HaHaHaHaHaHa!!!!!!!!!!!
2009 May 11
24 Responses
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“He was guilty of nothing, except that he earned his own fortune and never forgot that it was his.“ The concept contained within that phrase is what has set America apart, and made her the greatest nation on Earth. And it is the systematic attack on that concept, that this website is dedicated to fighting. This website is NOT devoted to making people “wealthy”, but rather to fighting the notion that the “wealth” they DO have needs to be “redistributed”.
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[1]
I would cry it this was not so laughable.
The only thing they going for them is the fact that 4Q is generally very strong due to the holiday seasons. Problem is 4Q is also highly retail oriented. So if its going to be bad — again, then look for WalMart/Target/BigLots to win big and Macy’s/Dillards/Sears/et.al to have it very bad. Its a downshift in expectations if it stays nasty.
[2]
Based on what? Let them talk, it will come back to bite them. That is if the GOP can get its act together.
[3]
Chek, this is a case where I don’t think the GOP has to do a thing till the numbers are in. Fortunately, since the GOP seems to bumble everything they touch right now.
[4]
“THE ECONOMY WILL BE UP BY THE END OF THE YEAR”,
MUGABE O’VOMIT PULLED THAT ONE FROM HIS REAR,
THESE WARMED OVER MARXISTS HAVEN’T A CLUE,
THEIR ONLY GOAL IS TO HOSE ME AND YOU,
BEST SIT BACK AND HAVE ANOTHER BEER.~~~:SMILE
SSTBO~~WAS~~~
[5]
:SMILE:
[6]
“The Obama administration projected that the U.S. economy will expand at a 3.5 percent annual rate by year-end, a rebound that would be almost twice as strong as private forecasters expect. “—MFG
How are they using the term ‘annual rate’? Are they going to average out each month and get an aveage of 3.5%? Wouldn’t that make it an average monthly rate?
If the economy shrank by a significant amount during the first six months of the year, then wouldn’t if have to grow by a significant amount to get to a 3.5% rate?
Or am I showing my lack of economic credentials?
[7]
OOps — I had a thread pending on this very subject — looks like MFG beat me to it.
[8]
so not to duplicate the thread … here are my thoughts
So the White House is projecting 3.5% economic growth by the end of the year.
But in the first quarter GDP decreased by -6.1% And 4th quarter 2008 was -6.3%
And no leading indicators for the 2nd quarter that shows that contraction being at best even half of the 1st quarter decline.
Here is the history since 1940’s
Okay in Q4 of 1980 there was a 8.3% swing from negative to positive. However, that was the bounce from the President Reagan win. The WH must be projecting the Zero as Reagan myth again.
I don’t see it. I’m not sure I even buy into the Blue Chip projection of +1.8%.
Zero and company also project lower inflation. Obviously they haven’t looked at the charts of the value of the dollar nor understand what happens to the value of money when you print trillions and trillions of it…..
Now me — I am looking at cornering the market on wheelbarrows — because people will need them when they go to the grocery store — except the store shelves may end up relatively empty….
God help us…
[9]
Thanks for posting that, Judy
I see I wasn’t that far off the mark. If we were at -6.1% for the 1st quarter, then the last quarter is really going to be something to behold.
If we read the story carefully, you will notice it says ‘growth’. This excersize only works if you view the story throught the eyes of a Liberal. If the econmy shrank by 10% one quarter, than shrank by 7% the next, couldn’t that be seen as a growth of 3%?
[10]
Just saw this at Hot Air:
CBO: 2009 deficit 50% greater than expected
[11]
INC
I am SHOCKED! SHOCKED! Government programs costing more money than projected! SHOCKED!
[12]
No tony — you have that right…
But I suspect what the Zero’s are going to say they meant in order to prove the meet their “projections” is when December retail is up because of the seasonal shopping (before the seasonal adjustment) is that December will be a +.29% up (which is a pretty lame Christmas season if you ask me) and then they will multiply it by 12 and tell you that if the December up of +.29% happened all year we would have a 3.5% growth.
The Zero’s will not use the formual of -6.1 Q109 + ?Q209 + ?Q309 +?Q409 = 3.5%. Now if Q2 is already well established to be -2% at best, then simple algebra would tell you the US economy would have to make a big turnaround in Q3 or Q4 to average to 3.5%.
At this point there are not indications for a Q3 turnaround and if Q4/ Christmas does that well I would be more concerned about the mental health of the American consumer.
[13]
CT — LOL — ahhh liberal algebra…LOL
[14]
I just love that pet name for Obama: Zero.
LOL
[15]
Whatever happened to lyricman??
[16]
anecdote: Construction is so slow around here that The Livingston Cement Plant (making large batches of cement for pumpers to haul around to job sites) didn’t even open up for business today.
Now what was that unreal figure of growth mentioned in MFG’s linked article?
What has Obama’s Economic Team been smoking lately?
[17]
#
Just saw this at Hot Air:
CBO: 2009 deficit 50% greater than expected
2009 May 11
chekote
INC
I am SHOCKED! SHOCKED! Government programs costing more money than projected! SHOCKED! — Chek
Heh. Has nothing about government programs costing more. Has everything to do with Tax Receipts falling faster than Galileo’s gravitational observations. –
Business this time around got ahead of the curve on a Dim administration. They started reducing headcount and slashing inventory (such as it is in a just-in-demand world these days.) The fact that the latest tBill round went up .2% won’t help either!
[18]
hmm. Link did not work. Here the table on tax receipts.
[19]
INC,
By the way Morrisesy has a piece that even the WH concedes that there will be no job growth in 2009. I certainly am not surprised.
[20]
ask folks here in the SF Bay Area about Obama’s $1.5 TRILLION deficit and you get THIS response ONE HUNDRED PERCENT OF THE TIME:
“George Bush ran up huge deficits…which Obama inherited”
100% of the time. And don’t even THINK about getting them to focus on the fact that Obama has TRIPLED the amount he “inherited”.
[21]
does a 3.5% annualized growth rate mean that the econ grows at 3.5% in a quarter and they report that as the growth rate as if it was for the year?
So they are saying that the gdp will grow by 3.5% in 4th quarter of 2009? Not bloody likely….
[22]
nah…the predictions are just to give the newspapers some “Happy News” to report. by the end of the year no one will remember the “predictions”. And those that DO will be labeled “hate mongers”
At least we won’t have to buy a new calendar each year!!
It’ll always be 1984
[23]
Fuzzy math strikes again!
“So they are saying that the gdp will grow by 3.5% in 4th quarter of 2009? Not bloody likely”
—
It’s possible, but like you said not likely, but even if they hit 3.x something in Q4 like others said it’s not really the annual rate. Doesn’t matter though you all know the press will play it up in January as “Economy rebounds, grows at 3.x%, Obama saves Christmas”. You know it’s coming.
[24]
“Although the economic downturn so far in 2009 has been more severe than the administration expected when the forecast was finalized, IF the financial system begins to function more normally, there is every reason to expect a somewhat stronger recovery given the depth of the current recession,” the White House said today.
Liberal Translator:
Okay, we were DEAD FRICKIN’ WRONG on our earlier predictions and instead we’ve helped SINK every financial indicator down to their lowest possible depths in decades let’s all hold hands and chant this magical spell together:
I wish I may ~~ I wish I might ~~ I wish our economy wasn’t such a dreadful fright…
Phfffttt!!!!
Idiots! ~ Every liberal in America ~ and every shortsighted voter who put these Dimwits in charge!
