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Tuesday, May 1, 2012

Economic Recovery is here - maybe not!

Blogman's Notes:

After months of propaganda in the mainstream media that the US Economy was in a state of recovery, reports are now leaking out that maybe it ain't so. As we have contended all along there is no Economic Recovery, neither will there be a recovery. The unprecedented magnitude of this crisis ensures that it will end only with a complete Global Economic Collapse. All the actions being taken by the 'authorities' ensure that this will indeed be the end result of that which we transpiring today in the Economic / Political realm. Until that collapse finally materializes, there will be a lot of grandstanding and a lot of  jaw-boning by politicians that we have entered a wonderful recovery. As they have been wrong all along, they will be proven wrong in the future. They know it, do you?

(Reuters) - The U.S. economy appeared to downshift as it entered the second quarter, with consumers increasing their spending only modestly last month and a gauge of business activity in the Midwest falling sharply in April. 

Consumer spending rose 0.1 percent in March from a month earlier when taking inflation into account, the Commerce Department said on Monday.
Separately, a report from the private Institute for Supply Management-Chicago showed business cooled much more than expected in the Midwest during April.
"The economy is losing a little momentum," said Gary Thayer, a macro strategist at Wells Fargo Advisors in St. Louis.
The U.S. recovery had already slowed substantially in the first quarter as businesses cut back on investment and restocked shelves at a slower pace, data on Friday showed. Gross domestic product expanded at a 2.2 percent annual rate in the first three months of the year compared to 3 percent in the fourth quarter.

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