GDP CONTRACTS in Fourth Quarter. Double-Dip, Here We Come :(

[Will]

-0.1%

Breaking.

If the Thanksgiving-Christmas Shopping Season couldn't spare us from contraction, it's incredibly unlikely that we'll see expansion in Q1 2013, short of massive government manipulation i.e. more "Stimulus" spending to prop up GDP by propping up the government spending portion.

This is what 4 years of Obamanomics and the Obama "Recovery" have wrought.

We are so screwed it's not funny.

GDP Contracts 0.1% in Q4 2012

The U.S. Bureau of Economic Analysis reported today their advance estimate that the U.S. economy contracted at a compounded annual rate of -0.1% in the fourth quarter of 2012.

A few months ago, The Washington Dispatch began tracking the progress of the current recovery against the 1980s recovery.

Since the second quarter of 2009 (the last quarter of GDP contraction), real GDP growth has averaged 2.0% over the last sixteen quarters. By comparison, in the sixteen quarters following the third quarter of 1982 (the last quarter of GDP contraction resulting from the early 1980s recession), real GDP growth averaged 5.0%, or more than double the current average:



This in spite of the fact that reckless and massive federal deficit spending (government expenditures are included in GDP) has been artificially inflating GDP under the Obama administration to an extreme degree:

GDP Contracts 0.1% in Q4 2012

[Doug28450]

Will,

Will you please provide some more detailed explanation of what we are seeing in the first graph?

[Will]

Originally Posted by Doug28450

Will,

Will you please provide some more detailed explanation of what we are seeing in the first graph?

GDP Compounded Annually.

Q0 represents the last quarter of contraction of a recession, and Q1-16 represent the first 16 quarters of expansion.

Q0 for Obama is Q2 of 2009. Q0 for Reagan is Q3 of 1982.

Q16 for Obama is Q4 of 2012 which was just released, Q16 for Reagan is Q1 of 1986.

[RedLS1GTO]

Yikes.

Hey... look over there at those evil black guns!!

[lander]

Surprise, the WH is already blaiming the Republicans.

White House press secretary Jay Carney laid the blame for a surprise economic contraction squarely at the feet of congressional Republicans Wednesday, saying economic threats during the "fiscal cliff" negotiations had prevented important defense spending.


Read more: White House: GOP responsible for contracting economy - The Hill
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[Loco Vette]

Originally Posted by lander

Surprise, the WH is already blaiming the Republicans.

[/COLOR][/LEFT]

That's the one-trick pony act for you!

[Blue 92]

prevented important defense spending.

Spending that would have just shoved us deeper into the sh*t....

[mrvette]

Originally Posted by Blue 92

Spending that would have just shoved us deeper into the sh*t....

AS defense generates some 7.5 times turnover in the economy, where ASS welfare turns over 1.5 times.....because they go into the UNDERGROUND ECONOMY......


IE, DRUGS....and crimes.....