US growth actually shrinks in 4th Quarter

[prepguide]

So much for robust growth and such. Our economy actually shrank last quarter. Please take a look at the story.

http://www.cnbc.com/id/100419252

[bacpacker]

We sure haven't been hearing this reported. December is typically one of the tops months with Christmas sales numbers included. Just a sign of things to come?

[4suchatimeasthis]

Rush was going off about this today, I think he was equally upset that the MSM is ignoring it, (too busy obsessing over Lindsey-loony-Lohan) as with the actual findings. Because really, who ACTUALLY believed all that crap about the economy improving last fall?

Apparently Amazon is getting slaughtered too.

[bacpacker]

I've been thinking back some today after reading this post. Both after the Black Friday and the Christmas holiday season, reports were all over the place, both on local and national news, about how successful the sales had been and how improved the economy was. That doesn't appear to be the case. Amazon apparently is one that has taken a huge hit. It also looks like the .gov has also reduced defense spending on our forces while sending supplies and arms all over the mid east (Egypt and Syria to name two). I will be very interested in what the unemployment numbers look like when they come out. With the money being pumped into the economy by the fed, I would think the economic numbers would be much better. If the 4th quarter was down, what can we expect after the third quarter?

[prepguide]

BP I was thinking about the unemployment numbers, there is always a huge short term hiring period the last quarter so retailers can have sufficient staffing in place then most are let go immediately after Christmas. So if in fact the sales numbers were as good as it was reported then shouldn't have 4th Q overall numbers been up? Things are not adding up and I see a downturn in the economy continuing and expanding.

[Willie51]

I actually heard on the radio today (I didn't catch who said it) that someone on the left said the contraction in the economy was due to Super Storm Sandy. What a joke!!! Historically, storms and natural disasters have helped the economy due to the insurance companies and the governments having to spend millions on repairs, etc which trickles all the way through the economic system.