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Here Is The Reason For The "Surge" In Q3 GDP
Back in June, when we were looking at the final Q1 GDP print, we discovered something very surprising: after the BEA had first reported that absent for Obamacare, Q1 GDP would have been negative in its first Q1 GDP report, subsequent GDP prints imploded as a result of what is now believed to be the polar vortex. But the real surprise was that the Obamacare boost was, in the final print, revised massively lower to actually reduce GDP!
This is how the unprecedented trimming of Obamacare's contribution to GDP looked like back then.
Of course, even back then we knew what this means: payback is coming, and all the BEA is looking for is the right quarter in which to insert the "GDP boost". This is what we said verbatim:
Don't worry thought: this is actually great news! Because the brilliant propaganda minds at the Dept of Commerce figured out something banks also realized with the stub "kitchen sink" quarter in November 2008. Namely, since Q1 is a total loss in GDP terms, let's just remove Obamacare spending as a contributor to Q1 GDP and just shove it in Q2.
Stated otherwise, some $40 billion in PCE that was supposed to boost Q1 GDP will now be added to Q2-Q4.
And now, we all await as the US department of truth says, with a straight face, that in Q2 the US GDP "grew" by over 5% (no really: you'll see).
Well, we were wrong: it wasn't Q2. It was Q3, albeit precisely in the Q2-Q4 interval we expected.
Fast forward to today when as every pundit is happy to report, the final estimate of Q3 GDP indeed rose by 5% (no really, just as we predicted), with a surge in personal consumption being the main driver of US growth in the June-September quarter. As noted before, between the second revision of the Q3 GDP number and its final print, Personal Consumption increased from 2.2% to 3.2% Q/Q, and ended up contributing 2.21% of the final 4.96% GDP amount, up from 1.51%.
So what did Americans supposedly spend so much more on compared to the previous revision released one month ago? Was it cars? Furnishings? Housing and Utilities? Recreational Goods and RVs? Or maybe nondurable goods and financial services?
Actually no. The answer, just as we predicted precisely 6 months ago is... well, just see for yourselves.
In short, two-thirds of the "boost" to final Q3 personal consumption came from, drumroll, the same Obamacare which initially was supposed to boost Q1 GDP until the "polar vortex" crashed the number so badly, the BEA decided to pull it completely and leave this "growth dry powder" for another quarter. That quarter was Q3.
Source: Q3 GDP report: second revision, Q3 GDP report: final revision
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More make-believe shit from the land of make believe.
The MSM has a very positive take on the growth numbers, the ''alternative" sites see it as all spin and propaganda. IMO the truth lies somewhere between the two and the deeply polarised opinions reflect a growing disparity of opinion - not fact. The fact is we now have some growth in the economy but the debt, deficits and leverage represent enormous potential problems. For now however - we must admit - there is a degree of growth and stability which may very well be short lived, but it is there. I believe the debt based system will eventually collapse but for now at least, they have achieved some kind of sweet spot in the economy. The acid test will be when rates have to rise, not before.
"The acid test will be when rates have to rise, not before."
Bwahahahahahaha. Cracks me up every time I read it.
I think maybe Fiat Eggnogstic is a little early into the holiday cheer.
If you define passing gas as production, then your GDP will increase. Think about that, and then think about the "growth" they are selling us. I'm exaggerating? Maybe, but the metaphor is accurate.
Which reminds me - what ever happened to that EBOLA stuff? Much ado about nothing?
Ot are there 1400 people being monitored for it. The NAZI's would be proud of the current admin's propaganda
5% GDP growth. Lol.
Ahh, so all those taxes ARE good for us after all. Imagine how great the GDP print would be if the effective tax rate went to 100%, (well ok, not for everyone, but lets say for everyone with income under $1,000,000).
A little gravy with your shit sandwich?
More gravy. We need more graaaaavvvyyyyyyyy!
