Go Shopping!

I encourage you all to go shopping more.

Prior to yesterday’s presser, someone must have warned Chimpy about the poor state of the economy.

Economic growth slowed to a 2 percent pace in the late summer, more sluggish than previously thought, as the real-estate bust weighed on overall business activity.

The new reading on gross domestic product for the July-to-September quarter marked a slight downgrade from the 2.2 percent annual rate estimated a month ago, the Commerce Department reported Thursday.

The economy has been losing momentum all this year.

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Economists were expecting the government’s old GDP estimate of 2.2 percent growth for the third quarter to hold.

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In the first three months of this year, the economy grew at a hot 5.6 percent pace, the strongest spurt in 2 1/2 years. However, in the second quarter, growth slowed to a 2.6 percent pace as galloping energy prices and the impact of higher borrowing costs turned consumers and businesses cautious.

Many economists believe the economy stayed lethargic in the current October-to-December period. Forecasts range from a pace of around 1.7 percent to 2.5 percent.

4 thoughts on “Go Shopping!

  1. does donating to Digby rate as shopping? It’s the season of love. I give like it matters. I’m giving liberally. In Oh Eight I’ll be shopping for a progressive President.

  2. And here’s the punchline. If we DO go shopping, the President will complain that we’re not SAVING enough…

  3. no way. he don’t care about saving. we would never shop enough for him. look at how he used the country’s credit card.

  4. What always pisses me off about this economy is what Paul Krugman said in the Rolling Stones article. The economy is good for the RICHEST but not for most Americans. And of course it is a fiction that the press keeps writing about as if the world only consisted on people who get all their money the rich way. Passive and from tax cuts on their earnings and capital gains.

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