Skip to comments.U.S. 1Q GDP Growth Revised Down to 1.9%
Posted on 05/31/2012 6:29:23 AM PDT by scooby321
U.S. economic growth was a bit slower than initially thought in the first quarter as businesses restocked shelves at a moderate pace and government spending declined sharply.
(Excerpt) Read more at foxbusiness.com ...
I heard Stu Varney early this morning say that part about consumer spending being up——true enough if you can keep from snickering-—with the price of gas setting records and sales of guns and ammo also setting records there is indeed a smidge of truth init. I expect confirmation soon that sales of pitchforks are up.
That chart is a great way to illustrate how fast jobs were going into the overseas terlet even during the housing bubble. The geniuses who were responsible for promoting that bubble should be tied to anchors and allowed to ride the red and blue lines all the way to the bottom. Both of those lines are going to be upside down for at least another decade——
Unfortunately the CPI has been heavily degraded over time, especially over the prior three admins. Instead of calculating the cost of a set standard of living, it now calculates the cost of a declining standard of living. In turn the inflation adjusted GDP has been overstated.
Some links you might find of interest:
Amen to that.
FYI more info available on how the CPI, and therefore inflation adjusted GDP have been degraded.
Thank you. Its a start (for me) ..... I was wondering out loud who exactly uses these numbers, and for what purpose.
I kept seeing periodically reports of such and such indicators which are supposedly telling us how economics is doing, and revisions of them (almost always) afterwards.
Nowadays it seems purely for academic/historic purpose, because nobody (in general public) can have trust in the numbers per se when they come out. Unless people keep and make charts.
Exactly. And people do. Revisions are inevitable - the numbers are too big, there’s just going to be error. But people here who are tracking the numbers have exposed a systematic effort to game the system and minimize numbers they don’t like.
It would have been much easier for you to say we have a Muslim Traitor playing POTUS who is doing everything he can to destroy America
The presstitutes lie continuously to cover for their Muslim boy who is simply enabling the radical left to destroy America too.
Obama's Muslim buddies are destroying on purpose but the radical left is doing it because they are STUPID.
Americans look at the headlines and have no idea what is going on. Whether they read DU or FREEREPUBLIC, all they know is it ain't going well. Americans are the biggest fools in history.
But after the election, the downward revision will make your head swim.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.