WASHINGTON -- The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That´s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter. The surprise contraction could raise fears about the economy´s ability to handle tax increases that took effect in January and looming spending cuts.
So, does this mean that Happy Days are here again with double dip recession just days away? Just as socialist sooner or later run out of other people´s money, so to do lying goobernment bureaucrats run out of smoke and mirrors statistics. And with Obambicare starting to crank down on the economy, expect even worse.
FTA: Frankly, this is the best-looking contraction in U.S. GDP you´ll ever see, Paul Ashworth , an economist at Capital Economics, said.....Another positive aspect of the report: For all of 2012, the economy expanded 2.2 percent, better than 2011´s growth of 1.8 percent.
Nice try at putting lipstick on a pig AP. Remember when 2.7% positive growth cost Bush 41 a second term because it was the worst economy ever and forever?
During the Christmas holiday my cousins very liberal husband says the economy is on fire A co-worker was also saying the economy is improving.
You know something? I think their both smoking crack!
Reply 14 - Posted by:
Fiesta del sol, 1/30/2013 9:34:30 AM (No. 9148179)
It´s not unexpected for those of us out here in the real world, paying more at the grocery store, gas station, Doctor´s office. The only "enjoyment" I will get out ofmthismis watching the media ignore this. I fully expect Obama and his Kneepad media pals to roll out Sandra Fluke or some other distraction to protect their Lord and Savior.
Let the spin begin! This was horrible. Personal spending was the only component that was up and that was due to the fiscal cliff. Asset sales and dividends were way up, otherwise we´d be looking at -1.0%.
And the beat goes on. How many billions has gov´t sucked out of the economy to pay for cell phones, Solyndra, TSA, SEIU, GM, etc etc. This is by design to destroy America and to create the globalist environment the Soros´ of Davos so desperately want. The conspiracy theory is not theory.
Will Obama pay attention now? We´re dying out here. Our stories range from frustrating to tragic.
Businesses are hanging on by a thread...cutting to bare bones. Employees are losing basic things like earned vacations, or holiday pay,and those are the ones lucky enough to still have a place to work.
How many marriages couldn´t handle the strain of the past four years? How many people now need anti-anxiety meds to deal with the constant fear? How many people couldn´t cope with the shame of losing their homes or businesses to bankruptcy? (It´ still abhorrent to responsible people who have always worked for what they have)
Is there no one with the guts to confront him? The economy is NOT roarring back as I heard on a news story yesterday....while the POTUS flew to Las Vegas and had a STUPID "pep rally" in the gym of high school whose students can´t read or write. I guess he needed his mandatory friendly audience.
Notice, just notice, how the world didn´t come to an end with the unexpected diminishing of government spending. The sun still rose, equities actually rallied (though yes, partly Fed induced). The emperor isn´t wearing any clothes! Watch the spin because this is bad news only for the people busy spending other peoples money. The ones strangling the US economy.
Reply 25 - Posted by:
The Architect, 1/30/2013 10:04:01 AM (No. 9148255)
You can´t blame Zippy. After all, he inherited this economy from the administration in power for the last 4 years. Oh, wait........
It´s amazing how the bad economic news comes just after the election. Of course it is Bush´s fault. Federal government just needs to spend more money to jump start the economy, it did not work before, so why should we learn from our past experience?
A comparison is made to the 3rd (July thru Sept.) quarter. I was suspicious of that as a pre-election fake-out. I take all numbers coming from this bunch with a grain of salt. As for the stock market rally, the current average p/e ratio is around 11, a perfectly acceptable number which says stocks are not overvalued in relation to earnings. Corporations are doing something right.
Harry ad Barry have a simiar idea of what a recovery looks like?
Thy call themselves the dynamic duo but are really the gruesome twosome of the lies about the economy. Or lies in general. The Father of lies used to be Satan, the devil, old Ned... Now he may be a long legged skeet shooter with a close second in a dried up old desert rat, Harry Reid.
US President Barack Obama appears to have angered supporters of ousted Egyptian president Mohamed Morsi, as well as supporters of the army coup that toppled him on July 3. Leaders of the Muslim Brotherhood, which is at the vanguard of the street protests against Morsi’s ouster, claim the US supported the coup. Those opposed to the Brotherhood claim Washington has been and still is supporting the Islamists. An example of the vitriol in the country can be seen in a new video clip featuring a song by Egyptian performer Sama Elmasry. Titled “You Obama, Your Father, Mother,”
Weekly Standard editor Bill Kristol remarked on Sunday that President Barack Obama’s re-election campaign rhetoric on foreign policy stood in stark contrast to the turmoil in the Middle East stirred by threats from al-Qaida, pointing out that the U.S. closed 22 embassies throughout the Muslim world. “Four years ago President Obama gave a much heralded speech as outreach to the Muslim world,” Kristol said. “And now, four years later we are closing embassies throughout the Muslim world. A year ago, the president said al-Qaida is on the run. And now we seem to be on the run.”
