This page has been archived and commenting is disabled.

Shrinkage: US Economy Declined By -0.1% In Q4

Tyler Durden's picture


A stunner out of the BEA which just reported a Q4 GDP of -0.1% that was leaps and bounds below the 1.1% estimate, and a plunge from Q3's 3.1%. The factors: Private Inventories, Exports and Government Expenditures all of which contracted, by -1.27%, -0.81%, and -1.33%. The silver lining was in Personal Consumption Expenditures which added 1.52% to the negative print, most of it however driven by a surge in spending ahead of the fiscal cliff. Ironically, this was the biggest government-driven detraction from growth since Q1 2011, when GDP led to a -1.49% cut in the GDP, same in Q4 when government spending on defense fell the most since 1972. The solution is simple: print moar drones. Enter Mali. And since everything is now AMZN-ing, we can't wait for the spin that the GDP's margins were actually better than expected, leading to a 200 point surge in the DJIA.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 01/30/2013 - 09:42 | 3198305 Debtonation
Debtonation's picture

Get to work Mr. Chairman.

Wed, 01/30/2013 - 09:43 | 3198314 brewing
brewing's picture

long toner...

Wed, 01/30/2013 - 09:46 | 3198333 TotalCarp
TotalCarp's picture

Dear CNBS crew.. I shit in your cereal..

Wed, 01/30/2013 - 09:51 | 3198362 AlaricBalth
AlaricBalth's picture

Get to work, Mr. President

Wed, 01/30/2013 - 09:54 | 3198383 Harlequin001
Harlequin001's picture


Wed, 01/30/2013 - 09:58 | 3198402 MillionDollarBonus_
MillionDollarBonus_'s picture



This is just short term noise. The stock market has shrugged off this insignificant news and will soon be making its way to new all time highs. Professional fund managers recognize that despite this minor set-back, the long term fundamentals for the US economy are overwhelmingly positive. Here are just a few of the endless positive indicators for our economy:

  1. A strong housing recovery
  2. A rising stock market
  3. A plunging VIX
  4. Record low interest rates
  5. Record low inflation
  6. Record number of college-educated Americans

When will masochistic doomer libertarians on this site recognize that they are simply wrong about economic collapse and the impending apocalypse? When will goldbugs, silverbugs and bitcoinbugs realize that their dreams of becoming kings of the universe will never materialize? 



Wed, 01/30/2013 - 09:59 | 3198410 TerminalDebt
TerminalDebt's picture

Whatever drugs you're on, I want some.

Wed, 01/30/2013 - 10:00 | 3198418 aka Gil
aka Gil's picture

Mopium, it's everywhere.

Wed, 01/30/2013 - 10:03 | 3198428 Freddie
Freddie's picture

Dope & Change


Wed, 01/30/2013 - 10:19 | 3198507 AlaricBalth
AlaricBalth's picture

I think MDB is overdosing on the Herbalife products he is trying to sell.
You don't rely on your own supply.

Wed, 01/30/2013 - 10:28 | 3198536 trav777
trav777's picture

how was anyone expecting economic growth when aggregate energy supply is contracting?

Wed, 01/30/2013 - 10:41 | 3198610 EscapeKey
EscapeKey's picture

Printers becoming more energy efficient?

Wed, 01/30/2013 - 11:50 | 3198946 Zap Powerz
Zap Powerz's picture

Trav, my top explanations are:

Stupidity, Cognitive dissonance, willful ignorance, sociopathy.  Mostly sociopathy.

Wed, 01/30/2013 - 11:58 | 3198984 odatruf
odatruf's picture

How Trav?  Well while Corzine walks among us, anything could happen. I believe in Forward!


Wed, 01/30/2013 - 15:14 | 3199693 hapless
hapless's picture

Shut. Up.

Wed, 01/30/2013 - 10:20 | 3198509 SamAdams
SamAdams's picture

So you are saying the market is underbought.... I read you, I read you.  Expect current overbought oscillator to pop right off the chart today.  To irrational and beyond!

Wed, 01/30/2013 - 11:09 | 3198765 whatsinaname
whatsinaname's picture

Maybe Obium ?

Wed, 01/30/2013 - 13:43 | 3199352 Glass Seagull
Glass Seagull's picture



Whatever it is, probably purchased with bitcoins.

Wed, 01/30/2013 - 10:00 | 3198414 Xibalba
Xibalba's picture

When will you acknowledge the fact that money printing as polital policy has failed?  The Fed has failed in all of it's mandates, yet you somehow think this is a positive thing and short term noise?    

