Posted on 07/08/2014 11:56:14 AM PDT by GilGil
The first quarter contraction, especially our corrected number, implies a second quarter negative real GDP. In other words, the years of Quantitative Easing (money printing) by the Federal Reserve has not resulted in economic recovery from the 2008 downturn and has not prevented further contraction.
(Excerpt) Read more at paulcraigroberts.org ...
It went down 2.9 plus another 3 from the new method of calculating last year....so it went to NEGATIVE 6 PERCENT GDP......IF THIS NEXT QUARTER IS NOT AT LEAST PLUS 3 PERCENT....WE ARE IN A RECESSION ACCORDING TO THE DEFINITION....2 CONSECUTIVE NEGATIVE QUARTERS.
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