Obamanomics: U.S. Economy Stalls in 1st Qtr –Image: WSJ@Twitter
(FiveThirtyEight) We already know the economy stalled out at the start of 2014, turns out, it shifted into reverse–U.S. GDP fell at an annual rate of 1% in the first three months of 2014 the Bureau of Economic Analysis reported on Thursday.
This is just the 10th time since W.W. II that GDP growth has been negative outside a recession. Three of those negative quarters immediately preceded recessions.
Flashback: Remember when Obama signed into law his ‘Economic Stimulus’ plan and claimed,“I don’t want to pretend that this marks the end of our economic problems…Today does mark the beginning of the end.”
Riiight…
Related: ‘Consumer Comfort’ Index Collapses to 6 Mo Low –Zero Hedge
Longterm Jobless Still More Than 1/3 of Unemployed –MarketWatch
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