Clive Thompson — Coders: The Making of A New Tribe and The Remaking of The World — Smarter Than You Think: How Technology Is Changing Our Minds for The Better — Videos

Posted on September 4, 2019. Filed under: American History, Anthropology, Blogroll, Books, College, Congress, Cult, Culture, Data, Economics, Education, Employment, High School, history, Journalism, Law, liberty, Life, Links, Literacy, Math, media, Medicine, Money, Non-Fiction, People, Philosophy, Photos, Programming, Psychology, Psychology, Radio, Radio, Rants, Raves, Raymond Thomas Pronk, Resources, Sociology | Tags: , , , , , , , , , , , , , , , , , , , , , , |

 

See the source image

Picture 1 of 10

See the source image

See the source image

 

See the source image

See the source image

Clive Thompson

CLIVE THOMPSON: HOW TECH REMADE THE WORLD

Clive Thompson: Where do Big Ideas Come From?

Smarter Than You Think | Clive Thompson

Clive Thompson’s New Book Smarter Than You Think | Keen On…

Smarter Than You Think by Clive Thompson | Animated Book Review

Smarter Than You Think by Clive Thompson Audiobook

Coding Culture

“Learning to Code is Not Just for Coders” | Ali Partovi | TEDxSausalito

TEDx Talks

Published on Dec 1, 2016
COFOUNDER, CODE.ORG, ILIKE, & LINKEXCHANGE “Every child in America deserves access to Computer Science.” Described by the San Jose Mercury News as one of “Silicon Valley’s top angel investors,” Ali Partovi has backed Airbnb, Dropbox, Facebook, Uber, and Zappos. In 2013, Partovi helped his twin brother Hadi launch Code.org, which promotes computer science education and has introduced 200 million kids to computer programming via the “Hour of Code.” Early in his career he cofounded LinkExchange and later iLike.

How I taught myself to code | Litha Soyizwapi | TEDxSoweto

Learn the basics. Learn by doing. Apply Knowledge.

What do programmers actually do?

Programmer: Reality vs Expectations (Computer Programmer) Part 1

Programmer: Reality vs Expectations (Computer Programmer) Part 2

Rags to Microsoft Software Developer – My Life Story

Microsoft laid me off after 15 years of service. My life after Microsoft?

Microsoft ruined MY weekend… MY LAN party & My LIFE! WHY!

Microsoft ruined MY weekend… MY LAN party & My LIFE! WHY!

The Real Story of the Homeless Coder | Mashable Docs

Top 10 Worst Things about Programming

here i listed them all:
10-commute 9-your work doesn’t exist 8-constant changing 7-meetings 6-your company changes 5-visibility office politics 4-sitting at desk all day 3-stress 2-arrogant people 1-bad code/manager

Top 10 Programmer Benefits

Learn Programming | Best Tips & Secrets

Top 10 Questions Coders Need to ASK in Interviews!

It’s The Culture Stupid | Coder Radio 336

Uncle Bob Martin – The Clean Coder

“Uncle” Bob Martin – “The Future of Programming”

Published on May 18, 2016

How did our industry start, what paths did it take to get to where we are, and where is it going. What big problems did programmers encounter in the past? How were they solved? And how do those solutions impact our future? What mistakes have we made as a profession; and how are we going to correct them. In this talk, Uncle Bob describes the history of software, from it’s beginnings in 1948 up through the current day; and then beyond. By looking at our past trajectory, we try to plot out where our profession is headed, and what challenges we’ll face along the way. Robert C. Martin (Uncle Bob) has been a programmer since 1970. He is the Master Craftsman at 8th Light inc, an acclaimed speaker at conferences worldwide, and the author of many books including: The Clean Coder, Clean Code, Agile Software Development: Principles, Patterns, and Practices, and UML for Java Programmers.

The Future of Programming – .NET Oxford – April 2019

Published on May 1, 2019

The Future of Programming 2019 Update How did our industry start, what paths did it take to get to where we are, and where is it going. What big problems did programmers encounter in the past? How were they solved? And how do those solutions impact our future? What mistakes have we made as a profession; and how are we going to correct them. In this talk, Uncle Bob describes the history of software, from it’s beginnings in 1948 up through the current day; and then beyond. By looking at our past trajectory, we try to plot out where our profession is headed, and what challenges we’ll face along the way. Robert Martin visited .NET Oxford in the UK, where this talk was recorded. For more information about the .NET Oxford user-group, please visit https://www.meetup.com/dotnetoxford.

