Comments on: Initial Q4 GDP Negative 0.1. Negative. UPDATED

By: Dave Surls

Dave Surls — Fri, 01 Feb 2013 02:06:57 +0000

“Like what are transfer payments doing in there as ‘products or services’.”

They aren’t.

By: gary gulrud

gary gulrud — Thu, 31 Jan 2013 20:37:42 +0000

88. “Probs with GDP as measure of economic health”

Like what are transfer payments doing in there as ‘products or services’.

By: Steve57

Steve57 — Thu, 31 Jan 2013 18:51:59 +0000

One thing to keep in mind, as the MFM tries to cover for the most incompetent, unserious, and irresponsible man to ever infest the Oval Office. The whole point of the stimulus was to stimulate the economy.

I have my problems with GDP as the only measure of the health of the economy. As a matter of fact I critique several of the Obama admin’s BS metrics in a lengthy rant in comment no. 36 on this thread.

But one thing to note about the arse covering; note how they’re shifting the goal posts. After four years and trillions of dollars down the toilet they can no longer argue that spending was stimulative. Now all they can argue is that public spending props up a dubious statistical metric. The massive borrowing and spending had the opposite effect. As soon as they stop doping the economic racehores, the horse drops dead on the track.

It’s all been a massive lie and the latest GDP numbers prove it. The Obama admin is killing the economy with their cure.

By: askeptic

askeptic — Thu, 31 Jan 2013 18:31:29 +0000

Doomberg Progress: Banning Big-Gulps, and salt, sugar, and condiments of all kinds.
It’s for the Children!

By: Dave Surls

Dave Surls — Thu, 31 Jan 2013 18:27:15 +0000

“Doomberg now states that GDP is a poor measure of progress.”

True. For one thing it counts Obama’s salary as being productive.

By: SPQR

SPQR — Thu, 31 Jan 2013 17:12:15 +0000

Its become obvious from the failure of Democrat economic policies of print-n-spend that the basic belief of neo-Keysnians, that any government spending has a GDP creation factor above 1, is fundamentally false.

By: East Bay Jay

East Bay Jay — Thu, 31 Jan 2013 16:46:11 +0000

Naming the sequester as a reason seems fairly absurd as the sequester hasn’t taken effect yet. The Defense Department works for the Presidency. If they decided to, in advance of the sequester, cancel projects, that’s the President’s decision, not the Congress’. An honest media would note that.

By: Joseph D

Joseph D — Thu, 31 Jan 2013 15:46:42 +0000

@64 gary g,
Exactly right. The velocity charts are the story… If you look at M1, which is the true foundation where they’re propping up the economy, the slope of the curve is ridiculous. Doubled in 5 years.

http://research.stlouisfed.org/fred2/series/M1?cid=25

M2 is based mostly on how much banks are able to lend out. It’s more reflective of the economy as a whole, but M1 shows how much effort and expense the Fed is exerting (printing) to prop it all up.

By: Amalgamated Cliff Divers, Local 157

Amalgamated Cliff Divers, Local 157 — Thu, 31 Jan 2013 15:38:21 +0000

Doomberg now states that GDP is a poor measure of progress. Delicious!
I’m astonished that kfap hasn’t been by today to point that nonsense out.
Leave zippy alone![sobbing uncontrollably in its best Chris Crocker voice]

By: Joseph D

Joseph D — Thu, 31 Jan 2013 15:38:01 +0000

Remember when, before the election, everyone was forecasting +2.0% ?? Gee…

http://www.capitalspectator.com/archives/2012/11/q42012_us_gdp_n.html