Statistics for the first quarter were revised -- downward. Instead of a measly 0.2 percent increase in the GDP average growth, it shrank 0.7 percent for an average GDP growth for the last 25 quarters of 1.85 percent. That's the worst recovery since 1920, at least. Welcome to the Democrat's world.
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Last year there was a good bounce back during the second and third quarters. This year the Atlanta Fed says for this year's second quarter, not so much:
The economists at the Federal Reserve Bank of Atlanta who nailed their prediction on the dismal first-quarter GDP number have released their forecast for second-quarter economic growth – and it ain’t pretty.
Using a sophisticated forecast model called GDPNow, the Atlanta Fed is predicting that second-quarter GDP will clock in at 0.9%. That’s well below the 3.25% estimate many economists have been forecasting as the economy ostensibly bounces back from a weak first quarter.
The Atlanta Fed correctly predicted weeks ago that first-quarter GDP would be much worse than the 1% consensus offered by economists. The estimate from the Atlanta Fed was 0.1%, or slightly lower than the actual GDP of 0.2% reported yesterday by the Commerce Department.
Some government analysts want to change the method the GDP is measured -- typical fraud gambit. However,, the Fed is against that. With several economists predicting another recession in 18 to 24 months, the Fed is low on ammo as to how to stimulate the economy. Best they cold probably do is a negative interest rate -- charge bank depositors to put money in the bank The EU is already doing this to little avail. They started with the big depositors and are going down, Soon, depositors will place their spare cash in the safety deposit boxes. Next, mattresses?
I think that for the last couple of years, more than a few economists and financial gurus have said the next recession would come between late 2015 to the end of 2018. With the world as unsettled as it is, I suspect foreign investors will shift money towards the U.S. so I'll give better odds on the recession happening more late 2016 to 2018.
http://moneymovesmarkets.com/j...-recession-risk.html
With more and more nations emulating the Titanic, the US seems to have the least leaky lifeboats. However, give the Dems time and power and they will drill more holes in the lifeboats.
With more and more nations emulating the Titanic, the US seems to have the least leaky lifeboats. However, give the Dems time and power and they will drill more holes in the lifeboats.
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Yeah, I totally forgot about the "pen and phone". I'll concede that point; so its time to look at the 401k right now and check the bad-times supplies.
we need bill clinton to show these people how to balance a budget.
we need bill clinton to show these people how to balance a budget.
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There's no Social Security surplus to borrow any more. The end of the Cold War "Peace Dividend" is gone while the Obama "Surrender Dividend" was blown on vote buying entitlements like Obama'doncare and the increased Great Society programs.
Ah, that imaginary surplus. Smoke and mirrors.
we need bill clinton to show these people how to balance a budget.
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The surplus in Social Security collections were converted to Treasury special instruments. Thus, the excess collections applied to the budget, balanced the annual budget. The special instruments (bonds) were added to the national debt, increasing that. Thanks to the Republican congress, the budget only required that small amount to balance it.
The budgets are no longer so small and SS collection surpluses are dropping rapidly.
The above explanation was written so someone of average 10th grade reading skills may comprehend it.
The above explanation was written so someone of average 10th grade reading skills may comprehend it.
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That leaves out the lefties.
The above explanation was written so someone of average 10th grade reading skills may comprehend it.
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That leaves out the lefties.
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I could dumb it down a bit to seventh grade level. However, to most of the left, it would require several grades lower. Remember, crazy old Bernie Sanders believed manufacturing too many brands of deodorant and sneakers causes US children to starve. Didn't realize that one could grow deodorant and sneakers like corn. Now, diverting corn for auto fuel, might be argued.
facts are facts and you need to quit thinking your smarter than you really are dumb azz. bill clinton had the lowest unemployment in forty years and he will be remembered as the best president since FDR. by the way i am a vietnam veteran, i worked all my life payed my taxes and never took advantage of anyone. so what did you do?
Another excellent example of a Democrat, for whom, one could not sufficiently down grade an explanation. I suppose, I should be thankful for the input, or lack, thereof..
Vietnam vet, myself.
