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U.S. final Q1 GDP revised down to 1.8% from 2.4% [Sharply Down: Obama Economy FAILING]
Investing.com ^ | 6/26/13

Posted on 06/26/2013 5:45:26 AM PDT by SoFloFreeper

The U.S. economy grew significantly less-than-expected in the first quarter of 2013, fuelling concerns over the U.S. economic outlook, official data showed on Wednesday.

In a report, the Bureau of Economic Analysis said gross domestic product increased at a seasonally adjusted annual rate of 1.8% in the three months to March, below expectations for a 2.4% gain.

(Excerpt) Read more at investing.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: bhoeconomy; democrats; economy; jobs; obama
Obamanomics: massive, utter failure.
1 posted on 06/26/2013 5:45:27 AM PDT by SoFloFreeper
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To: SoFloFreeper
Oh, look: prices went up more than expected:

The GDP price index rose by 1.3% in the first quarter, above expectations for a 1.2% gain.

2 posted on 06/26/2013 5:46:06 AM PDT by SoFloFreeper
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To: SoFloFreeper

All of the news today will be about the sodomites and the Supreme Court...but this is important.


3 posted on 06/26/2013 5:47:26 AM PDT by SoFloFreeper
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To: SoFloFreeper
Of course.

How many more quarters are the administration and their media stooges gonna be allowed to pull this crap?

4 posted on 06/26/2013 5:48:10 AM PDT by skeeter
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To: SoFloFreeper

5 posted on 06/26/2013 5:48:33 AM PDT by SoFloFreeper
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To: SoFloFreeper

Well, ain’t that a kick-in-the-pants to all the Mary Sunshine’s at CNBC and Bloomberg who were singing the praises of the ever-illusive “recovery.” Apparently, those who lie every day for a living finally believe it.


6 posted on 06/26/2013 5:49:02 AM PDT by txrefugee
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To: SoFloFreeper
2.4% --> 1.8%

That's a 25% error! Man, wish I had a job where I could get away with that level of slop.

Good thing is, we probably aren't paying them what they are worth in the private sector.

< /SARC>

7 posted on 06/26/2013 5:49:17 AM PDT by Aevery_Freeman (We say "low-information" but we mean "low-intelligence")
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To: Aevery_Freeman

Or a 33% error, depending on how you look at it.


8 posted on 06/26/2013 5:53:26 AM PDT by 9YearLurker
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To: SoFloFreeper

Obama’s policies are only a failure to market based economics, those who believe in organic growth. Obamanomics is a success for ‘Progressives’. Command and Control works this way every time.


9 posted on 06/26/2013 5:56:03 AM PDT by griswold3 (Quis custodiet ipsos custodes)
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To: SoFloFreeper

How unexpected....


10 posted on 06/26/2013 5:57:15 AM PDT by neodad (USS Vincennes (CG-49) Freedom's Fortress)
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To: SoFloFreeper

Looks like the Fed will be ‘justified’ to ramp up QE again.


11 posted on 06/26/2013 5:57:51 AM PDT by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: SoFloFreeper
The U.S. economy grew significantly less-than-expected

Exactly who are these IDJUTS who were "expecting" higher growth?? Why would ANYone with half a brain be surprised by this?

12 posted on 06/26/2013 5:58:24 AM PDT by Nevermore (...just a typical cracker, clinging to my Constitutional rights...)
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To: SoFloFreeper

Post of the day


13 posted on 06/26/2013 6:00:06 AM PDT by newfreep (Breitbart sent me...)
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To: Aevery_Freeman
2.4% --> 1.8%
That's a 25% error! Man, wish I had a job where I could get away with that level of slop.
Good thing is, we probably aren't paying them what they are worth in the private sector.

Tell me about it. I've worked in the financial services industry for 25 years and was just laid off for the third time. I am told however, that in spite of my credentials I am "unqualified" to work for the Federal government because I lack a PhD. If I had one, it seems I could get away with making predictive errors in excess of 6 standard deviations.

