So it looks like we're slipping back into recession (like we were ever out). Well so much for ending QE any time soon.
It's about the big getting bigger. This market confirms that and also confirms that millions of people were working that really didn't need to be there. This is the so called New Normal. Here's to a food stamp, HUD, HEAP new normal but the question is where is that program that hands out cash so that Americans can hire immigrants to do their lawn care?
"the question is where is that program that hands out cash so that Americans can hire immigrants to do their lawn care?"
There is a program for that. It's called "Yes we Can".
Translated that means politicians hire Mexi Can to do their lawn care and Latin Ameri Can to be their prostitutes, oops, I mean house keepers.
This is a good drop in GDP because it all came out of gubbermint. Take away the deficit either by spending cuts or revenue increases and GDP goes down almost 7%. As much as it hurts that is the only solution.
Keep going down the path we've been on for the past 12+ years and the day will come when the US turns into a 3rd world Banana Republic. When it does happen it'll be an almost overnight transition.
Optimism in business community that Romney would be elected is the only reason GDP didn't tank more. No one, NO ONE will pour money into their business in a declining economy under Obama. Four more years of obamafunk.
Its clear the economy is growing. THE biggest gift for us is , the year will still will come in with about 2% growth. The housing , banking and major industries did not collapse as many thought would happen. The same yelling idiots like RICH on CNBC think they are a genius or a wizard that have all the answers. LOOK at the full car lots, home prices, business' gearing up, and warehouses restocking. People forget how bad it was.