So what drove "growth" in Q3? Nothing short of the most hollow and worst components of GDP: Government Spending, which soared to 0.67% of the annualized number, the first positive print in years, and of course, Inventories, which were responsible for 30% of the headline number.Most of us knew that Obama used government debt to win the election, oligarchs pull this crap and fake economists push the lie with happy talk during the election. Now watch us pay for that spending with a growth rate near zero.
Thursday, November 29, 2012
Fake growth for election purposes
I knew the recent growth spurge was simply government moving forward purchases for election bribes. Zero Hedge shows us the numbers.
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