August 19, 2005

Our lousy economy

With all but a handful of companies already reporting for the quarter, it turns out that three quarters of them met or exceeded their projected earnings.

Posted by: Ted at 06:08 AM | category: Square Pegs
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1 Exactly. Our economy is doing better than it hasin four or five years, and some people still complain. To them I say - get a job.

Posted by: shank at August 19, 2005 05:02 PM (jfEhX)

2 Don't forget 5% (and falling) unemployment, inflation at 2.1% (not counting oil, which would push it to more like 3%), and rising wages. In fact, all of the hype over oil is false too, as I point out here

Posted by: Eric at August 20, 2005 12:07 PM (CxTpC)

3 Can't wait to see next quarter's numbers, tho, particularly for companies that can't really pass along their higher energy/fuel costs to unwitting consumers.

Posted by: dawn at August 21, 2005 07:35 PM (Dh1V0)

4 That's just it though, Dawn. The last quarter already included some of the highest energy prices in US history (we're still not as bad as 1980 - adjusted for inflation), and it dragged things down some, but not enough to be negative. Yet another indicator about how strong the economy really is.

Projections are that fuel prices will begin to drop again this fall. How much? I don't know.

As for passing along fuel costs to consumers, well, *every* company does that in one way or another. If they don't raise prices then they make the package smaller or some similar trick. They've already built the increased fuel costs into their projections.

Posted by: Ted at August 21, 2005 09:16 PM (+OVgL)

5 Now and then a careless editor lets an oopsie re: good-economy news slip through: it'll appear buried in pages 20-32 under a 12-point head.

Posted by: dogette at August 22, 2005 10:53 AM (2bayr)

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