Interview With Bob Martin (Uncle Bob)

Artificial Intelligence, the History and Future – with Chris Bishop

A New Philosophy on Artificial Intelligence | Kristian Hammond | TEDxNorthwesternU

Why Is Deep Learning Hot Right Now?

Deep Learning Tutorial with Python | Machine Learning with Neural Networks [Top Udemy Instructor]

Elon Musk: Tesla Autopilot | Artificial Intelligence (AI) Podcast

Eric Weinstein: Revolutionary Ideas in Science, Math, and Society | Artificial Intelligence Podcast

Tom Lehrer – Poisoning Pigeons In The Park

Tom Lehrer – We Will All Go Together When We Go

Tom Lehrer: The Vatican Rag (concert live) (1965)

Tom Lehrer – The Irish Ballad – LIVE FILM From Copenhagen in 1967

Tom Lehrer Full Copenhagen Performance

Tom Lehrer Interview NPR January 4, 1979

MIT Self-Driving Cars: State of the Art (2019)

MIT Deep Learning Basics: Introduction and Overview

Published on Jan 11, 2019

An introductory lecture for MIT course 6.S094 on the basics of deep learning including a few key ideas, subfields, and the big picture of why neural networks have inspired and energized an entire new generation of researchers. For more lecture videos on deep learning, reinforcement learning (RL), artificial intelligence (AI & AGI), and podcast conversations, visit our website or follow TensorFlow code tutorials on our GitHub repo.

MIT 6.S094: Introduction to Deep Learning and Self-Driving Cars

Google’s Deep Mind Explained! – Self Learning A.I.

Artificial Intelligence: Mankind’s Last Invention

Top 10 Computer Science Schools in the World

Coders: The Making of a New Art and the Remaking of the World

Clive Thompson. Penguin Press, $28 (448p) ISBN 978-0-7352-2056-0

In this revealing exploration of programming, programmers, and their far-reaching influence, Wired columnist Thompson (Smarter Than You Think) opens up an insular world and explores its design philosophy’s consequences, some of them unintended. Through interviews and anecdotes, Thompson expertly plumbs the temperament and motivations of programmers. Thompson explains how an avowedly meritocratic profession nevertheless tends to sideline those who are not white male graduates of prestigious university computer science programs, tracing this male-dominated culture back to 1960s and early ’70s MIT, where the “hacker ethic” was first born. Remarkably, though, he makes clear that programming is an unusual field in that successful practitioners are often self-taught, many having started out with only simple tools, such as a Commodore computer running the BASIC programming language. This book contains possibly the best argument yet for how social media maneuvers users into more extreme political positions, since “any ranking system based partly on tallying up the reactions to posts will wind up favoring intense material.” Impressive in its clarity and thoroughness, Thompson’s survey shines a much-needed light on a group of people who have exerted a powerful effect on almost every aspect of the modern world. (Apr.)

Reviewed on: 12/24/2018
Release date: 03/26/2019
Genre: Nonfiction
Ebook – 978-0-7352-2057-7
Paperback – 448 pages – 978-0-7352-2058-4

 

 

KIRKUS REVIEW

Of computer technology and its discontents.

Computers can do all kinds of cool things. The reason they can, writes tech journalist Thompson (Smarter than You Think: How Technology is Changing Our Minds for the Better, 2013), is that a coder has gotten to the problem. “Programmers spend their days trying to get computers to do new things,” he writes, “so they’re often very good at understanding the crazy what-ifs that computers make possible.” Some of those things, of course, have proven noxious: Facebook allows you to keep in touch with high school friends but at the expense of spying on your every online movement. Yet they’re kind of comprehensible, since they’re based on language: Coding problems are problems of words and thoughts and not numbers alone. Thompson looks at some of the stalwarts and heroes of the coding world, many of them not well-known—Ruchi Sanghvi, for example, who worked at Facebook and Dropbox before starting a sort of think tank “aimed at convincing members to pick a truly new, weird area to examine.” If you want weird these days, you get into artificial intelligence, of which the author has a qualified view. Humans may be displaced by machines, but the vaunted singularity probably won’t happen anytime soon. Probably. Thompson is an enthusiast and a learned scholar alike: He reckons that BASIC is one of the great inventions of history, being one of the ways “for teenagers to grasp, in such visceral and palpable ways, the fabric of infinity.” Though big tech is in the ascendant, he writes, there’s a growing number of young programmers who are attuned to the ethical issues surrounding what they do, demanding, for instance, that Microsoft not provide software to the Immigration and Customs Enforcement agency. Those coders, writes Thompson, are “the one group of people VCs and CEOs cannot afford to entirely ignore,” making them the heroes of the piece in more ways than one.

