muses of the moment

July 11, 2013

GDP antics

Filed under: Safe banks, The Banking Crisis, The Financial Crisis — totallygroovygirlfriday @ 10:12 am

In case you missed it, the US GDP for 1st Quarter 2013 was revised down from 2.4% to 1.8%. Click here.

This is the latest antics in government stats. Revise lower 3 months later when no one is paying attention. This 1st quarter “revision” is quite a drop and falls in line with John Williams’ real stats of a slower economy and no “recovery”.

Just a reminder, the bank stress tests are based on at least a 2% GDP.

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