Wed, 01/30/2013 - 10:55 | 3198692 CH1
CH1's picture

MDB is 100% sarcasm. He doesn't 'acknowledge' things.

Wed, 01/30/2013 - 12:12 | 3199043 Overfed
Overfed's picture

Since MDB pretty much speaks in ironic terms, I can never decide whether to give him green or red arrows. Green 'cause it's hilarious, or red, since he says the opposite of what he means. Hmm...

Wed, 01/30/2013 - 12:31 | 3199112 Carl Spackler
Carl Spackler's picture

Agreed. It is all sarcsm.

U.S. socialists and liberals have never called out libertarians on anything.  It's not a group on their radar screen.

And, such a soundbyte has zero impact on the sheeple (other than to confuse them), so you know his message has to be sarcastic.

Wed, 01/30/2013 - 10:01 | 3198415 Orly
Orly's picture

Bitcoin Bugs.

BCBs.  Loves it!


Wed, 01/30/2013 - 10:03 | 3198435 malikai
malikai's picture

It's that time again:

MillionDollarBonus_ Tue, 05/18/2012 - 09:33 -

I predicted this from the start. FB is the AAPL, and any price below $100 is CHEAP. You may laugh at me now, but I'll be laughing when it's trading at $200 and you doomers are chasing the market.


MillionDollarBonus_ Tue, 05/18/2012 - 11:12 -

Everyone is excited about this historic IPO except for lame uptight doomer libertarians. FB is a fresh new IPO - perfect for young investors just getting started and looking to build a respectable but forward looking portfolio. This is a great day for hip, upmarket investors, but a sad day for envious and bitter and sulking rednecks.


MillionDollarBonus_ Tue, 05/22/2012 - 08:45 -

Bought another 300 shares yesterday - taking advantage of this discount. It's all about dollar-cost averaging. My average entry is now at $38 so I'm in the same boat as most of the top buy-side bidders at the original offering.


MillionDollarBonus_ Tue, 05/29/2012 - 10:42 -

$30 should be solid psychological support. Bought another 500 shares this morning - The value is off the charts here. This cannot last much longer. This is the social networking revolution - older people just don't get it.


MillionDollarBonus_ Thu, 08/16/2012 - 10:20 -

For long term value investors, this is just short-term noise. This is a great dip-buying opportunity – and honestly, who cares whether you pay $19 or $40 when the long term price target is in the $100s???


MillionDollarBonus_ Fri, 08/17/2012 - 16:32 -

You idiots talk about the sell off as if this is just normal market activity ... this is a JOKE. How the HELL can the SEC just stand by and watch while these manipulative short sellers hammer the stock into the ground???

Wed, 01/30/2013 - 10:07 | 3198457 TerminalDebt
TerminalDebt's picture

Are you stalking him?

Wed, 01/30/2013 - 10:13 | 3198479 Orly
Orly's picture

Apparently, "fascetious" and "parody" are not in his lexicon.  I think I can help...

He's funnin' with ya, Bubba.


Wed, 01/30/2013 - 10:19 | 3198506 malikai
malikai's picture

I should stalk MDB better because I'm sure he's had newer, better content since Aug last year.

I should be ashamed of myself, actually.

Wed, 01/30/2013 - 10:47 | 3198645 Spastica Rex
Spastica Rex's picture

MDB is a bore with no new material. Zero entertainment value. As bad as Tom Cruise.

Wed, 01/30/2013 - 11:05 | 3198738 Keegan11
Keegan11's picture

Hahahaha!!!!! Impeach Obama! Empower Maliki!!! Good one Maliki - stalker though you may be :)

Wed, 01/30/2013 - 10:17 | 3198498 CoolBeans
CoolBeans's picture

MDB strikes again :)

Great sarc, as always.

Wed, 01/30/2013 - 10:22 | 3198515 EmmittFitzhume
EmmittFitzhume's picture

MDB has been called in for damage control.

Wed, 01/30/2013 - 10:31 | 3198549 stant
stant's picture

deer antler spray, hookers and blow then kick back with some 40s. watch the drone races. rally on bitchez

Wed, 01/30/2013 - 12:25 | 3199086 daxtonbrown
daxtonbrown's picture

6. Record number of college-educated Americans


Bwahaha. I know my small business is eagerly seeking a women's studies major to take out the trash.

Wed, 01/30/2013 - 13:13 | 3199245 TuesdayBen
TuesdayBen's picture

That is a whiny lawsuit in the making. Don't do it.

