Another bad day for the gloom and doom parade. According to Bloomberg:
"U.S. economic growth rose at a 4.3 percent annual rate from July through September, the quickest since the first quarter of last year and evidence of the economy's resilience in the face of record energy costs. "
The revised figure for gross domestic product, the value of all goods and services produced in the U.S., was higher than forecast and compares with a 3.8 percent pace initially estimated, the Commerce Department's figures showed today. Growth was 3.3 percent in the prior three months. " (http://www.bloomberg.com/apps/news?pid=71000001&refer=home&sid=aCYMfpGDRK2A)
What's the historical comparison?
"Growth in the U.S. has exceeded a 3 percent rate for 10 straight quarters, the longest such string since the 13 quarters that ended in March 1986."
Why all the doom and gloom?
I guess that doom and gloom is what happens to people who can't win elections!
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