Wednesday, July 31, 2013

Since When is 1.7% Good?

I have seen a number of positive articles about the quarterly GDP report, which said the economy grew at 1.7% in the second quarter. While that is better than the (downwardly revised) 1.1% in the first quarter, and is apparently better than what most economists expected, still I can't understand jumping for joy about what amounts to really crappy growth.

This sucks, and that needs to be said.

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