Wednesday, September 06, 2006
Oops, The BBC Admits That The US Economy Is Doing Great
It's official - The Mainstream Media can Kiss My Ass
I discovered something interesting while reading a BBC story on how the economies of the world reacted to the attacks on 9/11. I don't think the BBC realized what they were saying when they let the cat out of the bag that the United States economy is doing extremely well. After all, the media isn't allowed to talk about such positive things.
The BBC went so far as to provide some great charts that show just how well the economy is doing. According to the following chart, the % change in US GDP has been astronomical when compared to previous years. The amazing thing is that all of this growth has taken place after 9/11, the War in Iraq, and Katrina.
The best part is that the GDP in 2005 was actually higher than 4.3% according to revised figures on CNN.Com, who called it the perfect GDP.
The 2006 GDP has already been estimated at 5.3%, which blows the BBC's chart out of the water.
So what about the deficit? Just as the previous chart on the 2005 GDP, the estimated 2005 deficit (below) is incorrect. It is now estimated at 300 billion. Don't get me wrong, a deficit is a deficit, but when you take into account everything we've faced over the last 5 years, the fact that we have a shrinking deficit is amazing... and unmentioned on the nightly news.
So what's the big picture?
Our GDP continues to sky rocket, inflation is low, our deficit is continuing to improve, we have one of the lowest unemployment rates in the world (4.7%), and government revenue (tax dollar intake) is at an all time high even though we've had decreases in the tax rate. All of this while we're fighting a war, rebuilding New Orleans, and paying more per barrel of gas.
Our economy is on f'n fire.
Yes, it's a shock to me. All I ever hear is how bad things are. Honestly, if this is bad, I hope it stays bad for a very long time.
posted by El Capitan at 11:33 AM