Catastrophic Q1 2014 GDP report at 0.1% makes 21 quarterly reports under Obama averaging just 1.76% each

The latest GDP report is here.

The decline in GDP in Q1 to 0.1% annualized was from 2.6% annualized in Q4 2013, a whopping 96% free fall. In other words, the economy did a panic stop, slamming on the brakes and hitting the wall.

Blaming it on the winter, for those of us who've seen more than fifty of them north of the Mason-Dixon Line, is laughable beyond belief. We don't hibernate like bears up here. We get up early and blow the snow off the 200 feet of driveway and get on with our day.

Here's the truth: Quarter on quarter durable goods consumption crashed over 70%, nondurable over 95%. Real nonresidential fixed investment was a catastrophe, the spread plummeting 136%. Residential investment added a decline of 5.7% to the previous quarter's decline of 7.9%. Exports went deep sea diving, the spread down 180% quarter on quarter, and the spread for imports was down even more, 193%. A slight uptick in government spending kept GDP barely positive.  

Five years of GDP reports under Obama have averaged just 1.24% per year, so the sixth year is off to a terrible start at 0.1%.

Eight years of GDP reports under Bush averaged 2.13% per year, pretty lame all by itself but 1.7 times better than Obama so far.

I'd take it in a heartbeat.

Oops: Last Fall NOAA Predicted Above Normal Temps November Through January

Reported here:

Surprised by how tough this winter has been? You’re in good company: Last fall the Climate Prediction Center of the National Oceanic and Atmospheric Administration predicted that temperatures would be above normal from November through January across much of the Lower 48 states. ... The big red blotch in the top map represents parts of the country in which the Climate Prediction Center forecast above-average temperatures. The frigid-looking blue blotch in the bottom “verification” map shows areas where temperatures turned out to be below average. “Not one of our better forecasts,” admits Mike Halpert, the Climate Prediction Center’s acting director.

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How come the experts are always surprised?

This is another climate model failure, you know the kind, like the ones which claim global warming continues even though it stopped fourteen years ago.

Obama Delays Global Warming Until 2016

Seen here.