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GDP Q2 (Advance Estimate): +1.3% vs. +1.8% expected, +0.4% (revised) in Q1. GDP price index...

GDP Q2 (Advance Estimate): +1.3% vs. +1.8% expected, +0.4% (revised) in Q1. GDP price index +3.1% vs. +2% expected, +2% in Q1.
Comments (14)
  • User 353732
    , contributor
    Comments (4861) | Send Message
     
    The first quarter GDP was revised down to nearly zero.
    The second quarter GDP was probably zero or negative since the Govt is understating inflation and hence using a lower than true GDP deflator, thus falsely reporting higher than true real GDP.
    29 Jul 2011, 08:45 AM Reply Like
  • Peter Tchir
    , contributor
    Comments (1260) | Send Message
     
    how can a revision 4 months after the end of the quarter be so big? I am truly at a loss, as i would have thought that by this time Q1 data had been finalized? is it a mistake? it just seems unbelievable all the prior estimates could be so far off.

     

    Any rational man should question QE after this. That weakness was right in the heart of QE2. I know Ben is never wrong, but maybe he can reconsider? And the market is NOT the economy. Maybe policies should address the economy more and the market less.
    29 Jul 2011, 09:46 AM Reply Like
  • 2PP
    , contributor
    Comments (349) | Send Message
     
    Absolutely horrible number. Why can't these politicians just eat crow and do something for the good of the USA.
    29 Jul 2011, 08:56 AM Reply Like
  • CautiousInvestor
    , contributor
    Comments (3044) | Send Message
     
    How's that stimulus and QE working out guys? Or is this just another soft patch Ben?
    29 Jul 2011, 09:00 AM Reply Like
  • Peter Tchir
    , contributor
    Comments (1260) | Send Message
     
    someone at the fed has to question QE more seriously after these atrocious numbers.
    29 Jul 2011, 09:47 AM Reply Like
  • CautiousInvestor
    , contributor
    Comments (3044) | Send Message
     
    agreed peter. i think we are reaching stuctural limits beyond which the economy will not respond to the old nostrums, somewhat like japan.
    29 Jul 2011, 12:00 PM Reply Like
  • Sanitylost
    , contributor
    Comments (476) | Send Message
     
    Epic Fail
    29 Jul 2011, 09:06 AM Reply Like
  • HiSpeed
    , contributor
    Comments (1092) | Send Message
     
    Electing a socialist ideologue as POTUS has proven to be a very bad move for the country.

     

    More proof that the nearly $1T stimulus bill was a massive failure. No surprise.
    29 Jul 2011, 09:11 AM Reply Like
  • Papaswamp
    , contributor
    Comments (2198) | Send Message
     
    The US was well into the 'socialist' position it finds it in now. I see no difference between the fiscal habits of the 2 parties. Both have run this country into the ground.

     

    Remember…presidents do not put forth spending bills or taxes. That is the legislatures job. Though I don't care for the president's policies or idealism….this mess was already baking before he arrived. the lack of leadership in the WH as well as both houses will only make this worse. Frankly kicking everyone out would be the best plan.
    29 Jul 2011, 10:08 AM Reply Like
  • brokefoot
    , contributor
    Comments (2) | Send Message
     
    I think you just don't like our president. Which is fine. But the Economy will never really get moving until the real estate market turns around and that is going to take a really long time. It does not matter who our commander and chief is. And if you are looking for folks to blame for that, You have Clinton, Bush, the house of representatives and the biggest crooks of all, the rating agencies
    29 Jul 2011, 01:07 PM Reply Like
  • jwbrewer
    , contributor
    Comments (317) | Send Message
     
    I miss Econdoc's touting of those who believed that the economy was not as strong as Barry/SloJo and the Fed kept telling us. It must be heart breaking to see the failure of your god - Keynes.
    29 Jul 2011, 09:34 AM Reply Like
  • williamwilliam
    , contributor
    Comments (584) | Send Message
     
    I heard recently most drops in US GDP growth rate below 2% lead to a recession. (Actually, everything leads to a recession because there's always one on it's way sooner or later.)
    29 Jul 2011, 09:42 AM Reply Like
  • lancethenotsogreat
    , contributor
    Comments (13) | Send Message
     
    Does anyone wonder about the timing of all this bad news in proximity to the debt ceiling debate?
    29 Jul 2011, 07:31 PM Reply Like
  • Easydoesit
    , contributor
    Comment (1) | Send Message
     
    Oh for heaven's sake, anyone that thinks there's a dimes worth of difference between conservative Bush and "Socialist" Obama is nuts. Bush added nearly a trillion dollars in tax breaks to the debt while starting two expensive wars and Obama has continued both the tax breaks and the wars (while adding a couple of undeclared ones for good measure - which ought to have tickled the republicans pink). Bush and the republican congress gave us a $400- 600 billion per year (unfunded) medicare drug plan and Obama gave us a $700 billion per year health care program (which he at least pretended to fund in his budgets.) Both threw nearly a trillion dollars worth of bailouts at the TBTF banks and you can bet your sweet bippy that if Bush had been president for another term, he and Bernanke would have thrown the same $2 Trillion at the banks that Bernanke and Obama have, trying to salvage what's essentially not salvageable in the face of diminishing resources and increasing climate destabilization. And both bent the American people over so they could take it in the rear trying to save the Empire over the nation. And the republicans and democrats in Congress are no better.

     

    Grow up. We're screwed, because both sides are too busy courting their bases and their reelection financiers and waving their ideologies around to keep the country from collapsing around us. As far as I'm concerned, the whole lot of them- from Bushbama to the republicrats - ought to be taken out and shot for treason.
    30 Jul 2011, 04:25 PM Reply Like
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