“Unexpectedly” – First Quarter GDP Results Collapse – Faltering Economy…

Move along, move along folks, nothing to see here…

The February trade gap widened by about a half-billion dollars to — $62.9 billion

shocked_i_tell_you(Via CNBC) First-quarter growth is now tracking at just 0.9 percent, after new data showed surprising weakness in consumer spending and a wider-than-expected trade gap.

According to the CNBC/Moody’s Analytics rapid update, economists now see the sluggish growth pace based on already reported data, down from 1.4 percent last week. According to the rapid update, economists have a median forecast of 1.6 percent growth in first-quarter GDP, which includes their estimates for data not yet released.

“It’s not a polar vortex winter. You can’t blame the weather this year. It’s the consumer. I think there’s a problem with the measurement but at the end of the day if the world were as good as we’d hoped, people would feel better and it’s not showing up,” said Diane Swonk of DS Economics.

Personal income rose 0.2 percent in February, a tenth above expectations, and spending was up 0.1 percent. But revisions to January’s spending data wiped out earlier solid gains and showed spending marginally higher — at 0.1 percent from an earlier 0.5 percent. (read more)

Store Closed

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92 Responses to “Unexpectedly” – First Quarter GDP Results Collapse – Faltering Economy…

  1. ASW says:

    Thanks, Obama!

    I can’t wait to elect pro-growth, pro-American Donald Trump as President.

    Liked by 17 people

    • scott says:

      It isn’t just Obama. It is McConnell, Ryan, Boehner, Mcain,..

      Liked by 13 people

      • Darrell Richardson says:

        McCain is toast this election he has used and abused us here in AZ long enough and we can’t wait to fire his ass.

        Liked by 11 people

        • chrystalia99 says:

          Then I hope you’re working in the system, as here in Tucson, the local high ranking GOPers informed me at our meeting to elect state delegates (I got a slot and made sure we locked in a super majority of Trump voters) that Kelli ward “has peaked” wink wink.

          The GOPer went on to tell me that MC Cain should be allowed to retire after this cycle, when there can be a smooth transition. So, the GOPers/Mc Cain already have the replacement picked. I am trying desperately to get more people to volunteer for currently empty precinct chairs, or any scut work at all so they are in position to grab precinct chairs post general election.

          I got appointed to mine, as it has been empty for a few years now (deep blue section of Tucson, only 230 Rs in my precinct). We need as many of the seats now as possible, so we can begin a serious infiltration and gather intel, and quietly push Kelli Ward, plus Edna San Miguel against Grijalva.

          We also need a candidate to field against Martha Mc Sally if possible, working on that sigh. If you”re willing to join the effort you can drop me a line on my blog so we can coordinate. I am also setting up a private FB page/group so we can trade intel and make sure that Trump keeps as many of his delegates as possible–to do that *we must get Trump voters in state delegate slots in the primaries coming up, and find existing PC holders who will vote them for national.

          Trump has already lost delegates in LA and TX, and will lose more, without this. And there is no way to sue, because it’s all legal according to the state rules in those states and others. We all need to work together to combat the GOPers.

          Liked by 5 people

          • Patricia in AZ says:

            I agree filling empty PC seats is key to keeping the republic and getting Trump delegates elected at what is sure to be an AZ state convention full of trickery and chicanery. but I have a question about your senate candidate, Ward. How is it that she filed in July, has been traveling and campaigning all over the state and filed her end of the year FEC report with no income and no expenses? Did she file a false report, because she has that big RV all painted up but even if that was donated, it had to show up in the Donations line. Gas, food, campaign materials it all adds up. I naturally also checked McCain and Alex Meluskey’s reports. Lots of money for McCain from his liberal buddies and a fair amount reported on Meluskey’s report. Of course, he filed in January 2015, five months before Ward.

            Liked by 1 person

            • chrystalia99 says:

              Hmm. Don’t know where you got the data from, but Open secrets pulled reports from the December 2015 FEC filings, and all her cash is there, where it belongs:


              Here’s a BB story from October 15 detailing her fundraising at that point:


              This is the GOPer take on Ward, BTW:
              They brought up what those like you and I who check these things knew, that Ward didn’t raise “over a half million dollars”, she only raised about 400,000, and donated 85,00 grand of her own, shown on the FEC filings they had available at the time.



