Seasonally adjusted gross domestic product (GDP) results came out for first quarter of 2014: our economy shrank 1%. As we all know, the technical definition of an economy in recession is two consecutive quarters of negative growth, and I can all but guarantee you that this will not be allowed to happen by the Obama administration, no siree Bob. Not before the 2014 election in November, not a chance.
Just like they cooked the books on the unemployment figures to make sure they dipped below 8% in time for the 2012 elections (they plummeted to 7.7% just prior to Americans casting their ballots, remember those bogus numbers?), Obama will fudge the numbers to ensure that we don't get that second negative quarter in a row.
Not only will he fudge the numbers, he will make sure that the bogus numbers look so good, we will all be amazed at the turnaround in the second quarter of 2014, all the while seeing the roles of the number of Americans no longer included in the labor participation rate increase from the 91 million mark to perhaps 100 million, maybe more.
But we will be guaranteed by this administration that there will be no recession on their watch.
Take that to the bank.
International Update - *Adventures in Norkland* North Korea apparently continues the preparations for dismantling the nuclear test site at Punggye-ri. The Daily NK reported its s...
3 hours ago