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Originally Posted by kane
Go here for some info on consumer spending. The basics is that in Nov of 2010 the average consumer spending was $95 per day. That is up from $83 per day in the same month one year ago and better than the $90 per day in 2008.
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Cash for (insert here). That's not a positive indicator. It's artificial growth.
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For the GDP, aren't you one of the people who claim the stimulus didn't work? If so how can it then also be the only reason that the GDP has risen. I'm not an economist so I won't begin to say that I know every reason why the GDP has increased. Here is what I know. The GDP has grown. I'm sure the stimulus had something to do with it, but I'm also pretty sure there are other reasons.
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If you look at the amount of cash that was thrown back into the economy and the amount of "positive" it did, then yes it didn't work. And artificial growth isn't a good sign for our economy. Who cares if the GDP grew if that growth comes from stimulus spending?
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And it also includes economic researchers who do nothing but make predictions and study the economy, but make no policy. This includes ECRI who do nothing but study recessions and depressions and according to them they say there is next to no chance of a double dip recession.
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Wonderful, and I can find you more intelligent economists who call bullshit with actual facts and logic. There's no argument to be made for a "recovery".