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GDP Shows Surprise Drop for U.S. in Fourth Quarter
The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.
The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
Booming like the roaring twenties I see.
I expect the next two to be worse.
This ra ra the economy is great shit is getting tired.
2000 Dot.com bubble burts
2002-2006 "The greatest story never told" (because it wasn't a real economic recovery, just housing inflation asshole)
2007-2011 The Great Recession
2012-Present "Shit's not so bad, we have some imaginary GDP growth, inflation, and by 28 year old still lives at home and works part time at Friday's, but we're in a solid economic 'recover'"
Sometime in the future: mega-recession if not depression
We're watching America collapse. You will never see it as good as the 90s ever again, end of story.