During the holidays we kept saying something was seriously wrong with the difference between what the Media was reporting, and what the actual companies involved in the economic transactions were saying. The media were intentionally misleading the broader public by selling positive economic talking points from Progressive Think Tanks of various forms (see Klugman and crew). The Legacy Media, in all its forms, was selling a line of B.S. Now the proof.
WASHINGTON DC - The nation’s economy unexpectedly shrank by 0.1 percent in the fourth quarter of 2012, casting fresh doubt on the strength of the economy recovery.
The new estimate of gross domestic product (GDP) from the Commerce Department marks the first time the economy shrank since it was in the depths of the recession in mid-2009.
The dip came as a surprise to economists. Experts had believed the U.S. would post a modest economic gain of slightly over 1 percent, after logging a 3.1 percent increase in the third quarter. (link)
As we shared back in September the 3rd quarter GDP was a total farce, a fabricated set of completely false economic data points. When people like Jack Welch were pointing it out the media were rabid in their attacks. There was no actual “growth” in the 3rd quarter either, it was all just a guise to cover for the election of Dear Leader.
It really is staggering to contemplate how complicit all the progressive machinations are in their quest to retain the ideological narrative. The media ARE the enemy.
“The slowdown in the economy could be a harbinger of things to come in 2013, with a $65 billion cut to federal spending set to begin on March 1 from sequestration unless Congress acts to reverse it. The spending reductions would likely be a drag on the economy in the second and third quarters. “It’s going to hurt,” Zandi said of the cuts.”
WTF? Federal spending cuts are going to hurt? Dude, Zero is running a trillion dollar + annual deficit on borrowed money and you want to spend more?
http://www.forbes.com/sites/paulroderickgregory/2013/01/23/obamas-witch-doctor-economists-propose-reducing-the-federal-deficit-by-spending-more/
Yes, and Obama is blaming the Republicans for the downturn in the economy.
http://thehill.com/homenews/administration/280129-white-house-republicans-responsible-for-gdp-shrink
I call this guy OBLAMER cuz all he seems capable of doing is blaming others
Yet the general public is just finding this out now, another by product indicative of Obamas policy failure that was hidden from the taxpayer and corporations during the 2012 election.
Behold the ignorance of the “low information” voters who voted in the Spender-in-Chief and his cronies for a second tour!
I can only shake my head at the use of the word “unexpectedly” in the first sentence.
It’s all coming up skunks:
http://www.latimes.com/business/money/la-fi-mo-student-loan-delinquency-20130129,0,548490.story
-.01 … at the one time of year when there should always be an improvement due to a surge in seasonal jobs and spending for the holdays.
Without peers…Worst. President. Ever.
Its all fine and good to harp on the press NOW. But make your infographics for the next election NOW because whichever puppet the progs put up to run, the platform is going to be “this time its different” and the press will stagger thier water around for them again. ( Id like to see MORE of the press hurt thier backs doing this, the Journal news dying a quick death, frankly, isnt enough)
All this pain and suffering now will be buried by the press AGAIN come campaign time, and the people will be busy once again with thier bread and circuses.
You can blame Obama for a lot of things but this would have likely happened regardless of who was president. Underneath the deficit spending lies a depression waiting to surface.
No it would not, Obama has engorged the deficit over 6 trillion in his first 4 years thru entitlements, unnecessary bailouts (should have let the normal process of bankruptcy) and pie in the sky gifts to congressional friends pork requests and crony businesses both in & out of the country.
In his first term as President Obama has ballooned the deficit more by his own policy decisions than the total sum of the previous 43 presidents.
Oh Lord won’t you buy me a Mercedes Benz
My friends all have Porsches, I must make amends.
Don’t know if you’ve noticed but rather quietly and in the background the countries in Europe are starting to bring their gold back home that they’ve had stored in our country since the end of WW II. Germany’s bringing back some 674 tons of it from the US and France over the next seven years, other European countries are making plans and Hong Kong is recalling its gold from England to be stored in a new facility they are building which will most likely be offered to other Asian countries as a secure storage facility for their national bouillon. Obama’s work is progressing, his hatred of the US as manifested by his ‘economic policies’ is making much of the world nervous about the economic condition of the US, distrusting of the Fed and scared as hell about this clown ruining their economies too. His rejection of the ‘special relationship’ that the US and Britain had had for some 200 years has undoubtedly made China bold enough to move its gold, weaken England (a country they have ‘issues’ with as Obama does) and make itself the gold guardian of Asia. Brick by brick he and his crew of national enemies are dismantling the economy and ruining what’s left of what was the world’s shining beacon of economic and personal freedom.
Will the last person still believing that the government was created to serve him/her please turn out the lights on the way to the gas chamber.
Obama’s mission was to ruin the US economy becuase he hates America. in his mind, he is succeeding beyond his wildest dreams
Yep, by crashing our economy and ruining the dollar he can reforge the country into the likeness of, oh, let’s say, Kenya, with hot water, flush toilets and…well, some measure of civilization. It appears that after some nearly 50 years of limited redistribution of income through taxing and giveaway programs the Democrats still can’t get the majority of the 47% to get up and work out that American Dream, they’d rather just sit and wait for the next check. It was a noble thought but the reality just didn’t pan out, so now instead of raising the ceiling for the 47%ers they’ll lower the floor for the rest of us. Either way they’ll have us in an ‘equal’ status. To me it’s getting to look more like it will turn into some form of Rwanda – I keep looking out for the USDA to start handing out machetes.
czarowniczy RE gold
The gold held at the NY Fed cannot be leased out per bank rules. Plus it is monetary gold and does not qualify as good delivery bars. Whatever is moved from the Fed to Germany will have to be melted and recast into good delivery bars.
I doubt that they will hold to the announced time frame of withdrawals. Holding the gold in good delivery form gives Germany far more options as to what they can do with the gold.
They better check those bars out.
After the Clinton Administration, wasn’t there some concern of the purity of some of those bars?
Hmmm……
The negative GDP number for the 4th quarter can be attributed to one time factors such as a reduction in defense spending by the federal government as well as reductions in business inventories. More than likely these were a result of apprehensions on the part of business owners due to the looming fiscal cliff at the end of the year. The more long term components of the GDP number, consumer spending for example, held steady on par with the 3rd quarters number. For a detailed report of the many factors that are used in calculating the overall number you can visit the federal reserve of Saint Louis’s website and search GDP report.