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1
Posted on 6/25/14 at 3:26 pm to upgrayedd
they have already started -
quote:
Don't worry thought: this is actually great news! Because the brilliant propaganda minds at the Dept of Commerce figured out something banks also realized with the stub "kitchen sink" quarter in November 2008. Namely, since Q1 is a total loss in GDP terms, let's just remove Obamacare spending as a contributor to Q1 GDP and just shove it in Q2.
Posted on 6/25/14 at 3:39 pm to udtiger
quote:
and -2.9% is fabulous news for stocks, because it means QE and low interest rates are not going anywhere for a while...
For the past 8 months or so I have had people telling me to hurry up and buy a house because "interest rates are going to go up soon".
As long as GDP is in the shitter, Unemployment has to be fudged just to look only worrisome, more and more people are getting onto some sort of public assistance, deficit spending is still adding metric shite-tons to the debt and Wall Street gets the DT's anytime raising interest rates is even hinted at being hinted at, the rates aren't going up any time soon.
Posted on 6/25/14 at 3:53 pm to Enfuego
quote:I wonder how that happened? We have a larger, supposedly more sophisticated government, with access to better information management systems, and they misstated the initial report by more than anytime in the last 38 years. I think Obama deserves a new moniker the Reviser in Chief seeing as his administration excels at negative revisions to announced statistics.
It marked the biggest downward revision from the agency’s second GDP estimate since records began in 1976.
Posted on 6/25/14 at 4:11 pm to DeltaDoc
It seems that besides the stock market the US economy has been rather stagnant overall for the past six years. I assume that the high stock market is due to the fact that there has still been growth in Asian and Middle East markets. So if there is a bubble I don't think it is here.
Posted on 6/25/14 at 4:35 pm to Poodlebrain
quote:
quote:
It marked the biggest downward revision from the agency’s second GDP estimate since records began in 1976.
I wonder how that happened? We have a larger, supposedly more sophisticated government, with access to better information management systems, and they misstated the initial report by more than anytime in the last 38 years. I think Obama deserves a new moniker the Reviser in Chief seeing as his administration excels at negative revisions to announced statistics.
Translation: Obama admin are blatant habitual liars. They have a largely liberal MSM to cover their asses and they don't give a damn how flagrant the lies appear at this point.
Posted on 6/25/14 at 4:44 pm to davesdawgs
I wonder if the revision will be on the nightly news tonight (and if so, will it be the lead, or will it be a brief mention before the stock report ["...and the stock market apparently had no concerns with the downward revision of 1st quarter GDP to -2.9%, as all three major indexes posted solid gains"])
Posted on 6/25/14 at 5:05 pm to udtiger
I told you people back in 2008 on this board that there would be no recovery from the recession due to Biz Con.... Obama is a Commie. Did you believe me? No. Do you believe me now?
The word 'certainty' is false. It's like calling a mental retard 'special.' The correct term is Business Confidence that means the administration is pro free market. This one is the least free market in American History.
There will be no growth until Obama is gone.
The word 'certainty' is false. It's like calling a mental retard 'special.' The correct term is Business Confidence that means the administration is pro free market. This one is the least free market in American History.
There will be no growth until Obama is gone.
Posted on 6/25/14 at 10:12 pm to Zach
just to keep this on the first page longer
Posted on 6/25/14 at 10:58 pm to gthog61
this -
even if it isn't true, the people believe its true. that's the leadership we have for two more years.
quote:
I told you people back in 2008 on this board that there would be no recovery from the recession due to Biz Con.... Obama is a Commie. Did you believe me? No. Do you believe me now?
even if it isn't true, the people believe its true. that's the leadership we have for two more years.
Posted on 6/25/14 at 11:05 pm to udtiger
quote:
...except for the inflation that's just around the corner
But Liberals tell us that rising prices are WONDERFUL for us. Even better, they tell us falling prices are horrible for us.
No wonder our economy is in the shitter.
Posted on 6/25/14 at 11:08 pm to udtiger
I hope they blame this on Global cooling, it will be glorious ...
Posted on 6/25/14 at 11:18 pm to CamdenTiger
They'll blame Q2's shitty number on that.
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