Wednesday, April 30, 2014

The 0.00025 Economy

0.1 % growth in the first quarter for the US was the number announced today.  Since that is an annualized number, the actual increase was 0.025%.  As an actual number the GDP increase was, mathematically, 0.00025 times the GDP at the beginning of the quarter!  The President's chief economist, Jason Furman celebrated the number as evidence of the strengthening economy.

The truth is that this number is so pitiful that it is just about as likely that the economy contracted in the first quarter as it is that it expanded. 

This is the zero growth economy that Obama policies have been designed to achieve.

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