Posted on 01/30/2014 6:02:24 AM PST by mykroar
Robust household spending and rising exports kept the U.S. economy on solid ground in the fourth quarter, but stagnant wages could chip away some of the momentum in early 2014.
Gross domestic product grew at a 3.2 percent annual rate, the Commerce Department said on Thursday, in line with expectations.
While that was a slowdown from the third-quarter's brisk 4.1 percent pace, it was a far stronger performance than earlier anticipated and was welcome news in light of a 0.3 percentage point drag from October's partial government shutdown and a much smaller contribution to growth from a restocking by businesses.
Earlier in the quarter many economists were anticipating a growth pace below 2 percent given that an inventory surge accounted for much of the increase in the July-September period.
(Excerpt) Read more at foxbusiness.com ...
They are reinflating the housing bubble with a new liar loan and other programs. That will cause some “growth” in the short term as that phony baloney real estate money hits the middle class economy.
The “economy”
“Activity” continues to grow in Washington-DC Fairfax, which is why PRICES paid for essentials never really fall.
Furthermore, when the next report comes out, of the negative economy (already showing up with the falling stock market), it will be blamed on the “unusual” cold January causing a slowdown in consumer activity.
All a set up to keep Extorting.
I think only Democrats can qualify, though, so it probably won't have too much effect. :)
The economy did NOT grow 3.2% — what a lie!
All you statistic belong to us!
I wonder the impact on the numbers of moving several hundred billion in spending/debt onto the books when the debt limit was extended in October.
“Point Five. Every establishment, concern, corporation or person engaged in production of any nature whatsoever shall henceforth produce the same amount of goods per year as it, they or he produced during the Basic Year, no more and no less. The year to be known as the Basic or Yardstick Year is to be the year ending on the date of this directive. Over or under production shall be fined, such fines to be determined by the Unification Board.
“Point Six. Every person of any age, sex, class or income, shall henceforth spend the same amount of money on the purchase of goods per year as he or she spent during the Basic Year, no more and no less. Over or under purchasing shall be fined, such fines to be determined by the Unification Board.
Rand, Ayn (2005-04-21). Atlas Shrugged: (Centennial Edition) (p. 539). Penguin Group. Kindle Edition.
I read ONLY the headline, and a few comments which seem to backup my initial reaction to this article, which is BS.
I bought a piece of open land in 1976 for $9000.00, the owner financed it and it wound up costing me about $13000. including interest. I sold it in 1996 for $30000. I was amazed how many people thought I had really done well on the deal. According to my calculations, I lost money on it once you factor in inflation along with interest, property taxes and all the rest.
Yesterday bought my cat some cat treats, normally they are 3 oz. bags for 1.50 now still 1.50 but contain only 2.47 oz. Since now getting 1/6 less for 1.50 plus the tax is still 9 cents price increase is 6 divided into 1.59 = slightly more then 26.5 cents/bag. Doing this in my small brain % increase would be about 17% in one days time. Cat going on diet and I writing the company to complain. Would switch brands but cat only eats this one, she has me trained.
Do my own shopping now since ex and I parted ways, notice the same scam often. Only answer is to sell the cat to Chinese rest. If you would like to save my cat, check my math and let me know I am wrong.
All these numbers impute a value to government goods and services. No, I’m not kidding.
Remember the wheat harvest forecasts the Soviets used to put out. Always said it was going to be a bumper crop then they bought shiploads of the stuff from us. They keep the math challenged to sleep by singing this same lullaby to us about inflation and umemployment. The sad part is it still works.
‘Comrades!’ cried an eager youthful voice. ‘Attention, comrades! We have glorious news for you. We have won the battle for production! Returns now completed of the output of all classes of consumption goods show that the standard of living has risen by no less than 20 per cent over the past year. All over Oceania this morning there were irrepressible spontaneous demonstrations when workers marched out of factories and offices and paraded through the streets with banners voicing their gratitude to Big Brother for the new, happy life which his wise leadership has bestowed upon us. Here are some of the completed figures. Foodstuffs ——’
That would probably be more like "charging on the charge card" rather than paying cash.
They know exactly what they're doing. CBS radio news led the top of the hour with this:
"There was positive news in one of three important economic news items. Fourth quarter growth was very strong..."
No mention of the other two items.
In other news, the chocolate ration has been increased to 20 grams.
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