in the history of the United States of America.
It figures that right before Christmas, when everyone is rushing around getting deeper in debt to prop up a consumer economy instead of us being a saving economy, and everyone’s all stressed out, not paying attention, the Obomination drops another turd in the bushes.
EXCERPT: “On December 23, the Bureau of Economic Analysis (BEA) of the Commerce Department issued its latest revision of U.S. economic growth for the third quarter period (July through September). According to the BEA, the U.S. economy grew at a 5.0% annual rate during that quarter.
A more accurate estimate of the U.S. growth rate can be found by comparing each quarter with the quarter one year earlier. If the third quarter of 2014 is compared with the third quarter of 2013, the growth rate was 2.7%, not 5.0%, as shown in the graph below.”
This reminds the Gunny of the former Soviet Union wherein the government would set an economic goal and naturally, it would meet it or surpass it even while Soviet grain ships were loading at American docks and Soviets stood in line for hours for crap. Just like in the 1st Qtr of 2014 where the Obomination reported a wicked 0.1% growth which later morphed into a -2.9% decline. Moreover, they crow about unemployment being at 5% or so when in reality, according to the REAL unemployment number (U6), it is over 12%.
If you are not reading “Zero Hedge” you should be. They predicted the lies six months ago!
EXCERPT: “In short, two-thirds of the “boost” to final Q3 personal consumption came from, drumroll, the same Obamacare which initially was supposed to boost Q1 GDP until the “polar vortex” crashed the number so badly, the BEA decided to pull it completely and leave this “growth dry powder” for another quarter. That quarter was Q3.”
The below chart says it all folks. This economy and the stock market is a fart waiting for a hurricane to come along. The Obomination is doing JUST ENOUGH to get away with passing a shit sandwich to the next President, likely a Republican, and then when it shits the bed, the Democruds can start their blame game all over again, like they did when the Bonnie Fwank/Chris Dodd shit sandwich fell apart.
Here is a prediction. Right before New Year’s Day or just after, a small article is printed revising that 5% growth to say, 2.7% or so.