Q1 GDP growth revised up slightly to 1.9% rate - Are we seriously to believe that the economy is growing ?!?
source: http://www.marketwatch.com/story/q1-gdp-growth-revised-up-slightly-to-19-rate-2011-06-24?dis...
-
-
- Schnookums
- added this
WASHINGTON (MarketWatch) - U.S. real gross domestic product for the first quarter was revised to an increase of 1.9% annualized from the earlier estimate of a 1.8% rise, the Commerce Department said Friday. Economists surveyed by MarketWatch expected first-quarter growth to be revised to a 2.0% rate.
Economists are gloomy about the second quarter, where high gasoline prices and supply disruptions from Japan's earthquake are expected to dampen growth. At the moment, economists polled by MarketWatch expect only a slight acceleration in growth to a 2.3% rate in the April-June quarter. The revision to first-quarter GDP was largely due to a downward revision to imports and a stronger inventory buildup.
A key measure of inflation was revised higher. Core prices increased 1.6% in the first quarter, up from 1.4% reported earlier. Corporate profits before tax were revised higher. Corporate profits before tax increased 7.8% quarter-to-quarter, down from the 6.3% reported earlier.
http://www.marketwatch.com/story/q1-gdp-growth-revised-up-slightly-to-19-rate-20...
**My Comment**
Considering Bernanke himself admitted that the first 2-2.5% of GDP 'growth' is fictitious (the result of monetary inflation and not greater demand), this is still showing the economy slightly shrinking in real terms.
http://www.pbs.org/newshour/updates/business/july-dec09/bernanke_07-26.html
I'd be nice if the Financial Media would remind people of that.......otherwise it sounds like propaganda.
Economists are gloomy about the second quarter, where high gasoline prices and supply disruptions from Japan's earthquake are expected to dampen growth. At the moment, economists polled by MarketWatch expect only a slight acceleration in growth to a 2.3% rate in the April-June quarter. The revision to first-quarter GDP was largely due to a downward revision to imports and a stronger inventory buildup.
A key measure of inflation was revised higher. Core prices increased 1.6% in the first quarter, up from 1.4% reported earlier. Corporate profits before tax were revised higher. Corporate profits before tax increased 7.8% quarter-to-quarter, down from the 6.3% reported earlier.
http://www.marketwatch.com/story/q1-gdp-growth-revised-up-slightly-to-19-rate-20...
**My Comment**
Considering Bernanke himself admitted that the first 2-2.5% of GDP 'growth' is fictitious (the result of monetary inflation and not greater demand), this is still showing the economy slightly shrinking in real terms.
http://www.pbs.org/newshour/updates/business/july-dec09/bernanke_07-26.html
I'd be nice if the Financial Media would remind people of that.......otherwise it sounds like propaganda.
-
- groups:
- Community, US Economy
-
-
Warren_Merrill
-
-
How do you like me now?
- 11 months ago
-
Warren_Merrill
-
-
Schnookums
-
-
Here's how GDP looks using the mathematical models our Government used 30 years ago compared to today's version. We're obviously contracting, but just not being told it's happening. "Creative accounting", as the lingo goes.......
http://www.shadowstats.com/alternate_data/gross-domestic-product-charts
- 11 months ago
-
Schnookums
-
-
Schnookums
-
But when has the charge of 'propaganda' swayed anything our Government has told us over the last 40+ years?
- 11 months ago
-
Schnookums
