Fantastic GDP growth for 1st quarter 2014 - Congrats Obama admin. Job well done!

  • Posted by a hidden member.
    Log in to view his profile

    Apr 30, 2014 6:35 PM GMT
    http://apnews.myway.com/article/20140430/us-economy-gdp-09b1567225.html
  • Posted by a hidden member.
    Log in to view his profile

    Apr 30, 2014 7:02 PM GMT

    Ours was 0.2 and we suffered nearly nothing compared to the US in the great 2008 collapse. I'd say 0.1 is about right, comparably.
  • Posted by a hidden member.
    Log in to view his profile

    Apr 30, 2014 7:49 PM GMT
    US growth is now (yes, under Obama) 6.5% ahead of its pre-recession peak. Our economy here in the UK is said to be doing very well, but we are still lagging behind our own pre-recession GDP peak.

    So, yes, it is pretty 'fantastic'.
  • Destinharbor

    Posts: 4435

    Apr 30, 2014 9:15 PM GMT
    Following the collapse in 07, the US under Obama followed well established Keynsian economic principals and the doctrines taught in all good Economics schools in the better colleges. These were the theories pounded out following the crash of '29 and weeded out mostly under Nixon and the decade following.

    The UK and much of Europe actually fell back on "conservative" policies considered the exact wrong thing to do by all serious scholars of economic history, the very policies that drove the Great Depression. That's why the US recovered (mostly) faster than Europe.

    The old adage applies, those that know nothing of history are destined to repeat it.
  • DCEric

    Posts: 3713

    Apr 30, 2014 9:32 PM GMT
    Destinharbor saidFollowing the collapse in 07, the US under Obama followed well established Keynsian economic principals and the doctrines taught in all good Economics schools in the better colleges. These were the theories pounded out following the crash of '29 and weeded out mostly under Nixon and the decade following.

    The UK and much of Europe actually fell back on "conservative" policies considered the exact wrong thing to do by all serious scholars of economic history, the very policies that drove the Great Depression. That's why the US recovered (mostly) faster than Europe.

    The old adage applies, those that know nothing of history are destined to repeat it.


    +1
  • tj85016

    Posts: 4123

    Apr 30, 2014 9:36 PM GMT
    GDP growth/decline is a pretty bad way to define the economic health of a nation. And considering every dollar of QE debases every existing unit of currency and the CPI calculations are a complete sham, we have a long way to go
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 12:23 AM GMT
    The Dear Leader and his accomplices are successfully hollowing out the private sector, unleashing government, and turning the U.S. into a country with turd-world economic growth.

    If it weren't for jackass spending on Maobamacare, the U.S. would have had negative economic growth in the 1st quarter. There is no economic recovery. It's all fudged numbers, like the rest of the lies this Marxist thug regime tells.

    The Dear Leader is truly the anti-Reagan. Maobama's toadies, including a Conga line of them at RJ, will blindly support and make excuses for the economic and other destruction caused by Maobama.

    After six years, there is not one good significant thing which this nuisance regime has done for the American people as a whole.

    Obama1Percent.jpg

    Maobama's toadies, his jackass political party, and his jackass economic policies, prove beyond a reasonable doubt that "Economic ignorance is the mainstay of the Democrat Party."

    With all the needless, incalculable harm, misery, and destruction, which jackass economic policies have caused and will continue to cause, one could wonder how Maobama and his accomplices sleep at night.

    Not to worry, for their delusions supply them with excuses for their destructiveness, mainly -- blame the Republicans! Blame the Tea Party!

    30c99vm.jpg




  • fitartistsf

    Posts: 638

    May 01, 2014 12:32 AM GMT
    Of course, any upswing in the GDP, economy, housing... anything, will NEVER be reported on Faux News Network... it all has to be bad news to validate their existence as a fair and balanced, and UN-biased network....
  • tj85016

    Posts: 4123

    May 01, 2014 12:46 AM GMT
    the only recovery we've had in the economy and housing was brought on by $85 BILLION per month in Fed injections/POMO and a mortgage bailout. All this Fed QE has only quieted the underlying problems and debased the currency
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 12:48 AM GMT
    freedomisntfree saidhttp://apnews.myway.com/article/20140430/us-economy-gdp-09b1567225.html


    OP is a Deleted/Hidden Member. Curious how his posts are here.
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 12:50 AM GMT
    [quote][cite]jockfever said[/cite]The Dear Leader and his accomplices are successfully hollowing out the private sector, unleashing government, and turning the U.S. into a country with turd-world economic growth.

