Bush's "STRONG" U.S. economy grows at slowest pace in 3 years

[Bush_Eats_Beef]

What can I say but "Buck Fush." Buck the lying, spinning, Oedipal, substance-abusing A.W.O.L. Son of a BITCH.

U.S. economy grows at slowest pace in 3 years
GDP advances at sluggish 1.1 percent rate as consumer spending wanes

WASHINGTON - The economy grew at a sluggish 1.1 percent rate in the final quarter of last year, the slowest pace in three years, amid belt-tightening by consumers facing spiraling energy costs.

The sharp slowdown surprised economic forecasters, although even with the poor showing the the economy registered respectable overall growth of 3.5 percent for all of 2005 — a year when business expansion was undermined by devastating Gulf Coast hurricanes.

The 1.1 percent rate marked a considerable loss of momentum from the third quarter’s brisk 4.1 percent pace and the average 3.6 percent rate of the past four quarters. Economists noted that the GDP figure published Friday was preliminary, and the Bureau of Economic Analysis generally has revised the figure upward in previous quarters.

But still, some analysts said the surprising slowdown means the Fed's long series of interest-rate hikes is beginning to bite. "The overall message that the lagged impact of the Fed's tightenings are beginning to percolate through the system is coming through loud and clear," said David Rosenberg, chief North American economist for Merrill Lynch, a research note.

[Fenris]

1. "belt-tightening by consumers facing spiraling energy costs"

Get used to it.

[NanceGreggs]

2. I'd like to see the 'belt' tightened ...

... around the necks of the Big Oil profiteers.

(I guess I just bought myself a wire-tap ...)

[Fenris]

3. Actually, my post before was incorrect...

The consumer 'belt-tightening' will begin to reverse once production nears its pre-Katrina level. Then we'll all have a little more time to consume ridiculously before a general petroleum crunch.