Federal Reserves GDP flat lines with 0% growth forecast

Following this morning's construction spending release from the U.S. Census Bureau, the nowcast for real residential investment growth increased from -1.1 percent to 1.8 percent. This was more than offset by declines in the nowcasts for real nonresidential structures investment growth (-19.3 percent to -22.5 percent) and real state and local government spending growth (0.3 percent to -0.8 percent).


The Federal Reserve Bank of Atlanta’s economic meter is registered a flat line as it clocked a 0.0 percent for Gross Domestic Product growth for the first quarter of 2014.

http://nypost.com/2015/04/02/federal-reserves-gdp-flat-lines-with-0-growth-forecast/

 

Hey, but unemployment is an impressively low 5.5% - making more people than ever doing less productive crap than ever! Huzzah, Obama!

 

If being on these boards has taught me anything it's that no matter what happens...it all Bush's fault.

 

Yeah, right

The jobs created in March (126K) were smaller than needed or expected.
They were also almost all low-paying.

The Obama economy is in a downward spiral now that QE spending has ended.
The emperor has no clothes.

 

And the only job gains in march went to 55 and older. The under 55 groups saw job losses.

And the number of Americans not in the labor force exceeded 93 million for the first time.

And the number of black Americans not in the labor force hit a record high of 12,202,000.

And the number of women not in the labor force hit a record high of 56,131,000.

And the January and February job numbers were revised down dramatically.

And I'm still waiting for those 500,000 jobs a month that Joe Biden promised.

And I'm still waiting for that recovery summer.

 

QE was about saving banks, not creating jobs. We are overdue for a recession so this indicates it may be upon us. Recessions are not bad things by the way--they are a natural part of economic cycles. We are experiencing a dead decade. Unless the GOP got on board with doing what people have been trying to get the government to do all along---mad crazy spending, then the economy would pick up. Since they only spend on tax cuts for the rich and war, nothing is likely to change.

Contracting GDP is not a bad thing. It is far worse to try to force growth than it is for GDP to contract.

 

It creates poverty for sure?

 

wait a minute


we heard how great the job adds were and now they say they "over-reported" by 70k ?

why does this admin even bother to report numbers? It's all BS

 

Let's all bash Obama for getting the numbers where Romney optimistically predicted he could get them by 2016 when trying to convince all of us to vote for him. I don't think he was suggesting we would be disappointed if he did. yet, as Ted Cruz said, the world is on fire. The world was on fire when we were losing 700,000 plus jobs a month when Obama took office. Please, carry on with your delusions about how things have actually gotten much worse now. lol

 

I thought everyone voted for Obama under the general impression that he was going to make things so much better...on all fronts!

Talley up yet another post where the goal line is moved so Obama can look like a success no matter how
unaccomplished his administration really is.
Barry and his affirmative action presidency...just being there should be good enough for us all.

 

His affirmative action Presidency? Really?

 

Well let's see? A U.S. senator who entered mid-term and immediately began the process to run for the presidency; meaning that effectively he spent only about 140 days as an active full time U.S. senator before dedicating himself full time to his presidential effort, meaning that he pretty much had ZERO meaningful national level experience and absolutely ZERO history of leadership or management . . . meaning that he was the Left's Affirmative Action president. So . . . yes.

 

Yes. A president who gets where he is, in large part, because he's black (certainly not for any outstanding accomplishments in his brief stints in Illinois or the Senate) and whose decidedly lackluster presidency has been drastically dumbed down to the point where he only has to do as well as George Bush to be considered a success by supporters.
His economic record, which is dismally unexceptional, is a good example.

 

So Obama and his administration wonks deliberately lied to the nation . . . again? Sweet! Please sir may I have another one? Whap! -- oh, that hurts soooooooo good! Hey leftists . . . is THIS the "Hope and Change!" you voted for?

 

And while a junior senator, Obama voted present nearly 90% of the time.

 

What a splendid affirmative action resume.

 

I think that was while he was a state Senator. As a U.S. Senator he was just a nobody.

 

I'm stumped. The US and everyone are required by NATO or the UN or someone like that to demonstrate a good human rights standing. Part of that is demonstrated by what percentage of the population receives Gov. subsidy checks. At the last accounting, the US reported that 33% of our population is Gov. funded. That means that they don't have a job.
How do we start there, and end up with only 5.5% unemployed? But; er... uh*** cough cough....

 

Well Obama and his administration have been creatively reporting or in other words selectively bending the truth -- um -- lying. The Mainstream Media has known from day one that it was fanciful in its essence but since they twice helped campaign Barack Obama into office they were sort of stuck with having to go along with his and his administration's lies.

I guess it's a real b-itch when deep-sixing the meaningful aspects of one's professional ethics while being charged with the responsibility to tell the U.S. public the truth. The irony being that the Right's news outlets told the truth about the Obama administration's fiddling with those numbers from day one. So what can the MSM possibly say to justify endorsing all of Obama's lies about the economy, "Sorry about that but we were just totally stupid in comparison to the average rightwinger?"

 

Lets suppose mccain elected with conservative congress
What would have been the policy and out come difference?

 

No ObamaCare and no increased taxes on people making $450,000 or more.

Without those two, the economy would have been humming along at a strong pace by now.

 

It's because the republicans took the senate...

Isn't that the argument of republicans, the massive economic crash during Bushes term was because democrats took over congress in 2007

 

Ok
You point to obamacare and high income earner taxes to make a big difference

Obamacare did not really start until 2014. Last year. So it is hard to see how that would have impactec events from 2009-13

And probably the best recent economy was the late 90s which had higher tax rates along with a booming economy. So the linkage between lower tax rates and a good economy is not proved

 

If this "recovery" mirrored the Reagan recovery our economy would be $2 Trillion larger.

Instead, our national debt is bigger than our entire economy. Thanks a lot, Obama.

 

Now, now . . . don't thank Barack Obama. Thank instead all those fanatical Obama supporters who failed to vet their Peter Principle Political Messiah before rectally inserting him into the Oval Office. They deserve ALL the credit.