Obama Recovery: Q4 GDP goes negative

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    Re: Obama Recovery: Q4 GDP goes negative

     

    Corporate Profits Have Grown By 171 Percent Under ‘Anti-Business’ Obama

     

    http://thinkprogress.org/economy/2013/01/17/1461871/corporate-profits-anti-business-obama/

     

    U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II

     

    Profits are more than twice as high as their peak during President Ronald Reagan’s administration

     


    You were saying ?????

     

     
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    Re: Obama Recovery: Q4 GDP goes negative

    Much of the "record" corporate profits are kept overseas, due to our insanely high corporate tax rate ....the "tax the evil rich corporations" liberals have done a great job ruining the US economy...

    The 70 U.S.-based companies studied hold $1.2 trillion in profits around the world. GE and Pfizer have built up the most money outside the U.S., with $102 billion and $63 billion respectively, according to securities filings. Apple Inc. (AAPL), Google Inc. (GOOG) and Microsoft Corp. (MSFT) were among the companies that increased their accumulated overseas profits by more than 40 percent in 2011.

    As U.S.-based companies expand globally, they keep profits overseas, legally out of the reach of the Internal Revenue Service. Lawmakers from both political parties point to the stockpiling as a symptom of a failed corporate tax system, even while they remain deadlocked over whether the U.S. should impose higher or lower taxes on its companies’ global profits...

     
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    Re: Obama Recovery: Q4 GDP goes negative

    Historical GDP continues to trend upward since President Obama originally righted the capsized S.S. GOP George W. Bush, which he inherited on Jan 20, 2009.

    It always takes longer to clean up a mess than it takes to make it.

    Slow and steady wins the race.

    Dec. 31, 2012 15.83T
    Sept. 30, 2012 15.81T
    June 30, 2012 15.59T
    March 31, 2012 15.48T
    Dec. 31, 2011 15.32T
    Sept. 30, 2011 15.16T
    June 30, 2011 15.00T
    March 31, 2011 14.81T
    Dec. 31, 2010 14.74T
    Sept. 30, 2010 14.58T
    June 30, 2010 14.41T
    March 31, 2010 14.27T
    Dec. 31, 2009 14.13T
    Sept. 30, 2009 13.95T
    June 30, 2009 13.89T
    March 31, 2009 13.92T
    Dec. 31, 2008 14.08T
    Sept. 30, 2008 14.40T

    http://www.bea.gov/national/index.htm#gdp

    Source: The United States Departmetn of Commerce's Bureau of Economic Analysis

     
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    Re: Obama Recovery: Q4 GDP goes negative

    Its a minor flucuation that will likely revise upward once actuals replace estimates.  But its clear that stagnation in Congress is still affecting the economy.  Defense spending dropped as many contractors are winding down jobs due to the uncertainty of sequester cuts taking hold.  State and local spending was down, which contributed to the slow growth as many states cut back during December of 2012 due to uncertainty on fiscal cliff negotiations. 

     
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    Re: Obama Recovery: Q4 GDP goes negative

        Decrease in defense spending plus increase in home bldg activity should have been a boon for GDP.  Where is the Clinton peace dividend effect?  

     

    U.S. economy contracts for first time since recession

    By Annalyn Kurtz @CNNMoney January 30, 2013: 10:33 AM ET

    NEW YORK (CNNMoney)

    Uncle Sam cut spending and businesses drew down inventories in the fourth quarter of 2012, causing the U.S. economy to contract for the first time in more than three years.

     

    Obama's GDP headache

    By GLENN THRUSH | Politco

    1/30/13 11:32 AM EST

    Today's news of a 0.1 percent shrink in the 4th Quarter Gross Domestic Product is ambiguous in terms of the economics -- the fall was largely due to a drop in government spending and some shuffling of private inventories.

