by James Corbett, The International Forecaster:
Economists, analysts and assorted talking heads are falling all over themselves to scry the tealeaves from the latest “important economic indicator” from the US economy: the “final” estimate of 2014 Q4 GDP.
At 2.2%, the estimate remains unchanged from its previous revision, but don’t worry; the number will almost certainly be revised again a few more times in the coming years when no one is looking, like all “final” GDP estimates are.
Given that even this grossly inaccurate and inherently faulty 2.2% figure is only half of GDP growth in Q2 and Q3, you would think it would be hard to spin this as a sign of increasing economic strength. But then, you might not be familiar with the Bloomberg boosters, who managed to come up with the laughable headline: “Here’s More Proof the U.S. Economy Is Beating the Rest of the World.” Really, Bloomberg?
Read More @ The International Forecaster
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