Gloom: Q1 GDP final at 1.9%, jobless claims rise fall to 386K

posted at 2:01 pm on June 28, 2012 by Ed Morrissey

Two big economic indicators got released by the government today, including the final estimate of gross domestic product in Q1 of this year.  The annualized GDP rate remained unchanged from the second (interim) estimate at 1.9%, well below 2011Q4′s 3.0%:

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.9 percent in the first quarter of 2012 (that is, from the fourth quarter to the first quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 3.0 percent.

The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was also 1.9 percent.

The good news?  That’s almost all actual sales and not inventory adjustments.  Real final sales of domestic product rose 1.8%, meaning that inventory additions only account for 0.1% of the overall GDP increase for the quarter.  That should put the US economy in better position than previous quarters, but that will only help if demand returns.

The other indicator out today, initial jobless claims, doesn’t exactly point to a robust demand in Q2, though:

In the week ending June 23, the advance figure for seasonally adjusted initial claims was 386,000, a decrease of 6,000 from the previous week’s revised figure of 392,000. The 4-week moving average was 386,750, a decrease of 750 from the previous week’s revised average of 387,500.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending June 16, unchanged from the prior week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending June 16 was 3,296,000, a decrease of 15,000 from the preceding week’s revised level of 3,311,000. The 4-week moving average was 3,306,000, an increase of 9,250 from the preceding week’s revised average of 3,296,750.

Last week’s announced level of claims was 387,000, not 392,000, as the DoL upwardly revised its estimate for the 69th week out of 70, or 70th out of 71; I’ve actually lost count.  Suffice it to say that if these were coin flips in BCS overtime games and they consistently favored the home team, Orrin Hatch would be calling for Senate hearings on the subject.  Anyway, this isn’t much of a change at all, keeping jobless claims at the same slightly elevated level we’ve seen over the last six or seven weeks from earlier in the year.  That does not bode well for next week’s jobs report for June, which means that Barack Obama might have another media debacle on his hands.

Reuters takes an uncharacteristically gloomy view of the latest data:

The U.S. economy slowed as expected in the first quarter, but a less robust pace of consumer spending and export growth than previously estimated could dampen the economic outlook for the current period.

In separate reports, jobless claims for the week edged lower and a gauge of prices rose more than expected. …

Consumer spending, which accounts for about 70 percent of U.S. economic activity, increased at a 2.5 percent rate in first quarter, rather than the previously reported 2.7 percent pace.

There are signs that consumer spending slowed in the second quarter, with retail sales falling in April and May.

Business inventories increased $54.4 billion, instead of $57.7 billion, adding only 0.10 percentage point to GDP growth compared with 0.21 percentage point in the previous estimate.

Politically speaking, this plays into Mitt Romney’s hands and makes Obama’s path to re-election more difficult.  There seems to be little reason to believe that the economy will suddenly improve this summer, and with consumer confidence eroding quickly, we may find ourselves in a new recession by the time Election Day arrives.  Still, as I write in my column for The Fiscal Times, Romney has to be careful about how he approaches the economy on the campaign trail — and has only to recall what happened to another presidential challenger from Massachusetts as a reminder:

Still, Romney has to take care not to overshoot the message. John Kerry tried running against the economy in 2004 by painting it as a “jobless recovery,” only to have the rug pulled out from under him as jobs returned in massive numbers throughout the year. The fundamentals of that recovery were much stronger than today’s, so it’s unlikely at this point that a turnaround could arrive in time to transform the economy from a liability to an asset for Obama as happened to Bush in his re-election effort.

Romney also has to take care to avoid being painted as cheering for misery. In order to do so, he needs to point out the overall direction of economic indicators and explain how his policies would produce better results, a skill which Romney has displayed consistently this year.

While we may not know what the economy will look like exactly on Election Day, most voters will have made up their mind about it by Labor Day. Obama has that much time to hope for a miracle, while Romney has that much time to explain why it won’t come until after voters change America’s political leadership, starting at the top.

That second point is key.  Americans want America to succeed, including (and maybe especially) conservatives, no matter who’s in charge at the moment.  We point out the economic data not to take delight in failure, but to point it out so that failed economic approaches get discarded and pro-growth policies adopted.  If Obama had done that, we’d be cheering a real economic recovery at this point, not saying I told you so as the failures mount.  That’s what Romney has to communicate on the campaign trail — and he has to be ready to respond if the news turns more positive by pointing out how that can be accelerated by better policy.


