Posted on 04/29/2015 5:54:04 AM PDT by SoFloFreeper
US economic growth braked more sharply than expected....
gross domestic product expanded at only at 0.2 percent annual rate....
(Excerpt) Read more at cnbc.com ...
Anyone who expects a Marxist economy to perform ‘well’ is deluding himsef.
And, at this point, there can be no doubt that Obama is a Marxist.
Gotta stop this ‘weather’ stuff so we can get on with the ‘recovery’.
how “unexpected”
*Drink* !
Hey, it’s 50 degrees in North Texas this morning...in late April.
FUNNY!
Well.. blaming Bush wasn’t doing the trick anymore, so now weather is at fault!
ROFL!
Yeah, and these low energy prices are killing us.
Why The US Should Worry About Oil Sector Jobs
http://oilprice.com/Energy/Crude-Oil/Why-The-US-Should-Worry-About-Oil-Sector-Jobs.html
28 April 2015
Analysts are starting to look beyond the boost to the economy from low oil prices and see the damage that is being done by worker layoffs, slowing business, and falling home prices in oil producing states. Indeed, one recent estimate suggested that up to four jobs could ultimately disappear for every one job lost in the oil sector.
There is little doubt that as oil prices fall, some people working in that sector will lose their jobs. What is less clear is the impact those job losses will have on other sectors of the economy. Since one person’s spending is another person’s income, as people lose their jobs in the oil patch, that should mean less spending at the local grocery store, restaurants, etc. Now of course, this fall in spending is partially offset by a rise in incomes from the fall of gas prices. But that gas price benefit is spread out all across the country, whereas the damage from the fall in oil prices is localized to certain areas with a lot of oil.
The MSM is starting to sound like Pravda did forty years ago, when they “reported” about how the drought had ruined the wheat crop. That ‘drought’ lasted for the better part of fifty years.
This current weather related stagnation has so far lasted 7.
I have fond recollections of the Reagan years when we had none of these doggone weather problems.
Employers cut jobs in 31 US states as growth slows, oil and gas industries take hit
http://www.usnews.com/news/business/articles/2015/04/21/unemployment-falls-in-just-23-us-states-as-hiring-slows
April 21, 2015
The biggest job cuts occurred in states with large oil and gas drilling, led by Texas, which lost 25,400 jobs, and followed by Oklahoma, which cut 12,900. Pennsylvania lost 12,700, the third largest loss. A sharp fall in oil prices since last June has caused oil and gas companies to cut back on drilling. Pennsylvania has benefited in recent years from the discovery of shale gas fields in the state.
Nationwide, employers added just 126,000 jobs in March, the fewest in 15 months and snapping a year-long streak of monthly gains above 200,000. The unemployment rate remained 5.5 percent.
Of course, the 0.2% growth will be adjusted down over the next 2 to 3 months.
The spokesperson for former President Bush Weather was unavailable for comment.
So, in effect, climate change is standing in the way of economic growth. Perfect!
Weather seems to be a big part of the leftist paradigm.
They think they can control the weather.
They think they can extract enough energy from the weather to run the economy.
And when they economy performs exactly as we’d expect a Marxist economy to perform, they again blame the weather.
Next month this anemic “growth” will be revised downward.
5.56mm
But with any revision, they’ll avoid a negative number at all costs.
This does not compute.
Actually, I expected this. I think the economy actually CONTRACTED in the first quarter. The numbers were then fudged to make it appear to have slight growth. The contraction will then be stuffed into this quarter, making it worse than expected.
Then, the sycophants hope that there will be growth in the third quarter. This manipulation will hide the fact that there is a recession right now (two quarters, or more consecutively, of contraction). If you look at the record of the Obama economy, there have been two other times where there was just one quarter of contraction. Had the numbers had not been thus fudged, this would be the THIRD Obama recession.
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