Economists Tell Bush US Poised For Strong Growth

[Nambe]

WASHINGTON -(Dow Jones)

A group of economists who met with President George W. Bush Wednesday told the president that the U.S. is poised for a period of strong growth and they credited in part the president's tax policies even though they have generated deficit spending.

"The deficits are having a positive impact" on the economy and the tax cuts are a "key driver" of the recovery, said Martin Feldstein, a professor at Harvard University.

"There was unanimous agreement that the aggressive stimulus policies the president is pursuing is exactly what we need," said Burton Malkiel, a professor at Princeton University.

"If there is any time to have deficits, it is during a recession," he added. " This is the right medicine for the economy."

John Lipsky, the chief economist at JP Morgan Chase, said he expects to see the U.S. economy expand by 4% over the next 12 months. ---

Ride Don’t Drive It’s Global Cool

[htuttle]

1. Several of them were from the firm....

Yessmenn Arrus, a full-service consultancy.

[hang a left]

2. Bush forgot to tell everyone

that he was asleep when they were talking to him

[study_war_no_more]

3. yes I noticed the same thing

From reading the chicken bones and coffee grounds this morning. What a fucking bunch of losers, geee mr prez them there soup lines just goes to show what good shape we are in. Unemployment always indicates job growth yessirree gosh darn it.

[underpants]

6. Chicken bones and coffee grounds?

That's no way to predict what the market will do.....I just do what the trees tell me....of course I lost a fortune on Iraqi rose futures (I listened to W on that one)

LOL you post killed me.

[diplomats]

7. Is this some kind of joke?

"The deficits are having a positive impact on the economy"? Talk about spin. Not only does Bush cherry-pick intelligence to suit his purposes, he cherry-picks supply-side economists to endorse his reckless economic policies.

[Maeve]

11. Exactly! He hears what he wants to hear ONLY

All opposing ideas are kept in Free Speech Zones outside his line-of-sight.

[pw]

4. Disgusting

Some of these guys used to have reputations as more or less honest, intelligent people.

Of course the White House's own people have cut back their growth estimates to just over 2%, so go figure...

[papau]

16. OMB 2nd year growth (beginning 1/01/04) is 3.7%

but that may be just a "wish"

[Sagan]

5. If there is any time to have deficits, it is during a recession,"

Are we in a recession? Is that the White House's position?

[KayLaw]

17. Haha

Good point!

[TahitiNut]

34. So, they see a 5-year recession?

Figures. :eyes:

[Mithras61]

8. How many of these economists

were part of the group of "economic experts" that met with * in Crawford a couple of years back? If it's the same group, then I expect the same result... more unemployment, more "recession" (or is that depression?) and more shrinkage in the economy.

Ah, yes, the incredible invisible turnaround...

[hadrons]

9. That group of economists also reported that the Kool-Aid tasted great ....

[sendero]

10. I hope...

... these guys are right but I have my doubts.

Had they raised the deficit by putting money in the pockets of consumers, or creating public works jobs - I could agree.

Since they did it by giving money to people who don't need it, I'm doubtful.

But hey, I'm no economist :)

[study_war_no_more]

12. the real war

is on the people. Good bye blue skies.

[fshrink]

13. Note again, please

the justaposition of "Bush" with "poised". That's, as usual, the core of the message. The economy has strictly nothing to do with it. The whole establishment holds by the paint and this paint is the illusion that the country is led by a capable and "poised" individual.

[meegbear]

14. They also said they weren't wearing any underware ...

and had to get home for "Judge Wapnar".

[LuminousX]

15. Did they come to that conclusions by themselves?

Or did they read a report that the Bush admninistration planted, based their conclusions on that falsified report, and then told Bush, based on that report, the economy is going to turn around? Now Bush says, the economy is going to turn around based on these economists and when it doesn't... it will be their fault.

[underpants]

18. Again this is technicaly correct-Nowhere to go but UP

The bottom you see means that you are "poised for growth".

[Chicagonian]

20. wanna bet?

the bottom? we're nowhere near "the bottom"

watch a documentary about Bombay...or even Mexico City- when New York, Houston and Chicago more closely resemble those places, then you'll know that we're getting closer to "the bottom"...

There's still plenty of freefall left in the economy of The Junta.

[mac56]

19. Prosperity is just around the corner.

nm

[TEXASYANKEE]

21. Interesting phenomena

What's interesting is what the author is not telling the reader -- basically that these same economists have been consistently forecasting growth in the 2-4% range for the past 2 years. And they've consistently been WRONG. It's just more "pie in the sky" reporting from our lazy and inept media.

[CBHagman]

23. Bingo!

That's what a member of the Senate Banking Committee pointed out to Alan Greenspan today: that they keep having to readjust their forecasts...because their forecasts are OFF.

[I AM SPARTACUS]

22. "Economists Tell Bush Exactly What He Paid Them To Tell Him"

...anyone surprised???

[ozone_man]

24. Baloney. Over the past 3 years, how many economists have

said that there was going to be a recovery the 2nd half of the year or the recovery is just around the corner. Conditions are not right for a recovery anytime soon. Deficits do not have a good impact on the economy. These guys are professional liars. One of these days (years) JPM will experience a massive derivatives implosion.

[samsingh]

25. sounds phoney

.

[dawg]

31. You sound like someone ...

who actually knows something about investments!

[stevebreeze]

26. excuse me?

How does a tax cut that costs $500,000 per job raise the economy? Would not the $500,000 be better used hiring say 10 teachers?

The stock market is recovering due to Bush's tax cut. We are in effect reinstalling the bubble. The money to do this comes directly out of the bond market. Less money in the bond market means higher interest rates on long term loans, like mortgages. This is one of the reasons that mortgage rate have climbed the last three weeks straight. Much more of that and the housing sector will crumble. Housing has been one of the few things keeping the wheels from totally falling off of the cart.

Maybe if we hired those teachers we could teach a few more people common sense and we would never elect morons like these again.

:kick:

[akitamata]

32. "...we would never elect..."

actually, based on the Bev Harris electronic voting analysis/hypothesis, "we" didn't elect this bunch of lying and mismanaging nationrapists. Bring the troops home America, don't believe the Liars in Chief...it's ALL ABOUT OIL!

[trapper914]

27. When CBS radio reported this...

...they referred to the economists as "hand-picked."

Why am I not surprised?

[dusty64]

28. I guess this could be seen

as good news. Once again a handpicked group telling the regime what they want to hear instead of the TRUTH. These guys don't get it and are clueless, they are going down in 2004 (provided the electronic voting machines are dealt with).

[ward919]

29. "poised for a period of strong growth" = we are in the bowels of a recessi

recession and can't get much lower.

[RapidCreek]

30. Yep US poised for strong growth

Websters Definition

Main Entry: 2poise
Function: verb
Inflected Form(s): poised; pois·ing
Etymology: Middle English, to weigh, ponder, from Middle French pois-, stem of peser, from Latin pensare -- more at PENSIVE
Date: 1598
transitive senses
1 a : BALANCE; especially : to hold or carry in equilibrium <carried a water jar poised on her head> b : to hold supported or suspended without motion in a steady position <poised her fork and gave her guest a knowing look -- Louis Bromfield>
2 : to hold or carry (the head) in a particular way
3 : to put into readiness : BRACE
intransitive senses
1 : to become drawn up into readiness
2 : HOVER

So what they are saying is what? Sounds like pretty much nothing at all, to me.

RC

[ewagner]

33. just one question

Mr. pResident, all this may be fine and good but:


WHERE ARE THE JOBS???????????????

[Maeve]

35. Yup! Turning a corner!