GDP Grew 0.2% For Q1 2015 >>> GDP Shrank 0.7% For Q1 2015.
The GDP was originally said to have grown at a meager 0.2% for the first quarter of 2015 back in April. That was bad enough, however, it gets worse. The GDP was revised down to -0.7%. That means that the economy actually shrank by 0.7%. There was no growth. Way to go Barack Obama with your lousy economic plan that has done nothing but make money for the Wall Street ultra-rich. The GDP in Q4 2014 was 2.6%. It would appear we are headed in the wrong direction. The report was the government’s second estimate of first-quarter GDP. It will publish a final estimate in June. Wow, it may actually get revised to an even worse number.
A tax cut or reduction of regulation is certainly not on the table for this socialist president. Of course Obama and his minions will point to the unemployment number of 5.4% for the uninformed in America. The reality is that unemployment is in double digits.
The U.S. economy went into reverse in the first three months of this year as a severe winter and a widening trade deficit took a harsher toll than initially thought.
The overall economy as measured by the gross domestic product contracted at an annual rate of 0.7 percent in the January-March period, the Commerce Department reported Friday.
The revised figure, weaker than the government’s initial estimate of a meager 0.2 percent growth rate, reflects a bigger trade gap and slower consumer spending. It marked the first decline since a 2.1 percent contraction in the first three months of 2014, a slump that was also blamed on winter weather.
3 STRIKES FOR BALTIMORE & MLB: First Time in the History of MJB … No Fans in the Stands as Chicago White Sox and Baltimore Orioles Play in Camden Yards in Baltimore
TREE FALLS IN THE WOODS MLB GAME IS PLAYED AND THERE IS NO ONE THERE TO WATCH IT, DOES IT MAKE A SOUND?
TODAY’S SCORE FROM CAMDEN YARDS: BALTIMORE 0 – RIOTERS 15.
STRIKE ONE … Thanks to the rioters, looters and those who cannot be trusted in Baltimore to protest calmly and without violence, the MLB game between the Chicago White Sox and the Baltimore Orioles will be played today, but there will be no fans in the stands. For the first time in the history of baseball, a game will be played with the public not allowed to be in the stadium to watch it. Way to go protesters you made history, you should be so incredibly proud of yourselves. The powers that be in baseball and the local authorities basically deemed that you could not be trusted to act accordingly.
NO FANS, just media
The game Wednesday will start at 2:05 p.m. ET.
“All of the decisions in Baltimore were driven first by the desire to insure the safety of fans, players, umpires and stadium workers,” MLB commissioner Rob Manfred wrote in an email to The Associated Press. “Only after we were comfortable that those concerns had been addressed did we consider competitive issues and the integrity of the schedule.”
An MLB spokesman told ESPN’s Outside The Lines that the league is not aware of any other time that a major league game has been played, by design, without spectators allowed in to watch.
In addition, MLB spokesman Matt Bourne said the league office would not comment as to how, if at all, it would compensate the Orioles for the lost attendance.
Great moments happen when you have great Leadership
STRIKE TWO: Major League Baseball and Barack Hussein Obama must have leaned nothing from GWB throwing out the first ball in Yankee Stadium following the terror attacks on 9-11. The decision to play today’s game at Camden Yards with no fans in the stands is BS. By doing so, you gave the violent looters and rioters their victory. If you could not protect the safety of fans in a ball park and their property, then maybe it would have been a better idea to postpones the game and play a double header at a later date in the season. Since you were willing to play a game with no fans, then you money grubbing SOB’s could have played a real double header, like in days or yore, to provide a gift to the Baltimore fans, rather than a day-night double header so you can double your profits. Hmm? Note to MLB, the optics look terrible of a game going on inside a locked stadium and fans on the outside looking in.
If you were not going to make a statement and have GWB throw out the first pitch and say, “WE ARE BALTIMORE” … then cancel the game. Obviously, Obama was too much of a ninny to show up in Baltimore as the first black president would have been booed by folks that could have been his son as he has done nothing to help blacks during his presidency. In reality, it has been liberal Democrat policies that are responsible for inner cities like Baltimore and the lack of hope as all they have to look forward to is a welfare check and a hand out.
