Recession within a Recession, America's Collapse, Obama's Lies Revealed
May 31, 2015 16:18:01 #
On Friday, the federal government announced that the U.S. economy contracted at a 0.7 percent annual rate during the first quarter of 2015. This unexpected shrinking of the economy is being primarily blamed on "harsh" weather during the first three months of this year and on the strengthening of the U.S. dollar. Most economists are confident that U.S. GDP will rebound back into positive territory when the numbers for the second quarter come out, but if that does not happen we will officially meet the government's criteria for being in another "recession". To make sure that the numbers for Q2 will look "acceptable", the Bureau of Economic Analysis is about to change the way that it calculates GDP again. They are just going to keep "seasonally adjusting" the numbers until they get what they want. At this point, the government numbers are so full of "assumptions" and "estimates" that they don't really bear much resemblance to reality anyway. In fact, John Williams of shadowstats.com has calculated that if the government was actually using honest numbers that they would show that we have continually been in a recession since 2005. That is why I am referring to this as a "recession within a recession". Most people can look around and see that economic conditions for most Americans are not good, and now they are about to get even worse.
For quite a while I have been warning that another economic downturn was coming. Well, now we have official confirmation from the Obama administration that it is happening. The following is an excerpt from the statement that the Bureau of Economic Analysis released on Friday...
Real gross domestic product - the value of the production of goods and services in the United States, adjusted for price changes - decreased at an annual rate of 0.7 percent in the first quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2 percent.
The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, real GDP increased 0.2 percent.
With the second estimate for the first quarter, imports increased more and private inventory investment increased less than previously estimated (for more information, see "Revisions" on page 3).
The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, nonresidential fixed investment, and state and local government spending that were partly offset by positive contributions from personal consumption expenditures (PCE), private inventory investment, and residential fixed investment.
And actually, Q1 GDP would have been far worse if not for a very large inventory buildup. Without that inventory buildup, Q1 GDP would have been in the neighborhood of negative three percent according to Zero Hedge. Despite the happy face that most analysts are putting on these numbers, the t***h is that they reveal some deeply troubling trends.
One of the things that is driving this current downturn is the fact that our trade balance continues to get even worse. In other words, the gap between how much we buy from the rest of the world and how much we sell to the rest of the world is growing.
During the first quarter, imports surged by 5.6 percent. That means that we are buying more from the rest of the planet than we did before.
Unfortunately, during the first quarter of this year exports dropped by a staggering 7.6 percent. That means that the amount of stuff that we are selling to the rest of the planet is falling precipitously.
When our trade deficit expands, we lose jobs, businesses and economic infrastructure at an even faster pace. This is why I write about trade issues so much. Our economy is being absolutely eviscerated, and the Obama administration is pushing another giant trade deal which will greatly accelerate this process.
We are committing national economic suicide by running colossal trade deficits year after year. But instead of addressing our problems, our "leaders" just continue to conduct business as usual.
And to make themselves look good, they just keep manipulating the numbers until they seem "reasonable". As I mentioned above, the negative number for Q1 is causing a lot of consternation in Washington, so now the Bureau of Economic Analysis is going to modify the way that GDP is calculated once again. The following comes from Bloomberg...
The way some parts of U.S. gross domestic product are calculated are about to change in the wake of the debate over persistently depressed first-quarter growth.
In a blog post published Friday, the Bureau of Economic Analysis listed a series of alterations it will make in seasonally adjusting data used to calculate economic growth. The changes will be implemented with the release of the initial second-quarter GDP estimate on July 30, the BEA said.
Although the agency adjusts its figures for seasonal variations, growth in any given first quarter still tends to be weaker than in the remaining three, economists have found, a sign there may be some bias in the data. It's a phenomenon economists call "residual seasonality."
Why can't they just give us honest numbers?
Meanwhile, we also learned on Friday that corporate profits declined again during the first quarter of 2015. This was the second quarter in a row that we have seen this happen. The following comes from CNS News...
The BEA report also released data on corporate profits, which showed a decrease from the previous quarter. 'Profits from current production decreased $125.5 billion in the first quarter, compared with a decrease of $30.4 billion in the fourth,' BEA said.
Can you guess the last time that corporate profits declined for two quarters in a row?
It was in 2008.
