1 Unexpectedly!

2 1 Unexpectedly!

and Unprecedented.

3 I still can't get over the fact that the useful idiots consider this "Keynesian." Setting a freshly printed pile of cash on fire isn't "infrastructure spending," it's just morons-on-parade.

4 ARE YOU NOT STIMULATED!?

5 oh-joy!

6

Wholesale inventories were down in December after going up the previous months.

2009 was just like 1977. Stagflation, here we come. Combine this with teh ghey issues, and Let's Do The Time Warp Again.

7

Is it really a double dip if it's one smooth downward slope?

 

8 2009 was just like 1977.

We've even got an ice age on the way.

9 troubling sign that companies are still too pessimistic about the economy

Maybe if Barry threatens even more taxes and Govt spending their pessimism will go away and the recession will end.

 /sarc

10 From now on I'm going to expect the unexpected.

11 2009 was just like 1977

Does that mean I get to take my senior year in High School again?

12 From now on I'm going to expect the unexpected.

Shit.

13

Completely off topic.

Several months ago a commenter on Atlas Shrugged reported that he had picked up a White House cookie (www.whitehouse.gov) from Atlas’s site, and from Politico. I did a search of my drive and found it as well. I removed it, but the sneakiness of our CinC’s administration was obvious.

I have checked periodically since then and found the same cookie, apparently from some other site, since I no longer pick it up from either of the original sites, quietly stashed on my computer in my flash player files. I found another one (two, actually) today.

I am picking it up from somewhere, and it is probably on someone’s conservative blog, since I don’t go to the liberal ones. I advise people to do a search of your C drive for http://www.whitehouse.gov . Apparently someone in the White House wants to keep track of those who visit these sites.

14 there is a recession???

15

BTW--Germans agree to help Greece "in principle."

I'm certain that means the Greeks will have to cut up their credit cards and go on an austerity budget...which they will not actually do.

Demise of the Euro by June 2011?  Probably....

16 The beatings taxing and spending will continue until moral the economy improves!

17 I'm Baaaaaack!!

18 We need better expectors.

19 This kind of double dip is not good for the ball-and-pudding cup market.

20 ARE YOU NOT STIMULATED!?

I AM!!!!

21 I'm Baaaaaack!!

Posted by: The Misery Index at February 09, 2010 12:14 PM (YMZjg)

Thanks Barry. I thought I'd be the worst president forever. But you really came through.

22 We're going to need some more czars.

23 I'm so totally shocked. After all, communists have such an admirable economic record over the past century.

24

hahahahaha

Just wait for the inevitable recalculation of the unemployment numbers and GDP. But Piss Wallace says Obama deserves "credit" for the 4th quarter GDP!

25 We need better expectors.

Posted by: Techie at February 09, 2010 12:15 PM (zbH+i)

Hey, you find someone that can read the White House's memos better then us. I DARE you!

26

Thanks Barry. I thought I'd be the worst president forever. But you really came through.

You know, Jimmuh Carturd, while marinated in the failed New Deal / Great Society policies, at least did not have the arrogance the Obamunist does.

27 This is mostly due to Tea Baggers, fucking retards, and M&M's - not necessarily in that order.

28

But Piss Wallace says Obama deserves "credit" for the 4th quarter GDP!

And this quarter falling off a cliff will be Bush's fault ;->

29

Just wait for the inevitable recalculation of the unemployment numbers and GDP. But Piss Wallace says Obama deserves "credit" for the 4th quarter GDP!

Posted by: Vic at February 09, 2010 12:18 PM (QrA9E)

But verily, all that is good comes from Obama, and all that is bad comes from Bush, and that is all ye need know.

30 Anyone expect large victories for the Communist Party in Greece after the next elections over there?

Anyone want to bet the news over there is much worse than actually being reported?

In related news, wholesale inventories of miniature Acropolises, toy bouzouki and porcelain Greek dancers were sharply slashed last December, in Athens.

31 Here I come to save the day!

32 I noticed that the front page of the NYT actually mentioned today that THE REPULBICANS DO HAVE HEALTHCARE IDEAS. The article referred to the GOP offering "a modest extension of the safety net."

(I don't buy the NYC, but will read it if left in the cafe where I get coffee when lazy).

If the GOP sells out to any extent on healthcare, I am changing my registration to independent.

33 When's Obammy's promised "hard pivot on jobs" supposed to come anyway? I thought it was the end of January, but maybe that kind of tight schedule was interfering with his golf game.

Not that I think he knows the first thing about how to help an economy get moving anyway.

34

You know, Jimmuh Carturd, while marinated in the failed New Deal / Great Society policies, at least did not have the arrogance the Obamunist does.

Posted by: Curmudgeon at February 09, 2010 12:19 PM (ujg0T)

I guess you never heard me talk about how my initials are J.C. for a reason, huh? But yeah, even I don't have an ego as big as the Won.