STRIKE THREE: The City of Baltimore and liberal Democrat politics are the biggest losers and have struck out. Make no mistake about it, Baltimore, MD is not Ferguson, MO but yet the exact same thing occurred. The demographics of Baltimore is that it is 63% black and only about 31% white. The police make up in Baltimore is very diverse. However, the problem with Baltimore is the sad state of affairs of Democrat politics and the lack of hope that it provides to inner city minorities, who are in this case the majority. Baltimore County, much like the state of Maryland is a deep blue where is a Republican is ever elected it is by luck. But the problem and lack of opportunity, jobs and hope is a Democrat problem. It is the Democrat politicians that have left these folks behind where Barack Obama made comments as if he was not part of the problem. Keeping people dependent on the government generation after generation creates hopelessness and anger. It is only now that black America wants to take their wrath out on the police. But the Mayor and the police chief of Baltimore are black, so there goes that racial thing.
The problem, as he explained it, is that Americans only worry about poor neighborhoods when there’s a crisis, failing to engage with their concerns and difficulties over time.
“People have a tendency, once the fires have been put out, and the cars aren’t being tipped over, you know there’s not some immediate crisis, then folks wanna go back and focus on, you know, whatever reality TV thing is going on,” he said.
Obama complained about “dis-invested” communities where the primary economy was the drug trade, where young people were more likely to go to prison than college.
Who gave the stand down order to police that made them sitting ducks?
Just curious, after watching the mob burn down business, loot and act in such a disgraceful manner, who in the hell would ever want to invest here? Making matters worse, to get back on track with the theme of this post, the protesters managed to create an atmosphere of uncertainty where MLB had to take action for the safety of its players and fans. Not only is today’s baseball game between the Orioles and Chi-sox without fans, it is without employing people of Baltimore selling beer, food, concessions and other memorabilia. It is without restaurants and bars in the downtown Camden Yard area making money from a day game. Do you know how much money the city of Baltimore has lost because these games now have to be moved and this one was played in front of no one? Way to go rioters, you showed them.
Making matters worse for Baltimore and its people is the fact that the upcoming Oriole home-stand with the Rays is going to be played in Tampa Bay, Florida, not Baltimore. The hardworking folks who make a living from the playing of home baseball games are out of luck. Thanks rioters. Most importantly, a special thanks to the leftist mayor who obviously gave a stand down order to the police the day of the funeral of Freddie Gray. Oh yeah, remember him? Another blemish on Baltimore as the power structure, which is black, failed to put forth in a timely manner to diffuse the bomb before it blew. Baltimore exploded into riots and looked like Baltimore circa 1968, because of incompetence at the highest levels and an ideology to let protesters be protesters and let them get it out of their systems. What’s a couple, 2, 3, 20 businesses looted and burned. After all, in a PC society, we can’t make the rioters feel uncomfortable.
In the end it is Baltimore and its power structure that has much to explain. From how does Freddie Gray die in police custody, to the lack of preparation to prevent riots to the business owners you turned your backs on.The plight of the poor is on you and the fact that you refuse to create an atmosphere to help break the cycle. Instead you just want to throw more failed money after more failed money. How’s that war on Poverty going? Obviously it has failed miserably.
You have struck out.
WELCOME TO THE OBAMA ECONOMIC RECOVERY …
The U.S. economy ground nearly to a halt in the first three months of the year, according to government data released Wednesday morning, as exports plunged and severe winter weather helped keep consumers indoors.
The gross domestic product grew between January and March at an annualized rate of 0.2 percent, the U.S. Commerce Department said, adding to the picture of an economy braking sharply after accelerating for much of last year. The pace fell well shy of the 1 percent mark anticipated by analysts and marked the weakest quarter in a year.
The economy had expanded at a rate of 2.2 percent in the final three months of 2014 and at a rate of 2.4 percent for the year.
Forbes - U.S. GDP Gained A Sluggish 0.2% In First Quarter 2015, Its like Deja vu all over again.
If you were feeling a bit of déjà vu Wednesday morning look no further than the latest reading of U.S. economic growth for the cause. Like the initial estimate of first quarter 2014 GDP, the first reading says the economy grew in Q1 2015 — but very, very, very slowly.