Wed, 01/30/2013 - 21:05 | 3200915 stant
stant's picture

hire her if shes got big tits 28 hrs a week ,then bang the hell out of her , then let her take the gov plan, but its sloppy secounds the bank got there first with the student loans, but hell you paid for it! or will

Wed, 01/30/2013 - 13:32 | 3199302 ZackAttack3
ZackAttack3's picture
  1. A strong housing recovery................bouncing along the bottom with foreclosures being held out of the pipeline
  2. A rising stock market......................due to money printing and free money to banks
  3. A plunging VIX...............................due to money printing and free money to banks to prop up the market
  4. Record low interest money to banks.............screws over fixed income and savers (regular people)
  5. Record low inflation........................Maybe on Planet Mars
  6. Record number of college-educated large amount of debt unable to pay back


Wed, 01/30/2013 - 13:32 | 3199303 ZackAttack3
ZackAttack3's picture
  1. A strong housing recovery................bouncing along the bottom with foreclosures being held out of the pipeline
  2. A rising stock market......................due to money printing and free money to banks
  3. A plunging VIX...............................due to money printing and free money to banks to prop up the market
  4. Record low interest money to banks.............screws over fixed income and savers (regular people)
  5. Record low inflation........................Maybe on Planet Mars
  6. Record number of college-educated large amount of debt unable to pay back


Wed, 01/30/2013 - 13:33 | 3199305 ZackAttack3
ZackAttack3's picture
  1. A strong housing recovery................bouncing along the bottom with foreclosures being held out of the pipeline
  2. A rising stock market......................due to money printing and free money to banks
  3. A plunging VIX...............................due to money printing and free money to banks to prop up the market
  4. Record low interest money to banks.............screws over fixed income and savers (regular people)
  5. Record low inflation........................Maybe on Planet Mars
  6. Record number of college-educated large amount of debt unable to pay back


Wed, 01/30/2013 - 13:43 | 3199351 shutterman
shutterman's picture

I kept waiting for the punchline to tie together this brilliant sarcasm, He kind of sucks at the bringing it all together part.

Wed, 01/30/2013 - 09:58 | 3198404 eclectic syncretist
eclectic syncretist's picture

Damn straight!  This must be worth at least 500 Dow points.

Wed, 01/30/2013 - 09:56 | 3198393 TotalCarp
TotalCarp's picture

The sad thing is i am still pretty sure that "they" will squeeze futures into the green even on this. But for this one moment i feel sheer joy that a dog feels whilst watching a neighbours cat get run over by a truck.

Wed, 01/30/2013 - 09:47 | 3198345 Go Tribe
Go Tribe's picture

That's perfect!

Wed, 01/30/2013 - 10:02 | 3198425 augustusgloop
augustusgloop's picture

the costanza economy

Wed, 01/30/2013 - 10:31 | 3198551 WillyGroper
WillyGroper's picture

"It ain't watcha do, it's the way that you do it"

And that's what gets results.

Wed, 01/30/2013 - 09:46 | 3198337 TideFighter
TideFighter's picture

The result of taking away our guns and adding 11,000,000 targets. 

Wed, 01/30/2013 - 10:06 | 3198453 midtowng
midtowng's picture

Normally I can figure out why this is bullish, but I must admit of being at a loss this time.

Wed, 01/30/2013 - 10:08 | 3198461 TerminalDebt
TerminalDebt's picture

This means more QE, thats why its bullish

Wed, 01/30/2013 - 10:30 | 3198545 mademesmile
mademesmile's picture



"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."

Wed, 01/30/2013 - 11:07 | 3198750 Shizzmoney
Shizzmoney's picture


Wed, 01/30/2013 - 11:13 | 3198782 ich1baN
ich1baN's picture

A -.01% drop in GDP..... doesn't that work out to almost -.05% on an annualized basis?

Wed, 01/30/2013 - 11:13 | 3198783 Master_Blaster
Master_Blaster's picture

What are the odds the surge in consumer spending was directed toward guns & ammo?

Wed, 01/30/2013 - 11:56 | 3198973 Bad Attitude
Bad Attitude's picture

MB: Very likely. Dear Leader has been the firearms salesman of the year. 2013 should be a record year for firearms and ammunition sales if the manufactures can satisfy demand.

Wed, 01/30/2013 - 11:13 | 3198784 Master_Blaster
Master_Blaster's picture

What are the odds the surge in consumer spending was directed toward guns & ammo?

