Dismiss Notice
Thanks for being a member of our community. Please donate toward site expenses if you can.

Us economy shrank at 0.7 percent rate in first quarter

Discussion in 'Current Events' started by Bluesguy, May 29, 2015.

Page 1 of 3
  1. Bluesguy

    Bluesguy Well-Known Member Donor

    Joined:
    Jun 13, 2010
    Messages:
    154,056
    Likes Received:
    39,232
    Trophy Points:
    113
    Gender:
    Male
    So as many expected the economy actually shrank the first quarter. Will Obama get out of the way and not obstruct measures by the Congress to get the economy going? Will he propose anything FINALLY to get it going? All that talk and no action the last 8 years other than the failed stimulus.

    And of course the excuses abound in the AP reporting.

    "WASHINGTON (AP) -- The U.S. economy went into reverse in the first three months of this year as a severe winter and a widening trade deficit took a harsher toll than initially estimated.

    The overall economy as measured by the gross domestic product contracted at an annual rate of 0.7 percent in the January-March period, the Commerce Department reported Friday.

    The revised figure, even weaker than the government's initial estimate of a 0.2 percent growth rate, reflects a bigger trade gap and slower consumer spending. It marked the first decline since a 2.1 percent contraction in the first three months of 2014, a slump that was also blamed on winter weather."

    http://hosted.ap.org/dynamic/storie...ME&TEMPLATE=DEFAULT&CTIME=2015-05-29-08-31-04
     
    Bluesguy, May 29, 2015
    #1
  2. MolonLabe2009

    MolonLabe2009 Banned

    Joined:
    Dec 10, 2009
    Messages:
    33,092
    Likes Received:
    15,284
    Trophy Points:
    113
    It's the weather's fault again. LMFAO!

    Well, at least they didn't blame Bush this time.
     
    MolonLabe2009, May 29, 2015
    #2
  3. Bluesguy

    Bluesguy Well-Known Member Donor

    Joined:
    Jun 13, 2010
    Messages:
    154,056
    Likes Received:
    39,232
    Trophy Points:
    113
    Gender:
    Male
    It's a weak economy STILL that can't take a little blip in the weather. We should be at solid GDP levels that the weather knocks a few 1/10's off MAYBE, like from 3.5% to 3.3%, not throw us into negative because the NE had a bad spell of weather.

    Oh and note how they are using the "well it's just in the way we record the numbers so let's start manipulating them to our satisfaction".
     
    Bluesguy, May 29, 2015
    #3
  4. toddwv

    toddwv Well-Known Member Past Donor

    Joined:
    May 18, 2009
    Messages:
    30,444
    Likes Received:
    6,429
    Trophy Points:
    113
    It's strange how you didn't post the rest of the title: "US economy fell at 0.7 pct. rate in winter but is rebounding "

    From the article:

     
    toddwv, May 29, 2015
    #4
  5. Bluesguy

    Bluesguy Well-Known Member Donor

    Joined:
    Jun 13, 2010
    Messages:
    154,056
    Likes Received:
    39,232
    Trophy Points:
    113
    Gender:
    Male
    How does it mitigate the fact if went negative in the 1st quarter, and of course the 4th quarter of last year was revised downward, and spare me forecast. And of course the fact Obama has offered nothing to get the economy back on track and will oppose and Republican efforts.

    Yeah "foresee", well their foresee's haven't been too good for years and we need 3.5-5 percent to get people back to work and incomes to grow and tax revenues to grow substantially.
     
    Bluesguy, May 29, 2015
    #5
  6. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

    Joined:
    Apr 19, 2008
    Messages:
    94,819
    Likes Received:
    15,788
    Trophy Points:
    113
    Here's one good reason it shrank.
     
    Professor Peabody, May 29, 2015
    #6
  7. toddwv

    toddwv Well-Known Member Past Donor

    Joined:
    May 18, 2009
    Messages:
    30,444
    Likes Received:
    6,429
    Trophy Points:
    113
    You shouldn't use words like "mitigate" if you don't understand what the word means.

    So the real question is how does the part of the title that you chose to exclude NOT mitigate by so doing misrepresenting the information contained in the article?
     
    toddwv, May 29, 2015
    #7
  8. toddwv

    toddwv Well-Known Member Past Donor

    Joined:
    May 18, 2009
    Messages:
    30,444
    Likes Received:
    6,429
    Trophy Points:
    113
    Yeah, it's weird how that 1st quarter slowdown works. Innit? I mean the quarter right after winter slowing down? Wow!! FIRST TIME EVER!!!

