One Comment

  1. Kimiko Andrepont
    June 26, 2011 @ 7:58 am

    While I can appreciate the points in Tsunami in Japan, I am sick and tired of hearing rubbish about the “US economic recovery”. The Federal government borrowed and spent $6.1 trillion over the past four years to obtain a cumulative $700 billion increase in the nation’s GDP. This means we’ve borrowed and spent $8.70 for every $1 of nominal “economic growth” in Gross domestic product. In constant $, Gross domestic product is flat, we’ve got no “economic growth” at all for the $6.1T. In constant US dollars, the gross domestic product in 2011 might return to the 2007 level, if the economy continues “growing” at the same pace reached in the first three months of 2011. If not, then the GDP will in reality be lower than pre-recession levels. There is no economic recovery, the numbers prove this.

    Reply

Comment using Facebook or Twitter by clicking on the icon and logging in. Or you can comment directly with your name and email.

This site uses Akismet to reduce spam. Learn how your comment data is processed.