Friday, October 30, 2009

Well since I am in Macroeconomics...

Well since I am in Macroeconomics I figured I can help myself get more familiar with with the subject while blogging and studying so over the next few weeks alot of my blogs will most likely be containing stories and idea on the economy, more specific the recession and the stock market since that is what I will be writing my 15 page, yes that right I said 15 page paper I have to write on a current crisis in the economy. So even if its not of your interest I think you should at least skim what I post. Its all good information, and its good to stay informed about how and where your taxes are being spent. At least thats how I feel. After class last night, my interst was sparked and it may not be the easiest thing to grasp or follow, I think its at leats worth a little bit of your time. Happy reading :)

My first post will be on how yesterday the goverment reported that the GDP (Gross Domestic Product) grew 3.5% in the third quarter. While some economists have doubts of how long this strong growth can last.

The below story is taken from

NEW YORK ( -- The U.S. economy grew at a 3.5% annual rate in the third quarter, ending a string of declines over four quarters that resulted in the most severe slide since the Great Depression. But some economists raised doubts about how long such strong growth can last.
The increase in GDP, reported by the government Thursday morning, was slightly better than expectations. Economists surveyed by had forecast 3.2% growth in gross domestic product, the broadest measure of the nation's economic activity. The economy shrank at a 0.7% rate in the second quarter.
The positive GDP report is one more sign that the economy has likely pulled out of the deep recession that started in December 2007.
The reading by itself doesn't mark an end to the recession; the economy actually grew in the second quarter of 2008. (The National Bureau of Economic Research, which officially dates the beginning and end of recessions, is not expected to declare that the current recession has ended until sometime in 2010.)

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