Thursday, May 31, 2012

Another Wreckovery Summer?

Q1 GDP revised downward to 1.9% « Hot Air

Seems like back in '04, the economic numbers would always come in "worse than expected" with a lot of heavy commentary, then quietly get "revised upward". Now the disappointing numbers slink in with little comment and the downward revisions are darned near state secrets. there is a link to a decent example -- 4th qtr DOWN to 4.2% from 8.1% ...but just really not that good, with Democrats complaining about lack of jobs. Wow, they and the MSM seem A LOT more sanguine about some actually rotten economic numbers right now.

Back in the dim dark ages of '04, 250K+ jobs being added a month was a "jobless recovery" -- now there is a term one really doesn't hear much of in the MSM these days. Maybe that is because it is really tough to call it a "recovery" with a straight face even if you are staunchly in the tank for BO.

Oh, and GREAT NEWS!!! Before tax corporate profits are UP, but after tax they are DOWN!! Now there is something that the left really ought to be cheering about -- more money in the Feds coffers and less in the pockets of evil business and investors! That ought to teach them. Marvelous!

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