5 reasons why the shrinking GDP isn't a reason to panic (Spin Cycle)

Vox.com ^ | 06/25/14 | Danielle Kurtzleben

[nhwingut]

The US GDP fell at an annual rate of 2.9 percent in the first quarter, its slowest rate of growth since 2009, in the middle of the recession. And yet no one seems to mind. Stock markets didn't plummet, and no one is forecasting yet another recession. A shrinking GDP is never great news, of course, but here are a few reasons why economists and markets are shaking off the biggest economic contraction in more than five years.

[nhwingut]

All day comedy... Some of today's headlines.

Yahoo: We Just Got A Horrible GDP Report, And Here's Why You Shouldn't Care

CNN: 3 reasons not to freak out about -2.9% GDP

AP: U.S. economy collapses in first quarter, but growing again

[Viennacon]

Imagine this media during the Great Depression. haha

[Army Air Corps]

“Bread lines promote exercise and socialization!”

[ScottinVA]

The US GDP fell at an annual rate of 2.9 percent in the first quarter, its slowest rate of growth since 2009

Only in the weasel wording of the liberal "media" would a 2.9 percent contraction be termed a "rate of growth."

[fhayek]

Oh, what’s the big deal? They do the same thing when a Republican is president. (sarcasmaroony)

[Lorianne]

Yep. We’re definitely getting the Maytag treatment from the media.

[txrefugee]

Imagine if this were during George Bush’s term. They’d have been shrieking 24/7 that we were in a Depression.

[Lorianne]

negative rate of growth ... which is why they won’t use that term.

[Lorianne]

negative rate of growth ... which is why they won’t use that term.

[SampleMan]

NEGATIVE IS POSITIVE
WAR IS PEACE
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH

[AZLiberty]

I like Zero Hedge’s interpretation of this. They detected some accounting sleight-of-hand at play.

Since the administration knew this was going to be a bad quarter, they delayed a large positive accounting entry until the second quarter. This makes the first quarter look “worse than expected” but gives them the opportunity to post good news going into the election this fall.

[blueunicorn6]

This is the best Summer I’ve had since I was a kid. The Democrat news media is stumbling around like a bunch of drunks trying to play hopscotch.

[Stand W]

I swear that reporters for Pravda and Izvestia were not as shameless as these hacks. At least in the Soviet Union, they would actually be shot for not toeing the party line. Here, they don’t get invited to cocktail parties.

[4Liberty]

here's our only "growth"

[The Great RJ]

Orwellian doublethink...War is Peace, Freedom is Slavery and now a negative GDP is prosperity.

[montag813]

The housing market is booming again. This can’t be denied. It is silly to pretend we are in a huge recession. We’re not. But understand millions of jobs lost will never come back. Ever. They will be/are being replace(d) with automation and/or illegal aliens. THOSE people are in deep trouble.

[Repealthe17thAmendment]

I like how one of the reasons given for the negative growth was the cold weather.

Doesn't that mean that global warming will be good for the economy?

[Billthedrill]

When polar vortexes and multiple feet of snow keep people stuck at home, they just can't get out to buy groceries or see the doctor.

Umm...didn't I just read that this was the warmest spring in recorded history? What happened to that?

[JRios1968]

[ExSES]

Why yes grasshopper this appears to be a COW PATTY , but once it is dried and painted with a shiny enamel...., you will behold it as a gold artifact and be happy!