Posted on 04/30/2014 3:46:15 PM PDT by Red in Blue PA
The U.S. economy stalled in the first three months of 2014, but don't panic yet as it's probably just the winter weather effect.
Gross domestic product, the broadest measure of economic activity, grew at a 0.1% annual pace in the first quarter, the U.S. Bureau of Economic Analysis reported Wednesday.
That's brutally slow, even by sluggish post-recession standards. Since the Great Recession ended in June 2009, the economy has been growing at a rate of about 2% to 3% per year.
(Excerpt) Read more at money.cnn.com ...
Headline: Another Quarter of Economic Growth
I view Obama extremely dimly in all this.
That said, where is the moral outrage from at least the House? Crickets!
Does any one of this bunch have a problem with this?
What bill has Boehner rammed through?
Let the Dems take ownership. Pass something then ride them over it.
Not this crew...
And -- my perennial GDP warning -- never forget that the GDP, flawed and inaccurate as it probably is, is multiplied by four to pretend to "annualize" it.
So, the real news is that the economy [well, spending] "grew" by 0.025% in the first quarter. Less than a rounding error and when adjusted by the fake inflation numbers the government uses, shows that we are, in fact, not growing at all.
Not that anyone at FR thought we were.
The left and their propagandists are just unserious, except they are dead serious about crashing this country into the ground
And -- my perennial GDP warning -- never forget that the GDP, flawed and inaccurate as it probably is, is multiplied by four to pretend to "annualize" it.
So, the real news is that the economy [well, spending] "grew" by 0.025% in the first quarter. Less than a rounding error and when adjusted by the fake inflation numbers the government uses, shows that we are, in fact, not growing at all.
Not that anyone at FR thought we were.
Since the dumBO regime released this number, it is really -10.1%.
Obama has spent five years, jiggling the throttle,
now we are at stall speed and the economic engine
is flamed out, there is only one direction to go.
They will be when the Dollar loses reserve currency status. It’ll be too late by then, but they’ll notice it.
With bad news like this, the DOW is setting records. If the economy totally tanked the DOW would hit a million!
because of global warming doncha know...
Don’t we have inflation picking up, too?
I feel another “Recovery Summer” coming on from the 0bama regime. What does this make? Four, five?
Meanwhile, in Bristol Tennessee......
A union company closes rather than bow to union demands
” SPARTANBURG, S.C., April 29, 2014 (GLOBE NEWSWIRE) — Synalloy Corporation (SYNL), a growth oriented company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon piping systems, announces the planned closure of the Bristol Fabrication unit of Synalloy Fabrication, LLC (”Bristol Fab”). The Company delivered WARN Notices to employees, union representatives and local elected officials on April 28th. Bristol Fab’s closure is currently scheduled for June 27, 2014
The Fed actually wants more inflation - If I recall correctly they claim that a 2% inflation rate is ideal to grow the economy. What 2% inflastion actually is ideal for is inflating away the hopeless foreign debt the USA has accrued, by essentially stealing from everyone who uses dollars as a store of value.
Imagine if you discovered that someone was removing $2.00 for every $100 you had in the bank every year. That’s essentially what inflation does. Prior to the creation of the Fed in 1913 the US dollar tended to increase in value over time.
We are all being looted.
0.1% is below stall speed. You need to grow 2.5% a year just to keep up with population growth.
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You need 3% to keep up with (stated) inflation and 15% to keep up with food/energy/housing inflation this year...luckily those numbers are either ignored or fudged so we’re doing just fine.
Winter weather? A harsh winter? I thought we had global warming?
Control + P
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