Posted on 01/30/2013 6:39:43 AM PST by Reaganite Republican
Naaaaaah... Nothing to fear at all. Happy days are here again!
The fact that the economy contracted by 0.1% in the face of a withering, full frontal assault by Obama and his Leftist comrades, is a testimony to the hard-work, resiliency, and ingenuity of what's left of the free market.
Here's the analysis from Wells Fargo that came out moments ago:
Real Final Sales Up on Consumer and Residential Investment
Obviously, defense spending overstated third quarter GDP and depressed fourth quarter GDP. Therefore, we reemphasize the point that real private final sales to domestic purchasers provide a good benchmark for the underlying strength of the economy and remove some of the volatility due to inventory swings and government spending. Real private domestic final sales illustrate two characteristics of the U.S. economy today that are often lost in the hype of GDP. First, note the relative stability of sales over the past few years. There is a sense that underlying domestic demand has been remarkably stable overall while relative strength has shifted between sectors. Second, note how the pace of sales in the current expansion has clearly downshifted from prior expansions. This reinforces a theme we have often presented that growth in the current expansion has indeed settled into a slower growth pattern compared to the past and the expectations (hopes) of some analysts.
The Pluses: Consumer Spending and HousingYes, Housing
Personal consumption and residential investment carried the water in the fourth quarter. Personal consumption was up 2.2 percent in the fourth quarter and up 1.9 percent during all of 2012. Real disposable income grew 1.5 percent in 2012 and we expect it to return to that growth rate in the second half of 2013 after the hit from higher payroll and income taxes in the first half of this year. Residential investment registered double-digit gains in the second half of 2012 and we expect that momentum to remain in 2013. We anticipate that housing starts will pick up to a one million-unit pace by the fourth quarter of this year compared to a 900,000-unit pace in the fourth quarter of 2012. Earlier this week, the Case-Shiller Home Price Index was up 5.5 percent year over year for Novembera very good sign.
At bottom, it's a spiritual malady, since we know Who Truth is.
I remember being surprised at the 3.1% growth in the Third Quarter until it was shown that so much of that growth was from Federal Government Spending... That was another Obama “spend it now to show we’re not sinking” tactic that the low information voter just accepted. Now we see the reverse in the 4th quarter.
And, of course, Cramer blames it on “Congress” and the fiscal cliff mess with not a mention of who resides in that great big white house in DC.
>Let Q2 show another drop and itll be official: Obamas >double-dip recession.
Q2 will be even worse. The US economy is in a 5 way squeeze.
1. Young workers, those note unemployed are saddled with college debt, so they aren’t spending.
2. Baby Boomers, looking at not retiring, low fixed income investment returns, so they aren’t spending
3. >50% of all US are living paycheck to paycheck, and now that pay check is smaller due to tax increases and portion they must pay of increasing health care premiums.
4. Increased US debt and fed QE are devaluing the dollar, so monthly cost of living is increasing. The cpi is a lie.
5. Obamacare is creating a new middle class where workers will need to work 3 part time jobs to (3x20 hours) to stay even with where they were before obama (BO)
Hussein Obama’s Fecal Federal Finger continues to lure the gullible Obamanation supporters to their doom - - - - .
Hussein O. is a Pied Piper of Poop, Pork and Propaganda.
I got told:”We survived Bush. You will survive Obama.”
They don’t care that the country won’t survive Obama.
LOL! “BroncoBama”! LOL!
I remember that tearful little girl giving the Chicago communist that moniker. Thanks for reminding us!
You made me laugh.
I should add that I know only one family that is unemployed. It just happened, the employer likely has some personal grudges and the former 20-year employee is nearly 50 w/some major physical issues and will be eligible for a VA subsidy for combat-related injuries.
Other than that, everyone I know is doing fine.
I think the punk POTUS has and will do enough damage at every level to doom us as a second or third tier nation for good. Rome had a good run too after about 400 years. Looks like ours will be about 125.
2013 the new 1929 send thank you cards to Obama&Co.
What was funny was two days ago NBC radio was interviewing Alan Goolsby, the theme was ‘The economy’s back!’
That’s what you get when fully co-opted hacks are put on the air by propaganda outlets like NBC
Proof Positive.
My 89 year old Dad has always said we were doing exactly as the Roman Empire did, just at record speed :(
It's worth remembering that in 1801, when Jefferson became president, the US national debt was around $100 million, about 10 times annual federal revenues. This was literally "the cost of freedom," and would correspond today to a national debt around $30 trillion. Since our actual national debt is $13+ trillion, the government is in better financial shape today than it was in Jefferson's time. And at the time, Jefferson's number one priority was paying down the national debt. So, how did he do it? How does ANY wise government ever increase its revenues? Yes, that's right! JEFFERSON REDUCED GOVERNMENT SPENDING AND CUT TAXES. -- Victor Davis Hanson: Wall Street 101 #45 by BroJoeKThank BroJoeK, and for that matter, thanks President Jefferson.
Yes, the economy really was in decline at the time of the last election, but did voters really re-elect Obama or was the outcome of the election determined by fraud and cheating in the electoral process, targeted cunningly to densely populated Dem controlled areas in the swing states?
Numbers in this election simply didn't add up and deviated from heretofore reliable pre-election polling data by larger degrees than we've seen in the past. An unprecedented lack of integrity in the voting and vote counting processes offer the most reasonable mathematical explanation for these discrepancies, rather than a massive change in the demographics of the electorate. (The latter, of course, has been the MSM mantra since the day after the election.)
Kerry got 59 million in 2004. Obama got 69 million in 2008 . Obama got 66 million in 2012.
Which one of these outcomes appears most unlikely?
I'm asking that quite seriously because in 2012 Obama got barely 4 million more than Bush did 8 years earlier!
That's well within the range of normal growth in people who vote in the Presidential election over a period of years, and W's 62 mil to Romney's 61 mil to McCain's 60 mil doesn't show a wild deviation ~ nor much growth.
http://pjmedia.com/tatler/2012/09/30/we-are-the-91-only-9-of-americans-cooperate-with-pollsters/ ~ polling has gone to hades in a plastic laundry tub with wheels! When you are down to an average of 9% response rates with these telephone polling techniques you are no longer talking to a representative sample ~ in fact, a dedicated minority group which did nothing but direct its members to ANSWER THE PHONE to every survey could misrepresent its opinion 11X and easily overwhelm any response by the general public. Do not believe the polls anymore.
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