FTA: While the economy's woes have been largely blamed on an unusually cold winter, the magnitude of the revisions suggest other factors at play beyond the weather. Growth has now been revised down by a total of 3.0 percentage points since the government's first estimate was published in April, which had the economy expanding at a 0.1 percent rate.
I included this paragraph because of the egregious hypocrisy in which the shrinkage of the economy was blamed on an unusually cold winter.
Canada’s GDP went up. But of course it’s warmer up there.
Looks similar to the first quarter of 2008.
Time for another Summer Recovery tour?
As I’ve been pointing out, I heard 3, 4, maybe 5 radio stories a month or so ago, explaining that the winter was NOT harsh or real cold. We in the East may have felt super-cold, but if you look at the above average temps out West, it balanced out, and the winter was utterly unremarkable.
These BS stories were an attempt to save face for the global warming scumbags.
Now that they want to bail out the kenyan, all of a sudden, the winter was the coldest in 10 billion years.
Filth and scumbags, all of them.
Welcome to the Obamacare economy, when combined with massive regulations and massive federal debt underwritten by the federal reserve. May I introduce you to Obamaville where food/energy inflation is high; labor participation is at an all-time low; those that are employed have experienced shrinking wages; and last but not least - if you have any money left, you have to purchase health insurance that covers umpteen different things that you’ll never need/use. Good job democrats.
. It's still unprecendented, we never got out of the recession. The idea we did is moronic.
Don’t like the numbers shown by inflation...how the index is calculated gets changed. Unemployment numbers...getting better, even though there are less people (as a percentage of population) working.
GDP? Wait for the official announcement that it is no an indication of growth and is to be replaced by some newly made up index that is practically impossible to calculate with any degree of accuracy or precision. After all, if the numbers are just going to be made up anyway, what difference does it make?
The economy just can’t recover because it’s too cold in the winter and too hot in the summer. And then there are those severe snow flurries... Damn global warming!
0 takes pride in this...he sees himself as successful at completing his plan.
It’s 1937 all over again; the depression within a depression, occurring in part because of all the bad economic moves that occurred in FDR/Obama’s first term, and in part because of the sense in both administrations that, having been re-elected, they are essentially untouchable. (That WWII was already brewing in 1937, and WWIII is already brewing in 2014, is, I sincerely pray, just a coincidence.)
LOL! Imagine that.Things other than weather can affect the economy. Perhaps the national weather service and the commerce dept. should merge into a single dept.
"Unprecedented - U.S. Economy Shrinks By Most Ever Outside Depression"
Listened to a radio finance guy last night saying he thinks they shifted obamacare money from Q1 to Q2 and interest from Q2 to Q1 to make Q1 worse (since it was already known to be bad) and to prevent Q2 from being booked as a recession (2 negatives quarters in a row). I’m leaning toward this. Did anyone else hear anything similar?
