Negative interest rates coming. Under the mattress is looking like a good option.
Surprise, surprise, surprise.
With the nation now ruled by an utter nincompoop, Marxist-Muslim nobody and a plethora of unaccomplished nitwits, what would one expect?
Out of a recession? Hardly. This pit dug by the evil Obama regime and their Republicrat bunkmates is too deep to crawl out of.
America is finished......unless, along comes a Generalissimo Francisco Franco to save us from the maniacal neo-Marxists, race baiters, gigantic central socialist government and the accompanying big conglomerate businesses.
Well, that’s sets the stage for another “Recovery Summer”! WooHoo!
I feel like I'm listening to the crop forecasts in the old Soviet Union where every year for 60 years the lousy harvest was blamed on the "bad weather".
Every single year...
It is amazing that our national economy was able to survive for so long, seeing how this “winter” takes such a large bite out of it. Unless I am mistaken, we’ve had these “winters” once a year, every year..... just amazing that in the past we actually had growth occur during “winter!!”
So they now tell us that it is 0.7 negative growth. How can you be that far off in an estimate and still keep your job?
Totally unexpected. Aint socialism grand?
The title has been changed, folks...
It is now:
“US economy shrank in winter but staging a spring rebound”
OBVIOUSLY the Dems went nuts over the headline.
I wonder who called the editors?
Was iy Media Matters, the White House, or the IRS?
Bottom line: republicans are in charge of congress. Hillary is running for president. Things are getting bad and it’s the republicans’ fault so it’s time to report the truth about the economy.
Dude, that was 3 months ago.
Green shoots!/s
Weather is unpredictable; so if weather is now to be considered an important factor in determining GDP, how can economists’ predictions be taken seriously anymore?
And since weather is not only unpredictable but also uncontrollable, how can we take the Federal Reserve seriously anymore when it claims to be able to affect the economy by adjusting interest rates?
In fact, there are so many other important factors that are unpredictable and uncontrollable by the Federal Reserve that pronouncements by Janet Yellen should have no more relevance to reality than those of a gypsy fortune teller.
For example, the interest rates set by the European Central Bank, the Bank of Japan, etc., are critical to the health of our economy.
So when the ECB and Bank of Japan cut interest rates drastically last year, the Euro and yen sank against the U.S. dollar, thereby making European goods less expensive on the world market than our own and hurting American exports. It wasn’t just the weather that caused our first quarter drop in GDP.
So what is Janet Yellen’s response going to be to curb the rise of the dollar? In fact, she’s going to make the dollar rise even more by raising interest rates. This will cause investors to trade Euros and yens for dollars in order to by U.S. Treasuries with their higher interest rates, and on and on until American goods are priced out of the world markets, our exports collapse, and our GDP goes into a death spiral.
TOTALLY UNEXPECTED! /s
The trade gap was not responsible for a reduction in the GDP
The strong $ was if any thing responsible for an increase in the trade gap. A more important factor was the strike by the unions preventing imports