Where’s That Recession Thingy?

J.J. Jackson* | September 1, 2008

Filed Under Economy / Economics, The Economy

The economy grew at a rate of 3.3% in the second quarter “surprising” a lot of the “experts” who keep claiming we are in a recession knowing that in doing so they will get 30 seconds of fame in some newspaper or on television, but not me. So that recession thingy that we are told about America being involved in is still on hold apparently.

WASHINGTON (AP) — The economy pulled out of a dangerous rough patch in the spring, thanks largely to strong exports, but the rebound isn’t expected to last. Economic slowdowns overseas could make exports tail off just as Americans are hunkering down after the bracing impact of rebate checks wanes, plunging the country into another rut later this year.

“There will be heavy sledding for the U.S. economy during the next couple of quarters,” predicted Lynn Reaser, chief economist at Bank of America’s Investment Strategies Group.

Gross domestic product, or GDP, grew at a 3.3 percent annual rate in the April-June quarter, its fastest pace in nearly a year, the Commerce Department reported Thursday. The revised reading was much better than the government’s initial estimate of a 1.9 percent pace and exceeded economists’ expectations for a 2.7 percent growth rate.

Despite this good news, the fear mongers are still out in force telling us that it is just a blip. The sub-title of his article proves that. “Spring’s economic strength unlikely to last given slowdowns overseas, struggling consumers,” it reads.

I’ll tell you what would be a huge kick in the teeth to the economy – an Obama presidency. You want to see this economy sink like a stone? You want to see not just a recession but a depression? Elect a Marxist and let him impliment his assinine policies!

Obama keeps talking about needing “change”, but change from what? Change from an economy that has been strong over the past six years? Change from low unemployment rates? Change from an economy that was able to stave off a recession while the whole rest of the world is struggling? Change from rising wages?

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