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4th Quarter GDP Estimate Reduced to .8% from 1.5%
| January 14, 2013
| Mike Shedlock
Posted on 01/14/2013 5:44:49 AM PST by Kaslin
Edited on 01/14/2013 5:46:08 AM PST by Admin Moderator.
Holiday sales of electronics and toys plunged this past Christmas season. Also of note, JPMorgan lowered its annualized 4th quarter GDP estimates down to .8% from 1.5%. Nonetheless, analysts see a silver lining to the data. They always do.
Toys R Us reported a key sales figure declined in November and December, hurt by weak demand for videogames, electronics and toys and shoppers who pulled back because of Superstorm Sandy.
(Excerpt) Read more at finance.townhall.com ...
TOPICS: Business/Economy; Editorial
KEYWORDS: economy; obamanomics; recovery; sandysfault
posted on 01/14/2013 5:44:51 AM PST
posted on 01/14/2013 5:48:00 AM PST
( "Those who hammer their guns into plows will plow for those who do not." ~Thomas Jefferson)
The media at all levels is pushing the BIG COMEBACK of 2013, yet the facts show something completely different. The reelection of Obama sent shockwaves into the tepid economy.
posted on 01/14/2013 5:49:25 AM PST
(Obama supporters are comprised of the uninformed & the ill-informed)
Your post of unexpected was unexpected.
posted on 01/14/2013 5:49:55 AM PST
The American news media is a parody of itself. They make soviet era TASS look trustworthy.
posted on 01/14/2013 5:53:37 AM PST
The cycle of hype for the next quarter, inflated initial numbers and unexpected downward revision continues. Rinse and repeat.
posted on 01/14/2013 5:58:19 AM PST
(Give me freedom, not more government.)
Is it Recovery Summer yet?
“....and shoppers who pulled back because of Superstorm Sandy.”
How do they keep a straight face when they write this stuff? Maybe they really do think the world is limited to the East Coast.
posted on 01/14/2013 6:00:23 AM PST
(Mr. Soetoro, we regret to inform you that your race card is over the credit limit.)
Do they factor in inflation when computing this .8% number?If they didn’t,then we’re into negative numbers.Almost sounds like a recession to me.
posted on 01/14/2013 6:04:05 AM PST
by Farmer Dean
(stop worrying about what they want to do to you,start thinking about what you want to do to them)
To: Farmer Dean
“””Do they factor in inflation when computing this .8% number?If they didnt,then were into negative numbers.Almost sounds like a recession to me.”””
Recession??? I don’t think so. Rainbows and unicorns, green lights and blue skies. Just watch the “news” and you will find out how great we are doing. /s
hurt by weak demand for videogames, electronics and toys and shoppers who pulled back because of Superstorm Sandy.****
It may not have been a hurricane but it sure did have super powers. Now it’s messin’ with the videogamers and kiddos who were so freaked out they won’t even play with their toys.
It may not have been a hurricane but it sure did have super powers. Now its messin with the videogamers and kiddos who were so freaked out they wont even play with their toys.
Maybe the storm just made kids think what was important in life, like getting the maximum score in "Super BloodFest VII" rather than whining that they will die if they don't get "Super BloodFest VIII" when the stores opens at midnight to sell it.
posted on 01/14/2013 6:40:53 AM PST
(Choose one: the yellow and black flag of the Tea Party or the white flag of the Republican Party.)
posted on 01/14/2013 6:41:02 AM PST
The economy is going to sink back into the toilet in 2013 and somehow it will be the Republicans’ fault.
posted on 01/14/2013 6:48:36 AM PST
by Opinionated Blowhard
("When the people find they can vote themselves money, that will herald the end of the republic.")
Is it Recovery Summer yet?
Not until we get through Recovery Winter III and Recovery Spring III.
That is what the administration has been doing all along
posted on 01/14/2013 7:12:29 AM PST
(He needed the ignorant to reelect him, and he got them. Now we all have to pay the consequenses)
The media at all levels is pushing the BIG COMEBACK of 2013
Every friggin' year we're hearing this. Remember Biden the Slow's claims of a "Recovery Summer" a couple years ago?
posted on 01/14/2013 7:28:02 AM PST
(More dizzying than a Tilt-a-Whirl is an around-a-circle argument with a liberal about gun control.)
Sandy...flu...what will be blamed next to distract from the real problem which is money being sucked out of the private sector to fund an ever expanding government behemoth.
posted on 01/14/2013 7:34:16 AM PST
The Dems are running out of excuses and it doesn't matter so long as the
MSM are covering for them and distracting the public with gun control.
posted on 01/14/2013 8:02:01 AM PST
(Gun free zones was the invitation to gun bans by the left, at any cost)
To: Farmer Dean
I saw some on a “news” program last night complaining about robots. That’s why obama’s economic plans are failing: robots taking jobs. Low information voters indeed.
posted on 01/14/2013 8:17:04 AM PST
(God help us.)
To: Opinionated Blowhard
The ONLY thing the left is good at is placing blame. And they’re very good at it.
posted on 01/14/2013 8:19:32 AM PST
(God help us.)
In other news, Big Brother is increasing the monthly chocolate ration to 20g.
posted on 01/14/2013 8:36:00 AM PST
("As for God, His way is perfect" - Psalm 18:30)
Add the watering down of money ( the feds unlimited QE's)..... could we be looking at 90 - 120 Days to a Bond Collapse?
The same thing happened in 1930. This time, it would be much, much worse. (They didn't have a 47% freeloading population back then.)
The price of food would double, to say the least.
Less revenues and fees, more debt. Sooner or later, the beast will go on a diet of surprising austerity for unprecedented thinness, because eating more funny money is like eating grass.
posted on 01/14/2013 12:49:34 PM PST
(We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
Re: “Beast On A Diet”
“Do you accept credit cards?”
“Yes, this is a 12 gauge shotgun, and I do carry gold coins.”
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