This time we didn't forget the gravy!
http://m.youtube.com/watch?v=aH7bEytedtE
ive given up on GDP as a rational indicator once they "tweaked" it over a year ago to factor-in governement spending. so if "they" want to "get it up" all they have to do is borrow more to spend more (we don't have) and that is NOT growth.
same with the CPI data - "they" have watered that # down so "they" can keep financing the debt thru the federal reserve & hide behind the lie that theres no inflation ANYWHERE. unless you need to eat, drive, get a college education, healthcare, drive on toll roads, stay in hotels, take a taxi, go to a ballgame - THEN you are good-to-go & there is NO INFLATION WHATSOEVER just like steve liesman says on the TV.
If you have no money to spend, there is no inflation.
Massive growth in healthcare spending? With inelastic supply? That means...
This is similar to how they bring back a patient who has suffered cardiac arrest. They have saved up enough healthcare economic juice and are now releasing it thru the economic actors in hopes that those folks will think this is the economy returning to normal routine life. So that they will begin normal economic behaviors again. Thus returning the organism to its bright shiney self. This make work in a limited sense like chest compressions circulating blood to the many cells but won't restart the other organs who remain badly damaged.
THere is no relationship between QE and GDP...
http://www.globaldeflationnews.com/dont-get-ruined-by-these-10-popular-i...
Buzz saw- "straight from the department of making shit up"
I think the department you're looking for is the Department of Shuck and Jive.
We already have the NAACP
How can we replicate this? What other Keynesian mandatory consumption program can we adopt? Universal lawncare? Universal autocare?
Universal Lawncare?
Isn't that the driver behind Obama's immigration policy?
5%...sure, I believe that.
You know, it isn't the fact that they lie, we all know they do. In fact, you kinda expect it, you know? What frosts ME is that they insult my intelligence in the process. THAT I find unforgivable.
They aren't clever enough to keep their lies reasonably realistic. No, they always have to go the extra step, have to 'fluff' the stats even more...They could have said, maybe 1-2 %...a little 'lift', but not off the charts.
But no. They are saying 5%, as if anything going on today would make such a number believable. Believe me, if this country was anywhere NEAR 5% GDP, we'd all KNOW it. We wouldn't have to 'find' the growth. It would be a little hard to hide, you know?
Assholes. Why not just say we are doubling our GDP every six months? Go ALL out.
I believe America was built on an appropriate amount of puffery and fluff. This is only fair in negotiating contracts. However, when someone oversteps the internalized norms of puffery, we have what is called fraud and deceit. Certain groups in the US have played within the national norms, while others, who have largely risen to positions of power in finance, media, and government influence, believe that outright dishonesty, lying, and fraud are qualitatively indistinguishable from puffery - therefore, they hoist it upon the masses. Without anyone holding them in check or boycotting this behavior, what should have been an issue of a few points becomes a deceit reflecting factorial consequences.
If someone in business tried to pull that on you, you would stop doing business with them outright. When someone like this floods the market with this culture, they create more suckers because people feel the need to keep up with the norms that have been created by the nefarious influence in finance, media, and government. When those people realized all they have to do is leverage chutzpah of that level onto a national con, where no one can escape, they found their ultimate scheme. Unless the US removes a certain attitude and culture from its midst, it will live as poor enslaved nothings surviving off the media lies it's fed, the hollywood lies it's fed, and the government propaganda it's fed -- and the Fed it's fed.
The best reaction you can have is to shun these liars. They need you to survive.
Great news! Raise interest rates immediately please. Thanks!
The more they lie about how GDP is growing the faster they should raise interest rates.
So,
In Krugman-land if you arbitraily raised the price of something (in this case through massive regulation) then that is the same as producing more of it... i.e. Gross Domestic PRODUCT?????????
U R a heretic.
Don't you know that a 10% cut in the rate of a proposed increase, is a "decrease" in spending???
