U.S. Economy Shrinks in 4th Qtr

[Ben Kenobi]

Was too early, BVM comes back for Lent.

Albie may hit on you

Unlikely, this is a woman who's actually hot.

[Alexander's Horse]

I wonder what the BVM thinks of that.

[Ben Kenobi]

Why don't you ask her? What, are you protestant or something?

[Aeson]

http://usatoday30.usatoday.com/money...8-gdp-q3_x.htm

Yes...clearly it was Hurricane Sandy's fault.

Clearly ... the colder the water, the more the shrinkage ...

[Alexander's Horse]

I don't have time to raise your peccadillos with the BVM Ben.

[MichaeltheGreat]

That was fast. It only took you approximately 3 minutes between praising the views of market types and economists to denigrating them when it suited the point you were trying to make.

No, I was abusing Ben. Not praising market types and economists in the least. I'd rather have a broken watch than an economist. At least I know the watch will be right twice a day.

[MichaeltheGreat]

4th quarter? We need Tim Tebow

He even won one of his last five starts. Great way to end your career as an NFL QB.

[MichaeltheGreat]

4th quarter? We need Tim Tebow

He even won one of his last five starts. Great way to end your career as an NFL QB.

[Al B. Sure!]

No, I was abusing Ben. Not praising market types and economists in the least. I'd rather have a broken watch than an economist. At least I know the watch will be right twice a day.

I went to school for... nevermind.

[MichaeltheGreat]

Doesn't mean you can't make a lot of money at it as a consultant. The basic function in industry (as opposed to academia) is to get yourself hired out to provide a plausible validation of your client's views.

[Kidlicious]

Clearly ... the colder the water, the more the shrinkage ...

It's a lot more than 0.1%. I can tell you that.

[MichaeltheGreat]

Who knew that bad economic policies = bad economic performance.

One quarter's data (which will no doubt be adjusted one way or another as happens with other month) does not make for economic performance.

[MichaeltheGreat]

It's a lot more than 0.1%. I can tell you that.

So now you're the repository of nationwide economic data?

[MichaeltheGreat]

No mention of Sandy in the official U.S. Dept of Commerce release....

Most likely because the data is not in yet to quantify the effects. If Sandy didn't have an effect on GDP, it would be the first major storm to hit the US which did not do so.

[Zevico]

Short term, stimulus can increase consumer spending by the bureaucrats hired to implement it or, if it involves cash handouts, then handouts to those people as well. The programs implemented are usually a complete waste of time and money however: either because they are implemented as pork in the course of a "we can't wait long enough to read this bill and consider its effects" hysteria, or because they're poorly planned in general, and so forth. Long-term, in other words, they do nothing to address structural issues that slow down the economy such as barriers to trade or onerous regulation, OHS laws, or workplace bargaining laws and increase the debt burden.