Thursday, May 26, 2011

JL's Weekly - The Headline You Won't See in the MSM Is...

The Expected Jump in the Readjusted First Quarter GDP to 2.2% from 1.8% Didn't Actually Happen.

The rate stayed at 1.8% but NPR touted that we would see a jump to 2.2% in it's top stories this morning. That is until the actual report came out.

Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 1.8 percent in the first quarter of 2011, (that is, from the fourth quarter to the first quarter), according to the "second" estimate released by the Bureau
of Economic Analysis. In the fourth quarter, real GDP increased 3.1 percent.

The GDP estimates released today are based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was also 1.8 percent

We are deep into Obama's 3rd year of his presidency and the economy is stagnant. 17.3 million people are out of work yet the Main Stream Media is still trying to prop up this administration's horrible economic policies.

More great numbers you won't see.

Real imports of goods and services increased 7.5 percent, in
contrast to a decrease of 12.6 percent compared to the previous quarter.

Real federal government consumption expenditures and gross investment decreased 7.9 percent in the first quarter, compared with a decrease of 0.3 percent in the fourth.

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