Fans of Markoff, Levy, Lanier et al. will want to have a look at this intriguing portrait of coding and coders.

About this book

https://www.kirkusreviews.com/book-reviews/clive-thompson/coders/

Book Summary

To understand the world today, we need to understand code and its consequences. With Coders, Thompson gives a definitive look into the heart of the machine.

Hello, world.

Facebook’s algorithms shaping the news. Self-driving cars roaming the streets. Revolution on Twitter and romance on Tinder. We live in a world constructed of code – and coders are the ones who built it for us. From acclaimed tech writer Clive Thompson comes a brilliant anthropological reckoning with the most powerful tribe in the world today, computer programmers, in a book that interrogates who they are, how they think, what qualifies as greatness in their world, and what should give us pause. They are the most quietly influential people on the planet, and Coders shines a light on their culture.

In pop culture and media, the people who create the code that rules our world are regularly portrayed in hackneyed, simplified terms, as ciphers in hoodies. Thompson goes far deeper, dramatizing the psychology of the invisible architects of the culture, exploring their passions and their values, as well as their messy history. In nuanced portraits, Coders takes us close to some of the great programmers of our time, including the creators of Facebook’s News Feed, Instagram, Google’s cutting-edge AI, and more. Speaking to everyone from revered “10X” elites to neophytes, back-end engineers and front-end designers, Thompson explores the distinctive psychology of this vocation – which combines a love of logic, an obsession with efficiency, the joy of puzzle-solving, and a superhuman tolerance for mind-bending frustration.

Along the way, Coders thoughtfully ponders the morality and politics of code, including its implications for civic life and the economy. Programmers shape our everyday behavior: When they make something easy to do, we do more of it. When they make it hard or impossible, we do less of it. Thompson wrestles with the major controversies of our era, from the “disruption” fetish of Silicon Valley to the struggle for inclusion by marginalized groups.

In his accessible, erudite style, Thompson unpacks the surprising history of the field, beginning with the first coders – brilliant and pioneering women, who, despite crafting some of the earliest personal computers and programming languages, were later written out of history. Coders introduces modern crypto-hackers fighting for your privacy, AI engineers building eerie new forms of machine cognition, teenage girls losing sleep at 24/7 hackathons, and unemployed Kentucky coal-miners learning a new career.

At the same time, the book deftly illustrates how programming has become a marvelous new art form – a source of delight and creativity, not merely danger. To get as close to his subject as possible, Thompson picks up the thread of his own long-abandoned coding skills as he reckons, in his signature, highly personal style, with what superb programming looks like.

https://www.bookbrowse.com/bb_briefs/detail/index.cfm/ezine_preview_number/13867/coders

Praise

“Fascinating. Thompson is an excellent writer and his subjects are themselves gripping. . . . [W]hat Thompson does differently is to get really close to the people he writes about: it’s the narrative equivalent of Technicolor, 3D and the microscope. . . . People who interact with coders routinely, as colleagues, friends or family, could benefit tremendously from these insights.” —Nature

“With an anthropologist’s eye, [Thompson] outlines [coders’] different personality traits, their history and cultural touchstones. He explores how they live, what motivates them and what they fight about. By breaking down what the actual world of coding looks like . . . he removes the mystery and brings it into the legible world for the rest of us to debate. Human beings and their foibles are the reason the internet is how it is—for better and often, as this book shows, for worse.” —TheNew York Times Book Review

“An outstanding author and long-form journalist. . . . I particularly enjoyed [Thompson’s] section on automation.” —Tim Ferriss

“[An] enjoyable primer on the world of computer programmers. . . . Coders are building the infrastructure on which twenty-first century society rests, and their work has every chance of surviving as long, and being as important, as the Brooklyn Bridge—or, for that matter, the Constitution.” —Bookforum

