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'Best-Looking' GDP Drop You'll Ever See

'Best-Looking' GDP Drop You'll Ever See | wiedermand | Scoop.it
Negative economic growth in the fourth quarter provided a scary headline to start Wednesday's trading but probably little else in market impact.
David Wiederman's insight:

Despite negative economic growth, there was only a .1 percent drop in the gross domestic product. Additionally, there is strong consumer spending and business spending which can help push the GDP in a positive direction for the future. Also, there is progress in the housing industry. Peter Schiff believes that the Fed should stop creating money and generating inflation. There is a worry that if there is another recession ahead, it will be worse than the one the US just got out of. Consumer spending rose 2.2 percent, which is an optimistic view that maybe if it keeps on increasing, the GDP will be higher. Savings grew to 4.7 percent, consumption to 1.5. All of these increases are masked by the .1 percent drop; however, economists are stating that this is the best drop in GDP because there are many positives behind the .1 percent drop.

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Zachary Beery's curator insight, February 7, 2013 11:46 AM

This article says that th recent drop in GDP isn't that bad cause it is mostly due to the recent cut in goverenment spending. this is pretty much just the drop before the big leap that hopefully comes soon.

Sarah Nguyen's curator insight, February 14, 2013 4:58 AM

Even though the GDP has dropped at .1 percent, it is reassuring to know that it is largely because of government spending and business inventories. Consumer spending and the private sector in general was able to grow more than the previous quarter, even despite the natural disaster Sandy.

Patrick Demitis Brown's comment, February 21, 2013 12:06 AM
GDP is probably going to be just as low or lower in the second quarter, once we've gotten rid of the payroll tax cuts. Im not sure how our congress isn't doing anything about that, this will increase taxes, defense spending going down, the number of consumers able to spend will go down and GDP will go down more sooo......
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The only chart you need on the GDP report

The only chart you need on the GDP report | wiedermand | Scoop.it
Last quarter's GDP report has been been called "the best-looking contraction in US GDP you’ll ever see." Here's the exact picture it paints.
David Wiederman's insight:

This article shows the nations GDP report for the 4th quarter of 2012. It shows how the economy has shrunk for the first time since the recession's nadir in 2009. The chart shows the contribution to percent change in Real GDP for: consumer spending, fixed investmen, defense and more. It helps show in a simple format how the GDP has changed in the fourth quarter of 2012.

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Christina Breitbeil's curator insight, February 7, 2013 12:55 AM

This graph was very interesting to observe, because it offered insight into the complexities behind the number that is the collective GDP, which in this article is a fall in 0.1%. It was significant, in my opinion, that although the total GDP was a decrease, consumer and investment spending is doing exceptionally well. This just goes to show that the economy may be somewhat more stable than how it appears on the surface.

Zachary Beery's curator insight, February 7, 2013 11:44 AM

This chart shows the percent change in each department of the GDP. Whether it is going up or down. It shows an increase in consumer spending so that is a good sign for the economy.

Sarah Nguyen's curator insight, February 13, 2013 8:09 AM

This article and it's graph of the breakdown of the GDP is very reader friendly and easy to understand. It is very clear and obvious that the components of the GDP that are making the whole suffer the most are business inventory and federal defense spending. While reading, there was one comment by another reader that especially caught my eye. They reasoned that because many people were anticipating a pro-business Romney to win the election in the third quarterr of 2012, they planned ahead with increased inventories and expansion.

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Libya and Egypt present sudden test for Obama and Romney

Libya and Egypt present sudden test for Obama and Romney | wiedermand | Scoop.it
The killing of Americans in Libya and the sacking of the U.S. Embassy in Egypt present Obama and Romney with a sudden, delicate leadership test 55 days from the election day.
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Larry J. Sabato's Crystal Ball » The Conventions: How Big a Bounce?

Larry J. Sabato's Crystal Ball » The Conventions: How Big a Bounce? | wiedermand | Scoop.it

The previous bounces are very interesting to look at!

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Romney in a Word: ‘Honest,’ ‘Businessman,’ ‘Rich’

Romney in a Word: ‘Honest,’ ‘Businessman,’ ‘Rich’ | wiedermand | Scoop.it
As the American public has learned more about Mitt Romney over the course of the past year, his image has changed substantially.
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U.S. Growth Halted as Federal Spending Fell in 4th Quarter

U.S. Growth Halted as Federal Spending Fell in 4th Quarter | wiedermand | Scoop.it
The government played a role in slowing the economic recovery as cuts in military spending and other factors overwhelmed the Federal Reserve’s expanded campaign to spur growth.
David Wiederman's insight:

The economy's recovery regresses due to federal spending falling in the 4th quarter of 2012. Cuts in military spending, fewer exports and smaller business stockpiles all created the worst quarter since the economy was in a recession. On the contrary, prelimnary data reveals that there is strong spending by businesses and consumers, which are the two highest in the GDP formula. Throughout 2012, the economy grew by 2.2 percent, which is .4 percent higher than the previous year. If there hadn't been a drop in government spending in the fourth quarter, it would have expanded at a rate of 1.2 percent.

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Bo Li_1's curator insight, February 6, 2013 12:50 PM

It seems that this article says the the government has significantly decreased in military spending. As a result, it seems that US economy will also suffer a decrease in GDP.

Andrew Alter's curator insight, February 6, 2013 6:51 PM

The economy may have shrunk, but it shrunk in the most unharmful way for the average American. Government spending substantially decreased,  notably in the military, which allows for future government spending in domestic areas.

Matt Kellogg's curator insight, February 6, 2013 9:57 PM

govenment cut a lot of defense spending. Economy didnt decline much considering how much was cut

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State Felon Voting Laws - Felon Voting - ProCon.org

State Felon Voting Laws - Felon Voting - ProCon.org | wiedermand | Scoop.it

I find it interesting how Maine and Vermont allow people in prison to vote despite being in prison. I think the most reasonable way of handling the situation is to not allow a person to vote until they have done their incarceration, parole and probation. I'm glad that 19 states, most in any category, go this way. It is reasonable; however, I do think that in special cases a person's right to vote may be taken away forever. For example, if someone was sentenced to life in prison, he or she may never be allowed to vote ever again. I love how each state is different and can be different about this issue. If someone does not like the way Texas feels about this issue, he or she can move to another state who feels the same way he or she does. It is a great thing about this country. I do not understand Maine's and Vermont's decision to allow people in prison to vote, but I guess not everyone will agree!

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GOP Convention, Romney Speech Evoke Lukewarm Reactions

GOP Convention, Romney Speech Evoke Lukewarm Reactions | wiedermand | Scoop.it
Last week's GOP convention had a minimal impact on Americans' voting intentions, and the public rated Mitt Romney's speech the least positively of any presidential nomination acceptance speech Gallup has measured since 1996.
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Gallup.Com - Polling Matters by Frank Newport: No Signs of GOP Convention Bounce Yet

A Bounce cannot yet be determined just by the RNC just yet.

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