We are told today that last quarter the U.S. grew at 3.3% Not bad (if you can believe gov numbers) if we take this for truth, we can see that the stimulus package that each of us was given did have an effect. Now what? That is my question.
First, I do not believe the number 3.3 once we get the revision it should be downgraded as most often the fed numbers lag going up and going down.
Second if this is the result of the stimulus package, then it has run its course.
It is a wonder to behold the trickery to buy votes. My best guess is that we shrank by 1.2% but then if you count a deficit spending as growth then you can make the gov statistics an argument. around my house if I use credit cards, I seem to be more prosperous until i have to pay them. then I realize that I didn't really have the money in the first place and now I have to cut back to pay the cards off. Why would uncle Sam be any different. We are addicted to easy money. Giving quick fixes only delays the with drawls needed to get over our addiction.
It did make for a joyous pre holiday rally that everyone will enjoy until after the holidays.
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