Friday, July 29, 2011

Economy growing at slowest pace since recession

These numbers are fake. Always remember: at least 40% of the GDP is government spending:

    Yahoo News -

    The economy likely grew in the first half of the year at the slowest pace since the recession ended, and the second half isn't looking much better.

    Weak consumer spending, dismal hiring and cuts in government spending likely held back growth in the April-June quarter. The government will report on second-quarter growth on Friday.

    Economists forecast the economy expanded at an annual rate of 1.7 percent, according to a FactSet survey. That follows a 1.9 percent (it's actually 1.3%) growth rate in the first three months of the year. Those are the slowest back-to-back quarters since the economy began recovering from the recession two years ago.

Read all of it.