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Politics : Impeach George W. Bush
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To: Skywatcher who wrote (23510)11/12/2003 4:38:23 PM
From: Raymond Duray  Read Replies (1) of 93284
 
Chris,

Re: Just to go along with the JOBLESS RECOVERY...whatever the HELL that means:

The 7.2% gain in GDP can be explained by several components.

1. Increased military spending
2. Increased expense for imported oil
3. Inflated figures from the BEA that will be revised downward.
4. One time tax transfers to taxpayers in phony "tax rebates".
5. Residential construction activity.

Of these, the only gain that is "real" as far as the economy is concerned is the construction figure. And with mortgage interest rates going up, this sector will not be sustainable.

We just witnessed a statistical mirage.
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