"The bravest are surely those who have the clearest vision
of what is before them, glory and danger alike,
and yet notwithstanding, go out to meet it."~Thucydides
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How many Low-Information Voters (LIVs) will see this correction versus the ones who heard that the economy went up in that quarter? BTW, doesn't that mean we're in a recession?
"The bravest are surely those who have the clearest vision
of what is before them, glory and danger alike,
and yet notwithstanding, go out to meet it."~Thucydides
Please support Free Republic
click the pic
Hopey!! Changey!! (and all that...)
Recessions are generally defined as two consecutive quarters of negative economic growth, as measured by the seasonal adjusted quarter-on-quarter figures for real GDP.
That said, I expect the media to find a new definition very soon, that will be anything but what we are in.
I wonder if Washington Republicans have yet noticed that all their constituents are out of work?
One more quarter like this and we’re officially back to RECESSION.
So much for the recovery.
NOW is it officially a depression?
Only the artificial injection of “money” into the economy since the beginning of TARP and bank bailouts (”too big to fail”) have covered up the real dimensions of the disaster. This is Great Depression II, and we shall escape it only when the policies that were supposed to “fix” the problems are repealed, along with the great money holes that have been attached to the national economy, namely, Obamacare (just the biggest of them), and assorted other schemes that were supposed to “correct” the “inequities” of the market.
World War II managed to break the fever and malaise of the original Great Depression. Do we have to resort to huge numbers of men and materials directed at destroying the other side’s capabilities for making mischief, and in the process using up a vast number of resources at a most fearsome rate?
Well as ZeroHedge said, April is gonna be bad because the weather turned nice and people are outside and not shopping....
“but at least it wasn’t worse.”
This has been the mantra for more than five years as Obama and the Bolsheviks drive us further into poverty.
It doesn’t take an economist to explain the Obama economy; it merely takes an examination of any elementary history book and a leisurely perusal of the history of Russia in 1918.
A statistical “Ruh-roh” is called for, because don’t two consecutive contracting quarters define a recession’s onset?
Look for a lot of statistical massaging going forward to deny that conclusion!
Waiting with baited-breath for the revised GDP back to 1999 using Obama’s new methods.
No one (but the Obama myrmidons) believe the data coming from the government any longer.
That's it - a spell of bad weather!
I hope Obama hears about this soon on the news. He’s likely to be mad as hell about this. He’ll then surely focus on this like a laser. I’m sure this will be a recovery summer unless, of course, the Republicans cause gridlock and prevent another stimulus package full of shovel ready jobs.