Former House Speaker Newt Gingrich, a leading neoconservative hawk and staunch supporter of Israel, says the U.S. military interventions he has long supported to promote democracy in the Middle East and elsewhere have backfired and need to be re-evaluated. “I am a neoconservative. But at some point, even if you are a neoconservative, you need to take a deep breath to ask if our strategies in the Middle East have succeeded,” the 2012 Republican presidential hopeful said in an interview.
Key Democratic and Republican members of Congress said Sunday that the terrorism threat reportedly triggered by an intercepted message between senior al Qaeda operatives is the most serious threat in years, with some warning that the threat is an indication the terrorist group responsible for the 9/11 attacks still poses a significant danger to the U.S. The threat forced the closings of more than 20 U.S. embassies and consulates this weekend. A travel alert was issued for Americans planning to travel overseas, particularly in the Middle East, and will remain in effect for the rest of August.
Rattled lawmakers in both parties applauded President Obama’s decision to shutter two dozen U.S. diplomatic posts across the Middle East and North Africa this weekend, calling the threat of a fresh terrorist attack credible, specific and the most alarming in years. The State Department extended the closure of 19 embassies, consulates and smaller diplomatic posts through Saturday “out of an abundance of caution,” spokeswoman Jen Psaki said in a written statement Sunday. Several other posts, including embassies in Kabul and Baghdad, will reopen Monday.
I have lived under the Administrations of 8 Presidents. Until Barack Obama, I never knew the date of their birthday. In fact, except for Barack Obama, I don´t know the exact birthday of any US President. (I know Washington and Lincoln were born some time in February.) Obama´s organizing arm, OFA, not only wants me to know that Sunday is Barack´s Obama, but also that I should be politically active in "honor" of the event. This creepiness is beyond the ability of science to measure.
Saturday evening, a friend suggested that I watch the midnight rerun of Judge Jeanine Pirro´s Fox News program for her interview segment with a Democrat and a Republican about this weekend´s closing of 22 embassies overseas in response to terrorist threats. Ryan Clayton was the Democrat whose arguments blaming George W. Bush´s administration for the current level of threats in the Middle East were so weak that he was reduced to childishly reminding viewers that 9/11 happened on George W. Bush´s watch (as if we didn´t know, and as if eight years of previous Clinton
During the 2012 presidential campaign, President Obama repeatedly claimed that al-Qaeda had been “decimated” and “on the path to defeat.” That makes it a little curious that the State Department is now forced to close temporarily its diplomatic missions across the Middle East and North Africa and to issue a global travel alert to U.S. citizens warning of a potential attack by al-Qaeda. News of al-Qaeda’s imminent demise was, it seems, greatly exaggerated. In fact, while the terrorist network has suffered substantial losses, including of course the loss of its co-founder, Osama bin Laden, it has displayed dismaying resilience.
Today, across Africa, Araby and Asia, from Nouakchott to Dhaka, the diplomatic facilities of the United States are closed. There’s a Tsarnaev out there, somewhere – could be the Mahgreb, the Levant, the Horn of Africa, the Indian sub-continent – who knows? So, as Richard Fernandez writes, “Shelter in place, this time globally.” Maybe it will work. Maybe by the end of the day there will be, unlike Benghazi a year on, men in custody. But if not? Daniel Pipes: Don’t know about you, but I find this pre-emptive cringing unworthy of a great country, even humiliating.
Key figures in the Obama administration met on the current al-Qaeda threat on Saturday while the president conducted an intensive golf fiesta at Andrews Air Force Base. President Obama set off for the golf course at about 8 a.m., hoping to squeeze in as much play as possible before a scheduled departure to Camp David at 2:30 p.m. Three all-male teams hit the golf course to mark the day before Obama’s 52nd birthday, including regulars Reggie Love and Marvin Nicholson, White House chef Sam Kass and college friend Wahid Hamid. “Before departing this morning, the president was updated
In April, the city of Boston was effectively under military curfew because two terrorists were on the loose. Now, fears of al-Qaeda attacking has led the U.S. government to close 21 U.S. embassies in Muslim-majority countries and then issue a worldwide travel alert announcing that “Terrorists may elect to use a variety of means and weapons and target both official and private interests. U.S. citizens are reminded of the potential for terrorists to attack public transportation systems and other tourist infrastructure.” The chairman of the Joint Chiefs
While President Barack Obama has claimed he is a champion of the middle class, two of his signature initiatives--comprehensive immigration reform and Obamacare--threaten to further gut America´s middle class. Regarding Obamacare, economic analyst John Mauldin determined Obamacare may actually create a "new underclass" with "disastrous implications for the country." He explained that the country has a "younger generation that is having trouble finding full-time work and developing the skills needed for the transition to more stable, higher-paying employment."
White House insiders say President Barack Obama is in “a funk” about what he sees as increasing stagnation and failures surrounding his second term and some worry that the President is becoming more distant and distracted. “He’s not the same Obama that came to the Oval Office after the 2008 elections,” a senior White House aided confided to friends in an email recently. “I’m worried.” Chicago Mayor and former White House chief of staff Rahm Emanuel tells friends that the Presidency has changed his longtime friend Obama and many of those changes are “not good.”
