Somebody slap that smile off his face.
Posted on 07/27/2012 6:16:55 AM PDT by kristinn
The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.
The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.
Growth at or below 2 percent isn't enough to lower the unemployment rate, which was 8.2 percent last month. And most economists don't expect growth to pick up much in the second half of the year. Europe's financial crisis and a looming budget crisis in the U.S. are expected to slow business investment further.
SNIP
The Commerce Department also revised its growth estimates for the past three years. Those revisions showed that the economy contracted 3.1 percent in 2009, slightly less than the 3.5 percent previously reported. Growth in 2010 was put at 2.4 percent, down from 3 percent, with growth in 2011 at 1.8 percent instead of 1.7 percent.
The U.S. economy has never been so sluggish this long into a recovery. The Great Recession officially ended in June 2009.
(Excerpt) Read more at chicagotribune.com ...
More Monopoly money instead of creating real wealth. Yeah, that ought to work.
Must be nobody offered somebody no hep!
Sluggish? Without inflation there would be no growth at all!
Great chart! Thanks!
There are a lot of things now that are at or near 1 to 2 %, IMHO.
For example: 10 year Govt. Bonds, Inflation rate, GDP, Federal money supply, etc.
By cursory inspection, all things added together is approximately Zero, flat, stagnant.
Your blue line shows that about 1 % GDP loss per decade has been occurring since 1985.
Thus, we need to be thinking and writing about the cause of this long term trend as well as the sorry economics of Obamanation.
I have lived it. Have seen a sharp decline in sales since April. Each month is slower. July has been the worst. I think if we aren’t in recession now we will be by the 4th quarter. I personally feel that obama is toast in this election.
Somebody slap that smile off his face.
Fixed.
What type of business are you in? Mine is not reflective of the economic trends, and my revenues are longer term contracts, so I do not see month to month swings.
The folks who are getting the free stuff don’t like the folks who are paying for the free stuff, because the folks who are paying for the free stuff can no longer afford to pay for both the free stuff and their own stuff.
And the folks who are getting the free stuff want even more free stuff on top of the free stuff they are already getting!
“And most economists don’t expect growth to pick up much in the second half of the year. Europe’s financial crisis and a looming budget crisis in the U.S. are expected to slow business investment further. “
Uh, not to mention that Marxists are in charge of the economy, so no one in their right mind is going to risk investing in U.S. economic growth. Even if a new business were to succeed in this hostile business environment, any profits would simply be stolen and redistributed to the other folks who didn’t help build that business. Best to simply hunker down, try to hold on to whatever pittance that hasn’t yet been stolen by the Marxists and hope the voters have enough sense to change things by un-electing the Marxists in November
All I would like is a Thank YOU!
And they wonder why people like me hate their guts!
“Each month is slower. July has been the worst. I think if we aren’t in recession now we will be by the 4th quarter. I personally feel that obama is toast in this election.”
I’m really starting to feel some optimism now; the longer this goes on the less an “October surprise” will work on ignorant American voters. It will be rightly seen as a gimmick to save a disastrous presidency by an incompetent semi-literate affirmative-action token.
Shadow statistics is a great site. I think the manipulation of the GDP figures by understating inflation began with Johnson.
Could it be Obama's policies DID NOT WORK?
God help us, if McCain was in the White House now with these results, there would be riots in the streets. The Democrat screaming faces would be raising hell up and down the dial.
Just look at Clinton's "full employment" news coverage vs. Bush's "worst economy since Herbert Hoover" for the SAME unemployment rate.
You should send this to Rush, Drudge etc.
Because of inflation you can see there is just great decline not growth. We are in a depression.
So just keep printing more money and consumers spend that and use inflation and call that growth. And the media doesn't point this out so the will get elected again.So when this monopoly money is worth 50% less then they say growth is 200% . these lying morons the media have no shame and they fool the sheep into voting.
Also if you add population growth , take away government spending and borrowing and printing money , welfare etc. you see we are not producing but in a great depression.
Also what they call the economy or GDP, almost all of that is consumer spending and then they say government spending is also part of GDP . And it's all in dollars. NO the economy should be what Americans actually produce in constant dollars not inflated dollars and adjusted for population growth to see if economy is really growing.
What type of business are you in? Mine is not reflective of the economic trends, and my revenues are longer term contracts, so I do not see month to month swings.
Online retailing. I know that summer is traditionally a slower time but I believe it is more than that. We have had lots of lookers but no one is pulling the trigger. I sense a change since the springtime. Of course this is anecdotal from one online shop but I do sense a change in that people seem more inclined to just look and hold onto their money.
Barack Hussein Obama..Um Um Um. EPIC FAIL FOR AMERICA..
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