Friday, January 29, 2010
GDP number politically motivated?
Just a quick observation on the GDP numbers just released.The 5.7% growth rate reported sounds good,too good to be true in fact.Let's remember that the 3rd quarter rate started at 3.7%,was revised down to 2.8% and finally down to 2.2%.That's nearly a 40% drop.Where will the 4th quarter end up at?Who knows.I only know that I have strong reservations about the intentions of those responsible for these reports.Sure seems like Obama gets the inflated number out of the box to help in his push to convince Americans that his stimulus plan is working.When the numbers are revised downward later,it's with little fanfare.Right along the lines of saving or creating 2 million jobs.He can't get the unemployment number down with his misguided policies,so he just needs to fudge these numbers instead to offset it.More to come...
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