No Real Recovery: GDP Grew Less Than 1% in First Half of 2011

So now the real truth. I guess TARP and all the other bailouts didn't work as they told us they would. We increased our national debt for nothing. Thanks Obama!

Atlantic News

The weak recovery has been even more anemic than we thought. The news today should be that the nation's growth domestic product fell to 1.3%, which would have been the lowest since the recession ended. Instead, however, revisions to prior quarters' GDP darken the bigger picture. The first quarter, in particular, was just a disaster. Its growth rate was revised from a modest 1.9% to just 0.4%.

So there you go. No good news, and no recovery any time soon. If you are unemployed, get used to it or move to where there are jobs.

So the economy started slowing down when the GOP locked down the house of representatives and started an all out effort on who was sleeping with who -- thanks Tea Baggers -- friggin traitors.

reply to post by spyder550


You apparently didn't read the article.

The recession looks much deeper, with a 8.9% rate of contraction for the U.S. economy in the fourth quarter of 2008, instead of the 6.8% decline previously thought. The quarter that followed also looks worse than first estimated with a 6.7% contraction, instead of 4.9%.

So this was BEFORE Repubs were sworn in.

In the recovery, only the second quarter of 2010 was revised significantly upward, to 3.8% from 1.7%. The biggest downward revision was for the first quarter of this year, as already mentioned. A few quarters were revised down significantly, however.

And after they took office, it move upward. You sir, are the traitor.

Originally posted by haarvik
reply to post by spyder550

 

You apparently didn't read the article.

The recession looks much deeper, with a 8.9% rate of contraction for the U.S. economy in the fourth quarter of 2008, instead of the 6.8% decline previously thought. The quarter that followed also looks worse than first estimated with a 6.7% contraction, instead of 4.9%.

So this was BEFORE Repubs were sworn in.

In the recovery, only the second quarter of 2010 was revised significantly upward, to 3.8% from 1.7%. The biggest downward revision was for the first quarter of this year, as already mentioned. A few quarters were revised down significantly, however.

And after they took office, it move upward. You sir, are the traitor.

Actually 2008 was before the democrats were sworn in and the chart you are showing is positive after the democrats were sworn in and slowing after the tea party was elected

As far as traitor --- me and my party are not driving the country off a cliff because the most we understand about credit is that they can put kitten pictures with american flags on the visa card. We are trying to fix the problem not really worriying about who is sleeping with whom

reply to post by spyder550

Originally posted by haarvik
reply to post by spyder550


You apparently didn't read the article.



The recession looks much deeper, with a 8.9% rate of contraction for the U.S. economy in the fourth quarter of 2008, instead of the 6.8% decline previously thought. The quarter that followed also looks worse than first estimated with a 6.7% contraction, instead of 4.9%.



So this was BEFORE Repubs were sworn in.



In the recovery, only the second quarter of 2010 was revised significantly upward, to 3.8% from 1.7%. The biggest downward revision was for the first quarter of this year, as already mentioned. A few quarters were revised down significantly, however.



And after they took office, it move upward. You sir, are the traitor.

edit on 29-7-2011 by spyder550 because: (no reason given)


Actually 2008 was before the democrats were sworn in and the chart you are showing is positive after the democrats were sworn in and slowing after the tea party was elected

As far as traitor --- me and my party are not driving the country off a cliff because the most we understand about credit is that they can put kitten pictures with american flags on the visa card. We are trying to fix the problem not really worriying about who is sleeping with whom

We can see that you know nothing about economics. Kittens and flags? Who's sleeping with whom? What are you talking about.

TAX. and SPEND. That's the only way the Boy Blunder knows how to operate. He's a total loser along with the cretins Schumer, Pelosi, and Reid.

Originally posted by mishigas


We can see that you know nothing about economics. Kittens and flags? Who's sleeping with whom? What are you talking about.

TAX. and SPEND. That's the only way the Boy Blunder knows how to operate. He's a total loser along with the cretins Schumer, Pelosi, and Reid.

