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U.S. Economy Grows 3.2% in 4Q
FoxBusiness.com ^ | 1/30/14 | Reuters

Posted on 01/30/2014 6:02:24 AM PST by mykroar

Robust household spending and rising exports kept the U.S. economy on solid ground in the fourth quarter, but stagnant wages could chip away some of the momentum in early 2014.

Gross domestic product grew at a 3.2 percent annual rate, the Commerce Department said on Thursday, in line with expectations.

While that was a slowdown from the third-quarter's brisk 4.1 percent pace, it was a far stronger performance than earlier anticipated and was welcome news in light of a 0.3 percentage point drag from October's partial government shutdown and a much smaller contribution to growth from a restocking by businesses.

Earlier in the quarter many economists were anticipating a growth pace below 2 percent given that an inventory surge accounted for much of the increase in the July-September period.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Breaking News; Business/Economy; Front Page News; News/Current Events
KEYWORDS: 4th; economy; growth; quarter
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light of a 0.3 percentage point drag from October's partial government shutdown

You can't make this stuff up. And how is this at all grounded in reality. I see a lot of business closures where I'm at and few, if any, new ones opening.

1 posted on 01/30/2014 6:02:24 AM PST by mykroar
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To: mykroar

Any .3% drag from a partial government shutdown was more than made up for with a stimulus from the sales of barrycades and government hiring of extra security personnel.


2 posted on 01/30/2014 6:04:53 AM PST by C210N (When people fear government there is tyranny; when government fears people there is liberty)
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To: mykroar

So, the quarter WITH the government shut-down has the best numbers in 6 years, yet it is to BLAME for not being 0.03% higher??

Ok...


3 posted on 01/30/2014 6:05:41 AM PST by Mr. K (If you like your constitution, you can keep it...Period.)
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To: mykroar

How can anyone believe any numbers coming out of this government?

They already admitted they messed with the unemployment numbers to skew the election.


4 posted on 01/30/2014 6:07:11 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: mykroar

And the ravages of ObamaCare on stretched household budgets aren’t even mentioned as the skunk at this year’s economic party? These people have no clue.


5 posted on 01/30/2014 6:10:12 AM PST by txrefugee
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To: mykroar

Is this the new accounting gimmicks instituted that takes in everything but the kitchen sink now? I don’t believe a damned thing coming out of this government. The daily evidence of a horrible economy is just too evident. If anything, it’s getting worse now with ObamaCare.


6 posted on 01/30/2014 6:12:04 AM PST by headstamp 2 (What would Scooby do?)
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To: mykroar

Inflation is deducted from the GDP. If the inflation figures were reasonably accurate (instead of completely fabricated) we would have a negative GDP. Because that is the reality of our economy. It is shrinking, not growing.

This is so eerily reminiscent of the soviet’s domestic propaganda in the 60s.


7 posted on 01/30/2014 6:13:17 AM PST by ChildOfThe60s ((If you can remember the 60s.....you weren't really there)
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To: mykroar

There was a “government shutdown” and a cutback on foodstamps.People were threatend with the end of endless unemployment benefits. The economy improved. Kind of says it all about big brothers effect on the economy, doesn’t it?


8 posted on 01/30/2014 6:15:54 AM PST by grania
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To: mykroar

Fine. Let’s continue to reduce QE and see what happens with the stock market.


9 posted on 01/30/2014 6:16:06 AM PST by kabar
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To: mykroar

A rise in govt spending offsets a decrease in economic activity. Govt deficit spending (aka increase of national debt) is counted as positive GDP output. It’s like a business taking out a loan and counting it as revenue in their shareholder report.


10 posted on 01/30/2014 6:16:09 AM PST by Justa
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To: MrB
How can anyone believe any numbers coming out of this government?

The real mystery is why they didn't claim that the economy grew by 32%. Then two weeks later they could quietly issue a statement saying it might have been 3.2 and not 32.

11 posted on 01/30/2014 6:17:34 AM PST by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
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To: mykroar

If this is even remotely true it is very...unexpected.


12 posted on 01/30/2014 6:17:45 AM PST by tiki
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To: mykroar

More BLS BS in fun-with-numbers:

UE jumps. 330,000 expected; 348,000 new claims.

The weekly number also includes the Monday holiday for MLK Day.


13 posted on 01/30/2014 6:17:55 AM PST by TomGuy
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To: mykroar
Darn the luck!

If only this news came out before Soetoro's STFU speech.

Wait. Is this the revised number or is this the number to-be-revised after Preezy Pajama Boy is done gallivanting around the country extolling the number?

14 posted on 01/30/2014 6:23:38 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: mykroar

Anyone believe anything that comes out of this administration is insane.
Obammy and company are f-ing LIARS.


