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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (203066)	11/15/2001 2:04:34 PM
From: greenspirit	Read Replies (2) \| Respond to of 769670

U.S. Recession Over Before It Began. stratfor.com November 14, 2001 The latest economic data show the United States was on its way to a robust recovery before the Sept. 11 strikes. The economy is in the midst of a major rebound this quarter and will continue strong growth in 2002. Northern Alliance troops poured into the Afghan capital of Kabul Nov. 13, igniting optimism that the war against the Taliban will end quickly and the U.S. economy can get back to making money. But despite the conventional wisdom that the United States is close to or in a recession, evidence shows that a major recovery is already underway. Analysis Since the Sept. 11 attacks, the U.S. media has popularized the notion that the country is in or on the brink of recession. Such hysteria is somewhat understandable, given that the destruction of the world's largest commercial space, the temporary suspension of much of the U.S. transportation network and the evisceration of consumer and business confidence have had a very real economic impact. But the situation is not nearly as dire as the public has been led to believe. Although many of the most optimistic pundits pegged a U.S. recovery to next year, close scrutiny of the numbers shows the so-called "recession" is over. The economy is already in the midst of a major recovery this quarter, with continued strong growth to occur in 2002. U.S. gross domestic product contracted only 0.4 percent in the third quarter this year, far less than what many, including STRATFOR, were expecting. When the depth of the terrorist attacks and the relative strength of the GDP figure are compared, it becomes apparent that the United States was well into a robust recovery before the strikes.

To: Kenneth E. Phillipps who wrote (203066)	11/15/2001 2:41:54 PM
From: Srexley	Respond to of 769670

"Curiously, Senator Gramm is an economist: he should know that the last thing we need now is delay" Interesting what you hilight as something to prove a point. To me it looks like this writer is saying that since he is an economist he should know "not to delay". The real message though is that because he IS an economist he CANNOT allow the dem handout program to go through because he KNOWS it will not work. You (because you highlighted it) and the author must believe that an economist's role in this situation is to act quickly regardless of whether it is correct or not. Weird, but it helps me see how you think.