Well, the economy appears to be in recession. In other words, we are double dipping and that is like sticking your whole face in the bowl.
The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.
The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
Now we know why the FED is pumping so hard. Still, as recessions go, this one isn’t as bad as it could be. Witness…
That’s the card the Democrats will play: It isn’t as bad as it could be. Still, even the positive numbers look pretty anemic.
However you spin it, a recession is a recession and this is Obama’s recession, isn’t it?
Rick Santelli says we are now Europe.