US GDP shrinks 2.9% in first quarter

[Jroc]

Obamanamics taking hold

The US economy suffered its worst performance for five years in the first quarter of 2014, a third and final official estimate has shown.


The US Commerce Department said the economy shrank by an annualised rate of 2.9%

It was almost double economists' expectations for a fall of 1.7%,

A second estimate last month showed the economy shrank by 1%, blaming the unusually cold winter for the fall.

The gap between the second and third estimates is the largest on record.

Growth in the US economy has now been revised down by 3% since the first estimate.

BBC News - US GDP shrinks 2.9% in first quarter

 

[LadyGunSlinger]

I've been watching along as well. Prices are beginning to rise, alarmingly so. Do you think we're beginning to see inflation on the rise? We knew it was coming.. all the worthless fiat being printed and flooding the marketplace..

 

[Freewill]

And you have to get this news from the BBC.

Well it certainly seems like stagnation is here. negative growth, high unemployment, and inflation. Congrats Obama your economics certainly are working. Wait until the fed stops printing money and the stock market bubble bursts. In my opinion, and I don't want this to happen, is it will be much worse then in 2008.

 

[eflatminor]

Clearly, more central planning is called for...

If only we increased taxes or better yet, government spending! Hey, let's build a train...that'll do the trick!!!

Ah well, as long as our leaders in Washington are focusing on the REALLY important issues like gun control and homosexual rights...

 

[CrusaderFrank]

Yet another sign Obama switched sides and is now running Al Qaeda

Sent from my XT1080 using Tapatalk

 

[Jroc]

I've been watching along as well. Prices are beginning to rise, alarmingly so. Do you think we're beginning to see inflation on the rise? We knew it was coming.. all the worthless fiat being printed and flooding the marketplace..

There's already inflation in book. food prices are way up, gasoline is up, electricity bills are up.

 

[LadyGunSlinger]

Ughhh.... I know this has been a long time coming but still not ready for the crash.

 

[Rozman]

Not to worry...
Obama is focused like a laser on this...
Well actually he's doing something with bees.
Or doing something about gay issues.

Important stuff.

 

[eflatminor]

There's already inflation in book. food prices are way up, gasoline is up, electricity bills are up.

You know what would be great? Let's not count food and energy prices in the government figures for inflation! Cuz' after all, who really needs food and warmth...or the means to get to work?

Now, doesn't that feel better?

 

[KNB]

Food and energy prices will go down when Cannabis Sativa is legalized again.

http://fas.org/sgp/crs/misc/RL32725.pdf

 

[JakeStarkey]

Retraction is over exaggerated and due to the terrible weather caused by far right wing hot air.

 

[LadyGunSlinger]

retraction is over exaggerated and due to the terrible weather caused by far right wing hot air.

what????

 

[jon_berzerk]

Clearly, more central planning is called for...

If only we increased taxes or better yet, government spending! Hey, let's build a train...that'll do the trick!!!

Ah well, as long as our leaders in Washington are focusing on the REALLY important issues like gun control and homosexual rights...

more central planning is called for

yes besides more spending and increasing taxes

a stout plan to regulate business

and of course one can not forget to

raise the minimum wage

 

[Rotagilla]

....obviously bush's fault..or...or maybe reagan...probably nixon, too...

Wait! it's the racism!..that's what is causing this.

If white people weren't so racist none of this would be happening...

 

[jon_berzerk]

Not to worry...
Obama is focused like a laser on this...
Well actually he's doing something with bees.
Or doing something about gay issues.

Important stuff.

well he will be

unsure if he knows about it at this point in time

the media is pretty silent on it

 

[KNB]

How much did the economy shrink in 2007 before Obama took office? You know, the biggest financial crash since 1929? Overseen by fiscally Conservative George W. "I torture POWs over lies" Bush?

How much of our infrastructure could have been repaired with the $4t+ squandered on invading and torturing Iraq over lies?

 

[Mac1958]

.

-2.9%.

Fuck me.

I'm still holding out hope for a +3.0 2Q, but it's pretty clear that America's "fundamental transformation" into a Euro-social democracy is going to be a bumpy ride, indeed.

Oh well.

.

 

[JakeStarkey]

The far right believes BHO is responsible for original sin.

Pat the crazy people on their head, smile, and walk on by.

 

[CrusaderFrank]

Retraction is over exaggerated and due to the terrible weather caused by far right wing hot air.

Obama reflexive defense engaged

Sent from my XT1080 using Tapatalk

 

[JakeStarkey]

.

-2.9%.

Fuck me.

I'm still holding out hope for a +3.0 2Q, but it's pretty clear that America's "fundamental transformation" into a Euro-social democracy is going to be a bumpy ride, indeed.

Oh well..

No, it's not.