Remember last year when the first quarter growth of the economy had to be revised down into negative territory? And why did we have negative growth in the first quarter? It was because of the “harsh winter”. Remember the Polar Vortex? Yannow, the one that was cause by “warming at the North Pole” which was cause by global warming climate change. Yep! Warm weather at the North Pole cause frigid temperatures in the continental United States and if you believe that (like *cough* Robin Palm *cough* our pet liberal, who, by the way, has a masters degree) I’ve got some ocean front property in Kansas to sell you. Well, it’s deja vu all over again.
The U.S. economy shrank at an annualized pace of 0.7 percent in the first three months of the year, according to government data released Friday morning, a tumble for a recovering nation that until recently seemed poised for takeoff.
The original numbers had the economy growing at an anemic .2 percent and I wrote at the time that the numbers would be revised downward and we would actually have a negative growth rate. I must be psychic.
The contraction, the country’s third in the aftermath of the Great Recession, provides a troubling picture of an economy that many figured would get a lift from cheap oil, rapid hiring and growing consumer confidence. Instead, consumers have proved cautious, and oil companies have frozen investment — all while a nasty winter caused havoc for transportation and construction and a strong dollar widened the trade deficit.
“a nasty winter” Oh noes! That’s the second nasty winter in a row. How can this be. I thought we were warming up. NOAA keeps telling us that. According to NOAA, December was the warmest month on record. This past winter didn’t seem all that nasty to me. So which is it?
The numbers released Friday were a revision of earlier figures that had shown GDP growing in the first quarter at 0.2 percent. Markets had since expected the downward revision, in large part because of recent data showing the trade deficit at a 6½-year high.
Blah. Blah. Blah. As far as I’m concerned, I don’t think we ever came out of the Great Recession. Every summer the LSM propaganda arm of the Dimocrat Party would claim that this was gonna be the “recovery summer”. They constantly wrote about “green shoots” indicating a recovery.
Though the United States has shaken off nasty quarters in the past, including one year ago, this time the rebound doesn’t appear to be so dramatic. Halfway through the second quarter, economists say growth again appears to be below expectations. Many analysts expect the GDP to expand roughly 2 percent in the second quarter, while the Federal Reserve Bank of Atlanta takes an even darker view, predicting an expansion of just 0.8 percent. That would leave the United States with six months of economic standstill..
If we have two negative quarters, which may well happen, that will indicate that we are back in a recession. As I wrote earlier, I don’t think we ever came out of the Great Recession. The gummint has been cooking the books. The unemployment numbers are bogus. We have the lowest job participation rate in my life time. They don’t count the people who have given up looking for work or the part time workers who want to be full time workers. And why are many of those part time workers not full time workers? Obummercare. Thanks John Roberts you traitorous asshole for ruling that Obummercare was Constitutional. I wonder what the Dimocrats have on you?
Obummercare is a drag on the economy. Over-regulation is a drag on the economy. Thank you Richard Nixon for giving us the EPA. Obumbler’s war on coal is a drag on the economy. The one thing that has helped save the economy is the fracking revolution which Obeauzeau is taking credit for but would stop it if he knew how. But, now that the price of oil has dropped, drilling has been cut back in Texas and North Dakota and workers are being laid off. Look for negative growth in the second quarter.
Obamanomics in action. But we did elect the first black president to prove we aren’t racist. How’s that working out? Race relations are now back to the way they were in the 60’s. I thought this dude was supposed to bring us together.