Jump to content

Archived

This topic is now archived and is closed to further replies.

g5jamz

US GDP falls -2.9%...absent recession

Recommended Posts





g5jamz    1,111

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. 

Share this post


Link to post
Share on other sites
Jase    12,328

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

 

Share this post


Link to post
Share on other sites
Jase    12,328

And stocks go up.

 

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

Share this post


Link to post
Share on other sites
stirs    6,509

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.

Share this post


Link to post
Share on other sites
Jase    12,328

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!

Share this post


Link to post
Share on other sites
stirs    6,509

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.

 

Share this post


Link to post
Share on other sites
dos poptarts    692

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.theguardian.com/business/2014/jun/10/accounting-drugs-prostitution-uk-economy-gdp-eu-rules

 

http://www.telegraph.co.uk/news/worldnews/europe/italy/10853756/Italy-to-boost-GDP-figures-with-drugs-and-prostitution.html

 

 

  • Pie 1

Share this post


Link to post
Share on other sites
Davidson Deac II    4,210

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. 

Share this post


Link to post
Share on other sites
ecu88    6,975

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.

Sent from my HTC6525LVW using CarolinaHuddle mobile app

Share this post


Link to post
Share on other sites

×