15 posted on 01/30/2014 6:28:03 AM PST by Joe Boucher ((FUBO) obammy lied and lied and lied)
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To: mykroar

Yeah, right. Like I would believe anything coming from the Obama regime Leftists.

Help the president lead the nation.

The Presidential Appointments Project, led by the Gay & Lesbian Victory Institute, serves as a talent bank for openly LGBT professionals seeking opportunities to improve our federal government’s policies and processes.

President Obama Names Transgender Appointee to Commerce Department
Devin Dwyer

President Obama recently named Amanda Simpson to be a Senior Technical Advisor to the Commerce Department.

LGBT Appointments in the Obama-Biden Administration

To date, the Obama-Biden Administration has appointed more than 250 openly LGBT professionals to full-time and advisory positions in the executive branch; more than all known LGBT appointments of other presidential administrations combined.

Department of Commerce
Michael Camuñez* Assistant Secretary, Market Access and Compliance
Lyle Canceko Director of Outreach and Strategic Initiatives, Office of the Secretary
Gary Gates Member, Census Scientific Advisory Committee
David Mills* Assistant Secretary, Export Enforcement
Paulina Montanez-Montes Confidential Assistant, Office of the Secretary
Peter Pappas Chief of Staff, U.S. Patent and Trademark Office
Ryan Rhodes Special Advisor, International Trade Administration
Jim Stowers Deputy Assistant Secretary for Legislative and Intergovernmental Affairs
Benjamin Walther Member, International Convention for the Conservation of Atlantic Tuna Technical Advisory Committee, National Oceanographic and Atmospheric Administration
Al Boudlin Member, Environmental Technologies Trade Advisory Committee, International Trade Administration
John Connor Director, Office of White House Liaison

http://www.victoryinstitute.org/presidential


16 posted on 01/30/2014 6:29:49 AM PST by KeyLargo
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To: MrB

Reminds me of that youtube video where this guy bought every single share of a company to make the point that there are counterfeit shares of companies out there. Sure enough, when he had accumulated the number of shares the company said there were in existence, people were still buying and selling shares on the stock exchange.

Our system is so broken that it takes a slap in the face for people to grasp just how broken it is. Once faith runs out it is done.


17 posted on 01/30/2014 6:30:16 AM PST by cuban leaf
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To: mykroar

They HAVE to be making this up. I know it’s only anecdotal, but personally, grocery prices are up. I have to use coupons, cut out luxuries (as if I already haven’t), gas bounces around, never know what it’ll be, so we don’t drive anywhere. I know we’re not spending more than we should. Bare minimums, and I know so many other people, the same story, just trying to make ends meet. I see gov’t related people with a little more, maybe that explains the numbers. I just... don’t believe this for one frackin’ minute!


18 posted on 01/30/2014 6:34:13 AM PST by Thorliveshere (Minnesota Survivor)
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To: txrefugee

U.S. Jobless Claims Climb 19,000 To 348,000

By Jeffry Bartash
Published January 30, 2014
MarketWatch Pulse

WASHINGTON – The number of people who applied for U.S. unemployment benefits rose by 19,000 to 348,000 in the seven days ended Jan. 25, marking the highest level in six weeks


19 posted on 01/30/2014 6:34:42 AM PST by KeyLargo
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To: mykroar

The headline is false; the story has it right.

The economy didn’t grow 3.2% in the 4th quarter; it grew at the rate of 3.2%/year in the 4th quarter.

Except it didn’t, for all the reasons that have been pointed out.


20 posted on 01/30/2014 6:37:07 AM PST by Arthur McGowan
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To: mykroar

They are reinflating the housing bubble with a new liar loan and other programs. That will cause some “growth” in the short term as that phony baloney real estate money hits the middle class economy.


21 posted on 01/30/2014 6:42:44 AM PST by lodi90
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To: cuban leaf

Broken has become the new mantra. Politicians on all sides are jumping on the concept. None of them admit that THEY broke it.

The average person pays little attention because it is the same ole rhetoric, same ole problems, same ole same ole. Makes not difference whether it is the budget, economy, jobs, unemployment, illegal immigration, etc. One can go back 5 years or 15 years or 25 years or 40 years and hear the same ole tired warnings and wailings.

How many of those 'crises' did politicans create just so they could claim a legislative or governmental crisis, throw money at the problem [money which seems to always find its way to political cronies], and claim it resolved -- until the next time it becomes a political football.
22 posted on 01/30/2014 6:46:20 AM PST by TomGuy
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To: mykroar

The “economy”

“Activity” continues to grow in Washington-DC Fairfax, which is why PRICES paid for essentials never really fall.

Furthermore, when the next report comes out, of the negative economy (already showing up with the falling stock market), it will be blamed on the “unusual” cold January causing a slowdown in consumer activity.