So many of the exact same red f**gs that popped up seven years ago are popping up once again.
I know that I must sound like a broken record, but right now there are more signals that another major economic downturn is approaching than there has been at any other time since I started The Economic Collapse Blog in 2009.
Hopefully this summer will be relatively quiet, but I fully expect for events to start accelerating significantly during the second half of this year.
So if you have things that you need to get done before the next crisis arrives, you better hurry up, because time is quickly running out.
The Worlds economies collapsing, just as in Prophecy. Jesus "I am the way, the t***h, and the life. No man comes to the Father, but thru me!" Earthquakes, volcanoes, wars and rumors of wars, plagues, pestilence, global economic collapse, Russia, Iran, Turkey, Syria, Jordan forming alliances, Russia a power, the Jews return to their land and Israel reborn, cashless society's, man marked with identifying mark.......we are seeing the convergence of bible prophecy for the first time in 2000 years. Accept Jesus as your lord and saviour. ...time is running out.
For quite a while I have been warning that another economic downturn was coming. Well, now we have official confirmation from the Obama administration that it is happening. The following is an excerpt from the statement that the Bureau of Economic Analysis released on Friday...
Real gross domestic product - the value of the production of goods and services in the United States, adjusted for price changes - decreased at an annual rate of 0.7 percent in the first quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2 percent.
The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, real GDP increased 0.2 percent.
With the second estimate for the first quarter, imports increased more and private inventory investment increased less than previously estimated (for more information, see "Revisions" on page 3).
The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, nonresidential fixed investment, and state and local government spending that were partly offset by positive contributions from personal consumption expenditures (PCE), private inventory investment, and residential fixed investment.
And actually, Q1 GDP would have been far worse if not for a very large inventory buildup. Without that inventory buildup, Q1 GDP would have been in the neighborhood of negative three percent according to Zero Hedge. Despite the happy face that most analysts are putting on these numbers, the t***h is that they reveal some deeply troubling trends.
One of the things that is driving this current downturn is the fact that our trade balance continues to get even worse. In other words, the gap between how much we buy from the rest of the world and how much we sell to the rest of the world is growing.
During the first quarter, imports surged by 5.6 percent. That means that we are buying more from the rest of the planet than we did before.
Unfortunately, during the first quarter of this year exports dropped by a staggering 7.6 percent. That means that the amount of stuff that we are selling to the rest of the planet is falling precipitously.
When our trade deficit expands, we lose jobs, businesses and economic infrastructure at an even faster pace. This is why I write about trade issues so much. Our economy is being absolutely eviscerated, and the Obama administration is pushing another giant trade deal which will greatly accelerate this process.
We are committing national economic suicide by running colossal trade deficits year after year. But instead of addressing our problems, our "leaders" just continue to conduct business as usual.
And to make themselves look good, they just keep manipulating the numbers until they seem "reasonable". As I mentioned above, the negative number for Q1 is causing a lot of consternation in Washington, so now the Bureau of Economic Analysis is going to modify the way that GDP is calculated once again. The following comes from Bloomberg...
The way some parts of U.S. gross domestic product are calculated are about to change in the wake of the debate over persistently depressed first-quarter growth.
In a blog post published Friday, the Bureau of Economic Analysis listed a series of alterations it will make in seasonally adjusting data used to calculate economic growth. The changes will be implemented with the release of the initial second-quarter GDP estimate on July 30, the BEA said.
Although the agency adjusts its figures for seasonal variations, growth in any given first quarter still tends to be weaker than in the remaining three, economists have found, a sign there may be some bias in the data. It's a phenomenon economists call "residual seasonality."
Why can't they just give us honest numbers?
Meanwhile, we also learned on Friday that corporate profits declined again during the first quarter of 2015. This was the second quarter in a row that we have seen this happen. The following comes from CNS News...
The BEA report also released data on corporate profits, which showed a decrease from the previous quarter. 'Profits from current production decreased $125.5 billion in the first quarter, compared with a decrease of $30.4 billion in the fourth,' BEA said.
Can you guess the last time that corporate profits declined for two quarters in a row?
It was in 2008.
So many of the exact same red f**gs that popped up seven years ago are popping up once again.
I know that I must sound like a broken record, but right now there are more signals that another major economic downturn is approaching than there has been at any other time since I started The Economic Collapse Blog in 2009.
