Our Fine Economy!!!!!

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US economic growth in Q4 revised down to 2.2 percent

WASHINGTON (AP) — The U.S. economy slowed more sharply in the final three months of the year than initial estimates, reflecting weaker business stockpiling and a bigger trade deficit.

The Commerce Department said Friday that the economy as measured by the gross domestic product grew at an annual rate of 2.2 percent in the October-December quarter, weaker than the 2.6 percent first estimated last month. It marked a major slowdown from the third quarter, which had been the strongest growth in 11 years.

Economists, however, remain optimistic that the deceleration was temporary. Many forecast that growth will rise above 3 percent in 2015, which would give the country the strongest economic growth in a decade. They say the job market has healed enough to generate strong consumer spending going forward.

The economy is “doing just fine,” said Paul Ashworth, chief U.S. economist at Capital Economics, who noted that although GDP growth slowed in the fourth quarter, the U.S. added an average of 284,000 new jobs from October through December.

For all of 2014, the economy expanded 2.4 percent, up slightly from 2.2 percent growth in 2013. …..

Read more at the link.

The “new jobs” created in the last year were primarily due to Zerocare and the work week mandate.  Any worker with more than 30 hours a week had to be provided job provided health insurance from most businesses.  (All with more than 50 employees).  So, what did many businesses do?  They cut hours and hired more people.  Job creation at it’s finest!!!!

Given the perverse manner in which the GDP is now calculated, a 2.2% growth in GDP is a backwards motion for the overall health of the US GDP.  (This would vary from nation to nation.)  The fact of the matter is, GDP no longer holds much meaning towards the fiscal health of the populace.  GDP is easily manipulated by government spending, unfunded retirement schemes, and whatnot, none of which makes the gross domestic population any wealthier by any real standard. 

Indeed, for a basis alone, a real measure of actual increase must first, subtract population growth (both legal and illegal) and deficit spending, (because we all have to pay the deficit back, there’s no economic growth in increased spending for the sake of increased spending.)  Many more things should also be subtracted (such as unfunded retirement plans), to get a true measure of actual growth, but, none of that will be recognized in our lifetimes. 

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7 Responses to Our Fine Economy!!!!!

  1. Bruce of Newcastle says:

    Remember when it was 5% and all the usual lefties were shining Obama’s shoes in awesomeness?

    I predict history will revise Obama’s record from the most amazingest President evah to something lower than that. Carter will be glad no longer to hold that possie in the scheme of things. Even the killer rabbit will look down on Obama’s record.

    Incidentally even the 2% or so of GDP rise was only spent on Obamacare:

    Here Is What Americans Spent Their “Gas Savings” On

  2. Lars P. says:

    Heh, to the abiotic oil theory:
    http://www.newscientist.com/article/mg20827874.800-life-is-found-in-deepest-layer-of-earths-crust.html#.VPE8ymO37tQ
    “This deep biosphere is a very important discovery,” says Rolf Pedersen of the University of Bergen, Norway. He points out that the reactions that produce oil and gas abiotically inside the crust could happen in the mantle, meaning life may be thriving deeper yet.

  3. DirkH says:

    Your leftists will for the next months busy themselves calling Scott Walker a mass rapist. (Through an amplifier chain Jezebel-Wonkette-Daily Beast they managed to fabricate a false story that immediately collapsed, but the selective perception of their readers will now drive them to their usual Disney-lemming-style protesting mode). (Also, from what does Daily Beast want to distract?)
    http://twitchy.com/2015/02/28/lying-hacks-campus-rape-reporting-hit-piece-on-scott-walker-implodes/

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