Among the issues most commonly discussed are individuality, the rights of the individual, the limits of legitimate government, morality, history, economics, government policy, science, business, education, health care, energy, and man-made global warming evaluations. My posts are aimed at intelligent and rational individuals, whose comments are very welcome.

"No matter how vast your knowledge or how modest, it is your own mind that has to acquire it." Ayn Rand

"Observe that the 'haves' are those who have freedom, and that it is freedom that the 'have-nots' have not." Ayn Rand

"The virtue involved in helping those one loves is not 'selflessness' or 'sacrifice', but integrity." Ayn Rand

29 August 2008

2nd Quarter GDP Growth 3.3% Annual Rate

The revised second quarter growth rate was a very healthy annualized rate of 3.3%. The rate for July was 1.9%.

90% of the growth in the 2nd quarter was due to exports. This goes far toward showing why free trade is a good thing for America. We are very able to compete on the world markets. Exports increased in the second quarter at a 13.2% annual rate. The U. S. trade deficit fell to its lowest level in 8 years as a result. In comparison, the economies of Japan and Germany shrank in the 2nd quarter. Corporate profits in the U.S. were 7% lower than they were in the same quarter a year ago, however. U.S. GDP growth in the third quarter is predicted to be a slower 1.5%, but the predictions lately have been systematically on the low side.

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