{"id":3673,"date":"2009-04-29T10:37:59","date_gmt":"2009-04-29T14:37:59","guid":{"rendered":"http:\/\/www.prosebeforehos.com\/?p=3673"},"modified":"2009-04-29T10:37:59","modified_gmt":"2009-04-29T14:37:59","slug":"who-are-you-people","status":"publish","type":"post","link":"https:\/\/www.prosebeforehos.com\/news-to-make-you-blue\/04\/29\/who-are-you-people\/","title":{"rendered":"Who are you people?"},"content":{"rendered":"<p>Nothing says getting out of a recession like keeping up the behavior that got us into it in the first place:<\/p>\n<p>In the <a href=\"http:\/\/money.cnn.com\/2009\/04\/29\/news\/economy\/gdp\/index.htm?postversion=2009042909\">first quarter of 2009<\/a>,<\/p>\n<blockquote><p>The U.S. economy shrank at a pace of 6.1% in the first quarter<\/p><\/blockquote>\n<p>Yet&#8230;<\/p>\n<blockquote><p>Purchases by individuals rose at an annual 2.2% rate, the first time personal spending rose since the second quarter of 2008.<\/p><\/blockquote>\n<p><a href=\"http:\/\/www.bea.gov\/newsreleases\/national\/pi\/pinewsrelease.htm\">But&#8230;<\/a><\/p>\n<blockquote><p>Personal income decreased $29.1 billion, or 0.2 percent, and disposable personal income (DPI) decreased $10.5 billion, or 0.1 percent, in February, according to the Bureau of Economic Analysis.<br \/>\nPersonal consumption expenditures (PCE) increased $17.2 billion, or 0.2 percent.<\/p><\/blockquote>\n<p>So, let&#8217;s get this straight. Personal income decreased by approximately $30 billion, the GDP shrank by 6.1%, and yet people are spending 2.2% more than they were a year ago? Are you people trying to get your god damn flat screen TV&#8217;s foreclosed?!<\/p>\n<p><strong>See Also:<\/strong> <a href=\"http:\/\/andrewsullivan.theatlantic.com\/the_daily_dish\/2009\/04\/confidence-is-up.html\">Confidence Is Up<\/a>, <a href=\"http:\/\/angrybear.blogspot.com\/2009\/04\/disconnet-of-my-economy-with-money.html\">The disconnect of my economy with the money economy<\/a>, <a href=\"http:\/\/delong.typepad.com\/sdj\/2009\/04\/what-good-is-modern-finance.html\">What Good Is Modern Finance?<\/a>, <a href=\"http:\/\/www.ritholtz.com\/blog\/2009\/04\/gdp-down-61\/\">GDP Falls 6.1%<\/a>, <a href=\"http:\/\/curiouscapitalist.blogs.time.com\/2009\/04\/29\/gdp-falls-61-in-the-first-quarter-what-does-that-mean\/\">GDP falls 6.1% in the first quarter. What does that mean?<\/a>, <a href=\"http:\/\/bespokeinvest.typepad.com\/bespoke\/2009\/04\/weaker-than-expected-gdp.html\">Weaker Than Expected GDP<\/a>, <a href=\"http:\/\/gatewaypundit.blogspot.com\/2009\/04\/team-obama-miscalculates-us-gdp-growth.html\">Team Obama Miscalculates US GDP Growth By Nearly Half a Trillion Dollars<\/a>, <a href=\"http:\/\/dailyreckoning.com\/not-depressed-yet\/\">Not Depressed Yet<\/a>, <a href=\"http:\/\/www.pakspectator.com\/the-rising-spectre-of-unemployment\/\">The rising specter of unemployment<\/a>, <a href=\"http:\/\/meganmcardle.theatlantic.com\/archives\/2009\/04\/the_end_of_capitalism.php\">The End of Capitalism?<\/a>, and <a href=\"http:\/\/blogs.wsj.com\/marketbeat\/2009\/04\/27\/tuning-back-in-to-the-economy\/\">Tuning Back In to the Economy<\/a>.<\/p>\n<p>[tags]economy, personal income, contraction, recession, behavioral economics, spending money, personal consumption, gdp numbers, first quarter 2009, april 2009, economics, individual spending, expenditures, disposable income, consumer spending, 2009 stats[\/tags]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nothing says getting out of a recession like keeping up the behavior that got us into it in the first place: In the first quarter of 2009, The U.S. economy shrank at a pace of 6.1% in the first quarter Yet&#8230; Purchases by individuals rose at an annual 2.2% rate, the first time personal spending [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GDP and Personal Income Shrinks and Yet Consumer Spending Increases<\/title>\n<meta name=\"description\" content=\"Keeping up the behavior that sparked the recession in the first place: GDP and personal income fall 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