[no-to-illegals]

Somebody cooking the books again? Cooking the books looks to be SOP these days.

[Viennacon]

Obama has driven the country into a ditch.

[St_Thomas_Aquinas]

Nonsense. Truck production is meeting the five-year plan quota, as is beet production, thanks to the work of Comrade Obama and the Central Committee.

[familyop]

Gary Shilling is a financial analyst who’s written for Bloomberg, Forbes, The Wall Street Journal and more.

[Kartographer]

PING!!

[bolobaby]

If it is a recession, the court - jester media won’t let it be reported until after the GOP takes both houses in November.

Then we know whose fault it will be.

[SampleMan]

...which of course would mean that the US economy has officially entered a recession.

Actually, the standard definition of a recession is two consecutive quarters that AVERAGE less that 0%. That said, we are already in a technical recession.

[RckyRaCoCo]

So if it comes in around 4% or above it will be because of the unseasonably cooler weather(particularly Midwest/NE)that drove consumers out of the house and into the marketplace...and not necessarily Obama's policies.

...heh, with today's state-run media?

fat chance...prepare for the glorification oozing from the presstitutes!

[Plumres]

Got a name for this recession, the Obamacare slump!

[rollo tomasi]

Government spending includes = Part of the GDP

than

It's all just an illusion with $17 trillion/liabilities climbing. Eventually the House of Cards will implode as statisticians and economist withdraw in the fetal position with the word “unexpected” hauntingly repeated until the spin doctors come up with mass produced BS "figures" to reassure the populous.

[House Atreides]

Not stated in the article is that whatever GDP figure they come up with, it is OVERSTATED. The Bureau of Labor Statistics (BLS), in arriving at their FINAL GDP estimates each quarter, ADJUSTS them by the amount of inflation that occurred during the period. For example, if an UNADJUSTED GDP growth figure for a period is at a 3% rate and inflation during the period is measured at a 1% rate, the ADJUSTED (i.e., constant dollar value) GDP growth rate is 2%. However, if the REAL inflation rate for the period would be 4% at an annual rate, the GDP ADJUSTED (again, in constant dollar values) growth rate would be MINUS 1%. In other words the economy would be contracting instead of expanding.

Many folks believe that the BLS is intentionally understating the rate of inflation. This serves the dual purpose of keeping costs down for inflation adjusted expenditures (e.g., Social Security, military retirement payments) plus painting an BOGUS overly optimistic figure for the growth of the economy.

Many folks also believe that the pre-adjustment GDP figures are also falsely measured to appear larger than they actually are as discussed in the article that is the subject of this thread.

In other words, things are substantially WORSE than our government is telling us.

[equalator]

the answer to this is that we need more mexicans

[upchuck]

I’ve heard Herman Cain say on his radio program many times:

That 17 BILLION in debt can never be repaid and it’s never going away.

Amen.

[RayChuang88]

In the end, the biggest problem is that the new Obamacare mandates starting this year (2014) are slowing down the economy because companies--still just unsure what those mandates mean--are not willing to hire on a larger scale until we get clarity on the mandates.

[Chgogal]

Zero Hedge is always wrong, right?

[Iron Munro]

[Mad Dawgg]

IIRC two quarters of negative GDP = [THIS POST HAS BEEN REDACTED BY THE NSA]

[ckilmer]

imho, oil/gas related economic activity will keep the economy from going negative. But that’s all happening mid continent —away from the coasts.