Article

2011-02-25 Home Front: Politix

2010 Q4 GDP adjusted downward to 2.8% "Unexpectedly!"

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by DarthVader 2011-02-25 11:58|| || Front Page|| [9 views ] Top

#1 Federal deficit spending is the only thing keeping the GDP out of the negative range.

Posted by Anguper Hupomosing9418 2011-02-25 13:50|| 2011-02-25 13:50|| Front Page Top

#2 But there are concerns that surging crude oil prices could hurt..

Will hurt till you drill your own. Becoming independent of the vagaries of the world that drive a fundamental element of the economy and not doing so is a crime against the people driven largely by religious fanatics aided a abetted by one political group.

Posted by Procopius2k 2011-02-25 15:51|| 2011-02-25 15:51|| Front Page Top

#3 From experience I can tell you that you cannot trust Department of Commerce numbers. They are pure propaganda and are tweaked to fit the current administration.
I am surprised they adjusted them downward. That tells me things are not good. It also tells me the real number may be somewhere around a negative growth (after you cut through the accounting and economic mumbo jumbo they try to blow up your butt in the reports)

Posted by Bill Clinton 2011-02-25 16:00|| 2011-02-25 16:00|| Front Page Top

#4 BC,

Yes you can trust the DOC numbers. The problem is that the DOC can only use the reports they receive and those reports overcount part of the economy, undercount other parts of the economy and miss other parts altogether.

This is because we don't (thank God) have a centrally planned economy (and with luck we will never have one).

Posted by lord garth 2011-02-25 16:15|| 2011-02-25 16:15|| Front Page Top

#5 Yep, the same apparatchiks in the government who report up the line that everything is going well in the old Soviet bureaucracy. Give the boss the happy/glad story. Hell, even the CIA who were reading the stuff thought it was true too. Then the collapse.

Posted by Procopius2k 2011-02-25 18:01|| 2011-02-25 18:01|| Front Page Top

#6 Gas around here went from 3.15 yesterday to 3.35 today. Milk went up a buck a gallon in the last week.
I think the worst is yet to come. But that Motown concert looked fabulous on the news this morning...

Posted by tu3031 2011-02-25 18:17|| 2011-02-25 18:17|| Front Page Top

#7 I know man, the way the Prez hit those teleprompter marks with his look, had the Wright accent, wow! Thought my bike was a train all day long, didn't even mind the freezing snot.

Posted by swksvolFF 2011-02-25 22:25|| 2011-02-25 22:25|| Front Page Top

00:03 Zhang Fei
23:51 trailing wife
23:41 JosephMendiola
23:35 Skidmark
23:26 trailing wife
23:22 JosephMendiola
23:17 JosephMendiola
22:52 Mullah Richard
22:50 JosephMendiola
22:49 swksvolFF
22:45 JosephMendiola
22:35 swksvolFF
22:30 swksvolFF
22:27 swksvolFF
22:25 swksvolFF
22:21 swksvolFF
22:16 swksvolFF
22:10 swksvolFF
21:56 JosephMendiola
21:49 Frank G
21:46 JosephMendiola
21:43 Grunter
21:37 RandomJD
20:12 Dale