But fed, the republican National committee and the wall street journal say everything is great:
This just in, from the Republican National Committee:
"'Last month this economy exceeded expectations and added new jobs. Inflation is low. After-tax incomes are rising. Home ownership is at record highs. Productivity is high. Factory orders, particularly for high-tech equipment, have risen over the last several months. Our strategy has set the stage for sustained growth. By reducing taxes we kept a promise, and we did the right thing at the right time for the American economy.'
"- President George W. Bush, 10/16/03
"As The Wall Street Journal editorial board announced this morning, 'The good economic news keeps coming,' and a newly released report from the Federal Reserve shows that it is coming in from across the country!
* Jobless claims are at their lowest levels in eight months. * Employment grew by 57,000 in September. * Stock market values have increased $2 trillion in last ten months. * Disposable personal income is up 3.8%. * Home ownership is at record highs with a 68% ownership rate. * GDP growth is at 3.3% in the second quarter. * Productivity growth remains strong, which has bolstered profits. * Orders of manufacturing goods continue to increase. * Shipments and orders of durable goods increased this summer. http://www.dailyreckoning.com/
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