D’ja hear the great news? The economy continues to suck.
The stock market rallied nicely yesterday after the Commerce Department changed its mind about how the economy did in the first three months of 2013.
After thinking the US economy grew at an annualized rate of 2.4 percent in the quarter, Commerce revised the number downward — saying growth had actually been only 1.8 percent.
There are several things you need to understand before I continue.
First, even 2.4 percent growth isn’t good. An economy that’s pumped up with the amount of liquidity the Federal Reserve has created should be growing at twice that rate, or more.
Second, the new 1.8 percent growth is annualized. That means the
economy would have to expand by the same amount over all four quarters
of the year to achieve 1.8 percent.
http://www.nypost.com/p/news/business/slower_growth_fewer_jobs_wall_st_777xJUeB93iCSp2pjuoQmN
The stock market rallied nicely yesterday after the Commerce Department changed its mind about how the economy did in the first three months of 2013.
After thinking the US economy grew at an annualized rate of 2.4 percent in the quarter, Commerce revised the number downward — saying growth had actually been only 1.8 percent.
There are several things you need to understand before I continue.
First, even 2.4 percent growth isn’t good. An economy that’s pumped up with the amount of liquidity the Federal Reserve has created should be growing at twice that rate, or more.
http://www.nypost.com/p/news/business/slower_growth_fewer_jobs_wall_st_777xJUeB93iCSp2pjuoQmN
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