              And BallotPedia’s latest, they also pull from FEC directly.


              I personally use Open Secrets as my go to for candidate information. Kelli is a mixed bag IMO–she has Cruz support, but a more conservative voting position at state level than Mc Cain has at fed level.

              She also has a good slate of endorsements. The main reason to get her in, at this time, is to send the strongest message possible to the GOPers, and derail their plans to slide their anointed replacement for Mc Cain into the seat.

              It also gives us time to identify their choice, and line up a replacement for Flake for the following cycle. Given that our only other actual choice to oust Mc Cain is to give the seat to Kirkpatrick, we’re sort of stuck.

              But on the plus side, Ward is no dumb bunny. If we get her into that seat against all the odds, she’ll likely have the sense to vote properly, at least for a term or two.

              Because, quite simply, she will have absolute proof that we can replace her, easily, and won’t hesitate to do so.

              However it works out–Mc Cain has to go. The GOPers are grooming his next replacement, and solidifying Flake’s position, and they are both worse than useless at this point.

              Hijacking the party not only means grabbing the reins of power, it also means stomping the GOPers, hard. Kleptocrats can be dealt with, but you have to show them you aren’t vulnerable to their bag of tricks first.

              They’re like proverbial mules, in that they need to be walloped up the side of the head with a 2×4 to get their attention. Then, you can train them.
              My main focus at the moment is filling precinct seats, and planning for the state convention and the attendant GOPer tricks we can expect there.

              Liked by 2 people

          • Trump MAGA says:

            Thank you for all your hard work. Is it a good idea to set up a private intel page on Facebook as Zuckerberg is one of the most pernicious globalists and anti-Trump? Just a thought.

            Liked by 1 person

      • Jett Black says:

        It’s truly all of them and has been for decades. They’re hogs at the trough, now so fat, they’re only thing to do with them is political slaughter. All of these numbers are so skewed and cooked when initially released, they all have to be negatively “revised” once any real data comes out–same for unemployment and every other measure of the nation’s economic status. Until we get rid of the fatted, lying hogs, we’ll never really know how bad or good things are, nor what can be done to begin fixing the problems.


    • lizzieintexas says:

      I have worked for the same company for 20 years. The company is over 150 years old. For the first time since I started there, I am in fear for my job. They have layed off most of the contractors, forced 60+ year olds into early retirement and now have said layoffs are probable.

      I am with you. Get this sob OUT. Trump can and will turn it around, just hope I have a job when it is all said and done.

      Liked by 8 people

  2. MrE says:

    I can hear it now… “More QE! More QE!” (/sarc)

    Liked by 1 person

    • There’s no more QE to be had. It’s all negative interest rates and Greek style account percetage confiscation from here when they run out of smoke and mirrors (moneey printing with no more countries buying our junk treasury bonds).

      Liked by 2 people

      • I was reading through the comments here and I’m pleased to see someone addressing the QE and negative interest rates. People can’t make money with negative interest rates, and QE causes inflation. So, its one big hot mess….perfect storm if you will. And then people act shocked….


      • platypus says:

        Two-thirds of which are “purchased” by the Federal Reserve with money “printed” with a keystroke. It looks real but it is not. The big money movers know that there is too much money being printed so they are holding their money in the fed reserve accounts at 0.25% interest.

        If that money is ever let loose, the value of the dollar will be virtually zero. Bringing back the overseas profits will off set it somewhat because those are at least real profits.

        My guess is that the govt wants to somehow force the fed to “vanish” those accounts (to avoid hyperinflation) but can’t figure out how to do it without destroying Wall Street, the big banks, and all the investment funds out there. So how this ends is wide open with the single important fact being that America has a private armory and the rest of the world’s people do not. We will survive whatever happens – the others likely will not.


  3. StormyeyesC says:

    Watch your bank $ ………….. Consider silver & gold

    Liked by 2 people

  4. Their fake unemployment and growth rates are no secret out here in small business owner land. Our insurance has sky rocketed, food prices and taxes keep going up. We no longer can afford to trade cars every few years.We stopped annual family vacations back in 2008. And somehow we are supposed to put our kids in college with the government telling us what we CAN afford per year (Expected Family Contribution) and how much debt to saddle our kids with. TRUMP 2016!!!

