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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Q1 gdp revised to 0.4%
PostPosted: Fri Jul 29, 2011 2:00 pm Reply with quoteBack to top

Shocked That's one heck of a revision there ... from 1.9% down to 0.4%??? Are we really supposed to believe that the 1.9% was their 'best guess' at the time? -- right ....

and Q2 you ask? A pathetic 1.3% ... uhm, all along they have been telling us that the economy deteriorated from Q1 to Q2, but yet now they want us to believe that it actually improved from 0.4% to 1.3%? Can't wait to see what that Q2 number gets revised to next quarter.

But here, let me guess: in Q3, both Q1 and Q2 will be revised into negative numbers, but Q3 will be something positive like 2.5%. Then they can say that we "dipped" into another recession, but that's backward looking 'cause we're growing again.

And does anybody think for even a second that this sudden decision to be honest about GDP isn't politically motivated? I mean how could we possibly be so irresponsible as to not raise the debt ceiling when we're clearly back in recession ....

I am so sick of all those lying f*cktards in Washington, and the stuuuupid sheeple f*cktards that blindly believe everthing they say.

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"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: Q1 gdp revised to 0.4%
PostPosted: Fri Jul 29, 2011 2:47 pm Reply with quoteBack to top

bdc63 wrote:
Shocked That's one heck of a revision there ... from 1.9% down to 0.4%??? Are we really supposed to believe that the 1.9% was their 'best guess' at the time? -- right ....

and Q2 you ask? A pathetic 1.3% ... uhm, all along they have been telling us that the economy deteriorated from Q1 to Q2, but yet now they want us to believe that it actually improved from 0.4% to 1.3%? Can't wait to see what that Q2 number gets revised to next quarter.

But here, let me guess: in Q3, both Q1 and Q2 will be revised into negative numbers, but Q3 will be something positive like 2.5%. Then they can say that we "dipped" into another recession, but that's backward looking 'cause we're growing again.

And does anybody think for even a second that this sudden decision to be honest about GDP isn't politically motivated? I mean how could we possibly be so irresponsible as to not raise the debt ceiling when we're clearly back in recession ....

I am so sick of all those lying f*cktards in Washington, and the stuuuupid sheeple f*cktards that blindly believe everthing they say.



Good point. What exactly is the reason they needed to go back and do revisions to 2003?

Any politician would have to be insane to use GDP as a political tool.
Since all the quantitative easing is equal to XXX amount of GDP, therefore QE3, would not be necessary, as QE1 and QE2 had negative impact to GDP.

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bdc63
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Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Q1 gdp revised to 0.4%
PostPosted: Fri Jul 29, 2011 2:59 pm Reply with quoteBack to top

achtung wrote:
Any politician would have to be insane to use GDP as a political tool.
Since all the quantitative easing is equal to XXX amount of GDP, therefore QE3, would not be necessary, as QE1 and QE2 had negative impact to GDP.


Achtung - the problem is that you are not thinking like a f*cktard. Just imagine what Q1 GDP would have looked like if the FED hadn't done QE2 ... clearly, it was a HUGE success ...

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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dreamer
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Joined: 09 Aug 2007
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Location: Northern California

Re: Q1 gdp revised to 0.4%
PostPosted: Fri Jul 29, 2011 3:01 pm Reply with quoteBack to top

Come on bdc...ya gota be happy that we squandered our national wealth and ate our seed corn so the bankers could be bailed out...we wouldn't want our masters to suffer...I'm waiting for QE 27 to sell my PMs.

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bdc63
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Joined: 16 Feb 2007
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Location: Maryland

Re: Q1 gdp revised to 0.4%
PostPosted: Thu Oct 27, 2011 12:51 pm Reply with quoteBack to top

first estimate of Q3 GDP came in at 2.5%

Quote:
U.S. gross domestic product expanded at a 2.5 percent annual rate in the third quarter, the Commerce Department said in its first estimate on Thursday. That was a big acceleration from the 1.3 percent pace in the April-June quarter and matched economists' expectations.


A couple of good reads from ZeroHedge, re:Consumer Spending:

http://www.zerohedge.com/news/.....ed-45-days

http://www.zerohedge.com/news/.....ing-q3-gdp

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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dreamer
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Re: Q1 gdp revised to 0.4%
PostPosted: Thu Oct 27, 2011 3:52 pm Reply with quoteBack to top

Let's see...our debt goes up at 10% and our GDP goes up 2.5%...yep, that will work.

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There isn't anything so bad that the Government can't make worse...

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bdc63
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Joined: 16 Feb 2007
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Location: Maryland

Re: Q1 gdp revised to 0.4%
PostPosted: Thu Oct 27, 2011 4:07 pm Reply with quoteBack to top

dreamer wrote:
Let's see...our debt goes up at 10% and our GDP goes up 2.5%...yep, that will work.


Its all Greek to me ... ba-dum-dump

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: Q1 gdp revised to 0.4%
PostPosted: Sat Oct 29, 2011 4:09 pm Reply with quoteBack to top

Funny thing is ....

the expectations of the business spending flurry of the last quarter of the year

is not being mentioned.


Businesses, right now, are spending the money to "upgrade" because of the Tax incentives to do so.

So, when January comes around, and business spending screeches to a hault, we just may get that Negative GDP everyone is praying for.

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“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
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dreamer
Demolition Man


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Re: Q1 gdp revised to 0.4%
PostPosted: Sat Oct 29, 2011 4:25 pm Reply with quoteBack to top

I'm not praying for a negative GDP. I would love to stop the looting and start the prosecuting and see GDP expand and at the same time. I have kids who will be living through this c**p.

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There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: Q1 gdp revised to 0.4%
PostPosted: Sat Oct 29, 2011 10:42 pm Reply with quoteBack to top

You may not be, but the wall street wiz'z and QE3 apologists, were pounding the airwaves with the doom and gloom negative GDP predictions.

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“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
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