Wednesday, December 24, 2014

U.S. Economy and Wall Street: On a Sky High Trajectory and 2015 May Be Better

Americans Shopping and Spending and Apparently Happy (Again)

Businesses are Booming

Now might be a good time to sing along:

Happy days are here again
The skies above are clear again
So let's sing a song of cheer again
Happy days are here again

Maybe not to that extent since I'm a lousy singer, but the points below are valid since the economy under Mr. Obama is at all time highs. However, you'd never know it if you listened to the GOP. In a word, their silence is deafening. So, what is all the good news?

First of all, refer to the next post below, here in part: For those hoping to see the American economy succeed, there are a lot of reasons to smile today:

1.  Economic growth is at an 11-year high.
2.  Job growth at a 15-year high.
3.  The stock market is soaring - setting new DOW and S&P highs.
4.  Wages are rising.
5.  Gas prices are plummeting.
6.  American manufacturing is improving.
7.  Those uninsured rate (previously without health care) is dropping.

President Obama boasts about “America’s resurgence.” And more analysis from the NY Times here, from the Washington Post here, and from Bloomberg here:

The American economy grew last quarter at its fastest rate in over a decade, providing the strongest evidence to date that the recovery is finally gaining sustained power more than five years after it began.

Bolstered by robust spending among consumers and businesses alike, economic output rose at an annual rate of 5 percent during the summer months, the Commerce Department said Tuesday, a sharp revision from its earlier estimate of 3.9 percent. The advance followed a second quarter where growth reached a rate of 4.6 percent after a decline last winter that was exacerbated by particularly harsh weather.

The revision was led by an upswing in investment by businesses, a powerful force for growth in most economic recoveries but one that has lagged in the latest rebound. Higher consumer spending, including increased outlays on health care, and a narrower trade balance also contributed to the summer improvement. The gain makes the third quarter the strongest since the summer of 2003.

The stronger data was greeted happily on Wall Street, with the Dow Jones industrial average closing above the 18,000 level for the first time. The broader Standard & Poor’s 500-stock index also hit a record high, while the Nasdaq dropped slightly.

Bottom line as they say: The positive signs are everywhere, but as I said, you never know it listening to the GOP ... why is that? Pretty simple: GOP keeps painting Mr. Obama into corner and then blaming him for the paint (and egg) on their hands and faces.

Better yet, just call them hypocrites.

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