Here's the math if you don't believe it:
Spending on mint, tea tree flavored edible condoms: $10.00
Proposed increase of 10%: 1.00 = $11.00
a 10% cut in the rate of increase: .01 = $10.99
The Decrease in spending? $10.99 - 11.00 = erm.....uuh..... wait a second.....
.......
so Q-4 must pure poop since they decided not to use it there?
Begginning to think most Americans see this as complete BS, because we actually live here and see the enormous gap between the data and our daily lives. Foreigners on the other hand are probably the fuel feeding this equity market with their dumb money, because they are illusioned by propaganda, and cannot see the farce that lies beneath the facade...
Much of the "dumb money" is simply government printed fiat. They need to show the market rising, so they print to achieve the desired price. I realize that is stating the obvious, stated millions of times already...
As to your idea that foreigners are feeding this frenzy, I think there is an element of foreign money in here, too, but that money is not necessarily so dumb, I would say, as desperate. As bad as our system is (and it's extremely corrupt and in collapse), the systems some of this money is coming from (I'm looking at you Brazil and Venezuela) are even worse! All the shirts are shitstained at this point, but there are a few spots of clean cloth on the US one (disappearing fast, but there). The markets this money is leaving are unimaginably screwed up. These people see the mess that is the US, and they know it for what it is, and even so, it's better than their other options.
The globe is screwed, as much so or more than the US. We're all going down together on this one.
Flat agnostic,
No down arrow, but growth--net of debt--ended about 45 years ago.
<”..I believe the debt based system will eventually collapse but for now at least, they have achieved some kind of sweet spot in the economy. The acid test will be when rates have to rise, not before…>”
Agree totally, except for that last sentence. Rates never have to rise, and likely never will. They haven’t risen in Japan for two decades. A debt-based economy cannot tolerate rates higher than they are now. One should not be surprised at all to see yields on the ten-year go down to 1.5% then 1%, etc. over the next couple of years. More QE is possible in spite of the “great “ numbers. The lower and middle-class are not participating in any of this euphoria and wealth creation, except through more debt accumulation. They are buying crap, but not from the massive Fed handouts, as the wealthy are, but from MasterCard and auto loans, etc. The Fed bank cannot allow the party to end, so they cannot raise rates. The interest alone on the $18T government debt would sink the whole country at 3-4%, even faster at 5-6%. Borrowing costs for consumers must be kept as low as possible. This is ‘Growth” through debt”. As noted, it works and it is all they have left in the ‘New Normal’.
Hell, let's just add tax receipts from Apr 15th to GDP too....Looks like we use the China GDP calc methods now...
Central bankers reaching new levels of desperation. MUST. MAKE. US. APPEAR. STRONG.
Why? Well the Japanese and Europeans need someone to export too. They are trying to make us feel wealthier so we can buy more foreign made junk. If the Japanese don't have somewhere export to, well, off the cliff they go. We're at that point now, and we're close to the end...So...Central Bankers decided they must try something else! Export to the US!
Of course this will fail as well. And then...Alll hell breaks loose. In the meantime enjoy your slight boost in discretionary income and do yourself a favor by converting it into savings. Over the next year or two, you'll be VERY happy you did.
They must make us appear strong for other reasons
Russia will stomp all over us and Fed's Ivory Tower grand plan will be seen as the disaster it is. The Emperor has not a stitch.
I would expect Putin and NK to join forces soon
Surpised it hasn't happened already
What Perecentage drop in health care spending for insurance, and actual health care (doctor and other cash payments) do you think would occur if 330,000,000 legal immigrants and their descendants, and 30,000,000 illegal immigrants took care of their health by exercising at their target heart rate 3 days a week, eating at least three days a week of healthy foods, and kept calories to about 1800-2000 a day, cut back 50% in sugar, simple carbs, and fat?
What if they only made one change to eat a serving of broccoli or other cruciferous vegetable 5 days a week?
The immediate boost to well-being, and dramatic cut in illnesses of all types, including cancer would likely return health care spending to pre 1950 levels when we had polio and other diseases.
