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The Economy, The Recession, Recovery and Roots
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tsiya



Joined: 18 Nov 2010
Posts: 4017
Location: Cabbage Hammock

PostPosted: Sun Mar 02, 2014 9:36 pm    Post subject:  Reply with quote

The rule of thumb for the estimators is to at least double the positives and equally under report negatives.

It's mostly BULLSHIT math!

The economy isn't going to grow properly until the liberals are forced to leave it alone.
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Bob

"The urge to save humanity is almost always a false front for the urge to rule."
H. L. Mencken
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bieramar



Joined: 19 Nov 2010
Posts: 4441
Location: Taylor Ranch, NM

PostPosted: Mon Mar 03, 2014 12:24 am    Post subject: Reply with quote

Increasing GDP is better than decreasing GDP, isn't it?
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tsiya



Joined: 18 Nov 2010
Posts: 4017
Location: Cabbage Hammock

PostPosted: Mon Mar 03, 2014 12:42 am    Post subject: Reply with quote

Whatever, bullshit is always bullshit. Nothing from any branch of federal government is credible at this time. They lie instinctively, automatically and without fail. it is the only thing about them you can count on
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Bob

"The urge to save humanity is almost always a false front for the urge to rule."
H. L. Mencken
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bieramar



Joined: 19 Nov 2010
Posts: 4441
Location: Taylor Ranch, NM

PostPosted: Mon Mar 03, 2014 1:23 am    Post subject: Reply with quote

O.K., the second estimate of last year's 4th quarter GDP (2013 Q4) was changed, as also was the third, and final, estimate of 2013 Q3 - the normal 3-step process which has existed for years. Q4 was decreased to a +2.4% real GDP, and Q3 increased to +4.1%. Real GDP is defined as "OUTPUT OF GOODS AND SERVICES PRODUCED BY LABOR AND PROPERTY LOCATED IN THE UNITED STATES."

Now, what do the numbers mean?- in non-jargon language hopefully we all can understand.

1. Federal government spending decreased by a whopping 12.8%, and state/local government spending dropped by 0.5%. Together this decrease in government spending accounted for the reduced GDP estimate to +2.4%.  Is this not a good thing?  Isn't decreased government spending the goal of fiscal conservatives? The goal of Tea Partiers?  It sure is my goal.

2. Exports of goods and services increased 9.4% (imports by 1.5%).  More good news, right?

3. Real non-residential fixed investment increased by a healthy 7.3%, another healthy number.

4. The market value of the nation's total output of goods and services increased 4%, not outstanding, but still reflective of a growing economy.

So, in addition to the decreased government purchasing, what was wrong with our economy in Q4?

5. Purchases of goods and services by U.S. residents only increased 1.4%.

Why, you ask? Because their incomes aren't enough to purchase any more.

Source, and details: https://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

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