Wed, 01/30/2013 - 09:42 | 3198306 Neethgie
Neethgie's picture

This print just entirely discredited everyone at BI, which is hilairious.

And gold loves it.

Wed, 01/30/2013 - 09:43 | 3198318 Zero_Sum
Zero_Sum's picture

Gold DOES seem to dig it. Just my luck. I'm planning to make a purchase on Friday, and I was hoping for a dip.

Wed, 01/30/2013 - 09:46 | 3198326 Neethgie
Neethgie's picture

you might get one if bernanke doesn't please.

but come on, hes like a high class hooker knows exactly what to do and say.

Wed, 01/30/2013 - 09:46 | 3198336 malikai
malikai's picture

Your dip was over on Monday.

No surprises here.


Wed, 01/30/2013 - 09:53 | 3198374 pods
pods's picture

My next gold related purchase:


Wed, 01/30/2013 - 09:54 | 3198381 EscapeKey
EscapeKey's picture

BI? I stopped reading that stupid site back when I realized that Weaselthal is nothing but an internet troll.

Not forgetting about all those stupid tabloid headlines "THE NY FED JUST MADE A STARTLING ADMISSION WHICH CHANGES EVERYTHING", which, when clicked on, turns out to be a datamined 1-liner, which essentially boils down to nothing in the grand scheme of things.

Wed, 01/30/2013 - 09:42 | 3198309 Zero_Sum
Zero_Sum's picture

..and the futures barely shrugged. Irrational exuberance, anyone?


Wed, 01/30/2013 - 10:04 | 3198438 machineh
machineh's picture

Of course, that rosy Q3 print of +3.1% wasn't tape-painted for the election or anything.

Barry O. runs his ship strickly [sic] by the books. /sarc

Wed, 01/30/2013 - 09:42 | 3198310 Capitalist
Capitalist's picture

iPhone 6 can't come soon enough.

Wed, 01/30/2013 - 09:45 | 3198324 EscapeKey
EscapeKey's picture

The Samsung Galaxy 4 rumoured to be out in a few months. (and with pretty damn cool specs, incl the 5" Sharp 1080 native display, and 8-core CPU).

Wed, 01/30/2013 - 10:10 | 3198466 machineh
machineh's picture

For AAPL victims ... errr, investors, better sell on the rumor, buy on the news.

Sammy's on a wild-ass tear, ever since Apple foolishly busted his chops with those stupid design patent suits last August.

That was AAPL's exact peak, when Tim Crook stooped to litigating instead of innovating. LOSERS!


Wed, 01/30/2013 - 10:31 | 3198547 trav777
trav777's picture

battery life 10 minutes?

Wed, 01/30/2013 - 10:33 | 3198566 EscapeKey
EscapeKey's picture

not sure about the display (although the 5.5" note 2 isn't too bad battery wise), but the CPU is one of thos big.LITTLE (who came up with that? that's totally rad!) ARM cortex CPU's, which essentially is 2 quadcores glued together, one of which is powerful, and one which is extremely energy efficient...

Wed, 01/30/2013 - 11:17 | 3198803 malikai
malikai's picture

They (ARM) want to put variants of those chips in server blades for grid/virtualized computing. If the numbers are what they say and they can get decent performance/power ratios out of them, ARM is set to kick some serious ass in the years ahead..

Wed, 01/30/2013 - 09:44 | 3198315 firstdivision
firstdivision's picture

QE4Eva&Eva to be announced at 2:15pm

Wed, 01/30/2013 - 09:43 | 3198317 EscapeKey
EscapeKey's picture

Clearly, the problem is that we're not printing enough!

£1.02tn run-rate is for amateurs.

Wed, 01/30/2013 - 09:48 | 3198350 Obchelli
Obchelli's picture

One would wonder why xerox went out of business...

Oh I forgot they do not even print any more bernank just adds zerose via his iPhone - so efficient and effective and with no cost

Wed, 01/30/2013 - 09:43 | 3198319 Being Free
Being Free's picture


Wed, 01/30/2013 - 09:46 | 3198321 Chuck Walla
Chuck Walla's picture

I LOVE CNBC. They always have such confidence in their ability to lie. No amount of bad news can even stagger them for a moment. Why, there's always something else that shows the number is wrong, unless it comes in good. Then its prima facie that all is well.

This turd needs some intense polishing as LIESman spins it into gold.



Wed, 01/30/2013 - 09:47 | 3198351 EscapeKey
EscapeKey's picture

You watch CNBC?

