Friday, May 30, 2014

Economy Down 1% First Quarter

The Economy: Don’t Look Now, But . . . | Power Line:

So now we find that 1Q 2014 was negative growth -- if BO was an R, that would be a RECESSION! It used to be 2Qs of negative GDP for either party, but TP decided that the new rule is apparently AT LEAST 2 quarters if TP is in power, and 1Q of "something like negative growth" in the unlikely case of an R in the WH!

Not that it makes much difference, what counts for "growth" under BO is so tepid and so weighted to a few states that have economic policies in direct opposition to BO, that we have been basically in a recession all along.

Apparently, some are blaming the cold winter. I suppose that can be marked down as an example of "climate disruption"?

I heard on the news this AM that consumer spending was DOWN in April -- a normal sign of recession under way, so we will see. I'm sure that the general media will be doing all they can to minimize people's knowledge of the state of the economy as much as possible, as they have been doing since BO took over.

'via Blog this'

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