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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
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.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.
lolNot 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.
No matter what you say about this recovery, we are headed over the cliff.
And we seem to replicating their mistakes.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.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.
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.
Weird, after 8 years of Dubya/GOP'job creator' policies,
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.
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.
dumb to 3's whole life depends on the whopping lie that Bush was a conservative!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