14 posted on 06/26/2013 6:04:26 AM PDT by andy58-in-nh (Cogito, ergo armatum sum.)
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To: SoFloFreeper

This, from CNBC’s U.S. Markets Overview:

“The 1.8 percent GDP is particularly alarming...If this is the best we can do, even after income bumps and an aggressive QE program, the domestic economy is even more fragile than what we already believed,” said Todd Schoenberger, managing partner at LandColt Capital. “There is a clear disconnect from what the Fed is reviewing and Main Street is living. The pathetic part of it all is Wall Street will see this as good news as stocks will most likely rally on hopes of an extended period for more bond buying.”

More evidence the recent economic “growth” has as its foundation the soon-to-end sugar high of QE.


15 posted on 06/26/2013 6:04:35 AM PDT by ScottinVA ( Liberal is to patriotism as Kermit Gosnell is to neonatal care.)
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To: SoFloFreeper

Obamanomics: massive, utter failure. Moving along nicely as planned. In order to bring about change he needs to rid himself of the capitolist system


16 posted on 06/26/2013 6:12:01 AM PDT by ronnie raygun (Yesterdays conspiracies are todays truths)
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To: SoFloFreeper

0bama cooked the books?

Say it ain’t so!


17 posted on 06/26/2013 6:14:29 AM PDT by Uncle Miltie (If you’re happy and you know it clank your chains!)
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To: andy58-in-nh
6 standard deviations

Even in Left World there are only 4 distinguishable deviations: heterosexual, white, judeo-christian and Conservative.

18 posted on 06/26/2013 6:15:35 AM PDT by immadashell
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To: SoFloFreeper
U.S. final Q1 GDP revised down to 1.8% from 2.4% [Sharply Down: Obama Economy FAILING]

As I've said all along - There never has been a "RECOVERY", only propaganda and newspeak from the state controlled media.

19 posted on 06/26/2013 6:15:49 AM PDT by The Sons of Liberty (Jesus, Please Save America!)
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To: MichaelCorleone

“You’re gonna want more cowbell!”


20 posted on 06/26/2013 6:17:11 AM PDT by Uncle Miltie (If you’re happy and you know it clank your chains!)
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To: immadashell
Even in Left World there are only 4 distinguishable deviations: heterosexual, white, judeo-christian and Conservative.

I plead: guilty, guilty, guilty and guilty.

Now: where the hell is my bailout?

21 posted on 06/26/2013 6:17:35 AM PDT by andy58-in-nh (Cogito, ergo armatum sum.)
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To: SoFloFreeper

DEPRESSION... anything else stated is a damnable lie.

LLS


22 posted on 06/26/2013 6:21:02 AM PDT by LibLieSlayer (FROM MY COLD, DEAD HANDS!)
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To: SoFloFreeper

SUMMER OF RECOVERY 5.0


23 posted on 06/26/2013 6:21:49 AM PDT by LibLieSlayer (FROM MY COLD, DEAD HANDS!)
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To: newfreep

I am a wee bit irritated this was taken out of “Breaking”, I consider this to be big news.


24 posted on 06/26/2013 6:23:19 AM PDT by SoFloFreeper
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To: SoFloFreeper
I think most people knew intuitively that it couldn't possibly have been 2.4%, which is closer to "normal".

Anyway, so much for the end of QE.n.

25 posted on 06/26/2013 6:31:16 AM PDT by schm0e ("we are in the midst of a coup.")
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To: andy58-in-nh
Tell me about it. I've worked in the financial services industry for 25 years and was just laid off for the third time. I am told however, that in spite of my credentials I am "unqualified" to work for the Federal government because I lack a PhD. If I had one, it seems I could get away with making predictive errors in excess of 6 standard deviations.

Feel your pain. Was doing a little walking down memory lane and realized that the least prosperous times for a white boy on Wall Street were when Reagan and Bush Jr. were not president.

