Posted on 05/29/2015 5:47:11 AM PDT by tellw
WASHINGTON (AP) -- The U.S. economy went into reverse in the first three months of this year as a severe winter and a widening trade deficit took a harsher toll than initially estimated. The Commerce Department says the overall economy as measured by the gross domestic product contracted at an annual rate of 0.7 percent in the January-March period. The revised figure, even weaker than the government's initial estimate of a 0.2 percent growth rate, reflects a bigger trade gap and slower consumer spending. It marked the first decline since a 2.1 percent contraction in the first three months of 2014, a slump that was also blamed on winter weather. Economists expect a rebound in the current quarter to growth of around 2 percent and expect the economy to strengthen later this year.
(Excerpt) Read more at hosted.ap.org ...
Keep up that negative tone, and you’re on double secret probation, young man!
Pravda had nothing on our news media.
Bullish! Remember, buy all bad news. /s
No interest rate rise
More QE coming
More pranks and shenanigans from the Fed to prop the market
Our genius president has such great innovative plans to run the economy. It is so sad that the economy does not respond and do its part to bring this country out of our malaise./s
Prepare Josh Earnest with talking points. “We expect these ups and downs in the economy. The fact is, that under this President’s leadership....”
Or
“Because this Congress hasn’t passed any of the President’s economic reforms we can expect a weaker recovery.”
You misspelled ruin.
Pay no attention to this. The economic numbers will improve greatly as we get closer to the 2016 election.
Focus should instead be placed on getting the tens of millions of disaffected conservative voters back to the voting booths. That entails fighting for the Constitution, eliminating funding for Obamacare and Amnesty, defending Marriage, rooting out promiscuity and perversity, impeaching Obama, and getting into Hillary’s face.
Of course, the GOPe will not do this. Instead, GOPe leaders focus on such things as making million dollar payoffs in small bills to cover up “bad acts”.
“The winter was very very cold...and there was... shrinkage.” -George Costanza
Since the next quarter being down would qualify us as in recession, Barry’s bean counters are certain not to let that happen.
But, it really was a stifling winter, at least here in the Northeast. Let’s hope the slow trading doesn’t lead to them killing the strong dollar.
You misspelled ruin.
The /s takes that into consideration. Rome was run into the dirt by poor leadership.
Bush / Haliburton / Koch Brothers / Fox News / Racism
Take your pick.
The automobile business has been good. Great even. Thank goodness. Could just be pent up demand. Sooner or later everyone has to have a car. Or truck. Well, almost everybody.
People are driving their vehicles longer before trading.
“Economists expect a rebound in the current quarter to growth of around 2 percent and expect the economy to strengthen later this year.”
Lady in the cafeteria? Janitor? Biden?
Who are these ‘economists’?
1984: “As short a time ago as February, the Ministry of Plenty had issued a promise (a ‘categorical pledge’ were the official words) that there would be no reduction of the chocolate ration during 1984. Actually, as Winston was aware, the chocolate ration was to be reduced from thirty grammes to twenty at the end of the present week. All that was needed was to substitute for the original promise a warning that it would probably be necessary to reduce the ration at some time in April.”
Something tells me this “winter” is going to last into July.
The money multiplier is only .75. That means all of the bogus stuff that's being printed has no long term effect on the economy.
The fix: increase interest rates.
I am not trained in Economics. Correct me where my hypothesis makes no sense, please.
Yep. What they say doesn't matter. It's what they do that tells the real story.
This country is in big trouble, yet Washington keeps flushing money down the toilet anyway. People have simply stopped working for a living because they don't have to, and the politicians can't do anything about it now. They're just going to ride along until eventually they get to hop on their tax payer funded private jets and flee to their tax payer funded private islands, or head for their tax payer funded bunkers to ride it out.
“Winter weather?? But...I thought they told us warmest EVER?”
Not to worry. The Global Climate Alarmists are flexible. If global warming doesn’t kill off the economy, the record cold will. Any excuse will do to protect the Zero.
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