Obamanomics- the unvarnished reality

[clevergirl]

CNBC attempts to spin it as positive as it can...but facts are hard to spin.

The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

The economy may stay weak at the start of the year because Americans are coming to grips with an increase in Social Security taxes that has left them with less take-home pay.

Subpar growth has held back hiring. The economy has created about 150,000 jobs a month, on average, for the past two years. That's barely enough to reduce the unemployment rate, which has been 7.8 percent for the past two months.

Economists forecast that unemployment stayed at the still-high rate again this month. The government releases the January jobs report Friday.

The slower growth in stockpiles comes after a big jump in the third quarter. Companies frequently cut back on inventories if they anticipate a slowdown in sales. Slower inventory growth means factories likely produced less.

GDP Shows Surprise Drop for US in Fourth Quarter

 

[jwoodie]

Obamacare hits the fan 1/1/14.

 

[LoneLaugher]

And the nutters shall celebrate this bit of bad news.

Fortunately, the forecasts are for growth in 2013. Hope that doesn't upset you too much.

 

[OKTexas]

But the dear leader said everything was going in the right direction, did that rascal lie again?

 

[OKTexas]

And the nutters shall celebrate this bit of bad news.

Fortunately, the forecasts are for growth in 2013. Hope that doesn't upset you too much.

Forecast for the 4th Qtr. were for growth also. Economist are less reliable than weather forecasters.

 

[yidnar]

And the nutters shall celebrate this bit of bad news.

Fortunately, the forecasts are for growth in 2013. Hope that doesn't upset you too much.

we aren't celebrating !! we were right !libbs and Americans are all suffering under this idiot !! the difference is true Americans know it ,while libbs deny it all .

 

[BreezeWood]

first GDP decline 0.1% in 3 1/2 years since the 07-09 Great Republican Recession of 19 uninterrupted GDP declines.

primarily caused by the Tea Party Republicans in the House of Representatives by their unwillingness to compromise with the Administration for an overall economic plan to balance the nations budget and promote growth for future generations.

 

[tyroneweaver]

And the nutters shall celebrate this bit of bad news.

are you the amazing kreskin now.

A lot of us nutters have investments, a turn in the economy does us no favors

The problem is this. The stock market right now is bank driven.. The 85 million or billion they have been putting in it each month is what is creating this artificial high.

If the gop gains power they'll stop this, but of course there will be a correction and the pubs will get the blame.

 

[Oldguy]

So...whenever the economy backtracks a little, that's Obama's fault and an indication that he's totally wrong about everything, all the time.

But, when the S&P 500 is approaching an all-time high, that's NOT because of anything he's done...right?

http://www.usmessageboard.com/politics/274987-s-and-p-500-highest-since-2007-a-2.html

Bad economic news = Obama's fault

Good economic news = Something else. Sure as hell not Obama.

You guys are a trip. Thankfully, fewer and fewer American's are buying your snake oil.

 

[LoneLaugher]

I don't have to be Kreskin to see nutter after nutter rush to announce any tidbit of economic news that can be in any way spun as negative. You all have been doing this for 4 years non-stop.

Doesn't matter. The US economy is a fucking honey badger. It don't care.