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Bad Economic News: Q2 GDP Slumps to 1.3%, Durable Goods Orders Crash -13.2%
Confounded Interest ^ | 09/27/2012 | Anthony B. Sanders

Posted on 09/27/2012 6:34:45 AM PDT by whitedog57

Today the economic news was mostly bad. Q2 GDP was revealed to be only 1.3% rather than the expected 1.7%. Now, THAT is a major swing and a miss!

Durable goods orders fell -13.2% in August. Another big swing and a miss.

At least initial jobless claims fell to 359,000 from an upwardly revised figure of 385,000. The expectation was for 375,000 initial jobless claims. But claims of this size is still terrible given that the recession ended in June 2009.

Note that the Carter/Reagan recessions were actually two recessions. So the combination of the two Carter/Reagan recessions was 22 months. This recent recession ended after 18 months.

How can housing make a serious comeback under these conditions?

(Excerpt) Read more at confoundedinterest.wordpress.com ...


TOPICS: Business/Economy; Government; Politics
KEYWORDS: durablegoods; durables; economy; economynumbers; gdp; obama; unemployment
Stay the course????????????????????
1 posted on 09/27/2012 6:34:50 AM PDT by whitedog57
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To: whitedog57

Post the whole thing here?


2 posted on 09/27/2012 6:39:28 AM PDT by OKSooner
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To: whitedog57

Ya but, Obama’s gunna tax the rich, those SOB’s... /sarc ...


3 posted on 09/27/2012 6:40:16 AM PDT by dps.inspect (rage against the Obama machine...)
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To: whitedog57

Obama just wants to fool enough idiot voters with ‘improving economy’ and ‘low unemployment’ for seven more weeks to finish destroying America.


4 posted on 09/27/2012 6:44:33 AM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: F15Eagle

Six weeks I meant to say......


5 posted on 09/27/2012 6:50:58 AM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: whitedog57

Its HIS voters who are out of jobs and who can’t buy those durable goods.

He can LIE about it all he wants to but folks are well aware its just lies.

Leastways I hope they do. Maybe if you have food stamps that let you buy anything so you don’t feel hunger and are happy suriving on unemployment bennies you can roll over and go back to sleep.


6 posted on 09/27/2012 6:52:15 AM PDT by Adder (No Mo BO)
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To: whitedog57
And don't forget that American GDP figures are multiplied by four to "annualize" them. The true figure for the quarter was .33% [that's .0033 growth] which doesn't even rise to the standard of a rounding error.

GDP is a worthless figure to begin with. Increased consumer spending does not cause economic growth. But when it's this small, it's beyond ridiculous.

7 posted on 09/27/2012 9:30:23 AM PDT by BfloGuy (Without economic freedom, no other form of freedom can have material meaning.)
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