Real GDP Collapse: 1.7% For Year...

Discussion in 'Politics' started by paulitician, Jan 27, 2012.

  1. paulitician
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    paulitician Platinum Member Supporting Member

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    That's the final, pathetic growth number for 2011.


    From the just-released GDP report:

    Real GDP increased 1.7 percent in 2011 (that is, from the 2010 annual level to the 2011 annual level), compared with an increase of 3.0 percent in 2010.

    The increase in real GDP in 2011 primarily reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment that were partly offset by negative contributions from state and local government spending, private inventory investment, and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.

    Not exactly a barnburner.




    Read more: 2011 GDP: 1.7%
     
  2. TakeAStepBack
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    TakeAStepBack Gold Member

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    Bush did it.
     
  3. ScienceRocks
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    ScienceRocks Blue dog all the way!

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    Obama will blame Bush for it all the way to 2016 if he gets a second term. The guy will not take the heat for his economy. Reason to throw him out!
     
  4. Katzndogz
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    Katzndogz Diamond Member

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    I wish it were as good as 1.7%.

    It is really 0.4%

    News Release: Gross Domestic Product and Corporate Profits

    Real gross domestic product -- the output of goods and services produced by labor and property
    located in the United States -- increased at an annual rate of 1.0 percent in the second quarter of 2011,
    (that is, from the first quarter to the second quarter), according to the "second" estimate released by the
    Bureau of Economic Analysis. In the first quarter, real GDP increased 0.4 percent.
     
  5. Claudette
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    Claudette Gold Member

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    Have no fear

    Its all Bush's fault.

    Barry should sail in for his second term.
     
  6. g5000
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    g5000 Diamond Member

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    Do you understand what you read?

    0.4% is the figure for the FIRST QUARTER. Not for the year.
     
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  7. 8537
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    8537 Senior Member

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    ^needs course in reading comprehension. You even took the time to put your ignorance in bold print.
     
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  8. g5000
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    g5000 Diamond Member

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    And the Fed said a couple days ago that growth for 2012 will be lower than 2011. And they said they will keep interest rates low through 2014, which I find the most attention-worthy bit of all. That they actually give a date, and one that far out, for keeping interest rates low is a terrible omen.

    The Fed historically has never given out-to dates. Then last fall they said they would keep interest rates around zero out to the beginning of 2013. My jaw hit the floor when I first saw that.

    And now they are saying to the end of 2014.

    Not only that, Bernanke indicated another round of quantitative easing is back on the table.


    It's the damned euro crisis and financial derivatives. Same stupid derivatives reindeer games, same players on Wall Street. The only difference from the 2008-present global credit crisis is the underlying assets in the financial WMDs. We are back at the abyss, and this time the rubes won't be able to blame the CRA or negroes for it.

    Maybe then everyone will wake up to the real problems, the real causes. And the real solutions that are necessary.

    If you don't like Occupy Wall Streeters or socialists or poor people, you better get used to them. Wall Street is going to make a lot more of them.
     
    Last edited: Jan 27, 2012
  9. JimH52
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    JimH52 Gold Member

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  10. g5000
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    g5000 Diamond Member

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    The Fed's outlook has dimmed. GDP is trending downward at the moment. Stock market volumes are sluggish. Everyone is holding their breath over the euro crisis.

    There are tense negotiations going on right now between Greece and its bondholders. A lot of credit event horizons are in the balance.

    Someone is going to have to take it in the shorts, and everyone knows its the bondholders. The question is exactly how the default will be defined.

    If they screw this up, there will be a very nasty financial chain reaction. Thermonuclear.

    Better to have been paying attention all along than try to figure it out later and look for the nearest scapegoat. Like the CRA or something...
     
    Last edited: Jan 27, 2012

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