All a set up to keep Extorting.


23 posted on 01/30/2014 6:50:10 AM PST by Varsity Flight (Extortion-Care is the Government Work-Camp: Arbeitsziehungslager)
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To: ChildOfThe60s
WE ARE WELL ON TRACK FOR THE FIVE YEAR PLAN FOR PROSPERITY, COMRADE!
24 posted on 01/30/2014 7:05:28 AM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: lodi90
They are reinflating the housing bubble with a new liar loan and other programs.

I think only Democrats can qualify, though, so it probably won't have too much effect. :)

25 posted on 01/30/2014 7:05:58 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: mykroar

The economy did NOT grow 3.2% — what a lie!


26 posted on 01/30/2014 7:26:13 AM PST by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
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To: mykroar

All you statistic belong to us!


27 posted on 01/30/2014 8:06:39 AM PST by VRW Conspirator ( 2+2 = V)
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To: MeneMeneTekelUpharsin

I wonder the impact on the numbers of moving several hundred billion in spending/debt onto the books when the debt limit was extended in October.


28 posted on 01/30/2014 8:14:50 AM PST by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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To: mykroar

“Point Five. Every establishment, concern, corporation or person engaged in production of any nature whatsoever shall henceforth produce the same amount of goods per year as it, they or he produced during the Basic Year, no more and no less. The year to be known as the Basic or Yardstick Year is to be the year ending on the date of this directive. Over or under production shall be fined, such fines to be determined by the Unification Board.

“Point Six. Every person of any age, sex, class or income, shall henceforth spend the same amount of money on the purchase of goods per year as he or she spent during the Basic Year, no more and no less. Over or under purchasing shall be fined, such fines to be determined by the Unification Board.

Rand, Ayn (2005-04-21). Atlas Shrugged: (Centennial Edition) (p. 539). Penguin Group. Kindle Edition.


29 posted on 01/30/2014 8:15:55 AM PST by Pan_Yan (Who told you that you were naked? Genesis 3:11)
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To: mykroar

30 posted on 01/30/2014 8:17:06 AM PST by RckyRaCoCo (Shall Not Be Infringed)
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To: mykroar

I read ONLY the headline, and a few comments which seem to backup my initial reaction to this article, which is BS.


31 posted on 01/30/2014 8:49:49 AM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will. They ALL have fairies livin' in their trees.)
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To: ChildOfThe60s

I bought a piece of open land in 1976 for $9000.00, the owner financed it and it wound up costing me about $13000. including interest. I sold it in 1996 for $30000. I was amazed how many people thought I had really done well on the deal. According to my calculations, I lost money on it once you factor in inflation along with interest, property taxes and all the rest.


32 posted on 01/30/2014 8:53:09 AM PST by RipSawyer (The TREE currently falling on you actually IS worse than a Bush.)
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To: mykroar

             
                                         

33 posted on 01/30/2014 8:58:55 AM PST by tomkat ( -1 -2 -3 = #4)
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To: mykroar

Yesterday bought my cat some cat treats, normally they are 3 oz. bags for 1.50 now still 1.50 but contain only 2.47 oz. Since now getting 1/6 less for 1.50 plus the tax is still 9 cents price increase is 6 divided into 1.59 = slightly more then 26.5 cents/bag. Doing this in my small brain % increase would be about 17% in one days time. Cat going on diet and I writing the company to complain. Would switch brands but cat only eats this one, she has me trained.

Do my own shopping now since ex and I parted ways, notice the same scam often. Only answer is to sell the cat to Chinese rest. If you would like to save my cat, check my math and let me know I am wrong.


34 posted on 01/30/2014 9:22:56 AM PST by Foundahardheadedwoman (God don't have a statute of limitations)
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To: mykroar

All these numbers impute a value to government goods and services. No, I’m not kidding.


35 posted on 01/30/2014 9:27:28 AM PST by steve8714 (New tag line under construction)
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To: Lazamataz

Remember the wheat harvest forecasts the Soviets used to put out. Always said it was going to be a bumper crop then they bought shiploads of the stuff from us. They keep the math challenged to sleep by singing this same lullaby to us about inflation and umemployment. The sad part is it still works.


36 posted on 01/30/2014 9:32:11 AM PST by Foundahardheadedwoman (God don't have a statute of limitations)
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To: mykroar

‘Comrades!’ cried an eager youthful voice. ‘Attention, comrades! We have glorious news for you. We have won the battle for production! Returns now completed of the output of all classes of consumption goods show that the standard of living has risen by no less than 20 per cent over the past year. All over Oceania this morning there were irrepressible spontaneous demonstrations when workers marched out of factories and offices and paraded through the streets with banners voicing their gratitude to Big Brother for the new, happy life which his wise leadership has bestowed upon us. Here are some of the completed figures. Foodstuffs ——’


37 posted on 01/30/2014 10:05:21 AM PST by Count of Monte Fisto (The foundation of modern society is the denial of reality.)
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To: mykroar
Robust household spending

That would probably be more like "charging on the charge card" rather than paying cash.

