Posted on 03/25/2016 11:03:23 PM PDT by entropy12
On the face of it, the economic update that the government is releasing on Friday should be a big yawn. Economists expect the revised numbers to confirm what we know already — that gross domestic product grew at an annual rate of just 1 percent in the final three months of 2015.
But it would be a mistake to dismiss the release — even if you're off from work for the Easter holiday. That's because the government also will be publishing its first estimate of what happened to company profits in the period. And the news isn't expected to be pretty.
Pre-tax earnings probably fell 9.5 percent in the fourth quarter from a year earlier, after dropping5.1 percent in the third, according to economists at JPMorgan Chase & Co. in New York. That would be the biggest decline since the 31 percent free fall in the closing months of 2008 during the height of the financial crisis.
(Excerpt) Read more at newsmax.com ...
It’s not possible. We have near full employment. Clearly the economy is awesome. I mean what could be better than 7 years of “recovery”. (/sarcasm tag for the impared)
This is big
GDP is a very lagging indicator.
Other current indicators indicate clearly the economy is now in a recession.
We will be in perpetual recession until we shore up manufacturing and go back to our protectionist roots. Go Trump!
Love your sarcastic humor!
Sadly, with the current state of US economy, we have no other choice except FORCE BALANCE of trade with all major traders.
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