Twelve quarters (through last Nov) to grow a CUMULATIVE 6%, less than half the average recovery. That's probably one-quarter of the Reagan Recovery many of us enjoyed and prospered under.
Posted on 07/31/2013 5:36:39 AM PDT by Oldeconomybuyer
U.S. economic growth unexpectedly accelerated in the second quarter, laying a firmer foundation for the rest of the year that could bring the Federal Reserve a step closer to cutting back its monetary stimulus.
Gross domestic product grew at a 1.7 percent annual rate, the Commerce Department said on Wednesday, stepping up from the first-quarter's downwardly revised 1.1 percent expansion pace.
(Excerpt) Read more at reuters.com ...
They call 1.7% “momentum” from a downwardly revised 1.1% in the first quarter. That is pathetic. Let’s wait and see how the 2nd quarter is revised again.
More phony numbers. The 1st quarter GDP growth was initially estimated at 2.4%, the 2nd quarter initial estimate is 1.7%. That is not growth, unless you’re a liberal. The revised estimate for the 1st quarter was 1.8%, the revised estimate for the 2nd quarter will probably drop by a third also.
Imagine your personal portfolio
1. Showing 1.7% quarterly growth.
2. The previous quarter showing 1.1% growth (after previously being reported higher).
How great would you feel?
I notice they did not say the numbers were recently changed. “bring me the real numbers”.
Good grief....1.7 GDP growth is now a cause for celebration? Had this happened in a Republican administration, the Leftist media would have had dour stories about bread lines and soup kitchens.
This puny report only looks better after the ObamaBots revised Q1 growth down to 1.1. No doubt the 1.7 number will be revised downward next quarter as they keep inflating this false economy. Pathetic.
they don’t call it Rooters for nothing...
Typical MSM BS. If you look at the secular growth rate for the US since they started keeping statistics, it’s 3.2 percent. Now the MSM is calling half that rate “momentum”. How sad.
“Imagine your personal portfolio .. Showing 1.7% quarterly growth.”
I would be fine with 6.8% annual return on my portfolio.
“I would be fine with 6.8% annual return on my portfolio.”
Sorry, I meant annualized 1.7% growth.
That's not quarterly growth. The 1.7% and 1.1% values are annual figures. So that's 0.42% and 0.27% for the quarter.
Twelve quarters (through last Nov) to grow a CUMULATIVE 6%, less than half the average recovery. That's probably one-quarter of the Reagan Recovery many of us enjoyed and prospered under.
1.7% is PATHETIC AND ANEMIC, not “gaining momentum”
1. Showing 1.7% quarterly growth.
1.7% quarterly growth for an economy is poor, but if my portfolio was growing at 1.7% quarterly (6.8% annually), I'd be quite happy.
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