You Know The Drill
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Hey! FReepers!
Help Fill The Tank!
How About It? Huh?
It Ain't Askin' Too Much
Ya Know....
Posted on 04/30/2010 2:07:22 PM PDT by RobinMasters
Er, come again? The White House crowed endlessly about the 2009Q4 annualized GDP growth rate of 5.7% in January, even after most of it was shown to come from inventory adjustments.
Now Barack Obama wants to treat today’s announcement of a 3.2% annualized GDP growth rate as a continuing improvement, when (a) it failed to meet analyst expectations of 3.5%, and (b) it’s a significant drop from the last report.
Don’t worry, though, because as Obama explains in this clip provided by Greg Hengler at Townhall, he has a different measure of progress:
The economy that was losing jobs a year ago is creating jobs today. After the single biggest economic crisis in our lifetimes, we’re heading in the right direction. We’re moving forward. Our economy is stronger — that economic heartbeat is growing stronger. But I measure progress by a different pulse.
(Excerpt) Read more at hotair.com ...
Ping
This guy is just a plain idiot!
You Know The Drill
Click the Pic
Help Fill The Tank!
How About It? Huh?
It Ain't Askin' Too Much
Ya Know....
But if the last number was due to inventory adjustment, and this one was due to stronger consumption across the board, isn’t that another positive? I sort of feel bad for the people rooting for a bad economy just to hurt Obama.
Their influence is growing daily...Obama is excited!
Maybe he thinks Gross Domestic Product is like “Gross” or “Icky”. President Wee Wee doesn’t do Balance Sheets. Oh did I say “sheets”. That has racist connotations that bring up images of accountants marauding through the south during Reconstruction.
We live in a world where a drop in the increase of something bad is good and a drop in the the increase of something good is also good.
Your ignorance of the business environment is plain to see for anyone that owns and operates their own business. NOTHING is getting better... and wholesale inflation is rampant.
LLS
Obama translation: “Why the hell should I care. I got mine!”
We’ve been getting less bang for the buck, so to speak, from gov spending for decades. I believe it is now well below one to one. In others words we spend a buck to get 90 cents back.
So, it wouldn’t surprise me that the government sucking up, and then distributing via spending on quote ‘investments’, would result in a lower GDP. ( I’m sure you’ve seen so called stimulus investments in your area, that are totally wasteful and non productive ).
Government is a poor investor. As evidence, hows that forty year Urban Renewal going?
They can not fix Detroit. They can not ‘fix’ the economy. They don’t have the information, the time, the incentives.
Every dollar they spend is taken out of way more likely productive hands and put into the hands of hacks. Bush/Obama should of done massive tax cuts, and left what money was available in the hands, and thinking of those that made the money.
So the Stimulus CREATED more unemployment. Makes sense. You have to tax two people out of work to create one government sponsored job.
Good question. The data is too new to really know. I’ve read that outside military spending, that spending has been on cars, and software.
Cars wear out and we have been off the car buying drill for a few years. I don’t know if these are cash for clunker sales.
Tax receipts are still down, firmly. Also, I don’t know if the States will get stimulus money for this coming budgets. I know Massachusetts is looking at a perfect storm of low sales tax and others, no FedGov bailout, empty rainy day fund, and basically a big fat deficit. ( However Boston did give their firefighters a 18% retro active pay hike if they took drug and booze tests. You CDL truck drivers and other civilians who have to take them..out of luck. )
I know someone trying to get some dump commercial building riped down, and a new, smaller, attractive one built. Basically there is no problem except it has taken him, so far, two years. The first year they couldn’t decide if he should sewer or septic tank. So they made him do all the surveys for septic, about 50k, and then said later hook up to town sewer. And that’s about where he is now.
Why?
Because there is so little for the various town/county bureaucrats to do, they are all featherbedding this to death to justify their jobs, when in fact there isn’t much if anything to do.
Meanwhile he pays property tax on un usable buildings and all his tradesmen friends are starving for work, and he can not get his property making money.
The government guys paychecks come in every two weeks, rain or shine. They are in their own self interest motivated to drag this out as long as they can.
Of course he has a different measure. His measure is based on America’s failure and destruction rate under his “”leadership””. He’s doing pretty damned good by THAT measure.
The list, ping
Wait until these idiots impose a VAT. It’s a tax on GDP that will castrate our productivity.
Obama is just the front man. These folks are clueless about what is causing the economic downturn.
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