Booming Obama economy....update...GDP contracts in first quarter (unemployed, Reagan, Clinton)

[Driller1]

Originally Posted by Opin_Yunated

Weather doesn't affect the economy?

If half the country is paralyzed and trapped at home, they aren't buying things.

In fact they are.

They eat.....rent movies....keep their home warmer.....buy blankets...space heaters.

[OICU812]

Originally Posted by AeroGuyDC

The new GDP forecast for the year is a measly 1 percent. And that's assuming there is no additional downturn.

While a harsh winter is to blame for some of it, the underlying foundation of our economy is still very weak. A harsh winter should never cause GDP to go negative.

I'm sure Obama has some new job killing EPA regulations coming out this year that will further stifle the economy, and his other policies will weaken the US dollar even more, so yeah, it will downturn, and our the cost of living will increase.

[Michigantown]

Yeah we should try more trickle down economics.

[Mircea]

Originally Posted by afoigrokerkok

The revised GDP estimate for the first quarter is out and it ain't pretty. The contraction was more than expected (1% vs. 0.6%). Corporate profits were also down.

U.S. GDP Contracted at 1% Pace in First Quarter - WSJ.com

More than expected?

You know, this "...._______ unexpected..." [insert adverb] nonsense is getting freaking old.

When Americans bought into Obamacare, they bought the recession that comes with it.

I'm mad as hell now.

I should have stuck with the the math. Over a year ago I was predicting a recession 2nd Quarter 2014, because that's what the numbers showed. When Obama started playing dictator and delaying the implementation of key parts of Obamacare, I thought it would have an impact.

I never thought it would stop the recession....that's impossible....but you can delay a recession for a quarter or two. Maybe even a year, under the right conditions and if you do all the right things at all the right times.

Anyway, this is Obama's Recession....he owns it....can't blame Bush for this (but they will).

Corporate profits aren't really relevant. You need to be looking at non-corporate profits, since contrary to Liberal fantasies 97% of all companies in the US are not corporations....they are the meat.....corporations are the gravy.

That data comes from IRS tax data, except they're 2 years behind (just now publishing 2012 data), so you use that, and then interpolate using FICA and HI tax data.

Corporate profits (or lack of) do not always correlate with non-corporate profits, although they often do.

Historically, the stock market always sets records during bad economic times, so guess how bad your economy really is?

Obamacare is sucking the life out of your economy. Maybe this will be a good thing...causing people to start seriously examining Free Market reforms in healthcare that will force a decrease in the cost of medical care, which will in turn force a decrease in the cost of health plan coverage.

Originally Posted by AeroGuyDC

The new GDP forecast for the year is a measely 1 percent. And that's assuming there is no additional downturn.

While a harsh winter is to blame for some of it, the underlying foundation of our economy is still very weak. A harsh winter should never cause GDP to go negative.

Weather is never a factor.

I've been asking for 4 years how much one employee will cost under Obamacare come January 1, 2014.

None of the ACA supporters could answer the question, and in fact refused to even attempt to answer.

And so, here we all are -- it's May 2014 -- and we still have no clue how much one employee will cost under Obamacare.

Originally Posted by HappyTexan

LOL..and don't forget they changed the way GDP is calculated which gave it an automatic BUMP of 3%.
The values of paintings hanging in the WH now contribute to the GDP.

Shadowstats still calculates GDP pre last July when they changed it..-2% folks.

You've been negative for 2 consecutive quarters....4th Quarter 2013 and 1st Quarter 2014.

Maybe they can change the way they calculate GDP again.....this time count CO2 as a resource.

Expecting...

Mircea

[HappyTexan]

Originally Posted by Mircea

You've been negative for 2 consecutive quarters....4th Quarter 2013 and 1st Quarter 2014.

Maybe they can change the way they calculate GDP again.....this time count CO2 as a resource.

Expecting...

Mircea

They knew another recession was coming and changed the numbers because we all know that "officially" two consecutive quarters of negativity means.....

[AeroGuyDC]

Originally Posted by HappyTexan

Everyone likes to blame the weather.

In the summer it's "too hot" and in the winter it's "snow" or "too cold".
And we totally disregard that most shopping and consuming is happening ONLINE now.

The "harsh weather" in reality affects delivery companies and supermarkets directly.

Online shopping surpassed brick and mortar back in 2012.

I totally agree.

[Michigantown]

Originally Posted by Mircea

More than expected?

You know, this "...._______ unexpected..." [insert adverb] nonsense is getting freaking old.

When Americans bought into Obamacare, they bought the recession that comes with it.

I'm mad as hell now.

I should have stuck with the the math. Over a year ago I was predicting a recession 2nd Quarter 2014, because that's what the numbers showed. When Obama started playing dictator and delaying the implementation of key parts of Obamacare, I thought it would have an impact.

I never thought it would stop the recession....that's impossible....but you can delay a recession for a quarter or two. Maybe even a year, under the right conditions and if you do all the right things at all the right times.

Anyway, this is Obama's Recession....he owns it....can't blame Bush for this (but they will).

Corporate profits aren't really relevant. You need to be looking at non-corporate profits, since contrary to Liberal fantasies 97% of all companies in the US are not corporations....they are the meat.....corporations are the gravy.

That data comes from IRS tax data, except they're 2 years behind (just now publishing 2012 data), so you use that, and then interpolate using FICA and HI tax data.

Corporate profits (or lack of) do not always correlate with non-corporate profits, although they often do.

Historically, the stock market always sets records during bad economic times, so guess how bad your economy really is?

Obamacare is sucking the life out of your economy. Maybe this will be a good thing...causing people to start seriously examining Free Market reforms in healthcare that will force a decrease in the cost of medical care, which will in turn force a decrease in the cost of health plan coverage.





Mircea

Please tell me how Obamacare has been cause stagnant wages since the 70s which is destroying the american middle class. Whom has to take out debt to keep up consumerism which is 70% of the U.S. economy.

[HappyTexan]

Originally Posted by Michigantown

Please tell me how Obamacare has been cause stagnant wages since the 70s which is destroying the american middle class. Whom has to take out debt to keep up consumerism which is 70% of the U.S. economy.

Well we're only talking about the GDP here.
Obamacare costs to employers affect the current economy.
And soon we'll have another employer cost...mandatory retirement accounts set up (Secure Choice) or face stiff penalties.
2 states passed it already and 12 more have it in their queues.

Wage stagnation is another topic so why not start a thread on that ?

[Michigantown]

Originally Posted by HappyTexan

Well we're only talking about the GDP here.
Obamacare costs to employers affect the current economy.

Wage stagnation is another topic so why not start a thread on that ?

No it is the same topic. Wage stagnation effects GDP grow in a service economy. Not some garbage healthcare law. In the last couple decades The U.S. was able to keep GDP growth up with debt but you can't do that forever.

[HappyTexan]

Originally Posted by Michigantown

No it is the same topic. Wage stagnation effects GDP grow in a service economy. Not some garbage healthcare law. In the last couple decades The U.S. was able to keep GDP growth up with debt but ou can't do that forever.

Right so we changed the way we calculate GDP and now take the value of paintings hanging in the WH and add that to the GDP thus bumping us up a FREE 3%. We also count future pensions not paid and film royalties contributing to the GDP.

When the numbers get bad, find a new way to calculate "good numbers".

The USG has done that with inflation, unemployment, poverty, and now the GDP.
No other country on earth calculates the GDP the way we do since the July change.