Oops!

From The New York Times:

U.S. Economy’s Growth Was Slower in Fourth Quarter
By Nelson D Schwartz, February 28, 2014

The economy grew at a slower pace in the fourth quarter of 2013 than first thought, weighed down by disappointing retail sales, inventory adjustments and a less robust trade balance.

The Commerce Department said Friday it now estimates the economy grew by 2.4 percent in October, November and December, down from an initial estimate of 3.2 percent released on Jan. 30.

Economists had been expecting the government to revise the estimated rate of growth downward to 2.5 percent.

At 2.4 percent, the revised figure represents a substantial slowing from the pace of growth in the third quarter, 4.1 percent.

More at the link.

I had seen a few gloating messages on Facebook, telling us how President Obama and his wise policies had the US in a strong growth pattern. Oops!

The article continues to tell us that “most experts” believe that the economy will continue to be slow, expanding at an annualized 2% rate for the first quarter of 2014. Your Editor would be surprised to see it that high, because the weather has caused significant economic problems for the entire month of February. Of course, your Editor isn’t an expert, is he?

4 Comments

  1. Which “wise policies” would those be? The stagnation called Obamacare? The failure to approve the Keystone Pipeline? Passing new regulations stifling small and medium business across the fruited plain? Not permitting drilling for oil? Raising the minimum wage to reduce employment? Increasing the rolls of the unemployed, underemployed, food stamp and Medicare recipients? The elimination of from 5 to 7 million jobs? Increasing our debt by a trillion a year? The destruction of the coal industry and the resulting increase in our price of electricity? Or is it the policy of he and Moochelle taking separate multi-million dollar vacations, throwing huge state dinners and parties and golfing his ass off?

    It’s probably presiding over the US having its credit downgraded, dropping from the top ten “Freest Nations” and down to 46th in “freest press”. His policy of sicking the IRS on his political foes is just so darn cute, reminds me of my favorite banana republic. Or perhaps his CONSTANT, DOCUMENTED lies….” If you like your doctor….”

    He has so many “wise policies” I don’t know where to begin.

  2. With unemployment at 13% + whatever lies they’re covering, there are no jobs, jobs are fleeing, and BO is in dreamland saying everything is OK. Just stare at the shiny coin on a string and keep repeating “Everything is OK”. Then look down, because that is Up, or look up, but really down. And where’s Alice?

  3. “Deteriorata” – National Lampoon

    You are a fluke of the universe. You have no right to be here.
    Deteriorata. Deteriorata.

    Go placidly amid the noise and waste,
    And remember what comfort there may be in owning a piece thereof.
    Avoid quiet and passive persons, unless you are in need of sleep.
    Rotate your tires.
    Speak glowingly of those greater than yourself,
    And heed well their advice, even though they be turkeys.
    Know what to kiss, and when.
    Consider that two wrongs never make a right, but that three do.
    Wherever possible, put people on hold.
    Be comforted that in the face of all aridity and disillusionment,
    and despite the changing fortunes of time,
    There is always a big future in computer maintenance.

    Remember The Pueblo.
    Strive at all times to bend, fold, spindle, and mutilate.
    Know yourself. If you need help, call the FBI.
    Exercise caution in your daily affairs,
    Especially with those persons closest to you –
    That lemon on your left, for instance.
    Be assured that a walk through the ocean of most souls
    Would scarcely get your feet wet.
    Fall not in love therefore. It will stick to your face.
    Gracefully surrender the things of youth: birds, clean air, tuna, Taiwan.
    And let not the sands of time get in your lunch.
    Hire people with hooks.
    For a good time, call 606-4311. Ask for Ken.
    Take heart in the bedeepening gloom
    That your dog is finally getting enough cheese.
    And reflect that whatever fortune may be your lot,
    It could only be worse in Milwaukee.

    You are a fluke of the universe.
    You have no right to be here.
    And whether you can hear it or not,
    The universe is laughing behind your back.

    Therefore, make peace with your god,
    Whatever you perceive him to be – hairy thunderer, or cosmic muffin.
    With all its hopes, dreams, promises, and urban renewal,
    The world continues to deteriorate.
    Give up!

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