Wow, That's Some Economy You Got There George!


Just in case there wasn't enough bad news already this should brighten up your day:

The economy grew at less than half the rate first estimated in the first quarter, the Commerce Department said today in its revision of the nation’s gross domestic product.

Before today’s numbers were released, it was clear the economy was downshifting from the rapid 5.6 percent expansion of the first quarter last year. But the new data reinforced how significant the slowdown has been.

Growth advanced just 0.6 percent, compared with an initial estimate of 1.3 percent. It was the slowest rate recorded since the fourth quarter of 2002.

Technically, based the amount of jobs necessary to be created to just keep up, which is based on more statistical legerdemain .6% is a very real recessionary number.

Have a nice day.


Sean Paul Kelley May 31, 2007 - 12:25pm
( categories: Economics )

To clarify, 'just to keep up', the CIA estimate 2007 US population growth rate to be 0.897%.

Psylo May 31, 2007 - 2:56pm

that. Certainly higher than 1.1% which if I recall correctly is the replacement rate. But I am no demographer. :-)

"There is a principle which is a bar against all information, which is proof against all argument, and which cannot fail to keep a man in everlasting ignorance. This principle is, contempt prior to examination."

Sean Paul Kelley May 31, 2007 - 3:12pm

the CIA..

Psylo May 31, 2007 - 7:16pm

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