The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.
The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter....
"The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus. --- "The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter. ..."
Surprise. Obama reelected. More taxes and high spending, with the threat of even more, doesn't work. Go Obama.
"possibly providing incentive for more Federal Reserve stimulus." Yes, if something we do doesn't work, and doesn't work, and doesn't work, surely it's because we need to do it again. The Fed and its partners in government are pathetic, too proud and blind to change the failed path, for that would be admitting failure.
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Dr. Alan Cairns | 3/9/2009
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The Fed and its partners in government are pathetic, too proud and blind to change the failed path, for that would be admitting failure.
