Posted on 01/31/2012 4:41:07 AM PST by SeekAndFind
The economy did horribly in the last three months of 2011.
I know that’s not what you’ve been hearing. During this past Christmas season you were first told that consumers were dying to get to the malls and shop. That turned out to be true — for a couple of days at least, while stores were desperately discounting everything they had.
Then you were told that manufacturers were having a bang-up month and that automakers were selling cars like it was the old days.
And Apple — who could forget Apple? — was selling iAnythings like they were some sort of lifesaving device and every American was in the hospital emergency room.
Last Friday the Commerce Department released its tally of business conditions in October, November and December. And it was, well, quite disappointing if you actually know what to look at.
The headline number you saw on the evening news that night and in the newspapers on Saturday was this: the nation’s gross domestic product rose at a 2.8 percent annual rate in the 2011 fourth quarter, which was better than the 1.8 percent growth in the July-September period. In the first place, 2.8 percent isn’t a good rate of growth for any year.
Take out your calculator, divide 2.8 percent by the four quarters of the year, and you’ll see that fourth-quarter growth — even if you take these numbers at face value — was just 0.7 percent.
Tepid. Lukewarm. Disappointing. Not what should be happening four years into a recession (oh, right, that’s supposed to be over) after the Federal Reserve has used all its tricks and our elected officials have bankrupted the country.
But it gets worse.
(Excerpt) Read more at nypost.com ...
The rest of the article is interesting in how they cooked the books using unrealistic inflation numbers.... To do this Government corruption at the highest levels...
Bump
C'mon, 1.7%? Even Jimmy Carter did better than that...
That stimulus and investment in green tech is really paying off. All hail Obama.
Can't wait to hear the excuses -- oil spills, volcanoes, earthquakes, headwinds, etc...
The real GDP increase is more than likely, negative.
Countdown until Zer0 leaves Office: 355 days as of January 31, 2012.
Yes it is true. They were removed due to their volatility some time ago.
When will Americans reach the satuation point for being betrayed, exploited, insulted and criminally defrauded?
And Mittens tells us, Of course the economy is getting better.
I missed buying the lifesaving ianything. Any reviews would be helpful! Seriously, good reinforcement on erroneous trust in government to tell the truth. The Apple comment made me laugh.
This is very bad news for people that think we can grow our way out of debt. Add to this the EU cratering and the news is downright terrible for anyone hoping for growth, oh one other thing China economy is slowing too. Meanwhile another 1.2 trillion in debt is added to our books. The slow motion train wreck continues.
absolutely so
and by this institutionalized deception,what terrible damage the press is contributing to destroying the shreds of trust people may still have in their government
and all to prop up the white liberals’ dream president, an embarrassing failure in every aspect
It is true, core inflation, the figures used by media does not include food or energy.
It CAN’T be counting gas which has gone up about .50 in the past few weeks
AAA predicts gas is headed ot $4 a gallon by late spring
and the first shots have yet to be fired in the Strait of Hormuz
oh, that is why the GOP establishment hysterically insists we need a businessman (Willard) for our next President
Herbert Hoover was a businessman
Bookmark
True. It's sort of like how people who have given up hope of finding a job aren't unemployed any more.
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