“Thompson delivers again with this well-written narrative on coders, individual histories, and the culture of coder life, at home and work. . . . In addition to analyzing the work-life of coders, he brilliantly reveals several examples of how they live in their respective relationships. Throughout, Thompson also does a great job exploring the various drivers that permeate the industry: merit, openness of code, long coding stints without sleep, and how the culture tends toward start-up culture even when companies are established. This engaging work will appeal to readers who wish to learn more about the intersection of technology and culture, and the space in which they blur together.” —Library Journal, starred review

“Thompson offers a broad cultural view of the world of coders and programmers from the field’s origins in the mid-twentieth century to the present. In this highly readable and entertaining narrative, he notes the sense of scale and logical efficiency in coding and the enthusiasm with which programmers go about creating new features and finding bugs. . . . [A] comprehensive look at the people behind the digital systems now essential to everyday life.”—Booklist

“Looks at some of the stalwarts and heroes of the coding world, many of them not well-known. . . . Thompson is an enthusiast and a learned scholar alike. . . . Fans of Markoff, Levy, Lanier, et al. will want to have a look at this intriguing portrait of coding and coders.” —Kirkus

“In this revealing exploration of programming, programmers, and their far-reaching influence, Wired columnist Thompson opens up an insular world and explores its design philosophy’s consequences, some of them unintended. Through interviews and anecdotes, Thompson expertly plumbs the temperament and motivations of programmers. . . . [Coders] contains possibly the best argument yet for how social media maneuvers users into more extreme political positions. . . . Impressive in its clarity and thoroughness, Thompson’s survey shines a much-needed light on a group of people who have exerted a powerful effect on almost every aspect of the modern world.”Publishers Weekly, starred review

“As a person who has spent a lot of time writing code, I can confirm that you need to be a little bit of a weirdo to love it. Clive Thompson’s book is an essential field guide to the eccentric breed of architects who are building the algorithms that shape our future, and the AIs who will eventually rise up and enslave us. Good luck, humans!” —Jonathan Coulton, musician

“Clive Thompson is more than a gifted reporter and writer. He is a brilliant social anthropologist. And, in this masterful book, he illuminates both the fascinating coders and the bewildering technological forces that are transforming the world in which we live.” —David Grann, author of The Lost City of Z and Killers of the Flower Moon

“With his trademark clarity and insight, Clive Thompson gives us an unparalleled vista into the mind-set and culture of programmers, the often-invisible architects and legislators of the digital age.”  —Steven Johnson, author of How We Got to Now

“If you have to work with programmers, it’s essential to understand that programming has a culture. This book will help you understand what programmers do, how they do it, and why. It decodes the culture of code.” —Kevin Kelly, senior maverick for Wired

“Clive Thompson is the ideal guide to who coders are, what they do, and how they wound up taking over the world. For a book this important, inspiring, and scary, it’s sinfully fun to read.” —Steven Levy, author of In the Plex

“It’s a delight to follow Clive Thompson’s roving, rollicking mind anywhere. When that ‘anywhere’ is the realm of the programmers, the pleasure takes on extra ballast. Coders is an engrossing, deeply clued-in ethnography, and it’s also a book about power, a new kind: where it comes from, how it feels to wield it, who gets to try—and how all that is changing.”  —Robin Sloan, author of Mr. Penumbra’s 24-Hour Bookstore

“Clive Thompson has deftly picked apart the myth of a tech meritocracy. Guiding readers through the undercovered history of programming’s female roots, Coders points with assurance to the inequities that have come to define coding today, as both a profession and the basis of the technology that shapes our lives. Readable, revealing, and in many ways infuriating.”  —Rebecca Traister, author of Good and Mad

“Code shapes coders, and coders shape the code that changes how we think, every day of our lives. If you want to create a more humanistic digital world, read this book to get started.” —Sherry Turkle, professor at MIT; author of Reclaiming Conversation and Alone Together

“Thompson has accomplished the nearly impossible task of portraying the coding world exactly as it is: messy, inspiring, naive, and—at times—shameful. Coders is a beautifully written and refreshingly fair portrayal of a young industry that’s accomplished so much and still has a lot to learn.” —Saron Yitbarek, CEO and founder of CodeNewbie

Coding Has Become Pop Culture

Exactly what I did not want to become …

But programming has not. And let me dive right into it.

Fifteen years ago when people suggested I should become a programmer because of my introverted and shy personality, analytical mind and complete lack of social life, I laughed and shamelessly flipped them off. But I was a teenager, and in my teenage mind a programmer lived forever with their parents, in the basement, with pimples and large ugly glasses, has never had a girlfriend but plenty of wet dreams about princess Leia. Repeatedly. And that image did not sit well with me. Plus, I actually had a girlfriend, and a hot one at that.