Whoa do I feel schooled. Please support your argument ---- I am so tired of dealing with people whose depth is no deeper than a bumper sticker

You find improtance in 3 points.

Tax and Spend -- I remember that phrase from the 60s how is it applying her and why are you hell bent on wealth transfer from you to the very wealthy -- for 10 years we were on a Spend and Borrow not something I was comfortable on can you please justify that

Schumer - have you ever really listened to the man -- what did you disagree with

Pelosi -- She was able to deliver way more than Bohner -- I would like to know where she went wrong.

Reid - yes he is weak but frankly from what the Tea Party is passing over it dosent take much to appear resonable.

Would love to hear your passionate - if not rational thoughts on this --- I expect crikets ..........

Originally posted by haarvik
So now the real truth. I guess TARP and all the other bailouts didn't work as they told us they would. We increased our national debt for nothing. Thanks Obama!

Atlantic News

The weak recovery has been even more anemic than we thought. The news today should be that the nation's growth domestic product fell to 1.3%, which would have been the lowest since the recession ended. Instead, however, revisions to prior quarters' GDP darken the bigger picture. The first quarter, in particular, was just a disaster. Its growth rate was revised from a modest 1.9% to just 0.4%.

So there you go. No good news, and no recovery any time soon. If you are unemployed, get used to it or move to where there are jobs.

U.S. growth heading down.
U.S. unemployment rate going up.
Hmmmm.......that sounds like a recession to me.
----------
Is it too late to blame Bush?
Wait the polling says that doesn't work anymore.
Oh! I got it. Lets just blame everything on the Tea Party!

reply to post by Eurisko2012


You're right since the tea party got in and kept the republicans from doing anything substantive -- things have slowed down -- the idiocy with the debt ceiling thing - has made us look like the idiots you elected. Last year at this time I believe the gdp was growing at about 3.5. Go Tea Party -- taking America back -- way back.

Originally posted by spyder550
reply to post by Eurisko2012

 

You're right since the tea party got in and kept the republicans from doing anything substantive -- things have slowed down -- the idiocy with the debt ceiling thing - has made us look like the idiots you elected. Last year at this time I believe the gdp was growing at about 3.5. Go Tea Party -- taking America back -- way back.

Well, at least President Bush is finally off the hook. Whew!
------------------
Now - everything - can be blamed on the Tea Party.
That's a relief.
You know for a moment there i thought Obama might actually take responsibility for his actions.
-----------
What is going on???
Even the democrats are calling Obama a loser!

The American people want solutions not excuses.
Does Obama have any solutions ???

Don't expect growth any time soon. We're heading into a third world war.

Originally posted by 9Nania
Don't expect growth any time soon. We're heading into a third world war.

I'm counting on - divine intervention -.
It's been done before.
---------
P.S. I also heard about Israel bombing Iran very soon.

Politicians are expert liars. I read the other day that Obama was using August 2nd as a doomsday date to possibly get a market sell off to use as leverage to get the kind of deal he wants. He may seem stupid based on his actions but he's more like a wolf. Tax and spend is what he believes in. This economy needs to grow fast to get out of many of our problems. Unfortunately I do not see Democrats or Republicans working on any real plan that I like. The democrats want to say they are only taxing the rich but when you read the fine print, the middle class ends up paying taxes because they just pass bills without realizing what the fine print will do. Their congressional leader has said they'll have to pass a bill to see what's in it. That is not the way to run this country. The Republicans are for spending cuts but they want to reduce taxes on those who can most afford them. I disagree with that as well unless it promotes economic growth. The democrats had full control of the White House and Congress just a few months ago and they could have easily raised the debt ceiling back then. Instead they wanted some political showdown with Republicans a few months later with Obama putting a date on the calendar for doomsday. Maybe he reads ATS. I do expect fireworks though when people stop getting paid.

