BofA the Gloomiest of Them All: GDP at 1.5%

The race to the bottom for first-quarter GDP projections has a new leader: Bank of America Merrill Lynch.

With a succession of mild unemployment drops unable to ease concerns about the larger slow-growth story for the US economy, BofAML now sees the quarter’s growth prospects at just 1.5 percent.

The firm’s forecast, in a research note Monday from economist Ethan S. Harris, makes JPMorgan Chase’s [JPM 46.58 0.24 (+0.52%) ] outlook of 2.5 percent seem downright rosy and jibes with a recent warning from Capital Economics that the economy is at a crawl and unlikely to do better than 2 percent in growth.

“A lot of the recent ‘strong economy’ talk ignores the events of recent weeks. While payrolls were solid, we now expect just 1.5% Q1 GDP growth,” Harris wrote in a note to clients. “This weak patch is happening before the impact of rising energy prices is felt.”

What happened to Recovery Summer?!?!?!

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We need another stimulus like we need another Nancy Pelosi!

There is nothing worse for America than this embittered, racist cipher returning to office for four more years.

Time to step up Republicans and hammer this jackwagon president and his administration.

The Pharaoh of Lies

''There are no reports saying that my old campaign mission to bring lasting change to this nation has been accomplished. It never happened overnight as we all wanted. So let me tell you about my new campaign that's farther-reaching, more focused, and more innovative than anything we've done before.

My Chicago peeps truly live, eat and breathe this mission rebranding stuff and it's time for me to present it now. Give me four more years to put it all to work for you creating more debt, more taxes, more welfare, more regulation, more government jobs, more spending and more borrowing.

There are 44 million food-stamp recipients now, and we will work endlessly to double that by the fall of 2013. We'll do all this for you and your family's ecomonic future. And there's much more to come. Are you in? I want you to live, eat and breathe re-electing Barack Obama as president. Let's win the future together.''

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Hope and Change.... Tragic.

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