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Home › Forums › Financial Markets/Economics › Recession deepens…first quarter GDP worse than expected…

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  • April 30, 2009 at 3:07 PM #15580
    Bob
    Participant

    While some claim that the economy is starting to turn the corner, the latest GDP numbers tell a different story.

    http://www.msnbc.msn.com/id/30472088/

    Recession still has grip on the economy
    First-quarter GDP shrinks at worse-than-expected 6.1 percent pace

    April 29, 2009

    WASHINGTON – The economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending.

    The Commerce Department’s report, released Wednesday, dashed hopes that the recession’s grip on the country loosened in the first quarter. Economists surveyed by Thomson Reuters expected a 5 percent annualized decline.

    April 30, 2009 at 5:30 PM #390611
    (former)FormerSanDiegan
    Participant

    Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.

    April 30, 2009 at 5:30 PM #390874
    (former)FormerSanDiegan
    Participant

    Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.

    April 30, 2009 at 5:30 PM #391082
    (former)FormerSanDiegan
    Participant

    Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.

    April 30, 2009 at 5:30 PM #391133
    (former)FormerSanDiegan
    Participant

    Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.

    April 30, 2009 at 5:30 PM #391276
    (former)FormerSanDiegan
    Participant

    Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.

    April 30, 2009 at 5:35 PM #390616
    Coronita
    Participant

    [quote=FormerSanDiegan]Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.
    [/quote]

    That was expected. That’s what happens when UAW owns a majority stake followed by the Fed followed by the bondholders which get didly squat….

    April 30, 2009 at 5:35 PM #390879
    Coronita
    Participant

    [quote=FormerSanDiegan]Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.
    [/quote]

    That was expected. That’s what happens when UAW owns a majority stake followed by the Fed followed by the bondholders which get didly squat….

    April 30, 2009 at 5:35 PM #391087
    Coronita
    Participant

    [quote=FormerSanDiegan]Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.
    [/quote]

    That was expected. That’s what happens when UAW owns a majority stake followed by the Fed followed by the bondholders which get didly squat….

    April 30, 2009 at 5:35 PM #391138
    Coronita
    Participant

    [quote=FormerSanDiegan]Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.
    [/quote]

    That was expected. That’s what happens when UAW owns a majority stake followed by the Fed followed by the bondholders which get didly squat….

    April 30, 2009 at 5:35 PM #391281
    Coronita
    Participant

    [quote=FormerSanDiegan]Also, Chrysler filed for bankruptcy.

    … and the stock market rallied/yawned on these two pieces of news.
    [/quote]

    That was expected. That’s what happens when UAW owns a majority stake followed by the Fed followed by the bondholders which get didly squat….

    May 1, 2009 at 5:41 AM #390790
    4plexowner
    Participant

    “some claim that the economy is starting to turn the corner”

    only liars and idiots

    May 1, 2009 at 5:41 AM #391054
    4plexowner
    Participant

    “some claim that the economy is starting to turn the corner”

    only liars and idiots

    May 1, 2009 at 5:41 AM #391262
    4plexowner
    Participant

    “some claim that the economy is starting to turn the corner”

    only liars and idiots

    May 1, 2009 at 5:41 AM #391314
    4plexowner
    Participant

    “some claim that the economy is starting to turn the corner”

    only liars and idiots

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