Tag Archives: GDP

Q1 GDP Down 2.9%: Admin says – meh

Today we learned that the Gross Domestic Product of the United States decreased by 2.9% in the first three months of 2014 – a number greatly different than dismal .1% increase the administration reported initially. How could this be? According to the Huffington Post Obamacare had just saved the economy from contraction.. or something. As… Read More »

GDP Growth Increasing 3% In July – Not Because Of Obama Policy Change

What is this thing called Gross Domestic Product (GDP)? It is everything produced by all the people and all the companies in the US and in the world. Key upon the word “produced” in the preceding sentence. Until now, the word “produced” referred to the total market value of all final goods and services produced… Read More »

GDP up due to federal spending

The Commerce Department published its preliminary estimate of third quarter GDP showing an increase to 2.0% growth vs. the second quarter final number of 1.3%. Tearing into the numbers, government spending and a drop in imports seem to be the largest reason for the favorable change to GDP, while commercial investment, exports and private inventory… Read More »

GDP drops, manufacturing takes nosedive

The Department of Commerce released its National Income and Product Accounts report this morning which showed the economy declining much faster than analysts had expected. Despite steady government spending, the second quarter Gross Domestic Product (GDP) came in much lower than Q1 and strongly down from analysts expectations. The first quarter GDP came in at… Read More »

WashPost Front-Pager on Collapsing Net Worth Missing One Word: ‘Obama’

A new economic report from the Federal Reserve doesn’t offer much hope. On the front page of The Washington Post,  Ylan Q. Mui underlined “the Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in… Read More »

Throwing Good Money After Bad

The Labor Department reported that the U.S. economy added 69,000 jobs last month, the lowest number since May of last year. Concurrently, the unemployment rate increased for the first time in eleven months. The “official” jobless rate rose to 8.2%. Additionally, it reported that in the past two months 49,000 fewer jobs were created than… Read More »