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American Economy shows signs of slowing as Americans cut back spending. Is the "Recovery" over?

☆ElenaDiamond☆ 2012/07/27 13:33:59
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WASHINGTON (AP) — The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.

The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.

Growth at or below 2 percent isn't enough to lower the unemployment rate, which was 8.2 percent last month. And most economists don't expect growth to pick up much in the second half of the year. Europe's financial crisis and a looming budget crisis in the U.S. are expected to slow business investment further.

Read More: http://www.huffingtonpost.com/2012/07/27/us-econom...

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  • ģhøṡτ øώl 2012/07/27 13:37:41
    Yes. We are on the verge of a depression.
    ģhøṡτ øώl
    +6
    Basic Economics, folks. You can't just print new money and throw it into circulation in a dwindling economy with NOTHING TO BACK IT UP.

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  • LADY LIBERTY SILLY WORDSMITH 2012/08/02 03:18:12
    Yes. We are on the verge of a depression.
    LADY LIBERTY SILLY WORDSMITH
    RECOVERY IS 'NOWHERE' TO BE SEEN;

    IT IS AS NEAR AS FROM EARTH TO NEPTUNE,

    LET ALONE IT'S OVER!
  • AL 2012/07/31 08:29:28
    Yes. We are on the verge of a depression.
    AL
    +1
    I wonder why all my liberal friends keep telling me things are getting better, When there isn't even one sector of our whole economy shows that to be the case!
  • Wally-Molon Labe! 2012/07/28 15:08:14
    I think this
    Wally-Molon Labe!
    +2
    All the statistics that the government publishes and the mainstream media regurgitates are spun to give the unaware the illusion of recovery. There is no recovery. There never was a recovery. We have been sliding along on a wing and a prayer and fiat money. Americans are still losing jobs, losing homes, and losing hope. Almost 50 million on food stamps. ......and yet the DOW is doing great!!! More manipulation.
  • LADY LI... Wally-M... 2012/08/03 04:20:58
    LADY LIBERTY SILLY WORDSMITH
    I LOVE YOUR COMMENT, BELOVED BROTHER!
  • Jericho 2012/07/27 21:08:09
    I think this
    Jericho
    +3
    finally starting to show that the "recovery" never happened. You can only fake a good economy for so long.
  • william keegan 2012/07/27 16:18:42
    Yes. We are on the verge of a depression.
    william keegan
    +4
    I cannot understand why the MSM and liberals continue to push the falsity of a recovery!

    We are in the midst of the worst economy since the great depression of the 1930’s. The “real” unemployment continues at almost 15% and shows no tendency toward improvement at all. With the numbers at these levels continuing for almost four years the personal wealth of the people is in serious decline, with less wealth available to purchase goods and services, the providers of those goods and services necessarily have to cut back on production which means they have to lay off more and more employees thus adding to the unemployment problems, thus adding to the lowered purchasing power of the people which then spirals down to lower production and more unemployment.

    The current Administration’s answer is to borrow more money from China and use it to hire more teachers and police and firefighters. Doing absolutely nothing to correct the real problems, at the same time they are blocking the development of American energy production. They throw out the canard of the environment as a reason to not develop the oil, gas and coal industries in America. I ask what kind of environment are they willing to accept? Bread lines as long as one can see, a devalued currency that cannot sustain any sort of purchasing power at all?
  • LADY LI... william... 2012/08/03 04:37:49
    LADY LIBERTY SILLY WORDSMITH
    LOVE/RAVE YA!
  • Ken 2012/07/27 15:58:47
    Yes. We are on the verge of a depression.
    Ken
    +4
    It's not flat, it's moving downhill.
  • boss hawg 2012/07/27 15:31:57
    I think this
    boss hawg
    we've leveled off. until europe gets straightened out the global economy isn't going to grow much
  • Wally-M... boss hawg 2012/07/28 15:12:27
    Wally-Molon Labe!
    +1
    Wishful thinking. Europe is not going to get straightened out. America's jobs are leaving our shores. You can not grow an economy on minimum wage and slave wage jobs.
  • Don 2012/07/27 15:23:18
    Yes. We are on the verge of a depression.
    Don
    +1
    Empty Suit has done the exact wrong thing for 4 years.
    He is standing on the supply hose of any recovery.
    He has to go.
  • BifDaddy 2012/07/27 15:07:12
    Yes. We are on the verge of a depression.
    BifDaddy
    +2
    The only way to go is up once hitting bottom.