38 posted on 01/30/2014 10:32:47 AM PST by RetiredArmy (All that call upon His name shall be saved! HE is the ONLY way to heaven. Only HIM!!)
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To: txrefugee
And the ravages of ObamaCare on stretched household budgets aren’t even mentioned as the skunk at this year’s economic party? These people have no clue.

They know exactly what they're doing. CBS radio news led the top of the hour with this:

"There was positive news in one of three important economic news items. Fourth quarter growth was very strong..."

No mention of the other two items.

39 posted on 01/30/2014 10:36:30 AM PST by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: mykroar

In other news, the chocolate ration has been increased to 20 grams.


40 posted on 01/30/2014 11:18:01 AM PST by RKBA Democrat (Having some small say in who gets to hold the whip doesn't make you any less a slave.)
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To: mykroar

The only reason to publish government numbers is to see what the latest lies are.


41 posted on 01/30/2014 11:41:15 AM PST by Revel
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To: mykroar
Components of GDP:


42 posted on 01/30/2014 11:44:40 AM PST by Wyatt's Torch
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To: TomGuy

3.2% growth in 4th quarter?

http://www.youtube.com/watch?v=InaRIYFPMiY

thus saith the Iceman and anyone else with walking around sense.


43 posted on 01/30/2014 12:11:32 PM PST by sarge83
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To: mykroar

Recovery Summer 6.0 is just around the corner!!!


44 posted on 01/30/2014 1:39:56 PM PST by cdcdawg (Be seeing you...)
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To: mykroar

we’ve recently been told that Christmas sales were dismal.
Applications for unemployment insurance increased.
Retail chains are closing down stores.
Millions have stopped looking for work.
Homes sales have dropped.

Despite all of this - we managed to have robust growth.


45 posted on 01/30/2014 2:02:27 PM PST by Scotswife
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To: mykroar
Uuuu hmmmmm (clearing throat) BULL S***!
Where is this "American economy" growing? In China? 92,000,000 + MILLION adult American citizens within our boarders are out of work with major corporations (i.e. J.C. Penny, Rosie O'Donnell's K-Mart and many others) making plans for closing down countless locations which will... in turn, put tens of thousands more out of work.

If ever anyone needed proof that obama and his henchmen are smoking crack (and God only knows what other mind altering substances they're injesting) all we need do is read these bogus economic reports. It's all a bunch of communist propaganda and it's paralyzing our nation.
46 posted on 01/30/2014 2:04:30 PM PST by Whats-wrong-with-the-truth
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To: mykroar

“Robust household spending and rising exports kept the U.S. economy” UP, on the books of American companies and by the standards of what money has changed hands in the economy, while there is little improvement on either the employment picture, the numbers “permanently” unemployed or the % of the working age population that is actually working.

Like Henry Ford said, he needed people who earned enough to be able to buy his cars.

There may be some “recovery” going on with the “U.S. economy” by some statistics, but it is NO recovery that most of the population is participating in - it remains stagnant at best in terms of where most people are.


47 posted on 01/30/2014 2:07:01 PM PST by Wuli
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To: Scotswife
"Applications for unemployment insurance increased."

Yeah... One of my sons is in a profession in Wisconsin where two or three times a year they are laid off for a few weeks (Union crap ya know?!) and when they are they file for unemployment, which I might add they are legally entitled to as the employers pay unemployment insurance just like every employer does. It's not some "extension" or some scam that's used to pilfer the tax-payers out of our hard earned money it is just the nature of the industry he is in. That said, I'd just a soon do away with unemployment altogether.
Anyway... During their last break over the Christmas holiday season it turns out Wisconsin discontinued accepting unemployment applications. Seems they were over extended paying all the "extended" benefits obama ordered them to pay to people that haven't worked for a couple of years.

Know this... We cannot believe anything this administration and their shills tell us.

48 posted on 01/30/2014 2:14:40 PM PST by Whats-wrong-with-the-truth
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To: mykroar

It is all just an illusion and and faux news is part of it!!


49 posted on 01/31/2014 3:46:24 AM PST by rambo316
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To: mykroar

Can someone explain to me - in layman’s terms - how the GDP is calculated? I feel like I’m reading Pravda. My eyes and my wallet are telling quite a different story. I know food prices have gone through the roof - would that account for a rising GDP?


50 posted on 01/31/2014 5:13:12 AM PST by old and tired
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