Forward six years, and I was in Budapest airport casually reading a book about HTML…

Add another 6 years and I landed my first full-stack web developer job at a Northern Irish startup. Yes, I took my time, I guess. But how much time? I don’t quite know to be honest. But it was a lot. Was it the mythical 10.000 hours? No. If I would have to make a rough estimation, I would say, to date I have “coded” about 8000 hours. Technically, according to the 10.000 hour rule, in 2000 hours worth of “coding”, I shall be an expert in my field.

Or will I?

Here’s what I have done in those 8000 hours. Grab a seat, as this is going to be long and hard to follow. I have written code in the following languages: C, HTML, CSS, JavaScript, Java (Android), Swift, PHP, Ruby, Python, Chuck, SQL to work with the following frameworks: Node, Angular, Bootstrap, Foundation, React, Rails, CodeIgniter, Ionic while building landing pages, websites, WordPress sites, eCommerce solutions, eLearning content, Moodle sites, Totara sites, Mahara sites, Common Cartridge packages, SCORM packages, Android apps, iOS apps, hybrid apps, in-house web applications, eBooks, magazines, games, and board-game companion apps. So what am I getting at?

Well, what I am trying to say is that there is no field, therefore becoming an expert in it, becomes unattainable. Coding is not a field. Computer Science is, but that’s an entirely different slice of cheese.

Coding is what presidents, educators, parents and employers and companies herd the young generations into, like cattle onto the holy grail of golden fields of opportunity.

The promise is a dream, the propaganda is well-crafted and simple-worded, heck it’s not even worded any more, it’s dumbed down to simple images for them lovely wee “rugrats” who definitely must learn logical thinking before learning how to feed themselves — please note the sarcasm.

Just 15 years later, coding has become the “pop-culturized” version of programming and what everybody now hopes will be the future army of coders upon which we shall build our AI controlled home, traffic, retail, entertainment, medical, industrial, sexual, illusional and delusional revolution, will turn out to be an absolute shit-show — and there truly is no better word for that. And all this, because programming is being sold as “coding” and “coding” is supposedly easy. Couldn’t be further away from the truth…

So here’s the fine-print. The “factualised” myth that anyone can learn a programming language in mere hours is only true up to a point and that point happens to be very early on in the learning process. Indeed, a and any programming language can be learnt in a single day. In fact if one’s goal is to become a programming polyglot in a month (while having a job), 8–10 languages can be learnt by studying during the weekends. But here’s the catch. Every programming language has its libraries and, its syntactic sugar and personality, and none of that can really be learnt quickly or easily or in a weekend. In fact, in the real world, every programming language becomes the least of your problems.

Just because you speak English, it doesn’t mean you’re good at writing novels, or even short stories. Same goes for coding.

Just because you’ve learnt the language, does not mean you know how to program. Add to that the myriad of frameworks, plugins, libraries, pre-processors, post-processors, coding standards, industry standards, TDD, BDD, content management systems, file versioning, CI, deployment and release management, debugging, ticketing, waterfall, agile, scrum and their combination thereof… and I am not even sure I’ve touched on everything. The point is, being a “coder” involves more or less all of the above. And programming itself is just a tiny tiny part of it. A crucial part, but nevertheless, tiny.

Yet programming is still continuously being dumbed-down …

Apple launched Playgrounds, MIT launched Scratch, Lego is launching Boost, all in an attempt to sell “coding” to younger and younger age-groups as if that will fill the quota of millions of new programmers by 202x.

The message is pretty much “don’t worry about the code, take these virtual puzzle pieces and off you go, you can program”. If only that were true. Here’s the thing about programming. It’s text-based. Has been, and will be for many more years to come. Kids who play with Lego Boost, Playgrounds or Scratch won’t be better programmers by the age of 22 than those who started learning programming at 16 and did it in an actual programming language. In fact, why should they be? I would not expect my child to be a bread-earning individual until the age of 22. Learn “coding” for 6 years, and I guarantee she/he will land a job in no-time.

GUI has also nothing to do with the real programming world, and logical thinking can be transferred to a kid in many other ways. When was the last time you saw a kid do a 1000 piece puzzle on the dining-room table? Exactly…

Kids are by default very logical human beings, in fact that’s how they learn how the world works.

