Former Fed Chairman Alan Greenspan put it correctly when he said on ABC's This Week that when we look back at July 2009 it will be considered the month that the economy began to rebound. Today we had some news that Unemployment numbers for July fell from 9.5% to 9.4%. This marks the first time in over a year that that percentage has fallen. What else makes July so significant? The Stock Market had the single most productive month in nearly 7 years. The Stock Market not only predicts the future profitability of corporations but can also indicate consumer outlook. A rallying in the stock market not only shows growing consumer confidence but can also incite confidence in the cynical. Finally, Second Quarter 2009 also marked a much slower decline in Real Gross Domestic Product (GDP). The loss was -1% which is much less than the -6%+ that we had seen in Q1 2009. The USA Today even predicts an increase in Real GDP starting in October.
What I want to know now is where is all the GOP rhetoric that the Stimulus Package was failing?
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