MORE ECONOMIC SLUGGISHNESS …
|| By FITSNEWS || America’s economy continued sucking wind in April, with retail sales remaining unchanged from the month of March. Economists had expected a modest rise of 0.2 percent.
After getting socked from December through February, retail sales posted a revised 1.2 percent uptick in March – however the momentum clearly didn’t carry over.
The abysmal reading is further evidence that the second quarter’s gross domestic product could be worse than the first quarter’s – which of course could mean the American economy is headed toward a recession.
Wait, wait … what? Wasn’t this supposed to be the year rainbows and unicorns were unleashed on our economic landscape? Yes … yes it was.
Unfortunately, rather than embrace the free market – the federal government has chosen to continue its entitlement perpetuation, wealth redistribution, crony capitalism, welfare statism and global interventionism (even though it’s already more than $18 trillion in the hole).
Oh, and let’s not forget the impact of socialized medicine.
For those of you keeping score at home, consumer spending accounts for more than two-thirds of the U.S. economy. Which means if spending isn’t growing, the economy isn’t growing.
19 comments
I’d have money to spend if I didn’t spend all day posting on Fits under a dozen different fake names.LMAO!!!
Stop pretending to be me you jerk! Muslim Obama, abortions, gay marriage! LMAO!!!
Economy is great.My family just went to Florida.Circle K had 2 hot dogs for a dollar.Lots of iilegals eating dogs.
Morning Flip!
Gay Muslim illegal immigrant Obamacare abortionists! Everyone is liberal except for me! I like higher taxes! LMAO!!! LMAO!!!
Don’t forget outlet shopping and surf t-shirts.
Gas prices are on the rise and should be around $4 a gallon by November 2016.
You know the economy is bad when gas prices are low and nobody is spending money.
Only growth in economy is mandatory Obamacare premiums.
I make predictions like I know what I’m talking about, but I’m just randomly guessing and hoping my Republican masters nod in approval.
Anyone that thinks they know what the price of gas will be 17 months from now is really just guessing.
From Reuters:
A global oil glut is building as OPEC kingpin Saudi Arabia pumps near record highs in an attempt to win a market-share battle against stubbornly resistant U.S. shale production, the International Energy Agency (IEA) said on Wednesday.
The West’s energy watchdog said in a monthly report that although higher-than-expected oil demand was helping to ease the glut, growth in global oil consumption was far from spectacular.
As a result, signs are emerging that the crude oil glut is shifting into refined products markets, which could make a recent rally in oil prices unsustainable.
Kinda like your 2014 mid- term elections predictions?You didn’t get ONE race right.Not ONE.
Sorry, I find it hard to admit I’m wrong because it happens so often. Sorry vicupstate you are completely right, I have no clue what I’m talking about.
You made the prediction, not me. I correctly predicted the NH Senate race, btw.
Of course consumer credit card debt also declined in Q1-2015 – so it may be that spending is in check because consumers remain reluctant to use credit for purchases. I suspect that a long term for millenials in the coming decade since the Great Recession will be to avoid using credit when at all possible. OK, you can all attack me now, because God forbid someone might try and have a rational non-partisan explanation on why consumers remain a little tight fisted with the cash.
Rocky, the biggest thing not counted is service sector spending.
Last week the unemployment rate dropped and 220,000+ jobs were created, but FITS didn’t write about it. I guess it didn’t fit his doomsday narrative.
Fits knows the unemployment number is a lie-why report it.Only socialists like yourself still gobble that shit up.
The Labor Department counts someone as employed even if they are working part time but want a full time job. It also considers people who have no job and haven’t looked for one in the past four weeks as “not in the labor force,” rather than unemployed.
The Pig Book is out! http://cagw.org/sites/default/files/pdf/Pig-Book-2015.pdf
And congress has stepped in it again.
My I notice we have South Carolina’s intelligentsia posting here. It’s rather funny that these clowns spend time playing with their computers and not working. Could this be the reason for the economy growing and you assholes play games. Better off playing with yourselves.
Just another excuse for Will to post a photo of women’s shoes.