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Fed's Ivory Tower Just Got Smaller

man of steel Wrote: Jan 31, 2013 8:23 PM
Anyone who goes grocery shopping, eats in a restaurant, or pays a gas and electric bill knows inflation is here now. Heck, even the price of buying politicians is going up.

Today's weaker than expected GDP report shows just how out of touch most professional economists remain with respect to the fundamental weakness of the US economy. After more than four years of nearly never ending monetary stimulus and more than $5 trillion worth of new federal debt, the economy remains stuck in a serious recession.

The report shows that federal stimulus and deficit spending can't create sustainable economic growth.

Although the tepid data shocked many economists, I was not surprised. I believe zero growth is consistent with the state of the real economy. The stronger growth numbers that we...