The 2009 GDP Decrease is a Horrifying 3+%
But the recent Whitehouse economic data looks rosy for Q3, at a +2.2 [albeit Q1 was decreasing at 6+%]?
The problem with massive shifts down in the GDP and minor shifts up in the GDP is perception. Assuming the massive downward shifts earlier this year were as most economists called, "inventory" burning with no new sales; then the minor "inventory" recovery doesn't mean a return to the real estate bubble and using our homes as ATMs to over-consume, as before. The American Consumer is dead and inventory blips upward are almost completely meaningless compared with the approx 70% driver of our economy unrestored, the American Consumer.
See my proof in the article in part:
"....As Kevin hall at McClatchy newspapers argues, the consumer economy is dead, all starting in September 2008 when the US government seized Fannie Mae and Freddie Mac and Lehman Brothers filed for bankruptcy.
Hall writes: "One year later, the easy-money system that financed the boom era from the 1980s until a year ago is smashed. Once-ravenous U.S. consumers are saving money and paying down debt. Banks are building reserves and hoarding cash. And governments are fashioning a new global financial order."
That means recovery will be anemic, economic growth will be around 2% and it would be five years until the economy generates enough jobs to make up for those that have been destroyed.
It will be some time before the US economy becomes competitive again...."
The rest of the URL:
This is what overpopulation in America did to us.