News Flash from Business Insider:
“Real gross domestic product — the output of goods and services produced by labor and property located in the United States — decreased at an annual rate of 0.1 percent in the fourth quarter of 2012 (that is, from the third quarter to the fourth quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.
The Bureau emphasized that the fourth-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see the box on page 4 and the “Comparisons of Revisions to GDP” on page 5). The “second” estimate for the fourth quarter, based on more complete data, will be released on February 28, 2013.
The decrease in real GDP in the fourth quarter primarily reflected negative contributions from private inventory investment, federal government spending, and exports that were partly offset by positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased.
I believe when 53% of the voting public is so woefully stupid and can’t identify how grossly inept Barack Obama and his entire cabinet have been, when you’ve got a media that is so willingly corrupted and in bed with progressive politics because they are both immoral and immune, when one in six adult Americans is employed by a bloated government and I’ll bet half of them serve absolutely no purpose, then you’ve got a problem that can’t simply be solved by policy. Throw in Europe and China lying through their teeth about expectations and reality, and this house built on sand will sink when the storm hits.
People will have to learn the hard way by their own life experiences because these rubes are unteachable. I believe the rising stock market is a sucker’s bet – 1929 again. We’ve been operating under artificially low interest rates for years. The Fed will keep pumping money compounding the problem. Currency will become a huge issue and truthfully already is. Every fundamental points toward a hard landing. Physics eventually wins out, gang.
Protect your assets and get ready to grin and bear it. Because the excuses for Obama will never run their course until Obama can no longer buy a vote. That time is coming.
