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

To: miraje who wrote (508701)	12/12/2003 9:39:56 PM
From: Lizzie Tudor	Respond to of 769670

Keep dreaming James This is not a 6.2% economy, with no jobs and poor retail spending. And the problem is that when the government touts these bogus figures, which it surely knows are incorrect, it causes retailers and other small businesses to build up inventory that they must subsequently dump. Consumers Turn Gloomy Despite Good News The University of Michigan's preliminary reading of consumer sentiment dropped to 89.6 in December from November's final reading of 93.7, leaving financial markets waiting for a result of 96.0 flat footed. "This result is hard to believe," Stephen Stanley, senior economist at RBS Greenwich Capital in Greenwich, Connecticut, said in a research note. biz.yahoo.com Yes- the result of consumer confidence is hard to believe, but not as hard to believe as a 6.2% GDP. If you don't believe me go to your local gift retailer tomorrow and look at all the crap that is marked down 50% or more. Why do they have so much inventory to move? Because they assumed the govt figures were on the mark which they are not. (they are measuring US companies sales as if all the stuff sold here is produced here which is not true at all)