This may be a minority opinion but the GDP might have been better in the last quarter and politicians may have manipulated the data to show it to be worse. If that is the case, they do want a market sell off to use as leverage over the conservative Republicans. If the market had been going up due to good numbers, the pressure would be decreasing. Releasing this report at the same time might be all part of the plan. Create a crisis and get leverage and get the best deal you can as commander in chief. I believe it's backfiring but I'll wait and see how this all works out.

Note: We won't know if the GDP number will be revised until the government decides to release the revisions in another quarter or longer. If the last quarter's GDP gets revised upwards, you might decide it's been manipulated. However in a few months, this whole debt debate will likely be settled until some time later.

reply to post by orionthehunter


Well, wait a minute. The word is already out that Apple has more money than
Turbo Tax Cheat Timmy Geithner. Geithner has about $70 Billion.
According to Marketwatch it will only cost $29 Billion to pay the interest on all
of our Treasury Notes.
Well, so much for the - default- !

Originally posted by Eurisko2012

What is going on???
Even the democrats are calling Obama a loser!

edit on 30-7-2011 by Eurisko2012 because: (no reason given)

Well actually not -- with the exception that he keeps conceding to much to frothing right otherwise

We have an increase in the job market, stocks have risen, Osama bin Laden has been killed, individual income has gone up, healthcare is now available for millions more Americans, homosexuals continue to progress, the U.S. government has become more efficient, federal budgets have been cut ..... so on and so forth.

reply to post by spyder550


And what drugs are you on? The unemployment numbers have gone UP! Houses are still falling in value and the nobamacare will be the nail in the proverbial coffin come 2013.

Originally posted by spyder550

Originally posted by Eurisko2012

What is going on???
Even the democrats are calling Obama a loser!

edit on 30-7-2011 by Eurisko2012 because: (no reason given)

Well actually not -- with the exception that he keeps conceding to much to frothing right otherwise

We have an increase in the job market, stocks have risen, Osama bin Laden has been killed, individual income has gone up, healthcare is now available for millions more Americans, homosexuals continue to progress, the U.S. government has become more efficient, federal budgets have been cut ..... so on and so forth.

edit on 30-7-2011 by spyder550 because: (no reason given)

What???
The U.S. government has become more efficient?
Obama wants the government to grow the U.S. economy not the private sector.
That's why he wants high speed choo choo trains racing around everywhere.
---------------
When ObamaCare takes over start looking for the death panels. Pull the plug on grandma
and give her a pain pill to cut costs. Isn't that just wonderful?

-------------
The truth is that Obama HATES free market capitalism more than he loves America.
We need to replace him ASAP.
America tried on a socialist suit and it did not fit.
The unemployment rate is 9.2% and rising! Economic growth is slowing! We are in trouble.

Originally posted by spyder550
reply to post by Eurisko2012

 

You're right since the tea party got in and kept the republicans from doing anything substantive -- things have slowed down -- the idiocy with the debt ceiling thing - has made us look like the idiots you elected. Last year at this time I believe the gdp was growing at about 3.5. Go Tea Party -- taking America back -- way back.

democrats had the house and senate majority by 2006. Super majority by 2008.

Your attempt to blame everything on republicans and tea partiers is weak.

We have done exactly as the democrats wanted we the "stimulus" then we had QE1 and QE2. Looks like spend spend spend to me. Did it work? not at all.

The socialist practices of this nation for last several decades combined with destroying our manufacturing base thanks to said policies has played a major part in all this.

You clearly have no idea what you are talking about

And DO NOT give me some lame ass tax the rich crap as you don't even realize where all the wealth is held. Or even what rich and wealthy is.

Look at the the high earners and you will see they get all their money from CAPITAL GAINS NOT INCOME TAX!
So keep asking for higher income tax and watch as it fails like all other liberal policies for economics.

If you had something like eliminate the income tax and raise capital gains and corporate taxes to 30% you may have had some sympathy here, but no.

Now lets hear some more of your rhetoric with no substance.