U.S. Economy Unexpectedly Contracts in Fourth Quarter

GDP -0.1%.

I guess now that the election is over and his highness is back in office, all the monopoly money games and fraud that the FED and the Treasury Department were up to, and all the data manipulation and tricks by the statisticians in the administration, are no longer necessary. And neither are the games with the unemployment numbers and the use of data sets never used before in order to get unemployment below 8% for the election, and let's not forget how California conveniently missed the deadline to turn in their data, where the person in charge of doing so is an Obama supporter and contributor.

so it is now safe to let the public know the REAL performance of the economy.

There you go...we are doing what europe does, so now we are getting the results that europe has.

http://online.wsj.com/article/SB1...TopStories

Quote : U.S. economic momentum screeched to a halt in the final months of 2012, as lawmakers' struggle to reach a deal on tax increases and budget cuts likely led businesses to pare inventories and the government to cut spending. The nation's gross domestic product shrank for the first time in 3 1/2 years during the fourth quarter, declining at an annual rate of 0.1% between October and December, the Commerce Department said Wednesday. It was the first time the broad measure of all goods and services produced by the economy contracted since the recovery from the financial crisis began. Economists surveyed by Dow Jones Newswires had expected 1.0% annualized growth.

I like to follow a guy who has lots of credentials....CLICKY - Market-Ticker.org [market-ticker.org]

He was calling this a long time ago...also responsible for the Tea Party. Yes, that one.

Eh, the performance of the economy is the same as its been for that guy's entire term. Slow growth of the private sector.

At least now government spending is slightly dropping after that guy borrowed $6 trillion over 1 term to pay for his party's nonsensical health care and social programs.

Austerity and less government will fix this.

Mostly because of reductions in pentagon spending. They blew their wad in September in fear of sequestration.

Quote from Radeck : GDP -0.1%. I guess now that the election is over and his highness is back in office, all the monopoly money games and fraud that the FED and the Treasury Department were up to, and all the data manipulation and tricks by the statisticians in the administration, are no longer necessary. And neither are the games with the unemployment numbers and the use of data sets never used before in order to get unemployment below 8% for the election, and let's not forget how California conveniently missed the deadline to turn in their data, where the person in charge of doing so is an Obama supporter and contributor. so it is now safe to let the public know the REAL performance of the economy. There you go...we are doing what europe does, so now we are getting the results that europe has. http://online.wsj.com/article/SB1...TopStories

I'm not understanding how the article you linked supports what you're saying. Could you explain?

Quote from redass : I'm not understanding how the article you linked supports what you're saying. Could you explain?

Easy explanation: the article is not a troll.

In addition to military spending decline, Hurricane Sandy effects at work.

Quote from redass : I'm not understanding how the article you linked supports what you're saying. Could you explain?

yeah, it's just "magic" how the numbers point to everything "improving" one or two months before the election, while many people point to the suspicious data used to come up with these numbers, and then unemployment goes up and GDP collapses in December....nothing to see here, right?

Watch out. Things will get much better.

Soooo, you say obama needs to cut spending and then you criticize him for the GDP drop that was largely due to cutting spending.

Par for the course.

Quote from politicaljunkie : Soooo, you say obama needs to cut spending and then you criticize him for the GDP drop that was largely due to cutting spending. Par for the course.

Don't worry, the Hurricane Sandy relief bill will fix that.....

Quote from Radeck : yeah, it's just "magic" how the numbers point to everything "improving" one or two months before the election, while many people point to the suspicious data used to come up with these numbers, and then unemployment goes up and GDP collapses in December....nothing to see here, right?

The article specifically mentions several factors, none of which are magic, from what I read. Are you saying the factors mentioned in the article you linked are BS?

Remember when that Romney guy was running for president, and he said a thousand times that his budget cutting wasn't going to happen overnight for this EXACT reason (steep GDP declines)?

Quote from Radeck : yeah, it's just "magic" how the numbers point to everything "improving" one or two months before the election, while many people point to the suspicious data used to come up with these numbers, and then unemployment goes up and GDP collapses in December....nothing to see here, right?

http://finance.yahoo.com/news/why...36698.html

Quote : In fact, the decline in growth was attributable mostly to sharp cutbacks in government spending and business inventories. Otherwise, GDP would have grown 2.6 percent, according to Paul Ashworth, chief U.S. economist at Capital Economics.

Quote from politicaljunkie : http://finance.yahoo.com/news/why...36698.html

exactly..so government games were juicing the numbers to drive them up, and after the election there was no reason for it any longer so they discontinued it. thanks for making my point.