Hopefully this summer will be relatively quiet, but I fully expect for events to start accelerating significantly during the second half of this year.
So if you have things that you need to get done before the next crisis arrives, you better hurry up, because time is quickly running out.
The Worlds economies collapsing, just as in Prophecy. Jesus "I am the way, the t***h, and the life. No man comes to the Father, but thru me!" Earthquakes, volcanoes, wars and rumors of wars, plagues, pestilence, global economic collapse, Russia, Iran, Turkey, Syria, Jordan forming alliances, Russia a power, the Jews return to their land and Israel reborn, cashless society's, man marked with identifying mark.......we are seeing the convergence of bible prophecy for the first time in 2000 years. Accept Jesus as your lord and saviour. ...time is running out.
May 31, 2015 17:17:41 #
jack sequim wa wrote:
...The Worlds economies collapsing, just as in Pr... (show quote)
Amen brother! And the lies just keep compounding to try and hide the facts. Here's another "good one."
http://www.businessinsider.com/gross-domestic-income-over-gross-domestic-product-2015-5
In the last year Europe has started negative interest rates with the US just starting.
They're in the process of passing a law in Denmark, which is a precursor to the mark of the beast, making cash t***sactions illegal leading to a cashless society.
And with everything else in the news it just keeps accelerating. The birth pains are getting more intense and with greater frequency.
Look up brother because our redemption is VERY nigh!
May 31, 2015 17:36:53 #
What are you 2 drinking or smoking pass it around before it's to late. The rest of us have missed something, I prefer OLD CROW/ICE & A TOUCH OF WATER. Have a nice day 2 u 2 & the rest who read this. Tork
May 31, 2015 17:38:53 #
Tork wrote:
What are you 2 drinking or smoking pass it around before it's to late. The rest of us have missed something, I prefer OLD CROW/ICE & A TOUCH OF WATER. Have a nice day 2 u 2 & the rest who read this. Tork
There's none so blind as those who will not see.
May 31, 2015 22:42:06 #
mwdegutis wrote:
Amen brother! And the lies just keep compounding t... (show quote)
Amen, and Amen. The world stage is set, the last of the harvest as we see large numbers of middle east, Asia, Europe coming to the Lord, as the age of grace (church age) comes to a close, ushering in the Assyrian.
Just now the Jewish priest did a dry run (rehersal) of Pentecost , holy offering to God, the first harvest. Complete in every detail just as done in the holy temple. Now for the first time in nearly 2000 years, once again just as prophesied! !!!
http://www.breakingisraelnews.com/41273/jewish-priests-perform-pentecost-temple-service-fulfillment-biblical-prophecy-jerusalem/#PcsfRL0PMwJC9mjF.97
Prophecy happening in the world has accelerated in the last 2 years, it is difficult to keep up with. Daily we read in news and world reports of (some days) multiple events happening, just as God said!
God bless, and yes VERY, VERY, NIGH.
Jun 1, 2015 01:45:32 #
Tork wrote:
What are you 2 drinking or smoking pass it around before it's to late. The rest of us have missed something, I prefer OLD CROW/ICE & A TOUCH OF WATER. Have a nice day 2 u 2 & the rest who read this. Tork
We are seeing (sadly) america falling away from power. The economy, and Obama's international actions setting america off to her demise and the word of God, prophesy fulfilling. We grieve for America, while singing praises of glory to our God for his faithfulness and promised word fulfilling the words of the holy bible. A full one third of God's word is prophecy, and hundreds of prophecies have or are in the process of fulfillment since 1948, with most in the last decade. If God is t***h, than his words must also be. This generations Christians are seeing prophecies fulfilled, to the end of all prophecies! !!
Each man has free will to examine God's word, reject or accept. Also each has a choice to harden their heart towards not only God, but those who believe in God.
Jun 1, 2015 06:30:06 #
mwdegutis wrote:
There's none so blind as those who will not see.
From his comment he is not only spiritually blind but also blind drunk.
Jun 1, 2015 12:08:40 #
Orrie wrote:
From his comment he is not only spiritually blind but also blind drunk.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
The number of Rental Defaults and Commercial Vacancies is Soaring... but they're hiding the data...
Dig and you will find...
The amount of Commercial sqft retail & whse space available is mind boggling (empty buildings)
They won't list it though... you cant see it unless you know where to dig or drive to see it...
