“Barely above stall speed”…

042613_Imus_MacedoGDP growth came in at about 2.5 percent in the first quarter, shy of the expected 3.0 percent, and well below what most credible economists see as a number necessary to promote real job growth. Oddly, consumer spending ticked up again which I believe is related to the rise in consumer debt. A lot of folks are simply “charging it” again.

Scary as that may sound, it pales in comparison to a piece of news I heard today regarding how the fed will now measure the nation’s economic size and strength. Apparently, Beyonce’s album sales, and a host of “research and development” spending will now be added to our overall economic picture to show some size, if you will. So not only do we have to swallow the “pie in the sky” wishful economics of our “Professor in Chief”, but our government is actually going to  factor in a whole bunch of phantom numbers to disguise our obvious fiscal malignancy. Great…

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