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The official computations aren't out yet, but private companies suspect the worst/

"It may turn out the economy did not grow at all in the first quarter.

Trade data released Tuesday show the U.S. deficit widened more than expected to $47.1 billion in February and was a bigger drag on growth than expected. It's the latest economic metric that chiseled away at the tracking model for first quarter growth.

The median of economists who participate in the CNBC/Moody's Analytics Rapid Update is now 0.5 percent for tracking GDP growth, down from 0.9 percent last week. Their average forecast for growth is 1.1 percent.

Given the average, and substantial, revisions to government GDP data, that 0.5 percent could easily turn into a negative number, or a much higher number. That is based on a CNBC study that examined every report going back to 1990 and found an average error rate of 1.3 percentage points in either direction."

http://www.cnbc.com/2016/04/05...n-first-quarter.html

AVERAGE GDP

The real decline may be even worse.  Despite wasting $10 trillion (doubling the national debt) the administration has produced the worst recovery in over 100 years. To Obama's record must be added the birth and expansion of ISIS (al Qaeda on steroids), collapse of ME governments causing massive migration to Europe, enabling the Norks, Russians, Turks and Persians to expand their territories, and another recession, without any measurable expansion of the economy.

 

TRUTH -- THE NEW HATE SPEECH!

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direstraits posted:

Capitalism is supposed to have a certain amount of boom and bust, as part of its creative destruction -- not, flat line and bust.

We haven't seen true capitalism since the central planners set up shop in FDR's time; we borrowed the idea of Mussolini's "Third Way". The mixture of socialism/capitalism we've been exposed to for the last seven years would be more to Bernie Sanders'es liking than Reagan's, so a flat line might not be so bad in comparison to the rest of the world which is even more socialistic to Sanders liking. A flat line beats a line diving into the basement.

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