    Never has been any real recovery.
  • Wally-M... BifDaddy 2012/07/28 15:13:40
    Wally-Molon Labe!
    We haven't seen the bottom. When we do the people are going to freak.
  • john Kills 2012/07/27 14:51:55
    Yes. We are on the verge of a depression.
    john Kills
    +2
    The recovery was a lie. The US economy as well as the UK's will fail and there will be a global depression. After some chaos, there will emerge a one world currency and rule. The new world order is here and it's going to be a complete police state.
  • Wally-M... john Kills 2012/07/28 15:15:16
    Wally-Molon Labe!
    +2
    I believe you are correct and the psychopaths plans are right on schedule.
  • Diane Spraggs Yates 2012/07/27 14:02:42
    Yes. We are on the verge of a depression.
    Diane Spraggs Yates
    +2
    The summer of Recovery never happened only in Obama and Bidens dreams ---which is our nightmares !!!!!! To get rid of them in Nov is our only Hope For Change !!!!!!
  • Wally-M... Diane S... 2012/07/28 15:16:40
    Wally-Molon Labe!
    +1
    And replace them with whom? Fellow globalist Mittons Romney?
  • Diane S... Wally-M... 2012/07/28 16:39:21
    Diane Spraggs Yates
    Better than Obama !!!!
  • Morningstar 2012/07/27 13:59:36
    No. Recovery is continuing.
    Morningstar
    +1
    it will take years to recover from the blunders of bush tax breaks, deregulation of the banking industry, the 2 wars...
  • Wally-M... Morning... 2012/07/28 15:17:59
    Wally-Molon Labe!
    +1
    .....and moral decay, corruption, and greed.
  • Kat ♪ ~... Morning... 2012/07/28 15:25:09
  • ed 2012/07/27 13:55:03
    Yes. We are on the verge of a depression.
    ed
    +3
    nothing has improved since obama has been in office and yes he did inherit Bush's mess but lets say that obama gets re-elected he will inherit his own mess then won't he?
  • Diane S... ed 2012/07/27 14:04:27
    Diane Spraggs Yates
    +2
    No he will still blame someone else or even Bush !!!!
  • Wally-M... ed 2012/07/28 15:19:46
    Wally-Molon Labe!
    +2
    I doubt the impostor views his contribution to America's decline as a mess. He was groomed and prepared to do exactly what he has done. IMHO.
  • ed Wally-M... 2012/07/28 15:21:49
    ed
    +3
    true, but we AMERICANS need to ungroom his butt .
  • Wally-M... ed 2012/07/28 15:26:55
    Wally-Molon Labe!
    +1
    I agree. Why do you think that there is not one patriotic American doing anything about it? Why is there no uprising among Vets, actives, law enforcement, Oath Keepers?
  • ed Wally-M... 2012/07/28 15:33:05
    ed
    +1
    my friend I can't answer that question but I would think something is about to take place and I hope we have some law enforcement and military on our side,I also hope we have infiltrated homeland security and can get information from that source when needed.
  • Wally-M... ed 2012/07/28 15:45:26
    Wally-Molon Labe!
    +1
    I realize if you had any knowledge you couldn't say. I'll go with the hope.
  • Kat ♪ ~BTO-t-BCRA-F~ ♪ 2012/07/27 13:41:41
    I think this
    Kat ♪ ~BTO-t-BCRA-F~ ♪
    +4
    Economy has been in a decline, the so called recovery isn't real. He is borrowing everything he is spending because they've wasted it all. Look at the actual figures it doesn't match the fairy tale they are spinning. http://www.usdebtclock.org
  • Diane S... Kat ♪ ~... 2012/07/27 14:09:45
    Diane Spraggs Yates
    +1
    Honeywell is closed for 15 months labor is laid off and 44 fromEEI due to coal fired electricty turning to natural gas and Tamms prison is closing over 300 more jobs gone- over 13% un-employment in one of our county and we are depressed in good times we will be a ghost town before long !!!!!!
  • Kat ♪ ~... Diane S... 2012/07/27 14:14:36
    Kat ♪ ~BTO-t-BCRA-F~ ♪
    +1
    We need rid of these fools as fast as possible. Their garbage is destroying the country. His love of giving away our money to his cronies is absolutely sick and he cares nothing for the unemployed.
  • Diane S... Kat ♪ ~... 2012/07/27 14:42:39
    Diane Spraggs Yates
    +1
    We are losing our neighbors they are out looking for jobs !
  • Kat ♪ ~... Diane S... 2012/07/27 14:46:10
    Kat ♪ ~BTO-t-BCRA-F~ ♪
    +1
    The state of this country is truly sad. I can't wait for this election to be over and pray that this administration is gone.
  • ed Kat ♪ ~... 2012/07/28 15:22:56
    ed
    +2
    I agree and the way it's looking China is going to be top dog money wise if we don't start to do something.
  • Diane S... ed 2012/07/28 16:41:50
    Diane Spraggs Yates
    +1
    Canada passed USA in net worth a week or so ago !!!!
  • Headhunter 13 2012/07/27 13:40:00
    I think this
    Headhunter 13
    +5
    That there was never really a recovery just a small blip that was manufactured to appear as a recovery. All the problems that caused the economic downturn are still there and nothing has been done to help.
  • ģhøṡτ øώl 2012/07/27 13:37:41
    Yes. We are on the verge of a depression.
    ģhøṡτ øώl
    +6
    Basic Economics, folks. You can't just print new money and throw it into circulation in a dwindling economy with NOTHING TO BACK IT UP.
  • Diane S... ģhøṡτ øώl 2012/07/27 14:12:21
    Diane Spraggs Yates
    +2
    inflations-higher prices til our money can not buy food clothing housing !!!!! Taxed to death ! Government is the problem and Obama =to a communist with collective ideas!!!!
  • ģhøṡτ øώl Diane S... 2012/07/27 14:15:10
    ģhøṡτ øώl
    +3
    He is definitely a Marxist feeding and facilitating the transcendence from Capitalism to Socialism.
  • Diane S... ģhøṡτ øώl 2012/07/27 14:43:19
    Diane Spraggs Yates
    +1
    Amen you are right !

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