GDP Final = 1%

Forget the whole under-reported inflation discussion for a moment. Check out this chart of GDP components:

Gdp_may_final

Gee, that’s an awful lot of negative activity for an expansion.

Thanks, Jake

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Discussions found on the web:
  1. michael schumacher commented on Jun 26

    after, of course, yet another revision UP.

    The race to the bottom continues, albeit slowly.

    Ciao
    MS

  2. Vermont Trader commented on Jun 26

    Old Data… completely irrevelevant now…

    It’s a beautiful day here in VT. I’m done, going to cash and heading for the lake.

    Stocks are just trading up and down with crude.

    I hate trading commodities and if the stock market is just going to be an extension of crude, I’m not playing.

  3. HCF commented on Jun 26

    1%…

    It’s craaaaptastic!

  4. michael schumacher commented on Jun 26

    Before you go VT have a gander at this:

    filed on June 23rd by LEH

    40-6B [html][text] 1 KB [Paper]Application for exemption from all provisions of The Investment Company Act of 1940 by an Employee’s Investment Company
    Acc-no: 9999999997-08-029304 (40 Act)

    THink they are at the brink?? I do.

    Ciao
    MS

  5. Neal commented on Jun 26

    The administration has ruled, “there will not be a second recession on our watch”, and voila!, no recession!

    Just go out shopping, willya.., pleeeaaase??

  6. Joe Klein’s conscience commented on Jun 26

    Neal:
    You are right. While it would be impossible for them to say GDP growth is 3 or 4%, they can massage the numbers enough to show that things are above water(if just barely). Bush has to give McCain a fighting chance, otherwise McCain and the Republicans would really be toast come November.

  7. Peter commented on Jun 26

    So GDP/capita has contracted…

  8. DL commented on Jun 26

    Leave it to the spinmeisters to argue that there’s no recession in sight.

  9. fallon commented on Jun 26

    Is this inflation adjusted?

  10. Francois commented on Jun 26

    “Bush has to give McCain a fighting chance, otherwise McCain and the Republicans would really be toast come November.”

    One must looks at the polling data from reliable sources. fivethirtyeight.com is an awesome site for that. It’s pretty geeky but has been right during the primaries when other missed the mark.

    According to their data, McCain has no chance of gaining the WH in November. That, despite all the free passes the MSM is giving him and persist in giving him now.

    Obama has learn the lesson from Kerry and won’t be swiftboated for lack of resources and will to fight. That has to enrage the big bosses of the media conglomerates who have clear preferences for November.

    Sux to be them!

  11. JJ commented on Jun 26

    Gov’t spending represents a large % increase. Are these categories equal-weighted? Adjusted for inflation? I think Gov’t spending traditionally accounted for 18-19% of GDP. What is it now? 90%? We know what the other 10% is ….. all inflation.

    If you take out Gov’t spending amounts perhaps GDP would be -10%. The Gov’t can spend its way out of anything!

    And I wonder how “real” their numbers really are? (I think that is a question).

  12. Jim D commented on Jun 26

    “But other than that Mrs Lincoln, how was the play?”

    Yeah, we’ll just forget the fact that it’s based on an obvious lie, and discuss how it stinks on ice even with the lie taken at face value…

  13. BobC commented on Jun 26

    The disturbing part about this picture is that the only part that is going up (government “output”) is perhaps the least efficient and hardest to change.

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