    Liked by 8 people

    • WSB says:

      When Trump gets in, the first thing he needs to do is to set these fake stats straight so we know how to gauge the future.

      Liked by 2 people

      • Patriot1 says:

        EXACTLY!. Right on. Been saying this for years. Just last year the BLS changed the way the computed GDP so it would add another $500 billion to the already low number. We have been in a recession for 7 years and everyone acts like there is nothing wrong.

        Liked by 1 person

        • Matt Musson says:

          Note: the Consumer Discretionary Spending formula includes Healthcare Spending. The rises in ObamaCare Costs alone have made up 50% of the ‘increases’ in the last few years.

          Liked by 1 person

    • Fl for Trump 2016 says:

      We put our oldest son through college. When he came back, he married a strong liberal poor me girl, also college educated. Instead of her changing, he did. They voted for 0 and will vote Hillary. My younger son waited several years, then got his college education. He said he had to fabricate his answers and provide liberal leaning ideas to achieve a good grade. If I had it to do over, I would send them to trade school.

      Liked by 6 people

  5. rumpole2 says:

    No Problem. Elect Trump. He’ll fix it.

    Liked by 1 person

  6. Bull Durham says:

    Bernie wants to confiscate all the wealth in the nation. That would bump up the numbers until he spent it all.

    Half the nation will vote for the idea.

    They voted for this idea of an economy—twice.

    He either get Trump or we are heading to become another deadbeat and beaten nation.
    You can only print debt paper until some one calls in your marker.
    China and Japan would be knocking at the door if we don’t become rich again.

    This is one more topic Trump is 100% correct on.
    The only thing he hasn’t gotten right is how rotten the Republican Party is. He thinks they are not fair, and don’t keep their word. They are worse than that. They are thoroughly corrupt. No better than Clinton, Reid and the Kenyan in the Oval Office.

    GDP? We don’t need no stinkin’ GDP. We have the FED generating debt and the Congress and Obama spending it.

    Liked by 3 people

  7. move along, Nothing to see here…
    Green Shoots! Green shoots everywhere!


  8. Rainer says:

    If only Obama could do for the broader US economy what he’s done for gun sales.

    Liked by 7 people

  9. barton2016 says:

    Well at least interest rates will stay at zero


    • Bull Durham says:

      Bank deposits will go to negative interest rates like in Europe.

      Liked by 5 people

      • MrE says:

        Yup. This year’s Dodd-Frank stress test scenarios even required the banks to include negative interest rate situations. That alone was a major warning sign; won’t be surprised at all now if they become reality. Who’da thought that $20 trillion+ debt could do that to ya? 😐


  10. Tigsmom says:

    The change in the GDP’s calculation from last year can no longer hide the truth. There was never a recession, it is a true Depression. Of course, it will be all President Trump’s fault…

    Liked by 5 people

  11. bit OT,, We’ve Officially “jumped the Shark”
    But when Holmes was released from prison last year, officials in this city offered something unusual to try to keep him alive: money. They began paying Holmes as much as $1,000 a month not to commit another gun crime.

    Liked by 1 person

    • Joe's Dad says:

      Pay savage thugs not to commit a crime with tax dollars from civilized working-class Americans???

      Just damn!

      To be a left-winger, one must be COMPLETELY fu#ked in the head.

      You wanna keep these thugs from committing crimes? Lock em up! Jails get full? Build new ones!



  12. paulraven1 says:

    You’d think that the “unexpectedly” trope couldn’t go on forever. Oh, but it can, and will. Everything on the Left goes on unwaveringly and endlessly. This is how they beat you down. We keep counting on their own sense of shame, or limits, or decency, and finally we stop counting on those things and start praying to God. But only one thing stops the left — GREATER FORCE.

    Liked by 2 people

  13. Walt says:

    Well maybe time to check up on your supplies make sure your family has a plan. I not a prepper but a little goes along way.