They learn the value of the if-else-statement the first day they’re born. “If I cry, mum will make it stop, else I keep crying until dad shows up (who will probably make everything 10 times worse, but heck, I’m gonna t(c)ry anyway…).” Kids are very logical, hence their often brutal sincerity. You call it innocence, they call it a black-and-white world. There are no multiple switch statements yet. There are no shades of grey. That comes later. Both literally and literarily (in 3 volumes no less…). 😉 Bottom line, they are more than equipped with logical thinking, but put them in front of the TV, or hand them a tablet for 6 hours a day, and all that is going to become a pile of corrupted values as often there is very little thinking involved.

“Coding” is not a musical art, a piano or a violin that a child might need to develop muscle-memory for. It’s engineering.

What programming requires is analytical thinking, problem-solving attitude, stamina for failed attempts at coming up with the right solution, passion for technology, pride in your own code, but maturely accepting someone else’s improvements and observations, and a sense of responsibility for any code you write or contribute to.

Correct me if I am wrong, but none of these traits are easy to cultivate and develop. Certainly not at the age of 5! Yet, nobody seems to sell “coding” as it really is — a fun but difficult journey of discovery, success and failure and all that “da capo”, all year, every year.

Just because “coding” sounds cool, it does not mean it’s not the same ole’ hard-core programming. If anything, it’s even more so today than 15 years ago. Except we now all wear skinny jeans, walk around with even skinnier laptops, moved out of the basement and with all the “fill the gender-gap” hype, we might even end up with decent looking girlfriends.

P.S. Some things don’t change. The ugly glasses stayed. But they’re trendy now, so it’s all good. 😉

https://hackernoon.com/coding-has-become-a-pop-culture-939100f84b0c

The ugly underbelly of coder culture

Today’s developers are overwhelmingly young and male, and they’re barring the door from a more diverse workforce

Read Full Post | Make a Comment ( None so far )

Alan Greenspan — The Map and The Territory 2.0: Risk, Human Nature, and The Future of Forecasting — Videos

Posted on February 9, 2015. Filed under: American History, Banking, Blogroll, Books, British History, Business, College, Communications, Economics, Education, Employment, Energy, European History, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, Friends, government spending, history, History of Economic Thought, Inflation, Investments, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Music, Non-Fiction, People, Philosophy, Photos, Politics, Press, Radio, Rants, Raves, Regulations, Strategy, Talk Radio, Tax Policy, Taxes, Unemployment, War, Wealth, Welfare, Wisdom, Writing | Tags: , , , , , , , , , , , , , |

Alan_Greenspanthe map and terroritory 2.0Alan Greenspan The Map and The Territoryalan greenspan

Alan Greenspan: “I’m afraid (the US is) going to run into some form of political crisis

Greece Will Eventually Leave the Euro – Alan Greenspan Head of US Central Bank Eurozone Crisis

Alan Greenspan: Structure of the Oil Market Has Changed

Alan Greenspan on what’s wrong with the world economy – Newsnight

Alan Greenspan on Central Banks, Stagnation, and Gold

Alan Greenspan, former chairman of the Board of Governors of the Federal Reserve System, joins Gillian Tett, U.S. managing editor at the Financial Times, to discuss current trends in the global economy and solutions for addressing the financial crisis.

Alan Greenspan on Central Banks, Stagnation, and Gold

Alan Greenspan on Gold and The Federal Reserves inability to stop QE

Read Full Post | Make a Comment ( None so far )

The Growth Gap Widens As U.S. Heads Into Another Recession: Real Gross Domestic Product Down From 3.1% in Third Quarter to .1% in Fourth Quarter 2012! — Videos

Posted on February 28, 2013. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Demographics, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, Fiscal Policy, history, Inflation, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Psychology, Quotations, Raves, Regulations, Reviews, Tax Policy, Taxes, Unemployment, Video, Wealth | Tags: , , , , , , , , , , , , , , , , , , , , , , , |

us-economy-2012

GDP-10-recoveries-10-2012

gdp_large

US-GDP-dec232010013013gdp-600x445

gdp-components-since-2007 (1)

debt-and-gdp-main6

US_jobs_January_2013_Jan312013

gdpoilprice

Gerald Celente Predicts Economic Recession

Gerald Celente – Yahoo!’s The Daily Ticker – February 20, 2013

Gerald Celente: World Bank, Banksters, Coming Collapse.

