Posted on 05/05/2009 9:08:09 AM PDT by anniegetyourgun
I wouldn’t normally write about the mundane topic of last week’s GDP figures if it weren't so, well, peculiar. The headline figure had the U.S. economy contracting at an annualized rate of 6.1% during the first quarter of 2009. This is one way to measure economic growth. The alternative way of viewing GDP, the year over year decline, revealed a more subdued -2.6% growth from 1Q’08 to 1Q’09. By either measure, the country has not seen such large sequential declines in 50 years.
(Excerpt) Read more at seekingalpha.com ...
I always said, the government is so ineffective they can’t even spend money efficiently.
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