IF the fat people of the nation just collectively decided to cut their weight by 10% per year for 5 years?
I'll take a stab at 75% reduction in health care costs from all sources.
A preventive measure ALL insurance companies should immediately put into every health care policy: A CT scan of the entire body, head to toe should be performed every 20 years, beginning at age 30.
If GDP is growing by 5% then the 10-year T-Note yield should be anywhere from 6% to 7% and not the current 2.2% level. The theory used to assume that if you could lend to the U.S. economy you had to be compensated for GDP growth and inflation.
The US government is not the economy.
Certainly not but if an investor had a choice between the U.S. government (T-note) and the overall economy he would choose the overall economy and the government would have to match that plus inflation.
If this comment was higher up the page you'd have 30 ups by now.
they think they are. remember, without them u didn't build shit.
they WANT negative real rates....destroys savings/purchasing power. the Fed wants to be the only source of capital.
I took my kid for the mandatory annual checkup to get the med certificate required by school. The checkup took less than 10 minutes. The Explanation of Benefits from the Insurance company shows they paid the Provider around $600! I could never have afforded this if I had to pay this out of pocket.
You shouldn't have kids if you can't afford to provide them the basics such as head to toe checkup.
You either need a new career, or condoms, ma'am.
No, you are not entitled to have everyone else pay for your or your child's health care. And I'd look to your other spending if you can't afford $600. There is likely a hole in the boat somewhere that is easily plugged.
It ain't free. Someone is paying for it. Just not you.
A check-up shouldn't cost $600.
You got it -- I shouldn't even have needed to take the kid for this totally unnecessary medical visit except for meeting the school's certification requirement. This is not out of choice -- mandatory spending on an unwanted service. While I didn't have to pay for this visit, it will no doubt ripple thru and appear as a stiff hike in my insurance premium.
It's OK -- maybe the other guy is in the medical profession.
I have a hard time believing that 10 minute checkup costs $600. I'd need to see the bill from the Dr. to see what was done, and if it were my kid's bill I'd be on the horn to him in a nanosecond for a complete explanation.
And if that $600 had to come out of her pocket, she just might do that, but the fact that insurance paid for it, she just accepts it.
In my last accident, I got an insurance statement that reimbursed the Trauma doctor $17.00 of a $225.00 charge.
That makes no sense to me other than as shenanigans going on between hospitals, insurance companies, and doctors, and co-pays, and deductibles and black holes.
Daughter just had an ultrasound for gallbladder. she asked for the cash price. She was told 195.00. The would have billed insurance 450.00. they just write the difference off on taxes.
ma'am???
how do u know it wasn't a guy who took his children for the check up????
That's 600 in added GDP
Thanks for doing your part
Now if only a few thousand people would get pancreatic cancer by year's end, Q4 could turn out to be pretty sweet
Isn't obamacare basically just a subsidy of the Insurance sector?
The great thing about dementia is that its creates an aggregate demand.
Welcome to the world of big data, bigger data mining by the Oligarchs (to buy you and own you lock, stock and barrel) and then to dispose off you into the dementia barrel of emptyness that never stops giving in "yes we care!"
Lobotomia is now a thing of the past. We don't need to operate you, we just feed you "sweet nothings" on your i-phone all day long. Guaranteed not to fail after you daily dose of microwaves in Internet "o did u see that!" streaming oven. And you will have minimum wage until your dying day --so that we TPTB can rifle it from u subsequently -- paid by the Foxconn slaves wherever they be as lenders of last resort!
Ain't it a beautiful networked world! Debt is Asset and we are all protected by print to infinity!
Ain't it a beautiful networked world! Debt is Asset and we are all protected by print to infinity!
Yeah,until the masses wake up and all that "trust" evaporates over night. History has a way of repeating itself.......
"Yeah,until the masses wake up and all that "trust" evaporates over night."