    Liked by 3 people

  14. Pam says:

    This doesn’t surprise me one bit. That pitiful excuse of the Department of Labor has been monkeying around with the unemployment figures for almost eight years to make Obama and possibly Hillary look good. Of course tell the tons of people in this country who are currently out of work or who lost their health coverage due to obamacare these figures and I’m sure we would get an earful.

    Liked by 1 person

  15. Seamus Heaney says:

    As a small business owner for nearly 40 years, I have noticed a lessening of demand nearly every election year. But among the worst was the year 2006 when Nancy Pelosi and Harry Reid were voted in. Business has suffered ever since. On top of the previous malady, we elected Blessed Hussein Obama twice. We elected the Republicans in 2010 and 2014 to stand up to the Marxists, but they dropped the ball. Now The Donald is going to turn the tables and bring the economy roaring back. And don’t worry about the cost of deporting illegal aliens- they will be paying for it themselves.

    Liked by 1 person

  16. NYGuy54 says:

    I do believe this has happened the last 4 years in a row at almost the exact same time.


  17. My post got stuck in limbo. I don’t know exactly what triggered that, but I’m damn sure not going to type it again!


  18. Apfelcobbler says:

    Trump is the only candidate that recognizes and honors debt. The rest will bail out the bankers AGAIN and ignore the moral hazard inherent in our banking system. Bernie? He’ll want to “spend our way out of this”!

    The Fed is running out of tricks and only Trump would +dare+ explain this to the people.

    Trump ASAP

    Liked by 1 person

  19. NJF says:

    Dobbs was all in tonight in defense of trump’s trade deal message, forcing his guest to admit that his vast business experience is a very good thing. Trump is also sending WP (his new adviser) to speak on his behalf, and he’s above criticism on fox. He makes his view very clear on why he supports trump.

    Watching Lou & CTH keeps me positive !

    Liked by 3 people

  20. Peter says:

    Meanwhile talkshow hosts, even from Wisconsin keep telling us that conservatives in control of congress are smart and can handle the economy just fine.

    Cruz knows nothing except tax cuts. Can you imagine him wagging his finger on a trade deal- omg. Shoot me now. Cruzbots are insane, he wouldn’t get off first base. Kasich too, really? Are u kidding me?

    Liked by 1 person

  21. David Emery says:

    Maybe its time we all volunteer to help Trump. I read that the Trump campaign needs people from all over the country. Here is our chance to be part of history together we restore our republic.

    Liked by 3 people

    • chrystalia99 says:

      Yes, we need to volunteer. And if your state hasn’t elected delegates to the state convention yet–you need to try and get a slot. Cruz&co. have already stolen delegates in LA, perfectly within the rules, and a rep. from TX was gloating today about Trump losing delegates there as well, because nobody looked at the various GOPer by-laws in the states. We must get him over 1237 by any means necessary.

      But we also must make sure the delegates sent to national will stick for the first vote or any other BS the GOPers try. AND we must have as many people in Precinct chairs as possible when the general rolls around, so we can hijack the GOPers when they are most vulnerable–something they are sure we don’t have the nuts or brains to do.

      I will be putting together a private FB group to coordinate people across states for the hijacking project, and we need all hands on deck. If you want to get in on the fun, you can drop me a comment on my blog, or on twitter: surfaholic15 .

      It’s time to ramp up the war, before we lose it.


  22. iowacaucuses says:

    When is the world going to give us their jobs, currency, security, protection and money?

    The GOP’s prob is that they cannot win without Trump. Especially as the world and trade deficits burn. I mean we own TVs and Internet. There are like 1 Billion people who want to see 300 Million Americans dead.

    Trump is the swell and momentum. Period. He gets a solid splinter of the Sanders crew too, so lets hope Hillary doesn’t get indicted.

    BTW sorry about the minor PG-13 profanity last night. Someone should sue and or investigate Amanda Carpenter for utilizing her compensated role in media to provide covertly coordinated earned media (for and against C’s4POTUS). Not friv! FEC reg? She should recuse! Was a conflict waiver signed by her and Edward’s (possibly) mutual attornies? Worst kept secret in DC is that Amanda tweets where she wants Ted to point the lawyers. (Separate thought) I bet Mr. Scavino gets a nasty gram from a lawyer tomorrow. Patheic. Publish her MEV #s!