In my neck of the woods, that is a deeply embarrassing admission.

Wed, 01/30/2013 - 10:12 | 3198475 CoolBeans
CoolBeans's picture

It is good to ocassionally keep an eye on what the enemy is spewing.

Wed, 01/30/2013 - 10:25 | 3198527 Freddie
Freddie's picture

Eff TV and Eff Hollywood.   They support Ob-Mao and the NWO scum.   Endless sh*t from CNBC and the rest.  I yanked the plug in Tv years ago.  Tv is for tards.

Wed, 01/30/2013 - 10:15 | 3198482 holdbuysell
holdbuysell's picture

They'd make Baghdad Bob proud.

Wed, 01/30/2013 - 09:44 | 3198323 walidsassia
walidsassia's picture

 Oh so this how the Bernanke wealth effect work ,  Personal Consumption Expenditures printed 1.52%. 

Smart Ben

Wed, 01/30/2013 - 09:47 | 3198339 Go Tribe
Go Tribe's picture

They were all buying gold and silver!

Wed, 01/30/2013 - 09:50 | 3198365 GolfHatesMe
GolfHatesMe's picture

with 125% LTV home equiity checks

Wed, 01/30/2013 - 09:54 | 3198385 walidsassia
walidsassia's picture

Yes Pump those 401K and go get credit and Spend , Smart with no real economic activity who need it anyway . we can always pump 

Wed, 01/30/2013 - 09:52 | 3198373 youngman
youngman's picture

No because of the election the numbers were puffed the people thought everything was AOK....there might be some cliff buying too...but wait till this quarter..when the sheeple have their new payroll taxes...that number will drop...big

Wed, 01/30/2013 - 09:46 | 3198327 Obchelli
Obchelli's picture

Honebadger doesn't care... Bullish...

Idiots like Liesman and Zandy silenced Santelli when he said we are spending 1 trillion for crying out loud...

In unmanipulated market with level it's on now we would be limit down - now we for sure will end in green just look at amzn

Wed, 01/30/2013 - 10:31 | 3198552 disabledvet
disabledvet's picture

we're spending far more than a trillion a year actually...but we are BORROWING that much...and for that "we're getting a recession." these numbers were well known before the election and "now the truth comes out." the whole Administration is jumping ship...there are very few left now save for Eric Holder ironically enough. The National Security team will be up and running full bore soon...but right now the whole enterprise seems listless and out of touch. the way FORWARD i think has already been set (Syria, soon Egypt which is about to be "Syria'ed" actually.) War machines brook no dissent...especially from those who create them. This one makes Vietnam look like something that really was solveable. But again "nothing that Western Civilization hasn't dealt with before." We go Forward together...or not at all.

Wed, 01/30/2013 - 09:45 | 3198328 JSD
JSD's picture

Ahhh...the classic GDP head and shoulders pattern.

Wed, 01/30/2013 - 09:45 | 3198329 lizzy36
lizzy36's picture

Oddly all the BULL SHIT and "rising above" with respect to the fiscal cliff, did NOTHING to consumber and business spending. 

An economist is an expert who will know tomorrow why the things he predicated yesterday didn't happen today.


Wed, 01/30/2013 - 10:32 | 3198556 disabledvet
disabledvet's picture

i hear the same is true about boyfriends...

Wed, 01/30/2013 - 09:45 | 3198334 Zgangsta
Zgangsta's picture

Eh.  It'll be revised up to +0.5% when the market needs a pick me up.

Wed, 01/30/2013 - 09:46 | 3198335 asteroids
asteroids's picture

And with millions coming off the dole in the last few months, they will max out their credit cards and then it gets interesting. It's going to be a long nast hot summer.

Wed, 01/30/2013 - 09:54 | 3198377 youngman
youngman's picture

They are not off the dole...they just go to a new dole....see student loans....Disability..whatever

Wed, 01/30/2013 - 09:46 | 3198338 Confundido
Confundido's picture


Wed, 01/30/2013 - 09:46 | 3198340 Cursive
Cursive's picture

This is probably bullish and shares of AMZN will be bid over $300 today because Jeff Macke thinks the future is bright and bears are too emotional.

Wed, 01/30/2013 - 09:47 | 3198343 Cdad
Cdad's picture

And in surveys, no one...and I mean NO ONE can see the recession coming.  And this GDP print only cost us...what....$5 trillion?  

You go Ben Bernanke...the wasteland you have created for us needs moar work.

