Fed Says U.S. Growth Widespread

[ZR2]

http://story.news.yahoo.com/news?tmpl=story&cid=580&e=1&u=/nm/20040421/bs_nm/economy_fed_beigebook_dc


WASHINGTON (Reuters) - The Federal Reserve (news - web sites) on Wednesday gave the U.S. economy an upbeat assessment, saying economic growth and hiring had picked up in recent weeks.


"Economic activity increased across the nation from mid-February through early April. The growth was widespread as retail sales moved up noticeably, and manufacturing, mining, energy, tourism, and services all grew," the Fed said in its "beige book" report, an anecdotal summary of conditions in the central bank's 12 regional districts.


"Labor markets tightened somewhat with modest wage increases," the Fed said. However, it also noted "significant increases" in worker health benefit costs.

.....................


What a bunch of Bull Sh1t LIES.

[teeELkaye]

1. Fed fed

That the same bunch that said we had to get rid of the surplus!

[newyawker99]

17. Hi teeELkaye!!

Welcome to DU!! :toast:

[mhr]

2. Unemployed 4 Years - No Headhunters Or Companies Calling Here

I don't believe it for a second.

[tom_paine]

3. Yes, I trust them as much as I trusted Soviet Central Bank reports

They are now one and the same, from a Bootlicking of Tyrants perspective.

How can I believe a word they say?

I can't.

I believe Greespan as much as I believe Geratachencko, who was head of the Soviet Central bank in 1978.

[bif]

4. Wahoo! The recession's over!

I'm going to go out and start really spending the $!

[callous taoboy]

8. Myself-

Bought some shoe laces the other day with my tax refund.

[KissMyAsscroft]

5. That's so strange....they are usually giving a very downbeat assesement!

LOL! Every assesment they give is rosy. Baghdad Alan Greenspan.

[Tempest]

6. These are the same bozos...

Who increased interest rates just before the 2000 election because they said the economy was overheating.

Problem was, the economy was starting to cool off when they increased interest rates and the result was the increases caused the recession.

Greenspan needs to be tarred, feathered and run out of town on a rail.

[Dover]

7. And WHO is the "Fed"?.............................uh huh, you guessed it.

Right now there is an investigation into similar claims by the Treasury. Don't believe a word of it.

[Just Me]

12. I want what they say to be true,...it's just their "masters",...

,...have every reason to lie, lie, lie and deceive, deceive, deceive. Once those "masters" are tamed and held to a standard of integrity, transparence and accountability that all those below them must obey,...then, my trust will have been earned.

[Frodo]

23. And the conspiracy spreads! Now they've got the IMF in on the game.

http://ap.tbo.com/ap/breaking/MGAFRRBKBTD.html

"For the United States, the IMF predicted growth this year of 4.6 percent, which if it comes true, would be the fastest growth rate since the U.S. economy expanded by 7.2 percent in 1984. That represented a 0.7 percentage point increase in the IMF's September forecast."

[progressivebydesign]

9. Hiring always improves in spring.. NO sign of economic upswing!

Construction jobs, road jobs, outdoor work in areas hit by wet/snowy winters. Resorts and tourist towns, hiring for low wage service jobs. It's all bullshit.. It's election year lies, and the media is too stupid to report it correctly. Did anyone mention that jobless claims ROSE last weeK?? Hmmm?? Or perhaps has anyone been taking an unofficial tally of mass layoffs so far in 2003 (since they closed the offfice that racked mass layoffs?). I didn't think so.

[0rganism]

10. Our growth so Widespread, it's happening in China instead of Ohio!

Now that's what I call spreading the wealth around!

[AlCzervik]

11. I've no doubt

that the corporate coffers are filling up, but i wish what Greespan would tell the public is, corporate America is investing their profits in the bank, they are not creating jobs and if interest rates go up, housing prices will stall, if interest rates spike, people will be upside down on their mortgages.

[Just Me]

13. Yeah, when will we finally be pissed about such WINDFALLS?

The oil companies are gouging the hell out of the American people, especially out west,...and, where is the outrage? They are bilking OUR people,...OUR people,...where the freak is their patriotism? Greedy craps!!!

[rkc3]

15. Gas prices

I won't disagree with you that the war is about controlling oil interests.

The price of gas, however, is tied to the strength of the dollar. With declines in the dollar, the price of oil goes up since it's sold in US$ - the dollar just doesn't go as far as it used to.

A strong dollar increases the cost of domestics goods sold overseas - making it tougher for US exports. A weak dollar is supposed to be good for US manufacturers, but when they aren't creating any new jobs from an export windfall a weak dollar is just a weak dollar.

[progressivebydesign]

19. No.. the price has been inflated by the Saudis..

..for no apparent reason. it's all political.

[Just Me]

21. You doubt that corporations are gouging our people,...

,...especially oil corporations, and that is fine with me.

We can agree to disagree.

Personally, I believe that "theory" of a free market consistent with dinosaur theories of economics,...no longer exists. Why? Because, the big corporations are in charge. The "capitalism" model has been broken by a fundamental tenet the ambitious American dreamers never wanted to hear: too much power in the hands of the few endangers humanity (including its so-called theorists of economics).

So sad, too bad,...life ain't fair or equal 'cause we don't INVEST in fairness or equality for anyone other than ourselves.

On edit, welcome *smile*

:hi: :bounce:

[rkc3]

14. Where are the jobs?

http://www.comstockfunds.com/screenprint.cfm?newsletterid=1086

This link has been posted before. So I'll apologize, but it's worth reading. You can't have sustained growth without the consumer's involvement. With jobs going overseas and no uptick in corporate spending - we're going to need another "incentive" from Bush to keep the economy moving along.

It'a amazing how so many people are upbeat about the economy when there is so little good news about job creation in the country.

[nagbacalan]

16. Iraq is far from the only arena of deception.

Just how much is the Fed pouring into the futures market to sustain Wall Street for strictly political purposes? What was the breakdown of the March job numbers in terms of decent wages and benefits? Furthermore, is Arthur Anderson going to audit the April PPI data? Rampant Gilded Age corruption prevails, and the media is silent.

[newyawker99]

18. Hi nagbacalan!!

Welcome to DU!1 :toast:

[progressivebydesign]

20. Consumer Confidence.. bingo.

The consumer confidence index plummeted when Bush "took" office. It has never recovered.. except for a slight gain for one month. No one feels good about spending money now, and no one has the money to spend. People are buying and leasing cars, but now the terms on a car that barely lasts 4 years, is a 6 or 7 year lease, WITH outstanding balances at the end of the lease. It's all smoke and mirrors... all for re-election purposes.

[The_Casual_Observer]

22. This kind of BS headline is to be expected

As long as we are "at war". I suspect that they justify idiotic propaganda such as this as basic wartime disinformation. Perhaps that is why chimp was in such a big hurry to start a war someplace.

[agincourt]

24. What is it?

we're going on 2.5 years of upbeat economic assessments so far? Or has it been 3? Would they ever say the economy sucks when bush is in power?

[54anickel]

25. The will claim the recovery was due to the tax cuts and they must be

made permanent. We will hear that over, and over, and over again.

[mmonk]

26. Something needs to be growing

with all this manure being spread around.