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…who cares today?

KOOLAID2 on June 28, 2012 at 2:03 PM

What will the Moby MSM say?

KOOLAID2 on June 28, 2012 at 2:04 PM

It’s the economy, stupid!

Gotta get the slaves back to work so they can pay their taxes to insurance cooperations.

I can’t do this by myself.

Electrongod on June 28, 2012 at 2:05 PM

…BENDOVER…sorry…it’s FORWARD…I forgot!

KOOLAID2 on June 28, 2012 at 2:05 PM

1.9% could look like the good old days a couple of months from now. I can’t see one sane business owner doing anything other than pulling back knowing that any economic growth now only helps the narrative of the oppressors.

Gingotts on June 28, 2012 at 2:06 PM

Winning.
 
inthemiddle on June 28, 2012 at 10:35 AM

rogerb on June 28, 2012 at 2:06 PM

I suppose some morons on here say that this news will boost Obama’s chances at reelection like the healthcare ruling.

The Notorious G.O.P on June 28, 2012 at 2:07 PM

…haven’t done this for a day or three…..
.
.
.
.
…it’s the ECONOMY stupid…!!!

KOOLAID2 on June 28, 2012 at 2:07 PM

Now’s not the day for ‘Mitt must be careful, mustn’t step on any toes’ advice. He’s gotta tell voters the truth, and the fact is Obama is a miserable failure to the point where his own vice president is calling it a depression. To hell with whether or not the MSM will accuse him of embracing misery or whatever…Obama’s already done that through his policies.

changer1701 on June 28, 2012 at 2:07 PM

After today, does anyone want to predict with confidence that anything is guaranteed to send Soetoro back home to Indonesia Hawaii Chicago?

Enough with the confident assertions that a “Chia pet could beat Obama”. Defeating him and turning back Obamacare is going to require hard work.

MidniteRambler on June 28, 2012 at 2:08 PM

Who cares, we have OTax now!

JPeterman on June 28, 2012 at 2:09 PM

Pass a “don’t have a job” tax. – John Roberts

lorien1973 on June 28, 2012 at 2:10 PM

Yeah well that’s just statistical noise, those indicators will really light up once the mandate ruling percolates through the markets.

abobo on June 28, 2012 at 2:10 PM

The number will spike over the next couple of months as employers will lay off more people due to the Otax.

Oil Can on June 28, 2012 at 2:10 PM

Obama is toast. The healthcare ruling today assures that even more. Romney will need to be careful, after the election. He’s not popular. He’s simply not Obama.

rickv404 on June 28, 2012 at 2:11 PM

I don’t care how the economy is doing. I want it to fail. Freedom is more important to me than money, and any Democrat in the white house is a threat to my freedom. Luckily, they don’t know how to run an economy because they only care about poor people, yet they still win too many elections for my liking.

mboyle1988 on June 28, 2012 at 2:12 PM

Meanwhile Pelosi is planning a party celebrating the largest tax increase in American history.

midgeorgian on June 28, 2012 at 2:12 PM

The Titanic is sinking and there aren’t any lifeboats.

MelonCollie on June 28, 2012 at 2:13 PM

Romney has to be careful about how he approaches the economy on the campaign trail —

It’s the economy health care tax, stupid!

LtGenRob on June 28, 2012 at 2:15 PM

biggest tax increase in history today and democrats are partying like its 2008.

burserker on June 28, 2012 at 2:16 PM

I don’t care how the economy is doing. I want it to fail. Freedom is more important to me than money, and any Democrat in the white house is a threat to my freedom. Luckily, they don’t know how to run an economy because they only care about poor people, yet they still win too many elections for my liking.

mboyle1988 on June 28, 2012 at 2:12 PM

Democrats don’t care about poor people. Hence the tax that was reaffirmed by the court today.

Gingotts on June 28, 2012 at 2:16 PM

There seems to be little reason to believe that the economy will suddenly improve this summer, and with consumer confidence eroding quickly, we may find ourselves in a new recession by the time Election Day arrives.

Given the SCOTUS decision today, small companies – what we’re told are the backbone of the economy – now have a guaranteed reason to stay small and hold their employee numbers under the magic 50.

