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  1. #1
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    US Economy shrinks in 4th quarter

    So all that "growth" the spending and programs were supposed to create... all that growth and change... ya about that:

    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 decline occurred despite faster growth in consumer spending and business investment.

    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 and the first contraction since the second quarter of 2009.


    http://finance.yahoo.com/news/us-eco...133115372.html

    Morons

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    The whole "OH GOD FISCAL CLIFF WE'RE ALL DOOMED" media hype that happened for all of December certainly didn't help.

  3. #3
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    Click here to enlarge Originally Posted by gary88 Click here to enlarge
    The whole "OH GOD FISCAL CLIFF WE'RE ALL DOOMED" media hype that happened for all of December certainly didn't help.
    Nothing the media does helps.

    Nothing the government is doing helps.




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    They should just let the market correct itself. Enough stimulus this stimulus that.

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    Its Bush's fault..

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    Click here to enlarge Originally Posted by LostMarine Click here to enlarge
    Its Bush's fault..
    Remember Obama....you point that finger at Bush, 3 more point back at you...

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    Not suprised at all. But it's all republican's fault they say....

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    I don't think this term the President will use G. Bush as a foil. I think this term he is becoming a popular vote focused leader and will use the dysfunctional congress as his target. I am convinced that He is driven by polls, so if popular opinion supports it he will push hard to do it.

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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
    From your same article:
    Economists said the surprise decrease in the nation's gross domestic product wasn't as bad as it looked. The weakness was primarily the result of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.
    "Frankly, this is the best-looking contraction in U.S. GDP you'll ever see," Paul Ashworth, an economist at Capital Economics, said in a note to clients. "The drag from defense spending and inventories is a one-off. The rest of the report is all encouraging."
    Stimulus ain't got nothing to do with it! Budget cuts from Government austerity in defense (sequester adjustments) and companies adjusting inventories as a natural part of the business cycle.

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