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 ...
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.
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.
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...
How can anyone believe any numbers coming out of this government?
They already admitted they messed with the unemployment numbers to skew the election.
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.
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.
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.
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?
Fine. Let’s continue to reduce QE and see what happens with the stock market.
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.
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.
If this is even remotely true it is very...unexpected.
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.
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?
Anyone believe anything that comes out of this administration is insane.
Obammy and company are f-ing LIARS.
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
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.
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!
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
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.
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