Wed, 01/30/2013 - 09:46 | 3198344 fonzannoon
fonzannoon's picture

and yet they still yap about the fed's exit and normalizing rates through an orderly exit.  it's almost like this programming is artificial.

Wed, 01/30/2013 - 09:49 | 3198352 ekm
ekm's picture

It's the opposite.

Money printing clogged the economy.


Wed, 01/30/2013 - 09:47 | 3198347 Vagabond
Vagabond's picture


"Declined By -0.1%"


You mean grew by -.1% or declined by .1%.

Wed, 01/30/2013 - 09:58 | 3198401 EscapeKey
EscapeKey's picture

Nothing a revised inflation (aka "GDP deflator") figure can't fix.

Wed, 01/30/2013 - 19:24 | 3200694 Notarocketscientist
Notarocketscientist's picture

1+1 = 3

Wed, 01/30/2013 - 09:48 | 3198348 Ness.
Ness.'s picture

Nice stick save today Mr. Kevin Henry.  That was a close one.


Now move along - nothing to see here.


Wed, 01/30/2013 - 09:50 | 3198353 Kaiser Sousa
Kaiser Sousa's picture

cue waterfall attack on the phony paper price of Gold and Silver in 

5, 4, 3, 2........

Wed, 01/30/2013 - 09:50 | 3198357 buzzsaw99
buzzsaw99's picture

fake q4 gdp was lower? oh noes!

Wed, 01/30/2013 - 09:49 | 3198358 hankwil74
hankwil74's picture

The U.S. economy shrinks and stocks unchanged.  A good GDP number is bearish for stocks and a bad GDP number is bullish... this is the America in which we live.

Wed, 01/30/2013 - 09:50 | 3198359 tuttisaluti
tuttisaluti's picture

This Print must be manipulated......

Wed, 01/30/2013 - 09:49 | 3198360 Sudden Debt
Sudden Debt's picture






Wed, 01/30/2013 - 09:56 | 3198398 Turin Turambar
Turin Turambar's picture

Yeah, evil deflation.  People are out of work.  The government is strangling what's left of the so-called free market.  The Fed and bankers are fleecing people left and right.  For all of our problems, the criminals are focusing on the dire state of things becoming nominally cheaper for people out of work, out of money, and earning a whopping 1% on their life savings!  Must spend MOAR on food and gas.  That'll stimulate the economy and make us all richer.  Doh!

Most days, I handle things pretty well and am grateful for my blessings, but every now and then I have a morning like today where I am just boggled by the idiocy of everything.  God help us. Our self-appointed betters certainly aren't. 

Wed, 01/30/2013 - 10:24 | 3198522 youngman
youngman's picture

On your other days...what are you drinking...I need to buy some to keep calmer...

Wed, 01/30/2013 - 09:50 | 3198361 Smegley Wanxalot
Smegley Wanxalot's picture

Q1's only growth area will be in guns and ammo.  Factor those out and the Q1 shrinkage will be -2%.

Wed, 01/30/2013 - 09:50 | 3198364 buzzsaw99
buzzsaw99's picture

shrinkage bitchez

Wed, 01/30/2013 - 09:51 | 3198367 fonzannoon
fonzannoon's picture

they are still saying growth averaging 2%. they actually can't do math on 4 numbers that collectively add up to 5 and find the average.

Wed, 01/30/2013 - 12:41 | 3199144 BooMushroom
BooMushroom's picture

You forgot the rule that GDP is always rounded up to the next even number when a democrat is in office :)

Wed, 01/30/2013 - 09:51 | 3198368 Sudden Debt
Sudden Debt's picture

somehow.... this wasn't what Obama promised in his speech...




Wed, 01/30/2013 - 09:52 | 3198369 ejmoosa
ejmoosa's picture

Easy to see how the talking heads fool themselves when they report earnings beating estimates every day and they do not even look at the year to year performance.  


This time we have beaten estimates all the way to Less than Zero.

Wed, 01/30/2013 - 09:53 | 3198375 miker
miker's picture

Does anyone believe this number?  If it's mildly negative, you can rest assured it is greater than reported.  The economy is in recession by any standard, has been for a number of months.  I predict we're headed down further.  As Lincoln so aptly proclaimed:  You can't fool all the people all the time.

Wed, 01/30/2013 - 09:54 | 3198376 Yen Cross
Yen Cross's picture

 The fucking markets futures are flat on that news. What do those stupid asshole traders think the Fed. is going to say later? That they are going to double their MBS buybacks! The statement is already priced in. Everyone knows the punch bowl isn't going to be taken away. This shit makes me want to puke!