On Wednesday, the Bureau of Economic Analysis released its advance estimate of real gross domestic product for the first quarter of this year— covering January, February and March. The release showed output in the U.S. increasing at a rate of 0.2%. This is a huge deceleration from the fourth quarter 2014 when real GDP gained 2.2%. Economists on average were anticipating growth of 1% in Q1.
Last year the GDP reading was ultimately revised to negative 2.1% then economic growth rebounded sharply in the second (4.6%) and third (5%) quarters.
CEO TELLS EMPLOYEES NEW MINIMUM WAGE WILL BE $70, 000 AND IT WASN’T APRIL FOOL’S DAY …
Gravity Payments CEO Dan Price announced to his employees that the new company minimum wage will be $70,000. The stunned employees of the Ballard, Washington based company were mostly likely stunned when they heard the CEO’s words, pinching themselves to make sure they were not dreaming and checking the calendar to make sure it was not April 1st. Good for him and for a CEO to make this decision on his own with no protests of employees demanding $15 an hour. Kudos to the privately owned company and kudos to CEO Dan Price for his brilliant marketing strategy. Although costly in the short run, this will greatly pay off in the long run. The Gravity raise will be phased in over the next few years; however, they will be getting the best and brightest future employees.
Obviously not every boss can do what CEO Dan Price announced and it better works for smaller companies with less employees. Dan Price made $1 M a year and took a pay cut to make it possible that his employees make $70K a year. WOW!!! I do not agree at all that the government should dictate to a business what the minimum wage should be. Those that you hear about in fast food restaurants protesting for $15/hr minimum wage can take a hike. Trying getting more order correct first or being able to make proper change from $15 before you think you deserve it. However, if a private business does it on their own because they think their employees are worth it … more power to them.
Employees at a Seattle company are still trying to wrap their minds around the news their boss just delivered. Some of them are getting a raise.
A huge one.
“You might be making $35,000 a year right now but everyone in here will definitely be making $70,000 a year and I’m super excited about that,” Dan Price, CEO of Gravity Payments in Ballard, told his employees during a recent gathering.
The announcement caught everyone off-guard. Could it be true? $70,000 is the new minimum wage in this office?
Watch the VIDEO below of CEO of Gravity Payments Dan Price explain his reasoning for this move. He is not a socialist and he tells Stuart Varney on Fox Business News that he thinks that he will get a great ROI in the long run. With the fact that this is a small business, I would tend to agree 100%. This is how small business takes on the giants, you pay for talent, hard work and initiative.
CEO cuts $1M salary to pay employees at least $70K
Donald Trump at the 2015 NRA-ILA Leadership Forum at Annual NRA Meetings in Nashville, TN … “Barack Obama Completely Incompetent”
Donald Trump at NRA-ILA Leadership Forum … I promise you one thing, if I run for president and I win, the Second Amendment will be totally protected.”
During Trump’s speech before the NRA, The Donald called Barack Obama completely incompetent and doesn’t know what he is doing and he said that we have negotiators dealing with the Iran nuclear deal that have no clue. Donald Trump said that the negotiators should read his book, ‘The Art of the Deal’. We have people who don’t know what they are doing. Trump said we need a new president, we need new leadership, we need strength, and we need people who are respected.
Donald Trump went on to say, “I don’t know if he [Obama] has the interest of the country, he probably does, but as I said, I think the whole group lead by the leader is grossly, grossly incompetent.” Trump also went on to talk about the US economy, illegal immigration and jobs being sent to Mexico.
I would actually have to disagree with Donald Trump, I don’t think Obama is incompetent at all, I think he is purposely trying to destroy America from within. One does not spit on your allies and shake hands with dictators and make deals with countries who want to see your annihilation, unless you mean to.
US Only Adds 126,000 Jobs in March 2015 … 245K Expected; Unemployment Rate Remains at 5.5% … Record Level of Americans Not in Labor Force
THE OTHER BARACK OBAMA LIE … THERE IS AN ECONOMIC RECOVERY IN THE US.
Economic recovery, what economic recovery? As reported at CNBC, economists expected nonfarm payrolls to rise 245,000 in March 2015 and the unemployment rate was to remain the same; however, the numbers came in much, much, much lower. In fact, only 126,000 jobs were created in March, the smallest gain since December 2013. OK, so how did only half the number of jobs come in as predicted and the unemployment rate did not go up, Hmm?
