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The government revised upward its initial reading of third quarter GDP from 2 percent to 2.7 percent in a move that was widely expected by economists.
And everyone said “yawn.”
That’s because the GDP growth was more government puffery. The increase was borrowed or freshly minted money. The government merely accelerated spending, filing one hole, while digging another- deeper- hole, in Obama’s latest 60-year-same-as-cash financing offer.
At least that’s what the markets have felt apparently- reacting with shrug to another wave of “good” news coming out of the government about how great things are for the folks back...
Buffett Boosts Own Morale with Hypocrisy