YUP...GDP Numbers BS
U.S. Q2 GDP down 1.0% annual vs -1.2% expected
THE REST OF THE STORY:
U.S. Q1 GDP revised down 6.4% vs -5.5 prev est
Without the revision, the GDP would have been down MUCH MORE than expected. Based on the revision, we are now getting very close to DEPRESSION range.
With all the wage cuts, layoffs, bankruptices, state and local government cut backs, crashing real estate values, etc....do you really think GDP is going to grow going forward?
The Zombulator is working in full swing.
When 80% of Americas economy is dependent on credit creation and government expenditures after factoring the mulitiplier effect, with credit evaporating and government cutting spending, the Zombulator is about to gut our economy in a manner never seen before.