4.9% GDP.. Recession immanent..

[Chapdog]

NOT.

while this is not golden age like the late 90's economy keeps trucking along.




Q3 GDP Growth Unrevised At 4.9%, In Line With Estimates

(RTTNews) - The Commerce Department released its final report on gross domestic product in the third quarter on Thursday, showing that the pace of GDP growth for the quarter was unrevised compared to the preliminary estimate.

The report showed that GDP increased at an annual rate of 4.9 percent in the third quarter compared to the 3.8 percent growth seen in the second quarter. Economists had expected GDP growth to remain unchanged at 4.9 percent.

The GDP growth in the third quarter marked the fastest pace of growth since the third quarter of 2003, when GDP surged up 7.5 percent.

The acceleration in the pace of GDP growth compared to the previous quarter primarily reflected accelerations in exports, consumer spending, and private inventory investment.

At the same time, an upturn in imports, a larger decrease in residential fixed investment, and a deceleration in nonresidential structures partly offset the acceleration.

The report showed that the pace of consumer spending growth was revised up modestly to 2.8 percent from the preliminary reading of 2.7 percent growth. This represents a significant acceleration from 1.4 percent in the second quarter.

The Commerce Department also said that its reading on core consumer prices, which exclude food and energy prices, was upwardly revised to show 2.0 percent growth compared to the previously reported 1.8 percent growth.

Including food and energy prices, consumer prices rose 1.8 percent in the third quarter, which represent an upward revision from the preliminary estimate of 1.7 percent growth.

While the upward revision to the pace of consumer price growth may add to recent inflation worries, the report is largely seen as old news.

For comments and feedback: contact editorial@rttnews.com

 

[uscitizen]

Tiptoe Thru the Tulips....

 

[Topspin]

La times predicted no 2008 recession

USC thinks its going to be a depression.
Supertool says 70% recession. LOL
Wonder what kinds of shit he spins to the little old ladies when he's selling them stock. He prob has trouble sleeping at night.

 

[Socrtease]

Former Fedchair Greenspan was on one of the sunday morning shows and said that he did not think putting the chance for a recession at 50% was wrong.

 

[Chapdog]

50% is plausible but id say only a 25% chance that we get a 50% chance.

 

[Topspin]

And that 80yr old fossil can't keep his pie hole shut.
He may be right, but I get the impression he's hoping Bernanki screws up to make himself look a little better.

 

[Chapdog]

50% seems high considering that there is forcasted positive GDP every quarter of 2008 at this point. id say 50% is legit if we actually had a negative Quarter.

maybe im missing something here.

 

[Socrtease]

And that 80yr old fossil can't keep his pie hole shut.
He may be right, but I get the impression he's hoping Bernanki screws up to make himself look a little better.

Now THAT is an interesting idea that you posit. Hmmmmmm.

 

[Cancel 2016.2]

50% seems high considering that there is forcasted positive GDP every quarter of 2008 at this point. id say 50% is legit if we actually had a negative Quarter.

maybe im missing something here.

$500 billion in subprime ARMs resetting next year. The first big chunk in Jan/Feb and the second big chunk in May.

 

[Chapdog]

$500 billion in subprime ARMs resetting next year. The first big chunk in Jan/Feb and the second big chunk in May.

what percent of that will not be able to refinance and wind up as a foreclosure write down 20%? out of that 100B how much will be recovered by the bank. 50%? I dont think anyway what this will knock us to negative gdp.

 

[Topspin]

They won't reset to much higher as rates are down big time.

 

[Cancel 2016.2]

They won't reset to much higher as rates are down big time.

Right... you really have no idea what is going on in the mortgage industry do you?

 

[Chapdog]

besides government stepping in to give these boneheads who purchased more then the can afford reprieve by locking in the intro rates longer. where the fuck is my government extended fractional interest rate..

So now me the smart guy who buys a house he can afford gets a 20year fixed loan for 5% when i could have gotten a 5year intro rate of like 3.25% turns in to the sucker bonehead that has to actually pay what I agreed 2.

 

[Cancel 2016.2]

besides government stepping in to give these boneheads who purchased more then the can afford reprieve by locking in the intro rates longer. where the fuck is my government extended fractional interest rate..

So now me the smart guy who buys a house he can afford gets a 20year fixed loan for 5% when i could have gotten a 5year intro rate of like 3.25% turns in to the sucker bonehead that has to actually pay what I agreed 2.

The government SUGGESTED the mortgage lenders lock in rates, they cannot force them to do so. That would be illegal.

 

[Topspin]

supertool enlighten me, are you saying mortage rates are not influenced by the fed rate cuts. LOL
Also, what kind of sales pitch do you use when you yourself believe 70% chance of recession.

 

[TRGLDTE]

besides government stepping in to give these boneheads who purchased more then the can afford reprieve by locking in the intro rates longer. where the fuck is my government extended fractional interest rate..

So now me the smart guy who buys a house he can afford gets a 20year fixed loan for 5% when i could have gotten a 5year intro rate of like 3.25% turns in to the sucker bonehead that has to actually pay what I agreed 2.

BINGO!

It's all rather Atlas Shrugged-like isn't it?

 

[Cancel 2016.2]

supertool enlighten me, are you saying mortage rates are not influenced by the fed rate cuts. LOL
Also, what kind of sales pitch do you use when you yourself believe 70% chance of recession.

Yes, toppy, the mortgage rates are influence by the fed. But guess what? There are other factors that influence mortgage rates as well. Seriously, at least TRY to learn about the topic before you spout off your pathetic little digs. You are simply making yourself out to be the fool.....yet again.

 

[Chapdog]

The government SUGGESTED the mortgage lenders lock in rates, they cannot force them to do so. That would be illegal.

Some day, and that day may never come, I will call upon you to do a service for me. Until that day accept this justice as a gift on my daughter's wedding day.

 

[Topspin]

superthief, seriously I just owned your ass
Mortgage rates have come way down and they will come down more.
All you chicken little bitches are worrysome.
Also, don't be afraid to shed light on how you scheme money out of people with your 70% chance of recession.

 

[Cancel 2016.2]

superthief, seriously I just owned your ass
Mortgage rates have come way down and they will come down more.
All you chicken little bitches are worrysome.
Also, don't be afraid to shed light on how you scheme money out of people with your 70% chance of recession.

No toppy, that is your problem. You spout off something you BELIEVE to be true and think that means you owned someone else. AS I said, mortgage rates have come down... especially on the 30 yr and 15 yr fixed. But take a look at the ARMs toppy.... then tell me why the national average for the 5 year ARM is HIGHER than the average for the 15 yr fixed and almost equal to the 30 year fixed. Hell, even the 1 and 3 year ARMs are higher than the 15 year fixed on average.

The reason toppy is that while new ARMs are low, the ARMs that are resetting on people that originally took out loans 2-3 years ago are not low. Because the rates are not determined solely by the Fed toppy. Mortgage rates also are effected by the value of the home vs the value of the mortgage.... and of course by the payment history and credit score of the borrowers.

But please, continue once again with your childish antics.... for we all can see that your claim to be giving them up is nothing more than additional BS from the almighty MBA guru teacher toppy.