I find this statement amusing, for some reason.
Wow, the start of another ‘Bush Resession’!
This number will be corrected shortly. Any record of it ever having been reported will then be erased by the Ministry of Truth.
If GDP keeps going down all the time, I would think the last four years of stimulus hasn’t worked. Why does the Fed need more stimulus?
When business owners realized that the Marxist was re-elected by the Takers, the Makers pulled in their chips.
The Q1 results come in in March. By then, the phony bullish numbers that Wall St. puts out every Jan. will show a bust, as they have the past three years.
Figures lie and liars figure: The motto of the Obama administration.
This is terrible, we need to print money faster to keep up with demand!!
Wow it looks like that suits gold and silver just fine — gold is straight up twelve bucks since that came out.
Guess they shouldn’t have raised our taxes.
20 million new amnesty citizens will boost the economy.
The American economy is hopelessly in the tank due to Obama’s communist aspirations, and everone knows it except for a few fuzzy-thinking eggheads who can’t be bothered to look up from their computer keyboards for five minutes.
The 0bama regime may have declared "the recession ended", but no one told the economy. I would expect the drop in GDP this quarter to be almost precipitous due to the tax increases and 0bamascare impacts. Of course the bureaucrats in the regime will be caught off guard and it will once more be "UNEXPECTED".
I sell industrial supplies and I can tell you last quarter sucked and so far this quarter is worse.
Taxes went up on January 1 and gasoline just shot up $.25 per gallon over the last two days. The economy is just fine. I’m sure the first quarter of the new Obama administration is going to be rosy!
Brace for impact.
.1 percent is not a stunning drop. It does not provide any incentive for more “stimulus.”
There have been 3 “stimulus” packages. Of course they could not have worked. All they could have done was lower the value of money, so that the reported numbers would have risen, while the actual numbers in terms of value would not have changed.
So now the idiots want another “stimulus.”
Typical. When a liberal solution fails, as they all do, liberals always demand a strengthening of the solution that failed, and that will fail too.
The FED is juicing the stock market.
“We need more cowbell!!!”
- Ben Bernanke
Taxes work! Heil Obama!
Analysis from Business Insider:
People will be stunned to see that today’s GDP report went negative for Q4... the first negative print since The Great Recession.
But the report isn’t that bad. In fact it was arguably good.
For one thing, most of the collapse was due to a stunning fall in military spending. That’s not good for GDP, but it doesn’t reflect the real underlying strength of the economy.
And it’s mostly due to war drawdown. That’s a good thing for everyone!
There was also a big decline due to a reversal of big inventory buildups.
The change in real private inventories subtracted 1.27 percentage points from the fourth-quarter change in real GDP after adding 0.73 percentage point to the third-quarter change. Private businesses increased inventories $20.0 billion in the fourth quarter, following increases of $60.3 billion in the third and $41.4 billion in the second.
Seeing a decline in inventory buildups isn’t that big of a deal really. This number always goes back and forth.
What’s key is that the numbers that really reflect the strength of the economy were much better.
Personal consumption, fixed investment, and equipment/software all grew nicely. This is the real economy humming along.
Real personal consumption expenditures increased 2.2 percent in the fourth quarter, compared with an increase of 1.6 percent in the third. Durable goods increased 13.9 percent, compared with an increase of 8.9 percent. Nondurable goods increased 0.4 percent, compared with an increase of 1.2 percent. Services increased 0.9 percent, compared with an increase of 0.6 percent.
Real nonresidential fixed investment increased 8.4 percent in the fourth quarter, in contrast to a decrease of 1.8 percent in the third. Nonresidential structures decreased 1.1 percent; it was unchanged in the third quarter. Equipment and software increased 12.4 percent in the fourth quarter, in contrast to a decrease of 2.6 percent in the third. Real residential fixed investment increased 15.3 percent, compared with an increase of 13.5 percent
So, less war, more business investment. This was a good report.