{"id":34020,"date":"2009-11-24T01:01:01","date_gmt":"2011-05-19T01:40:21","guid":{"rendered":""},"modified":"2011-05-19T01:40:21","modified_gmt":"2011-05-19T01:40:21","slug":"as_rush_predicted_gdp_revised_downward_no_private_growth","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/","title":{"rendered":"As Rush Predicted: GDP Revised Downward, No Private Growth"},"content":{"rendered":"<section>\n<p>RUSH: It is amazing. Right on schedule, ladies and gentlemen &#8212; here as this program begins &#8212; is the GDP for the third quarter, as I predicted, being revised downward. Obama strolls to the microphone with the prime minister of India and a joint press conference right as this program starts. But I\u2019m not worried about it, ladies and gentlemen, because I know that I have more drawing power than either of these guys, particularly Obama. The country may be interested in hearing what the Indian guy has to say, but Obama? They\u2019re tired of it. <\/p>\n<p>Greetings great to have you here. Rush Limbaugh, the EIB Network, and the Limbaugh Institute for Advanced Conservative Studies. <\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125106.Par.89380.ImageFile.jpg\" width=\"300\" height=\"187\" class=\"alignright\"\/>Yes, back on October 29th on this program, I said this: &#8221;I want to take another stab at this GDP thing,\u2019 because checking e-mail during the break I heard, &#8216;What do you mean, Rush? You\u2019ve never said that Gross Domestic Product increases in the past were fake! You\u2019re just anti-Obama.\u2019 No, no, no, no, no. I am anti-Obama, but don\u2019t you find this suspicious right before some elections hit next week? You know that this number is going to be revised downward later this month, and nobody\u2019s going to pay any attention to it,\u2019 and it has been revised downward, I\u2019m talking about the GDP number. Everybody went nuts! &#8216;All right, the recovery is on! The recession is over! GDP 3.5%.\u2019 Ah, ah, ah, ah! It\u2019s been revised downward now to 2.8%, &#8216;seasonally adjusted.\u2019 This always happens. It\u2019s easy to predict. The media is not making a big deal of it. It\u2019s just the normal flow of events. Once again GDP equals CIG: Consumption by the Public, Investment by business, and Government spending. CIG.<\/p>\n<p>There has been no increase in consumption by consumers. There has been no increase in business investment. There have been big increases in government spending. And so the GDP is growing but it\u2019s all growing in government. That\u2019s not good because that\u2019s not where private sector jobs are created. So anyway, stocks are opening a little down. They\u2019re minus 50 or so last time I checked. Then this story. Now, see, this is why, folks, you are very fortunate to have me as your host. I have here a story by Hibah Yousuf, CNNmoney.com staff reporter. The headline: &#8216;Consumers More Optimistic About Recovery.\u2019 Subheadline: &#8216;Conference Board\u2019s reading for consumer confidence rises in November, but outlook on present situation remains downbeat.\u2019 If you are just a headline reader then you will look at this and you\u2019ll think, &#8216;Hey, hey, it\u2019s all good, man! Oh, man, my neighbor is getting positive! My neighbor has all kinds of new confidence on the economy; maybe I should have some, too.\u2019 But then if you read the story, you will learn how bad it really is out there. <\/p>\n<p>Let me illustrate this as only I can: &#8216;A key measure of consumer confidence gained slightly in November.\u2019 Headline: &#8216;Consumers More Optimistic About Recovery.\u2019 First line: &#8216;Confidence gained slightly in November, snapping a two-month declining streak, a research group said Tuesday. The Conference Board, the New York-based research group, said its Consumer Confidence Index rose to 49.5 in November from an upwardly revised 48.7 in October.\u2019 Now, normally the reading is above 90. All throughout the first eight years of this decade, the reading was in the nineties, approaching a hundred &#8212; and as they indicate in this story the overall index remains at &#8216;historically low levels.\u2019 But you have to read deep to get there, and that\u2019s what I do: I read deep and I read between the lines for you. &#8216;The overall index remains at historically low levels. A reading above 90 indicates the economy is solid, and 100 or above signals strong growth.\u2019 And where are we? Forty-nine point five, historically low. <\/p>\n<p>&#8216;Consumers\u2019 assessment of the job market also continued to deteriorate.\u2019 Remember the headline: &#8216;Consumers More Optimistic About Recovery.\u2019 &#8216;Consumers\u2019 assessment of the job market also continued to deteriorate. The percentage of those claiming that jobs are currently hard to get reached a new high of 49.8%&#8230;\u2019 Let\u2019s see. Well, that\u2019s higher than the confidence number. How do you explain that? The confidence number is 49.5% and the people who think it\u2019s really hard getting a job out there, 49.8%. &#8216;&#8230; while the number of consumers claiming that jobs are &#8216;plentiful\u2019 hit a new low at 3.2%.\u2019 So 3.2% of American people, consumers, think that jobs are plentiful. I don\u2019t even know what that means. Not even I, El Rushbo, can find any way to relate to that. Jobs are &#8216;plentiful,\u2019 3.2% of the people think? Who are they? Who would you think 3.2% of the people who think jobs are plentiful are? The margin of error is right, \u2019cause the real number has to be zero. &#8216;The percentage of consumers expecting their incomes to increase declined to 10% from 10.7%,\u2019 yet the headline: &#8216;Consumers More Optimistic About Recovery.