Peter Schiff – Economic Collapse 2013

Peter Schiff: It’s Going To Hit The Fan During Obama’s Second Term – Fox Business

Peter Schiff: Wall Street’s rising back thanks to the taxpayers

Jim Rogers Asks Whether Obama Is ‘Delusional’ Or ‘Lying’

Chairman Kevin Brady presents his Opening Statement During JEC Hearing

Congressman Paulsen questions witnesses during Hearing on State of US Economy

Rep, Campbell during Joint Economic Committee Hearing on State of US Economy

Bill Gross Warns of Fed Easing ‘Irrational Exuberance Has Unduly Escalated Asset V

Harvey Golub on Fed Monetary Policy: We’re Creating a Series of Bubbles

Marc Faber Odds of World Heading Into Global Recession By 2013 Is 100% Certainty

JIM ROGERS – ‘If You Are Not Worried About 2013, Please – Get Worried’

Jim Rogers author of “Street Smarts” sits down w Glenn Beck on The Blaze TV re.

US to go into recession: Danielle Park

fiscal policy & automatic stabilizers

Austrian Economics versus Mainstream Economics | Mark Thornton

Econ Crisis 2 – Recessions

Old School Macro

Fiscal Policy

Deficits & The Debt

How Do Banks Work?

Central Bank & Monetary Policy

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, THURSDAY, FEBRUARY 28, 2013
BEA 13-06

* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.

Lisa S. Mataloni: (202) 606-5304 (GDP) gdpniwd@bea.gov
Recorded message: (202) 606-5306
Ralph Stewart: (202) 606-2649 (News Media)
Jeannine Aversa: (202) 606-2649 (News Media)
National Income and Product Accounts
Gross Domestic Product, 4th quarter and annual 2012 (second estimate)
      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 0.1 percent in the fourth quarter of 2012
(that is, from the third quarter to the fourth quarter), according to the "second" estimate released by the
Bureau of Economic Analysis.  In the third quarter, real GDP increased 3.1 percent.

      The GDP estimate released today is based on more complete source data than were available for
the "advance" estimate issued last month.  In the advance estimate, real GDP declined 0.1 percent.  The
upward revision to the percent change in real GDP is smaller than the average revision from the advance
to second estimate of 0.5 percentage point.  While today’s release has revised the direction of change in
real GDP, the general picture of the economy for the fourth quarter remains largely the same as what
was presented last month (for more information, see "Revisions" on page 3).

      The increase in real GDP in the fourth quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), nonresidential fixed investment, and residential fixed
investment that were partly offset by negative contributions from private inventory investment, federal
government spending, exports, and state and local government spending.  Imports, which are a
subtraction in the calculation of GDP, decreased.

	The deceleration in real GDP in the fourth quarter primarily reflected downturns in private
inventory investment, in federal government spending, in exports, and in state and local government
spending that were partly offset by an upturn in nonresidential fixed investment, a larger decrease in
imports, and an acceleration in PCE.

_______

FOOTNOTE.  Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified.  Quarter-to-quarter dollar changes are differences between these published estimates.  Percent
changes are calculated from unrounded data and are annualized.  "Real" estimates are in chained (2005)
dollars.  Price indexes are chain-type measures.

      This news release is available on BEA’s Web site along with the Technical Note and Highlights
 related to this release.  For information on revisions, see "Revisions to GDP, GDI, and Their Major
 Components".
_______

      Final sales of computers added 0.10 percentage point to the fourth-quarter change in real GDP
after adding 0.11 percentage point to the third-quarter change.  Motor vehicle output added 0.19
percentage point to the fourth-quarter change in real GDP after subtracting 0.25 percentage point from
the third-quarter change.

      The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 1.5 percent in the fourth quarter, 0.2 percentage point more than in the advance estimate; this
index increased 1.4 percent in the third quarter.  Excluding food and energy prices, the price index for
gross domestic purchases increased 1.1 percent in the fourth quarter, compared with an increase of 1.2
percent in the third.

      Real personal consumption expenditures increased 2.1 percent in the fourth quarter, compared
with an increase of 1.6 percent in the third.  Durable goods increased 13.8 percent, compared with an
increase of 8.9 percent.  Nondurable goods increased 0.1 percent, compared with an increase of 1.2
percent.  Services increased 0.9 percent, compared with an increase of 0.6 percent.