Jun 1, 2015 14:32:48 #
Sicilianthing wrote:
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
The number of Rental Defaults and Commercial Vacancies is Soaring... but they're hiding the data...
Dig and you will find...
The amount of Commercial sqft retail & whse space available is mind boggling (empty buildings)
They won't list it though... you cant see it unless you know where to dig or drive to see it...
The number of Rental Defaults and Commercial Vacancies is Soaring... but they're hiding the data...
Dig and you will find...
The amount of Commercial sqft retail & whse space available is mind boggling (empty buildings)
They won't list it though... you cant see it unless you know where to dig or drive to see it...
Speaking for Washington, Oregon, California, Nevada from my driving perspective, your dead on. My wife and I have been traveling with our RV, inching our way with Florida as our destination. Currently in Reno, it has taken us 7 weeks to get from the Seattle metro area to here, zig zagging off the main highways and interstates. We are often surprised to the number of large and small square footage commercial buildings and land that lay vacant. I had intended to document with my camera, however the shear number of vacant/abandoned buildings was consuming to much of our vacation time, and also very depressing and a little scary for my wife as we drive take pictures from one vacancy to another. Not worth downing the trip, but the vast closures ARE scary.
Jun 1, 2015 14:36:12 #
jack sequim wa wrote:
Speaking for Washington, Oregon, California, Nev... (show quote)
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Yes, it is system wide and VASTLY unreported.
No worries, we have many eyes out there paying attention to the t***h and the
MATH never lies...
Trust your eyes.
Jun 2, 2015 00:34:37 #
jack sequim wa wrote:
On Friday, the federal government announced that t... (show quote)
Obama and the progressive media have been manipulating the numbers since he was elected. They first tell us how great things are, in bold print and smiling faces and then in two weeks or a month, they quietly revise all the figures downward. Basically the propaganda wing for Obama has been telling us things will get better in just a few weeks for around seven years. It has all been lies, everything about Obama is built on one lie after another, and the sad part is the new crop of useful i***ts who fall for it, time and time again
Jun 2, 2015 00:47:35 #
Ricktloml wrote:
Obama and the progressive media have been manipula... (show quote)
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Banksters are counseling him what to say... he edits his Speech Writers notes...
Goldman Sachs is the hotline to his EAR...
Do not be fooled people........ I just created the Topic earlier : SENATORS paid/Bribed by Goldman Sachs...
Go there, read it... see the vested and the invested.
Jun 2, 2015 09:15:49 #
Ricktloml wrote:
Obama and the progressive media have been manipula... (show quote)
The blindness of obamas followers is cult like and supernatural. His two time useful i***t v**ers are still elevating him to saviour status and more coming on board daily.
The methodologies used by the BLS, BLA, and other government reporting agencies has been changing for decades, helping support economies and administration's for decades. The greatest difference following this occupant of the Oval Office is the lies and Media supporting the lies as never before. You stated the revisions come within two weeks to a month. In this administration's experience, the revised numbers in many cases came only two weeks prior to the following quarter's reporting, or even not at all, or anything more than a website update.
Based on 1930's reporting methodology, we have been in an 8 year depression far deeper than "the great depression" The only difference is that we have unemployment, food stamps, welfare, medicaid picking up the lowest income, homeless, or we would be seeing soup lines in virtually every city across America.
Obama is currently shipping higher numbers of homeless to reactivated Fema camps, otherwise he could not keep the debts of our economy and no jobs out of the media, here is a link, one of hundreds
http://www.prisonplanet.com/fema-camps-city-to-exile-the-homeless-its-not-a-conspiracy-theory-anymore.html
Jun 2, 2015 09:28:02 #
jack sequim wa wrote:
The blindness of obamas followers is cult like and... (show quote)
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Great stuff, I'm on it, get back to you, standby...
Jun 2, 2015 09:34:16 #
jack sequim wa wrote:
The blindness of obamas followers is cult like and... (show quote)
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I'm not surprised at all...
Also, FEMA and DHS, NSA and whoever else... has a plan in place to convert all Public Storage facilities into Detention Camps when Martial Law starts...
Everyone's junk will be auctioned off immediately if they don't move it out as those cells will be converted to living quarters.
Wake up People....
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