6 years in... still waiting for this to happen... I used to expect it 'any moment'... not so much anymore.
Societal inertia is an incredibly strong barrier to overcome.
As Greenspan said a few years ago, market "exuberance" will eventually come crashing down. It does not matter how much money you make on paper. The trick is learning when to cash out. At this point, greed is taking over and all those over"exuberant" market followers, are going to feel the pain, once the markets come crashing down.
Protect yourself and your family on the down side. Stock up on bullets, bandaids and, beans!
"We waterboarded some numbers..."
So,
In Krugman-land if you arbitraily raised the price of something (in this case through massive regulation) then that is the same as producing more of it... i.e. Gross Domestic PRODUCT?????????
Universal auto and home insurance and the DOW would be at 36k. Come on Washington. ..try harder.
5% must be the increase in healthcare PRICES caused by Obamacare. The quality of care decreased by the same amount, most likely.
And that, boys & girls, is how they had the money to prep all those 36-37 Ebola units in hospitals...
Keep your eye on the shells and then choose where money went...
I have the best explanation of all. Its the K novy.
These types of situations really show what a bunch of fucking retards we have at the Fed. Old Yeller knew what the GDP print was going to be and still chose to go down the path of dovishness.
If there's so much confidence in the economy then why didn't she just come out and say we're going to normalize rates next year? She knows the numbers are gamed, that's why.
How is it you have the U.S. economy growing at these rates when the rest of the world is in the shitter? The U.S. is China's number one consumer, and look at China. The U.S. is also a heavy European consumer and look at Europe's economy. {in the shitter}
So, where's all the spending and consumption in the U.S. coming from? Is there a fucking giant alien mothership under Yellowstone that shops at Walmart and eats at Chipotle 24/7?
Even those chainstore sales numbers from earlier, crack my ass. Everyone has been talking about the slower sales numbers this year for Christmas, and you get these prints that beat by (2) sigmas? I can't wait to see what they stuff into the Q-4 GDP print. This shitshow is reaching the apex of a long 6 year turn, and everything is priced in now bitchez. The $usd at these levels is distructive to the emerging markets, and any rate increases will only make it worse.
Yen Cross .. they know we know the system has been totally gamed.
They can't tell the general population that though ha ha ... they get hanged. So on it goes one small lies begets a bigger lie and so on until the lie becomes so big nobody will believe.
Faith that they can fix, resolve this etc. is being trashed on a daily basis.
+1. Agree with everything except 6 years - this crap has been going on for decades. It's just getting more blatant now. Lies, damn lies, and statistics . . .
http://www.maxkeiser.com/2013/06/first-time-since-1948-propaganda-is-now...
Be aware.
I find it so amusing all this +1%,+2%.+3%,+4%,+5% ... keeps growing bigger all the time and so many people looking through "the looking glass" into the real world just see an utter load of bollocks. With this game people start to beleive it less and less until nobody believes and the only thing on peoples minds will be revolt.
History repeats itself because those who could do things differently at the highest level do exactly the same inept corrupt manipulation to cover their theft once again.
3 CHEERS to obamacare BITCHEZZZZZ!
Nope ZH is WRONG
Paul Davidson of the great paper known as US TODAY says this.
The U.S. economy grew at its fastest pace since 2003 in the third quarter on stronger consumer and business spending.
If you want to see how ignorant and stupid the population of America are just read the comments on this story on the usa website.
I Googled "GDP" in their 'News' category, and perused the 1st 6 hits: CNBC, Fox, WSJ, Bloomberg, Slate, and the Guardian, a good representative sampling. Versus this ZH article, here's the only pertinent quote, from the WSJ:
The biggest upward revision came in household spending on services, which climbed at a 2.5% pace last quarter versus an earlier estimate of 1.2% growth. Health-care outlays alone contributed 0.52 percentage point to the quarter’s GDP growth.
