The LSM is all aflutter with the “surprise news” that the economy is shrinking! It’s only a suspires if you are a leftard or a member of the LSM that was willing to pretend the economy was just fine because Obama is a genius, while the signs are everywhere that we where heading for another recession.
The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus. The 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.
Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth. And those volatile categories offset faster growth in consumer spending, business investment and housing — the economy’s core drivers of growth.
Heh, covering up and excuse making on steroids. Stunning loss? Not really, in fact my surprise is that they have reported it for a change. Of course they did so with all kinds of excuses. One time factors! It’s those evil government spending cuts. We need more of that. Yeah, sure. The real story here is that the only reason our economy isn’t correcting so it can then reset is because government has spent trillions preventing that, and thus prolonged the pain. No way these Keynesian Marxists will ever admit that though.
The economy is going to get hammered by tax increases, more of the same travesty from the EPA, and most importantly from the “free” healthcare Obamacare promised, and no amount of government stealing from the productive to pretend they can hold back the tide, is going to stop that. Our economy will continue to contract for the foreseeable future, unexpectedly according to the leftards, because Keynesian economics are bullshit. All they have done is put us trillions more in debt, prolonged the pain, and prevented the needed correction.
Consumer confidence is down, and even the most biased of polls can’t hide that. Everything costs more, even though we keep getting told there is no inflation, the dollar is definitely worth less, and the employment landscape is so heavily mined that it is a wonder there aren’t more casualties. Everyone but the elite in DC are hurting, and hurting bad. Even the freeloaders are complaining that they haven’t gotten their Obamaphones.
Business spending is non existent outside the tax payer handouts by government to preferred leftists cliques like the green energy sector, because all businesses see what these fucking economic illiterate marxists have done for the last 5 years as business killing ventures. It is not accidental that all these big lefty donor companies are looking for exclusions from EPA regulation and Obamacare, while asking for handouts. No business owner in their right mind wants to work so socio-engineers in government can rob them blind in order to buy votes from non producers.
Let us not even get into the whole housing market problem. The framework for what caused the recent market implosion was not only kept in place by the Dodd-Franks bill, but the utopian wealth redistribution, leftard socio-economic tampering schemes and mechanisms have been tweaked in such a way that it guarantees to make the next crisis even more horrible than this last one.
This sort of drivel of a news article makes me pine for a republican in the WH. At least then the LSM would be pointing out things where bad. Of course with massive exaggeration of how bad too (just look at the way they reported 4% unemployment under Boosh and the 8+% under Obama). Can you imagine how the LSM would be decrying the stagnation and depression we are in then instead of the constant lies about how the bad news is unexpected? It is bad out there. And only liberal idiots think that after the last 5 years of stupid that is unexpected.