\u2019 <\/p>\n<p>&#8216;Despite their current outlook, however, consumers are optimistic about a recovery. The expectation index, which measures consumers\u2019 outlook over the next few months, climbed to 68.5 from 67 last month. &#8230; Likewise, the percentage of consumers expecting an improvement in business conditions over the next six months dropped to 20% from 20.8%,\u2019 but they\u2019re optimistic about a recovery out there. So it\u2019s more gibberish from the State-Controlled Media, CNN, with a headline followed by a story that makes literally no sense compared to the headline. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>RUSH: It is amazing. Right on schedule, ladies and gentlemen &#8212; here as this program begins &#8212; is the GDP for the third quarter, as I predicted, being revised downward. Obama strolls to the microphone with the prime minister of India and a joint press conference right as this program starts. But I\u2019m not worried [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>As Rush Predicted: GDP Revised Downward, No Private Growth  - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"As Rush Predicted: GDP Revised Downward, No Private Growth  - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: It is amazing. Right on schedule, ladies and gentlemen &#8212; here as this program begins &#8212; is the GDP for the third quarter, as I predicted, being revised downward. Obama strolls to the microphone with the prime minister of India and a joint press conference right as this program starts. But I\u2019m not worried [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125106.Par.89380.ImageFile.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125106.Par.89380.ImageFile.jpg\",\"contentUrl\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125106.Par.89380.ImageFile.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#webpage\",\"url\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/\",\"name\":\"As Rush Predicted: GDP Revised Downward, No Private Growth - The Rush Limbaugh Show\",\"isPartOf\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#primaryimage\"},\"datePublished\":\"2011-05-19T01:40:21+00:00\",\"dateModified\":\"2011-05-19T01:40:21+00:00\",\"author\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rushlimbaugh.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"As Rush Predicted: GDP Revised Downward, No Private Growth\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"As Rush Predicted: GDP Revised Downward, No Private Growth  - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/","twitter_card":"summary","twitter_title":"As Rush Predicted: GDP Revised Downward, No Private Growth  - The Rush Limbaugh Show","twitter_description":"RUSH: It is amazing. Right on schedule, ladies and gentlemen &#8212; here as this program begins &#8212; is the GDP for the third quarter, as I predicted, being revised downward. Obama strolls to the microphone with the prime minister of India and a joint press conference right as this program starts. But I\u2019m not worried [&hellip;]","twitter_image":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125106.Par.89380.ImageFile.jpg","twitter_misc":{"Written by":"admin","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/admin.rushlimbaugh.com\/#website","url":"https:\/\/admin.rushlimbaugh.com\/","name":"The Rush Limbaugh Show","description":"Excellence In Broadcasting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#primaryimage","inLanguage":"en-US","url":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125106.Par.89380.ImageFile.jpg","contentUrl":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125106.Par.89380.ImageFile.jpg"},{"@type":"WebPage","@id":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#webpage","url":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/","name":"As Rush Predicted: GDP Revised Downward, No Private Growth - The Rush Limbaugh Show","isPartOf":{"@id":"https:\/\/admin.rushlimbaugh.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#primaryimage"},"datePublished":"2011-05-19T01:40:21+00:00","dateModified":"2011-05-19T01:40:21+00:00","author":{"@id":"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b"},"breadcrumb":{"@id":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/11\/24\/as_rush_predicted_gdp_revised_downward_no_private_growth\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rushlimbaugh.com\/"},{"@type":"ListItem","position":2,"name":"As Rush Predicted: GDP Revised Downward, No Private Growth"}]},{"@type":"Person","@id":"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b","name":"admin","image":{"@type":"ImageObject","@id":"https:\/\/admin.rushlimbaugh.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/34020"}],"collection":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/comments?post=34020"}],"version-history":[{"count":0,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/34020\/revisions"}],"wp:attachment":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/media?parent=34020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/categories?post=34020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/tags?post=34020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}