GarandFan on June 28, 2012 at 2:19 PM

newspeak

bgibbs1000 on June 28, 2012 at 2:20 PM

Ed, you are turning into a real candyass RINO.

kevinkristy on June 28, 2012 at 2:20 PM

Americans want America to succeed, including (and maybe especially) conservatives, no matter who’s in charge at the moment.

Hahahahahaha!

tommyhawk on June 28, 2012 at 2:20 PM

Democrats don’t care about poor people. Hence the tax that was reaffirmed by the court today.

Gingotts on June 28, 2012 at 2:16 PM

You think poor people are going to pay this tax? They aren’t. They are getting the healthcare for free.

oceansidecon on June 28, 2012 at 2:21 PM

I know a way to help the economy…

SWalker on June 28, 2012 at 2:16 PM

..after Obama was elected, ammunition and firearms flew off the shelves at gun stores, you had to wait for ONE HOUR in line to get into gun shows (our here in SoCal), and Ruger stock went through the roof.

By the way, SW, I got me a new toy and the Feds nor the state of California do not consider it a firearm. You can order it and they will send it to you directly ~~ not to an FFL.

The War Planner on June 28, 2012 at 2:21 PM

The ObamaTax will break our backs.

SparkPlug on June 28, 2012 at 2:21 PM

And another solar company that got stimulus money goes bankrupt today. Of course, this won’t be covered now.

http://www.bloomberg.com/news/2012-06-28/abound-solar-to-close-as-early-as-today-greentech-media-says.html

MrX on June 28, 2012 at 2:21 PM

Ed -

I disagree with the cautionary tale to Romney.

The “its Bush’s fault” continues to resonate as a desperate measure of failure from Obama and his minions. Failure is a feature, not a bug to Obama in this instance.

Romney needs to hammer failure at every corner, including the gift called todays ruling.

You dont win elections on “its ok, but I’ll be great” myopia – and Kerry had more problems than the job attack, namely the optics you mentioned – but more importantly – success was in play regardless of what he said.

Bush won with more electorates than in 2000 due to performance and people in the polls recognizing that successful performance.

See Carter in 1980 if you want to talk about malaise.

Odie1941 on June 28, 2012 at 2:22 PM

Say, doesn’t unemployment affect everyone?

rogerb on June 28, 2012 at 2:22 PM

By the way, SW, I got me a new toy and the Feds nor the state of California do not consider it a firearm. You can order it and they will send it to you directly ~~ not to an FFL.

The War Planner on June 28, 2012 at 2:21 PM

Nice! Looks like a nice addition to my arsenal.

oceansidecon on June 28, 2012 at 2:23 PM

By the way, SW, I got me a new toy and the Feds nor the state of California do not consider it a firearm. You can order it and they will send it to you directly ~~ not to an FFL.

The War Planner on June 28, 2012 at 2:21 PM

How is that possible?

SWalker on June 28, 2012 at 2:24 PM

After today, I don’t think this election can just be about the economy anymore. I think Romney knows that, and I think he may be able to explain the link between Obamacare and the economy to voters.

Waggoner on June 28, 2012 at 2:24 PM

Orwell is smiling.

jukin3 on June 28, 2012 at 2:25 PM

Given the SCOTUS decision today, small companies – what we’re told are the backbone of the economy – now have a guaranteed reason to stay small and hold their employee numbers under the magic 50.

GarandFan on June 28, 2012 at 2:19 PM

..the uncertainty remains, the tax burden has grown more onerous, and folks are predicting NEGATIVE job creation for the coming months. The SCOTUS decision just served up a huge sh|tburger for businesses. Only, the folks who will end up eating it are us unless we clean house and kick this frotzing Nancy metro-sexual hatchet-asssed POTUS and his crook regime out in the streets.

NOVEMBER 6TH: OUR TURN!

The War Planner on June 28, 2012 at 2:26 PM

the Affordable Tax Act must be funded….

Obama…we need a 4% unemployment…STAT!
No wait…

Zero.

Electrongod on June 28, 2012 at 2:27 PM

Obama’s failures are a real and ongoing tragedy for millions of Americans.

It’s sad how this bumbling, unqualified, unthinking incompetent was foisted upon the rest of us by misinformed voters.

Elections have consequences.

NoDonkey on June 28, 2012 at 2:29 PM

How is that possible?