A few other articles mentioned in passing the contribution of health care spending to GDP, but, in all, the 6 articles were upbeat, with few if any caveats.
Zerohedge versus the world. Answer this for yourself: Should one bet on the sheer massiveness of the world, or ZH? Before you answer, perhaps you should read this story
If you are into fables don't forget Aesop's "The Grasshopper and the Ant(s)." This fable is about hard work and preparing for the future. I think this better represents ZH readers mentality than the boy who cried wolf. If you don't see the dangers does that mean they are not there or is that just your preception. What are your motivations to not see the dangers- if your career is hinged to the financial system in anyway than you must desire the current system to continue. ZH readers, with the exception of preppers with a product to sell or gold dealers with metals to sell are not motivated to make money. They wish to persevere along with their families. I wouldn't call them the "Little Boy who cried Wolf." They are more like ants determined to make it through the winter.
So let me see if I got this right, the Fed prints money, Treasury sells bonds to the Fed, Treasury sends that money (as much as escapes the banksters) to the insurance companies, because they've issued free policies to millions of Americans, only those policies have $5,000 deductibles so the insurance companies just keep the money and pay out nothing, and this constitutes a boost to the economy!
And they said the age of great inventions is over!
Isn't Fascism GREAT?!
"So let me see if I got this right," Nope it's pure patent infringement.
The fkn dog chasing it's tail has been patented.
Zero Hedge rocks. Wow. There is none out there equal to Zero Hedge.
Wonder how long US Government is going to tolerate the Tyler Durdens.
I would think BEA will be looking for a suitable way to die in shame. like maybe a knife for Hara Kiri. But I guess there is no honor here in the USA or Japan fot that matter anymore.
Just gives me more time to get debt in order and get ready. A continued collapse in oil is the signal much like 2007.
U know housing top was Oct 2005, right?
So, bankers had all 2006 & 2007 to plan for collapse in 2008.
alls we needs ta do now be add d'wefare n d'ebt n d'medicare paymunts into d'GDP...
OT a bit: who likes a top in $DXY? seems to have an adequate weaker new high, and everyone KNOWS the $ is awesome b/c the US has such a great "economy".
...not a forever top, but a nice multi-week top; maybe 38% retrace then we can buy gold fro $750
So I'm confused.
Is this my savings of $2500?
I'm not following the math. If I save $2500, how did I spend more on healthcare in same period. Math is hard.
It all depends on the velocity of bullshit.
So the product in the GDP actually includes insurance contracts for medical care? LOL
Ever get the feeling you've been Grubered?
http://dailycaller.com/2014/12/22/obamacare-architect-gruber-going-to-th...
the only growth in America is subsidized, if something was growing here it would be monetized and offshored or inshored depending upon portability and profitability (its just business).
The only solution is to apply the same strategy to govt, eliminate public employee unions as well as the minimum wage for public employees and drive their wages into the dirt.
I'd love to see a $1200/ a year congressional and judicial pay
Smitty, you aint talkin' out your ass. You got it.
I look forward to seeing some of your other posts.
Geez... you can't make this shit up.... Oh wait a minute, you can!!! I guess they were right when they said this time is different!!
Consumer debt should also be added to the list.
Would you have known this if Zero Hedge didn't exist?
check green yes, red no.
What about the hookers and blow?
I believe we have stumbled upon the "black swan" that will collapse the economy.
Don't forget the Ebola boost to the economy.
Hazmat suits and sidewalk pressure washers aint cheap.
Look....we all know by now that ANY fucking number released by/touched by/puked out by the gubbermint IS A FUCKING LIE....
so....FUCK THIS SHIT!
OK, I'll play along if it makes them feel better.
And they pull another Obama out of the hat.....when is the truth going to set this free?
Tyler, your head is becoming way too big.
(for your critics)
Ohhhhh, the thing is rigged, like a casino? So that's why my fertility doctor made me shoot for the Come Line.
