[QUOTE](Reuters) - U.S. economic growth is set to rebound strongly in the second quarter as the scars of a brutally cold winter fade, but inflation pressures will remain tame through 2015, according to the Organization for Economic Cooperation and Development.
In its latest economic outlook published on Tuesday, the OECD forecast U.S. gross domestic product expanding at a 3.9 percent annual pace this quarter, and it said it expects growth to maintain a brisk pace for the remainder of the year as well.
An unusually cold and snowy winter held down GDP growth to a 0.1 percent rate in the January-March period, the government said in an initial estimate last week, and that figure already looks overstated.
Data on construction spending and factory inventories for March that have come in since the GDP report was released have proven weaker than the government had assumed, suggesting the economy likely contracted.
"However, forward-looking indicators, such as investment intentions and business expectations, and rises in measures of consumer and business confidence suggest activity is bouncing back," the Paris-based OECD said.[/QUOTE]
[url]http://www.reuters.com/article/2014/05/06/us-usa-economy-growth-idUSBREA4508I20140506[/url]
I say it will, the unemployment rate has fallen to a 6.7% while it was 9% in 2011
Heard that before...
Real unemployment, which includes people who are underemployed or stopped looking, is around 12%. That number, U-6, actually fell slightly too so it might be part of a trend or it could just be a fluke like every other time. In reality the US economy hasn't improved for the vast majority of Americans, too bad they don't have a multi-billion dollar lobby.
Any time they tell me the economy is recovering, my financial situation and life doesn't get even slightly better so I could care less how much politicians trumpet themselves and pat themselves on the back for a slight 3% change in a billion statistic books that make up the economy.
I'm still broke here, find me this "rebound" I don't see it.
[QUOTE=Used Car Salesman;44736669]Heard that before...[/QUOTE]
You're right. Things will never get better, just like with every financial crisis the U.S. has ever had.
Nothing will ever improve and we're all going to die horribly. Except evil Obama and his Wall Street cronies.
[QUOTE=muffinmastah;44738053]I'm still broke here, find me this "rebound" I don't see it.[/QUOTE]
I remember before 2008 when every single American had over a million dollars in their bank account and there were no problems.
There was an article posted here a few weeks back that said the U.S. had a shrinking middle class.
I highly doubt the average american will find this rebound beneficial to them.
Even a bronze bull can die if he charges into a wall.
[QUOTE=typeperf;44738276]There was an article posted here a few weeks back that said the U.S. had a shrinking middle class.
I highly doubt the average american will find this rebound beneficial to them.[/QUOTE]
The average american will [I]not[/I] find this beneficial to them, and it isn't supposed to. The nation's economy is completely different to your personal finances/life quality.
[QUOTE=muffinmastah;44738053]I'm still broke here, find me this "rebound" I don't see it.[/QUOTE]
Welcome to Capitalism. Just because there is growth somewhere doesn't mean you're suddenly entitled to make more money. That's not how the world works...
[QUOTE=muffinmastah;44738053]I'm still broke here, find me this "rebound" I don't see it.[/QUOTE]
Ah, don't be an assshole.
Hate when people don't understand percentages.
[QUOTE]The average american will not find this beneficial to them, and it isn't supposed to. The nation's economy is completely different to your personal finances/life quality.
[/QUOTE]
In the long run, before we're all dead, yes, they MIGHT find it beneficial provided who gets in charge of the economy.
Whenever I heard that the Economy get's better or worse, my current financial status remains really unchanged.
Well good, I guess Capitalism was right after all. See you guys in the same thread 5 years from now I guess.
[QUOTE=Pvt. Martin;44739222]Whenever I heard that the Economy get's better or worse, my current financial status remains really unchanged.[/QUOTE]
Depends on how much the economy changes.
If you had been living here in Argentina during the 2001 crisis-2003 recovery, you would have noticed how your financials status improved.
of course, there's a difference between an annual 9% growth rate and a 2-3% growth rate. Plus if we're talking about large numbers.
[QUOTE=The freeman;44738362]The average american will [I]not[/I] find this beneficial to them, and it isn't supposed to. The nation's economy is completely different to your personal finances/life quality.[/QUOTE]
Theoretically, an improving economy means more work hours and more work opportunities for the average Joe.
Except the average Joe never sees such a thing. I'm still working the same shitty hours I had during the height of the 'crisis'.
Wouldn't it just mean more average joes working? It doesn't mean every average joe gets better off, at least not right away.
[QUOTE=deltasquid;44739666]Wouldn't it just mean more average joes working? It doesn't mean every average joe gets better off, at least not right away.[/QUOTE]
or period if the minimum wage isn't increased. cost of living is way higher than most wages of the jobs in the US.
[QUOTE=Emperor Scorpious II;44739626]Theoretically, an improving economy means more work hours and more work opportunities for the average Joe.
Except the average Joe never sees such a thing. I'm still working the same shitty hours I had during the height of the 'crisis'.[/QUOTE]
are you... looking into other solutions? finding a different job that has better hours?
[QUOTE=djshox;44740696]are you... looking into other solutions? finding a different job that has better hours?[/QUOTE]
HA!
[QUOTE=Pvt. Martin;44739222]Whenever I heard that the Economy get's better or worse, my current financial status remains really unchanged.[/QUOTE]
If the economy grows by 2% and there was a direct correlation of that to everyone's individual income (more than likely isn't), of course you wouldn't notice it. For me, that would be the difference of like $8 every week. That was how much my Subway breakfast cost today. However, when we're talking about trillions of dollars, 2% economic growth is massive.
Growth is a combination of many factors. Consumption is the main one, which can be increased without anyone actually earning a single cent more through an increased marginal propensity to consume (against saving), investment is another, where investments can create work that needs to be done, occupations that need to be filled. Government spending also contributes, but there's also net exports where more money flows in from offshore, if you export more than you import. Of course, to an average person, you won't feel the effects. But growth of the macroeconomy is still there.
So long as the US currency is throttled and swayed by a private organization notoriously known for dicking with its' loaners, it will never get better.
This is a bubble, just like the last few decades. Up and then down, up again- then down once more. Each time the cycle gets larger and heavier because the debt owed only grows.
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