WASHINGTON (AP) — The U.S. economy shrank at a 0.7 percent annual rate in the first three months of the year, depressed by a severe winter and a widening trade deficit.
The government’s revision for last quarter was weaker than its initial estimate of a 0.2 percent growth rate. The U.S. trade gap – the difference between the value of exports and the larger value of imports – was found to be wider than first estimated. And consumer spending was slower than previously thought.
But steady job gains are expected to fuel modestly healthy growth for the rest of 2015. The harsh winter, which kept many consumers home and businesses closed, and a labor dispute that slowed trade at West Coast ports are both over. Home sales and construction are rebounding, along with business investment.
The Atlanta Fed’s GDP Now forecast for the 2nd quarter is +0.8%, Goldman Sachs just reduced its long-term GDP growth forecast from +2.25% to +1.75%, and JPMorgan says that its long-term GDP growth forecast of +1.75% is too optimistic.
I suppose the good news is the year-over-year 1st-quarter GDP growth was +2.7% even with this downgrade, though that’s mostly 2nd- and 3rd-quarter performance from last year.
This is what the global warming cult wants. Less economic activity, means less CO2 in their eyes.
Less green planet and higher heating bills in the winter is the cult’s goal.
So the global warming cult wants more economic activity?
Carrying a snowball onto the floor of a Congress or pointing to two snowy cold winters in WI is some peoples proof that global warming doesn’t exist. When it’s 95 degrees and the land is parched others with the same limited mental capacity will argue global warming is already here. Economic activity isn’t reliant on the burning of fossil fuels but let’s say it was, there are ways to reduce those emissions. Typically, global warming theorists tend to be environmentalists and conservationists. I highly doubt they want a less green planet. I would say most people want a sustainable and clean environment. With all these Global warming cults, liberal Marxists, evil doers and non Christians terrorizing the world people must be afraid to take their children out of the house, unless of course it’s to an anti Muslim rally to draw offensive cartoon depictions. Wasn’t the topic of this thread the .07% drop in the GDP last quarter?
So is the global warming cult happy with the latest drop in U.S. GDP?
Tough to tell from that last post.
How much of a GDP drop would it take to make the global warming cult happy?
I have never talked to a cult member but I will take your word for it.