Friday, October 29, 2010
2 divided by 4 = .5. The 2% GDP figure that was served up on a platter today by the government is an ANNUALIZED rate. Put simply, on a three month, or quarterly basis, our majestic economy is growing at a rate of one half of one percent per quarter. Wowzers! I know that's a simplistic analysis, but it's a good tell on the state of what's going on and why people feel like their wading in a toilet with no tidy bowl man in sight.