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Thread: GDP Contracted at 1% Pace in First Quarter

  1. #41
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Conservative View Post
    Doesn't seem like the American public agrees with you

    RealClearPolitics - Election Other - President Obama Job Approval

    Further what you and other liberals always fail to recognize is that when you have a budget as large as Obama's the percentage change is always going to be lower but the amount always much higher. Tell me how the 3.9 trillion dollar Obama budget shows someone interested in lowering the deficit and debt? Seems that the definition of transforming America was interpreted differently by the American people vs Obama's. We are getting exactly what Obama wanted, a European socialist economy with low economic growth, high unemployment, high debt, and an economy dependent on the Federal Govt. thus more people dependent on that govt.
    Polls are BS. 60 million people voted for him just a couple years ago.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by jonny5 View Post
    Polls are BS. 60 million people voted for him just a couple years ago.
    That was four million less than in 2008 and the more people see of him the more they realize the mistake they made. Why would anyone support the transformation of this economy into a European socialist one?

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    Re: GDP Contracted at 1% Pace in First Quarter

    I'm just begging for some more shovel-ready jobs.
    "When the people find they can vote themselves money, that will herald the end of the republic." -- Benjamin Franklin

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by PerfectStorm View Post
    I'm just begging for some more shovel-ready jobs.
    Ooh ME TOO !!

    I remember when Obama was pushing that lie.

    I had this mental image of laid off professional middle aged Americans on some Highway Construction crew, or doing steal work on some decrepit bridge somewhere.

    Lol ! I knew then it was BS, but so many people bought that.

  5. #45
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Fenton View Post
    Ooh ME TOO !!

    I remember when Obama was pushing that lie.

    I had this mental image of laid off professional middle aged Americans on some Highway Construction crew, or doing steal work on some decrepit bridge somewhere.

    Lol ! I knew then it was BS, but so many people bought that.
    I think what he forgot to do was create jobs to make those shovels.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Conservative View Post
    I think what he forgot to do was create jobs to make those shovels.
    Brilliant !

    Man if you had mentioned that back in 2008 at some Obama White House function, you know as a joke, they would of have introduced you to Christina Romer and offered you a job.

    Under Secretary of Job Creation or Shovel Czar !

  7. #47
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Redress View Post
    You do realize that GDP numbers come from a government agency too?
    Exactly:

    U.S. GDP Grew A Glacial 0.1% In The First Quarter 2014




    Update May 29, 2014: U.S. GDP Dropped 1% In The First Quarter 2014, Down From First Estimate
    Source: Forbes

    That people buy this crap is what really makes for a laugh. Absent the Obamacare surge in healthcare spending this would have been a 2% contraction. It may still be revised lower as is wont to happen.

    Quote Originally Posted by justabubba View Post
    [emphasis added by bubba]
    Attachment 67167232
    Attachment 67167233
    Attachment 67167234
    the only shrinkage is in number of government jobs and rate of growth of the federal budget
    areas where the GOP says one thing and does quite another
    Whether you can call this job growth is an open question. The raw numbers are higher, but the working-age population has also grown. At the same time labor participation is at multi-decade lows. Even then, many of the jobs being "created" are lower income jobs or part-time jobs. Never mind that any "growth" in the economy is fueled entirely by various Fed and government injections that are unsustainable and distort the market. Stocks jumping higher on such horrible news is a pretty good indicator of how rigged the market has become. All meaningful indicators point to a recession starting this year and, unlike Clinton, Obama will not be able to bail out the system and paper over the losses so that it gets pushed into the next guy's term. The U.S. is still in bailout economy conditions and it would take the kind of money injection that usually precedes hyperinflationary sovereign default crises to prevent another serious downturn.
    "For what is Evil but Good-tortured by its own hunger and thirst?"
    - Khalil Gibran

  8. #48
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Demon of Light View Post
    Exactly:



    Source: Forbes

    That people buy this crap is what really makes for a laugh. Absent the Obamacare surge in healthcare spending this would have been a 2% contraction. It may still be revised lower as is wont to happen.



    Whether you can call this job growth is an open question. The raw numbers are higher, but the working-age population has also grown. At the same time labor participation is at multi-decade lows. Even then, many of the jobs being "created" are lower income jobs or part-time jobs. Never mind that any "growth" in the economy is fueled entirely by various Fed and government injections that are unsustainable and distort the market. Stocks jumping higher on such horrible news is a pretty good indicator of how rigged the market has become. All meaningful indicators point to a recession starting this year and, unlike Clinton, Obama will not be able to bail out the system and paper over the losses so that it gets pushed into the next guy's term. The U.S. is still in bailout economy conditions and it would take the kind of money injection that usually precedes hyperinflationary sovereign default crises to prevent another serious downturn.
    So Stimulus ? No, we've had enough of that.

    Nothing going to prevent the downturn because we have a ideologue who's loyal to his Progressive roots rather than a objective leader who's willing to consider alternate solutions to growing our economy.

    The Political implications are more important than how to help Americans who are struggling with chronic joblessness and dependency.
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

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    Re: GDP Contracted at 1% Pace in First Quarter

    Side effects of the GBR.
    bears, bulls, white sox fan 4 life!!!

  10. #50
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by 99percenter View Post
    Side effects of the GBR.
    Yes, going on 6 years and its still the last guys fault....

    Lol !

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