    If it weren't for jackass government spending on Maobamacare, the U.S. would have had negative economic growth in the 1st quarter. There is no economic recovery. It's all fudged numbers, like the rest of the lies this Marxist thug regime tells.

    The Dear Leader is truly the anti-Reagan. Maobama's toadies, including a Conga line of them at RJ, will blindly support and make excuses for the economic and other destruction caused by Maobama.

    After six years, there is not one good significant thing which this nuisance regime has done for the American people as a whole.

    Obama1Percent.jpg

    Maobama's toadies, his jackass political party, and his jackass economic policies, prove beyond a reasonable doubt that "Economic ignorance is the mainstay of the Democrat Party."

    With all the needless, incalculable harm, misery, and destruction, which jackass economic policies have caused and will continue to cause, one could wonder how Maobama and his accomplices sleep at night.

    Not to worry, for their delusions supply them with excuses for their destructiveness, mainly -- blame the Republicans! Blame the Tea Party!

    30c99vm.jpg




    I guess Wall Street (the symbol of free market capitalism) loves Marxist Muslim socialists as president since the market has more than doubled on Obama’s watch.
  • tj85016

    Posts: 4123

    May 01, 2014 12:52 AM GMT
    ^^

    it wasn't Obama's watch that did that, it was Bernanke's
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 12:54 AM GMT
    http://nativeborncitizen.files.wordpress.com/2014/02/obama.jpg

    I guess Wall Street (the symbol of free market capitalism) loves Marxist Muslim socialists as president since the market has more than doubled on Obama’s watch.



  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 12:56 AM GMT
    tj85016 saidthe only recovery we've had in the economy and housing was brought on by $85 BILLION per month in Fed injections/POMO and a mortgage bailout. All this Fed QE has only quieted the underlying problems and debased the currency


    I hear you. This indignation over the corrupt financial system unites everyone from the Tea Party nuts to Left Wing nuts, even the Right Wing nuts.

  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 12:58 AM GMT
    tj85016 said^^

    it wasn't Obama's watch that did that, it was Bernanke's


    Hair-splitting, two-faced douchebags are rare around here, but not rare enough.

    Come out of that Conservative closet, and stop playing the field. Your antics are beginning to bore me.
  • tj85016

    Posts: 4123

    May 01, 2014 1:01 AM GMT
    credo said
    tj85016 said^^

    it wasn't Obama's watch that did that, it was Bernanke's


    Hair-splitting, two-faced douchebags are rare around here, but not rare enough.

    Come out of that Conservative closet, and stop playing the field. Your antics are beginning to bore me.


    as if you actually know anything, I like Eliz Warren, but Obama has been a terrible president
  • Whipmagic

    Posts: 1481

    May 01, 2014 1:30 AM GMT
    In Q1 this year I was mostly huddled up at home, waiting for this awful winter to pass instead of going out and spending money. So I wouldn't be surprised if the exceptionally harsh winter had something to do with the slow growth (growth nonetheless!)
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 1:44 AM GMT
    50 Years Into the War on Poverty, Hardship Hits Back
    http://mobile.nytimes.com/2014/04/21/us/50-years-into-the-war-on-poverty-hardship-hits-back.html

    But a half-century later, with the poverty rate again on the rise, hardship seems merely to have taken on a new face in McDowell County. The economy is declining along with the coal industry, towns are hollowed out as people flee, and communities are scarred by family dissolution, prescription drug abuse and a high rate of imprisonment.

    Fifty years after the war on poverty began, its anniversary is being observed with academic conferences and ideological sparring — often focused, explicitly or implicitly, on the “culture” of poor urban residents. Almost forgotten is how many ways poverty plays out in America, and how much long-term poverty is a rural problem.
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 2:28 AM GMT
    Democrat said[quote][cite]jockfever said[/cite]The Dear Leader and his accomplices are successfully hollowing out the private sector, unleashing government, and turning the U.S. into a country with turd-world economic growth.

