GDP Downgraded By 33% –2013 Near Recession Economy. Media Ignores
Very quietly, the Obama administration released the seasonally adjusted GDP figures this past week, and it’s horrible news, though no surprise to those Americans still looking for work that no longer exists. The new figure for the fourth quarter is just 2.4 percent, down from an originally published 3.2 percent. OUCH.
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EVERY GDP report in the last year has later been downgraded by the administration. They put out a stronger report, the media touts it as a sign of “slow but steady” recovery, and then that same report is downgraded and the media says NOTHING.
The total GDP figure for 2013 is anabysmal 1.9 percent. That is the kind of number that a relatively insignificant economic hiccup could push the country back intothe very dark days of serious recession. There are far fewer jobs being created, than people reaching working age. That is a recipe for total workforce collapse.
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Whistler Blowers, Insiders
‘Oh, we’re just in a “soft-patch” is all’- well, that’s what those idiot-o’bozo shills at CNBC keep on saying.