Posted on 07/14/2014 10:21:03 AM PDT by GilGil
Back in 2013, Williams predicted that it would be “game over” in 2014. What are the statistics showing him now? Williams says, “They are showing the economy continues to weaken, and it never recovered. A second quarter contraction here would most assuredly be recognized as a new recession, and I contend we never got out of the old recession. We had plunge, stagnation and, now, we are turning down anew.”
(Excerpt) Read more at usawatchdog.com ...
I’m afraid you’re right.
That is not what is being touted on bloomberg. The economy is picking up around the world and the Fed will need to raise rates to contain the enthusiasm.
The Detroit DemocRats need to hang from the nearest tree.
While the economy may not be doing well, its impossible for it to do down. Why? The USA is producing 1 million barrels@ day more oil in 2014-2015. And natural gas prices remain low as natural gas production increases. This is adding an extra 400 billion dollars — on its way to 1 trillion dollars in the next three years to the economy.
If we’re producing so much oil, why am I paying $3.99/gal???
Absolutely correct. That is why since Obama became president 14 million people disappeared off of the employment roles, 50 million people are on food stamps which is 30 million more than when he became president, and 50% of college grads can’t find work. This is definitely a confirmation the economy is booming.
But they say it with a straight face even! hehe
It’s because every conceivable world wide event causes US gas prices to go up. At least that’s what I get from the news.
>>While the economy may not be doing well, its impossible for it to do down<<
What ever are you tawkin bout?
Just had a -2.9% growth rate for the previous quarter. Sounds down to me.
Don’t you know that in the age of Obama facts are irrelevant.
Since you put it like that....why yes, yes they are. lol
Gasoline is priced globally - easy to ship. Natural gas, not easy to ship, dropped 80%.
What ever are you tawkin bout?
Just had a -2.9% growth rate for the previous quarter. Sounds down to me........
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true. but most economists this side of the rodeo say the first quarter was a fluke because of bad weather. we won’t know for sure until second quarter numbers come out. even then it will be a couple of months later before the final revised numbers are out. One thing is for sure though, the big growth in the economy is coming in the midsection of the country fed by high beef prices and wild growth in the oil patch— and not on the coasts.
Bloomberg is again trying to kindle the Animal Spirits and Green Shoots. Reminding folks the Fed could raise rates soon is geared toward encouraging folks on the fence to act now else be punished by higher rates.
Ain’t gonna work.
This is the new normal. The economy lack fundamentals that cause growth. IMHO, the main missing link to such positive growth is TRUST. Companies are leary to invest in such a climate.
Good point. It looks like energy production is saving us.
Sorry, with all due respect, I just don’t buy it.
Uncle sugar has been blaming sluggishness in the economy on the weather for the last two quarters.
As far as the economy being better based in part on higher prices does nothing more than remove disposable income from the middle class that could be spent on washing machines, autos, towels, shoes and so forth.
High fuel prices may be good for the energy sector, but lousy for many other sectors of the economy. Remember, the summer months are typically slower months economically.
We will have to wait and see, but my gut tells me that the next GDP announcement will look a little better, then it will be revised downward, then revised yet again to either stagnant growth or negative before all is said and done.
The EPA has made it impossible to build a new refinery in this country and near impossible to expand one. China and India have growing gasoline needs, and based against essential commodities (food, fuel, etc.) the US dollar is losing purchasing power due to our insane economic policies of the last decade. Oh, and gasoline prices go up on perception and down on competion so when you have a press and a regime that need continual crisis you are bound to have prices go up on the uncertainty alone.
As far as the economy being better based in part on higher prices does nothing more than remove disposable income from the middle class that could be spent on washing machines, autos, towels, shoes and so forth.
High fuel prices may be good for the energy sector, but lousy for many other sectors of the economy.
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Totally agree on this. However, the energy companies are investing several hundred billion dollars annually in new money in oil and gas and related industries. You are dead right that this is not as good as lower energy prices but its enough to keep the economy from going down the toilet. Remember the oil industry is creating wealth ex nihilo from nothing to back the dollar just as the fed is creating money ex nihilo from nothing to undermine the dollar. That’s why the dollar has been going generally sideways for several years. that’s also why gold is down sharply from its peak several years ago in a formation that looks very much like that of 1980,
Second quarter gnp numbers are not in yet nor are their revisions. We’ll see.
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