CNN Money Reaction to 2.9% GDP Drop: 'This Recovery Is Underway'

NewsBusters ^ | June 25, 2014 | P.J. Gladnick

[PJ-Comix]

Hooray! The Gross Domestic Product shrank by 2.9% in the first quarter of the year. "This recovery is underway."

Your humble correspondent was very careful to put the previous sentence in quotes because I don't want you to think I've taken leave of my senses. This amazing conclusion comes to us courtesy of CNN Money spinmeister Annalyn Kurtz who starts out on a rather gloomy note but manages to spin her way into economic joy:

[WILLIALAL]

“DOW is up 60 on this great news!”

That is because they know this will stop any talk of increasing interest rates and maybe curtail QE reductions.

[kcvl]

Annalyn Kurtz

[Jack Hammer]

“This recovery is underway.”

Been hearing this for six years now, and every year the economy is worse than the year previous.

Obama’s Ministry of Propaganda really has got to invent a new lie.

[kcvl]

Annalyn Kurtz Verified account

@AnnalynKurtz Wow. @CEAChair Jason Furman says these GDP revisions (from March to June) represent BEA’s largest GDP revision in about 30 years

Annalyn Kurtz @AnnalynKurtz · 4h

Don’t forget: All these GDP numbers are going to be revised again next month, when BEA makes revisions back to 1999.

Annalyn Kurtz @AnnalynKurtz · 4h

Woah. The U.S. economy shrank at a 2.9% annual pace in the first quarter

https://twitter.com/AnnalynKurtz

[kcvl]

Annalyn Kurtz @AnnalynKurtz · Jun 24

Unemployment could reach 5.8% by end of this year, 5.6% by end of 2015, forecasts @PhiladelphiaFed President Charles Plosser

https://twitter.com/AnnalynKurtz

[kcvl]

Annalyn Kurtz

CNN Reports ‘U.S. Economy Shrinks, But It’s Not a Big Deal’

By Laura Flint | May 29, 2014 | 13:05

Last month, CNN reported that the U.S. Bureau of Economic Analysis measured a decrease in the rate of growth of U.S. gross domestic product (GDP) to the tune of 0.1 percent. But relax, they insisted, it was merely due to the “winter weather effect.”

Fast forward to today and the Bureau’s downward revision of GDP growth. The feds now tell us the economy contracted one percent in the first quarter. Yes, this is “the first downturn since 2011,” CNNMoney noted but, hey, “it’s not a big deal,” according to the network’s dismissive headline.

http://newsbusters.org/people-and-organizations/annalyn-kurtz#ixzz35fXf4ct0

[Cincinatus]

Woah. The U.S. economy shrank at a 2.9% annual pace in the first quarter

Woah! Dude! It's like,... You know?

[Cementjungle]

Contrast this with CNN Money's report on the 2005 1Q GDP report where the GDP INCREASED by an annual rate of 3.1%:

"NEW YORK (CNN/Money) - The nation's economy was hit by both slower growth and higher prices in the first quarter, a government report showed Thursday, presenting both economists and investors with worrisome signs about future economic stength. "

link

[bray]

Wasn’t that the quarter that was hailed as a .0000001% growth?

Pray America wakes up

[kcvl]

“Woah! Dude! It's like,... You know?”

It is no wonder why this country is in the mess it is in!
With a bunch of arrogant, elitist children trying to run the country while Obama the ‘I WON’ dude doing anything but working at his job (Mr. Harvard, the Constitutional 'teacher' hasn't a clue).

[GeronL]

we are probably heading into a depression

[GeronL]

if they wanted to keep breathing they were

[FourtySeven]

It’s the REAL summer of recovery this time! Wheeeeeee!

[FourtySeven]

Obama the ‘I WON’ dude doing anything but working at his job (Mr. Harvard, the Constitutional 'teacher' hasn't a clue).

What are you, racist? < /sarc >

[FourtySeven]

By the way, has ANYONE from Harvard come forward to say they were indeed taught by Professor Obama there?

[newnhdad]

good thing Romney is not president because a drop of 2.9% and a record low labor participation rate along with a U6 north of 12% and record low personal income levels might be bad news.. But for Obama, it’s great.

[kcvl]

"What are you, racist? < /sarc >"

Hell yes, according to liberals. But, who cares what they call me!

[kcvl]

“By the way, has ANYONE from Harvard come forward to say they were indeed taught by Professor Obama there?”

I haven’t heard anyone say they even saw him there.

[FourtySeven]

It’s amazing! Don’t you think there’d be at least ONE attention whore at Harvard who would have said by now, just to get his ugly face on TeeVee, “I was a classmate of Obama’s!”, or “I was taught by the future first black president”.

JUST to get on TeeVee, no other reason. And a willing lapdog media outlet more than willing to show such fluff to “humanize” him.

Forget about disproving “conspiracy theories” about him, but JUST to get on TeeVee, and just to get ratings. How many times have we seen such whores in cases involving people of far less import? Like the neighbors next door to serial killers, who can always be found to say, “he was such a nice, quiet man”.

That fact alone should prove to anyone reasonable there’s something fishy about the man. Forget about missing transcripts and birth certificates.

[kcvl]

Exactly!