26 posted on 06/26/2013 6:34:01 AM PDT by schm0e ("we are in the midst of a coup.")
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To: SoFloFreeper
It's hugh.
27 posted on 06/26/2013 6:34:33 AM PDT by schm0e ("we are in the midst of a coup.")
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To: SoFloFreeper
Bienvenue a l'Europe

28 posted on 06/26/2013 6:36:01 AM PDT by Buckeye McFrog
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To: SoFloFreeper

Just perfect! Can I exploit that if make any money of a bumber sticker, t-shirt, or other than you get 50% of all net profit. It’s the best graphic I’ve ever seen that compares and contrasts in a way that other than the socialists would understand.


29 posted on 06/26/2013 6:38:40 AM PDT by A Navy Vet (An Oath is Forever)
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To: SoFloFreeper

No, no, no, I am telling you not to pay attention here. Turn those machines back on and buy, buy, buy those stocks and bonds.

Buy I tell you, buy!!!!


30 posted on 06/26/2013 6:52:02 AM PDT by biff (WAS)
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To: biff

Trading Places


31 posted on 06/26/2013 7:02:05 AM PDT by SoFloFreeper
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To: SoFloFreeper

Think about it, GDP INCLUDES deficit spending of 800,000,000 dollars annually, So if you took away the phony bologna fiat QE pumping, GDP is negative, real negative.


32 posted on 06/26/2013 7:08:01 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: SoFloFreeper
And the Fed purchased $255 Billion of Treasuries and MBS.

Yes, I know that doesn't figure into GDP, but with V1 below .08, take that money out of the economy, what do you have? Bupkus.

5.56mm

33 posted on 06/26/2013 7:15:11 AM PDT by M Kehoe
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To: immadashell
6 standard deviations

Even in Left World there are only 4 distinguishable deviations: heterosexual, white, judeo-christian and Conservative.

you left out (no pun intended) the fifth deviation....hermaphrodite

34 posted on 06/26/2013 7:27:31 AM PDT by spokeshave
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To: Uncle Miltie

35 posted on 06/26/2013 7:45:46 AM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: SoFloFreeper

Seems like every time now, they release the recovery figures and have a Media circus, then wait a week for the interest to die out before they revise the figures down. At some point one tends to suspect that massive incompetence has been replaced by criminal malfeasance.


36 posted on 06/26/2013 8:02:37 AM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: biff

37 posted on 06/26/2013 8:06:20 AM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: SoFloFreeper

Sorta, mostly the thought.

It seems no matter how bad the news is, especially in the fine print, that the stock market keeps getting pushed higher and higher. The biggest cheer leaders are the nitwits on CNBC and I wonder when it is all going to come crashing down.

Should have already it seems.


38 posted on 06/26/2013 8:07:37 AM PDT by biff (WAS)
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To: SoFloFreeper

“Obamanomics: massive, utter failure. “

Nope. Obamanomics is working EXACTLY as intended: destroy the U.S. economy and bring our citizens to 3rd world levels in order that we may be equal with the rest of the world.

Socialism is unable to raise the economic levels of the poor to achieve “equality”, but it is excellent at achieving “equality” via impoverishing everyone equally.

Obammunism and Obamanomics are working perfectly as intended.

Obama is not an incompetent boob: he’s an evil genius.


39 posted on 06/26/2013 9:52:06 AM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: SoFloFreeper

Oh fiddle, everybody knows its Bush’s fault.


40 posted on 06/26/2013 10:06:11 AM PDT by SkyDancer (Live your life in such a way that the Westboro church will want to picket your funeral.)
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To: ScottinVA
And that from the Wall Street chearleaders at CNBC?
41 posted on 06/26/2013 12:54:58 PM PDT by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
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To: spokeshave
< I>6 standard deviations

you left out (no pun intended) the fifth deviation....hermaphrodite</ I>< p>
I don't know about that. There is an odds on chance the RATs will run one for president in 2016 — the Hilldebeest!

42 posted on 06/26/2013 2:59:42 PM PDT by immadashell
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