bad as alot of people think it is and people just have to adapt to changes alot faster than they used to. Not every job is going to be there forever and nothing stays the same.

**chris w** · 07-31-2008, 03:57 PM

Originally Posted by MomToTwoBoys

People here in Canada are getting a bit tired of how much the US media is blowing things out of proportion at times. It's enough to make you just shut off the TV and not read the paper, or just stick to Canadian news. But as we all know, the US economy affects every other country's economy so it's basically all we hear about here too.

It's not as bad as alot of people think it is and people just have to adapt to changes alot faster than they used to. Not every job is going to be there forever and nothing stays the same.

I don't watch the news or read the papers. I do miss some local things but otherwise why bother?

**Jamauk** · 07-31-2008, 04:03 PM

Dave Ramsey ran a couple of segments about this just yesterday. He had people email him good news about the economy. There were sssooo many people that were finding new, higher paying jobs. Selling their houses in a matter of days. Small businesses making record profits.

As for the media blowing things out of proportion ~ can anyone say "Obama"?

**Palooka** · 08-01-2008, 01:43 AM

Originally Posted by DJ1972

I know the economy has seen better days but, as I was sitting at Busch Stadium a couple of weeks ago with 45,000 other fans that paid at least $20 per seat and were drinking $5 sodas, $8 beers and eating $6 hot dogs while watching players that make millions a year, it occurred to me that it must not be as bad as the media wants you to think. JMHO

Really and how do you know that...because they could have payed cash for all of that entertainment and used the credit cards for their bills.

**Palooka** · 08-01-2008, 01:49 AM

As for the media blowing things out of proportion ~ can anyone say "Obama"?

OBAMA

Funny because I watched Larry King last night and it showed something different..

**ConnieD** · 08-01-2008, 09:21 AM

Well, I guess it all depends on which area of the country you're from.
I'm in Canada as well (southern ON) and things are REALLY bad here in our area. We depend on the Big 3 car companies and you all know how well they're doing. People are being permanently laid off. Other manufacturing sectors that supply these companies are laying off or closing altogether. Tool & die companies are shutting down left and right. People are leaving the area to head out west to get work.

TONS of houses are for sale and have been for ages. Very few houses are being sold and if they are, they are getting substantially less money for them. People are losing their houses. Just on my street alone, in the last 6 months 2 houses have been repossessed. Sad.........

While I agree that the news media focuses on bad news to sell papers, everything is NOT okay everywhere. Yes, it is depressing to constantly read this type of news, but I find (for myself) it helps keep me focused on WHY I want to be totally debt free.

Just my 2¢