Video here
More information on the cover up from The Market
Ticker
Oh what a tangled web we weave....
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 3.5 percent in the third quarter of 2009, (that is, from the second quarter to the third quarter), according to the "advance"
estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 0.7 percent.
Looks good, right?
Hmmmm.... or is it?
Motor vehicle output added 1.66 percentage points to the third-quarter change in real GDP after adding 0.19 percentage point to the second-quarter
change.
....
Real federal government consumption expenditures and gross investment increased 7.9 percent in the third quarter, compared with an increase of
11.4 percent in the second.
Ok, from this we can compute a few things.
3.5 - 1.66 - (7.9 * 30%) = -0.53%
Now let's adjust for inventories:
The change in real private inventories added 0.94 percentage point to the third-quarter change in real GDP after subtracting 1.42 percentage
points from the second-quarter change.
-0.53% - 0.94% = -1.47%.
Read the entire post for more information.
There is no recovery. It's a cover up.
|
