We are now in the fourth year of "the stimulus" and we don't see any sign of stimulation.
We learned that the US GDP was revised "downward":
"Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.3 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the “third” estimate released by the Bureau of Economic Analysis.
In the first quarter, real GDP increased 2.0 percent.
The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 1.7 percent (see “Revisions” on page 3)"
There is more. Durable goods are down 13%.
What will it take to "wake up" those people who are still supporting Pres BO? We learned this week that Pres BO is not a serious man ("The view" vs PM of Israel) and his economic plan is not working.
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