Shhh... Revised Q3 GDP Drops By 20% To 2.0%, Misses Expectations Of 2.5% By 2 SD's

[Neotrotsky]

This thread is a shining example of people who put party over country.

The true face of America?

Be Proud you "patriots".

I hear you

The Democrats refusing reasonable offers by the Republicans on the debt talks
and Papa Obama not getting involved until the end so he can try to use
it as a campaign issue

 

[likeabird03]

So basically we're borrowing 9% of our GDP per year and we're getting 2% growth for that? Sounds like a good deal to me.

 

[tinydancer]

Chris will come in and call it part of the astounding recovery.

Oh for crying out loud can we get a warning that goes "remove all beverages from your computer area and make sure you have nothing that can shoot out of your nose whilst reading post".

I have to clean up the area again. Have mercy man!

 

[tinydancer]

Why is it I feel arugala sales are going to plummet? I'm not getting a warm and fuzzy on arugala.

You go girl!!! Arugala producers are now trying to find out how they can use it in animal feed.

 

[likeabird03]

I mean seriously... 2% In a recovery?

I know history doesn't disclose it's alternatives but who else believes that we would be seeing this same level of tepid growth even without the big expensive stimulus? It's just seems like such a waste to me.

 

[RDD_1210]

This thread is a shining example of people who put party over country.

The true face of America?

Be Proud you "patriots".

I hear you

The Democrats refusing reasonable offers by the Republicans on the debt talks
and Papa Obama not getting involved until the end so he can try to use
it as a campaign issue

Where can I read the details of these "reasonable offers"?

 

[editec]

To summarize: everyone is dumping European paper, except for the ECB and Italian banks, which have no choice and instead have to double down and buy more. In the meantime, the market is going increasingly bidless as liquidity evaporates, confidence has disappeared and virtually everyone now expects a repeat of Lehman brothers. Of course, this means that when the bottom finally out from the market, the implosion of the Italian banking system, and thus economy, will be instantaneous. And when Italy goes, so goes its $2 trillion+ in sovereign debt, and at that point we will see just how effectively hedged and offloaded the rest of the world is, as contagion shifts from Italy and slowly but surely engulfs the entire world.

Chilling.

 

[Remodeling Maidiac]

Chris where are you to debunk this damaging thread?

 

[Neotrotsky]

This thread is a shining example of people who put party over country.

The true face of America?

Be Proud you "patriots".

I hear you

The Democrats refusing reasonable offers by the Republicans on the debt talks
and Papa Obama not getting involved until the end so he can try to use
it as a campaign issue

Where can I read the details of these "reasonable offers"?

The Democrats aren’t interested in tax reform, even if it produces more revenue; they’re only interested in tax increases, a rather static model that always fail.

Republicans Offer $300 Billion in New Revenue

While Democrats rejected a recent bid from Republicans on the Joint Select Committee on Deficit Reduction to create about $300 billion in new tax revenues as part of its deal to identify $1.5 trillion in savings
​

National Journal has more:

Senate GOP: Willing to Accept Up to $300 Billion in Net Tax Increases

The aide said the deal would likely be worth a total of about $1.2 trillion – the goal the super committee needs to meet to stave off mandatory sequestration under this summer’s Budget Control Act. It includes $700 billion in spending cuts over 10 years, with roughly half from entitlement cuts, the staffer said. The framework would also include savings from increases in government fees – nontax revenue.

Very reasonable, unless one is left wing


Yes the Democrats put party over country
Since they can not run on Papa Obama's record, they need something
very sad

 

[georgephillip]

So basically we're borrowing 9% of our GDP per year and we're getting 2% growth for that? Sounds like a good deal to me.

1% of our population finds it profitable.

By one account I've seen lately, Michael Bloomberg saw his net worth increase by $4.5 billion between 2008 and 2009.

Robert Scheer: The Villain Occupy Wall Street Has Been Waiting For - Robert Scheer's Columns - Truthdig

 

[georgephillip]

To summarize: everyone is dumping European paper, except for the ECB and Italian banks, which have no choice and instead have to double down and buy more. In the meantime, the market is going increasingly bidless as liquidity evaporates, confidence has disappeared and virtually everyone now expects a repeat of Lehman brothers. Of course, this means that when the bottom finally out from the market, the implosion of the Italian banking system, and thus economy, will be instantaneous. And when Italy goes, so goes its $2 trillion+ in sovereign debt, and at that point we will see just how effectively hedged and offloaded the rest of the world is, as contagion shifts from Italy and slowly but surely engulfs the entire world.

Chilling.

Matt Taibbis's new book might shed some light on related events in this country.

"In this exclusive excerpt, he describes how our cash-strapped country is auctioning off its highways, ports and even parking meters at fire sale prices — and finding eager buyers in the unregulated sovereign wealth funds of oil-rich Middle Eastern countries."

America for Sale: An Exclusive Excerpt from Matt Taibbis New Book on the Economic Meltdown | Politics News | Rolling Stone

 

[Neotrotsky]

Perhaps the Chinese will take Hawaii

and we can call it even

 

[bigrebnc1775]

Shhh... Revised Q3 GDP Drops By 20% To 2.0%, Misses Expectations Of 2.5% By 2 Standard Deviations

So much for the miraculous inventory expansion. JPM's Michael Feroli was spot on: the strategist who predicted a significantly below par revised Q3 GDP print of 2.0%, was right on the dot. Advance GDP dropped from 2.5% to 2.0%, missing expectations of an unchanged print. The impact was entirely due to Inventories detracting from growth, with the Private Inventory number declining from -1.08% to -1.55%. And to those expecting a surge in Q4 GDP based on inventory restocking, which would be virtually all Wall Street economists who missed today's number by 2 standard deviations, we have one thing to say: it ain't happening. In fact, liquidations are coming first, fast and furious with Personal Consumption coming at 2.3%, and missing estimates. Needless to say futures, are not happy.

​

Is this the same as calling old existing jobs, new jobs?

 

[Neotrotsky]

Too funny

Remember the good "Old days" when the MSM and the Left use to complain
about Bush's lower unemployment numbers

Funny how that works