U.S. Q1 2012 GDP Revised Downward
Why Read: Because real (inflation excluded) GDP growth is fundamental to the economic recovery/stability of any country, and because the U.S. is the world's largest economy - representing about 20% of estimated world GDP, in circumstances where the U.S. population represents but 5% of the world's total population.
Featured Article: A short article yesterday reports that the U.S. Government has just revised U.S. Q1 2012 GDP down to 1.9% from 2.2%. This is said to be an "Annual rate of change in the (U.S.) gross domestic product, based on quarterly figures adjusted for inflation and seasonal fluctuations".
Commentary: This revision has to be of great concern to Mr. Bernanke and his 'band of merry men and women' at the U.S. Federal Reserve. In combination with today's U.S. Jobs and Unemployment Rate announcement one can only imagine Mr. Bernanke and his crew substituting a 'single malt scotch' break for a coffee break this morning.
Without real economic growth, at some point the U.S. economic engine has to 'stop sputtering along the road, and simply stall'. Two important questions: Is more and more highly visible smoke coming out of America's exhaust pipe? - and if so: How many people are seeing it and acting on it?
Remember that often people wake up suddenly to find their world has changed abruptly in ways they didn't expect - or if they thought such change to 'be possible' didn't believe 'it could happen to them'.