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The Obama Boom: Media proclaims 2nd Quarter GDP of 1.5% awesome!

by Rodan ( 10 Comments › )
Filed under Business, Economy, Special Report at July 27th, 2012 - 10:09 am

2nd quarter GDP growth came in at 1.5%. To any economically literate person, this is terrible news. But to the media, we are in boom times!

U.S. economic growth slowed less than expected in the second quarter as consumers spent at their slowest pace in a year, potentially pushing the Federal Reserve closer to pumping more money into the economy.

Gross domestic product expanded at a 1.5 percent annual rate between April and June, the weakest pace of growth since the third quarter of 2011, the Commerce Department said on Friday. Dow Jones consensus estimates forecast growth at a 1.3 percent pace.

[....]

Excluding inventories, GDP rose at a 1.2 percent rate, the weakest pace since the first quarter of 2011. In the first quarter, the comparable figure was 2.4 percent.

Since “economists” where expecting 2nd Quater GDP to come in at 1.3%, the media claims that 1.5% is awesome. The economy slowed less than expected. They are doing everything to prop up their beloved god-king. You bet if it was a Republican President, they would be hounding about an anemic economy

 

 

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10 Responses to “The Obama Boom: Media proclaims 2nd Quarter GDP of 1.5% awesome!”
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  1. eaglesoars
    1 | July 27, 2012 10:40 am

    Bottom line: in Q2, the US added $274.3 billion in debt while adding $117.6 billion in GDP (from the revised data: Q1 GDP of $15,478 billion rising to just $15,595 billion in Q2). Probably what is more indicative, is that in Q2 the delta change between debt and GDP rose from 2.28x in Q1. But that too is largely noise and will be revised. What won’t be revised is that over the past two years, the US has added 2.42x more debt than it has added GDP.

    In Q2 America Added $2.33 In Debt For Every $1.00 In GDP


  2. Rodan
    2 | July 27, 2012 11:45 am

    @ eaglesoars:

    That’s chilling.


  3. eaglesoars
    3 | July 27, 2012 3:26 pm

    Rodan wrote:

    @ eaglesoars:

    That’s chilling.

    Learn to love zerohedge. No bullshit and you will learn lots.


  4. gibsonz
    4 | July 28, 2012 10:12 pm

    The liberal ‘spin’ cycle leaves little room for sanity, reality, or anything in between!


  5. darkwords
    5 | July 29, 2012 4:30 pm

    Romeny fails to impress unless he can scorch the media cycle to ashes.


  6. darkwords
    6 | July 29, 2012 4:31 pm

    Any news will be spun as good news for Obama and bad news for Romney. It’s the modern propaganda war that the GoP refuses to use guerilla tactics on.


  7. darkwords
    7 | July 29, 2012 4:32 pm

    Romney need to be back dooring the super pacs with slick ads against Obama surrogates. obama should be portrayed as wasteful and corrupt. We in the peanut gallery know that, but the likely voter has no clue. I have my doubts that the GoP can even hear a message like this.


  8. darkwords
    8 | July 29, 2012 4:34 pm

    Mitt should be seen as helping families survive the OBama depression.


  9. Prebanned
    9 | July 29, 2012 9:01 pm

    European style government brings European style growth, I am starting to feel more nuanced and cultured myself.


  10. Macker
    10 | July 31, 2012 2:26 am

    Prebanned wrote:

    European style government brings European style growth, I am starting to feel more nuanced and cultured myself.

    Et vous maintenant parlez Français? 8)


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