Posted on 04/30/2014 3:46:15 PM PDT by Red in Blue PA
The U.S. economy stalled in the first three months of 2014, but don't panic yet as it's probably just the winter weather effect.
Gross domestic product, the broadest measure of economic activity, grew at a 0.1% annual pace in the first quarter, the U.S. Bureau of Economic Analysis reported Wednesday.
That's brutally slow, even by sluggish post-recession standards. Since the Great Recession ended in June 2009, the economy has been growing at a rate of about 2% to 3% per year.
(Excerpt) Read more at money.cnn.com ...
Cannot be the devastating effects of obamacare, Obama, or his onerous regulations and taxes.
na... obamacare was suppose to cut the budget, cut rates, and insure everyone!
...
Of course the economy is contracting, just look around.
Some time after the midterms we might find out how the books were cooked this time around.
No doubt the word has gone out far and wide that under no circumstances can an economic contraction be reported any time before November.
Given that the revisions are invariably lower, I’d say we’re contracting.
It’s gotta be the weather, though, ‘cause we’ve never had a winter before...
Exactly. With the books this cooked we could be contracting 10% for all we know.
Uh, gee, thank goodness we are figuring Hollywood creativity into the GDP, or it would be in the negative.
Well zero did say he was going to focus on the economy like a laser beam, success for him, he has destroyed it!
“...Some time after the midterms we might find out how the books were cooked this time around.
No doubt the word has gone out far and wide that under no circumstances can an economic contraction be reported any time before November.”
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I have a difficult time accepting government statistics anymore. The bureaucracy is filled with progressives (such as Lois Lerner) who are more interested in promoting the progressive agenda and protecting DimocRATS than they are in the producing anything that is true.
This news will be good for a +200 bump on the DOW tomorrow.
Tried to find what the GDP was during the Depression. Anyone?
The GDP books are as cooked as the CPI books.
IOW, we are in deep crap.
We better hurry up and pass amnesty for illegals right away, and give more taxpayer money to the public employee unions. Oh, and don’t forget those taxpayer subsidized electric cars.
Forget about the Keystone Pipeline. We need real economic solutions. /s
High speed trains and windmills,the key to growth comrade!
0.1% is below stall speed. You need to grow 2.5% a year just to keep up with population growth.
They already cooked the books when they changed the formula for GDP to include R&D and benchmarks which makes it 3% higher than before these changes.
Asphalt will put us on the path to growth.....Obozo told us so so it must be true.
1/10th of 1 per cent is probably the result after it was massaged so as not to show negative growth and further spook(caution, I could lose my NBA franchise over that one) the fragile markets.
Are you awake yet America?
Absolute lie, baloney, garbage, crapolla. Properly measured and reported, the economy hasn't grown 2% to 3% since 2009, PERIOD.
My opinion, of course. And the great thing about an opinion is that I don't have to prove it.
If only Bammy would give me my $2500 from his sta$h.....
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