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GDP: WORST STATISTIC EVER

YOU ARE ALL RICH SO STOP COMPLAINING: The economy grew at a 3.5% pace last quarter, with cash-for-clunkers helping boost durable good spending 22.3% and a federal tax credit for homebuyers increasing housing spending 23.4%. Now that members of the upper-middle class all have new cars and homes, the dough should be trickling down to the rest of us any day. [NYT]


1:07 PM on Thu October 29 2009
By Jim Newell
601 Views

  1. proudgrampa says at 1:12 pm, October 29th, 2009

    Oh, yeah. I feel wealthy already!

    What a crock.

  2. SayItWithWookies says at 1:14 pm, October 29th, 2009

    The Bush tax cuts are finally working!

  3. Evil Dr. Puma says at 1:15 pm, October 29th, 2009

    Time to buy a new piggy bank.

  4. Mild Midwesterner says at 1:16 pm, October 29th, 2009

    So if I put a nickel in the bank now, at the end of the year I will be able to swim all Scrooge McDuck like in my pool of $0.05.035.

  5. Evil Dr. Puma says at 1:17 pm, October 29th, 2009

    SayItWithWookies: And that’s good news for John McCain!

  6. stratonike says at 1:17 pm, October 29th, 2009

    Like golden showers.

  7. SnarkittySnarkSnark says at 1:20 pm, October 29th, 2009

    when does the cash for hobo beans program start?

  8. hobospacejunkie says at 1:20 pm, October 29th, 2009

    Goddammit nobody told me we were supposed to buy a new home & new car last quarter!

  9. bureaucrap says at 1:20 pm, October 29th, 2009

    The recession has been officially declared to be over. Therefore, if you get laid off or foreclosed on now, it’s your own da*n fault. GET A JOB!

  10. natoslug says at 1:20 pm, October 29th, 2009

    My septic tank backed up, which provided plenty of trickle-down. At least for the septic service.

  11. Lascauxcaveman says at 1:21 pm, October 29th, 2009

    My wife just informed me we need to save up $4400 so the whole family can go to NYC to see my daughter’s choir sing at Carnegie Hall in 2011. So I am officially poor again, until our return flight touches down in Seattle after that.

  12. V572625694 says at 1:22 pm, October 29th, 2009

    SayItWithWookies: Ha! And ha again! Fox News should pay you royalties.

  13. bitchincamaro says at 1:28 pm, October 29th, 2009

    Jim, call me. Let’s discuss the renovation of your McMansion/hovel. My crew is getting desperate.

    Lascauxcaveman: I’ve got room for a family-size tent in my Queens backyard, caveman. Try to do it in a temperate month, otherwise it could get nasty up in here.

  14. shortsshortsshorts says at 1:30 pm, October 29th, 2009

    YES! I JUST BOUGHT THREE HOUSES WITH NO MONEY DOWN AND 8 DOLLARS IN THE BANK ACCOUNT. IT FEELS GREAT TO HAVE ALL OF THIS LEGITIMATE CREDIT AGAIN, RIGHT DOOODS?

  15. ChernobylSoup v2 says at 1:31 pm, October 29th, 2009

    I can feel it. With all this new disposable income I’ve got we’ve been buying Kraft MacNCheese to go along with the ramen noodles. Good times.

  16. The “trickle down” effect depends on whether the upper classes remember to shake before flushing.

  17. Guppy06: Didn’t somebody call that the ‘tinkle down effect’?

  18. Naked Bunny with a Whip says at 1:55 pm, October 29th, 2009

    I will be spending my loot on breasts. Full, supple breasts I can fondle and nuzzle my face between all day and night.

    So, any of you boys need some money?

  19. DangerousLiberal says at 1:59 pm, October 29th, 2009

    Don’t wet yer underoos, y’all. They’ll revise this number downward soon. On a Sunday. On Super Bowl</i< Sunday. Until then, we’re filthy rich!

  20. Larry McAwful says at 2:02 pm, October 29th, 2009

    Cash for clunkers is still going on! You can come to my house and buy my now non-functioning 1997 Chrysler Sebring off of me. All it needs is to have its battery recharged and something to make the engine turn over. It’s got 98,000 miles on it. You can pay me for it, cash. And you have to figure out how to get it out of my garage. I am serious.

  21. This is great news. Now the state of Arizona can afford to extend my unemployment benefits! Looks like I’ll be buying that boat after all!

  22. Hooray For Anything says at 2:55 pm, October 29th, 2009

    bureaucrap: Sadly, congress is debating an extension to unemployment benefits (you could probably guess which party is being a bunch of punk-ass bitches over it) and I fear that with these numbers out there, the punk-ass bitches of one party and the spineless turds of the other party are going to suddenly decide that there’s no point in giving out anymore unemployment extensions because the numbers mean that Safeway and Starbucks will be hiring again.

  23. proudgrampa says at 3:11 pm, October 29th, 2009

    Larry McAwful: “And this is El Monte Slim sayin’ come on down to Wide Track Town in Wilmington!! This Sebring’s got the tires, got the steering wheel and it’s got your Easy Rider Rifle Rack, yes sir, with room for not one but three of your favorite rifles!!!”

  24. Lascauxcaveman says at 3:14 pm, October 29th, 2009

    Larry McAwful: Heh. I remember you. You’re the guy with the Sebring, and it’s not even a convertible one. Talk about a McAwful car! I don’t feel so bad about my intermitantly-functioning Saab now.

  25. Larry McAwful says at 3:19 pm, October 29th, 2009

    proudgrampa: Yeeehawww! Now that’s the kinda Sebring I need!

    Lascauxcaveman: I’ve got a fully functioning 1999 Oldsmobile Alero now. It’s got over 125,000 miles on it and it’s not a convertible, either. Well, it’s almost fully functioning. I lost the driver’s side mirror in a construction zone a few weeks ago, and still have to get that replaced.

    Anyone can come to Boston and claim this car! All offers considered! Especially sex!

  26. thesheriffisnear says at 3:21 pm, October 29th, 2009

    Not so sure I like the snarky implications. Don’t you know that a rising tide raises all boats, or some such thing as that?

  27. thesheriffisnear says at 3:28 pm, October 29th, 2009

    Naked Bunny with a Whip:

    SUPPLE, yum!!!!

  28. sati demise says at 3:53 pm, October 29th, 2009

    yea, but all those people turning in their clunkers said (lied) that they were going to buy a car anyway!

    so, the experts said it does not count. they would have bought a car without the rebate…ummmm sure whatever.

  29. DustBowlBlues says at 4:48 pm, October 29th, 2009

    bureaucrap: First, I’m touched and charmed by the use of an asterisk in a G-rated curse word, here on a blog where old fuckers me like I routinely use everything but the C-word. I’m too much a lady for that.

    Secondly, who gives a shit if anyone has a job. If people feel like things are better, Hopey wins.

    Oh, and getting the fuck out of Afghanistan and Iraq and saving hundreds of billions of dollars otherwise charged on our card at the People’s Bank of China would help, too.

  30. DustBowlBlues says at 4:49 pm, October 29th, 2009

    DustBowlBlues: me

    Delete that word from above post, please.

    Thank you.

  31. LowerdPeninsula says at 3:23 am, October 30th, 2009

    DustBowlBlues: That’s right, because governance is greater than or equal two campaigning 24-7. The invisible Americans are still just as invisible as ever, but at least Hopey’s in office. Huzzah! Yes, other than that, Mrs. Lincoln…

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