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If the AP thinks it’s getting bad now, wait until the economy starts to fully absorb Obamacare. Or should I say, until Obamacare starts to absorb the economy.

Bring on the “unexpectedly” for the 48th straight month:

The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

The 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.

Let me get this straight… in September of 2012, the Federal Reserve launched QE3 in order to “rev up the economy.” In the 4th quarter the economy posted a “stunning drop,” and in reaction the first thing the Fed is talking about is doing another round of “quantitative easing”?

What’s the definition of insanity again?

Comments

19 Responses to “Associated Press: US Economy Posts ‘Stunning’ Drop… Unexpectedly!

  1. Marshall_Will on January 30th, 2013 2:57 pm

    More leeches..!

    The sheer number of scrubbed expansion plans, dashed start-up's and lay-off announcements post RE-election might have been a bit of a 'hint'?

    Isn't funny to note that Chappy at MM's claims to be an atty. specializing in entity structuring? East coast may be different but here in Oregon it's more about an orderly retreat and DEstructuring in a never ending wind down phase.

    The notion he's endlessly 'busy' strikes as gobsmacking contra to current trends and tons o' DATA/conventional wisdom. Even the number of PAC's, dim think tanks and non-profit community org. formation has fallen off a cliff. Then again, it's chappy's world..!

  2. Truesoldier__ on January 30th, 2013 3:02 pm

    Of course to the left this truly is unexpected. Just last night on my way home from work the top of the hour news (ABC radio news) reproted that Austin Goolsbee (former Obama admin economist) claimed that the DOW reaching to jsut about 14,000 was proof that the economy was roaring back to life with all cylinders firing. Now you have Dem's running around today saying that this is great news….mainly cause it shows we are cutting back on defense spending.

  3. Truesoldier__ on January 30th, 2013 3:04 pm

    Santelli once again hits the nail on the head:

    "Hey Joe," Santelli said, "when you act like Europe, you get growth rates like Europe, and our discussions with economists sounds like we're in Europe. They have the same discussions constantly."

    "They’re always doing the right thing," he continued. "They’re always thinking they know better. And this is the kind of growth. We have become Europe. We are now Europe."

    Steve Liesman pushed back, “We reduced federal spending, government spending by 15 percent. Which part of that’s not Europe don’t you get?”

    “And why do we need to reduce government spending?” asked Santelli. “Because we run trillion dollar deficits for crying out loud.”

    http://newsbusters.org/blogs/noel-sheppard/2013/0

  4. Truesoldier__ on January 30th, 2013 3:12 pm

    Probably a union attorney busy structuring deals for the members akin of the autobailout agreements and that is why he is busy all the time.

    No joke about the rest though. I saw that in Texas 3900 jobs were stopped due to the out of control EPA regulations on coal fired plants. One company that was planning to open a new plant has halted the plan and cited the EPA regulations as the direct result of killing the jobs.

  5. SignPainterGuy on January 30th, 2013 4:23 pm

    I guessed that Chappy was an ambulance chaser and remains busy healing his smashed nose from catching said ambulances. ;-)

  6. Marshall_Will on January 30th, 2013 5:07 pm

    Coming from Foolsbee, you just gotta' know it's the shizzle!

    Dude you're off the payroll, no need to SHILL any longer…

  7. Marshall_Will on January 30th, 2013 5:11 pm

    SPG,

    So many of his comments have always struck me more that of a law 'student' or at best, a newbie *junior* partner. Most trolls, like their pResident come off more "composite character" than an actual flesh and blood person.

    Keeping their chronology and background as.., 'fluid' as possible to make themselves the best possible All Weather Troll. I

  8. Marshall_Will on January 30th, 2013 5:15 pm

    TS,

    Gotta' love Rick! 'Spending' is (1) thing. What we've had over the last 5+ years resembles more splurging or an outright ORGY. We've adopted everything we 'thought' there was to 'admire' about our Eurotrash counterparts ( but somehow they delude themselves into thinking good old American Ingenuity will allow them to succeed where everyone else failed? )

    Or that doing the Final Installation of Cloward-Piven was A.I's highest calling!

  9. Truesoldier__ on January 30th, 2013 5:34 pm

    Just saw that the Carney is claiming this news is the fault of the GOP due to their holding up "progress" via the fiscal cliff negotiations which lead to less spending on defense. Which is funny as they Dem's are also claiming that the news isn't that bad, because a lot of it has to do with less defense spending (or as they like to say savings) in both Iraq and Afghanistan.

    Double speak at its finest!'
    http://thehill.com/homenews/administration/280129

  10. jeffythequick on January 30th, 2013 5:53 pm

    George W. Bush was unavailable for comment blame.

  11. SignPainterGuy on January 30th, 2013 6:07 pm

    I can see that – with a generous helping of all-around knowledge in most areas and a dash of ignorance sprinkled with humility to make him not totally obnoxious. It isn`t working entirely !

  12. SignPainterGuy on January 30th, 2013 6:08 pm

    But he believes it to the bone !

  13. SignPainterGuy on January 30th, 2013 6:11 pm

    I`m leaning toward the C-P thing; overload the system / try to ram thru everything incl. the kitchen sink while they have the chance to get as much passed as possible. Even if most is stopped, some will get thru and some will be so well hidden it may never be found / removed !

  14. SignPainterGuy on January 30th, 2013 6:13 pm

    H. Sandy is carrying the torch of blame for now. Well, except for the violence in Chicago; they`re blaming all that on GoreBull Warming. Fascinating !

  15. Truesoldier__ on January 30th, 2013 6:26 pm

    Agreed. Ram thru legislation as quickly as possible while also trying to undermine the social/moral fabric of the nation via "community organizing" tactics via the media (both old and new). Remember, they have to tear it down before they can rebuild it into their utopia.

  16. Marshall_Will on January 30th, 2013 8:07 pm

    Lol, no, not 'entirely'. Remotely even…

    Clutching for nearest loose thread on minor/inconsequential point to discredit Doug/MM and derail/aggravate in general. The kinds of questions kids that didn't finish their assignment ask when stalling for time.

  17. Marshall_Will on January 30th, 2013 8:14 pm

    In the Great Escape, there's a scene where midway thru shuffling POW's outside the wire, an AIR RAID strikes..! They Gerry's are forced to douse the prison compound perimeter lights and it becomes what they feel is a real stroke of 'luck'.

    I know you all recall the scene. Several are captured within feet of the fence, the tunnel's still backed up ( with HELL to pay for those left behind ) and only Danny and the young Brit evade execution or re-confinement.

    It's easy for them to play this game, when the casualties aren't theirs.

  18. jeffythequick on January 30th, 2013 9:39 pm

    Couldn't possibly be the issue with business owners not knowing how much all this regulation will cost, and the cost of laying people off, so they're just not doing anything but keeping pace, could it?

  19. SignPainterGuy on January 31st, 2013 12:09 am

    IOW, picking the nit until there is barely the memory of the original nit being picked ? He gets help with that one ! ;-)

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