THE BBC SPITS OUT THE STATE-RUN MEDIA'S SPIN IN THE HEADLINE: US economy grows faster than thought
EVERYTHING IS GETTING BETTER, RIGHT?The US economy grew at an annual pace of 3.6% in the third quarter of the year, up from an initial estimate of 2.8%, revised figures have shown.The growth rate was the fastest since the first quarter of 2012.
THEY BURY THE REAL TRUTH WAY DOWN IN THE ARTICLE:
But the upward revision was mainly driven by a big jump in businesses restocking their inventories, the Commerce Department said....The pace of growth in consumer spending - which accounts for about two-thirds of US economic activity - slowed from the previous quarter.Consumer spending grew at a revised annual pace of 1.4%, down from 1.8% in the April-to-June period and the slowest rate since late 2009.
THE GLOBAL ECONOMY IS HEADED FOR A MAJOR CORRECTION NEXT YEAR - IT'S ALL BAKED IN THE CAKE:
- ENERGY IS STILL VERY EXPENSIVE.
- THE US CONSUMER WILL HAVE EVEN LESS DISPOSABLE INCOME DUE TO OBAMACARE.
- EUROPE IS BACK IN RECESSION.
- WHEN CHRISTMAS RETAIL NUMBERS COME IN - AND IF THEY ARE AS BAD AS I THINK THEY WILL BE...
- AND WHEN INSURANCE COMPANIES ANNOUNCE NEW RATES DUE TO THE COLOSSAL OBAMACARE DISASTER....
BETTER BRACE YOURSELF NOW.
UPDATE: VIA HOT AIR:
HOT AIR: In October, the level of new claims went below the 300K barrier, at least momentarily. Today, however, it’s back up to 379,000, about where it was eight months ago:
In the week ending December 14, the advance figure for seasonally adjusted initial claims was 379,000, an increase of 10,000 from the previous week’s figure of 369,000. The 4-week moving average was 343,500, an increase of 13,250 from the previous week’s revised average of 330,250.
WE ARE HEADED FOR A RECKONING AND IT AIN'T GONNA BE PRETTY.