July 6, 2004
STRIKE THAT--MAKE IT CAN EDWARDS GET HIM TO 42% (via John Resnick):
Economy Set for Best Growth in 20 Years (MARTIN CRUTSINGER, 7/06/04, AP)
The economy appears headed for a banner year despite a springtime spike in energy prices and a recent increase in interest rates.In fact, many analysts are forecasting that the overall economy, as measured by the gross domestic product, will grow by 4.6 percent or better this year, the fastest in two decades.
There were strong 4.5 percent growth rates in 1997 and 1999, when Bill Clinton was president and the country was in the midst of a record 10-year expansion.
But if this year's growth ends up a bit faster than that, it will be the best since the economy roared ahead at a 7.2 percent rate in 1984, a year when another Republican president - Ronald Reagan - was running for re-election.
Making John Kerry a variation of Walter Mondale, but with a viable candidate to his Left. Posted by Orrin Judd at July 6, 2004 7:26 PM
The economy seems to have softened in June with employment growth, manufacturing, and non-manufacturing growth coming in lower than expected. Q1 GDP was also revised down. Hopefully this was a 1 month event and this article, calling for faster growth (which should result in more job growth and stock market increases) is right.
Posted by: AWW at July 6, 2004 9:40 PMAWW:
It was just the spike in fuel costs and the Fed threatening. Now prices are falling and the Fed is quaking in its boots.
Posted by: oj at July 6, 2004 11:17 PMAnd the DJIA marks time. Lucky for me, I don't believe the DJIA means much of anything, so I don't have to shoehorn it into a concept of booming national economy.
Still, it's curious.
Posted by: Harry Eagar at July 7, 2004 3:21 AMHow has Greenspan kept his job all these years. As far as I can tell, his mistaken fear of inflation has coused him to help ruin one economy (in 1999) and now make the same blunder again. The guy thinks he's Chief of Central Planning for the World Economy. Actually, his responsibility is very narrowly defined.
Posted by: gg at July 7, 2004 9:31 AMViable candidate to his left? Nadar? Or his wife?
Two filthy rich guys, neither of whom can be said to have earned his money, one of them a ambulance chaser, running for "the little people," and pretending there isn't a war on, doing everything possible not to dscuss World War III as they run for the presidency. It's like a dream come true for the GOP. High comedy. Forty years of Anti-Americanism = the Left truly has gone insane!
Posted by: gg at July 7, 2004 9:36 AMHarry, as we are often told, the equity markets are leading indicators. This year's economic growth was predicted by last year's stock market gains. This year's flat market suggests that the economy is in for a slowdown.
Posted by: Robert Duquette at July 7, 2004 5:14 PMThey lead with their chins.
Posted by: Harry Eagar at July 7, 2004 10:28 PM