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All-TigerNet [11655]
TigerPulse: 100%
Posts: 9807
Joined: 5/17/02
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Ecomony Shrinks 0.1%
Jan 30, 2013, 8:44 AM
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Thanks Obama! With consumer confidence tanking and people with 2% less in their paychecks, I can see this quarter being negative as well.
Obama Recession!
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All-TigerNet [11208]
TigerPulse: 100%
Posts: 18394
Joined: 2/2/03
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He inherited a mess from the previous term.***
Jan 30, 2013, 9:10 AM
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Ring of Honor [32958]
TigerPulse: 100%
Posts: 53106
Joined: 3/5/02
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Fact-o-Meter says
Jan 30, 2013, 9:12 AM
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Yep.
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All-In [30522]
TigerPulse: 100%
Posts: 62666
Joined: 10/4/99
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I still say it's
Jan 30, 2013, 9:29 AM
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Clinton's fault! 
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MVP [503]
TigerPulse: 100%
Posts: 699
Joined: 10/27/03
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Rock Defender [54]
TigerPulse: 90%
Posts: 35
Joined: 11/30/98
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Government spending -1.33%.
Jan 30, 2013, 9:23 AM
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Yet even in this "austere" quarter of significant reductions in defense spending the government still borrowed $300+ billion, the interest on which itself resulted in -$5B to GDP.
Down is up.
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Oculus Spirit [97984]
TigerPulse: 100%
Posts: 65046
Joined: 7/13/02
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Government deficit = 133%
Jan 30, 2013, 9:41 AM
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So if we cut our spending about 100X as much as we've already cut it.....we would have a balanced budget.
Hurah!
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All-TigerNet [10171]
TigerPulse: 79%
Posts: 17654
Joined: 11/30/98
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Not bad numbers..
Jan 30, 2013, 11:56 AM
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"real disposable personal income increased 6.8 percent," which is really solid. Consequently, both personal consumption and personal savings went up. Nonresidential fixed investment went up 8.4 percent. Residential investment went up 15.3 percent. So people are consuming more and saving more and businesses are investing more and we're adding to the housing stock. That's all good stuff.
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CU Medallion [50635]
TigerPulse: 100%
Posts: 43019
Joined: 12/3/98
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who are these people that can both save and spend more***
Jan 30, 2013, 12:15 PM
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All-Pro [673]
TigerPulse: 96%
Posts: 980
Joined: 4/22/11
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Its called inflation stupid
Jan 30, 2013, 12:18 PM
[ in reply to Not bad numbers.. ] |
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The value of the dollar has plummeted due to non stop money printing. You can't measure these statistics in currencies which vary in value. In terms of REAL commodities people have less.
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110%er [6101]
TigerPulse: 85%
Posts: 10117
Joined: 11/1/11
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Re: Not bad numbers..
Jan 31, 2013, 9:18 AM
[ in reply to Not bad numbers.. ] |
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2 consecutive quarters of negative GDP by definition is a recession. That's ONE. Duh.
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MVP [512]
TigerPulse: 93%
Posts: 891
Joined: 10/12/06
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Re: Ecomony Shrinks 0.1%
Jan 31, 2013, 10:30 AM
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http://www.npr.org/2013/01/30/170691557/u-s-economy-shrinks-for-first-time-in-over-three-years
"ZARROLI: Yeah, there were several factors. I mean, there was a big drop in government spending, especially in defense. Defense spending fell by 22 percent. Now, that was partly because of the fiscal cliff, apparently. In other words, you had just government agencies that were facing spending cuts and, you know, the idea is maybe they cut back in spending in sort of an anticipation of that."
Spending cuts will always shrink the economy.
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