SWalker on June 28, 2012 at 2:24 PM

..send me a PM and I will explain it. Don’t want to tie up the thread.

thewarplanner at gmail.

The War Planner on June 28, 2012 at 2:29 PM

Not a big deal, and it looks like the economy will head down a middle path that will favor Obama.
We’ve got a lot of gloaters who seem to think the sky is falling for O, despite the polls, with today’s 2 trackers, Gallup has O up 3, in Rasmussen it’s tied: http://www.realclearpolitics.com/epolls/latest_polls/
There will be some up and downs, but O will play the October Surprise card, and just like we lost today with the scotus, we lose in November, and few are surprised. “In retrospect…” people will say.
Don’t heed D Morris!
To those that advise Romneey to 1) not viciously attack Obama, and 2) to not show conservative ideological backbone, to cater to the “median voter theory,” STOP IT.
Romney must show that he is a person of character and strength and most of all, a strong ideology (see my blog for why [on Fiorina, but it could be Mitt just as easily], click anotherJoe below). Time is running out. And Romney must start attacking Obama with brutal fierceness, forget being categorized as a negative campaigner, that matters little. Start playing the FEAR card! Bad things will happen if O wins again, it’s true. Make a huge deal out of it.
This election is not about the economy. Voters know that. Quit the pretense! Or lose!

anotherJoe on June 28, 2012 at 2:30 PM

You think poor people are going to pay this tax? They aren’t. They are getting the healthcare for free.

oceansidecon on June 28, 2012 at 2:21 PM

Nothing is received for free. We are all paying this tax. Poor, wealthy, and what remains of a middle class. The poor also get the guarantee that they will remain poor.

Gingotts on June 28, 2012 at 2:30 PM

Any bets that next weeks “revised number” will also be UPWARDS?

GarandFan on June 28, 2012 at 2:31 PM

Last week’s announced level of claims was 387,000, not 392,000, as the DoL upwardly revised its estimate for the 69th week out of 70, or 70th out of 71; I’ve actually lost count. Suffice it to say that if these were coin flips in BCS overtime games and they consistently favored the home team, Orrin Hatch would be calling for Senate hearings on the subject.

I can’t remember either, but Chris of Rights notes it has now been a full year since there has not been an upward revision in the initial jobless claims numbers.

As for the GDP news, prepare for stagflation, as the inflation measures rose from the second estimate. The price index for personal consumption expenditures was adjusted up from 2.4% (2.3% ex-food/energy) to 2.6% (2.4% ex-food/energy).

Steve Eggleston on June 28, 2012 at 2:33 PM

Does anyone honestly think that today’s news is going to help turn around the economy by November? Employers were waiting to see the outcome of this case and now they will be voting with their pocketbooks. The filthy lying coward in the White House may have won the battle but he has yet to win a second term.

Obama and any of his supporters are the enemy. They want to take our freedoms, our childrens’ opportunity, our nation. We must not allow that to happen.

Happy Nomad on June 28, 2012 at 2:33 PM

There is a way for Romney to point out the bad economy while championing for a better one. There are pockets of the US economy that is recovering and doing quite well. The states that are doing well are the ones led by Republican governors and legislature. The ones doing badly are led by all Democrats.

Romney should highlight this saying there is a path to a brighter future, and these examples by Republican states are the beacons to follow.

Reagan did the same kind of message but didn’t point out states, rather he said we can do better, because we are Americans, and we don’t give up. Reagan gave that positive message while criticizing those holding us back, saying “Government isn’t the solution to our problems, it IS the problem.”

Romney now has two huge issues to which to bludgeoned Obama and Democrats with. If the GOP will use a pair of cahonies, they will win a large majority. It is up to us to instill in them a backbone after the election and do what’s right.

Ronaldusmax on June 28, 2012 at 2:35 PM

“Freedom is never more than one generation away from extinction.”

Our generation just failed.

Electrongod on June 28, 2012 at 2:36 PM

No jobs! No future! No hope! But at least these unemployed will have inferior, most costly health care thanks to BENEDICT ROBERTS!

MaiDee on June 28, 2012 at 2:37 PM

..send me a PM and I will explain it. Don’t want to tie up the thread.

thewarplanner at gmail.