    If it weren't for jackass government spending on Maobamacare, the U.S. would have had negative economic growth in the 1st quarter. There is no economic recovery. It's all fudged numbers, like the rest of the lies this Marxist thug regime tells.

    The Dear Leader is truly the anti-Reagan. Maobama's toadies, including a Conga line of them at RJ, will blindly support and make excuses for the economic and other destruction caused by Maobama.

    After six years, there is not one good significant thing which this nuisance regime has done for the American people as a whole.

    Obama1Percent.jpg

    Maobama's toadies, his jackass political party, and his jackass economic policies, prove beyond a reasonable doubt that "Economic ignorance is the mainstay of the Democrat Party."

    With all the needless, incalculable harm, misery, and destruction, which jackass economic policies have caused and will continue to cause, one could wonder how Maobama and his accomplices sleep at night.

    Not to worry, for their delusions supply them with excuses for their destructiveness, mainly -- blame the Republicans! Blame the Tea Party!

    30c99vm.jpg




    I guess Wall Street (the symbol of free market capitalism) loves Marxist Muslim socialists as president since the market has more than doubled on Obama’s watch.



    Yeah, it helped the rich people on wall st. Too bad no one else can find a job, and when they do it's part time with no benefits. Not to mention the millions of other people losing their healthcare benefits.
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 2:42 AM GMT
    If you look at the underlying components, most of the drop off can be attributed to bad weather. Also, 0.7% was a drop in inventories, 0.7% was a drop in exports.

    Consumer spending growth, which accounts for 70% of the US economy, grew by 3.0%, which is VERY healthy. For services, the growth was the highest in 14 years.

    Look for this number to revised up and the Q@ numbers to come in in the 3-4% range.

    Also of note is the ADP employment report, which showed above consensus payroll growth of 220K in April. It was a good month economically.

    The recovery continues and things are looking good.
  • camfer

    Posts: 892

    May 01, 2014 3:10 AM GMT
    Apothegms4Less said

    I hear you. This indignation over the corrupt financial system unites everyone from the Tea Party nuts to Left Wing nuts, even the Right Wing nuts.

    NW5.jpg
    righty tighty, lefty loosey.
  • tj85016

    Posts: 4123

    May 01, 2014 3:46 AM GMT
    Here's what's in the GDP report

    Exports and investment, mostly. These are very bad places to take deceleration as they will flow through to PCE in coming quarters.

    PCE was up 3% (annualized) which compares well against 3.3% from last quarter right up until you realize that nearly all of it was due to government social benefits outlays

    Non-residential fixed investment was down 2.1%; and the bad news was not in structures; it was a equipment (down 5.5%.) Residential "investment" was down 5.7% too. Housing is now in decline.

    Exports were down a massive 7.6%; that's nearly into collapse territory. Imports were also down, but not much -- just 1.4%. Note that imports are considered a subtraction from GDP while exports are an addition. The relative balance is going the wrong way.

    We're still spending more than we take in, which means we're accumulating more debt. So much for the "improving personal balance sheets" that the clowns on TV like to cite -- it's been a lie all along, and still is.
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 4:09 AM GMT
    While it wasn't the strongest GDP report, the majority of the downside was weather related. The economy picked up in March and the jobs reports have remained consistent.

    The 3.0% increase in consumer spending was substantial. If you combine this GDP report with the other economic information that has been coming out, the trend is still upward and definitely positive.
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 4:16 AM GMT
    Apothegms4Less said
    freedomisntfree saidhttp://apnews.myway.com/article/20140430/us-economy-gdp-09b1567225.html


    OP is a Deleted/Hidden Member. Curious how his posts are here.


    Because I posted them here.

    Any other questions?
  • Posted by a hidden member.
    Log in to view his profile

    May 01, 2014 4:18 AM GMT
    camfer said
    Apothegms4Less said

    I hear you. This indignation over the corrupt financial system unites everyone from the Tea Party nuts to Left Wing nuts, even the Right Wing nuts.

    NW5.jpg
    righty tighty, lefty loosey.


    Except that we have a bunch of left handed threads around here.