OH NOEZ! It’s a surprise only if you are an Obama sycophant

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.

BLAME BOOSH!

There, all solved. It is always someone else’s fault, but this is our immediate future, and this is where we will end if we let these people keep making the decisions that adults should be making.

Comments are closed.

  1. balthazar

    Alex, are you seriously disputing that Government spending cuts hurt the economy?

    That THIS is what you got from this article shouldnt surprise me, but it does.

    You really are about the most self delusional libtard I have ever come across.

    Here you delusional moron…

    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.

    He actually said the OPPOSITE OF WHAT YOU ACCUSED HIM OF YOU DUMB SHIT.

  2. CM

    That THIS is what you got from this article shouldnt surprise me, but it does.

    Where did I say that my comment was a summary of the article?
    Nowhere.

    He actually said the OPPOSITE OF WHAT YOU ACCUSED HIM OF YOU DUMB SHIT.

    I haven’t accused him of anything balthazar, I simply asked him a question.
    Anyway, Hal’s provided a sane assessment in his post, so this nonsense one can be shelved with the rest.

  3. balthazar

    Alex, are you seriously disputing that Government spending cuts hurt the economy?

    HE SAID THE OPPOSITE OF THIS AND I POINTED IT OUT TO YOU YOU IDIOT.

  4. stogy

    HE SAID THE OPPOSITE OF THIS AND I POINTED IT OUT TO YOU YOU IDIOT.

    Bal, I think this is more part of an ongoing debate that CM is having with Alex about the effects of stimulus on the economy, rather than a specific point about the article.

  5. balthazar

    Bal, I think this is more part of an ongoing debate that CM is having with Alex about the effects of stimulus on the economy, rather than a specific point about the article.

    even if this is true, he is BLATANTLY misrepresenting what was said by Alex in the article. I shouldnt expect any better from this goddamn troll, I suppose.

  6. Poosh

    Government spending, if done right, can produce the ILLUSION of growth, a bump. That bump, if you have a compliant media, can be used to create the impression that a government is putting an economy together. This false image can be enough to get you elected because the scope and damage causes by government spending is hard to fathom quickly, and easily “explainable” with lies.

  7. CM

    Newsflash to liberals: government spending does not drive an economy, at all, ever….

    Newsflash to SO: the last few years have been about keeping the economy and country afloat, spending a little more whent he private sector isn’t.

    Government spending, if done right, can produce the ILLUSION of growth, a bump.

    Government spending is, and has always been, a major factor in the economy, and therefore is always relevant to whether the economy is growing or shrinking at any given point.

    That bump, if you have a compliant media, can be used to create the impression that a government is putting an economy together. This false image can be enough to get you elected because the scope and damage causes by government spending is hard to fathom quickly, and easily “explainable” with lies.

    As opposed to the illusion and false image of debt-fuelled ‘growth?!

    Spending in the third quarter was higher as it is every year, irrespective of elections. This time it was also about the wars, and defense spending shrinking overall.

    There’s a reason for this. The fiscal year ends in September, and government agencies typically try to spend all the money Congress allotted them for that year by then — otherwise, they fear, they’ll get a smaller budget next time around.

    “In the Pentagon, you have to use it or lose it by the end of the fiscal year in September,” said Lawrence Korb, a former assistant secretary of defense now at the Center for American Progress, in a recent interview. “You see this a lot. ‘We’ve got to fly a lot this month for training, otherwise Congress will take back the money they gave us.’”

    Yet the ups and downs were especially sharp in 2012 — soaring 13 percent in the third quarter and dropping 22.2 percent in the fourth quarter. Part of that is due to the fact that defense spending is shrinking overall, thanks to budget pressures and the drawdowns in Iraq and Afghanistan.

    http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/30/why-defense-spending-dropped-22-last-quarter-and-shrunk-gdp/

    The only real way to get the economy moving in a healthy way is if the average person has more to spend. Buying shit is 70% of the economy, and yet in the last few years the growth in income inequality has started increasing again.

    * Those at the top are seeing their wages rebound quite strongly in the recovery. Following a 15.6 percent decline from 2007 to 2009, real annual wages of the top 1.0 percent of earners grew 8.2 percent from 2009 to 2011.
    * The real annual wages of the bottom 90 percent have continued to decline in the recovery, eroding by 1.2 percent between 2009 and 2011.
    * Wage inequality grew substantially over 1979–2007, lessened in the 2007–2009 downturn, and began expanding again in the 2009–2011 recovery. Trends over the next few years will determine whether wage inequality returns to or exceeds the heights reached in 2007 or 2000—or simply remains far higher than at any time in the 1980s and 1990s.
    * Given the strong stock market recovery and wage growth at the top, the top 1.0 percent’s overall incomes (which include wages, capital gains, and other returns on financial assets) probably grew strongly in 2011, thereby increasing income inequality.

    The only way the vast majority of people can spend is to borrow. Leading to an “economic recovery” propped up by unsustainable debt. Again. Which is what will happen.