June 20, 2012
— Ace And they're still highballing it. From the NYT:
Fed officials said they now expected the economy to expand between 1.9 percent and 2.4 percent this year, down from an April forecast of 2.4 percent to 2.9 percent.The economic forecast, released separately, reflected reduced prospects for 2013 as well. The Fed estimated growth of between 2.2 percent and 2.8 percent, down from 2.7 percent and 3.1 percent in the April forecast.
Why do I say they're highballing it? Well, for one thing, they've consistently highballed it. Q1's initial reading came in at 2.2%, later revised down to 1.9%.
Now, the first quarter's GDP annualized growth rate was 1.9%, and Q2 seems to be falling even further.
So, Q3 and Q4 would have to come in at something like 3% to pull the average for the year up to "1.9% to 2.4%."
Does it seem likely? Is anyone feeling a sudden surge coming in the economy?
I don't. Europe is about to tank, for one thing. And our own "recovery" was weak, at best, even before any pulldown from the European toilet-swirl.
Posted by: Ace at
01:10 PM
| Comments (81)
Post contains 199 words, total size 1 kb.
Posted by: Joe at June 20, 2012 01:12 PM (RdCfV)
Posted by: Xerxes at June 20, 2012 01:13 PM (KXm42)
Posted by: Empire of Jeff at June 20, 2012 01:14 PM (6B5IX)
Posted by: Larry Kudlow at June 20, 2012 01:15 PM (MtwBb)
Posted by: Xerxes at June 20, 2012 01:15 PM (KXm42)
the Swiss are selling their 2-year govt bonds at .33 % NEGATIVE interest ( to those in Eurozone countries who are certain that Swiss Francs will rise much more than that versus the Euro.
and in France, they're beginning a swan dive off the high board, with no water in the Pool
Posted by: Thistle P ( Pippi Bongstocking ) at June 20, 2012 01:16 PM (Dll6b)
Posted by: Larry Kudlow at June 20, 2012 01:16 PM (MtwBb)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 20, 2012 01:16 PM (8y9MW)
Posted by: Vic at June 20, 2012 01:17 PM (YdQQY)
"Oh well, I guess it's time for me to go to work again," said Lady Liberty. "Mitt, help me get these chains off and I'll see what I can do for you."
"Tired? Oh, no, my child. It's what I do."
Posted by: BackwardsBoy at June 20, 2012 01:17 PM (d0Tfm)
I was told there were green shoots.
There were...until Rush Limbaugh fed them to a herd of Republican cattle.
Posted by: Little CheChe at June 20, 2012 01:18 PM (3SvjA)
The last I heard government spending was now 49% of the GDP.
Posted by: Vic at June 20, 2012 01:21 PM (YdQQY)
Posted by: toby928© at June 20, 2012 01:21 PM (QupBk)
Posted by: Dems Everywhere at June 20, 2012 01:21 PM (TOk1P)
Posted by: The Beretta Manufacturing Company at June 20, 2012 01:22 PM (jucos)
Posted by: tasker at June 20, 2012 01:22 PM (r2PLg)
Posted by: maddogg at June 20, 2012 01:23 PM (OlN4e)
----
Well..... your the last toothpick holding up Italy's economy then......
Posted by: Spring Field Armory.... Made in the USA at June 20, 2012 01:24 PM (C8hzL)
Posted by: The Guy Who Blames Everything on Racism at June 20, 2012 01:24 PM (7+pP9)
Posted by: Dems Everywhere at June 20, 2012 01:24 PM (TOk1P)
Posted by: phoenixgirl, team dagny at June 20, 2012 01:25 PM (Ho2rs)
Posted by: joeindc44 says choom on fuckers at June 20, 2012 01:25 PM (QxSug)
thats like calling the pork chops a distraction in the buffet. I say gimme somma alladatshit.
I like your turn of a phrase.
You gonna finish that lasagna?
Posted by: fluffy at June 20, 2012 01:26 PM (3SvjA)
Posted by: MFM at June 20, 2012 01:26 PM (jfWE9)
Posted by: Niedermeyer's Dead Horse at June 20, 2012 01:26 PM (piMMO)
Maybe, just maybe, between the shitty economy and now teh SCOAMF looking like the reincarnation of Tricky Dicky, enough people will become turned off of the Dims that we can start winning elections for several years.
Even more if Mitt gets the economy going again half as well as Ronaldus Magnus did. And if the Tea Party becomes more influential, then we could have a lasting, robust recovery, roll this behemoth of a government back a good bit, and put the Dims in the political doghouse for a long time.
Posted by: BackwardsBoy at June 20, 2012 01:27 PM (d0Tfm)
new thread.
This is the hill I die on. Carry on I'll stay here. Say goodbye to ancient Persia for me.
Remember.
Posted by: Xerxes at June 20, 2012 01:27 PM (KXm42)
Posted by: dantesed at June 20, 2012 01:28 PM (gVDjD)
The economy is trying to do something in your mouth, but it just ain't happening.
Posted by: HeatherRadish™ at June 20, 2012 01:28 PM (ZKzrr)
20 There is zero growth, none. In fact I would wager it is still negative all the way from 2008.
Posted by: Vic at June 20, 2012 05:17 PM (YdQQY)
Like how badly the Clintonistas really trashed the White House upon their departure, it's a story that will never be told.
Posted by: The Guy Who Says True Stuff at June 20, 2012 01:30 PM (7+pP9)
****
No taxation without representation! How long before they get to vote?
Posted by: Niedermeyer's Dead Horse at June 20, 2012 01:35 PM (piMMO)
Posted by: Barack H. Obama at June 20, 2012 01:47 PM (smvTK)
Posted by: Ted Kennedy at June 20, 2012 01:58 PM (IoNBC)
Posted by: The Economy at June 20, 2012 05:14 PM
Too low - terrain! Too low - terrain!
Posted by: Bitching Betty at June 20, 2012 02:09 PM (KOHFD)
Posted by: Steevy at June 20, 2012 03:47 PM (Ts9tU)
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Posted by: Thistle P ( Pippi Bongstocking ) at June 20, 2012 01:11 PM (Dll6b)