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US GDP falls -2.9%...absent recession


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#1 g5jamz

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Posted 25 June 2014 - 08:38 AM

Murica!

 

http://www.foxbusine...reat-recession/

 

Laser focus.

 

Wait...concussions!!!



#2 MadHatter

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Posted 25 June 2014 - 08:59 AM

It GWB's fault.



#3 Jase

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Posted 25 June 2014 - 09:00 AM

GDP%20Q1%20LT_1_0.jpg



#4 Happy Panther

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Posted 25 June 2014 - 09:04 AM

And stocks go up.



#5 g5jamz

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Posted 25 June 2014 - 09:06 AM

Pretty sure there was a recession leading into 2008/financial crisis, which is why I mentioned it in thread title.  We're not in a recession supposedly and this is awful. 



#6 Jase

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Posted 25 June 2014 - 09:10 AM

This is the second revision to the 1Q GDP number issued by the gov't.

 

First reading was +0.1%

First revision was -1.0%

Second revision -2.9%

 

GDP has never fallen more than 1.5% except during or just before a recession.

 

personal expenditures to blame

 

GDP%20final%20revision_0.jpg

 

 

It is amazing that the initial estimate of healthcare spending’s contribution to Q1 growth went from an initial estimate of +1.10 percentage points (representing a 9.9% quarter-to-quarter annualized growth rate in the sector) to -0.16pp (-1.4% q/q annualized). This is a crazy-sized revision, and speaks very loudly to the fact that nobody has a real handle on how the introduction of Obamacare has affected these data, nor for how long the distortions may last until things settle down. –Joshua Shapiro, MFR, Inc

 



#7 Jase

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Posted 25 June 2014 - 09:11 AM

And stocks go up.

 

Of course.  Have to get in before the fed ramps up the QE



#8 Delhommey

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Posted 25 June 2014 - 09:17 AM

THANKS JOB CREATORS!



#9 stirs

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Posted 25 June 2014 - 09:19 AM

Economics 101 just doesn't seem to hold water anymore.

 

11 million on disability, half the country on assistance of some kind, and the stock market setting records based on the Fed pumping.

 

Debt no longer matters.

 

Why did I waste time on that stupid class in College?  Oh wait, it was required.  Don't feel so bad now.



#10 Kevin Greene

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Posted 25 June 2014 - 09:19 AM

And stocks go up.

 

 

And the rich just keep gettin'...

Well you know.



#11 Jase

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Posted 25 June 2014 - 09:22 AM

So am I reading correctly that a big factor in this is that people are spending less on healthcare than expected under obamacare?

 

Thanks, Obama!



#12 stirs

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Posted 25 June 2014 - 09:24 AM

So am I reading correctly that a big factor in this is that people are spending less on healthcare than expected under obamacare?

 

Thanks, Obama!

 

I feel like the government needs to spend more money to help this low GDP.  Might not make sense, but its how we roll.
 



#13 dos poptarts

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Posted 25 June 2014 - 09:29 AM

So this means that Yellen is going stop the taper and turn QE-4-evah back on!!! Time to reallocate the portfolio again.

 

I think we're going to need to add hookers and blow to the GDP numbers....gotta keep up with the British and Italians.

http://www.theguardi...my-gdp-eu-rules

 

http://www.telegraph...ostitution.html

 

 



#14 Davidson Deac II

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Posted 25 June 2014 - 09:34 AM

So am I reading correctly that a big factor in this is that people are spending less on healthcare than expected under obamacare?

 

Thanks, Obama!

 

My question is why are people spending less?  Is it because it cost less, or because fewer people have health care coverage, because of all the changes to health care over the last few years (moves from ***'s to HRA's and HSA's for example),  are people healthier, etc...  Spending less is somewhat vague, but it could be a good thing. 



#15 ecu88

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Posted 25 June 2014 - 10:38 AM

Insert Ron Paul gif*

It's Happening!!!

QE is redundant. I will say this, liquidation is and still the best answer because now the problem is growing even bigger. Is the Fed trying to one up the 08 recession. Short term pain is now long term pain. Let's see if they revise a third time. The Fed needs to read Mises and some Hayek work.

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