A quick market update.
The Dollar is crashing today as our government spends itself into oblivion. GDP was down 1% despite a 13 percent increase in government spending! Green shoots? Where? This recovery is totally government dependent. This is proof that the consumer has virtually disappeared.
What would this GDP number have been without all of the government bailout/ponzi stimulus?
1Q was also revised downward to -6.4%.
The government spending in the GDP spooked the hell out of the market this morning. Gold and silver are soaring.
This is not going to end well folks. J6P is waking up!:
1 comment:
"Consumer spending, which accounts for more than two-thirds of the economy, fell at a 1.2 percent pace following a 0.6 percent increase in the prior quarter. "
This statistic gets no headlines. After chopping all days, the markets decided yet again this is a great thing.
http://www.youtube.com/watch?v=ggsXv9vPgEM
Post a Comment