XPost: ba.politics, dc.media, soc.penpals   
   XPost: alt.burningman   
   From: ymol@obamatheliar.com   
      
   Impeach this ignorant Obama bastard and get him on the road back   
   to Kenya where he belongs.   
      
   Consumer spending fell in July for the first time in six months,   
   but a measure of confidence among households hit a seven-year   
   high in August, suggesting the retrenchment would be temporary.   
      
   A third report on Friday showed a sharp acceleration in factory   
   activity in the Midwest this month, a further sign that the   
   economy remains on solid ground.   
      
   “The weakness in spending will quickly subside this fall” as   
   momentum builds from promising signs like the surging stock   
   market, rising home prices and an improving job market, said   
   Michael Woolfolk, global markets strategist at BNY Mellon in New   
   York.   
      
   Consumer spending, which accounts for more than two-thirds of   
   economic activity in the United States, dipped 0.1 percent last   
   month after rising 0.4 percent in June, the Commerce Department   
   said. Economists had expected a 0.2 percent gain. When adjusted   
   for inflation, it fell 0.2 percent.   
      
   The weakness in spending prompted some economists to lower their   
   forecasts for third-quarter economic growth. Goldman Sachs cut   
   its projection by two-tenths of a percentage point to a 3.1   
   percent annual rate. Macroeconomic Advisers cut its forecast by   
   a similar amount, taking it down to 2.9 percent.   
      
   But it also left inflation muted in July, giving the Federal   
   Reserve room to keep interest rates near zero for some time.   
      
   Consumer prices edged up 0.1 percent, the smallest rise since   
   February, the spending report showed. In the 12 months through   
   July, it was up just 1.6 percent. Excluding food and energy,   
   prices also rose 0.1 percent, with the 12-month reading holding   
   at 1.5 percent. The Fed targets inflation of 2 percent.   
      
   http://www.nytimes.com/2014/08/30/business/economy/spending-dips-   
   but-consumer-confidence-hits-high.html?_r=0   
      
        
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)