Economy Nearing Stall Speed, Media Explores Romney’s Legal Estate Planning
The economy is approaching stall speed but the media wants to focus on Romney’s estate planning (btw, Bloomberg takes Romney to task for these generation-skipping trusts and never once mentions the word “Kennedy.” The Kennedy clan are grand poobah emeriti of the generation-skipping trust gambit).
I can only express my disgust so many times — this is huge, and the media is embargoing it entirely.
U.S. economic growth is dangerously slow. I’ve frequently written about research from the Fed which finds that since 1947, when two-quarter annualized real GDP growth falls below 2%, recession follows within a year 48% of the time. And when year-over-year real GDP growth falls below 2%, recession follows within a year 70% of the time.
And it’s not just Pethokoukis’ research:
Citigroup has also taken a shot at determining the stall speed: “Specifically, when U.S. growth has cut below 1½ percent on a rolling four-quarter basis, it has tended to fall by nearly 3 percentage points over the following four quarters, and the economy has typically entered recession.
Let’s see. Economy is sputtering, the middle east is in flames – and the administration is lying about why, Obama is buying the votes of the illiterate underclass in Ohio, the largest tax increase in history is three months away, and Obama is still in this race??? America just might be lost. I see no evidence that we aren’t.