GDP Contracted at 1% Pace in First Quarter

[Ransom]

Government economists had previously estimated GDP slowed to a 0.1% growth rate in the first quarter as harsh winter weather disrupted work sites, curtailed foot traffic at retail stores and snarled transportation networks across much of the U.S.

Harsh winter weather?

The newly revised estimate incorporates additional economic data released in recent weeks. Higher-than-expected imports and slower-than-expected inventory growth dragged the economy into negative territory.

Slower than expected inventory growth?

The three-month contraction isn't expected to herald a prolonged downturn, though it's rare for the economy to shrink outside of a recession.

Perhaps we are in a recession?

http://online.wsj.com/articles/u-s-g...ter-1401366873

[Mainecoons]

We never got out of it when you ignore the stock market balloon. Wages and job quality have headed straight south since Obama got in office.

Believe it or not, if you raise taxes, pile on unprecedented levels of regulation, stall important energy projects and pile on an unmitigated disaster like ObombedItCare, it will affect the economy.

And it has. Dooh!

[zelmo1234]

Of course we are in a recession, we have been!

Yes the hard winter produced a slow start to construction, but that is not all of it. Food, Fuel, and Rising healthcare costs have taken the majority of the disposable income from the lower middle class and working poor.

And this administration has no plan to change it

[Kalkin]

Harsh winter weather?



Slower than expected inventory growth?



Perhaps we are in a recession?

http://online.wsj.com/articles/u-s-g...ter-1401366873

Global climate chaos is destroying the economy!!!11!1!!
Nothing but excuses for obama's incompetence. Shocking.

[Refugee]

“Harsh winter weather.” A good an excuse as any.

“Slower than expected inventory growth.”It didn’t match up to our predictions.

“Perhaps we are in a recession.” Since 2008 and continuing.


The recession started in the UK started in the 80’s and we never came out of it. The boom period in the 90’s and 2000’s was simply borrowing and giving the illusion of prosperity. That started to collapse around 2005 when the big companies started to lay off and I personally took my cue from that to get away from a collapsing west.

If any one politician could solve the problem they would have done so already. Increasing populations; we’re back to where we started in the industrial period. How do you control mass populations in a post industrial society, but this time without work? War as previously or mass welfare, although I wouldn’t entirely rule out the former.