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All-In [27830]
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LOL. 1Q Real gross domestic product Revised Down To -1.0%
May 29, 2014, 12:07 PM
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If not for those deserving VA bureaucrats getting bonuses and spending them, the GDP would have been -2% for Q1. Apparently the stimulative effects of unemployment checks did not kick in during Q1 like Nancy Pelosi thought they would. And nobody will be madder than Obama when he reads about the lousy economy in the newspaper. I'm sure Biden will soon be announcing "Recovery Summer V".
http://www.investors.com/editorial-cartoons/michael-ramirez/702225-policy
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All-In [34375]
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Re: LOL. 1Q Real gross domestic product Revised Down To -1.0%
May 29, 2014, 12:16 PM
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Cool. I hope you post as many things about how Q2 goes. Wouldn't be like you to jump all over a single bad quarter in the middle of constant growth.
I also had no idea that VA bureaucrat bonuses were equal to 1% of GDP. Holy shat!
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Oculus Spirit [83625]
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serious question....
May 29, 2014, 12:42 PM
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because I've quit paying attention, but this constant growth we've been having, isn't it like extremely miniscule? Something like a tenth of percent and sometimes lower?
At the risk of being personally "landblasted" by a certain poster spending power on goods hasn't really improved over the past six years. Not saying its Obama's fault, but food, utilities, etc. are through the roof compared to 6 years ago. And nobody has been talking about gas creeping up to close to $4 again.
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All-In [34375]
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Re: serious question....
May 29, 2014, 1:10 PM
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Some quarters were unimpressive, others were impressive. Since the recession ended, most quarters showed growth over 2% and in a couple quarters growth topped 4%. There was one quarter of minuscule growth (4Q 2012) and the most recent quarter of course had negative growth, as recently reported.
I would guess that the emphasis (on Tnet and elsewhere) on the single period of minuscule growth and the recent bad quarter created a false impression.
Here's a chart.
http://online.wsj.com/articles/u-s-gdp-contracted-at-1-pace-in-first-quarter-1401366873
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Oculus Spirit [83625]
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thanks***
May 29, 2014, 1:20 PM
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All-In [34375]
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Re: thanks***
May 29, 2014, 1:24 PM
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I just noticed that my link takes you to an abbreviated page that asks you to log in. Strangely, it didn't ask me to do that the first time. If you see the abbreviating version, there may be a way around it.
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All-Pro [673]
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The recession ended? No one told me!
May 29, 2014, 1:54 PM
[ in reply to Re: serious question.... ] |
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You also convienently ignored the inflation that Frank pointed out. I would expect to see SOME "growth" of 2% when inflation has to be in the double digits.
And please don't bother with the Consumer Price Index (CPI) rate of inflation. That doesn't include food or energy, where most of us are feeling it.
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All-In [34375]
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Yes, in 2009.
May 29, 2014, 2:42 PM
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No one told you because you were watching Fox News, and they don't mention it that often.
Inflation has to be in the double digits? In what country? In what decade?
I won't bother you with whatever it is you're asking me not to bother you with. How about you show everyone how inflation is in double digits. Thanks in advance.
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All-Pro [673]
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All-In [34375]
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Re: Beef is at 6.5% inflation this year
May 29, 2014, 5:54 PM
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U.S. food price inflation is expected to rise by 2.5 percent to 3.5 percent in 2014, higher than 2013 but roughly in line with long-term norms, the U.S. Department of Agriculture said on Friday.
Source: your article
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All-In [32097]
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Umm...I think the recovery has been poor....
May 29, 2014, 9:41 PM
[ in reply to The recession ended? No one told me! ] |
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but I don't think you know what you're talking about. Inflation is not double digits. Not total inflation and not core inflation. Core inflation takes out food and energy for a good reason...they can change drastically month to month which would render the monthly tracking meaningless.
However, total inflation is measured each month and broken down by segment if you're really interested in it.
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Hall of Famer [24619]
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No, you have it about right. Growth has been very, very
May 29, 2014, 5:59 PM
[ in reply to serious question.... ] |
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slow. In terms of real output and incomes, we are not much further along from 2009 levels. Not only do the economic stats show this, but talk to any Realtor, restaurant owner or other busieness owner and this is what they say. A couple of Greenville Main Street restaurant owners have told me that business is marginally up from 2008-2009 levels.
And the debt is tons larger, and growing. There is some reason for cautious optimism, at least as much reason for alarm as ever.
IMO, anyone who tries to a paint a better picture of it than that, or to place blame on one president or the other, is playing partisan politics.
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All-In [34375]
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Re: No, you have it about right. Growth has been very, very
May 29, 2014, 6:46 PM
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Growth has not been much slower than average, but median incomes have been falling in real (inflation adjusted) dollars.
The rich got richer.
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Hall of Famer [24619]
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No wait, i thought the economic new was good. I thought
May 30, 2014, 11:10 PM
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rich-get-richer was a pub thing. Or is it still Bush's fault?
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Hall of Famer [24619]
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But yes, growth has been slower than average. Only in the
May 30, 2014, 11:18 PM
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last few months has the number of people employed begun to increase, and we have a long way to go there. We are way behind 2008 numbers. And accounting for population increae, this looks really bad. Pay no attention to the man behind the curtain.
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All-In [34375]
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Re: But yes, growth has been slower than average. Only in the
Jun 1, 2014, 10:54 AM
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But yes, growth has been slower than average. Only in the last few months has the number of people employed begun to increase, and we have a long way to go there.
In this thread, "growth" was a reference to GDP. You are talking about employment. If we turn to employment, your assertion in incorrect. We have had consistent increases in employment since 2010.
We are way behind 2008 numbers. And accounting for population increae, this looks really bad. Pay no attention to the man behind the curtain.
This assertion isn't quite true but it's close. The number of people employed today is nearly equal to the number employed in 2008. However, 99% or more of job losses occurred in 2008 and 2009 and resulted from the Great Recession. The fact that we're back at 2008 levels is the result of consistently positive job growth since the Great Recession.
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CU Guru [1108]
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All-In [34375]
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Re: LOL. 1Q Real gross domestic product Revised Down To -1.0%
May 30, 2014, 10:24 AM
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I looked at the facts. Did you?
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All-In [34972]
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d00d, you didn't get the memo...it's Ol' Man Winter's fault!***
May 29, 2014, 12:44 PM
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