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2013-01-30 Economy
GDP Shows Surprise Drop for U.S. in Fourth Quarter
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Posted by DarthVader 2013-01-30 09:23|| E-Mail|| Front Page|| [700 views ]  Top

#1 Although really not that surprising for those of us paying attention.
Posted by DarthVader 2013-01-30 09:24||   2013-01-30 09:24|| Front Page Top

#2 Defense spending dropped. Wait til the sequester hits
Posted by Frank G 2013-01-30 09:39||   2013-01-30 09:39|| Front Page Top

#3 Mildred, does our IRA include any General Dynamics, Northrop, SAIC, or Lockheed Martin holdings ?
Posted by Besoeker 2013-01-30 09:46||   2013-01-30 09:46|| Front Page Top

#4 But, but, but, but the economy is getting better. I was told so.
Posted by JohnQC 2013-01-30 09:48||   2013-01-30 09:48|| Front Page Top

#5 Wait until the rest of the tax increases, more government regulations and Obamacare hit as well.

With those things piling on a already stumbling economy, it will be the equivalent of a bunch of people pulling on the feet of a strangling man and finish it off that much faster.

There will be a lot of people asking themselves, "Why did I vote for Obama?"
"Because you are a fucking idiot, now live with the mess you created."
Posted by DarthVader 2013-01-30 09:48||   2013-01-30 09:48|| Front Page Top

#6 4th quarter included Christmas which is usually a good time for the economy. What is propping up the stock market?
Posted by JohnQC 2013-01-30 09:49||   2013-01-30 09:49|| Front Page Top

#7 What is propping up the stock market?
Posted by JohnQC

Global markets and continued profits are two important factors John. Capitalism survives in spite of the socialists in D.C. Imagine would could have been achieved with a businessman at the helm.

Posted by Besoeker 2013-01-30 10:01||   2013-01-30 10:01|| Front Page Top

#8 GDP Shows Surprise Drop for U.S., in 4th Quarter.

All very conveniently camouflaged in the media by Gabby Giffords and the gun debate.
Posted by Besoeker 2013-01-30 10:07||   2013-01-30 10:07|| Front Page Top

#9 Unexpectedly....
Posted by Andy Snatch8562 2013-01-30 10:20||   2013-01-30 10:20|| Front Page Top

#10 The economy is going to hit the floor faster than a stunt man in a Jackie Chan movie...
Posted by Steve White 2013-01-30 10:27||   2013-01-30 10:27|| Front Page Top

#11 4th Qtr also included the presidential election, which can make people skittish. Personally, I am interested in January sales compared to previous years.

The entertainers were harping about the news that the market is approaching the 2008 mark. Great. I do know my can of beans does not cost the same as it did four years ago.
Posted by swksvolFF 2013-01-30 10:53||   2013-01-30 10:53|| Front Page Top

#12 my can of beans does not cost the same as it did four years ago
so I sacrifice convenience and buy dried beans and cook 'em. For now natural gas for my stove IS less than it was 4 years ago (thank you, fracking.)
Posted by Glenmore 2013-01-30 11:08||   2013-01-30 11:08|| Front Page Top

#13 Personally, I am interested in January sales compared to previous years.

Railway orders are half of what they were last year, so if a huge slowdown and contraction doesn't show up this quarter it will next quarter.
Posted by DarthVader 2013-01-30 12:11||   2013-01-30 12:11|| Front Page Top

#14 Is an Economic Recession no longer defined as "three straight quarter where the GDP drops" ?
Posted by Besoeker 2013-01-30 12:12||   2013-01-30 12:12|| Front Page Top

#15 IMO, the drop in Federal expenditures (not just defense) was mostly due to agencies getting ready for the sequester; without that drop, the 4th Q number would have been about +2.5% (annualized)

that kind of drop in Federal expenditures is just one thing that needs to happen;

the other is entitlement reform - that will be more difficult
Posted by lord garth 2013-01-30 12:39||   2013-01-30 12:39|| Front Page Top

#16 SW, I like that one "The economy is going to hit the floor faster than a stunt man in a Jackie Chan movie..." thats original.
Posted by Dale 2013-01-30 12:50||   2013-01-30 12:50|| Front Page Top

#17 besoaker,

The declaration of the beginning and end of a recession is not via a precise formula and there is no actual statute that requires such declarations

In practice, there is a business cycle committee within the National Bureau of Economic Research (NBER). The NBER is a private not for profit NGO. They do not make policy recommendations. I think they get funding from large corporations and govt contracts but I'm not sure on this.
Posted by lord garth 2013-01-30 12:53||   2013-01-30 12:53|| Front Page Top

#18 interesting personal take....(well to me anyway)

A week ago a 90' tall pine tree snapped in a high wind. Fortunately it only grazed the house, unfortunately it caught my car square. Well, a 10 year old Honda Accord fought the tree and the tree won, it was totaled.

So, I've gone out to buy a new car and decided on another Honda Accord sedan. When digging out the title to the junker I found the original bill of sale. 10 years ago it cost $23,000. My replacement is going to cost $23,000. The price has not gone up; the sales tax on the other hand is $400 more.

MA democrats suck.
Posted by AlanC 2013-01-30 13:54||   2013-01-30 13:54|| Front Page Top

#19 AC registrations have gone up also. In VA I have been told $200. extra per vehicle. Easy money.
Posted by Dale 2013-01-30 14:05||   2013-01-30 14:05|| Front Page Top

#20 Well Obama is blaming Republicans... so the MSM will be hooting this from the heights for the next week.
Posted by DarthVader 2013-01-30 14:45||   2013-01-30 14:45|| Front Page Top

#21 He's blaming the Republicans and Fox News. Its the "look here don't look over there" approach to politics.
Posted by JohnQC 2013-01-30 16:38||   2013-01-30 16:38|| Front Page Top

#22 It is my understanding that there is absolutely no truth to the rumour that Senator Mary Landrieu form Louisiana is blaming Fox News and Rush Limbaugh for a severe case of Candidasis.
Posted by Besoeker 2013-01-30 16:46||   2013-01-30 16:46|| Front Page Top

Posted by Procopius2k 2013-01-30 17:39||   2013-01-30 17:39|| Front Page Top

#24 P2K == always click on your posts -- took me a few on this one! Nice........
Posted by Sherry 2013-01-30 17:44||   2013-01-30 17:44|| Front Page Top

#25 "MA All democrats suck."

FTFY, Alan.
Posted by Barbara 2013-01-30 18:24||   2013-01-30 18:24|| Front Page Top

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