Headed for a recession

[Dad2three]

 

[eagle1462010]

 

[eagle1462010]

 

[KissMy]

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 2.9 percent in the first quarter of 2014 according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2013, real GDP increased 2.6 percent.

http://content.govdelivery.com/attachments/USESAEI/2014/06/25/file_attachments/302348/Gross+Domestic+Product++First+Quarter+2014+%28Third+Estimate%29.pdf

Funny how these terrible results are whitewashed twice and then virtually ignored.

Early indicators of Q2 2014 do not look good either, results are tracking lower than estimates:

Overall Economy - NYTimes.com

You Idiot!

U.S. Economy Is Pulling Ahead, towing of Rest of the World & it's not a scam like Bush's sub-prime lending that caused the worlds biggest economic disaster.

 

[SteadyMercury]

We are not headed towards a recession.

I disagree. Personal spending last quarter was up a miniscule amount and accounting for inflation it was up none at all. Business investment was down.
Where is the growth going to come from for this quarter? There isnt any. Additionally productivity was down. Companies have made money over the past several years by reducing costs, not increasing top line sales. That has to end at some point. And it just did. With corporate profits not growing, consumers not spending, business not investing there is only way for the economy to go, and that's down.
Another quarter of negative growth and it's a recession.

Heh heh, this post was followed by final numbers of Q2=4.6% and Q3=5%, one of the strongest six month stretches in recent history.

Maybe this thread is like the hyperinflation ones, where the inflation is going to be right around the corner as long as it takes until those predicting it are correct.

 

[SteadyMercury]

Not to mention that China, Russia, and even Germany are looking to kill the Dollar as the Reserve Currency.

No matter what you say about this recovery, we are headed over the cliff.

lol

 

[EdwardBaiamonte]

No matter what you say about this recovery, we are headed over the cliff.

over a cliff when the economy has been recovering since 2008?? In fact you would assume we now know enough about monetary policy that we may never go off a cliff again. Don't forget the last real issue was the Depression and that was long before we knew anything about monetary policy. Now we have all that experience behind us plus the experience of many other developed countries.

 

[The Rabbi]

No matter what you say about this recovery, we are headed over the cliff.

over a cliff when the economy has been recovering since 2008?? In fact you would assume we now know enough about monetary policy that we may never go off a cliff again. Don't forget the last real issue was the Depression and that was long before we knew anything about monetary policy. Now we have all that experience behind us plus the experience of many other developed countries.

And we seem to replicating their mistakes.
Japan has had zero interest rates and government stimulus for 30 years and their economy sucks. Monetary policy cannot produce strong growth by itself.
We need pro business initiatives to make people want to take risks and start and expand business. And that wont happen with Obozo or any Democrat in the White House.

 

[Dad2three]

No matter what you say about this recovery, we are headed over the cliff.

over a cliff when the economy has been recovering since 2008?? In fact you would assume we now know enough about monetary policy that we may never go off a cliff again. Don't forget the last real issue was the Depression and that was long before we knew anything about monetary policy. Now we have all that experience behind us plus the experience of many other developed countries.

And we seem to replicating their mistakes.
Japan has had zero interest rates and government stimulus for 30 years and their economy sucks. Monetary policy cannot produce strong growth by itself.
We need pro business initiatives to make people want to take risks and start and expand business. And that wont happen with Obozo or any Democrat in the White House.

Yes, BECAUSE after Clinton's/Dems four straight surpluses, 3 AFTER Clinton vetoed the $700+ billion GOP tax cut, we saw what happens when the GOP is in charge *shaking head*



Weird, after 8 years of Dubya/GOP'job creator' policies, why was the US economy heading off the cliff in 2008, dumping 9%+ of the economy and losing 700,000+ jobs a month?

Under Obama, we have the longest PRIVATE sector job growth EVER recorded, 58 straight months, beating out BJ Bill's mark, BTW

11+ MILLION PRIVATE SECTOR JOBS CREATED SINCE HITTING DUBYA'S BOTTOM, FEB 2010 and THE 'JOB KILLER' OBAMACARES WAS PASSED, LOL

 

[EdwardBaiamonte]

Weird, after 8 years of Dubya/GOP'job creator' policies,

dumb to 3's whole life depends on the whopping lie that Bush was a conservative! You have to be a mental case to lack the courage to stop lying to yourself.

 

[EdwardBaiamonte]

We need pro business initiatives to make people want to take risks and start and expand business. And that wont happen with Obozo or any Democrat in the White House.

yes I agree:
1) eliminate corporate taxes
2) make unions illegal again
3) eliminate capital gains taxes
4) make deficits illegal to pay off debt
5) revive family and schools

 

[Dad2three]

Weird, after 8 years of Dubya/GOP'job creator' policies,

dumb to 3's whole life depends on the whopping lie that Bush was a conservative! You have to be a mental case to lack the courage to stop lying to yourself.

Nah, Dubya ONLY got the conservatives vote, twice and was supported for 6+ years right? lol

 

[EdwardBaiamonte]

Weird, after 8 years of Dubya/GOP'job creator' policies,

dumb to 3's whole life depends on the whopping lie that Bush was a conservative! You have to be a mental case to lack the courage to stop lying to yourself.

Nah, Dubya ONLY got the conservatives vote, twice and was supported for 6+ years right? lol

dumb to 3's whole life depends on the whopping lie that Bush was a conservative!