There has been a lot of press coverage of the government figures showing a 3rd quarter increase in GDP. Of course most of us feel poorer. Prices keep rising faster than our paychecks. If the economy is doing so well, why dont we feel it in our daily lives? Of course we all suspect that the government is cooking the books to make the numbers appear better than they really are. But mere suspicions mean nothing if you cant point to how the books are being cooked. Well here is an analysis that points to two reasons the GDP looks better than our personal experience. One reason is that much of the increase is due to increased spending on healthcare due to the Affordable Care Act (a.k.a. Obamacare). The other reason is that much of this spending actually comes from people dipping into their savings. Read the analysis here: zerohedge/news/2014-12-23/exposing-deception-how-us-economy-grew-140-billion-q3-due-data-revisions
Posted on: Fri, 26 Dec 2014 00:48:38 +0000
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