Wed, 01/30/2013 - 09:56 | 3198396 buzzsaw99
buzzsaw99's picture

Interactive Brokers will lend one million US dollars at just 1.3% for every 200,000 USD in your portfolio margin account.

Wed, 01/30/2013 - 09:54 | 3198378 q99x2
q99x2's picture

Unemployment dropped at the same time. Imagine that.

Wed, 01/30/2013 - 13:01 | 3199206 BooMushroom
BooMushroom's picture

Discourage ALL the workers!!!

Wed, 01/30/2013 - 09:54 | 3198380 dick cheneys ghost
dick cheneys ghost's picture

I wish to help the fake economy by borrowing fake money that i cant pay back.

Wed, 01/30/2013 - 09:54 | 3198384 PaperBear
PaperBear's picture

Is this why gold/silver just took off ?

Wed, 01/30/2013 - 09:55 | 3198386 Jason T
Jason T's picture

productivity only grew 0.2% in 2012 ... you're growth is done for

Wed, 01/30/2013 - 10:37 | 3198596 Village Smithy
Village Smithy's picture

Only 0.2%, and that's in a world where if you have a job you are probably working lots of overtime for nothing, and you've had your benefits cut back.  Oh, and don't worry about laying people off they can still go to the mall because the government just borrows trillions from the unborn to fund those shopping trips.

Wed, 01/30/2013 - 09:56 | 3198391 betterlockaway
betterlockaway's picture

Wait! What! I thought were in a recovery.  DJIA is up.  Housing up. Holy smokes.  Something smells funny in here.  I mean, what next?  Monthly jobless claims and unemployment rates revised downward.  If I was a suspicious person I would think that someone was "moving the ball in the rough".  Weird.  At least we have Al Qeada (sp) and all his bad guys on the run.  Right?

Wed, 01/30/2013 - 10:09 | 3198465 eclectic syncretist
eclectic syncretist's picture

it is a recovery, it's just recovering less rapidly.  It takes a long time to understand the smoke and mirror lingo they use to describe all this stuff, which they do just to keep you confused.  For instance, Open Market Operations are actually closed.  If they were open you could be the middle-man between the treasury and the Fed and skim money like the big banks get to. 

Wed, 01/30/2013 - 19:21 | 3200676 Notarocketscientist
Notarocketscientist's picture

Just like the EU crisis is OVER

Wed, 01/30/2013 - 09:55 | 3198392 DavidJ
DavidJ's picture

Sh*t is getting real now.   Scary!

Wed, 01/30/2013 - 09:56 | 3198394 tok1
tok1's picture

mm wernt the monthly parolls all above 150K for Oct-Dec (ie so economy shrank but payrolls grew kind of strongly) data seems fixed for QE with a posative political twist (ie economy shrank so QE  required but pay rolls are increasing so equities up everythings fine..  Its better than Chinese data.

Wed, 01/30/2013 - 09:58 | 3198403 orangegeek
orangegeek's picture

Ben:  Hey Barry.  We're shrinking.


Barry:  I heard.  Couldn't you lie about that one too?


Ben:  We're lying about it as we speak - we're just telling everyone the average is up.  It's makes no sense and has no mathematical backing, but if you say it over and over again, the truth won't matter.


Barry:  Good job Ben.  Need a few more billion in tax payer dollars today to support the spin and buy up falling shares?


Ben:   That would help Barry - thanks.  Another day, another clusterfuck. 

Wed, 01/30/2013 - 09:59 | 3198407 CheapBastard
CheapBastard's picture

Remove the 'VooDoo factor' and it sank by 6% .

Wed, 01/30/2013 - 10:01 | 3198411 youngman
youngman's picture

The Feds 1.14 trillion just jumped to 1.5 trillion....then to 2 trillion....wait till the bonds start getting dumped....and the trade wars begin....the Euro at 1.35 today....and the Yen....yeah the world is a happy place....those kind of moves cost GDP.....and it comes from the other guy....I do not think the world will let Japan go much further....and the Euro will start to be the next ball in the game...I think now more than ever there HAS to be a GOLD will stabilize the markets......the worlds business will demand it...

Wed, 01/30/2013 - 10:05 | 3198439 azzhatter
azzhatter's picture

I thought Ojackoff was going to double exports.