Do you really want to know who such fuzzy math can take place and a lying Obama and his minions can claim that 5.5% is a good thing when it is not? How about a record 93,175,000 Americans are not in the Labor Force!!!
The sputtering U.S. economy created just 126,000 jobs in March as bad weather, weak consumer spending and flailing corporate profits resulted in the worst report since December 2013.
Economists expected nonfarm payrolls to rise 245,000 in March, with the unemployment rate holding steady at 5.5 percent, according to Reuters. February’s numbers were revised lower to 264,000 from the initially reported 295,000, while January’s number fell from 239,000 to 201,000.
The total fell well short of the 269,000 average over the past year and was the first time in 14 months that the number dropped below 200,000.
However, the overall unemployment rate held steady at 5.5 percent, as a generational low in labor force participation helps keep the figure low. A separate gauge that includes those who have stopped looking for work as well those employed part-time for economic reasons—the underemployed—edged lower from 11 percent to 10.9 percent.
More Americans dropped out of the labor force last month, as the number of people not in the labor force hit another record high in March.
According to Friday’s Bureau of Labor Statics jobs data 93,175,000 Americans were not in the work force in March, an addition of 277,000 to February’s level of 92,898,000.
The BLS defines people not in the labor force as people ages 16 and older who are neither employed nor have they “made specific efforts to find employment sometime during the 4-week period ending with the reference week.”
The work force decline also corresponded with a drop in the labor force participation rate, wherein March’s rate of 62.7 percent matched earlier lows seen September and December 2014 but not seen before since in 1978. February’s participation rate was 62.8 percent.
OBAMA VETOES US JOBS …
Barack Obama vetoes the Keystone XL Pipeline bill. The bill was passed by a bipartisan vote in both the House and the Senate; however, Obama is driven by his far LEFT agenda and seems to care more about that than providing jobs that pay more to American workers than minimum wage. Following the shellacking that Democrats took in the 2014 elections, Obama called for cooperation and for Democrats and Republicans to work together. We all knew it was BS at the time, but it sounded good from a president who had just lost the Senate. Since then Obama has done nothing to strengthen his words of cooperation, but instead has engaged in confrontation. The veto of the Keystone XL Pipeline bill, going against the will of the people and their elected representatives, is just the latest in Obama’s actions that go along with his “imperial’ far LEFT agenda of its my way or the highway.
Obama said following his veto, “The presidential power to veto legislation is one I take seriously. But I also take seriously my responsibility to the American people.” REALLY, WHO KNEW? Exactly how is Obama taking his responsibility to the American people when the American people are in favor of the Keystone Pipeline? Critics of the bill say will cause environmental damage. Hmm, you mean like the one below in how oil is currently transported in the United States.
I guess Obama would rather have train accidents occur, like the one recently in West Virginia, that resulted in a fiery explosion. Guess what the train was carrying … that’s right, crude oil. The train, which was carrying North Dakota crude to an oil depot in Yorktown, Virginia, derailed in a small town 33 miles southeast of Charleston, causing 20 tank cars to catch fire. The environmentalist wackos seem to be rather quiet. Obama cares nothing about the people, he cares about his far left agenda.
Amid appeals for bipartisanship, President Barack Obama in just three days has provoked Republicans on issues as disparate as immigration, Wall Street and the Keystone XL pipeline — a combative mix of defense and offense that underscores Washington’s political realignment.
Sensing a Republican retreat, Obama is headlining a Miami town hall on Wednesday, enlisting his Latino base of support to increase pressure on GOP lawmakers who want to tie spending on the Homeland Security Department to repeal of his immigration executive actions.
On Tuesday, he vetoed GOP legislation that would have forced construction of the Keystone XL oil pipeline. And on Monday he proposed tougher rules on financial brokers who help manage retirement accounts, over Wall Street objections.
