It was just announced that the economy shrank 2.9% in the first quarter of 2014. This is another downward revision of the originally announced 0.1% growth for the same time frame. Does anybody believe anything coming out of Washington? And does anybody actually think Obama has done anything positive for the economy??
You realize these numbers saying a 3 % contraction come out of Washington right? Their forecast was wrong largely because healthcare spending was down, consumer spending was down a little, businesses pulled back on their inventory, and shitty weather which could not have been foreseen. It's not like they are just making these numbers up. Overall, though this number was rather surprising considering that other economic numbers like employment, consumer confidence and many other numbers such as home sales were actually doing better or stable for this quarter. But, at the end of the day a healthy economy should be able to overcome these kind of hiccups which shows that are economy is still not where it needs to be. I wouldn't take this as a sign of a double dip recession or anything like that. The numbers don't indicate that is the case.
1qtr isnt statistically enough data to make any big assumptions....if its like this for a year that might be pretty alarming
Let's be clear because this post is misleading. The economy did not shrink 3% in a single quarter. It shrank at a seasonally adjusted rate of %2.9 per annum. Which means it shrank 0.725% in the quarter.
We should all do our part and go out and spend $$$ to rack up debt so we can help stimulate the economy.
I got the idea from you of coarse. Here I was collecting silver coins and canned food. Some things you don't think about Sent from my LG-E739 using Grasscity Forum mobile app
Mehhhh.... My stock prices are increasing. Runningw235 is a happy camper. I don't give a shit about GDP.
If you consider doing nothing positive as a positive change then yes, he has done positive things for the economy. That's the standard way the quarterly report is given. If the quarterly report said it shrink 0.725% that would be misleading. It's a quarterly percent number that over a year would be a 3% annual rate. Your clarification was misleading
Yes the quarterly report says that. OP did not. Hence the clarification, Mr. Smartarse. It wasn't misleading at all.
Am I supposed to be offended by that haha. I'm sorry I like to get all the details of a report and not make alarmist claims. Guess that makes me a liberal puppet statist.
damn you call yourself a lot of names on one post.. your post just sounded like a white house press release to me.. thus the comment. don't be so hard on yourself.
If I was being a smartass I would have said no clarification needed, Captain Obvious. http://www.forbes.com/sites/samanthasharf/2014/01/30/u-s-gdp-grew-3-2-in-fourth-quarter-2013/