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US economy shrinks 0.1 pct.,
1st time in 3 1/2 years

Associated Press, by Christopher S. Rugaber

Original Article

Posted By:Dreadnought, 1/30/2013 8:57:42 AM

WASHINGTON -- The U.S. 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.

  

Post Reply  

Reply 1 - Posted by: Coy860, 1/30/2013 9:07:05 AM     (No. 9148107)

THIS.....was.....UNexpected!
s/


Reply 2 - Posted by: Guard SGT (ret), 1/30/2013 9:11:39 AM     (No. 9148119)

Barry blames Mr. Limbaugh for not spending enough of his money to keep the economy going.


   

 

  


 
Reply 3 - Posted by: Revolution76, 1/30/2013 9:12:10 AM     (No. 9148121)

Correction. First time that government spending was unable to hide the sorry state of the economy in 3.5 years.


Reply 4 - Posted by: Whamdbambam, 1/30/2013 9:12:46 AM     (No. 9148123)

"I do not think the word ´unexpectedly´ means what you think it means."


Reply 5 - Posted by: Msctex1, 1/30/2013 9:18:53 AM     (No. 9148141)

Obamanomics. The opposite of Reganomics.


Reply 6 - Posted by: graniteman2009, 1/30/2013 9:20:01 AM     (No. 9148144)

This story will get buried by the press


Reply 7 - Posted by: Jethro bo, 1/30/2013 9:20:13 AM     (No. 9148145)

So, does this mean that Happy Days are here again with double dip recession just days away? Just as socialist sooner or later run out of other people´s money, so to do lying goobernment bureaucrats run out of smoke and mirrors statistics. And with Obambicare starting to crank down on the economy, expect even worse.


   

 

  


 
Reply 8 - Posted by: NorthernDog, 1/30/2013 9:20:58 AM     (No. 9148147)

FTA: Frankly, this is the best-looking contraction in U.S. GDP you´ll ever see, Paul Ashworth , an economist at Capital Economics, said.....Another positive aspect of the report: For all of 2012, the economy expanded 2.2 percent, better than 2011´s growth of 1.8 percent.

Nice try at putting lipstick on a pig AP. Remember when 2.7% positive growth cost Bush 41 a second term because it was the worst economy ever and forever?


Reply 9 - Posted by: FenwayFrank, 1/30/2013 9:24:47 AM     (No. 9148158)

Apparently, even more "shovel-ready" jobs aren´t exactly "shovel-ready".


Reply 10 - Posted by: HerbVA, 1/30/2013 9:27:09 AM     (No. 9148165)

I am waiting for the "legacy of Bush" excuse.


Reply 11 - Posted by: Time4AR2, 1/30/2013 9:28:34 AM     (No. 9148169)

#3 gets it.

I would point out that government borrowing reached the debt limit late last year and had to be curtailed. Resultantly, no growing economy.


Reply 12 - Posted by: Keekng, 1/30/2013 9:32:32 AM     (No. 9148175)

Good job,Bam Bam.


   

 



 
Reply 13 - Posted by: bob913, 1/30/2013 9:33:37 AM     (No. 9148177)

During the Christmas holiday my cousins very liberal husband says the economy is on fire
A co-worker was also saying the economy is improving.

You know something? I think their both smoking crack!


Reply 14 - Posted by: Fiesta del sol, 1/30/2013 9:34:30 AM     (No. 9148179)

It´s not unexpected for those of us out here in the real world, paying more at the grocery store, gas station, Doctor´s office. The only "enjoyment" I will get out ofmthismis watching the media ignore this. I fully expect Obama and his Kneepad media pals to roll out Sandra Fluke or some other distraction to protect their Lord and Savior.


Reply 15 - Posted by: suziesuburbanite, 1/30/2013 9:35:35 AM     (No. 9148183)

And this may be the high point of the year. Bam bam is looking more like Herbert Hoover than FDR


Reply 16 - Posted by: Redneck In NY, 1/30/2013 9:42:28 AM     (No. 9148199)

If this "accidental reporting" keeps up on the economy, watch for Sen Mendenez to be served up for a distraction story.


Reply 17 - Posted by: djcdjc, 1/30/2013 9:44:36 AM     (No. 9148202)

A 1.5 trillion dollar deficit supporting a 16 trillion dollar GDP implies a 9% annual growth shrinkage. Ditto last year and the years before.


   

 

  


 
Reply 18 - Posted by: King of all trolls, 1/30/2013 9:45:03 AM     (No. 9148205)

Yet the stock market is headed for record highs???
What we have here is a juiced economy and a hysterical stock market. Thank you, alchemists running the Federal Printing Press.


Reply 19 - Posted by: horacer, 1/30/2013 9:45:36 AM     (No. 9148206)

Let the spin begin! This was horrible. Personal spending was the only component that was up and that was due to the fiscal cliff. Asset sales and dividends were way up, otherwise we´d be looking at -1.0%.


Reply 20 - Posted by: jimmiet, 1/30/2013 9:50:03 AM     (No. 9148215)

And the beat goes on. How many billions has gov´t sucked out of the economy to pay for cell phones, Solyndra, TSA, SEIU, GM, etc etc. This is by design to destroy America and to create the globalist environment the Soros´ of Davos so desperately want. The conspiracy theory is not theory.


