Legal Insurrection
Final revision of the first quarter GDP shows a 2.9% LOSS. Another one of these, and we have an official recession, which is defined by two quarters of negative GDP growth. We are being constantly reassured that this means nothing, but we've been constantly reassured that the economy is growing, which this shows that it is not.
The economic statistics aren't getting any better, really. The economy should be booming in this part of the "recovery", but clearly it is not. Now the Fed is starting to rein in the easy money. They'd better or we're going to have "stagflation" soon. In fact, it's already happening.
That should put Thad Cochran's victory in Mississippi into perspective a bit. Here we got the ones in power getting "re-elected" without having done anything to earn that vote of confidence.
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