U.S. Economy Weakens Sharply, as Weekly Jobless Claims Rise

Gas Prices, Bad Weather Slow Economy in First Quarter

WASHINGTON -- The economy slowed sharply in the first three months of the year as high gas prices cut into consumer spending, bad weather delayed construction projects and the federal government slashed defense spending by the most in six years.

The government says the economy grew at a 1.8 percent annual rate in the January-March quarter. That was weaker than the 3.1 percent growth rate for the October-December quarter and the worst showing since last spring when the European debt crisis slowed growth to a 1.7 percent pace.

However, Federal Reserve Chairman Ben Bernanke and other economists say the slowdown last quarter is a temporary setback. They generally agree that gas prices will stabilize and the economy will grow at a 3 percent pace in each of the next three quarters.

www.foxnews.com...

In other relevant news, the Japanese economy is not doing well either.

WRAPUP 1-BOJ reckons Japan in recession, stands pat on policy

www.reuters.com...

These developments in concert with the continued weakening of the USD, increased food and gas prices, global inflation, European debt crisis, continued unabated natural disaster events, and massive social unrest, together with wars in the MENA countries, is a combination that is not looking promising, even for the most optimistic of people.

reply to post by surrealist


Temporary setback! I think that is a lie for some reason!

Originally posted by WillNiendick
reply to post by surrealist

 

Temporary setback! I think that is a lie for some reason!

Temporary setback? Is that sarcasm?

The government says the economy grew at a 1.8 percent annual rate in the January-March quarter.

Yeah guess what, even that number is BS.

Remember how you calculate GDP?

Y = C + I + E + G

Y = GDP

C = Consumer Spending

I = Investment made by industry

E = Excess of Exports over Imports

G = Government Spending

GDP = C (going up due to inflation) + I (same thing) + E (deficit) + (12% of GDP)

1.8 annual growth rate - US deficit of 12% of GDP - dollar went down by 10.08% since January 4...

So the real GDP growth rate is not 1.8% as they say, it's at least -12%... federal deficits, inflation and currency devaluation are just boosting the numbers artificially.

Once the federal government is forced to stop the deficits, the GDP will crash by at least 12% in the first year alone.

maybe this is the final step in the NWO?
Because in other ATS posts reveals many other countries trying to reach an agreement on 1 world currency maybe soon after that there might be some other disasters which would give the final push for the implementation of the 1 government.

Just an idea. what do you guys think?

Originally posted by 2DamnGood
maybe this is the final step in the NWO?
Because in other ATS posts reveals many other countries trying to reach an agreement on 1 world currency maybe soon after that there might be some other disasters which would give the final push for the implementation of the 1 government.

Just an idea. what do you guys think?

That's a good analogy, of course probably the best thing would be to erase debts and forget about world economy. We can only hope lol

reply to post by surrealist


Obama saw the news this morning and asked one of his aides if they could start another rumour about his birth certificate so people could ignore the horrors that they are perpetuating on America.

reply to post by surrealist


It's times like these that governments pray for natural disasters to sweep across the nation. If enough gets knocked out you can count on a new job in...Construction. Heck if it gets bad enough around the world they could justify a New Deal including a New Currency.

I am not coughing HAARP Tornado & Flood fiesta 2011. Not at all.

Originally posted by TheRemedial
reply to post by surrealist

 

I am not coughing HAARP Tornado & Flood fiesta 2011. Not at all.

Agreed.

Desperate government do desperate things in order to protect itself from big bad mean wolfs.

Since the Bush administration, data in the US is incredibly and increasingly been manipulated and sugar coated.

The rules used on the Jobless claims are in a way that only those that fall in for unemployment counts, this means only those with jobs that the companies pay into the unemployment benefits get to offer benefits to their employees when they are released.

But most of the majority of jobs in the US are not under unemployment benefits and will never qualify for it, this bigger group will never make it to the national statistics, and the government loves it just like that.

[atsimg]http://files.abovetopsecret.com/images/member/9651179cbd1c.jpg[/atsimg]

If you are looking at daily or weekly stats, you would be concern. But in the long term, there is absolutely no reason for the US economy to weaken.

Already, its dollar is weakened, boosting exports, espacially tech exports, as that is what US is currently focussing on, for it had drop the low value production to slave nations, thanks to the corporatists.

And thanks to the corporatists, whom thought they could gain with slavery from other nations and US consumers would stupidly buy from them, they had only done themselves in this time, for many americans whom had lost their jobs recently, are awakened to such duplicities, and are slowly shedding their consumerist habits, as well as spending rather on quality products than toxic cheap ones from China.

But thats the long term view of perhaps another 6 months.

In the short term, americans will face inflation due to lowered dollar as well as the rise in gas which automatically generates rises in all other products.

Such rises are unconscionable, because producers are only passing costs to consumers based upon what is happening on certain countries such as war, drought, famines, quakes, etc. There had been no rise or shortfall in any annual demand for supply, for events happen all the time over decades and centuries, with rise in population in tandem with rise in labour and agricultural/industrial output.

The blame lays with corporatists, who ultimately controls the world markets through their numerous shareholdings. Capitalism as Adam Smith knew it had long been wiped out long ago, replaced by monopolies in shareholding guise. Only fools will claim it is capitalism at work, of supply and demand laws.

Greed by the corporatists are killing us all. We humanity are screwed if we continue to play along their rules.

The only solution right now is to either grow your own food, or form collectives with your suburbia neighbours to buy food direct from farms, tighten belts and share what we have with each fellow human to tide over this corporatist tyrannism. The wheels for their overthrow is already in motion, for while many will prefer to lay their heads low, many more are not willing to, and are preparing for a final showdown. Starvation compells action.

I guess we'll hear TPTB mantra pretty soon regarding this:

All is well here, move along.

Originally posted by WillNiendick
reply to post by surrealist

 

Temporary setback! I think that is a lie for some reason!

Temporary setback, we need another war to fix this.

Well that is ANOTHER one on top of what is going on in Libya....