OUR GOVERNMENT IS NOW ORWELL ON STEROIDS
AUGUST 1, 2013
Yes, Virginia, two plus two can equal five. And since we’re the U.S. Government, we can tell you that two plus two equals six.”
Caution: our Governmental system is now on full retard.
Wednesday’s GDP report was a complete Orwellian farce. The annualized number for Q2 was reported to be 1.7%. Of course, lost in the shuffle was the second massive downward revision for Q1 GDP, which was revised down again from 1.8% to 1.1% What that means is that on an inflation-adjusted basis the first quarter GDP was negative - i.e. the economy is in a recession.