The War Planner on June 28, 2012 at 2:29 PM

Done, thanks…

SWalker on June 28, 2012 at 2:37 PM

..send me a PM and I will explain it. Don’t want to tie up the thread.

thewarplanner at gmail.

The War Planner on June 28, 2012 at 2:29 PM

Done, thanks…

SWalker on June 28, 2012 at 2:37 PM

Oh, and on the wish list… ;)

SWalker on June 28, 2012 at 2:38 PM

US stocks losses intensify; Dow off 170 points – @MarketWatch

Submitted 16 mins ago by editor

canopfor on June 28, 2012 at 2:40 PM

You are improving on your economic coverage efforts, Ed et al

Grade: a solid B+ … but ….

There is a lot of room for improvement – especially when it comes to playing by the other teams rules.

Stop using Democratic talking points

Telling the Truth (a la Harry Truman) is NOT rooting for misery. IF The SCOAMF and the LSM don’t like the heat; Let’s KICK them out of the kitchen.

Telling the Truth is our ONLY hope to get past the Obama LIES about Obamacare NOT being a TAX.

Enough with the Casper Milquetoast crap, it is time to:

HIGHLIGHT the numbers reported and their consistent negative revision

What the real state of the GLOBAL economy currently is – Hint: a train wreck is too positive of a metaphor

Where it is headed – Can you say abyss?

How Obama and Bernanke’s Central Planning regime have only made things worse – Trillions for the Banks, Taxes for Main Street

“Chicken” Roberts just pushed America over one cliff. It is time to remind everyone …

Come January 1st – Taxes are going up beyond all reason.

PolAgnostic on June 28, 2012 at 2:42 PM

Today’s inspiring words from conservative warrior Ed Morrissey:

..be careful

Dr. Carlo Lombardi on June 28, 2012 at 2:45 PM

The ObamaTax will break our backs.

SparkPlug on June 28, 2012 at 2:21 PM

And that is the way Romney needs to frame the ObamaTax discussion. The filthy lying coward is going to want to talk about all the “free stuff” about to come Americans’ way. Romney needs to remind the public is more expensive than free stuff from the government.

Happy Nomad on June 28, 2012 at 2:46 PM

DOOMED!

kirkill on June 28, 2012 at 2:59 PM

Hey how about we mandate er ah I mean tax people if they don’t buy stuff to help the economy?

Wigglesworth on June 28, 2012 at 3:02 PM

Obamatax sounds like a great thing to call it going forward.

Wagthatdog on June 28, 2012 at 3:05 PM

The poor also get the guarantee that they will remain poor.

Gingotts on June 28, 2012 at 2:30 PM

Which is exactly where they want to be. Healthcare, food, cell phones, housing…all without the trouble of going to a job and paying income taxes. They are as poor as they need to be to ensure the free-sh!t never stops. They wouldn’t have it any other way.

oceansidecon on June 28, 2012 at 3:23 PM

We’ll look back at 1.9% GDP growth with envy in a year or two.

Steve Eggleston on June 28, 2012 at 3:35 PM

SparkPlug on June 28, 2012 at 2:21 PM

ObamaTax will break our backs.

ObamaCare won’t fix ‘em.

Health care hacks, Death Panel pacts,

You’re outta luck! They nix ‘em.

Fallon on June 28, 2012 at 3:41 PM

I don’t care how the economy is doing. I want it to fail. Freedom is more important to me than money, and any Democrat in the white house is a threat to my freedom.

mboyle1988 on June 28, 2012 at 2:12 PM

I wish more people on the right were this honest.

Drew Lowell on June 28, 2012 at 4:20 PM

I don’t care how the economy is doing. I want it to fail. Freedom is more important to me than money, and any Democrat in the white house is a threat to my freedom.
 
mboyle1988 on June 28, 2012 at 2:12 PM

 
I wish more people on the right were this honest.
 
Drew Lowell on June 28, 2012 at 4:20 PM

 
Interestingly, the dislike and intolerance of opposing political views looks almost identical.
 
Well done.

rogerb on June 28, 2012 at 4:46 PM

Oh, and the Rs had the Senate in 1981 when O’Connor was nominated.

Steve Eggleston on June 28, 2012 at 4:49 PM

Romney also has to take care to avoid being painted as cheering for misery. In order to do so, he needs to point out the overall direction of economic indicators and explain how his policies would produce better results, a skill which Romney has displayed consistently this year.