    PS. I thought it was great that like almost everyone @ the Cruz (mini?) rally today said they would VOTE Trump over Hillary.

    PSS. It is “offshoring” and “near shoring” that is the problem. Too many R’s say “Outsource” when all that really means is a supplier and/or vendor. Americans do not even understand that people arbitrage labor to Canada and India not to mention everything in between.


  23. ZurichMike says:

    A trillion here, a trillion there — pretty soon you’re talkin’ real money!

    Liked by 2 people

  24. Preppin247 says:

    This is the data they are feeding us ..I suspect its much worse.. Trump will have a large mountain to climb when he assumes office but he is the right man for the job.. if Isis wanted to destroy America all they would have to do is hack and shut down the food stamp system every major city would spiral into chaos.. paying for food is a foreign concept for millions .. they wood loot the stores cause food is spost to be free


  25. pyromancer76 says:

    Some commenter above said that we elected O twice. Maybe we did and maybe we didn’t. I do know that Romney did everything he could to throw the election. That being said, economic conditions were so bad then, that even Romney’s measly opposition could have gotten him elected. I think voter fraud needs to be investigated from top to bottom. Everyone of those computers needs a paper ballot backup along with watchers from both parties. There were way too many decisions that were close that always went to O. Way too many. I hope we can do something significant about this before November.

    Liked by 1 person

  26. It’s more gaslighting. The media and wall street know exactly why the economy isn’t doing well.
    Shit’s too expensive~!!!

    One example, among many. 2001-2008 oil skyrockets to $150/barrel. Everything goes up with oil.
    2009 oil reaches it’s bottom, and building materials are still 5 to 10 times their pre 2008 prices.

    QE prevented the natural deflation of prices. That’s why there has been no recovery. Companies were able to buy back their stock so there was no need to lower consumer goods prices.
    Shit’s too expensive~!!!!
    And another thing.
    China is not the problem~!!!!!! Saying China is the problem is more gaslighting.

    China is the worlds factory. So when the World doesn’t put in orders to the factory, because shit’s too expensive, the factory slows down. China is only trying to save itself, anyone of us would do the same thing.

    Goldman Sachs, J.P. Morgan, The Fed, Citi Bank, AIG, wall street speculators, and our complicit government leaders, are the villains and the MEDIA is running the propaganda~!!!!

    And they are willing to go to negative interest rates in order to cover their lies, with no regard as to how badly it wrecks this nation, or other nations. Nation Wreckers~!!!!!!!!!

    Liked by 2 people

    • Sunshine – Taken as an overview, I agree with most of your points. However; try your analysis without separating China and the other major players as if they aren’t interconnected. The one unifying element in the entire seemingly chaotic chain of global events is the international banking system. They play all sides against each other (in the dog and pony show that is presented to the general public) while all the major corporate and governmental leaders play along with them to get as many scraps as they can that fall from the bankers table. Don’t pick sides!. There are only two; the NWO globalist swine, and the chattle (not cattle) of the world that they use and distain (that would be us).

      Liked by 2 people

      • We’re on the same page.
        I know China is no angel, but… when the media constantly stirs up contention, this could lead up to some conflict, directly or indirectly, with China.
        Which of course opens up the floodgates for military spending, and further compounds the problem.

        Liked by 2 people

        • Yes; and who exactly benefits from the increase in military spending? Someone must be making money from the interest on the loans that the debt ridden nations (all of the nations at this point) must take out to finance their military expansion. It’s a vicious circle, Sunshine! It always comes back to the globalists.

          Liked by 1 person

  27. Libertati Aut Ad Mortem says:

    And yet the Federal Reserve is now planning to raise interest rate artificially and unexpectedly again,
    (oh I cannot comment at CNBC, banned there too, badge of honor)
    And you think this is about economic strength. It is not, it is about payola in the form of FRA7A dividends and interest on excess reserves that the primary banks are pushing as their payback for getting $4.5 trillion in QE printed for the Obymal spendthrift, wasteful and crony kickback White House.


