With the ink barely dry on the on the Obama SOTU speech in which he praised himself for his economic recovery the GDP (gross domestic product) for the 4th quarter comes in and exposes the recovery for the fraud that it is – just like everything else about Obama.
The GDP number came in at 2.6% which is just slightly above half the third quarter GDP of 5% . For the record the 5% number was also done with mirrors but rest assured this last number of 2.6% will be revised downward very soon.
CNBC and other Obama news organs are desperately trying to cover up how bad the report is but they are forced to at least point point out the culprit. This is how CNBC describes it “U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.”
The part about “weak business spending” it’s what very troublesome because it shows that decision makers see no increased demand and therefore no need to invest in additional production capabilities or inventory.
The only “bright spot” – CNBC’s words not mine- is that the brain washed consumer continues to spend money we don’t have. In that Obama is successful.
To conclude, while the Obama recovery is complete fiction the $18+ trillion dollars with which Obama saddled us into serfdom to his bankers is, sadly, very real!