ECONOMY SHRINKS BY 2.9% According to official sources, ... Weather disruptions at home and weak demand abroad caused a contraction of rare severity in the U.S. economy in the first quarter, renewing doubts about the strength of the nations five-year-old recovery.... Yet, WSJ reports, One factor in the governments revision of first-quarter output was difficulty in estimating the impact of the Affordable Care Act on health-care expenditures. Actual health spending came in substantially lower than expected based on ACA enrollments and Medicaid data, declining at a 1.4% annualized pace in the period compared with an earlier estimate of a 9.1% increase. online.wsj/articles/u-s-gdp-contracted-at-2-9-pace-in-first-quarter-1403699600 +++++++++++++++++ After the wild love affair of the American People with the current Democrat administration -- Obama Corp., instead of the considering the possibility of its own dysfunctional policies regarding a whopping one-sixth of the entire economy (i.e. health care), places the blame for the economys flaccid (or should I say, wildly deflating ?) condition on the American People themselves. Similar in magnitude (next to the one of claiming to be God Himself) of the high-flying megamaniacal utterances such as Adolph Hitler blaming the outcome of the war on the German people, or of Nero accusing the Christians for the burning of Rome... *Now* --according to this Obama Corp.-- it is the carbon footprint of the People that is causing climate change (past, global warming), resulting in uncharacteristic weather patterns, that is responsible for the devastation of the economy during the first quarter of 2014 ... An explanation that is calculated to just help justify the Corporations further dampening of the economy by means of draconian level regulations being placed on the energy and power sectors, which are to be realized within the next decade or so. ( I think I recall we got a little bit of snow somewhere back in Jan...) People, this hocus pocus is just going to get worse, unless we can get connected to reality once again, leading to us getting some leaders who are likewise--or at least being able to hold their feet to the fire. (--I didnt even have to write that last part, did I ? ) MC
Posted on: Thu, 26 Jun 2014 08:55:27 +0000
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