35 But Piss Wallace says Obama deserves "credit" for the 4th quarter GDP!

That means that from now on, Obambi OWNS this.  (can't stop laughing)

36 Piss Wallace is really turning into his father. As the saying goes, from the Old Moron's Book of Aphorisms, "Shit don't fall far from the ass."

37 When's Obammy's promised "hard pivot on jobs" supposed to come anyway? I thought it was the end of January, but maybe that kind of tight schedule was interfering with his golf game.

Not that I think he knows the first thing about how to help an economy get moving anyway.

Posted by: Waterhouse at February 09, 2010 12:21 PM (ySQoK)

I'm hiring people in DC as fast as I can, what more do you want?

38 Uh, something tells me it will take a meltdown of Italy to kill the Euro; Greece is too small.

39 I just noticed the "recent comments" sidebar is all spam.

40 Uh, something tells me it will take a meltdown of Italy to kill the Euro; Greece is too small.

Posted by: ParisParamus at February 09, 2010 12:23 PM (bN5ZU)

Hey, are we chopped liver?

41 In what universe did Bob Marley write "Don't Worry Be Happy"?

42

This just reaffirms my faith in business sense of which this administration has none.

"Capitalism is evil and greedy," libs will cry. No, capitalism just isn't suicidal.

43 Some of us remember when Italy was chopping three zeros off their Lira on a fairly regular basis.

44

Never fear! Of the charts sales of new fuel efficient Government Motors (look for the union label) scrap incredacars will fuel the economy to new, never before seen, heights!

45 13

Several months ago a commenter on Atlas Shrugged reported that he had picked up a White House cookie . . .

Posted by: Nancy

I checked my harddrive and all I found were some leftover scraps of grizzle off a Wagyu steak and A-1 sauce droppings.  But mostly A-1 sauce droppings.

46 Yeah, Greece could collapse, and even Portugal but until one of the big boys like Italy or the Dutch bail on the Euro, it's here to stay.

47 In what universe did Bob Marley write "Don't Worry Be Happy"?

Posted by: Waterhouse at February 09, 2010 12:25 PM (ySQoK)

Uh, just light one up, and uh, mello, and you'll, uh, get it.

Not that, uh, I would know anything, uh, about that.

48 It will be interesting to listen to the Greek Communists rail against the fiscally conservative Germans.

49 Here I come to save the day!

Posted by: Mighty VAT at February 09, 2010 12:20 PM (Q41Zh)

Step1: Tax Everything

Step2: ???

Step3: Profit!

50 Some of us remember when Italy was chopping three zeros off their Lira on a fairly regular basis.

Absolutely. But look, we're printing money like it's parking lot flyers for liposuction, and we can keep it up for some time. Until serious inflation hits, it's no sleep for the printing presses.

In related news, last December Italy sharply slashed inventories of mint green Vespas, espresso machines, and loud hectoring Italian relatives.

51 Now I remember why I hate literary journalists.

Bernard Henri-Levy quotes fake philosopher who described Kant better than Kant.

http://is.gd/81tl0

52 last December Italy sharply slashed inventories of mint green Vespas

Hipsters hardest hit.

53 I just noticed the "recent comments" sidebar is all spam.
Posted by: ol_dirty

Any post older than 6 months has spam on it. All of them. I've never figured why Pixy just doesn't close threads older than a month.

54 Maybe if AP started reading various blogs of non-kissing Barry's ass economists  they would have seen this coming.

I'm no economist so I don't really understand this -- It was a big slowdown in the pace of inventory reductions that contributed nearly two-thirds of the growth in the overall economy in the fourth quarter as measured by the gross domestic product.

But I did see it coming because of my various time wasting, errr, every day internet reading endeavors.  Good to know I'm more informed than the AP.

55

StratFor has also sat up and taken heed. (Link on name.) Congratulations, Greeks; you're a German protectorate again.

56 The mess in Greece is exactly why Sweden and the UK decided to keep their own currency, not just adopt the Euro. 

57 I'm no economist so I don't really understand this -- It was a big slowdown in the pace of inventory reductions that contributed nearly two-thirds of the growth

I presume it is on account of businesses keeping inventories higher that quarter... in other words, they bought more inventory to replenish stocks. Yes?

58 #50, hey, since they don't use it anymore, maybe we can rename our currency the Lira, or maybe the Lirar or maybe LIAR.

59 Hey ParisP, what was your favorite place in Paris while you were there?

60

It was a big slowdown in the pace of inventory reductions that contributed nearly two-thirds of the growth

Really, the economists who calculate the GDP are just making it up now. In the third quarter companies reduced their inventories by $150 billion and in the fourth quarter they reduced their inventories by $39 billion. Somehow, even though companies reduced their inventories it is still scored as "growth".