Must have missed that.

Romney has no “clear message” on anything. He supported sort of Paul Ryans tax plan that was written as something he hoped Obama might buy into. It only cuts spending way in the future. We all know those cuts never ever happen. He also proposed making the Bush Tax Cuts permanent but removing Charitable Deductions for the top 1%.

His economic message is very muddled. I doubt it impresses anyone. It is just things a politician says to get elected. Believe them at your peril.

I will not vote for Romney because he made it clear in 2002 he was a Democrat just using our Party and he hated us. He never won office as a Proud Republican. That is enough for me. But his record was one only a Democrat could be proud of. Every issue he was a full Democrat on. He got Gay Marriage even. Great record if you are a Democrat.

He should have just been honest and run as a Democrat. But then to show me an honest Democrat. So not suprised Romney would do this to us in the most important election in our lifetimes.

So what now. Well we need to start showing some backbone and stop supporting Romney in any way. Make it clear Romney is for Obama Care or worse we are thus not for him. Make it clear we do not buy his fake conversion to being a Republican anymore. Support Conservative Republicans fully.

Steveangell on June 28, 2012 at 5:01 PM

I’ve started keeping a list of these…

May 03 – 365K revised 368K
May 10 – 367K Revised 370K (reported small drop)
May 17 – 370K Revised 372K (reported stayed flat)
May 24 – 370K Revised 373K (reported drop)
May 31 – 383K Revised 389K (reported 10K increase)
June 07 – 377K Revised 380K (MASSIVE 12k drop)
June 14 – 386K Revised 389K (reported 6K increase)
June 21 – 387K Revised 392K (reported, 2K drop)
June 28 – 386K (reports here 6K FALL)

Personally I like the past 3 weeks (2 adjustments) as an example.

June 14 – 386K Revised 389K
June 21 – 387K Revised 392K (reported, 2K drop)
June 28 – 386K (reports here 6K FALL)

386 – 2 – 6 = 386.
Simplify, 386 – 8 = 386.

And… I can’t get that answer; not even using my fingers.

gekkobear on June 28, 2012 at 5:33 PM

The Titanic is sinking and there aren’t any lifeboats.

MelonCollie on June 28, 2012 at 2:13 PM

Well, just not for the riff-Raff in steerage.

Dr. ZhivBlago on June 28, 2012 at 5:37 PM

Which is exactly where they want to be. Healthcare, food, cell phones, housing…all without the trouble of going to a job and paying income taxes. They are as poor as they need to be to ensure the free-sh!t never stops. They wouldn’t have it any other way.

oceansidecon on June 28, 2012 at 3:23 PM

Right on. I’ve often thought of some of the people I’ve known like that. I wondered why I should worry about paying taxes, putting up with crap so I can stay gainfully employed, be concerned about paying mortgage, bills, car payments and the like, wondering if I’ll have enough to retire on comfortably…

Screw it…let’s get drunk and smoke some weed! Woo-hoo!

Naw, wouldn’t want to live on the dole noway nohow…but these people have what they want. There are millions of them who are truly content to live like that. If it were all taken away tomorrow, most would be fine living on the streets and off of soup kitchens. They’re just broken and have no thought whatsoever of turning their lives around. They’re done.

Dr. ZhivBlago on June 28, 2012 at 5:43 PM

No surprises here – 1Q12 GDP re-affirmed, first time claims 4-week average holding steady. We did have good news in the housing sector this week – strong evidence now that the housing market has bottomed and is coming back, which is welcome news. Employment report next week will be interesting; while we are not expecting much, the unexpectedly good durable goods orders report this week may suggest that the slowdown is coming to an end. Meanwhile, hospital stocks soared today on the Supreme Court healthcare ruling, while some other sectors (e.g. medical devices) waned. Markets took it all in stride … all eyes on Europe. Stay bullish.

TouchdownBuddha on June 28, 2012 at 8:20 PM

If Obama had done that, we’d be cheering a real economic recovery at this point, not saying I told you so as the failures mount.

No I wouldn’t. I am glad he’s failing, and I say this as an unemployed conservative with no UE checks coming in. I’d rather starve than give that serpent his re-election. Your rosy, good-guy attitude doesn’t apply when we are dealing with systemic deception and evil.

leftnomore on June 29, 2012 at 1:42 AM