    Lol @ "conservatives" and their desperate attempts...
     
    toddwv, May 29, 2015
    #8
  9. Lee S

    Lee S Moderator Staff Member Past Donor

    Joined:
    Jun 20, 2012
    Messages:
    10,649
    Likes Received:
    2,623
    Trophy Points:
    113
    I am not sure anyone is trying to be deceptive here with the exception of the Associated Press. I feel like Bluesguy was showing a certain degree in honor in not repeating the lie. Obama has been in office for 89 months and we have had 89 straight 'unexpectedly bad' economic reports. What clear thinking individual is going to read the APs article and say, "Look, they fooled me 88 straight times in a row, but today's report must be different. I think I'll put the whole 'this report is mitigated by the fact that a rebound is on the way' in the thread title because the odds that a sympathetic press is going to be wrong 89 months in a row is just astronomical.

    Can we just face some facts. The economy will never get better with Barack Obama as President. The economy will simply be crappy or slightly nicer versions of crappy. Even when Obama leaves office, the economy will still not improve until the Dodd-Frank Act is repealed. The Dodd-Frank Act is the killer of venture capitalism and Obama is the Destroyer of Prosperity. The whole fact that we are still dealing with a terrible economy 89 months into Obama's Presidency should be incontrovertible proof of these facts.
     
    Lee S, May 29, 2015
    #9
  10. Lee S

    Lee S Moderator Staff Member Past Donor

    Joined:
    Jun 20, 2012
    Messages:
    10,649
    Likes Received:
    2,623
    Trophy Points:
    113
    The West had one of the mildest winters in memory. Could that have accounted for the fact that the economy didn't tank even worse.
     
    Lee S, May 29, 2015
    #10
  11. Talon

    Talon Well-Known Member Past Donor

    Joined:
    Dec 4, 2008
    Messages:
    46,809
    Likes Received:
    26,355
    Trophy Points:
    113
    Gender:
    Male
    Awesome. Summer of Recovery 6.0 here we come!! :woot:
     
    Talon, May 29, 2015
    #11
  12. Talon

    Talon Well-Known Member Past Donor

    Joined:
    Dec 4, 2008
    Messages:
    46,809
    Likes Received:
    26,355
    Trophy Points:
    113
    Gender:
    Male
    Another thing that the Neo-Socialist in Chief has been adept at destroying is confidence, and as you know, confidence plays a big role in our economy.
     
    Talon, May 29, 2015
    #12
  13. Grizz

    Grizz New Member

    Joined:
    Jul 3, 2014
    Messages:
    4,787
    Likes Received:
    60
    Trophy Points:
    0
    I wish the Congress would get off their butts and pass some of Obama's jobs bills to get things moving a bit faster. About all I've seen from them in the way of jobs bills, is how many they can kill and how fast. They all seem to come down to more tax cuts for the filthy rich will trickle down and create jobs. Maybe. Someday.
     
    Grizz, May 29, 2015
    #13
  14. Dispondent

    Dispondent Well-Known Member Past Donor

    Joined:
    Sep 5, 2009
    Messages:
    34,260
    Likes Received:
    8,086
    Trophy Points:
    113
    What Obama job's bills? Do tell...

    We all saw the disaster of his last 'jobs bill' the so-called stimulus, is going to promise more shovel ready jobs? Not sure the economy could take that...
     
    Dispondent, May 29, 2015
    #14
  15. Talon

    Talon Well-Known Member Past Donor

    Joined:
    Dec 4, 2008
    Messages:
    46,809
    Likes Received:
    26,355
    Trophy Points:
    113
    Gender:
    Male
    Meh...what's another trillion dollars in debt amongst Obama and his political patrons?
     