      Real nonresidential fixed investment increased 9.7 percent in the fourth quarter, in contrast to a
decrease of 1.8 percent in the third.  Nonresidential structures increased 5.8 percent; it was unchanged in
the third quarter.  Equipment and software increased 11.3 percent in the fourth quarter, in contrast to a
decrease of 2.6 percent in the third.  Real residential fixed investment increased 17.5 percent, compared
with an increase of 13.5 percent.

      Real exports of goods and services decreased 3.9 percent in the fourth quarter, in contrast to an
increase of 1.9 percent in the third.  Real imports of goods and services decreased 4.5 percent, compared
with a decrease of 0.6 percent.

      Real federal government consumption expenditures and gross investment decreased 14.8 percent
in the fourth quarter, in contrast to an increase of 9.5 percent in the third.  National defense decreased
22.0 percent, in contrast to an increase of 12.9 percent.  Nondefense increased 1.8 percent, compared
with an increase of 3.0 percent.  Real state and local government consumption expenditures and gross
investment decreased 1.3 percent, in contrast to an increase of 0.3 percent.

      The change in real private inventories subtracted 1.55 percentage points from the fourth-quarter
change in real GDP, after adding 0.73 percentage point to the third-quarter change.  Private businesses
increased inventories $12.0 billion in the fourth quarter, following increases of $60.3 billion in the third
and $41.4 billion in the second.

      Real final sales of domestic product -- GDP less change in private inventories -- increased 1.7
percent in the fourth quarter, compared with an increase of 2.4 percent in the third.

Gross domestic purchases

      Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- decreased 0.1 percent in the fourth quarter, in contrast to an increase of 2.6 percent in the
third.
Current-dollar GDP

      Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
1.0 percent, or $40.2 billion, in the fourth quarter to a level of $15,851.2 billion.  In the third quarter,
current-dollar GDP increased 5.9 percent, or $225.4 billion.

Revisions

      The "second" estimate of the fourth-quarter percent change in GDP is 0.2 percentage point, or
$9.2 billion, more than the advance estimate issued last month, primarily reflecting an upward revision
to exports, a downward revision to imports, and an upward revision to nonresidential fixed investment
that were partly offset by a downward revision to private inventory investment.

                                                                     Advance Estimate             Second Estimate
                                                                       (Percent change from preceding quarter)

Real GDP.......................................                            -0.1                         0.1
Current-dollar GDP.............................                             0.5                         1.0
Gross domestic purchases price index...........                             1.3                         1.5

2012 GDP

      Real GDP increased 2.2 percent in 2012 (that is, from the 2011 annual level to the 2012 annual
level), compared with an increase of 1.8 percent in 2011.

      The increase in real GDP in 2012 primarily reflected positive contributions from personal
consumption expenditures (PCE), nonresidential fixed investment, exports, residential fixed investment,
and private inventory investment that were partly offset by negative contributions from federal
government spending and from state and local government spending. Imports, which are a subtraction in
the calculation of GDP, increased.

      The acceleration in real GDP in 2012 primarily reflected a deceleration in imports, upturns in
residential fixed investment and in private inventory investment and smaller decreases in state and local
government spending and in federal government spending that were partly offset by decelerations in
PCE, exports, and nonresidential fixed investment.

      The price index for gross domestic purchases increased 1.7 percent in 2012, compared with an
increase of 2.5 percent in 2011.

      Current-dollar GDP increased 4.0 percent, or $605.8 billion, in 2012 to a level of $15,681.5
billion, compared with an increase of 4.0 percent, or $576.8 billion, in 2011.

	During 2012 (that is, measured from the fourth quarter of 2011 to the fourth quarter of 2012),
real GDP increased 1.6 percent.  Real GDP increased 2.0 percent during 2011.  The price index for gross
domestic purchases increased 1.5 percent during 2012, compared with an increase of 2.5 percent during
2011.

                                            *          *          *

      BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov.  By visiting
the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.

                                           *          *          *

                             Next release -- March 28, 2013 at 8:30 A.M. EDT for:
                Gross Domestic Product:  Fourth Quarter and Annual 2012 (Third Estimate)
                              Corporate Profits:  Fourth Quarter and Annual 2012

gdp_large

Read Full Post | Make a Comment ( None so far )

Liked it here?
Why not try sites on the blogroll...