In warning about possible al Qaeda attacks against Americans overseas, U.S. officials may have provided too much detail about intercepted chatter and the source of the information, and that may make it more difficult to get such tips next time, former and current intelligence officials say.On Friday, the U.S. State Department issued a worldwide travel alert for Americans, citing an unspecified al Qaeda threat. The bulletin said that the highest threat levels are the Middle East and North Africa, “and possibly occurring in or emanating from the Arab Peninsula.”
Washington - President Barack Obama´s top national security advisers met at the White House on Saturday to discuss the potential threat of terrorist attacks that caused Washington and its allies to issue travel warnings and close embassies throughout the Middle East. The United States issued a worldwide travel alert on Friday (Snip) Obama is spending the weekend at the Camp David presidential retreat after playing golf earlier on Saturday. His birthday is Sunday. The White House said Obama had received regular briefings about the potential threat and U.S. preparedness measures all week.
Citing a potential al Qaeda attack, the State Department on Friday issued a worldwide travel alert and warned American citizens that the terrorist group may be plotting a strike in the Middle East, North Africa or elsewhere. “Current information suggests that al Qaeda and affiliated organizations continue to plan terrorist attacks both in the region and beyond, and that they may focus efforts to conduct attacks in the period between now and the end of August,” reads a portion of the alert, which lasts until the end of the month.
Executive Director of Mayors Against Illegal Guns Mark Glaze gave some ambiguous and potentially dangerous self defense advice Friday on “Hardball.” Glaze, speaking in opposition to “Stand Your Ground” laws, said in a circumstance where someone “comes at you” with an axe handle one should attempt to either “talk,” “fight with your fists,” “run away,” or “deescalate the situation,” but not shoot the attacker: MARK GLAZE: Very often somebody will come at you. They might want to have a fistfight. They might come at you with an ax handle. CHRIS MATTHEWS: Would you consider the guy with the ax handle armed or not?
[Video] Rapper Jay Z appearing on HBO´s "Real Time" with Bill Maher says that the black community wants upward economic mobility rather than a stronger police presence. In a conversation with former Congressman Barney Frank about police tactics such as stop-and-frisk, Jay Z suggests the stagnant economy and wealth inequality could cause widespread social unrest: "The real problem is there´s no middle class, right? So the gap between the have and have-nots is getting wider and wider... It´s gonna be a problem that no amount of police can solve, because once you have that sort of oppression
Common sense tells me that cops don´t need a Taser or a shotgun to subdue a 95-year-old man. When John Wrana was a young man, fit and strong and fighting in World War II with the U.S. Army Air Corps, did he ever think he´d end this way? Just a few weeks shy of his 96th birthday, in need of a walker to move about, cops coming through the door of his retirement home with a Taser and a shotgun.
Not only should President Obama cancel a bilateral summit with "schoolyard bully" Russian President Vladimir Putin, Sen. Chuck Schumer, D-N.Y., said Sunday on "Face the Nation," but considering the country granted asylum to National Security Agency leaker Edward Snowden, U.S. allies should try to move next month´s G-20 gathering from St. Petersburg. "President Putin´s behaving like a schoolyard bully, and in my experience, I´ve learned, unless you stand up to that bully, they ask for more and more and more," Schumer said. "He´s always going out of his way, President Putin is, to seem to poke us in
You don´t have to be gay or even Russian to feel the wrath of the Russian government´s homophobia. You could go to jail if you are "pro-gay," whatever that means. And that´s under just one of a growing number of hate-infused bills becoming law at a time when, as it happens, Russia is preparing to host the world in the next Winter Olympics. The perverse anti-gay legislation is inflaming an atmosphere of persistent intimidation and at times deadly violence against Russian gays and lesbians. The question now is: What should the rest of the world do?
Several skills that every kid once learned in school are going the way of the dodo in a hurry. Diagramming sentences is practically an extinct art, for example. Cursive handwriting and memorized multiplication tables look to be swiftly headed that way. Apparently, the next thing that kids will no longer need to learn is spelling and grammar. Sugata Mitra, a professor of educational technology at Newcastle University in northeast England, announced that traditional language rules are out of fashion, reports the Daily Mail. Kids don’t need to waste time on those things, see. State-of-the-art computers and mobile phones can make
I have a suggestion. How about an exhibit on Tawana Brawley? If the purpose of the new National Museum of African American History and Culture at the Smithsonian is to remember racial controversies, as the proposed Trayvon exhibit seems to confirm, then how about an honest look at the phenomenon of hate crime hoaxes? Particular attention should be paid to the role of the media in both the Trayvon and Tawana materials. Unquestionably, the media stirred up racial animus, and these incidents both contributed to raising racial tensions.
An odd dark vertical line that was observed in the sky over Florida earlier this week has left meteorologists puzzled. The shadowy apparition was spotted and photographed by Mike Weight at Honeymoon Island State Park near Dunedin, Florida, Wednesday. Weight was walking on the beach at around 12.30pm. The day was bright and sunny, but there were thunderheads forming to the east. ‘I was looking North when I observed what looked like a ray of dark light coming down from a small cloud to the surface of the Gulf about a half-mile away,’ the 73-year-old man wrote in an email