on-auto
related sales figures like appliance outlets, clothing stores and gasoline
stations also posted substantial gains.
Coupled with short-term interest rates being at a forty-five year low,
this economy may just push us into positive promise land.
Investment Business Daily contents that throughout the third quarter
of 2003our economy has been expanding at an unbelievable rate of seven
point two percent (7.2 %). These statistics make this current economic
recovery the best in the past twenty years or more.
An economic spurt like this should go a long way towards reducing the
huge unemployment numbers, cutting the high number personal bankruptcies
and making the common man whole again. Having a job at Christmas will raise
However, if the economy suddenly has more money circulating than it
has in twenty years then there is the threat of inflation. The question
should loom -- will this economy be able to afford this growth spurt if
inflation grows rampant' Inflation is just that, an abnormal increase in
either excess credit or currency which therefore raises the prices of our
goods and products. The answer has come from the Fed.
"The Federal Reserve is expected to hold its main short-term interest
rate at a 45-year low of 1 percent at its last meeting of the year in
December, as well as into part of 2004, economists predict. Holding short-
term rates at such low levels might motivate consumers and businesses to
spend and invest more, something that would lift economic growth." (Aversa)
"Employment continued to trend up in November and the unemployment
rate, at 5.9 percent, was essentially unchanged from October, the Bureau of
Labor Statistics of the U.S. Department of Labor reported today. Non-farm
payroll employment rose slightly over the month (57,000)." (Em
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