    The crony kleptocracy has stolen trillions from the American people. And you wonder why Obysmal is smiling from ear to big fat dumbo ear every time his picture is taken. He and his buddies are laughing all the way to the bank at the expense of the American people


    • Patriot1 says:

      Some very thoughtful people here. Thanks for sharing your knowledge and not being part of the problem.


    • Jett Black says:

      This is how they do QE now–they “if” us with a hike, then walk it back. All psychology, propaganda, smoke and mirrors, lies.

      Of course, they may go to negative rates/confiscation at some point, but the effect of that would probably be very dramatic and unwelcome to the “establishment.”


  28. jedimastertrump says:

    Chillax people. Recovery Summer #8 is just three short months away.

    In the meantime, enjoy your continuing FUNemployment.

    Be Right Back!
    My obamaphone is ringing off the hook with exciting news about my new illegal immigrant benefits.


  29. MVW says:

    9 1/2 months to get rid of the worst president in US history… if we can survive.


  30. Attorney says:

    Hillary would be our ruin.


  31. jackphatz says:

    Kinda obvious when the 401K doesn’t even gain a few pennies!


  32. lawrencepaul1 says:

    America and Europe are in a depression and have never come out of recession after the last crash.
    Washington is more corrupt and better at hiding that most western countries so people think that we have been doing OK. Printing fiat currency and juicing the stock market does not a recovery make. Lower unemployment rate at the same time as lower worker participation rate is a statistic that can only be achieved by fabricating one of those statistics.
    I will leave you to figure out which one the government is likely to be fabricating.


  33. Big Jake says:

    We are in recession.

    About four summers ago the government changed how it calculates GDP by throwing in services. This gave a pop of 2-2.5%.


  34. Big Jake says:

    Correction. 1.5%.


  35. bitterlyclinging says:

    The wondrous Age of Obama. Seven plus years of a smoke and mirrors economy.
    Obama said he was going to take the boom and the bust out of the American economy. That was one campaign promise he did keep. He made it permanently dead, morte, mourir.


  36. SeekerOfTruth says:

    —-long read on GDP data reporting changes for the financially technically interested.

    I follow financial markets a lot and everyone here may not be aware that the GDP calculation was changed a while back by Obama to make it almost impossible to go under zero. Things were added to GDP calculation that no other country does and can add about 1.0-2.5% to the final number.

    So for example when they say GDP of 1.4% that is really probably zero by the correct calculation used by the other countries of the world.

    After this calculation was changed to JUICE the GDP reported number, the financial press was told to never ever report on this fact. Almost a complete and total blackout of this news. They wanted all no financial people to now know this information and many (most) of the financial so called experts still do not understand this or mention it in their article referring to GDP.

    Plus recently they are doing more CPI and seasonal adjustments to it to again JUICE the numbers.

    This fake reported government data has become the rule under Obama to hide the fact that we are already in a recession. People on the street know this but the elites can feel good if the data does not show it.

    I reference these article as a starter for people.

    By now most of the data coming from corporate Adjusted earngings is fake and most of the national data reported by the government is faked a lot. Coorporations use adjusted earnings now where they do not have to follow any accounting rules and can take almost any loss off the books to make their report look better. Only GAAP (Generally Accepted Accounting Principles) as reported method shows the real data and most companies do not report that or hide it very well.

    The difference between GAAP real earnings and Adjusted earnings is now 40%. So subtract 40% from most earnings reported to get the real number earnings number.

    Subtract about 2.0% from the reported GDP to get the real number.

    have a nice day –
    off to read more financial news and see if I want to day trade or swing trade today before heading out for a long bike ride or just let my long term Muni bond positions ride. I have no stocks now.

    Trump wants Yellen out as FED chief and she is talking today and the FED are all financial socialists and want to preserve the market for Obama and the Dem candidate. Yellen knows that if Trump is elected he will remove her and audit the FED and discover all the things they are doing that they are not supposed to be doing.


  37. paulgilpin says:

    neither the posting or the link provided, indicate whether this downgrade includes, or not, the seasonally adjusted, or the doubly seasonally adjusted numbers. it may be possible that these/those numbers may need to adjusted further, requiring attention from the BLS adjustment bureau.
    i’m sure after procedures involving hookers and blow, that a suitable number can be arrived at.
    and don’t end your sentences with a preposition.


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