"To announce that there must be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." -- Theodore Roosevelt

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Thursday, May 29, 2014

US Economy Shrinks, GDP Falls 1%

"Do not worry. My mystical hoe and book of quotes from Rev. Wright will put the economy back on track. And anyone who doubts me is racist!"

I'm sure it's because of global warming, or the cold winter, or racism, or Bush, or white privilege, or guns, or fracking... But whatever the reason is, the economy sure didn't shrink because of ObamaCare, or Obama's regulations on employers, or the spending of [insert Carl Sagan's voice] billions and billions billions of dollars on criminally ineffective and scandal-ridden government programs. No sir.

From Bloomberg:

The economy in the U.S. contracted for the first time in three years from January through March as companies added to inventories at a slower pace and curtailed investment. 
Gross domestic product fell at a 1 percent annualized rate in the first quarter, a bigger decline than projected, after a previously reported 0.1 percent gain, the Commerce Department said today in Washington. The last time the economy shrank was in the same three months of 2011. The median forecast of economists surveyed by Bloomberg called for a 0.5 percent drop.  
A pickup in receipts at retailers, stronger manufacturing and faster job growth indicate the first-quarter setback will prove temporary as pent-up demand is unleashed [pent-up demand by who exactly? The unemployed, the record numbers on disability, or the record numbers on food stamps? Reminds me of the "pent-up demand for housing" and that didn't work out to well, did it?]. Federal Reserve policy makers said at their April meeting that the economy has strengthened after adverse weather took its toll.

Yup. I called it. It was the cold weather. Never has America had to endure such intemperate weather, so of course the GDP declined. It has nothing to do with Obama's regulatory bludgeoning of American employers and his war against the American middle-class. Nothing.

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