You have heard of “cash for clunkers, now comes … “Jobs for Jihadis”. Check out the below video of Dana Loesch mocking the Obama White House and State Department spokesperson Marie Harf’s comments that it is because ISIS lacks jobs and opportunities as to the reason why they are terrorists and barbarically slaughter Christians in the Middle East … #Jobs for Jihadis. However, wouldn’t one of the issues be that the Jihadis would not be interest in Obama’s “green” job agenda, the radical Islamists are more interested in blood “red” ones.
Watch and enjoy … remember when SNL used to have sarcastic humor of real life events like this? I wonder if this humor is too nuanced for State Department spokesperson Marie Harf?
Gallup CEO Jim Clifton … The Official Obama 5.6% Unemployment Rate Amounts to a Big Lie … Tells CNBC He Might “Suddenly Disappear” for Telling the Truth About Unemployment Lie
Well, if Gallup CEO suddenly disappears we will know why …
Gallup CEO Jim Clifton says during an interview with CNBC that he is worried he might “suddenly disappear” and not make it home that evening if he disputed the accuracy of what the U.S. government is reporting as unemployed Americans. How sad is it that many would not put it past the Obama administration to actually retaliate against an American citizen for speaking the truth?
The CNBC interview came one day after Clifton had penned a gutsy opinion piece on Gallup’s web site, defiantly calling the government’s 5.6 percent unemployment figure “The Big Lie” in the article’s headline. His appearance on CNBC was apparently to walk back the “lie” part of the title and reframe the jobs data as just hopelessly deceptive.
Clifton stated the following on CNBC:
“I think that the number that comes out of BLS [Bureau of Labor Statistics] and the Department of Labor is very, very accurate. I need to make that very, very clear so that I don’t suddenly disappear. I need to make it home tonight.”
But after making that opening comment in case he suddenly goes missing, Jim Clifton went on to eviscerate the legitimacy of the cheerful spin given to the unemployment data by the Obama White House and liberal MSMS, stating to CNBC viewers that the percent of full time jobs in this country as a percent of the adult population “is the worst it’s been in 30 years.” Otherwise known as Obama’s Big Lie. Then again, hasn’t the entire Barack Obama presidency been one big lie and scandal after another?
Gallup CEO: 13 Million Jobs Lost – Only 3 Million Created Under Obama
Jim Clifton, Gallup CEO – The Big Lie: 5.6% Unemployment:
Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheer-leading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news — currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.
There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.
Senate Passes Bill Approving Keystone XL Pipeline … Obama Has Vowed to Veto the Bill that Would Provide Jobs to Thousands of Americans
SENATE PASSES BILL APPROVING THE KEYSTONE XL PIPELINE.
On Thursday, the US Senate voted 62-36 passing a bill approving the construction of the XL Keystone pipeline. The House of Representatives passed a similar bill on January 9, for the 10th time. However, since the Senate bill has been amended, the two chambers will have to agree on one version before the bill goes to the president. Barack Obama has already threatened to veto the bill. The bill passed the Senate it a bi-partisan vote; as Democrats like Bennet (D-CO), Carper (D-DE), Casey (D-PA), Donnelly (D-IN), Heitkamp (D-ND), Manchin (D-WV), Tester (D-MT), McCaskill (D-MO) and Warner (D-VA) all voted for the bill that would provide jobs for Americans.
The Senate voted Thursday to build the controversial Keystone XL pipeline, despite a long-standing veto threat from the White House.
After three weeks of debate on 41 amendments, the Senate voted 62-36 to pass a bill approving the north-south pipeline for Canadian oil that Republicans say will create thousands of U.S. jobs. The tally was short of the 67 votes the Senate would need to override a presidential veto.
Nine Democrats joined a unanimous Republican caucus to support the bill: Sens. Michael Bennet of Colorado, Tom Carper of Delaware, Bob Casey of Pennsylvania, Joe Donnelly of Indiana, Heidi Heitkamp of North Dakota, Joe Manchin of West Virginia, Claire McCaskill of Missouri, Jon Tester of Montana and Mark Warner of Virginia.
Thursday morning, Senate Majority Leader Mitch McConnell, R-Ky., urged his colleagues to pass the measure. “Constructing Keystone would pump billions into our economy. It would support thousands of good American jobs,” he said. “And as the president’s own State Department has indicated, it would do this with minimal environmental impact.”
McConnell said the conclusion of myriad studies is: “We need to build it.”