Joe Doakes from Como Park emails:
First Quarter GDP revised down to 0.8% and second quarter revised down to 1.2%. The economy is flat.
And that’s if you believe these revised numbers are accurate information instead of political propaganda for the election year.
Joe Doakes
Like any of Obama’s policy declarations, job and GDP numbers have shelf lives.
It’s been quite a while since the numbers were revised up. Part of the problem is that they’re trying to overhaul the seasonality numbers, which have moderated quite a bit as compared to history. No doubt the fact that economy is severely damped is completely unrelated to the massive amounts of regulation that have been applied in the last 8 years.
Interestingly in all the breathless reporting on ‘Brexit’, one of the areas our Democrat Party Dominated Media Culture failed to note was that the UK (or at least the parts of it that voted ‘leave’) was hindered by the heavy handed regulation Brussels was imposing on the Euro zone. The Euro Zone is content with sub 1.0% growth (even if it’s only the British & Germans growing while everyone else is flat or negative).
Even with all the ‘stimulus’ (negative rate 10 year bonds!) they surmise that though the dog is dead the tail still wags. Let’s keep ‘stimulating’ the economy until we run out of everyone else’s money / can’t borrow anymore.
Maybe it’s time the Economists started looking at other parts of the equation to determine why growth has been so ‘elusive’ and job growth so ‘unexpectedly’ slow.
http://freebeacon.com/issues/record-600-major-regulations-imposed-obama/
A government lie is the most insidious of lies. It has an army of journalists defining it as true.