Friday, November 2, 2007

The economy IS doing fine

So here are the facts:
3Q GDP = 3.9%
2Q = 3.8%

Jobs report:
October: 166,000 gain
September: 96,000 gain
August: 93,000 gain

Other signs:
Booming tech sector with better than expected earnings for most companies.
Stable inflation (despite what I think were two unnecessary interest rate cuts by the Fed)

There are a lot more positive data as well. You tell me, are we in a recession? Are we headed that way? NO!

Even with the mortgage and credit "crises" the economy is dynamic. Let's be honest, a little correction was needed in those markets anyway, but that hasn't significantly slowed the US or global economies.

Now, if only I could find a job before I graduate.... :)

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