Posted on 04/28/2011 8:13:36 AM PDT by Sub-Driver
Economic growth slows, inflation surges Photo 10:56am EDT
By Lucia Mutikani
WASHINGTON (Reuters) - U.S. economic growth braked sharply in the first quarter as higher food and gasoline prices dampened consumer spending, and sent a broad measure of inflation rising at its fastest pace in 2-1/2 years.
Another report on Thursday showed a surprise rise in the number of Americans claiming unemployment benefits last week, which could cast a shadow on expectations for a significant pick-up in output in the second quarter.
Growth in gross domestic product slowed to a 1.8 percent annual rate after a 3.1 percent fourth-quarter pace, the Commerce Department said. Economists had expected a 2 percent growth pace.
(Excerpt) Read more at reuters.com ...
According to the media, this is a recovery.
As someone mentioned on another thread, apparently the months of positive reporting on the economy hasn’t made the economy any better. So much for all of that “recovery” talk. Must be pretty bad if the Obama-water-carrying media is getting away from the play book.
Is this the hope, or is this the change? :)
I seem to recall a word from the past...stag...stagflation. Yeah, that’s it! Ah, makes me recall the good old days of Mr. Carter...
Do I really need a sarcasm tag?
the misery index is going to be off the charts
why the phuqq is it always a ‘surprise’ when it is bad nooz?
the policies of this marxist and fraud are designed to do what they are doing.....
how is this a surprise???
Change! Change we can BELIEVE in!
LOL. I think the Obama apologists, aka journalists, believe they can make the economy better simply by printing it as fact. I do believe some of them have actually fallen for their own propaganda. Well, it’s up to us conservatives to disabuse them of their fantasy in 2012 (if not sooner).
They just have to convince 51% of the electorate.
I'm not (necessarily) saying that this is the harbinger of economic Armageddon, but it sure might be.
We have also had our share of Republican apologists as the economy has circled the drain since jobs, factories and Treasuries have been exported in trade deals.
Can you say “one term wonder”. I thought you could.
The problem is what happens when the GOP candidate for 2012 is a Romney RINO. Uggg! My brain is exploding. We need a conservative in 2012 and I have NO EXCPECTION in the established Rockefeller Republicans to give us that. We be gettin’ another RINO for ‘12.
No wonder so many Conservatives have quit voting GOP and vote 3rd party libertarian.
Peter Schiff, Gerald Celente and a number of youtube analysts warned in 2008 that the economy has not recovered since the crash and will go into double dip because one cannot print money and give it to bankers to grow the economy. If printing money was the way, every nation would do it in lieu of building factories and etc. The fed is running out of (printed) money to stimulate and may have triggered inflation to kill off the economy. Now what are they going to do. Stop printing money and crash the fake rally on Wall Street or keep printing and crash the economy from high/hyper inflation??? We should have bit the bullet and let the shareholders/bondholders take the losses from the banks that are too large to fail. Iceland did it, and had a very short severe collapse, and people with money swept in to buy assets at true rock bottom prices. Their economy is on the mend built on a solid reset financial foundation. Our banks are still propped up with fed money printing and their real estate losses are still on the books. No one in their right mind with money would invest or buy these banks as long as they real losses exist. The longer we wait to bite the bullet and tell bond/share holders too bad, the worst the reset will become because the losses/debt keep accumulating. See how the fed plays the game at the end of June when QE2 is suppose to end.
1.8% growth.
And that is the doctored cherry-picked number, after massive stimulus, massive deficits, QE-X.
We are in a depression folks. Those saying we are in a liquidity trap are dead on.
If you have a job, keep it. If you don’t, you are in my prayers. Lord help us.
Recovery Summer 2.0
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