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Posted 25 June 2014 - 09:06 AM
Pretty sure there was a recession leading into 2008/financial crisis, which is why I mentioned it in thread title. We're not in a recession supposedly and this is awful.
Posted 25 June 2014 - 09:10 AM
This is the second revision to the 1Q GDP number issued by the gov't.
First reading was +0.1%
First revision was -1.0%
Second revision -2.9%
GDP has never fallen more than 1.5% except during or just before a recession.
personal expenditures to blame
It is amazing that the initial estimate of healthcare spending’s contribution to Q1 growth went from an initial estimate of +1.10 percentage points (representing a 9.9% quarter-to-quarter annualized growth rate in the sector) to -0.16pp (-1.4% q/q annualized). This is a crazy-sized revision, and speaks very loudly to the fact that nobody has a real handle on how the introduction of Obamacare has affected these data, nor for how long the distortions may last until things settle down. –Joshua Shapiro, MFR, Inc
Posted 25 June 2014 - 09:11 AM
And stocks go up.
Of course. Have to get in before the fed ramps up the QE
Posted 25 June 2014 - 09:19 AM
Economics 101 just doesn't seem to hold water anymore.
11 million on disability, half the country on assistance of some kind, and the stock market setting records based on the Fed pumping.
Debt no longer matters.
Why did I waste time on that stupid class in College? Oh wait, it was required. Don't feel so bad now.
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