Skip to comments.GDP Plunges to 1.9%
Posted on 06/30/2012 10:01:52 PM PDT by NoLibZone
On Thursday, the U.S. Department of Commerce released a report chock full of weak growth figures and worrisome economic signals.
The gross domestic product (GDP) dropped from last quarter's 3.0 percent to an anemic 1.9 percent. Over half of first-quarter growth came from automobile sales. When automobiles are removed from the calculation, the GDP grew at just 0.7 percent.
Second-quarter growth estimates of 2.0 percent growth, therefore, may be overly optimistic.
The government lowered its previous forecasts for consumer spending and export growth, suggesting the economy had a bit less momentum as it entered the second quarter than previously thought.
(Excerpt) Read more at breitbart.com ...
But was this “unexpected”?
How unexpected. I’m sure the rest was government spending. Probably the increased auto sales were due to deep discounts at the end of the 2012 model year...
What’s the opposite of King Midas?
Yes it is VERY unexpected. Why, just a week or so ago, the private sector was doing just fine!...
Saturday night, the week before Independence Day...think anyone is listening/watching?
Buried on Thursday when two other stories would dominate coverage.
Oh you worry warts!...The government will just borrow money from the new tax on healthcare!
** Economists and Historians (I’m not one but I play one while talking to democrats) ... please rake this email I sent as a result of this thread to a friend who is beginning to understand why maybe, just maybe, hope and change isn’t all it’s cracked up to be ... please rake it over the coals and correct any misconceptions I have.
- Thanks from the people’s cherokee republic in Mass.
:: :: :: :: :: :: ::
“On Thursday, the U.S. Department of Commerce released a report chock full of weak growth figures and worrisome economic signals. The gross domestic product (GDP) dropped from last quarter’s 3.0 percent to an anemic 1.9 percent.”
1. This is why I keep talking about GDP and the 100 person village.
2. The government uses a fake subtractor for inflation, so it’s actually much less than 1.9%
3. Article further says half that number is auto sales. Which explains why standing governments intentionally depress interest rates through the ‘non-political’ Fed, but it’s no different from what caused the housing bubble.
In short - even the small GDP growth is fake. (Republicans and Democrats both play these shenanigans.)
Take note: THIS IS WHY RON PAUL’S PUBLIC ENEMY NUMBER ONE IS THE FED. Money policy, unhinged from gold, is what allows political entities such as the Euro Zone to get hypnotized into thinking credit is great. Until it isn’t. We’re just a few years behind them. It’s what allows Helicopter Ben to effectively put the pedal to the metal on the printing presses.
Tie it to health control by the way - don’t like death panels for the elderly? Euro countries have recently announced other health control rationing steps in addition to letting elderly die. If a government can’t pay, it must ration. Your story about your friend who only found out she had breast cancer when she paid cash in America ... but it was too late and she died ... is pretty much a par and not a bogey for Canada.
In the USSR in the 30’s, 7 million innocents died in the Ukraine of starvation due to wheat rationing. There was only a shortage of wheat because the USSR had no GDP to speak of, so the government had to EXPORT wheat to fund itself. In short - rationing its own people to death.
What we will see in Health Control is structurally the same thing. I’m not saying 7 million will die of famine - I’m saying that in form, the same phenomena still apply to governments/countries that have always applied. One thing that technology can not change is structural financial/economic principles. The Evil just rears its head in another form of suffering.
83 years ago, my high school best friend’s Ukrainian relatives were starving to death ( and selling dead human bodies to each other for meat. )
Now 80 years later - my good friend Mike’s Canadian mother waited 16 weeks for emergency surgery (due to Canadian HC rationing) and died almost immediately after it arrived ... because by the time it arrived, instead of giving her a chance, she was already basically dead. Cancer will not slow its pace just because Obama threatens it with a penalty or tax.
Sarah is right about death panels and you were right to be a little sickened by it. The reason her phrase caught on so much is that it skips the Orwellian doublespeak and goes right to the truth.
So, there are some GDP, Health Care real world examples. “Yes we can” (Kill your mother and then make you eat her)
Lets see if the jobs report for June is less than 70k. If so, we are headed for a double dip. Certainly can't be good for the Dems if that happens.
I don't believe that for a moment.
WE NEVER GOT OUT OF THE FIRST RECESSION.
Unemployment 8%+ Hardly ZERO tinkers with the numbers it is at 20% at least.
But but but...didn’t you hear????? The private sector is doing just fine - fine I tell you!!!!
I agree with your sentiment, but if I wrote that we never got out of recession, FR would have flamed me for days. That is actually a good thing as we here don't like to get loose with the facts. We can argue over the facts, but not as far as misrepresenting them.
Or maybe people are afraid of owning a '13 model.