Economy's Growth Rate Revised Downward to 2.2% Pace

[Oddball]

We're not talking about BOOOOOOSH! here, you Stalinist zombie.

BTW....What happened to all that hopey-changey?

 

[Dr.House]

Just another 6 months.


LMAO.
How many times did we hear that in past years.

At what point does your Glorious Leader (and you then as a koolaid-mainlining follower) accept responsibility for his actions?

Here, in reality, people are starting to realize that the emperor has no clothes...

Ahh but you forget how the first part of the Bush presidency was.

Just a bit of partisan flip flop going on here?

Can you answer without deflecting to Boooooosh?

I'm talking about the actions and inactions of the current President... Are you saying he's done nothing since being elected?

Want to try again or do you need another hit of the koolaid?

 

[saveliberty]

Fuck you, Kool-Aid banger.

We were told that unemployment wouldn't exceed 8% and production wouldn't come around, unless Boyking's holy succubus package didn't get passed RIGHT NOW.

Well, here we are nearly a year later and nothing is better.

And we were told they KNEW where the WMDs were.

Maybe they should have allowed the stimulus to be as big as Obama wanted.

I know you wouldn't let the truth get in the way of reality, Obama didn't spend all of the stimulus package he had. Why would a bigger one have helped?

A telling part of the article:

The main factors behind the downgrade were that consumers didn't spend as much, commercial construction was weaker, business investment in equipment and software was softer and companies cut back more on their stockpiles of goods.

But much of the third quarter's growth was supported by government stimulus spending. The Cash for Clunkers rebates and a tax credit for first-time home buyers buoyed sales of cars and homes.

Recovery not as strong as previously thought - Yahoo! News

 

[rdean]

Many analysts believe the economy is on track for a better finish in the current quarter.

The economy is probably growing at nearly 4 percent in the October-to-December quarter, analysts say. If they're right, that would mark the strongest showing since 5.4 percent growth in the first quarter of 2006 -- well before the recession began. The government will release its first estimate of fourth-quarter economic activity on Jan. 29.

Recovery Weaker Than Previously Thought

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I have found that people involved in "manufacturing" are actually more reliable when it comes to info about "manufacturing".

 

[Oddball]

 

[Dr.House]

Many analysts believe the economy is on track for a better finish in the current quarter.

Would this be the same analysts who got it wrong in previous quarters?

 

[saveliberty]

Many analysts believe the economy is on track for a better finish in the current quarter.

The economy is probably growing at nearly 4 percent in the October-to-December quarter, analysts say. If they're right, that would mark the strongest showing since 5.4 percent growth in the first quarter of 2006 -- well before the recession began. The government will release its first estimate of fourth-quarter economic activity on Jan. 29.

Recovery Weaker Than Previously Thought

------------------

I have found that people involved in "manufacturing" are actually more reliable when it comes to info about "manufacturing".

Your analysts are making that prediction based on this:

Growth in the final quarter is expected to be driven mainly by companies restocking depleted inventories. Stocks of goods were slashed at a record pace during the recession. So even the smallest pickup in customer demand will force factories to step up production and boost overall economic activity in the final quarter.

Stronger sales of exports to foreign customers, as well as spending by U.S. consumers and businesses, also will help underpin fourth-quarter growth.

Did you notice sale prices didn't go to the expected 75% discounts? When you don't over stock you don't need to do that. Lower inventories means there wasn't customer demand.

 

[uscitizen]

Who expected 75% discounts?

 

[saveliberty]

Who expected 75% discounts?

Had them last year.

 

[uscitizen]

Only on stock prices.

 

[Oddball]

Who expected 75% discounts?

The dipshits who bailed out the banks and propped up the housing price bubble.

 

[Charles Stucker]

thanks for leaving such a fucking mess for this country

Are you referring to Clinton or FDR when you say that?

 

[rdean]

thanks for leaving such a fucking mess for this country

Are you referring to Clinton or FDR when you say that?

No one left a bigger mess than Bush and the Republicans.

 

[Charles Stucker]

thanks for leaving such a fucking mess for this country

Are you referring to Clinton or FDR when you say that?

No one left a bigger mess than Bush and the Republicans.

I was asking Truthmatters as I would expect him to know what he meant.
I already knew you were a deluded fool.

 

[Oddball]

thanks for leaving such a fucking mess for this country

Are you referring to Clinton or FDR when you say that?

No one left a bigger mess than Bush and the Republicans.

Bull-fuckin'-shit.

First off, the current debacle is directly connected to Woodrow Wilson, and the creation of the Fed and its worthless fiat money scam.

Secondly, the Nixon/Ford/Carter recession has the fingerprints of LBJ's unfunded Great Society nonsense all over it.

Third of all, the current papered-over problems are far form over with, and the current economic dilettantes are only making matters worse.

 

[Neotrotsky]

Today, Commerce backtracked even further.


The annualized growth number for Q3 turns out to have been 2.2%, a revision of over a third from its original estimate two months ago:
The U.S. economy grew at a much slower pace than initially thought in the third quarter, restrained by weak business investment and a slightly more aggressive liquidation of inventories, according to data on Tuesday.

The Commerce Department’s final estimate showed gross domestic product grew at a 2.2 percent annual rate instead of the 2.8 percent pace it reported last month. Analysts polled by Reuters had forecast the report to show GDP, which measures total goods and services output within U.S. borders, unrevised at a 2.8 percent growth rate in the third quarter. …

Growth was boosted by government stimulus programs, including the popular cash for clunkers and tax credit for first-time home buyers, and debate continues to rage over the sustainability of the recovery once government support wanes.

 

[Claudette]

Today, Commerce backtracked even further.


The annualized growth number for Q3 turns out to have been 2.2%, a revision of over a third from its original estimate two months ago:
The U.S. economy grew at a much slower pace than initially thought in the third quarter, restrained by weak business investment and a slightly more aggressive liquidation of inventories, according to data on Tuesday.

The Commerce Department’s final estimate showed gross domestic product grew at a 2.2 percent annual rate instead of the 2.8 percent pace it reported last month. Analysts polled by Reuters had forecast the report to show GDP, which measures total goods and services output within U.S. borders, unrevised at a 2.8 percent growth rate in the third quarter. …

Growth was boosted by government stimulus programs, including the popular cash for clunkers and tax credit for first-time home buyers, and debate continues to rage over the sustainability of the recovery once government support wanes.

Just as I thought. I wonder how the next quarter will be. Oh Wait. The Cash for Caulkers is coming up. That should improve those damned numbers doncha know!!

 

[Oddball]

What's next, trade in your old girlfriend for a new one, in Boyking's "cash for cougars" program?

 

[Toro]

Folks, that means that the so called growth rate of the economy is less than the rate of inflation.

That's 2.2% after inflation.

I will say that growth is pretty weak.

But generally, that is what happens after balance sheet / deflation recessions. Growth is tepid and unemployment remains high.

 

[uscitizen]

Umm the 3rd quarter is not yet over. Perhaps another downward adjustment will be coming?