    Talon, May 29, 2015
    #15
  16. Lee S

    Lee S Moderator Staff Member Past Donor

    Joined:
    Jun 20, 2012
    Messages:
    10,649
    Likes Received:
    2,623
    Trophy Points:
    113
    That is so true. I run a small business, and like most business owners, we are just sitting around waiting for Obama to do the next idiotic thing. The Republican majority in the House helped a lot in 2010 in that the Democrats no longer had free reign to enact every idiotic plan that whisped through their synapses such as cash for clunkers. The Republicans taking the Senate also helped and raised confidence, but with Obama's veto power, they are still unable to do the damage which is the Dodd-Frank Act and Obamacare. And the Dodd Frank Act and Obamacare still haven't been finalized so businesses cannot react to the provisions of these two bills. The bills themselves were simply 2000 pages of babble directing bureaucrats to write 20,000 pages of regulations. With these bills, the devil is in the details. Should a business expand and then wait around to see if the final versions of the regulations are going to make that expansion a foolish decision in hindsight? Of course not. Nobody is going to expand until they have a firm idea of the profit versus loss.
     
    Lee S, May 29, 2015
    #16
  17. Bluesguy

    Bluesguy Well-Known Member Donor

    Joined:
    Jun 13, 2010
    Messages:
    154,056
    Likes Received:
    39,232
    Trophy Points:
    113
    Gender:
    Male
    Bromide noted. Perhaps you should put some time in study English. Now do you just want to trade insults or discuss the issue?

    Again how does that mitigate, make less server, serious or painful, the fact the economy shrank in the first quarter.

    Acutally appears they changed the title after I posted, it was a direct cut and paste.

    So how desperate are you to avoid discussing the real issue here?
     
    Bluesguy, May 29, 2015
    #17
  18. Grizz

    Grizz New Member

    Joined:
    Jul 3, 2014
    Messages:
    4,787
    Likes Received:
    60
    Trophy Points:
    0
    Let's don't get our shorts in a knot, shall we?



     
    Grizz, May 29, 2015
    #18
  19. Phoebe Bump

    Phoebe Bump New Member

    Joined:
    Jan 11, 2010
    Messages:
    26,347
    Likes Received:
    172
    Trophy Points:
    0
    Great news, eh? Republicans have something to cheer about. A shrinking economy is a God-send. Taking bets on the 2nd Qtr?
     
    Phoebe Bump, May 29, 2015
    #19
  20. ARDY

    ARDY Well-Known Member Past Donor

    Joined:
    Mar 1, 2015
    Messages:
    8,386
    Likes Received:
    1,704
    Trophy Points:
    113
    Yeah, what ever happened to the morning in america slogan
     
    ARDY, May 29, 2015
    #20
  21. In The Dark

    In The Dark Well-Known Member

    Joined:
    Dec 13, 2014
    Messages:
    3,374
    Likes Received:
    508
    Trophy Points:
    113
    Thanks, Obama!

    - - - Updated - - -

    The last 6+ years it's been mourning in America.

    I weep for my country.
     
    In The Dark, May 29, 2015
    #21
  22. In The Dark

    In The Dark Well-Known Member

    Joined:
    Dec 13, 2014
    Messages:
    3,374
    Likes Received:
    508
    Trophy Points:
    113
    Then next idiotic thing that smacks down a random business is likely to originate in the regulatory Executive. They churn up a bigger crapstorm than the uninvolved drone ever realizes.
     
    In The Dark, May 29, 2015
    #22
  23. Bluesguy

    Bluesguy Well-Known Member Donor

    Joined:
    Jun 13, 2010
    Messages:
    154,056
    Likes Received:
    39,232
    Trophy Points:
    113
    Gender:
    Male
    What jobs bills?

    There first job was to get a budget passed which Obama and the Democrats never managed to do, that is the first thing to instill some confidence in the markets and business.

    And that is the next step, do something with a proven record of working like tax rate cuts. Then start rolling back the oppressive regulations the left has put on businesses.

    - - - Updated - - -

    Who's cheering can you give me some examples? Everyone I see and hear is lamenting it once again.

    Are you happy about it or admitting it is nothing to be cheering about?
     
    Bluesguy, May 29, 2015
    #23
  24. In The Dark

    In The Dark Well-Known Member

    Joined:
    Dec 13, 2014
    Messages:
    3,374
    Likes Received:
    508
    Trophy Points:
    113
    Something shovel ready this way comes.

    Run away!

    .
     
    In The Dark, May 29, 2015
    #24
  25. In The Dark

    In The Dark Well-Known Member

    Joined:
    Dec 13, 2014
    Messages:
    3,374
    Likes Received:
    508
    Trophy Points:
    113
    NYT:
    The Fed has no room to act. Interest rates cannot be lowered. 6+ years of Obamafail have exhausted the 0% trick
     
    In The Dark, May 29, 2015
    #25
Page 1 of 3

Share This Page