I figured as much. My rates increased $200 per month in September. What a joke. What a scam. What a country.
No disrespect intended. Be healthy, place your monthly insurance payments in a health saving account, and pay cash for your services from the a la carte menu.
Carry catastrophic insurance and accident policies for nickels on the dollar to cover the car crash gap. If you live on a farm, like me, carry a major accident policy plus a key man life policy. You will save thousands.
After a year of not being sick, you can turn your HSA into a chiropractic care fund, again on a discount.
Rinse, repeat.
I would never try to upstage a Farmer or even correct the farmer with anything I believe... Farming is done by people that live and share in a community. The women and the Men know how to do whatever needs doing.
But I have met people that traveled to a South American Country for Dentistry, Medical, and even to discuss surgery... I had some work done $300 for a Crown complete. I even got complete Catscan or MRI that I took back to the states... looks like the best, most complete X-ray you ever saw for $150. This last beats all my US Medical Service for my whole life and is documentation that I badly need.
The point is I have found Excellent Hospital Care and Treatment outside of USA.
So tired of this BEA/Ministry of Truth bullshit. The party announcers on NPR were speaking in mid-coitus rapture this morning on this "news".
FUCKING
HANG
ALL
THESE
TRAITORS
National Puppet Radio
Good source of daily fiber. Let them hang themselves. When the truth's revealed only Scott Simon will remain, pantsless and sibilant, shuddering under the weight of a Shure-brand headset.
National-socialist Popaganda Radio (NPR)
I thought the fake bump in GDP was because of my free Obamaphone bitchez!
Damn that car wreck I was involved while on active duty 25 years ago ...has paid off in SPADES 50.00 $ copay...period...8$ prescription co pay.....and San Diego VA free from most of those dastardly VA employees that I would gladly shoot in the street ..if given fed/state pass lol....FUCK obama care
Yeah sounds lucky. There isn't enough money anymore for property tax and all. Maybe I can find a way to do Operation Twist on the Property Value...
The MSM types are a bunch of little Joe Geobbels spewing the Hitler-Banker-White House line.
The common idiot on the street is never gonna wake up - until it's far too late.....
I think you're overestimating the common idiot.
Hello
I purused the MSM (Fox, marketwatch, bbc, cnbc, wapo) and none even mentioned this accounting trick. All were so, so happy that growth is back! They are like cheerleaders, given scriptes to recite and RA RA RA.
They just print what that are told, without any attempt to examine. Mouthpieces, not news sources.
Also, less spending on imports adds to GNP. Domestic consumer spending, added to Less import spending means higher GNP. ?? So if all americans stopped buying imports, we would all suddenly be rich?
Add NPR to the List... They were Reporting on the Iraqi War when suddenly were read the Riot Act by the Bush Admin when they placed a Bush Appointee over the Funding. Mysteriously never Criticized the War on Terror or the Iraqi War again.
Same with GDP or Inflation or Employment Numbers I guess. Today they reported with "Blind Faith", like little Bitches.
When will people wake up or not? Answer is some are Protesting, Activism is up on G20, OWS, Federal Reserve... race Riots,... and Outliers are shooting police.
Meanwhile naked zombies on bathsalts tried to cannibalize passersby.
ZH nails it again... coincidence?
Been telling people for years to read ZH. It's like wearing worm hole goggles and seeing 6-12 mo. into the future.
heck just remove the national defense portion and the print is nil...
lemon squeezy
Growth in government is not growth, but more like a liability.
Yes.
And
- Obama Care = Corporate Welfare/Government Social Program Hybrid (but that is redundant)
- MEDICARE/MEDICAID = Corporate Welfare/Government Social Program Hybrid
And Congress members are Fascist without knowing it since they grew up in Rockefeller-Rothschild Psy-Op
Like Zaibatsu, Keretsu, Chaebols...
https://en.wikipedia.org/wiki/Keiretsu#Types_of_keiretsu
nothing at all like any of those. this is pure jewish/italian mob, right down to hitmen(cia) for the rats.
