Use access key #2 to skip to page content.

alstry (36.32)

Seriously....What the Heck is GDP???

Recs

15

November 22, 2009 – Comments (4)

Tax collections tumbled 11% across 44 states in the third quarter, according to a report that suggests government revenue will remain depressed long after the economy has recovered from recession.

Every major source of state tax revenue -- sales, corporate- and personal-income taxes -- fell in the third quarter compared with the same period a year ago, according to a report to be released Monday by the Nelson A. Rockefeller Institute of Government at the State University of New York.

Based on a number of CAPs analysis, we know that sales for S&P 500 companies were down materially in the third quarter....we also know that small business got clobbered in the third quarter and confirming all of this is a double digit decline in taxes.....even with states heavy dependence of relatively sticky property taxes which have little correlation to production of goods and services.

Despite all of the above, we  are supposed to believe that the economy grew in the third quarter and economists bought into this????  No wonder economists must be vetted by the Fed if they hope to have any recognition in their profession.

This is the same crew who brought us the job loss/wage cut recovery when 70% of GDP is the consumer.

The sheep keep getting herded......but few really listen.  If the Fed and economists are simply lying, what are we being set up for????

4 Comments – Post Your Own

#1) On November 22, 2009 at 11:53 PM, topsecret09 (44.31) wrote:

Generally Dumb People......      TS.

Report this comment
#2) On November 22, 2009 at 11:53 PM, alstry (36.32) wrote:

BACKPEDDLING BEGINNING???

Recession shows shortcomings in U.S. economic data

(Reuters) - The U.S. government is having a tough time guesstimating how many small businesses failed in this recession, casting doubt on the reliability of vital data on employment and economic growth.

The formula the U.S. Labor Department designed to help it deliver timely, thorough monthly employment reports broke down in the heat of the financial crisis, miscounting the number of jobs by an estimated 824,000 in the year through March.

The most likely culprit is the so-called "birth-death" model, which the Labor Department uses to estimate how many companies were created or destroyed.

That model appears to have misjudged how many companies went out of business during the recession, meaning the labor market was even weaker than initially thought when President Barack Obama took office in January. More recent figures may still be underestimating job losses now, but it will be many months before the Labor Department is certain.

Report this comment
#3) On November 23, 2009 at 12:00 AM, chk999 (99.97) wrote:

Yet you're short a bunch of the gold producers in CAPS, so you think the dollar is going to firm.

Report this comment
#4) On November 23, 2009 at 12:27 AM, alstry (36.32) wrote:

CRAZY ISN'T IT????

H1N1 Deaths Doubling Almost Every Two Weeks in Europe as Toll Reaches 667

If your currency was about to be attacked by the rest of the world.....wouldn't you attack back???

Germany warns US on market bubbles; Echoes China's fears...

What currency would you want to hold in case of a world war???

President Hugo Chavez is hailing the forthcoming arrival of 300 Russian-made tanks and armored vehicles, and urging civilians to join government-organized militias to be ready to defend Venezuela from a foreign invasion.

Cuba: Military exercise braces island for US attack...

Iran to hold war games to protect nuclear sites...

Report this comment

Featured Broker Partners


Advertisement