    Nonetheless, the politics are unambiguously terrible for Barack Obama. This was a White House humming along with its "Recovery Winter" storyline, and Wednesday's bad number forces them into a defensive crouch after an early 2013 spent on offense. The words "unexpected contraction of the GDP" are never music to a White House, especially a White House singing new tunes on immigration, guns, et al.

    The facts, as my colleague Joseph Schatz points out:  "[T]he 0.1 percent fourth-quarter GDP contraction announced by the Commerce Department drew mixed reactions from economists, with little talk of a “double dip” recession."

    The Dow, at least in early trading, was taking it like a mosquito bite. It didn't hurt that ADP, which recently tightened its methodology, also reported a fairly robust addition of 192,000 private sector jobs added in the last month.

    But the bad news for Obama was an interruption in the we're-finally-roaring-back narrative -- it was the worst GDP hit since the depths of the '09 near-depression -- and it gave an adrenal jolt to the a GOP messaging establishment left supine by the Mitt Romney mirage and recent soul-searchy infighting.

     
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    Re: Obama Recovery: Q4 GDP goes negative

    Sadly our permanent state of war has been artificially propping up the economy. 

    To the free enterprise republicans, Military stimulus--Good, Non Military stimulus--bad.

     
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    Re: Obama Recovery: Q4 GDP goes negative

    Cosumer spending is the main driver of economic activity.

    The first qtr and beyond of 2013 with every consumer have less money in their pay checks will almost certainly be no better!!

     
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    Re: Obama Recovery: Q4 GDP goes negative

    In response to tvoter's comment:

    Cosumer spending is the main driver of economic activity.

    The first qtr and beyond of 2013 with every consumer have less money in their pay checks will almost certainly be no better!!



    Consumer spending is highest during 4th quarter due to how do I say it; "holiday" sales.

     

    So this isn't good at all.

     
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    Re: Obama Recovery: Q4 GDP goes negative

    $16,500,000,000,000 and going up by almost $4 billion a day. Plus interest!!!!

    The debt is a permanent and growing weight around the neck of the economy. 

    The only companies growing at the same rate as our deficit are Ruger, Smith and Wesson, Colt, Sig Sauer, Savage, Browning, Beretta and Winchester.....

     
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    Re: Obama Recovery: Q4 GDP goes negative

    In response to massmoderateJoe's comment:

    In response to tvoter's comment:

    Cosumer spending is the main driver of economic activity.

    The first qtr and beyond of 2013 with every consumer have less money in their pay checks will almost certainly be no better!!

    [QUOTE]

    Consumer spending is highest during 4th quarter due to how do I say it; "holiday" sales. 

    So this isn't good at all.




    We could be entering the next recession.

     
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    Re: Obama Recovery: Q4 GDP goes negative

    In response to WhatDoYouWantNow's comment:
    [QUOTE]

    In response to tvoter's comment:

    We could be entering the next recession.   [QUOTE]

    You guys seem almost excited at the prosepct. I'd be too, if my purpose in life was to fecelate liberals.

    [QUOTE]


    "You guys"? lol

    It seems likely that with the 4th qtr contracting usually a good qtr due to holiday spending etc; that the next 2 qtrs with people getting smaller pay checks could mean the definition of a recession (3 consecutive qtrs with the economy contracting)!

    Paranoia will destroy ya!!! lmao

     

     
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    Re: Obama Recovery: Q4 GDP goes negative

    "Geepers, I wonder what the whacko wingnuts were expecting would happen when the economic activity of the gov't, which represents 40% of GDP, is slashed?Again, the whacko wingnuts are displaying their ignorance of all things economic."

    Our progressive friends DO understand the economy. Every single one has their snout firmly stuck in the trough of the public sector, taking a check from the Almighty God of Government. Some might actually work, even...

    Government workers support a larger Government, it is in their economic interest. Though they of course gloss it over with the idea larger Government is 'compassionate'.

    The economy is fine, by their reckoning. Because to them all that matters is the Nanny State keeps growing....

     

     
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