China does it with construction projects. We do it with healthcare.
Just what I thought. USA is doing badly but lying through its teeth about how well off they are.
Just what I thought. USA is doing badly but lying through its teeth about how well off they are.
Just what I thought. USA is doing badly but lying through its teeth about how well off they are.
my wife was talking to her mother last night. she had just liquidated a little chunk of her investments to subsidize a trip to Europe. Upon getting back home, she was happily thrilled to see her investments had replaced the money used for that trip. In other words, the market's tear to the upside replenished the funds withdrawn for the trip. She then told my wife how thrilling it was that the economy is doing so well.
I just smiled when my wife told me what her mother had said. My wife knew I was literally dying inside! I cannot even express the anger and frustration. It is impossible to put into words. In 09 I lost everything I had worked for my entire life and it feels like I stepped off of the bus and was not able to get back on while everyone else continued, as if nothing had ever happened. In fact, my mother in law was talking on the phone with me and my wife in February of 09, and she actually broke down and cried because almost everything she had invested in had wiped her out. Is this some kind of a joke? I just do not understand how long an economy can drive without any real structure. This economy is driven by printed money and confidence. The confidence factor seems to be holding up the economy all by itself. Obviously that is the case since there is really nothing to back up the US dollar. I have lost all confidence and I often wonder if we are just a few people out of a huge group who believe the sky is falling when nothing actually really is going to happen.
I just opened up the charts which I have not done in a very long time because I refuse to trade in a manipulated environment. I just cannot believe the currencies! I cannot believe the ES.I honestly cannot believe anything I see on these charts.
is it at all possible that all of the numbers can be manipulated in one direction, and also manipulated in the other direction? The articles written always seem to point to the exact opposite direction then those released by the Fed. We all know that the Fed manipulates numbers to make things look better, but is it not true if numbers can be manipulated in one direction, can't they be manipulated in the other direction?I'm not saying that these numbers are all manipulated here, but I do wonder how on earth things can be so good while things are actually so bad! I am also very tired of things not making any sense whatsoever while everybody walks around whistling Dixie.
Extreme skepticism can be hazardous to one's mental health.
True.
But those who were extremely skeptical from 2005-2007 and acted accordingly (selling real estate, hedging financial assets, etc) preserved their assets and got the last laugh.
I, like most ZH'ers, am flirting with clinical depression watching this nonsense. But I've taken big moves to protect myself. I'm not short the market (which can remain in crazy-land for a long time).
But people should really be buying precious metals, land in another country (and making that land self-sustaining), buying some puts (insurance) to protect downside on financial assets that they can't divest, etc.
I'm with you. Lost the Wife, then the job, then the house 2003-2012 (job and house post 2008 crash).
Watching the nightly news tonight and the "Economy better than expected, DOW 18,000!" headlines made me mad as hell.
Let me introduce here the idea of Occam's Razor.
There is a welt on my face I notice last night while sleeping, so the simplest answer is something bit my face while I was sleeping...
Give every banker a nail gun for Christmas and watch the DOW and GDP soar.
I see dead asset bubbles, as you feel the wind blowing them into answers.
healthcare is a bad investment for a country who's financial survival depends upon everyone dying before reaching 62 years old.
I had a "surge" the other day but then I flushed it.
Am not surprised. I know people that still live in that ca-ca hole and they ALL say that sales are horrid and that things are worse if not the same. So not surprised that the GDP numbers are fake as well.
Am not surprised. I know people that still live in that ca-ca hole and they ALL say that sales are horrid and that things are worse if not the same. So not surprised that the GDP numbers are fake as well.
tyler punks his readers with selective reporting once again...real health care outlays were just a tenth of the 3rd quarter GDP increase and less than half of the upward revision….they actually increased at a real rate of 4.6%, so health care outlays were actually a small drag on the overall quarterly GDP increase…