Wed, 01/30/2013 - 10:57 | 3198699 WillyGroper
WillyGroper's picture

No, we can't find enuf skilled workers for all of these jobs so we're going for immigration reform.

Wed, 01/30/2013 - 10:07 | 3198456 madcows
madcows's picture

The economy was in the pool!

Wed, 01/30/2013 - 10:14 | 3198476 Sudden Debt
Sudden Debt's picture


because... you know.... IT TAKES TIME!!! like 500 years or so...

Wed, 01/30/2013 - 11:29 | 3198847 edifice
edifice's picture

like 500 years or so...

Indeed. Like the mob boss says in Looper: "No, really, I'm from the future. You want to go to China..."

Wed, 01/30/2013 - 12:07 | 3199028 Alpacanio
Alpacanio's picture


Wed, 01/30/2013 - 13:20 | 3199266 TuesdayBen
TuesdayBen's picture

In 4 years it'll take a village.

Wed, 01/30/2013 - 10:18 | 3198496 Shizzmoney
Shizzmoney's picture

It's looking like 2007 all over again:

Dow High, GDP Low - Deja Vu All Over Again

The Dow just hit a new high, but GDP suddenly drops to a new low - no, its not today, its March of 2000, right before we entered the last recession. At that time, the Dow had closed at 11,723 in January, while Q1 GDP growth was 1.0%. By Q3 2000, GDP had turned to a negative .5%, which led into a two year recessionary period in which the U.S. economy didn’t fully recover until Q2 2003, when GDP growth broke out to 3.5%. But, that wasn’t until the Dow lost 40% of its value, tumbling to 7,181 during October of 2002.


Wed, 01/30/2013 - 10:48 | 3198653 Freddie
Freddie's picture

I would give one shiny bar of (thin) gold plated tungsten for 2007 and Bush for this hell.   And no I do not like NWO Bush but anything is better than Barry-MAO Mugabe II

Wed, 01/30/2013 - 11:29 | 3198846 DC3
DC3's picture

Awesome call!

Wed, 01/30/2013 - 10:19 | 3198504 Navymugsy
Navymugsy's picture

New program for FED programmers:





Wed, 01/30/2013 - 10:23 | 3198516 Non Passaran
Non Passaran's picture

After an in-depth source code audit, I have to say the code looks resilient, secure and reliable.

Wed, 01/30/2013 - 10:21 | 3198510 Frastric
Frastric's picture



Wed, 01/30/2013 - 10:24 | 3198517 Cassandra Syndrome
Cassandra Syndrome's picture

Anyone know what the "deflator" is in this debacle of a report?

Wed, 01/30/2013 - 13:22 | 3199270 Chaos_Theory
Chaos_Theory's picture

Hillary and Moochelle naked.

Wed, 01/30/2013 - 10:28 | 3198540 GoBadgers
GoBadgers's picture

Even if GDP had been positive for Q4, what difference does it make?

Wed, 01/30/2013 - 10:33 | 3198559 thismarketisrigged
thismarketisrigged's picture

shrinking economy- dont worry, thats good enough for the dow to hit 14000. its so comical, slow growth, bad fed data, unemployment close to 8, bad jobs numbers, and yet this market just goes up. fuck u ben, obama, and all of wall st,i hope u lose all ur money.

Wed, 01/30/2013 - 10:34 | 3198564 ES-Sniper
ES-Sniper's picture

I cannot believe how CNBC is spinning this miss.

Melissa Lee pinned it on the drought?!!

Jim Cramer on Sandy?!!!

I am waiting for the truth from Rick...then I have to turn it off.







Wed, 01/30/2013 - 10:40 | 3198602 Village Smithy
Village Smithy's picture

Don't do that to yourself, don't even turn it on. Give it a week and you won't believe how much better your outlook will be. You may even feel like having sex again.

Wed, 01/30/2013 - 19:20 | 3200672 Notarocketscientist
Notarocketscientist's picture

Why would you ever turn on CNBS?

If you want proper finance news (and without the screaming and yelling), go to Bloomberg

Wed, 01/30/2013 - 10:36 | 3198582 John Law Lives
John Law Lives's picture

Here is my submission for the most nauseating spin job of the day so far:


"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."




Wed, 01/30/2013 - 10:43 | 3198631 thismarketisrigged
thismarketisrigged's picture

what the fuck is wrong with this fucking market. growth slows to slowest level since the recession and this fucking market is green, this coming after a major run up in stocks, all the more reason to sell of.


i really am getting fed up.

Do NOT follow this link or you will be banned from the site!