Economists forecast U.S. growth on upswing in 2011

[babylonsister]

Economists forecast U.S. growth on upswing in 2011


By Paul Davidson and Barbara Hansen, USA TODAY


Economists are more optimistic about the recovery than they were just a few months ago, significantly upgrading their forecasts for 2011 as consumers open their wallets.

When asked to predict, nine of 10 economists said they're more optimistic than three months ago, according to a USA TODAY survey of 46 economists conducted Jan. 13-19.

They expect the economy to grow at an annual rate of 3.2% to 3.4% each quarter this year. That's up from quarterly median forecasts of 2.5% to 3.3% in an October survey.

"This growth is now becoming self-reinforcing," says Mark Zandi, chief economist of Moody's Analytics. "Businesses are going to take their stronger sales and begin to hire more aggressively, generate more income, and we're off and running."

more...

http://www.usatoday.com/money/economy/2011-01-24-1Aecon24_ST_N.htm?loc=interstitialskip

[vaberella]

1. And in a few weeks they'll change their tune.

Most people seem to live on the word of one economist or another or just a few at time. People need to see that these economists are playing guessing games. They're all Freud making a hypothetical diagnosis that they can change upon a whim. It's either a warning bell, an optimistic statement but also coming along with an invisible disclaimer which states..."I have the discretion to make changes if I please." You'll have people on both sides vying for the message du jour.

~sigh~ admittedly I am cynical but I have an MA in economics...we did nothing but hypothesize about constants---while always being warned---constants don't exist except that we know humans are generally unpredictable. Which means what we talk about or hypothesize is just a game of craps.

[babylonsister]

2. I hope they don't change their tune; they just changed it to

a more optimistic outlook. May that trend continue.

[mikekohr]

3. Here Are The Graphs, This Is Far More Than A Trend, It's A Highway To Prosperity

JOB GROWTH

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Public/Private Job Creation Graph 1/2008 - 9/2010, nice work President Obama

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Real GDP Grows For 5th Straight Quarter


One should also note that in the very first quarter that President Obama was in office, the effects of the stimulus began to reverse the free fall he inherited from George W. Bush. In the ending of George W. Bush's Great Recession, we see the same pattern repeated: Republicans cause recessions, Democrats clean them up (see History of Recessions).

It took 6 months for President Obama's economic and tax policies to return GDP to positive territory. If we as a nation want to avoid the painful recovery from the climb out of economic holes we have to quit electing those digging them.

Strongest Job Recovery In Decades is Underway


9 of the last 10 recessions occurred under Republican economic policy, including todays George W. Bush’s “Great Recession,” the deepest economic downturn since Hoover’s “Great Depression” of 1929. President Obama has not only halted the staggering job loss of over 780,000 per month he inherited from George W. Bush but President Obama’s “Bubble Up Economic” policies has reached positive increase in monthly job creation with unmatched speed.


http://4.bp.blogspot.com/_mHSyEv8vBt4/TIKJmVIq8xI/AAAAAAAAAFI/AInWHvWVIxA/s400/New+Picture.jpg
Source: Chris Isidore from CNNMoney.com


The economic pain being felt today is a result of the depth of the hole that was dug by the Republican “Trickle Down” policies of the Republican Party. The nation suffered a loss of 8.4 million, or 7% of all jobs, in George W. Bush’s “Great Recession.” This compares with a loss of 3.1% of all jobs lost during George W. Bush’s first recession of March–November of 2001, and 1.9% of all jobs lost during George H.W. Bush’s recession of July 1990-March of 1991. -The deeper the hole, the longer the climb out of it- If Americans wish to avoid the pain of recovery from recession, we need to quit electing the people digging the holes.


Stock Market Bush versus Obama:
http://4.bp.blogspot.com/_Zh1bveXc8rA/S8cW4-njIRI/AAAAAAAABGo/A0Z7DWoJQfk/s320/Clipboard01.bmp?

Stock Market Under Bush:
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Stock Market Under Clinton:
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Cached at http://bureaucountydems.blogspot.com

[babylonsister]

4. Thank you for providing those beautiful graphs and info!

:toast:

[Clio the Leo]

5. kick! nt