Posted on 04/29/2015 10:02:50 AM PDT by tcrlaf
And so the Atlanta Fed, whose "shocking" Q1 GDP prediction Zero Hedge first laid out nearly 2 months ago, with its Q1 GDP 0.1% forecast was spot on. Moments ago the BEA reported that Q1 GDP was far worse than almost everyone had expected, and tumbled from a 2.2% annualized growth rate at the end of 2014 to just 0.2%, in a rerun of last year when it too "snowed" in the winter. This was well below the Wall Street consensus of a print above 1.0%.
n other words, in the quarter in which the S&P rose to unseen highs, the economy ground to a near halt.
Only this time it wasn't the snow, as the main reason for the plunge in economic growth was not only personal consumption which was cut by more than 50% from last quarter, tumbling to just 1.31%, but fixed investment, i.e., CapEx, which subtracting 0.40% from the bottom line GDP number, was the lowest print since 2009!
(Excerpt) Read more at zerohedge.com ...
Hope, Change, and all that crap.
A trucker friend of mine noted yesterday that trucking loads to and from the Midwest have “F-in Collapsed”
Unexpected</s>
All hail the Obama economy.
and it hasn’t even been downgraded to the true negative number yet....
Hey, Folkies, “How’s that Obama “Hope & Change” workin’ out for ya?”. It could be worse...you could be an African-American that during the “Obama POTUS Terms” went from low income to 100% poverty!!! Talk about being thrown under the bus!!!
Truly amazing how the numbers start falling right when the repubs take over the senate.
Couldn’t possibly be phony numbers before the election.
Someone should superimpose QE 1, 2 and 3 over the GDP chart since 2008, I think you’ll find they match up...QE 4 is coming soon to a theater near you...and it will have to be the size of QE 1,2,3, combined....
And don't forget "Recovery Summer VII."
Obama is incrediblyhappy.
He is excelling damagig the economy.
His muslim brothers are rushing to build a nuke to use on us.
He is using race to gin up takeover of the us by fedgov and distracting us off his muslim brothers as they work to emp america.
does that mean we should money in the stock market?
I use those truckers. And I buy a bunch of stuff. In recent months I’ve started having trouble buying things that would be pretty much normal. Spot shortages of steel have happened several times. I’d have to say that if the X-country truckers are running light that the problem starts for me on the sources side. But that tells me there is a lot of cutting back going on. aaaannnndd I guess that’s what the above charts say even tho demand for my stuff hasn’t lessened in the slightest.
Remember the new GDP is x - 3 percent ....so Q1 is -2.8
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