There is some correlation between restocking and recovery as shown on the Calculated Risk website. But I haven't seen any data that shows if this restock is net positive or a slowdown in reduction. Also it is typical for companies to increase inventories in October and November for Christmas (4th qtr. 2008 saw restocking too, but nobody says that was indicating recovery) so is this data seasonally adjusted?

61 Maybe if Barry threatens even more taxes and Govt spending their pessimism will go away and the recession will end.

The beatings will continue until morale improves.

62
@60
Well, this just testifies to the poor quality of journalism, even financial journalism. The only thing we know for certain is that the news is "unexpected!"

63

So when wholesale inventories stopped going down, our government geniuses didn't stop to think that it might be because people stopped buying retail?

64 Nancy--

If you use a Mac, you should get Cookie Manager. You can set it to delete cookies you don't want when you close the browser. You can select permanent cookies for sites with forms, etc. that you use frequently and blast all the unwanted ones at the end of the session.

65 I was listening to the Diane Reems show on NPR last night (I know, I MUST be a sadist..)  and everyone kept blaming the companies for not hiring.  what?  hello?  Do they really think things are better now?  Do they?  REALLY?

NPR  "Hey asshole!  Why aren't you hiring?!"

Business owner  "I haven't the money to PAY for more employees!"

NPR - "NAZI!"

66 Wow!  Another UNEXPECTED result!  Hey, let's talk about 'green shoots'.

67
"We need better expectors."

Or people better at expectoration.

68

hahahahaha

Just wait for the inevitable recalculation of the unemployment numbers and GDP.

You know, I don't ever remember any unemployment/ GDP numbers having to be recalculated during the Bush era. Or any other one.

I mean, what has Captain Awesome done, hired retarded (ooh! banned word!) economists and such to do these calculations?

69 I kinda expect more bad news soon. After artificially giving folks more take home pay by tinkering with withholding, the piper must be paid by April 15th. How will consumers come up with the money? By continuing a mini-spending frenzy?

I.Don't.Think.So.

70 Here is what this admin has done:

They bought a car they couldn't afford in the first place (Stimulus).  They took in in the ass from the finance company on interest (China).  The crashed the fucking thing (demolished economy) and now they are trying to sell the parts (tax everything that fucking moves) to pay for the loan.

This Presidency needs to be REPO'D by the American people.

71 I guess we'll be continuing to work a shitload of overtime........

72 62
Well, this just testifies to the poor quality of journalism, even financial journalism. The only thing we know for certain is that the news is "unexpected!"

not to mention "unprecedented"!

73

MelodicMetal 70, careful with those metaphors. I now have the image of being raped in the ass while I'm trying to drive a stolen car over a bridge.

Or, as it's known in the Kennedy compound, "Saturday night"

74 You know, if there was some one in this administration who had experience running a business, they would be able to tell Teh Won and his economic advisors that uncertainty about the future is the key reason prudent businesses stop investing capital. The human instinct is to batton down the hatches, weather the storm of uncertainty. Businesses are afraid of new taxes in what ever form they will take. Until they know what the landscape looks like, they will stay in survival mode.

The President's job is to instill confidence in America. If Americans are not confident in America, the rest of the world will not be confident in America. The other part of the President's job is to advocate for economic policies that promote business activity and that comes back to confidence. Business Activity = Jobs; Jobs = Payroll Tax Revenue.

Making small business people feel like they will be attacked financially if they grow will not induce small businesses to grow. A $5000 tax credit for hiring a new employee will not induce me to hire. I'll keep my capital in the bank and still end up better off. How about a $5000 tax credit for each employee retained? that would really help small businesses.

Come on, Mr. President! Get your head in the game!

75 Media angle: "Another bump in the on-going recovery"

76 Teh Won was just on my TV,  answering a few questions in the press room.

When asked about small business and uncertainty,  he first said that the biggest problem he heard from small business was the lack of credit.

And then,  after stammering around a while (as he always does when asked questions involving business and/or numbers,  which are "hard"), he informed us that there are actually TWO definitions of uncertainty.  HE thinks that small businesses are uncertain that Washington can get its act together and pass some of these big programs, and until they DO pass these things (health care, cap and trade, etc.) then business won't expand.

Based on that answer, individual morons and moronettes can decide whether he is crazy, totally inept, or evil.  I choose all three.

77 When asked about small business and uncertainty,  he first said that the biggest problem he heard from small business was the lack of credit.

LOL, Megyn just did a story on this "mystery billboard". It was paid for by an anonymous group of small businesses.

78

He probably can't understand why business owners don't take loans, give themselves huge salaries, and crash the business.

It's what he'd do.

79 Schadenfreude, Part Deux:  We are totally Screwed but those Europeans are totally Screwed much worse than we are--and it will get much more totally Screwed for them because they're, well.........European

Europe has been the Other Shoe since last Fall, waiting to drop. 

80 1977 at least had Star Wars to get us through it all. Now can be count on Star Wars for anything?

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