2011 GDP Q-1 est. 1.8%-2.0%

Discussion in 'Economy' started by Trajan, Apr 28, 2011.

  1. Trajan
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    Trajan conscientia mille testes

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    well, they didn't say 'unexpectedly' , but then again thats an AP favorite.

    1.8-2.0....hell 2.5%:doubt:



    GDP Grows by 1.8 Percent in First Quarter

    Advance estimate slightly lower than forecast.

    By Katy O'Donnell
    April 28, 2011 | 8:37 a.m.
    Updated: April 28, 2011 | 8:42 a.m.

    Real gross domestic product grew at an annual rate of 1.8 percent from the fourth quarter of 2010 to the first quarter of 2011, slightly less than forecast.

    Economists expected slow growth due to rising gas prices and winter weather. The median Bloomberg News estimate was a 2 percent annual pace. In the fourth quarter of 2010, real GDP increased 3.1 percent (annualized).

    NationalJournal.com - GDP Grows by 1.8 Percent in First Quarter - Thursday, April 28, 2011



    more detailed analysis here.

    Economy in U.S. Grew 1.8% in First Quarter, Less Than Forecast - Bloomberg
     
  2. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The STAGFLATION is Heeerrrrrrrrreeeee!!!!!!!!!!!!

    In related news, WalMart announced that its customers are RUNNING OUT OF MONEY.


    Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.

    "We're seeing core consumers under a lot of pressure," Duke said at an event in New York. "There's no doubt that rising fuel prices are having an impact."

    Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.

    Lately, they're "running out of money" at a faster clip, he said...


    Wal-Mart shoppers running out of money - Apr. 27, 2011


    So where does this leave us?

    - Interest rates are so low that raising them to combat inflation will send the economy into a recession.
    - The Debt is so high that increasing Spending will just further trash the dollar and lead to more inflation.
    - The remaining option is to CUT SPENDING, TAXES AND REGULATION AND QUIT STRANGLING THE PRIVATE SECTOR.

    The last option includes the obvious and necessary cessation of Obama's WAR ON DOMESTIC OIL.
     
    Last edited: Apr 28, 2011
  3. Oddball
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    Oddball BANNED Supporting Member

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  4. Toro
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    Toro Diamond Member

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    Putt putt putt...
     
  5. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    The estimate for the rest of the year is pegged at 3%. Ain't gonna happen IMHO if the price of food and gas doesn't go down. Plus, housing hasn't hit bottom yet, has it?
     
  6. KissMy
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    We are firmly in the grasp of a double dip recession. 1099 workers & small business owners who can't collect their debt are suffering the worst. There is no relief for them. Stimulus tax credits & unemployment does not apply to these folks. They are just screwed.

    We need a Bush stimulus where everyone gets money, not just certain political favorite groups. If the Fed is printing free money it should go to the citizens first. After all it it the citizens who will have to pay it back. Government employees & contractors should not get the free money first.
     
  7. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    There is no more FREE MONEY at this point. Our currency has been trashed to the point where printing more just results in inflation.

    The way to get more money into workers and small business pockets is to CUT TAXES.
     
  8. KissMy
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    If small business is not turning a profit then tax cuts are not helping them. We need a fast acting stimulus now. Handing out cash to everyone evenly is the fastest stimulus there is. If bureaucrats get involved you will never see a dime. If we took the $1.5 Trillion deficit money that has to be printed every year & divided it among our 300 million citizens it would be $5,000 a year each. There would be no recession or depression if that happened. Tax revenues would skyrocket.

    Paying people unemployment is paying them not to work. Tax cuts only helps those who are not hurting because they are already earning enough to pay taxes. Cash to everyone is fair, helps the ones who fall through the cracks & does not reward bad behavior. It will increase tax revenue faster than anything.
     
    Last edited: Apr 28, 2011
  9. Toro
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    Disappointing number but maybe not as bad as it looks. It appears that a decline in government spending was the primary cause as total government spending declined 8%. Also hurting was a decline in real estate spending. Net exports was also a drag. However personal consumption was fine and business investment was pretty good.
     
  10. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    They usually save that for jobless claims:
    U.S. Stock Futures Extend Drop After GDP, Jobless Claims Reports - Businessweek
    I would guess that the word "unexpectedly" is used to convey some sort of sympathy on the part of the reporter?

    Whereas "forecast" implies that smart people are crunching the numbers and giving it an educated guess. Just like all weathermen are called "Meteorologists" to lend credence to their guessing game.

    Fuck I don't know! :lol:
     

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