Economy Suffers Worst Drop Since Recession in 2009

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Pshht. Here’s a little secret. The recession never actually ended. The media and handpicked economics experts have been insisting that everything is fine now. And just like their Global Warmist colleagues, their numbers don’t reflect reality.

They keep putting out optimistic expectations that get crushed by the actual real world numbers. And now that happened again.

The U.S. economy turned in its worst quarter in five years during the first three months of 2014, shrinking more sharply than previously estimated.

The decline was the sharpest since growth tumbled 5.4% in the first quarter of 2009 during the Great Recession. The last time the economy shrank was in the first quarter of 2011, slipping 1.3%.

Also, exports declined 8.9%, vs. the 6% drop previously estimated.

The U.S. economy shrank at 2.9 percent annual rate in in the first quarter, a far more alarming downward pace than announced in two previous government estimates, according to the Commerce Department.

The figure is nearly three times lower than the  preliminary estimate of 1 percent released last month, and marks the worst performance for a three-month period since 2009.

Somehow the real figures keep undercutting the estimates. But the blame is being assigned to winter, because weather is apparently a new phenomenon. It’s true though that while winters did exist before, Warmist hijacking of climate science led to a prediction of a warmer winter. That prediction was false and cost people’s lives.

But the left always puts ideology ahead of science and people.

And let’s not forget ObamaCare.

The Commerce Department said its final revision reflected a weaker-than-expected pace of healthcare spending, which caused a downgrading of the consumer spending estimate.

Obama is the gift that just keeps on giving. So long as you remember that in German, ‘Gift’ has a very different meaning.

  • Harif58

    So long as you remember that in German, ‘Gift’ has a very different meaning. Love it, that is just great,thanks

  • UCSPanther

    It’s like how the Soviets did their utmost to project an illusion of strength and stability to everyone, including their own subjects even as their empire was collapsing under their own feet…

  • BillieHCote

    until I looked at the draft for $4470 , I didn’t believe …that…my neighbours mother woz like they say realey making money part time on there computar. . there aunt has been doing this 4 less than 17 months and resantly paid the morgage on there apartment and bought a great new Honda .

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  • CowboyUp

    I love the way they blame it on bad weather, the soviets had 70 years of that. They expect GDP growth this quarter to be over 3%, but we’ve been hearing that one for a while now too.

  • http://www.stubbornthings.org NAHALKIDES

    A story that is relevant to this one and under-reported is that the government is changing the way it calculates GDP and (surprise!) the new methodology make the economy look a bit better than before. Although the change is small, it might be just enough to show small positive growth for Q2, thus saving Barry the stigma of having presided over a second recession.

    I think we have long since reached the point that the statistics produced by this administration should not be trusted. As a matter of fact, why do we depend on governments for this anyway? Even before this, I always found the metric for GDP highly suspicious. Surely private economists can calculate things like GDP and unemployment rate if they have sufficient data.