Reply 21 - Posted by: AirForceCane, 1/30/2013 9:51:48 AM     (No. 9148217)

How is it a "one off" drag on the economy ...

when the sequester of HALF A TRILLION DOLLARS IN CUTS has not even happened yet?!!

it really is Pravda like propaganda reading our media...


Reply 22 - Posted by: Illinois Mom, 1/30/2013 9:52:20 AM     (No. 9148220)

Will Obama pay attention now? We´re dying out here. Our stories range from frustrating to tragic.

Businesses are hanging on by a thread...cutting to bare bones. Employees are losing basic things like earned vacations, or holiday pay,and those are the ones lucky enough to still have a place to work.

How many marriages couldn´t handle the strain of the past four years? How many people now need anti-anxiety meds to deal with the constant fear? How many people couldn´t cope with the shame of losing their homes or businesses to bankruptcy? (It´ still abhorrent to responsible people who have always worked for what they have)

Is there no one with the guts to confront him? The economy is NOT roarring back as I heard on a news story yesterday....while the POTUS flew to Las Vegas and had a STUPID "pep rally" in the gym of high school whose students can´t read or write. I guess he needed his mandatory friendly audience.

Next on his tone deaf agenda....Green Energy.


   

 



 
Reply 23 - Posted by: JAN, 1/30/2013 9:54:08 AM     (No. 9148224)

Everyone knows that these numbers exist only on Fox News.


Reply 24 - Posted by: arcady, 1/30/2013 9:55:25 AM     (No. 9148228)

Notice, just notice, how the world didn´t come to an end with the unexpected diminishing of government spending. The sun still rose, equities actually rallied (though yes, partly Fed induced). The emperor isn´t wearing any clothes! Watch the spin because this is bad news only for the people busy spending other peoples money. The ones strangling the US economy.


Reply 25 - Posted by: The Architect, 1/30/2013 10:04:01 AM     (No. 9148255)

You can´t blame Zippy. After all, he inherited this economy from the administration in power for the last 4 years. Oh, wait........


Reply 26 - Posted by: fljack, 1/30/2013 10:09:15 AM     (No. 9148271)

Obummer did create shovel ready jobs....for the MSM and others covering this criminals activity for 5 years by shoveling manure at the public.


Reply 27 - Posted by: Eheu Fugaces, 1/30/2013 10:17:39 AM     (No. 9148294)

This report indicates that the election is truly over, and everyone can stop publishing optimistic reports. Now, can we please finally see the real unemployment figures?


Reply 28 - Posted by: lil dotty, 1/30/2013 10:25:29 AM     (No. 9148312)

Hey, Barry!! How about a smoke? And perhaps some of that good stuff on the rocks. Like a laser huh?


Reply 29 - Posted by: Msctex1, 1/30/2013 10:26:01 AM     (No. 9148315)

#27´, things will only get worse in that regard, not better. Nothing they do will ever work or help, so more and more shameless lies are all they have left.

Up will be down before this is over. We already spend in order to pay down debt, so why sold anything less be expected?


Reply 30 - Posted by: snewb098, 1/30/2013 10:29:14 AM     (No. 9148324)

How about another Stimulus??


Reply 31 - Posted by: fb2002, 1/30/2013 10:29:58 AM     (No. 9148327)

It´s amazing how the bad economic news comes just after the election. Of course it is Bush´s fault. Federal government just needs to spend more money to jump start the economy, it did not work before, so why should we learn from our past experience?


Reply 32 - Posted by: stablemoney, 1/30/2013 10:36:15 AM     (No. 9148342)

Obama can blame it on his predecessor -- Obama.


Reply 33 - Posted by: TrueBlueWfan, 1/30/2013 10:55:07 AM     (No. 9148396)

Just imagine how bad it would be if they weren´t fudging the numbers.


Reply 34 - Posted by: Marzipan, 1/30/2013 10:58:58 AM     (No. 9148411)

oink oink oink, what paper on the wall? What horse? (paraphrased Animal Farm)


Reply 35 - Posted by: Ecclesiastes, 1/30/2013 11:02:06 AM     (No. 9148423)

It shrank ... during CHRISTMAS!?


Reply 36 - Posted by: federale, 1/30/2013 11:09:07 AM     (No. 9148445)

And Obamacare is only beginning to take effect. Obama´s goal like Castro´s is to make everybody equal in their misery.


Reply 37 - Posted by: MOBeef4u, 1/30/2013 11:32:16 AM     (No. 9148526)

A comparison is made to the 3rd (July thru Sept.) quarter. I was suspicious of that as a pre-election fake-out. I take all numbers coming from this bunch with a grain of salt.
As for the stock market rally, the current average p/e ratio is around 11, a perfectly acceptable number which says stocks are not overvalued in relation to earnings. Corporations are doing something right.


Reply 38 - Posted by: badrad, 2/1/2013 4:12:58 AM     (No. 9151754)

Harry ad Barry have a simiar idea of what a recovery looks like?

Thy call themselves the dynamic duo but are really the gruesome twosome of the lies about the economy. Or lies in general. The Father of lies used to be Satan, the devil, old Ned... Now he may be a long legged skeet shooter with a close second in a dried up old desert rat, Harry Reid.



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